Trading campaigns helps level up trading for traders

Lanatsa

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Quote from: Yamifoud on May 06, 2024, 05:24:48 PM

Quote from: kentrolla on May 05, 2024, 04:15:15 AM

These sort of campaigns only creates more greed in the mind of trading and they end up making wrong trading calls just to meet the volume target. This seems like encouraging the trading but infact it's just a technique to pool in more funds from the investors to increase the trading volume in the platform. Ths doesn't bring best out of the traders rather brings in more funds for platform.

It can't be denied that the platform earns more benefits from this campaign. However, this will also encourage traders to be more knowledgeable in order to win the competition. I don't think this will end up making wrong calls if they were able to act carefully, and the aim of winning. Otherwise, it makes no sense to join the competition. What I see with this is that it brings out the best possible strategy that a trader can do.

Importantly, we know and are aware of how the competition rolled out.

It does have its cons and do have its own benefits on which its true that on the time that they would really be joining up a competition then they would really be doing their very best on going to the top on which it would be a common approach that they should done well in regarding about into their trading activity and should be making out adjustments on whatever condition that you would really be able to encounter. It is really just that normal that you would really be gotten serious on the time that you would really be on such condition on which it would be a normal approach and reaction to have.
Just like on whats been mentioned above that exchangers or platforms such as these are indeed business so to make things a bit more interesting and would be making themselves creating some noise about their existence then they would really be making out these kind of interesting and generous competition and its prizes so that it would lure down traders to make use of their site and since we do know that they are making money with those fees then this is everything about business on which its normal..

Yamifoud

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Quote from: kentrolla on May 05, 2024, 04:15:15 AM

These sort of campaigns only creates more greed in the mind of trading and they end up making wrong trading calls just to meet the volume target. This seems like encouraging the trading but infact it's just a technique to pool in more funds from the investors to increase the trading volume in the platform. Ths doesn't bring best out of the traders rather brings in more funds for platform.

It can't be denied that the platform earns more benefits from this campaign. However, this will also encourage traders to be more knowledgeable in order to win the competition. I don't think this will end up making wrong calls if they were able to act carefully, and the aim of winning. Otherwise, it makes no sense to join the competition. What I see with this is that it brings out the best possible strategy that a trader can do.

Importantly, we know and are aware of how the competition rolled out.

kentrolla

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These sort of campaigns only creates more greed in the mind of trading and they end up making wrong trading calls just to meet the volume target. This seems like encouraging the trading but infact it's just a technique to pool in more funds from the investors to increase the trading volume in the platform. Ths doesn't bring best out of the traders rather brings in more funds for platform.

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Quote from: wxa7115 on May 02, 2024, 01:57:06 AM

Quote from: Cryptoababe on April 22, 2024, 04:46:01 PM

Traders mostly enter the markets to make profits or accept losses. But these days, trading platforms incentivize traders with attractive rewards and events.
An example is this event which offers lucrative prizes like Louis Vuitton bags, Rolex watches, and even a Tesla car for achieving higher trading volumes.

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

Do not fall for this, if you are a good trader and you have a capital that is high enough, you will be able to afford those luxuries on your own without depending on those incentives.

The only ones that could possibly be attracted by this are those that know they are not good enough to beat the markets, but still want to get something out of their efforts, but they are just deceiving themselves, as in order to qualify for those rewards, they will have to lose way more money than what it could have cost them to buy those items with cash.

True, you should be having this kind of realization but somehow its not really that bad to make these things to be your inspiration or something that would be pushing you. Its not bad on having an aim specially if the said prizes or reward is something interesting. The only thing that you should really be needing in mind is that you shouldnt really be finding yourself that lose your composure and patience on which we know that once that
desperation would really be kicking in then it would really be that so damn hard for you to control it out once you do have that lacking of self awareness on how reality works.

Doesnt matter if there would really be those promotions as long you are really that doing well with your trading then this what matter the most.Its not bad on having that kind of aim or target
as long it doesnt really disrupt your concentration when it comes to your trading analysis then i dont really see any issues with this. You can really be able to proceed out without
having any intervention with those things on which it would really be just that a normal approach to have.

