Trading competition, a plus or minus - page 2.

Lagduf

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Quote from: Idrix1 on July 03, 2020, 06:25:17 PM

Quote from: Dondeon on June 30, 2020, 08:42:08 AM

I am not creating this post to engage in argument but to voice my opinion. To some some people, trading competition is a good strategy to increase the prices of coins, at first it may appeared so but in the end, trust me, it is the surest path to crash. Every single person in trading competition is there to make profit, no one is ready to lose, everyone is waiting to pull out at the slightest opportunity either to make profit or to stop loss. Now you know why the price of such coin will go down below normal. It might also interest those participating in trading competition to know that it might also be a way to dump on you. No one is saying you shouldn't take part in trading competition but be smart. Everything that appeared to have advantages have also got disadvantages. I asked if is a plus or minus, I guess you know the answer by now.

Trading competition seams a two way thing but I'll go with plus because it's main aim is to introduce the project to a wider audience of traders and nearly everytime a trading competition is organized by projects especially upon a new listing, a lot of traders becomes aware of it and start using it for trading

Trading competition is also being organized by the team too. The trading competition is also having the main purpose to introduce the project to all of the users on its platform too.
In another side, if that was also making the people will go to the short term speculation only.

matchi2011

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Quote from: Idrix1 on July 03, 2020, 06:25:17 PM

Quote from: Dondeon on June 30, 2020, 08:42:08 AM

I am not creating this post to engage in argument but to voice my opinion. To some some people, trading competition is a good strategy to increase the prices of coins, at first it may appeared so but in the end, trust me, it is the surest path to crash. Every single person in trading competition is there to make profit, no one is ready to lose, everyone is waiting to pull out at the slightest opportunity either to make profit or to stop loss. Now you know why the price of such coin will go down below normal. It might also interest those participating in trading competition to know that it might also be a way to dump on you. No one is saying you shouldn't take part in trading competition but be smart. Everything that appeared to have advantages have also got disadvantages. I asked if is a plus or minus, I guess you know the answer by now.

Trading competition seams a two way thing but I'll go with plus because it's main aim is to introduce the project to a wider audience of traders and nearly every time a trading competition is organized by projects especially upon a new listing, a lot of traders becomes aware of it and start using it for trading

For developers who are working with this strategy, bringing investors and traders by means of such competitions might work
for the short run, though its also possible that it can harmed the project itself
once the dumped started, and manipulations can't be avoided due to traders who
knows how to work with people sentiments.

CaVO32

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Quote from: NS-Soul on July 03, 2020, 06:03:33 PM

Quote from: Dondeon on June 30, 2020, 08:42:08 AM

I am not creating this post to engage in argument but to voice my opinion. To some some people, trading competition is a good strategy to increase the prices of coins, at first it may appeared so but in the end, trust me, it is the surest path to crash. Every single person in trading competition is there to make profit, no one is ready to lose, everyone is waiting to pull out at the slightest opportunity either to make profit or to stop loss. Now you know why the price of such coin will go down below normal. It might also interest those participating in trading competition to know that it might also be a way to dump on you. No one is saying you shouldn't take part in trading competition but be smart. Everything that appeared to have advantages have also got disadvantages. I asked if is a plus or minus, I guess you know the answer by now.

In my opinion trading competition is used to get more traders to participate and to get more volume so some investor would notice that coin, aside from that trading competition is just pump and dump of the coin to create more volume they didn't care about the price as long as they have volume.

That is actually the drawback of this activity, as it appears that one way or another, it promotes the pump and dump scheme. So if you are a trader participating on this competition, you should be very smart on how you handle things here, as others have already advised. Otherwise, you will be left empty handed. There are pros and cons, depends on the trader. So if you want to join this kind of activity, you should have clear goals so you know how to strategize. Don't be so greedy, just make sure you are on the positive side before it ends.

