How to approach a trading competition??

[Finestream]

More than trading skills and strategies, trading itself also requires luck. So if you are going in a trading competition, make sure you are feeling lucky because that will help you to make those trades turn favor on you. And also, you need to be more patient on the market, if not, the risk to lose will increase its chances due to wrong decision making. And lastly, if you can’t be good in leverage trading, then at least leverage yourself in trading. That way, you will gain more possibilities in maximizing your profits as well as lessening your trading losses.

[Peanutswar]

Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

I didn't participate any trading competitions at all because the goal of it is the highest win rate and profit right, I have my own pace of trading so I don't need to get bothered with the others people makes a huge amount of earning than me well there's particular reward with the winner but I'm just a small time and casual trader seeking small amount of gains with the market volatility. I guess ideal is to explore more learnings so you can use those tools in different situation when you make a trade.

[dunfida]

Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

Best approach? Stick into your own trading style and dont get pressured specially when you are on a trading competition yet this would be still mostly goes after on how profitable you are or the volume that you do generate out. It will really be basing up on the mechanics on which it would really be something casual or talks about profits you had made. Dont get stressed out or make yourself that desperate because on the time or moment
that you are chasing up something then it will really be disrupting you to make good trades. Just do on the things that you do or getting used to and you would be able to see that you are doing just fine.
Just accept that there would really be that better traders out there which is normal, if you are doing something great then you would be placing yourself on the top as simple as that. When joining up competitions then
just do your best and accept on whatever the outcome it would be. In competition then there would really be those winners and there would be those losers on which it is really just that part of it.
Thing here is that you shouldnt really be losing up your cool on the time or moment that you do find yourself on such condition.

[crwth]

Trading competitions are awesome, especially if you are a top-ranked trader. First, I think you need to see what parameter you are going to compete for. Is it going to be ROI, volume, quantity of trades, etc.? If you are capable of making high-frequency trades, I think you could be one of the top performers in that competition.

You need to look for easy access and an exchange on which you have an account, and with that, I think it could already be possible.

[Hamza2424]

Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

The only tip is to prepare a big big big capital amount haha and a good risk management strategy, as it won't be surprising that you are competing in a $20k to $30k trading competition on any platform with $ Million capital and the pair you were trading due to its volatility you lost $50k and got tricked by marketing strategy as exit liquidity by the team.

Aslo this is one of the most covered topics I can mention a few below as I've bookmarked them at that time.

https://ninjastic.space/topic/5501165
Has Trading Competitions competitions led you to challenge your skills?
Why Not A Crypto Trading Tournament Like Having FIFA eWorld Cup
What is KCGI?

[stadus]

Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

Experience will tell it all. If you have a wide experience trading in the market and has been a trader from scratch and is already making trading developments by now, I guess you don’t have to worry a lot if you participate in a trading competition. Your knowledge, skills, strategies and your overall confidence will be your asset in trading that will make you gain an edge over other traders.

However, if you are still learning the process of trading and yet you are eager to participate in trading competition, that creates higher risk and pressure on your part. Prioritize first your market exposure and trading experience. When you have achieved that already, good results will eventually follow when you trade.

[Iamcrypticguy]

More than trading skills and strategies, trading itself also requires luck. So if you are going in a trading competition, make sure you are feeling lucky because that will help you to make those trades turn favor on you. And also, you need to be more patient on the market, if not, the risk to lose will increase its chances due to wrong decision making. And lastly, if you can’t be good in leverage trading, then at least leverage yourself in trading. That way, you will gain more possibilities in maximizing your profits as well as lessening your trading losses.

You guys have been really helpful here. Gotten lots of insights.

[mirakal]

Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

I didn't participate any trading competitions at all because the goal of it is the highest win rate and profit right, I have my own pace of trading so I don't need to get bothered with the others people makes a huge amount of earning than me well there's particular reward with the winner but I'm just a small time and casual trader seeking small amount of gains with the market volatility. I guess ideal is to explore more learnings so you can use those tools in different situation when you make a trade.

Most likely those are the goals of joining in a trading competition. But more than that, it also creates a challenge on us whether we can be extra good and reliable trader, and not just good enough not to consistently lose at all.

I think the best approach towards a trading competition is through your self-confidence that despite of uncertain future market direction, you will still be able to manage or even redirect your trade so you won't end up seeing your trade going wrong and cause you instant losses. Be a wise and smart trader, not just a knowledgeable one.