Suman1

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True, various kinds of listing events and trading campaigns indeed encourage users to trade in a marketplace that's why traders need to find such platforms that are regularly offering activities with their new listings. TBH trading competition is now considered a traditional event so not only Trading competition but also to organise other relevant activities that can boost user's confidence and level up his experience. I can name a few exchanges that are following particularly because of their exciting events aside from trading competition are Bitget, Gate, Kucoin, Mexc etc. Also, most of the events, if being organised by any exchange are from Bitget, from my recent observation they're likely to offer 2-3 activities like CandyBomb, Deposit Rebate, and Giveaways with each new listing project.

wxa7115

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Quote from: Cryptoababe on April 22, 2024, 04:46:01 PM

Traders mostly enter the markets to make profits or accept losses. But these days, trading platforms incentivize traders with attractive rewards and events.
An example is this event which offers lucrative prizes like Louis Vuitton bags, Rolex watches, and even a Tesla car for achieving higher trading volumes.

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

Do not fall for this, if you are a good trader and you have a capital that is high enough, you will be able to afford those luxuries on your own without depending on those incentives.

The only ones that could possibly be attracted by this are those that know they are not good enough to beat the markets, but still want to get something out of their efforts, but they are just deceiving themselves, as in order to qualify for those rewards, they will have to lose way more money than what it could have cost them to buy those items with cash.

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These could "help" for some people, but it is not really a must, and there are a lot of people who are so big and better than most people will not get anything out of it as well. I personally try to trade for myself and only for myself, nothing else matters to me and I rarely ever make money during this period obviously, so I do not care about the other campaign stuff or competitions or anything else for that matter. I get that it may feel like it is going to get a lot worse, but we should probably just be happy with what we have.

I believe that we are going to have something troublesome eventually, that has to be the most important part. I am aware that we are going to face some troubles with time, we just need to be patient about it and grind through all of that.

milewilda

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Quote from: Cryptoababe on April 22, 2024, 04:46:01 PM

Traders mostly enter the markets to make profits or accept losses. But these days, trading platforms incentivize traders with attractive rewards and events.
An example is this event which offers lucrative prizes like Louis Vuitton bags, Rolex watches, and even a Tesla car for achieving higher trading volumes.

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

When running up a business like being an exchange owner or broker or whatsover then it would really be just that normal that you would really be giving out those kind of perks or some sort of promotiosn and those kind of competitions on which winning up a particular prize. This would really be that spark up someones interest and would really be that dedicative on trading up more which means that the more volume that a trader would really be creating then this do talks about having more bigger revenue when it comes to trading or makers fee on which its not really that shocking that they would really be aiming for more because that brings up more money.
Those prizes has been set will really be that might be looking that generous but actually this would really be that acting to make things even more interesting but in behind then its really just that a lure up
for people to trade even further or more on which its nto really that something new when it comes to business mindset and its really just that a normal approach on having this one.

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Quote from: Questat on May 01, 2024, 07:01:12 AM

Quote from: jrrsparkles on May 01, 2024, 12:42:04 AM

Quote from: Cryptoababe on April 22, 2024, 04:46:01 PM

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading.

The only intention of such a campaign is to make everyone to trade more which is obviously going to bring more profits to the platform cause more fee/more commissions and more fee in withdrawals. Don't you eve think that you should trade more to get the prize because it obviously going to be end up in the hands of a big trader/whale who can create a volume in millions with just one trade.

It was not a problem as long as they were following the rules and in good intentions. Of course, the site will get more benefits from doing but of course, the winning trader would also take their prize while those who are not will also gain experience and additional learning. It is up to the trader if they will join, in fact, this is not a urging situation but just an opportunity. Those traders who find it beneficial will fairly make their choice to join but doubtful traders will not.
In the end, it is a sort of hyping of their trading platform and encourages traders to learn more.

Trading with $1000 is completely different from trading with capital of $100K that's why I said focusing on getting the rewards of trading competition which is solely based on the trading volume. It is just a win for the platform not for us, we just have to stick to our plan even if we are making progress gradually which is lot better instead of going hard and losing big.

