Topic: Joining a Trading Competition to Flex My Skills in the Bull Market (Read 259 times)

A lot of factors that are actually needed when one decides to join a trading competition. But in general, all you have to gain are just confidence and skills. If you believe you have high potentials to turn your trades into success, with the amount of course you are comfortable to lose, then I really think this is a great idea to nurture your trading passion and skills, not to mention the exceptional amount of profits that will serve as your rewards if you win.

Trading can possibly turn you into an instant millionaire, but it can also mess up your life and ruin all your funds most particularly for beginner traders. But despite all the risks, you can only beat all of them if you are confident enough to flex your trading potentials during a trading competition.

The main opportunity in a season like this is we can earn a great profit through selling if we have been investing a long time ago. Other than that, a lot of new projects are coming out and some of them might have a good potential to succeed later or on the future.

There are also trading competitions although competitions like this can still be found even if there is no upward/bull season, but I guess they are more special during these times which is great as it allows us to earn more if we are that skilful. With that said, it may not be possible for us to participate on them if we are still a newbie and currently on our journey of learning on how to trade.

Well, it's all dependent on the knowledge and experience of a newbie and how much self-control they have got, however, you are right that a lot of newbies investors get out of control due to overexcitement and sometimes because they incur losses and want to recover them and they start making reckless decisions after that, so one needs to make sure they aren't doing any of these things if they are participating in a competition for learning and experience purposes.
A lot of people think it's very easy making trades in a bull run, I do agree to some extent with that, but I wouldn't say it's very easy because the assets can still be highly volatile at times and if you don't time your trades very well, you can always get in trouble.

Right now you can join the third season of the TradeMasters Grand Prix, which starts on March 20 on the Bybit exchange - https://www.bybit.com/en/trading-contest/game/?name=trademastersgrandprixseries1 The prize pool is 2,300,000 USDT - this should get your attention. To register for the tournament, you must have an amount in excess of $1,000 on your Bybit account.

BTC has sure risen past the $61k price it was previously and is around the ATH of about $71k with the potential of rising further before the halving.
I do hope am not to create a FOMO by saying that the fate of other crypto currencies and altcoins might be very rested in the success of BTC and not its failure, because many investors would pull out of the cryptocurrency market entirely should the number one crypto currency which is the leader on the board fail. what's to say other won't others follow suit shortly afterwards?


By promotional contest, do you mean you would get to enter the competition with your funds? Why am asking is that trading must require one to have a reasonable amount to put at risk and I can assume you are in it for the fun part because I doubt you are scared of losing your funds.
Surely your skills will definitely get sharpener and you would even start trading on your own because you have ridden off the fear that resides in risk taking for profits at the initial start of a trading career.

There’s a lot of trading competition in our local community, and you can participate even without paying any fee. The reward is not that high though but if your purpose is to improve your trading skills and broaden your trading knowledge, this can be a good training ground. If you can find in your local community much better so you can understand it easily and also have a collaboration of ideas from a different traders in your local.

Competition are indeed a good way to broaden and sharpen one knowledge on what they are competing on, and a trading competition is definitely one way some users will get to put their trading skills to the full test, it's like putting an engine to a full test by placing it under an intense and very high load or pressure, to ascertain or be sure of the how it can take under really heavy usage.

Joining a trading competition is one way to train oneself, increase risk intake level since joining such a competition also means you have to have balls to be able to take losses and move on immediately to the next plan like nothing happened.

But then, one must be ready for whatever outcome before engaging in a trade competition, trading itself is very risky, it's not something newbies should engage themselves in, most especially with large amount of money, except it's an amount they are willing and comfortable to lose, and also understand that in trading competition, there is no guarantee of winning a dime, as there is the possibility that there are other high professionals traders with lots of money that will steal the top spots due to how large their bag is, this is one of the reasons why I myself don't bother myself with such things as participating in trading competitions.

Yeah it's the correct time to get the stuff that you learn to show what it is capable of but these conditions are also very devastating to some traders especially the new ones. Just take care of the fact that in excitement don't over invest into the market cap just try to be more precise and focused while investing your assets.

These days the coins are very volatile some of the bigger projects have reached their top peak and are very unpredictable nowadays. Altcoins also are being greatly impacted by the bull run of Bitcoin so conditions are good to some extent but there shouldn be a layer of safety added to the investments.

Honestly competing sounds like an awful idea. Especially if you are new to trading!!!!

Trading is all about risk management. As a trader you're always going to miss out on a lot of the market upswings, so you don't want to try to make as much money as possible, because there's always going to be more opportunities in a bull market. What you want to do is manage your risk so you don't get into bad trades too often. If you are trying to make as much as possible, which you will certainly be doing if you are competing, you're going to get into more bad trades in search of constantly making profit.

This is advice coming from many years of trading crypto.

Anytime I start focusing less on managing risk and more on just making as much as I can, I end up losing money because eventually I pick some bad trades and I either have to take losses that wipe out all my gains or I have to wait sometimes weeks or months to get my trades out in profit. So it sounds odd, but trying to make as much as possible will hurt how much you make. Managing your risk and focusing on losing money as little as possible (while still actually trading enough to make money) is how you increase how much you make.

