How to approach a trading competition??

[milewilda]

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!

Those peoples that we see make an competition about the trading are those who have already have much experience about the, but I wonder some people that they just started instead of them should be endure and lean in other to get a lot of experience about trading: Bit they will be after competition with those that have become experts.

When we come to trade we need to extra very careful, some of people’s will go and participate competition without having a proper knowledge of the trading or knowing their own market strategies, but if a person is lack of knowledge about the markets it will never succeed in trading.

On the moment that you've seen some competition and you do have that kind of confidence in regarding into the skills that you do have or the knowledge then you would really be considering out on joining
on some competition since you do have that kind of confidence that you could really be able to compete with other traders as well. Unlike when you are just starting up then you would really be having that kind of
hesitance in regarding into your trading skills on which its likely that you will be joining up with these things since you do really know on what you are really that dealing into. On the time or moment that you've seen yourself joining up then its impossible that you cant be able to tell the differences when it comes to skill specially if you have seen those profits gaps made out by other traders. Actually its not really that bad on joining up some competitions on which this could really be giving out that kind of training or enhancing yourself to become more even better. There are individuals who do really that treating up these things to be challenges
and not to getting up the prizes or rewards but rather they do really just that tending to go with the flow on what these competitions that really that trying out to give out.

[justdimin]

On the moment that you've seen some competition and you do have that kind of confidence in regarding into the skills that you do have or the knowledge then you would really be considering out on joining
on some competition since you do have that kind of confidence that you could really be able to compete with other traders as well. Unlike when you are just starting up then you would really be having that kind of
hesitance in regarding into your trading skills on which its likely that you will be joining up with these things since you do really know on what you are really that dealing into. On the time or moment that you've seen yourself joining up then its impossible that you cant be able to tell the differences when it comes to skill specially if you have seen those profits gaps made out by other traders. Actually its not really that bad on joining up some competitions on which this could really be giving out that kind of training or enhancing yourself to become more even better. There are individuals who do really that treating up these things to be challenges
and not to getting up the prizes or rewards but rather they do really just that tending to go with the flow on what these competitions that really that trying out to give out.

Having that confidence is a big deal, not everyone has the same confidence and sometimes you end up making a greater return and sometimes you don't and we shouldn't be really considering how much we know what we are doing and could be just trusting ourselves way too much, but that's still better than not trusting ourselves at all. The reality is that these competitions tests your limits, and sometimes you are good and you could make it and could earn something, sometimes you do not make that much profit and you end up losing because of it but you learn from it.

The more you learn from it, the better you will do and the more profit you will get, so do not consider losing as a bad thing. End up doing whatever you can as best as you can and you should be fine. Trusting yourself doesn't mean that you trust yourself to win, it means even if you lose, you will get something out of that competition, learn from your mistakes, get better for the next time.

[Cookdata]

You can still buy a coin during the time of the bull market and make a better profits than those that bought during the bear market. Some people buy a coin during the bear market thinking that they have bought in the cheapest price but after buying, the coin can still drop more and it continues to fall until it gets a lucky break during the bull market and that was when another investors or trader buys the coins. The market is full of surprises and you can surprised at anytime. Trading competition are good because they can make you to improve from the way you use to trade before, some traders are afraid of taking more risk as they are always too careful of how much they want to use to trade and this makes them to not get plenty profits but just average.

Bear market is very tricky and if you have never been there, you can fall this trap you just explained but are applicable to coins that are new in the market. There is no way you will buy Bitcoin in a bear market and someone that comes late to the party will make a reasonable profits than you, coins like Bitcoin has made recovery and has done a new all time high than any coin that existed in the entire crypto space, only altcoins are still struggling from their floor price.

The best way to avoid what you just explained is to buy coins that you know are capable of recovery no matter the sentiment of the marke, but and continue to do DCA with the rest of the price continuesly. Keep buying at every point in time the market continues to dump, you will reach a price where you will be average with the price and wait till the market recovery is done before money can be make back.

[Iamcrypticguy]

You can still buy a coin during the time of the bull market and make a better profits than those that bought during the bear market. Some people buy a coin during the bear market thinking that they have bought in the cheapest price but after buying, the coin can still drop more and it continues to fall until it gets a lucky break during the bull market and that was when another investors or trader buys the coins. The market is full of surprises and you can surprised at anytime. Trading competition are good because they can make you to improve from the way you use to trade before, some traders are afraid of taking more risk as they are always too careful of how much they want to use to trade and this makes them to not get plenty profits but just average.