Questat

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Quote from: jrrsparkles on May 01, 2024, 12:42:04 AM

Quote from: Cryptoababe on April 22, 2024, 04:46:01 PM

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading.

The only intention of such a campaign is to make everyone to trade more which is obviously going to bring more profits to the platform cause more fee/more commissions and more fee in withdrawals. Don't you eve think that you should trade more to get the prize because it obviously going to be end up in the hands of a big trader/whale who can create a volume in millions with just one trade.

It was not a problem as long as they were following the rules and in good intentions. Of course, the site will get more benefits from doing but of course, the winning trader would also take their prize while those who are not will also gain experience and additional learning. It is up to the trader if they will join, in fact, this is not a urging situation but just an opportunity. Those traders who find it beneficial will fairly make their choice to join but doubtful traders will not.
In the end, it is a sort of hyping of their trading platform and encourages traders to learn more.

jrrsparkles

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Quote from: Cryptoababe on April 22, 2024, 04:46:01 PM

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading.

The only intention of such a campaign is to make everyone to trade more which is obviously going to bring more profits to the platform cause more fee/more commissions and more fee in withdrawals. Don't you eve think that you should trade more to get the prize because it obviously going to be end up in the hands of a big trader/whale who can create a volume in millions with just one trade.

justdimin

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Quote from: poodle63 on April 23, 2024, 06:54:08 AM

well to be honest trader will still try to see whether the benefit outweight the loss they might have when trading for event like these fairly speaking exchange like bybit and so on always incentivizes trades on certain coin just for the sake of pumping its volume and will give rewards the token itself for free for whoever traded with the pair that is being sponsored, I think that also the reason why many exchange when having new listing always have the trading volume shoot up high reaching billions since the system of the rewards itself is first come first serve.
so its definitely not a new thing, but i personally always find events that requires trader to make as much trading volume as they can always problematic, there are so many money that gonna be risked just to reach certain degree of trading volume where the loss may outweight the rewards, if its an event where there's just this one mandatory trading where value is equal to $100 or more its gonna be completely fine and yes it does motivate trader to certain degree.

I do agree that when you are trying to do your best, a trader will see the problems before they see the benefits of it. Well, simply because seeing what could benefit and profit them is easy, you could go find some terrible token, and say "if this goes 100x then I am rich" and then you could invest, that is not the point, everyone can do that. They end up looking into what could go wrong, that is a lot better because it would mean that you will see all the things that could go wrong.

This means that you get to eliminate all the bad possibilities, and find only the good trades that could do well. This allows people to make much better judgement and allows them to do greater on the long run as well, benefiting them a lot.

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Quote from: OrangeII on April 26, 2024, 01:56:21 AM

Well, trading campaigns do have many advantages. Apart from being profitable for the exchange itself, this also encourages traders to be more active in trading. This not only helps improve traders' skills, but also adds experience to traders in competing in trading. Apart from that, this also makes traders more prepared to accept the risks of trading for a certain period of time.

I also think campaign would also benefit traders for providing experience and practical knowledge trading in the market. Because where else would you seek trading advice right, that should be ask from the traders themselves. With such competitions, it could also create a community where psychology are prioritize because after all trading is a mental and performance game.

However competitions for having the largest gain could lead to bad habits of overleveraging. I think in competition it would be better to measure it by consistency of results than the largest percentage gain.

synchronym

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Usually traders hope for high profit by trading, many times it is seen that the high profit comes and gets damaged by being too hasty while trading. Therefore, in trading, we must acquire enough knowledge about trade because if we do not have enough knowledge about trade, then we will not get much success through it. In the field of trade, we always have to have a long-term plan. Many times it is seen that newcomers come to trade in a hurry, so we should not rush and check the market. In trade, however, we have to be patient, many times we lose patience, so we have to trade without losing patience.

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Quote from: Cryptoababe on April 22, 2024, 04:46:01 PM

Traders mostly enter the markets to make profits or accept losses. But these days, trading platforms incentivize traders with attractive rewards and events.
An example is this event which offers lucrative prizes like Louis Vuitton bags, Rolex watches, and even a Tesla car for achieving higher trading volumes.