[BitMaxz]

More than trading skills and strategies, trading itself also requires luck. So if you are going in a trading competition, make sure you are feeling lucky because that will help you to make those trades turn favor on you. And also, you need to be more patient on the market, if not, the risk to lose will increase its chances due to wrong decision making. And lastly, if you can’t be good in leverage trading, then at least leverage yourself in trading. That way, you will gain more possibilities in maximizing your profits as well as lessening your trading losses.

You guys have been really helpful here. Gotten lots of insights.

He is wearing casino sigs. That's why he thinks that trading is based on luck. If you have a lack of knowledge about trading, all positions and decisions you make are purely based on luck.

You can study technical analysis and test your skills on Tradingview for free with Paper money do it consistently and you should notice something how the price reacts sample in support and resistance or in order block/fair value gap if you study technical analysis I'm sure you will notice them and you will get some idea where to place a position.

Look at those real traders who join the competition and become the top traders. Do you think it's all based on luck that is why they got the top rank?

[Zanab247]

Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

Experience will tell it all. If you have a wide experience trading in the market and has been a trader from scratch and is already making trading developments by now, I guess you don’t have to worry a lot if you participate in a trading competition. Your knowledge, skills, strategies and your overall confidence will be your asset in trading that will make you gain an edge over other traders.

When you are knowledgeable about the trading competition and you are capable to use any amount of money to trade in the trading competition, I believe you will be recognize among other traders in that competition because the amount of money you are using will make them to recognize you in the competition. Don't forget to go with faith in that competition, because once you conclude in your mind that you will be successful in that trading competition which is faith, you will surely become successful with your skills and knowledge you are going to apply in the competition.

However, if you are still learning the process of trading and yet you are eager to participate in trading competition, that creates higher risk and pressure on your part. Prioritize first your market exposure and trading experience. When you have achieved that already, good results will eventually follow when you trade.

And, it can also make you to lose what you have made before because the trading competition required knowledge which you must have before thinking of joining the competition, because what you are going to see in that competition is what you have experienced or experience from other traders in the past that will make you to earn reasonable profit.

[fullhdpixel]

More than trading skills and strategies, trading itself also requires luck. So if you are going in a trading competition, make sure you are feeling lucky because that will help you to make those trades turn favor on you. And also, you need to be more patient on the market, if not, the risk to lose will increase its chances due to wrong decision making. And lastly, if you can’t be good in leverage trading, then at least leverage yourself in trading. That way, you will gain more possibilities in maximizing your profits as well as lessening your trading losses.

You are saying that luck is more needed? But I think it was actually the skills and strategies are the two's that are needed the most and luck should only play a minor role here. Feeling lucky can only be a feeling and it does not mean that we are really lucky when we are now trading. Also, if we are not feeling lucky we must still try our luck but like I said earlier, trading must mostly rely on skills and strategies, so if we believe that we have them at a better level we must not have an excuse to not do it.

Trading is fast-paced and if patience can matter here, that will only be to continue trying until we are now back on the greens again because some days we can also be a loser. Like it or not, we need to take risks because this is the only way to profit and how can we know if we are now good in trading or lucky if we don't try?

But if we keep on making the same lose result, we may need to pause for a while and analyse if where we have gone wrong and what can we do in order to improve it. Before leverage trading, it must be the normal way of trading or also called as spot trading first. So, if we are not good at leverage or we jump on it quickly, we actually need to downgrade for a while and not leverage evenly.

[Coin_trader]

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

You can only win on trading competition if you huge volume of capital since most of the contest mechanics revolves only on trading volume as main criteria to determine winners. There’s a lot whales that compete with tournaments that has million of dollar capital which is impossible to beat as regular trader regardless of your strategy.

My strategy before when I’m still active on trading is to buy and sell quickly a less volatile token using high leverage to amass volume quickly with minimal losses.

But now you can use the exchange bot to do grid trading for you.

[avp2306]

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

You can only win on trading competition if you huge volume of capital since most of the contest mechanics revolves only on trading volume as main criteria to determine winners. There’s a lot whales that compete with tournaments that has million of dollar capital which is impossible to beat as regular trader regardless of your strategy.

My strategy before when I’m still active on trading is to buy and sell quickly a less volatile token using high leverage to amass volume quickly with minimal losses.

