Is Trading competition good way to earn money? - page 2.

Aying

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Quote from: Asmonist on November 19, 2019, 09:03:55 AM

I think its best to do trading competition for big time traders. Those with large funds. Trading competition for me is for experienced traders only. I think this is so hard and traders involved in that are on its highest level of knowledge. Well, experience is a constant practice. So might as well make your chances and see the result. We can always learn from it but always play within your fund limits.

True, if you are ready to be part of a trading competition and ready to lost how many funds then this is for you even you are an experience or newbie. a lot of gimmick is happening in many exchanges and if you are ignorant in this kind of their method and does not accumulate more info maybe its not for you. but experience is a best way to gather knowledge but we have our own limitations like our funds and time so risk it at limited only, don't hyp all in.

whyrqa

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Quote from: 2double0 on November 21, 2019, 07:08:47 AM

TBH even if the main agenda is not about the exchanges, I would say that exchanges do it specifically to increase the volume as well as gain a lot of fees from those trades because many noobs perform wash trades (scalping type trades) and believe they have arranged the volume needed to win some part.

Groupify it
I think you need to get a group of trustworthy people interested in doing group of trading all through one account, thus giving you higher chances of winning the competition.

Never do wash trades
Urgent trades will just not get you anywhere but make you lose a lot in fees and such trades are considered invalid, so doing them will not bring in win.

Spot better entry/exit points
These competitions give a boost to some unknown, yet reputed alts which get a chance to be on top all the time while being traded on the exchange most of the time. If you can spot better entry and exit points by switching to 30 mins and higher time-frames, you can be rest assured that even if you don't win something in the competition, you are still a winner in terms of making good profits because these coins always get volume needed to pump that coin higher and even if you get 10-20% from these coins, then it's free money for you on your investment.

Of course, following the good advice of professionals, adhering to certain rules and having good knowledge of trading, you can get not a bad income from cryptocurrency trading, without any problems replacing any work, including physical labor. But you need to consider some facts that affect the results of the trader. This is primarily experience and professionalism, as well as the current situation on the cryptocurrency market. As an example, we can take what is happening on the market today, November 21. Many beginners with big eyes look at the reviews of many traders about the results of their activities and such incomes drive people crazy who think that trading and getting good results is very easy.

DeathProxy

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Personally i don't see any profit generating capabilities from crypto trading competition. Trading competition is just a means for team and big investors holding a large chunk of the token to dump without being noticed. That is why at the end of every trading competion the price of the token dumps and the volume increase. To Maximize profit from trading competion you need to be a big bag holder of that said token. Experinced and knowledgeable traders will also benefit from trading competion

CarnagexD

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Quote from: stomachgrowls on November 19, 2019, 03:57:32 PM

Quote from: Lanatsa on November 19, 2019, 02:26:56 PM

Quote from: AirdropNotifyer on November 17, 2019, 11:33:46 PM

The agenda is how it's possible to earn some money through trading competitions and what are risks?

Yes it is but all would depend on how you do trade on where profitability will vary out on your performance and if you do suck on trading then
you would surely lost up your capital without even reaching some significant volume you are trying to reach out.If a certain exchange do offer something
which is free like an exchange fund for you to make use on that trading competition then its also a worthy shot to try on yet you wont lose nothing
in terms of money but somehow you would waste up your time and effort if ever they wont give out the prize.

Its rare to see for an exchange to give out free money for you to trade into their platform and usually they would lock out those funds and for you to pull out those funds you would need to comply KYC verification.

Or probably there are none? I never thought of a business that gives you money just to buy at them. What I know is a bonus system on an exchange and different platform, after depositing a specific amount of money or regularly trading on their exchange. But yes, KYC verification is a must. They must assured that you don't have any derogatory record and is safe under their premises.

Quote from: stomachgrowls on November 19, 2019, 03:57:32 PM

Earning with trading competition is really plausible but same as others said this wont be an easy one yet whales would be your primary enemy on here since we do talk about volume/liquidity stats on here.

Trading is fun until it gets harder when there are whales playing around, sometimes they are harsh on the market, sometimes they are very showy. Indeed they are the one having great impact on the market, and we are just a tiny fraction running around the graphs. Am I alone believing that every exchange has a group of whales? And they are not close to each other? and they just know who are their competitors?

2double0

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TBH even if the main agenda is not about the exchanges, I would say that exchanges do it specifically to increase the volume as well as gain a lot of fees from those trades because many noobs perform wash trades (scalping type trades) and believe they have arranged the volume needed to win some part.

Groupify it
I think you need to get a group of trustworthy people interested in doing group of trading all through one account, thus giving you higher chances of winning the competition.

Never do wash trades
Urgent trades will just not get you anywhere but make you lose a lot in fees and such trades are considered invalid, so doing them will not bring in win.

