Bitcoin Forum

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 can be very dangerous if not properly handled. It will either be to your advantage or disadvantage but most times after the end of the competition, the price of the coin normally go down beyond control at times. We must be smart to take profit from trading competition. I will prefer the price of coin to grow organically than trying to increase the price through trading competition.

Well, you probably don't know about the many Futures trading contests on many derivatives exchanges that still take place often. If you have the ability, the prize is very attractive, when they spend hundreds of thousands of dollars on the winners. And of course, it will not affect the market of any coin.

this is the main reason dev team will launched trading competition , it just to prevent price dumping in market so no one will complain while competition run smoothly..but actually when trading competition periode ended , price will drop alot as you said. traders liquid their position and wait competition reward as they profits.

I never try to join the trading competition because I know that I am not capable of trading as well as other people.
I prefer to trade as usual, so I can try to make my own profit from different coins.
The trading competition will needs skills in analyzing the coin movements, and sometimes, the price will move fast, which will make you difficult to analyze.
If that happens, you will lose some money, but I don't know if you can recover the lost or not.
Maybe you need to learn more about trading so that you can compete with the other trader.

It's for the wise and smart traders. If the mechanics are really for the newbies then that will be a hard thing but most of these trading competitions isn't just about to look for those people that are great in trading.
This is also part of their marketing, you get to attract people trading that coin so that the volume will also increase. That's how it works and these competitions are playing big part in endorsements.

I think you have a bad understanding of these contests. In my opinion, the main purpose of the organizers is to increase the liquidity of the coin when being listed on the exchange. Because most of those competitions are competitive in trading volume, almost without affecting its price.

However this increase in the volume of the coin is artificial, it did not come from a genuine interest from the community, it came about the interest on the trading competition and the possible rewards they can get, and as soon as that ends the volume and the liquidity will go down almost immediately, and every good trader knows that that means, it means that sooner or later the price of the coin will follow and if the decrease of the price is too big this could generate panic creating a crash in the process, so trading competitions seems counterproductive for the overall long term health of a coin.

To voice my opinion as well, I do not think trading competition affects the price of the token however the reverse is the case which is sustaining the price of the token for a particular number of days. If you notice, trading competitions always happen during the early listing of the token on exchanges thereby to keep a good trading experience at least keep the price from crashing hence the reason for it. As for those who participate, they are the ones that have good trading skills and as such their reward is always worth it.

Yeap risky. It is merely a means to create activity and pump the coin. A bad project always get dumped in your hands which because a loss because volume may keep dropping.

I found trading competitions to be too risky that's why I've never tried one out, I thinks it's best to join popular projects trading competitions, way better even if they are from top exchanges like Kucoin, binance etc

Only good for big trades, if you don't have a large amount of coins you will not even have a chance to be into the top 10, most of those competitions are only for those that have a lot of cash, and a few not even worth for they to try.

My advice is only join trading competitions of popular projects that have massive trading volume and liquidity on exchanges this way you won't get caught in loss, all you need is to stay away from unpopular projects most especially those with low marketcap

Obviously, before the 2017 bull run, trading competition was perfect and used to raised the price of a coin and many participants were involved which make everything moving smoothly. Immediately after the bull run as market capitalisation and volume decreases, trading competition became a means of fast take profit scheme, bounty hunters had been the victim of this incidences because they never received during trading competition, so therefore, trading competition is not worth participating now or else be careful.

 I just have to disagree with you especially with what you said, " no one is ready to lose ", first and foremost trading isn't a job you will crush yourself if you expect to gain every day with trading, maybe that is where you lost yourself into understanding what trading is, and the competition that lies on it. Facing the market of uncertainty plus the volatility is a high risk to deal with, In fact many traders have already quit on trading. I don't participate in any trading competition since you got to need a pretty huge amount of money to top that competition, sad to say that most of participants are taking risk more than the traditional trading.