Idrix1

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Quote from: Dondeon on June 30, 2020, 08:42:08 AM

I am not creating this post to engage in argument but to voice my opinion. To some some people, trading competition is a good strategy to increase the prices of coins, at first it may appeared so but in the end, trust me, it is the surest path to crash. Every single person in trading competition is there to make profit, no one is ready to lose, everyone is waiting to pull out at the slightest opportunity either to make profit or to stop loss. Now you know why the price of such coin will go down below normal. It might also interest those participating in trading competition to know that it might also be a way to dump on you. No one is saying you shouldn't take part in trading competition but be smart. Everything that appeared to have advantages have also got disadvantages. I asked if is a plus or minus, I guess you know the answer by now.

Trading competition seams a two way thing but I'll go with plus because it's main aim is to introduce the project to a wider audience of traders and nearly everytime a trading competition is organized by projects especially upon a new listing, a lot of traders becomes aware of it and start using it for trading

NS-Soul

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Quote from: Dondeon on June 30, 2020, 08:42:08 AM

I am not creating this post to engage in argument but to voice my opinion. To some some people, trading competition is a good strategy to increase the prices of coins, at first it may appeared so but in the end, trust me, it is the surest path to crash. Every single person in trading competition is there to make profit, no one is ready to lose, everyone is waiting to pull out at the slightest opportunity either to make profit or to stop loss. Now you know why the price of such coin will go down below normal. It might also interest those participating in trading competition to know that it might also be a way to dump on you. No one is saying you shouldn't take part in trading competition but be smart. Everything that appeared to have advantages have also got disadvantages. I asked if is a plus or minus, I guess you know the answer by now.

In my opinion trading competition is used to get more traders to participate and to get more volume so some investor would notice that coin, aside from that trading competition is just pump and dump of the coin to create more volume they didn't care about the price as long as they have volume.

witbla

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Quote from: hwteeer on July 03, 2020, 12:41:03 PM

Centric? It seems that I haven't heard of such a platform before, can you please provide more details on what the solution stays for?

Basically, Centric is a web 3.0-based payment network composed of two digital tokens that promote stability, incentivize structure for early adopters, and safely store value. The exchange between the two tokens is governed by a decentralized smart contract and a self-regulating protocol. But you should better Google guys to check out more on what they are bringing

hwteeer

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Quote from: witbla on July 03, 2020, 12:40:36 PM

No, I wouldn't say so. I am only having 2 or 3 most attractive ones I am following. And latest discovery I would definitely recommend everyone to have a look at - Centric Foundation. Have you already heard of such a solution? Cause you know, in here guys are setting entirely new standards on the industry

Centric? It seems that I haven't heard of such a platform before, can you please provide more details on what the solution stays for?

witbla

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Activity: 154

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Quote from: hwteeer on July 03, 2020, 12:40:20 PM

Absolutely so and I agree with you that it is not easy to find several tokens that widen the horizons and set new standards on the industry. Talking about you, are there many solutions you can recommend in general?

No, I wouldn't say so. I am only having 2 or 3 most attractive ones I am following. And latest discovery I would definitely recommend everyone to have a look at - Centric Foundation. Have you already heard of such a solution? Cause you know, in here guys are setting entirely new standards on the industry

hwteeer

newbie

Activity: 112

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Quote from: witbla on July 03, 2020, 12:39:55 PM

Such a strategy makes sense, but you know, what I would also say - it is not easy to find multiple solutions that meet requirements. What I mean is evaluating the factors. From my point of view, platform must be advanced, reliable and, of course, bring real and practical value

Absolutely so and I agree with you that it is not easy to find several tokens that widen the horizons and set new standards on the industry. Talking about you, are there many solutions you can recommend in general?

witbla

newbie

Activity: 154

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Such a strategy makes sense, but you know, what I would also say - it is not easy to find multiple solutions that meet requirements. What I mean is evaluating the factors. From my point of view, platform must be advanced, reliable and, of course, bring real and practical value

Surrapatt

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Quote from: miklesm on July 03, 2020, 02:02:09 AM

I know Binance is often holding trading competitions for different projects and the token price usually grow after such announcement. Still, such activities are not very profitable for ordinary traders with small deposits.

