Topic: Trading campaigns helps level up trading for traders - page 2. (Read 407 times)

If they are a wise trader yes but if not, they think those items are more worth it for their losses. For us non-traders, we are against those schemes like that made by exchanges because it's obviously a type of manipulation but there are people who don't mind that only to gain a benefit.

The second promo you said there is still expensive for a poor trader and for those who can afford it, they can either receive a minimal reward or they are not guaranteed yet to get rewarded because it will mostly get raffled but the prizes this time is a little better. I'm sure a lot of wise traders are still going to think twice for this and can end up not participating on it.

Yeah, obviously OP is beyond any doubt. There is no doubt that there may be risks in trading. In trading you have to change stances under a proper strategy because, as you said, on one side there is a there is a huge gain or decline, while on the other side there is liquidation. So monitoring all these and making your strategy or plan based on them is quite difficult, that is, trading needs a lot of effort. And if you didn't know about these points so indeed you can lose. became crypto market is a high volatility based market in it one thing has to be taken into consideration then there is a chance that your loss ratio will be low. But it also depends on you and what your stance is against the volatility of the market. 
 
So it means that it is correct to say that if you do not have full market awareness in trading, then you can lose. became of high volatility as well as market liquidation. So all these all points should be analyzed and acted upon otherwise, the other option may be lost.

Even with the smallest prize to get $50 SOL must have a trading volume of $2,000,000 let alone if you get a Tesla model S car - $2,000,000,000 must have such a trading volume then this is only the pope can do it, like we will not be able to have such a volume.

What if they have a loss and do not get a profit because they do not reach the target, then here many say that it is the event organizer who will make a big profit from the trading fee commission.
For me this is something that is difficult for anyone to do, unless they have millions of dollars but like us who can do this?
If you only do motivation and strategy in trading then just trade normally if you follow this event there is always pressure where you want to achieve high volume but in the end there are losses.

it is good to make a positive research before entering market of trading because if you don't make a proper research in Trading you will not be able to make a profit so many of us today who lose in trading such thing happened to them because of lack of experience when you understand the system of trading very well I don't think that you will experience much loss it's not that you know it very well in Trading but at least you will be making a profit in any of your trading so before we open a trading market we have to observe the movement of the candlesticks and they also know if the market is going to be favorable to us or not that is why it is advisable to make a proper research before we enter into trading

Bitget is really encouraging people to trade. It can be a motivating factor but I'm not sure how effective it was in making traders improve.
IMO, this is another marketing trick used by the said platform and a way to build community. For starters, this could be a good opportunity for them but I'm not sure old traders will find it attractive because, for me, I prefer to stay on the platform that I am already familiar and comfortable with. It was not the prize or any rewards but what is most important for me the reputation and funds security. But of course, there is harm in trying especially those who are in search of trading platforms.

Hmm, there's no doubt that it is a win-win for traders and the projects both, trading volume and activities can be motivated by such events but these activities possess some kind of risk as well, mostly new project launches such as token rewarding or asset rewarding events in which they mostly restrict the user to trade with their suggested pair only, which can cause a loss if team play any shady trick don't hat time, so never get lost with the rewards by ignoring the risk management.

Haha, at the same time, these Bonus picks are for the whales who already possess a much larger capital and don't desire to risk more with such promotional campaigns, but the random distribution events really attract the retail users as well.

Yeah.. The risk in trading is always taken into account. Especially during this high volatility period. Apart from the event, trading is for people who really have the mind to take anything in the market because where there is huge gains, there is also liquidations. And one needs to be fully aware of these.

Yeah.. There is always minimal requirement and most trading events are not for everyone to join. At times, the event can be for some specific regions also.

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.

To be honest, I see it the same way. I have often taken part in gambling competitions on various platforms such as WinDice in the past. The result was always the same: Whales with the corresponding amount of Bitcoin on the respective casino won the competitions and took the prize money (which in some cases was well over 0.1 BTC in 2018).

Unfortunately, this is also the case with trading competitions. A whale simply takes 100 BTC, exchanges it for USDT and immediately swaps it back ... and has a trading volume of 200 BTC. Someone with just a few BTC will never achieve such a volume, even if they carry out the trades constantly ... especially because fees are then also due and reduce your own holdings. 

Trading campaigns are not for every traders, newbie traders, inexperienced traders and traders without sufficient trading funds will likely not win in these competitions, they'll end up over trading and burning out their limited trading capital. Whale traders and experienced traders are the most suitable contestants to win these competitions because they have the money and skills to go far and win. Just like the casino owners, the trading competition organizers are not charity organizations, they're into business to make profit, and the more competitor's means more fees and popularity, so as they're rewarding winners, they're also gaining.