Spot better entry/exit points
These competitions give a boost to some unknown, yet reputed alts which get a chance to be on top all the time while being traded on the exchange most of the time. If you can spot better entry and exit points by switching to 30 mins and higher time-frames, you can be rest assured that even if you don't win something in the competition, you are still a winner in terms of making good profits because these coins always get volume needed to pump that coin higher and even if you get 10-20% from these coins, then it's free money for you on your investment.

supercanada1

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Quote from: Kambal2000 on November 20, 2019, 10:21:26 AM

Quote from: Murat on November 20, 2019, 02:11:32 AM

First of all, You have to understand that the market is in full of competition, so as a small trader you don't have a chance to make money from your small amount because you have to pay fee whatever your amount it is, So the low volume is not suitable to the trading purpose, you need to focus another thing that the market is controlled by the big holders so staying strong in trading purpose is not an easy task for you, so trading competition is not a good way to make money for me, I usually not go this system, I think Holding and Investment is the coolest way to earn money from this platform.

Since I am not that an expert in trading too, so I stay away from trading competition as I know that there were lots of trading expert our there, instead I just focused on what I can do at the moment and maximizing it, maybe if I will be that expert then I will join trading competition, and it will take few more years before I become expert as I am not that full time in trading.

Every master was a beginner. If you are not too good or don't consider your skills sufficient enough to be part of competitions, then you must give yourself a try and discover the truth practically. To achieve big, you need to think big first. You can try demo accounts for improving your trading skills. Those really lend a hand in progressing. No risks are involved at all but a considerable learning is.

Kambal2000

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Quote from: Murat on November 20, 2019, 02:11:32 AM

First of all, You have to understand that the market is in full of competition, so as a small trader you don't have a chance to make money from your small amount because you have to pay fee whatever your amount it is, So the low volume is not suitable to the trading purpose, you need to focus another thing that the market is controlled by the big holders so staying strong in trading purpose is not an easy task for you, so trading competition is not a good way to make money for me, I usually not go this system, I think Holding and Investment is the coolest way to earn money from this platform.

Since I am not that an expert in trading too, so I stay away from trading competition as I know that there were lots of trading expert our there, instead I just focused on what I can do at the moment and maximizing it, maybe if I will be that expert then I will join trading competition, and it will take few more years before I become expert as I am not that full time in trading.

Murat

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First of all, You have to understand that the market is in full of competition, so as a small trader you don't have a chance to make money from your small amount because you have to pay fee whatever your amount it is, So the low volume is not suitable to the trading purpose, you need to focus another thing that the market is controlled by the big holders so staying strong in trading purpose is not an easy task for you, so trading competition is not a good way to make money for me, I usually not go this system, I think Holding and Investment is the coolest way to earn money from this platform.

stomachgrowls

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Quote from: Lanatsa on November 19, 2019, 02:26:56 PM

Quote from: AirdropNotifyer on November 17, 2019, 11:33:46 PM

The agenda is how it's possible to earn some money through trading competitions and what are risks?

Yes it is but all would depend on how you do trade on where profitability will vary out on your performance and if you do suck on trading then
you would surely lost up your capital without even reaching some significant volume you are trying to reach out.If a certain exchange do offer something
which is free like an exchange fund for you to make use on that trading competition then its also a worthy shot to try on yet you wont lose nothing
in terms of money but somehow you would waste up your time and effort if ever they wont give out the prize.

Its rare to see for an exchange to give out free money for you to trade into their platform and usually they would lock out those funds and for you to pull out those funds you would need to comply KYC verification.

Also if this is the kind of set-up your are into you should always ask for the funds to be escrowed so that everything would be smooth.

Earning with trading competition is really plausible but same as others said this wont be an easy one yet whales would be your primary enemy on here since we do talk about volume/liquidity stats on here.

Lanatsa

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Quote from: AirdropNotifyer on November 17, 2019, 11:33:46 PM

The agenda is how it's possible to earn some money through trading competitions and what are risks?

Yes it is but all would depend on how you do trade on where profitability will vary out on your performance and if you do suck on trading then
you would surely lost up your capital without even reaching some significant volume you are trying to reach out.If a certain exchange do offer something
which is free like an exchange fund for you to make use on that trading competition then its also a worthy shot to try on yet you wont lose nothing
in terms of money but somehow you would waste up your time and effort if ever they wont give out the prize.

uray

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Quote from: AirdropNotifyer on November 17, 2019, 11:33:46 PM

As we all know now these days so many trading competitions arranged by exchanges,
i just wondering is this a way of earning?
i personally think that this technique is used by exchanges to make volume of particular coin or token, I'm not sure if there are other purposes for arrangement trading competitions.

These are all marketing techniques used by exchanges as the earnings they get is through trading fees and if there is a competition they think that they will have more users trading to win the competition and thereby they will be having the profit and so is the case with gambling sites who has wagging competitions and it is so successful that there are many users participating in those and it is a win situation for them.

