Tips for participating in trading challenges/competitions

[Faisal2202]

Hey altcointalkers, what's good?

I'm a newbie trader who recently came across a futures trading challenge. To qualify for the rewards, you need to meet some requirements. As I've never done something like this before, I'd love to get tips and tricks from experienced traders who have participated in a trading challenge. Would be glad to hear your response.

If you are a newbie trader then I will suggest you to avoid future trading as you can lose it all in one go and then you will regret recently a good traders having 3+ years of experience, lost million in one night just because he was doing future and market dipped and he was talking about suicide, but fortunately he left with some funds so he can start his journey again. The point is future is highly risky and its not for newbies.

You can do future, I am not stopping you but I am not doing it, find it equal to gambling, that's why I won't suggest this field to you, if you have less funds then wait a little bit and make small profits, once you will have enough profits then you should do spot on bigger scale and make bigger profit. Having less knowledge of trading, and joining future trading competition will empty your wallet in no time.

[jeraldskie11]

Hey altcointalkers, what's good?

I'm a newbie trader who recently came across a futures trading challenge. To qualify for the rewards, you need to meet some requirements. As I've never done something like this before, I'd love to get tips and tricks from experienced traders who have participated in a trading challenge. Would be glad to hear your response.

Because you are a novice trader, I wouldn't recommend joining the futures trading challenge if you are unable to generate a profit. Trading challenges include several criteria, but I'm confident that winning trades is one of them. So, if you can make profit, especially if you are consistently winning trades, the challenge is good for you. The participants in the trading challenge came from many countries, and I believe they are quite profitable. So you should consider carefully about whether or not you should participate in the trading challenge.

[Smcchamp]

This is a really good advise. Will focus more on my skills improve. But I should share it here. Maybe more experienced traders could benefit..(Google search Trade to win the LV bag, Rolex andTesla model S) to know more..

First of all, my advice for all traders is to hone their trading skills and emotional management.

Regarding the trading competition, you may be referring to Bitget's event. As I can see, the competition's requirements are not related to profit but only to trading volume in Future trading, typically millions of USDT. I do not participate in Future trading and do not know specifically how to calculate trading volume on Bitget. Can we use 1000 USDT and leverage x100 to get a volume of 100K USD? I hope that participants in this competition and other Bitget users will provide more information.

I don't know if you are a new trader, but if you are, do your research and be careful with future trading.

Trading volume is usually calculate using PNL and starting with 1k usd could be a good idea but still depends on your trading skills to rack up more profit than loss to hit the targeted trading volume. My focus here is the minimal $50 Sol reward for the 2m usd trading volume cos that's feasible for me right now.

MrSpasybo here's a proper explanation of the Bitget's challenge. It's based on transaction volume as max cryptic explained. Min is 2m USD trading vol. This should be a motivator for me to sharpen my skills.. cant wait to show y'all my progress.

[Smcchamp]

Hey altcointalkers, what's good?

I'm a newbie trader who recently came across a futures trading challenge. To qualify for the rewards, you need to meet some requirements. As I've never done something like this before, I'd love to get tips and tricks from experienced traders who have participated in a trading challenge. Would be glad to hear your response.

Because you are a novice trader, I wouldn't recommend joining the futures trading challenge if you are unable to generate a profit. Trading challenges include several criteria, but I'm confident that winning trades is one of them. So, if you can make profit, especially if you are consistently winning trades, the challenge is good for you. The participants in the trading challenge came from many countries, and I believe they are quite profitable. So you should consider carefully about whether or not you should participate in the trading challenge.

Thanks. What book would you suggest for my development?

[Mr. Magkaisa]

Hey altcointalkers, what's good?

I'm a newbie trader who recently came across a futures trading challenge. To qualify for the rewards, you need to meet some requirements. As I've never done something like this before, I'd love to get tips and tricks from experienced traders who have participated in a trading challenge. Would be glad to hear your response.

      -     You said you were a newbie, right? then you immediately entered futures trading and trading challenges. I'm just asking if you have any ideas on trading or know anything about it? because if your answer is nothing or just a little, maybe the only thing I can tell you is don't start there in futures trading.

it is better and better to start with the spot first because the futures trade is too complicated to do. if those who have knowledge of futures trade often still lose, you are still a newbie. But if you insist, it's up to you as long as good luck with the losses you will experience there.

[jeraldskie11]

Hey altcointalkers, what's good?

I'm a newbie trader who recently came across a futures trading challenge. To qualify for the rewards, you need to meet some requirements. As I've never done something like this before, I'd love to get tips and tricks from experienced traders who have participated in a trading challenge. Would be glad to hear your response.

Because you are a novice trader, I wouldn't recommend joining the futures trading challenge if you are unable to generate a profit. Trading challenges include several criteria, but I'm confident that winning trades is one of them. So, if you can make profit, especially if you are consistently winning trades, the challenge is good for you. The participants in the trading challenge came from many countries, and I believe they are quite profitable. So you should consider carefully about whether or not you should participate in the trading challenge.

Thanks. What book would you suggest for my development?

To develop your Psychology in trading, I recommend to read "Atomic Habits" and "Trading in The Zone". There are also lot of books for trading that are good to read but make sure to read that first. Honestly, trading psychology is very important in trading because you can't survive in the long run if you have a bad mindset even if your trading strategy is working, because every time you trade there's a emotion and if you can't manage your emotion well it will end up losing your funds in the long run.

[bayu7adi]

I've never been interested in taking part in a trading challenge either, because I'm not confident with the size of the assets I currently have. Those who have tens of millions of USD have an easier time winning this competition, even though the prizes are never commensurate with the profits they have made.

As long as you are still a beginner, it's a good idea to keep learning trading like other beginners, and postpone taking part in trading contests. There are still many lessons that can be learned and can be maximized to generate profits.