Bear market is very tricky and if you have never been there, you can fall this trap you just explained but are applicable to coins that are new in the market. There is no way you will buy Bitcoin in a bear market and someone that comes late to the party will make a reasonable profits than you, coins like Bitcoin has made recovery and has done a new all time high than any coin that existed in the entire crypto space, only altcoins are still struggling from their floor price.

The best way to avoid what you just explained is to buy coins that you know are capable of recovery no matter the sentiment of the marke, but and continue to do DCA with the rest of the price continuesly. Keep buying at every point in time the market continues to dump, you will reach a price where you will be average with the price and wait till the market recovery is done before money can be make back.

Bear market is kinda tricky and funny.. nobody talks about DCA enough. It's a life saver man

[Gladitorcomeback]

The more you learn from it, the better you will do and the more profit you will get, so do not consider losing as a bad thing. End up doing whatever you can as best as you can and you should be fine. Trusting yourself doesn't mean that you trust yourself to win, it means even if you lose, you will get something out of that competition, learn from your mistakes, get better for the next time.

You are right, and when it comes to trading, when you win, you gain profits. When you lose, you gain experience and knowledge because every wrong decision makes you learn one wrong way of doing that, so losing might be bad for your finances. Still, it is suitable for your knowledge and experience.

We see a lot of people giving up when they incur losses in the initial stage of their trading careers. They feel they are failing and can't do it, so it's better for them to stop doing it instead of losing more money. The right way is to learn from the mistakes and improve so that you don't make the same mistakes again. That is how professional traders have reached where they are today. Everyone starts from scratch, and to reach the top, you need to grind and go through hardships, of course.

So, as a trader, or anything that you are doing in general, always learn from your mistakes and use that knowledge to improve your skills.

[GeorgeJohn]

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!

You know trading is all about risk and since trading is all about risk, what we needed to do in trading is to minimise the loss and increase our profiting strength, with that I think you're on the safer side, so let us understand that, some people derived applications to apply whenever they're trading, so you can derived your own application method to make you to compet with others

[Zoomic]

The more you learn from it, the better you will do and the more profit you will get, so do not consider losing as a bad thing. End up doing whatever you can as best as you can and you should be fine. Trusting yourself doesn't mean that you trust yourself to win, it means even if you lose, you will get something out of that competition, learn from your mistakes, get better for the next time.

You are right, and when it comes to trading, when you win, you gain profits. When you lose, you gain experience and knowledge because every wrong decision makes you learn one wrong way of doing that, so losing might be bad for your finances. Still, it is suitable for your knowledge and experience.

Joining trading competitions can actually help one learn some new strategies and gain some experiences, but it is not just the right way to learn more about trading. Anyone wishing to join a trading competition must have equipped themselves with with the basic knowledge about trading because inexperienced and unskilled traders stand the chance of making mistakes that will make them lose money and lose the competition too.

For newbies, it is important that they prepare very well before joining a competition. Poor preparation might lead to frustration and impulsive decisions, making them learn more after some silly mistakes.

[dunfida]

The more you learn from it, the better you will do and the more profit you will get, so do not consider losing as a bad thing. End up doing whatever you can as best as you can and you should be fine. Trusting yourself doesn't mean that you trust yourself to win, it means even if you lose, you will get something out of that competition, learn from your mistakes, get better for the next time.

You are right, and when it comes to trading, when you win, you gain profits. When you lose, you gain experience and knowledge because every wrong decision makes you learn one wrong way of doing that, so losing might be bad for your finances. Still, it is suitable for your knowledge and experience.

Joining trading competitions can actually help one learn some new strategies and gain some experiences, but it is not just the right way to learn more about trading. Anyone wishing to join a trading competition must have equipped themselves with with the basic knowledge about trading because inexperienced and unskilled traders stand the chance of making mistakes that will make them lose money and lose the competition too.

For newbies, it is important that they prepare very well before joining a competition. Poor preparation might lead to frustration and impulsive decisions, making them learn more after some silly mistakes.

Learning experience is the key on which dont make yourself that anticipate that you can win up the competition specially when you are just new or starting up. There's always those who are far more better than you on which simply means that winning up the competition will really be that tough for you but it doesnt mean that you wont really be participating with these competitions.

This will really be adding up on your learning curve and will really be able to be helpful on your trading on which on the moment that you do know on how things works and keeps on learning on everything new
by joining up these competitions then just continue on doing it until the moment comes that you do get in line with those old and good traders out there. Just take it slow and dont
rush up yourself to be profitable because this is where mistakes do usually happen.