IMHO, every establishment has their own ways of marketing their platforms and that's just part of everything. As for these trading competitions, it's possible that they're attracting new users of their platforms but have been trading in some other exchanges. It's actually a good way to promote and gain more good traders into their platforms. Because the more, the better and more commissions they get from each of the trades that these good ones make.

It's a competition and just like @Bitcoin_Arena says, only whales will take advantage of this kind of promotion and it's not a competition but rather a campaign ad to have more big traders to come join their site. Though it would be nice if they offer a daily challenges to players or side quest they can beat to have a special discount or might get a new coin offering  or they'll have at least a discount in the trading fee or something like that.

In this way all traders no matter small or whale could enjoy up and would definitely help them to grow and keep trading entertaining.

Yeah. Because even when the traders suppose to do the best thing he won’t since his mind will be in where he will get those things from and exchanges also he will use huge amount of money to trade so that he will be the winner of the competition which is not the main problem here. The things is these trading platforms are doing advertisements and this is what some traders are still yet to understand, those people are not doing this for the sake of motivating their customers to use their platforms for more than the time they have been using it, they are doing it because they want to get more people in their platform, and this is what some traders did not understand.


Also they should get more traders to joint their platform and trade using the exchange, so some traders who are still yet to even get enough skils to trade, are rushing to join the exchanges to trade and risk their money which most of them may even lost, because there is no way you will trade without the knowledge of trading, and this one is competition, which I believe it will make them risk more than what they can afford to lose.

It's okay if you call it a campaign but it has been conducted since a very long time. If I limit the time, I would say since over 20 years now. And of course, it has been helping traders and it can come in different forms. I became what I am in trading today because of these kinds of programs, and what helped me mostly was the programs where brokers would invite interested traders to post on their forums, just like what we do here and will be giving us incentives. The arrangement is that the money you accrued through your activities on the forum would be deposited into your trading account as bonuses, and you can trade it as you like.

The profits gained from it can also be withdrawn with no questions asked. I must say that I participated in such a program for over 10 years and I made so much money and most importantly gained enough trading knowledge. This helped me stop losing money directly by depositing in my trading account and that alone is a big encouragement for me to keep on learning even as new deposits are entering my trading account weekly. What a grace!

Today, if I flash back, I always appreciate such a program that made me train, test, reorganize and restructure my trading systems and styles until I eventually discovered myself and my path in trading. But unfortunately, those of Bitget and others are not so the same, but at least, could still prompt traders who believe they can win something, and for this, try their luck. But for me, I rather prefer the demo context to all these, after all, nothing is to be lost even as you gain more expertise.

I do not see those contests with the same light, since on their desire to obtain one of those prizes, traders may overtrade the markets or leave behind their money management strategy and use too much money for each one of the positions they open, so even if they were to win one of those prizes, most likely they will lose more money than what it could have cost them to buy the item outright, plus this could lead them to develop mistaken habits which could later cost them even more money.

It looks like exchanges are now following the path of crypto casinos. Casinos are known to attack new and existing gamblers by holding wagering competitions in the past to increase their revenue. The same is being done by the said exchange to get new traders and attract existing traders. I do wonder how many traders have won those awards and whether such competitions are completely fair towards the traders. I have seen Binance and a few more exchanges organizing such events but they do not offer physical rewards, they offer tokens which I think is fair enough as participants do get to see their rewards.

I think this kind of event will test your discipline and risk management levels, such as how you perform under pressure. It's a good challenge, and even better if you can meet the requirements and compete for the listed prize. I would have taken on this challenge myself, but unfortunately, I just noticed that the campaign is only open to users in the UK, Canada, Australia, DACH, France, Italy, Netherlands, Sweden, and Poland.

I do not see any problems with participating in trading competitions, they can serve as a motivation to make you improve on your trading strategy and become a more successful traders. They also have their bad sides but you are incharge of letting those bad effects to have an impact on you. You do not have to forget about the discipline you should have as a trader and ignore your trading strategy because there's a competition that you want to win. If you trade and lose, you do not have to continue trading when you know what is motivating you is a prize reward and not because you have reanalyzed your strategy and you saw some mistakes that made you to lose the trade. Trading competitions should only motivate you to becoming a very good trader that follows all the guidelines to prevent losses and not letting trading competition shift your attention to sometimes different.

These types of contests favor the whales. Well, they are being favored every time, right?

I bolded the text so many can see that the contest or in this case campaigns is based on the trading volume. Average investors can join, but their chances of winning would be lower because those who are rich are the ones that will win. If not the rich people, those who are expert in trading are the ones that will win. If an investor will join solely for these types of campaigns, then I guess it isn't worth the try especially if you're a newbie.

It would be better to just trade as it is and don't focus too much on these campaigns. I know that these are being added on these Centralized Exchanges to attract investors, but at the end of the day, your main goal when you're trading is to make more money and not these items.