Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Smcchamp on April 23, 2024, 11:41:43 AM
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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.
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I don't advice entering a competition when you not yet skilled or experienced.
Is not worth it
You will make losses that wouldn't meet the reward. Future trading is risky like very risky as a newbie trader focus on spot to build your experience before jumping in a sea filled with sharks.
Don't forget people competing are individuals that have been running future trading for years or sometime. Not to sound persimistic I don't see you winning. Just focus on building on your skill steadily and gaining experience in spot not future though.
Personally though I would advice on long term holding. It's more profitable and less risky in the long run.
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I don't advice entering a competition when you not yet skilled or experienced. Is not worth it You will make losses that wouldn't meet the reward. Future trading is risky like very risky as a newbie trader
I would 100% agree with this advice most especially for a newbie like you. Future trading is not something that a newcomer like you should get into as there are more risks here...though seasoned traders can do well since they already have their foundations laid down and they know the many ins and outs of the business. Though, if you think that you know how to control your risk exposure, then get in for the sake of the experience and the lessons you can learn. All I would say is: be always careful and never let your emotions ruin your decision-making process. Good luck, man!
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I don't advice entering a competition when you not yet skilled or experienced.
Is not worth it
You will make losses that wouldn't meet the reward. Future trading is risky like very risky as a newbie trader focus on spot to build your experience before jumping in a sea filled with sharks.
Don't forget people competing are individuals that have been running future trading for years or sometime. Not to sound persimistic I don't see you winning. Just focus on building on your skill steadily and gaining experience in spot not future though.
Personally though I would advice on long term holding. It's more profitable and less risky in the long run.
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..
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My simple advice for you is to learn trading first and when you master it then you may take part in such competitions. I can give you 10 + more advices as a trader but those won't be helpful for you, as you're taking part in that competition purely because of the greed part, and trust me greed is the worst enemy of the traders.
Just begin learning trading by taking some good online courses and when you learn enough of the concepts then you may try to make a trading plan that may allow you maximum success rate. Make a proper trading strategy with a very good trading plan then you will be profitable as a trader.
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Futures trading is the riskiest I've ever experienced... where when you start entering the realm of futures trading, you shouldn't force yourself to use high leverage from the start. It's true, it offers high profits when you start trade with high leverage, but understand that many assets are liquidated due to futures trading using high leverage.
So... start with the smallest leverage... that you can apply first to start exploring the world of futures trading.
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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.
The rewards are not worth the risk of your money.
Futures is a kind of trading should be avoided by all no matter how good they're in trading and since you said yourself a newbie don't even bother trying.
The most common criteria in such competition is to have certain amount of trading volume in the given time which could be met by someone who has huge trading capital in just one or two trade.
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I'm a newbie trader who recently came across a futures trading challenge.
If you're a newbie trader, you need to focus on first increasing the knowledge that you have by learning and sharpening your skills through more educational materials or personal experience shared with you by another trader, because engaging in a trading challenge before you're ready to partake in such a challenge can put you in a state of mind that you get depressed from losing and will get you thinking that trading is not something for you or something that you can ever be successful in.
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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.
- Trade to win the LV bag, Rolex and Tesla model S！ (https://www.bitget.com/events/activities/d5c01060cd3f58d0a81278ec49cd78cf)
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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.
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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.
There are several things I caught from your post here:
- You are a newbie in trading
- You are also a newbie in future trading
- You want to take part in the future trading challenge/competition
- You still don't know how.
then, all I can say is:
Don't follow the challenge.
Yes, why?
Because you really aren't ready for that. Did you know that futures trading is very risky? Even if you can make money, will you really run out? Are you aware of that? Or are you just thinking about the prizes and high profits that you can get from future trading? If yes, forget it. Future trading is more risky than ordinary spot trading. Even if you don't understand how to do it, this will be very risky.
It's better if you prepare yourself first, learn about spot trading first. If you understand indicator analysis, both TA and FA analysis, then you can start to increase your insight and knowledge in future trading. It also requires a lot of perseverance and knowledge. Because the risk is very high.
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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.
What's your reason why you want to go futures trading when you're a newbie?
This might hurt you, but my tip if you want to join these trading challenges, don't join them at all.
Trust me, you will lose your money because you want to achieve enough trading volume for you to be eligible for the rewards. Those who has a huge capital at first, and those who have the knowledge are the ones that will be getting those rewards. Newbie trader doesn't stand a chance to those experts that's why not participating in these trading competitions is the one that I will advise to you.
If you really want to trade, learn more, get some experience and in a few months to years' time, if you are profitable in trading already, that's the time when you can compete for those rewards.
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You have confirmed that you are new to trading but you want to know about futures trading even though you are new to trading. You probably know about the fact that you can make a lot of money in a short period of time only through futures trading, but you may not be aware of the risks involved in futures trading. Futures trading is very much like gambling as in gambling you can lose your entire money completely, in futures trading if you trade with the expectation of extra profit and if the market goes in the opposite direction you will lose your money in no time. I would advise you in this regard first get a good understanding of spot trading and try to understand the market through spot trading and take risks then you plan for futures trading. First of all, if you plan on futures trading, the outcome is likely to be against you.
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Several time I participated in trading challenge exactly with Bybit have trading challenge every new coins listing, I checked with how many participants requirement and comparison with how much reward allocation for every user.
Usually I like with trading challenge reward based on altcoin reward distribution not get estimation in how much reward will earn if winning the trading competition, in Bybit has flash coins trading challenge with reward in altcoin and potential raise up to $100 above and its enough t cover how much fees spending with capital for trading. Not interested with trading challenge reward has allocated around $20 to $30 because requirement trade altcoin with potential loss around few percent.
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There are two situations that we need to address here. If its just a competition and you are not using real money (like its some demo trading type of thing) then we are going to suggest that you just go for the riskiest and biggest because if you end up winning then you end up winning and if you lose then you lose, the chances of doing safe and still win is impossible because you would have to end up with a lot of opponents who would just go for broke and risk it as much as possible. I would say that if its real money then as a newbie you should try to avoid that type of thing as much as possible, because it won't be possible for you to win against veterans when we are talking about real money.
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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.
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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.
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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.
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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?
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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.
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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.
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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.