Krislaw

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For you to be able to participate in trading competition, need a lot of funds and there is high there because sometimes, the team just needs volume for their coin/token and then decides to dump during the process making the reward worthless.

enhu

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Quote from: Asmonist on November 19, 2019, 09:03:55 AM

I think its best to do trading competition for big time traders. Those with large funds. Trading competition for me is for experienced traders only. I think this is so hard and traders involved in that are on its highest level of knowledge. Well, experience is a constant practice. So might as well make your chances and see the result. We can always learn from it but always play within your fund limits.

Its a good training for the newbies also. I think its best if the exchanges focus more on single token they are releasing like for instance if the exchange are releasing native tokens for example BNB/BUSD is the only pair they have to trade so that its easy to see how much volume can the native tokens be.

Its good for new exchange wanting to be listed on coinmarketcap also. That is ifthey wanted to impress people about the volume while it got listed on coinmarketcap.

Asmonist

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I think its best to do trading competition for big time traders. Those with large funds. Trading competition for me is for experienced traders only. I think this is so hard and traders involved in that are on its highest level of knowledge. Well, experience is a constant practice. So might as well make your chances and see the result. We can always learn from it but always play within your fund limits.

pamsugas

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trading Competition is not the best way to get money in crypto. the best way to get money is to follow the bounty and airdrop. follow the airdrop and the bounty does not use money it's just that we work work to follow the rules given BM or airdrop developers.

oktana

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I see this competition appearing to arouse the mood of traders from traded coins. This step will clearly be a trigger for prices and will certainly also have a profit effect from regular traders who are not involved. it usually happens to coins that have a break from the next big plan so they fill alternative plans and encourage them in this form. not too bad to measure the ability of me and traders who have an interest in competition.

rijaljun

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Quote from: Aikidoka on November 18, 2019, 01:05:17 PM

Exactly, people should be careful while they joined such a competitions because they can easily lose their capital if they're not gonna be careful, sometimes this kinda of competition turn out to be a scam. I just recommend people to search alot about this competition and reading people feedbacks about that before joining.

No, I didn't mean to say people's gonna lose their capital but there are various models of trading competition and sometimes losing capital could be a strategy to win the prize.

And right, trading competition on little exchange is much more risky than on a big exchange so make sure to think other aspects than just the rewards.

Cherylstar86

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Quote from: matchi2011 on November 18, 2019, 11:46:43 PM

Quote from: Dart18 on November 18, 2019, 09:57:19 PM

I hope it is that easy.
It is almost the same with gambling competition.
The difference though is that it is being earned by those who gamble.
A percentage of it is going to the pot until a certain time where it will be divided to the largest staking gambler.

Almost the same but the difference is trading is a difficult thing to make profit.
It takes some time if it is an altcoin. You will have to risk too much.

Trading is not that easy but for those who have good knowledge and understanding, this kind of competitions will be an additional bonus
while they are doing their business. you are correct with the concept same with gambling competitions as everything is about winning and
trying your best to achieve your goals. Having a correct view will keep you positive to aim winning the rewards.

In trading process, I agree that it looks like in competition in which you need to be attentive by those price you want to buy or sell. Each of us want to win or by having a lot of profits in the end as you want to trade it again, roll your profit and aiming to increase it all over. Despite of this situation it takes very much more time unless you always win it, but in the worst case it may end up by huge losses, hopefully user must aware and learn to be contented even it's not huge amount of profit.

matchi2011

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Quote from: Dart18 on November 18, 2019, 09:57:19 PM

I hope it is that easy.
It is almost the same with gambling competition.
The difference though is that it is being earned by those who gamble.
A percentage of it is going to the pot until a certain time where it will be divided to the largest staking gambler.

Almost the same but the difference is trading is a difficult thing to make profit.
It takes some time if it is an altcoin. You will have to risk too much.

Trading is not that easy but for those who have good knowledge and understanding, this kind of competitions will be an additional bonus
while they are doing their business. you are correct with the concept same with gambling competitions as everything is about winning and
trying your best to achieve your goals. Having a correct view will keep you positive to aim winning the rewards.

wajik-tempe

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Quote from: AirdropNotifyer on November 17, 2019, 11:33:46 PM

hello crypto heroes.

As we all know now these days so many trading competitions arranged by exchanges,
i just wondering is this a way of earning?

i personally think that this technique is used by exchanges to make volume of particular coin or token, I'm not sure if there are other purposes for arrangement trading competitions.

Please Note: it's not our agenda what is purpose for these trading competitions.

The agenda is how it's possible to earn some money through trading competitions and what are risks?

Please share your thoughts and Your experience below,

i believe it will be very helpful for newbies, and also for those are not familiar with.

Why I'm asking here?
The Reason is: BTT is world's biggest Crypto Related Form so why not to discuss every single thing about crypto,

I will be very thankful to all of you guys if you also share your tips and tricks. Grin

I think if it's made by the exchange itself it will be easily manipulated by the exchanges or a group of people who can "play" with the exchanges.
I think it's only worth if the trading compitition is held by external source from the exchange and held the competition volume exchange like binance so they can't pump and dump a coin to win the competition

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