Hey guys, so I was just wondering after I saw some flyers of KCGI tournament on X, how do you trade the bearish market?
As a newbie, my first thought was sell, sell, sell... but trading in a trading competition will require buying and selling. Plus, traders won't be given demo accounts to blow. Plus, you need to own it before you sell it?
I believe I have a lot to learn though so I am using available resources to do that. However, How much skill is needed for trading competitions?
From personal experience though, trading in a bear market is very possible, but making profit is x2 harder, this is particularly for those trading the spot market though.
For the futures market, it's still easy to make money from trading whether it be bear or bulk season, the trader just have to know what he or she is doing, which involves knowing when to long the market, or short it.
To be honest with you, i personally don't trade futures since I am not yet well experienced in it to take it as a day job, so I focus solely on spot market, and to me, bear season is the best time to just invest in some really promising coins and tokens, while in the bull season, one can trade, since in this season, it's easier to profit in trade than during bear.
And talking about the trading competition, not everyone participating in it will trade profitably, most are gonna lose money in trading to earn the top spot, but if they are among the winners, then they use the prize money as a replacement for the money they lost in trade.