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Topic: How to approach a trading competition?? - page 5. (Read 856 times)

hero member
Activity: 1428
Merit: 592
September 16, 2024, 11:06:01 PM
#3
Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

In trading you must have a strategy and experience will teach you how one should trade properly.
In trading you are not competing with anyone but trying to see the potential of the strategy in the trade you make so that the trade will have a positive effect to run.
If you want to succeed in trading then what must be done is knowing how and not being greedy to make a lot of profit. Trading does not guarantee consistent profits because there are times when you will also face losses even though the strategy is correct.

Improve your trading skills and practice by using small capital first and when your trading experience becomes better then trade with a slightly larger amount.
Knowledge and experience are important in trading because we will have an idea when we are involved in it with any conditions.
sr. member
Activity: 504
Merit: 279
September 16, 2024, 05:00:33 PM
#2
I’d love to hear about your experiences participating in trading competitions and get some tips.

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

I don’t think there’s basically anything you need to add if at all your good in taking your own trades, first thing I will advice you is to check the criteria or basis in which the competition will use to determine the results, some of the competitions I have witnessed mostly use the trading volume while other use the number or winning trades, the former is mostly the common although i don’t fancy those ones because mostly they are mostly won by those who have high capital. Volume to me is never a good way to rate a good trader.

As for technique I will say you should stick your trading plan and technical skills, the only problem might be you need to trade more for that period, so if you’re maybe a swing trader then it is another task to switch to a daily trading
jr. member
Activity: 476
Merit: 7
Navigating the Crypto world & Holding BGB Along..
September 16, 2024, 04:32:34 PM
#1
Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!
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