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?
During the bearish season, trading can be profitable when a trader scalps out profit on a very short period either going long or short.
To me, on a bear market the duration of the trade is what brings about the profit or corresponding loss. At a short period most times ranging from 15mins to 1hr time frame, with huge capital, traders can gather alot of profit by analyzing their trade accurately.
On the point of trading competition, I haven't joined anyone before, so I can't really tell how it works and probably how winners are selected either on merit or randomly.
But trading on a personal motive to acquire profit will be much more safer for traders like me whose still trailing to become professional.
Since one is not competing with anybody to wrongfully rush into trades and make losses and still end up not winning the trading competition, you can keenly take a longer time to watch the market properly before placing trades and trade peacefully.
I guess trading competition are for expert traders.