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

But at the end of the day, still going to be a win-win situation for the exchanges themselves. Yeah, they can incentivized traders with this so called attractive rewards and others. However, this is just a business model that everyone can used, even gambling platforms have this kind of promotions to attract gamblers like for example, win a tesla cyber truck.

So it's all gimmick moving forward. Maybe you can justify it like that you will have gain experience from joining the competition. But at the end of the end, the winner will likely have spend a lot of money too and who knows, even if they won this so called big prices, they could still be in the negative side of the trades.

OrangeII

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Well, trading campaigns do have many advantages. Apart from being profitable for the exchange itself, this also encourages traders to be more active in trading. This not only helps improve traders' skills, but also adds experience to traders in competing in trading. Apart from that, this also makes traders more prepared to accept the risks of trading for a certain period of time.

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Quote from: Cryptoababe on April 22, 2024, 04:46:01 PM

Traders mostly enter the markets to make profits or accept losses. But these days, trading platforms incentivize traders with attractive rewards and events.
An example is this event which offers lucrative prizes like Louis Vuitton bags, Rolex watches, and even a Tesla car for achieving higher trading volumes.

It is quite interesting and tempting especially if you are new to trading. But I don't think this would gain interest from old traders, not in this case as it only is particular in Bitget. Well, of course, I support this kind of marketing strategy believing that Bitget can be trusted but in those suspicious platforms, I'd rather say NO.

Quote

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

They will be getting serious about this because traders are expecting something in return. Otherwise, this will be a reason for dragging down their reputation and that also ruin the entire crypto market. I hope this won't just be a sort of competition but a sort of making trader more realistic and careful with their actions.

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Quote from: Bitcoin_Arena on April 22, 2024, 04:57:34 PM

Except for maybe just gaining experience, a variety of traders lose out on the rewards that are usually given out to the few. Such competitions mostly favor whales as they have very high trading volumes unlike retail traders with small accounts.

Compared to the prizes top traders win, exchanges often make a lot from trading fees in such competitions. They are just aimed at upping an exchange's revenue.

This is another strategy for trading platforms that will eventually create a high demand most especially for those who are eager to trade and make profits. But of course, just like gambling casinos, these trading platforms have already planned this to increase their exchange’s revenue, but at the same time, it also offers an advantage for traders as they can be an outlet to harness the trading skills of these traders, and develop new strategies that will definitely work for them. So at the end of the day, both parties will benefit. It’s like 50-50 scenario after all.

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Quote from: boyptc on April 22, 2024, 05:49:45 PM

Those that are good can join them but for someone like me that don't trade a lot but wants to make some profit, maybe if you're qualified to join and just want to experience how it goes, you may try to go.

The incentives that the traders will get there could also help them more with their trades if ever they win. Those prizes are good amounts and encouragement to those that are good in trading.

But, there's always the minimal requirement that's needed and it's not for everyone to join.

Well, it takes good trading strategies so you will be more confident to join the competition. And unfortunately, not all traders are capable of that. But everything can be learned in trading, it just takes time to increase your trading experience in the market and you’re good to go. Patience and market consistency are the keys. If you are not patient and consistent in learning, then obviously this is not for you.

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Quote from: Bitcoin_Arena on April 22, 2024, 04:57:34 PM

Except for maybe just gaining experience, a variety of traders lose out on the rewards that are usually given out to the few. Such competitions mostly favor whales as they have very high trading volumes unlike retail traders with small accounts.

Compared to the prizes top traders win, exchanges often make a lot from trading fees in such competitions. They are just aimed at upping an exchange's revenue.

While this type of trading competition can be taking advantage of our trading fees, but isn’t this a good activity that will also motivate us and improve our trading skills and strategies? Certainly yes. With the prizes at stake, even big whales will also develop interest to participate, hence creating more traders to be more competitive on their chosen field of career, or side hustle.

Topic: Trading campaigns helps level up trading for traders (Read 460 times)