That is very reasonable, because by name alone is a trading competition, it is clear that those who have large deposits or large capital will feel a big profit and can even win there, although it is not easy to win.

bastian466

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Often encounter exchanges that hold trading compositions indeed the gifts offered are very large I often find in new exchanges there are also old ones but I have never followed them because I keep focusing on my goals and I do a lot of long term trading

kapalmabur

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Activity: 2002

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trading competition is good enough to raise the price of a token or coin, I take a sample that has just been completed, the HOMT on probit, the increase in the HOMT is very impressive, and really works well, if a new token is traded with the competition, I'm sure the price can be good in the exchange

Ulven

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In general, if you have enough experience to join the business competitions of new projects and you have enough money, you can earn some profits, but you must be more careful because such competitions are risky you must conclude a short-term deal.
I personally have not yet tried to join such competitions, because they require a well-thought-out strategy, which is why I am still looking for the perfect way to make an income.

alicea

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The trading contest provides market volatility and huge volume which can in turn give us good profit/loss during the contest period but winning the contest is next to impossible for mid-level traders.

I see the trading contests as a good thing as it can help increase your portfolio if you know what you are doing

OrangeII

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Quote from: lobo13hf on July 03, 2020, 12:57:54 AM

Quote from: OrangeII on July 03, 2020, 12:44:14 AM

this is done to attract trading users to view their coins and compete in that. it could be that the benefits they get are greater than the gifts they give. I think, doing a contest like that in a certain amount of time is not a problem. it's just, the disadvantage of this is when the project is not so desirable. it will become a bomb for themselves.

I guess the participants will be participated and then after the competition has already ended and they will be leaving the market for sure. I have been seeing so many people were leaving the market when there was no any competition again.

Yes, that's why I mentioned that the disadvantage of this strategy is that if the coins are not desired, and traders only want the prize. it will make them leave the token after the trading competition is over. however, strategies for developers themselves need to improve the quality of their projects before attracting traders in that way. if the quality is good, many traders will survive.

miklesm

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I know Binance is often holding trading competitions for different projects and the token price usually grow after such announcement. Still, such activities are not very profitable for ordinary traders with small deposits.

DoubleEdgeEX

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Merit: 17

A huge minus imho!

It incentivices people to take unjustified risks
By presenting the winners, they give false hope to get rich lucksters who than think they can get rid of all their money issues by following that path. That usually just leads to more debts for those poor folks.
Scammers take advantage of gullible people selling them their "99% success rate system" for hilarous amouts
I don´t think a serious trading pro would participate in such a competition, but even if so, he might be there just to prove a point

tsaroz

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Quote from: Dondeon on June 30, 2020, 08:42:08 AM

I am not creating this post to engage in argument but to voice my opinion. To some some people, trading competition is a good strategy to increase the prices of coins, at first it may appeared so but in the end, trust me, it is the surest path to crash. Every single person in trading competition is there to make profit, no one is ready to lose, everyone is waiting to pull out at the slightest opportunity either to make profit or to stop loss. Now you know why the price of such coin will go down below normal. It might also interest those participating in trading competition to know that it might also be a way to dump on you. No one is saying you shouldn't take part in trading competition but be smart. Everything that appeared to have advantages have also got disadvantages. I asked if is a plus or minus, I guess you know the answer by now.

Trading competition are actually useful for only a small number of large traders or another small group that are focusing on the specific coins. They hold no significance to small to moderate traders and for exchanges, it's a good way of keeping whales on the exchange. Even for exchanges, large traders are much more preferred than smaller ones that generates more traffic but less fees. Even if you are a large trader, it would not be good to change your strategy just for the competition.

Kunnu

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Trading competitions look attractive and beneficial but the reality is it can be very risky especially for new traders who don't have much experience about trading and the other side experienced traders may take trading competitions as advantages because they understand that it can be beneficial for them to make profit in short period and their trading experience may helpful for them.

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