How feasible to make 10x in 7days?

[wozzek23]

I would say making 10x is not impossible but quite difficult. If anyone newly joining trading plans to make 10x out of their investment will only wind up losing everything they have in their portfolio. These competitions are meant for experienced traders who know their way around and can make profits consistently. Without a proper strategy and risk management in place, this will never be possible. You can still watch the live-stream and try to learn if you get any opportunity but do not get carried away and avoid investing any money just because you see someone making profits.

Hundreds of people might join the competition but the ones to actually make 10x out of their investments will only be a handful. Rest everyone will either be on break even or majority will end up in loss. The exchange will anyhow make profits with the trading fees and that's why they would spend money in promotions making it look much easy to make 10x in just 7 days. But let's all be realistic here. That is not really that easy to achieve.

[tvplus006]

These competitions are meant for experienced traders who know their way around and can make profits consistently...

The result of this contest confirms the fact that even an experienced trader cannot increase his deposit 10 times in 7 days. It is worth noting that some contestants not only failed to increase their deposit, but even lost part of it.

[uneng]

It's simply gambling with your money. You can also make 10x your initial bankroll through bets, but it comes with high risks of losing everything. With trading it's the same. If it was easy to make money like that, from where the profits would be coming? In order for few to profit, many have to lose. When traders profit, it means there are other traders losing money. After all, it's a market which don't aggregate or create value for others. It works around speculation, and speculation isn't something people should rely on for a living.

[Kelvinid]

As a trader, this really caught my attention. I’m not joining the challenge, but I’ll be watching the livestream and keeping up with it just to see if something like that is even possible.

Not just not even possible but impossible. What this trader did was to entertain viewers. From $500 to $5,000 in 7 days? If you are an experienced trader, you will surely find it impossible.

Anyway, not all who talk nicely are true to their words. Some of them are telling lies just to gain attention. And not all we saw online was true. Many were faked to look real and believable.

So we don't make it difficult to figure out because our experience could somewhat tell.

[tottong]

As a trader, this really caught my attention. I’m not joining the challenge, but I’ll be watching the livestream and keeping up with it just to see if something like that is even possible.

A 10x return in 7 days is a significant figure for a beginner trader, and even experienced traders sometimes can't guarantee it.
Don't be fooled by the positive narratives of some people who make promises, because while this isn't an invitation, it can further influence the psychology of beginners who want to engage in it.
Trading is quite risky, and no one can predict the numbers you mention with 100% accuracy.

Under certain circumstances, you might be lucky enough to make some profits before reaching the 10x return in 7 days mark, and after that, your motivation will be high enough to make a large deposit.
Remember, trading is quite risky if someone lacks knowledge and skills.

[Pandorak]

First of all, you must realise that "high risk equals high return", you cannot earn big money with low risk. In the world of trading, nothing is certain. The momentum that is created will not always be in your favour. Managing your money remains the most important factor, alongside the strategy (technical analysis) you use to analyse the movement of a particular coin. If you trade recklessly, it is only a matter of time before you lose all your hard work. You may win consecutively, but if you lose once, you will lose everything.

[WatChe]

First of all, you must realise that "high risk equals high return", you cannot earn big money with low risk. In the world of trading, nothing is certain. The momentum that is created will not always be in your favour. Managing your money remains the most important factor, alongside the strategy (technical analysis) you use to analyse the movement of a particular coin. If you trade recklessly, it is only a matter of time before you lose all your hard work. You may win consecutively, but if you lose once, you will lose everything.

This is very common in crypto trading that people lose huge money in and they quit saying it's a scam or fraud. But in reality, there are traders who are getting good profit from crypto trading because they have control over there emotions and follow a discipline approach. Crypto trading is not just about opening a trade randomly and then waiting for market to go in your favour, this approach will only give you loss. The best approach is to spend some time in learning and understanding the crypto trading. Never take crypto trading as a way to become rich overnight.

[programmer3666]

As a trader, this really caught my attention. I’m not joining the challenge, but I’ll be watching the livestream and keeping up with it just to see if something like that is even possible.

10x in seven days in this situation is impossible maybe the trader will do future trading and they will hunt in lower time frame because otherwise they don't stand a chance but even making 10x in this market is an art but if they really do it because most are scams.

I have seen many offers like this where they take your money, or commision, while they make you trade so you can make 10x, why they don't take such risk with their own money, why they don't take responsibility of our funds, they want stable income for them by feeding on the stable income of others.

I think having that thought of making 10X in 7 days feels more like just stylishly trying to gamble rather than actually doing the real trading, to poosiblity of pulling it off is very slim, even if one is to make use of the future trading with high risk leverage because clearly some of these 10x setups are tactically done to attract traders funds not really inline of skill exhibition, because normally if someone truly has a skill or strategy good enough to achieve that, then he or she would not need funding from other people, instead they will fund themself with small amount and grow it silently.

[terrific]

The feasibility of earning that much in 7 days is probable.
But counting that much in that span period of time is a hurry. Although there are traders that can make more than that.
They can do that with a pair that they know they'll make money with because the quickest that they can do through their analysis.

[HONDACD125]

I agree with those saying that such challenges are basically to make people gamble with their money, and I wouldn't recommend anyone doing that at all. Trading is not about chasing extreme profits, it's about making profits only, and those profits doesn't need to be very high in a short period of time. I would personally never participate in such challenges, and I would also urge others to not do it. Besides, a trading style that suites one person doesn't necessarily have to suite you as well, they might be able to make profits with high leverage, but it doesn't mean the same will happen with you.

If you are a trader, have your capital, have some knowledge about the market and trading techniques, then you should do your own trading instead of following others and doing it their way. You should know your risk appetite, you should know your profit targets, you should know whether how much money you should use for each trade, etc. So, it's only you who can think the right way about your trades and about your money. The one conducting the challenge could possibly afford to lose the money he is using, but can you? One should always ask themselves this question.

[aysha9853]

10x in 7 days sounds nice but in reality it is closer to gambling than trading, on big caps like BTC or ETH it is basically impossible without insane leverage.

[devhazard]

10x for 7 days only on DeFi…

[ScamViruS]

10x in 7 days sounds nice but in reality it is closer to gambling than trading, on big caps like BTC or ETH it is basically impossible without insane leverage.

Trying to make 10x in 7 days is like playing with fire. Because to make such a large profit, you have to do high leverage trading, and those who trade know how terrible the consequences of high leverage trading can be. Currently, various media, including YouTube, are promoting this high leverage trading as normal. People are turning new crypto investors into high leverage trading gamblers, resulting in people losing a lot of money doing high leverage trading. Therefore, traders should be educated about what trading is, and how dangerous high leverage trading is. Proper trading knowledge will set a new trader up for success in the market.