For someone new like myself trading competitions is a minus and also I think newbies shouldn't jump into trading competitions, it's more risky than normal trading, you need to have some trading experience before jumping into trading competitions, trade to win not to lose

I would not mind joining in a bitcoin trading competition if i was great at trading, the competition is innocuous, except if you are new to trading and or put "more money than you can afford to lose into the competition". In every competition or sport you can think of, everyone is obviously there to win, so also is the case in a crypto trading competition and it can't be a con against it, if you aren't ready to compete and prolly lose, then do not bother participating.

Agree with you, this contest is only for those who have a lot of money and can control the volume of the competition. If there is too little money then we should not waste time with it because surely we will never be able to become the winner.

Don't join new projects trading competitions, you can lose easily but if you join popular projects trading competitions there is nothing to be worry about, just trade normally and try avoiding getting rekt, don't focus much on what prize you will earn after the competition is over, instead focus on taking advantage of the trading, buying low sell high, just keep repeating this

For some people it is a way of having fun and they do it because they have money to risk and play the game and if they win in the trade war, then they are lucky, and if they don’t win they will still take it like that and wouldn’t bother themselves. It’s only problem when you don’t have enough money and you’re still trying to take such a risk. You never know when you will end up losing money. And when you lose a money you can’t risk, then it becomes a problem as you will struggle to get back the money for a long time. Always best to be careful and do things you know you’re able to.

I am seeing some competitions on my usual exchange whenever they do list a new coin/token. I am not sure how people do take part in those competitions regardless of analyzing its true potential or like where/when to buy and sell. I guess they must be entering blindly just for the competition's sake as they are risking with all new asset.

but not all traders can earn in trading competition  there is also chances that they may experience lost before they are able to sell the coins.

In competition  to be qualified to win you need to get the highest volume and there is also time that you can only sell the  coins. which is risky for others since we all know that there is a high chance that you cant sell it  the same price you bought that coins once the competition ended and the price will surely decrease after  and it's a lost instead of profit to other traders .

I saw some examples of projects which developers thought that it`s enough to start trading contest and their coin will be popular and will have really good price, but it`s definitely wrong. Trading contests really good opportunity to attract some more attention to cryptocurrency, but I think that it should be secondary way of increasing volumes on pairs and boosting token`s price

it is basically pure marketing, that is in favor of exchanges, since trading on particular coin/token will rise, but at the end, without workable product and good development plan, no trading competition would make some coin useful, so it is good for a start and to get visibility, but project development and idea are the basic of token value, this would just add customers to it, which is important step, but could not make it on its own

I guess all these trading competitions are good for the pro traders. Most people will lose their money if they participate in them coz of pump and dump.

To me, this trading competition is very close to gambling, one need to be very smart to be at the advantage of it, although it will help participants to grow in the trading skill. I am still of very little knowledge in trading, trading competition will help boost token value.the suspicious part of it is when the coin drops. Well, I'm not yet very good at trading, I will have to watch for some moment.

actually I personally have never participated in a trading competition at all, because I think it is very high risk and I heard that participants who have more capital then have a great chance of winning even though competition is very tight. and I think your expertise also plays a role in trading.

To a large extent it does more harm than good. It's just to raise the token price which usually doesn't last for long because all whales wi leave once the competition is over and they will move on with their profit. What a project needs is Investors that will believe in the project and hold for long and not token price pumpers.

I couldn't agree more, your write-up really explain everything in details even the risk of running trading competition. However, certain project that ran a trading competition campaign did actually gain massively from it because it creates awareness about the project to lots of investors

No, it is not a good strategy to increase the price. You have answered exactly, the increase only happens temporarily and won't last a long time. Even after the competition, there is a chance for big drops in price. Anyway, in my view, trading competition is just a way to attract people to a new coin listed on an exchange. Especially for people who want to join the competition, then they must prepare their coins and buy them in a big number. Moreover, if the prize for the competition is quite big, then people are probably competing to buy a lot.

Yes the trading competition is a traps for investors in that races someone can make profit and more investors can lose their some of investment and most important things is we have to understand the situation and utilize that for each entry and exist level in trading competition.