But now you can use the exchange bot to do grid trading for you.

Sometimes there are people fall by having wrong expectation on their trades and they only think about consistency is important for them to win always on their trade. But in terms of there's competition involve those who have huge volume most likely have huge chance to win.

And if they only trade small amounts or can't afford to become a whale then they should focus to  create more better trading decision and much better for them not to spend time on something that not necessary for them to pay attention. I usually dispose immediately once I already see or get a good profit already and never plan to hold altcoins since for me its super risky to decide to do that. But in bitcoin its different story since what I did to this coin is to hodl it for long term.

[adzino]

Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

Most of the competitions are based on the trading volume of the user. So be aware of the exchange fees. The fees that you will be paying each trade might kill any small profits you are making. Sometimes you might end up paying more in fees than you could win even if you are in the top of the leaderboard. The competitions are actually useful for high volume traders as those rewards help them minimize the fees spent on each trade. If you still want to join the trading competitions, be careful with coins that are extremely volatile as they can mess you up real quick without you even noticing. You might end up making loss that even the top prizes cant cover.

[lixer]

Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

Most trading competitions held by major exchanges rank users by the size of their total trades. If that is the case in a competition you are willing to join, you should see if you have good enough capital to compete with other users because only being profitable wouldn't help in that case. However, if the users in a competition are ranked based on their profitability which means that whoever has been more profitable in the week or month will rank higher, then you can have a chance no matter how much your capital is.

This is one of the most basic things you need to look for when you are joining a trading competition. Other than that, you surely need to see how good you are with the market and whether you are getting profits constantly or not because constant profits are the key to winning such competition.

Some platforms would rank users itself in weekly or monthly competitions based on their trading activities if they are doing good.

[adultcrypto]

Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

If you want my candid advise, I will suggest you stay away from trading competitions because it turns you into a reckless trader. In trading competitions, you will definitely over leverage and most times get margin call. The few times you will be lucky to win such over leveraged trades, you will start feeling like a champion and will be tempted to apply this in your personal account and you will get hurt in the end. If you want to go far in trading, manage your capital even though it may be small, you can compound and grow gradually.

[Adams0001]

More than trading skills and strategies, trading itself also requires luck. So if you are going in a trading competition, make sure you are feeling lucky because that will help you to make those trades turn favor on you. And also, you need to be more patient on the market, if not, the risk to lose will increase its chances due to wrong decision making. And lastly, if you can’t be good in leverage trading, then at least leverage yourself in trading. That way, you will gain more possibilities in maximizing your profits as well as lessening your trading losses.

Trading competition is not suggested for those who are not excellent in trade because he might cause them to lose all of their funds. It is better to trade on your own and learn without competing with others. Trading is a risky activity that can cause you to lose control and overstake in order to increase profits. If you are a professional and believe in yourself, you can participate and potentially profit, but it is a high risk that can result in both wins and losses.

Trading on your own is preferable because you will have a better understanding of the market and can find mentors who can assist you when you don't understand something so that he can guide you through and gradually increase your profits until you are perfect and confident in yourself that you can do anything and be profitable. So, in my opinion, I prefer to trade my own without competing with anyone, just focus on yourself because if you are looking for people trade, you will be worried about why they are getting more than you and you don't know what challenges they face before they are perfect and be making huge profits. is not about competition is all about patient and learning and developing your self on it.

[shawonngp]

Hey traders, hope your week is off to a good start! Mine’s been profitable because I'm currently shorting BNB, haha. But that's not why I'm here. I’d love to hear about your experiences participating in trading competitions and get some tips.

What should I look out for, how should I prepare, and what’s the best approach? All suggestions are welcome!

I have some experienced in trading competition although it's happen in the recent like in this month, i participated in DOGS coin trading competition in the bybit exchange, but here a requirement was like minimum 500$ worth of trading and more trading volume will give more coins, i will suggest don't start trade with big amount, because if which coin is huge dump then you can not recover it easily.

[Septex]

To be more profitable by trading you must analyze the market. Because only through market analysis you can achieve a lot in this regard. One more thing about trading is that you can never be in a hurry and you have to make a deliberate decision. Many people find that while they gain early in the trade, they become overconfident which causes them losses at the end of the day.  So you must be strategic and wait for the right time. When you trade you must start trading with a plan and you must start this plan in advance.