Trading competition, a plus or minus

[Dondeon]

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.

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[Horionion]

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.

[wywoc]

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.

[Serco]

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.

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.

[traderethereum]

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.

[batang_bitcoin]

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.

[yangongear]

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.

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.

[South Park]

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.

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.

[irixo10]

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.

[palle11]

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.

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.

[Furryball]

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

[coronga]

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.

[OasisDre]

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

[Lordhermes]

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.

[Sanugarid]

 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.

[Gunday_07]

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

[Coyster]

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.

[ElmedoRator]

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.

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.

[Eco_111]

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

[coinfinger]

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.

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.