Well it's a two way thing and your point of view to the whole trading competition concept is quite correct. However, trading competition do serves it purpose which is introducing a coin to large audience of traders and i must say some project really kept massive trading volumes and liquidity even after the competition ended because traders often do fall in love with certain coins. I think trading competition isn't a bad strategy as it helps in creating awareness for tokens when they get listed

There will always be the winner in the speculation market and then mostly of newbies are not also looking for the prize from the competition as they can't compete with the whale to get the prize.
Pump and dump is something that can't be avoided from the crypto market.

The main goal of joining a trading competition is to be the winner and win the reward. As we know, the reward of the trading competition is always high and it attracts most traders. We can say that during the trading competition, we can gain the ways of profits and there will be so many transactions in exchange. About the dumping price easily, I think that it will depend on the participants. I'm sure that the participants will not desire to dump the price although it is for trading competition. Moreover, commonly the trading competitions are followed by those who are often joining such competition. So, it may not worry much about it.

If you are to ask me about this think I will say it is up to you if you want to join. Joining trading competitions is good. But you need to understand that you have to risk im trading competitions. Risking more can make you more a winner. Risking less can make you lose lesser. If you want to trade you don not have to focus on winning everytime. You have to study the trading competitions and learn from it so that you can do better the next time around. In trading you can be more efficient in terms of competitions if you would research and stydy more about it. Look and discover new techmiques and strategies.

I believe that people who take part in trading competition are not careless people and people who are already experts in the field, the problem will be people who only participate without knowing the risks involved if everything happens unexpectedly. But all this is back to their choices, trading has become like opium for people who are PRO and trading competition will be a very pleasant thing for them

Many traders who take part in trading competition wants to make money, and they will try to use their skill to analyze the coin. But unfortunately, many of them are not realize that it is not easy to compete with other people who have a different skills than them. I am sure that many pro traders are also joining with that trading competition because making money will be their reason. I think if we can think that our skills are not too good, we don't have to try to join, but we can use the usual way that we already use.

 It's always associated with risks. Those players are well experienced and have a good goal for joining trading competitions. One of the advantage of that trading competition is that they will exposed the particular coin they are trading. And yeah they may affect the price movements as well. Honestly, I want to try this out sometimes but not that confident enough to join.

even professional traders can also feel the lost if they are not careful deciding when to enter the contest . so they are also in the risk like unprofessional  traders when you participating in competition  chances of loosing  is higher you can't avoid this to happen your a pro or not.

The project will be the one who will benefit  with this competition traders will only benefit  if they win which is also low chances unless you prepared to use a lot of money and risk it all.

I think trading competition is a good way to create and keep the value of a token from bounty hunters dumping. When a new project listed to the market bounty hunter dump their token into the market. So trading competition can help to face this situation I think. As long as people want to win the competition they will buy token even project do not have much potential.

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.

if beginners who have a large enough capital to participate in trading competition is very risky, because in my opinion it is a short-term trading where we race to get a lot of volume, but if professional traders the risk is slightly reduced, because they might already be able to read and analyze the coin.

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.

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.

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

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.

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.

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

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.

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

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

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.

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?

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?

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

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.

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

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.

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.

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.

I believe that trading requires a great deal of skill and expertise. It may be unprofitable to those who are not skilled in the process and that could lead to more losses. The trading competition is more of a marketing and advertising strategy deployed by project developers to attract more people to the market. This explains why rewards are given to the people who showed outstanding contributions to the exercise.

As long as the developers can follow and stay alert of the trading competitions and make sure that the price is not getting dump, I think they can run the competitions without a problem. It is a job for the exchange to manage the competitions, and they don't allow the manipulations from many whales. However, that does not guarantee that the manipulations will not happen in the competitions.

You don't need expertise, you need money and time. If you have a bot to buy and sell for you with some minimal gains you can let it run for days and more money you have more will you wager, you can do it manually too, but it will take a lot of time and energy! To win the competition you need to have a lot of trades, it's all about that. You can't win it without losing some money on trades, without profit, here it's important how much you trade, not the profit you make.