Also a way to decrease risk is to only trade Bitcoin or Bitcoin and Ethereum. Altcoins are wayyyy riskier. Sometimes Bitcoin can go up a bunch while an altcoin you are trading might sink 30%. But altcoins are going to make you a lot more than Bitcoin when altcoins are doing well. They are a lot more volatile and therefore you can make more from trading them. For trading I'd recommend having a certain amount you only trade Bitcoin (and Ethereum), and the rest you can do more risky altcoin trades. And of course the more you do altcoin trading, the more you need to manage your risk so you don't end up losing money.

I feel like these type of things actually do matter and kudos for having this courage. A lot of people do not really approach these situations that well, and it ends up being a little bit more trouble. I get that it feels like it is a big deal at certain times, but it does look like it is going to be a major deal if you are not careful.

I personally believe that the best thing to do in this case would be making sure that it goes well, if it goes well at least there is a proof. I have seen a million people on this forum who say "gimme your money and I will make you rich trading, just trust me" and as we all know nearly nobody falls for that, but when you actually provide proof that you are good, copy trading is a real thing.

Yes, trading competition might be a perfect outlet to showcase your trading skills and to learn as well from your opponents skills and strategies. But always stay trading on the amount you are comfortable of losing. Regardless if it’s a win or lose, it would not matter that big since the experience alone can certainly change and improve your trading skills and strategies. So don’t miss this opportunity if you think you have that exceptional trading skills. Learn not to be fearful, but to be greedy and confident as well.

Some of this events are set up by the exchange it self or probably someone who is like an ambassador to the exchange can set the competition up. Also I think just anybody can pay for the competition. Last time I witness this competition the profits was gotten base on the total volume each trader was able to trade on for that particular period of the competition. This one is not all about your winning rate but how much volume you traded. Some competition can switch their own win to most win and this is sorted by the total PnL from the all trades and the highest PnL

I also do not agree with trading competition except with friends and it’s not something you are bent on winning it. But a random competition will make you stake more amd pos

Halving comes in just around 30 days or more this pump is just a mini pump before the market reaches again with another all-time high again, it's not too late to make an entry or position as you said try to analyze the market movement based on your experience you can ride with the market before skyrocketing every pump there's a price correction and it's a good chance to get a good position.
I didnt see any event related to a trader events competition, could test your skills probably but whats the goal of the competition the number amount of profit? seems not reasonable for me instead why not make your own trade and enjoy those trades, instead ideally trader event with sharing knowledge is ideal than having a competition. 

Trading competition nowadays is more on trading volume count not by the win rate. So your skills will not gonna matter if you don’t have enough funds to compete with whales that dominates the trading.

Why do you need someone to spar on trading while trading itself is already a competition against other traders that making a position against yours. That’s why there’s a lot of users being liquidated both shorts and longs because all traders is just competing to each other in reality while the exchange just get free from your trade. Just trade on exchange normally.

Kucoin has this VS feature but I’m not sure if this is still available.

Yes, we are now in an upward season and there will certainly be many opportunities. Look in this thread, perhaps you will find some competitions or bets that can benefit you.

https://bitcointalk.org/index.php?topic=5448924.160

Yes, competitions are a good way to get some money as a small capital to start trading. If you are lucky, you will get a small capital with which you can begin your journey in learning to trade. Who knows, maybe you will get lucky and make some good profits.

We're in the early stage of the bull season and it's living up to it's expectations, now Bitcoin price is currently above $70k, so it's the best and safest way to increase your earnings in the crypto space, alternatively you can buy top altcoins too, no need to look for any other means to increase your money. I think entering a crypto trade competition for financial gains is not necessary, because you can invest that capital in profitable cryptos as earlier mentioned, except you want to join simply to increase your trading confidence. If the OP must join in the competition, then let him trade with the amount that he can afford to loose, because of his in experience.

Actually, to me I really don't think that's a good idea, you are just a newbie, you are not even sure of your right or left when it comes to trading, and you are here talking going out for a competition.

I am not that surprised seeing this from a newbie, social media influencer have fed them with a lot of crap, so they mostly sees trading as an easy thing till when they have gotten some back to back losses, that's when they will understand that it's not as easy as it seems, which will definitely make some quit or for some, they will just take a break from it.

so if you are going to take my advice, I would suggest you cancel any competition in your schedule, because you don't even know the craft, and you don't even know how to identify the least support and resistance, so before even venturing into trading, I suggest you go for knowledge first, because that's what going to help you in navigating through the market successfully.

Only professional traders should go into trading competitions, because if a newbie like you with no trading experience goes into such trading competition will lose, because you don't understand what the market is like. We are already in the bull run, and this is not the best time to trade, since bitcoin price is increasing significantly, you should think of investing into bitcoin, and hodli rather than chasing shadows and gambling around with the little funds that you should use to invest in bitcoin. Trading is not as easy as you think, because it is very complex and cannot be learnt in a short period of time.

They're actually good to test your trading skills. I don't join any as I can say that I am not a good trader but if you think that you are then it's a way to prove yourself and showcase your trading skills.

IMHO, it's not about the prize or whatnot there. But it's about on how you'd be able to defeat the other traders and see who's the best and as well as the experience that you'll get from there.

Another thing is you enjoy the competition, win or lose.

Do you think betting will allow you to get this capital you are looking for easily to go into trading, why can't you look for a reasonable job that will be giving you weekly or monthly payment so that you can start saving some money in a potential altcoins that will create opportunity for you to make cool money from your trading.    

BTC price has hit $69k to make investors to experience profits from their hodling again and, majority of hodlers got it right in this new bull run and it has opened many newbies eyes to be patience in their hodling so that they will not miss it at the end