Trade for your profits that is the smart choice of a trader but if you are going to other kind of trading methods you are just complicating things which will eventually increase the risk factor.

You are right, they a certain token conduct trading competition in order to maintain or even surge up the price value of that token, and I don't think traders you try to dump the price amidst of the competition since they have a certain goal to win an extra rewards other than getting some profits in that competition.

It looks like you need to know more about this as the traders are not only aiming for the profit but they were also aiming to get the prize from their trade too. They will be getting the double benefits at the same time.

Before, new listed coin used to organise a trading competition in order to boost trading volume and makes the token to rank higher which bring further attentions of the traders to the coin or token. However, as you have suggested it is not a lasting way of promoting a coin but rather build a project that surround the coin which makes the demand of the coin to be spontaneous. This is the only way you have a long lasting trading volume and possible increase in price of the coin or token

Trading is not a competition with the other traders but it is a competition between you and yourself. What I mean is ourselves is the enemy when we do trade, trading psychology is vital if we want to have super performance in trading. There are a lot of many people who have knowledge about trading but they cannot execute it properly because they do not have good trading psychology.

What you say is only suitable for newbies who are just starting to trade in the crypto market, but for traders who are already very professional and have more experience, they will definitely follow the name of trading competition, because the benefits are also very much even though the risk is also large.

Agreed, at the beginning it may seem like a good idea to participate in the trading competition but it is a mistake, it could very easy lead to behaviour that resembles gambling a lot more than trading, after all if someone is close to win the competition but he finds himself in second place he could overtrade with the hope to surpass the one on the first place, creating some kind of bidding war, however it could come to the point in which both traders keep trading not because they want to obtain the profits that winning the competition brings but to not lose as much money as they have traded too much and lost money in the process and that is a clear sign something went wrong for those people during the competition.

To me, I see trading competition as a contest mostly in favour of those that have much to put into it. I stand to be corrected anyway.  Because I did not have much to put into it, I occasionally participate in it.  For those that are into it, it is a good way of making profits.

We are talking about the trading competition event that being held by the exchange site.
It's not related to the how to control ourselves but it's about is it worth to participate in the trading competition? we know that so many whales were also participating on this even. it's not worth for small traders. 

Trading competitions have pluses and minuses
Plus: We can get prizes from our trading activities
Minus: The average coin that is holding a trading competition prices tend to fall

I feel that trading competition can be a plus or a minus. however, it can attract traders, or investors to return to see the coins that we have. it's just that, it will be a plus when a developer develops something new from their project. trading competition can attract investors back. whereas if they do that without consideration, then people will only come to take prizes from the competition.

If you know how to play safe when trading then there is no problem, all you have to do is play to win, the more you trade the higher your chances are to get qualified for the reward, if I have to ask myself about this well I'm not that interested, I prefer buying low and selling high strategy

Are you gonna start ranting about balance in the trade which if there a profit then there is a loss as well? That kinda on philosophy's section but anyway, out of pure view of traders, he doesn't need to know or care about whether there is a balance or not. Competition is fine too since everyone wants to be a winner, not a loser, and this push the market toward a healthy, competitive as a place for cryptos to grow.

I think the  main reason project developers initiate a trading competition is to increase liquidity of such tokens. I got engaged in a trading competition once but didn't win any prize. someone won a huge amount . But i have also witnessed a trading competition and at the end it didn't increase the price of  the token . 

It looks like your competitor was the whale and that's why you are not winning the price. The main purpose from this event to attract liquidity and demand.
People will be focusing to their total profit and how much they have already traded. there will be not pump.

Same as me! I don't like to do things that have to deal with "luck". The cryptocurrency market itself is enough unpredictable things, we don't need to create a new scare! I prefer the coins' price to grow by itself than increasing its value unusually under any circumstances. Trading competition is actually dangerous to the coins' price! I will not take action for that!

Does using bot trading still relevant today? It used to be very popular among trader but the competition of the market makes a lot of bots obsolete and not reliable anymore.