So for those that are familiar, how do you approach a trading competition and is there anyone ongoing that you know? You can send the links below.
First of all, am not a big fan of trading contest because you will act and be taking trades you shouldn't have because you are desperate, but if you are not in any pressure to trade, you might take a single trade in a whole week and even make more than those that trades constantly every day throughout the week because all those traders they took will be unsuccessful traders due to pressure of trading because others are already making it, so my advice to you is that their is no need getting into a trading contest because you might even liquidate your margin in the process due to constant taking trades that is not worth it.
Furthermore, the best way to make money in the market is to trade less, because you will only be trading a set up that is 100% certain, but if you get into a trading competition, you have practically removed that patience you once have because you will be desperate in your actions.
Actually its not bad to join up with those tournaments or competition in trading but the best approach to this is that you shouldnt be that anticipating that you could be a winner. Why? it will be indeed that making you desperate on which you wont be able to think up well because you are already that longing for the prize pot. Thinking up realistically about these competitions is that you should be wary that there are tons of whales out there on which that generating that soo much volume or simply does have that big capital on which simply means that they can make out those big positions than you and generate volume more than you. If you do find yourself that being a shrimp in the sea then its better not to make yourself that delusional on winning up or trying out to get some slice of the pie because this will be just that making you disappoint just because you've been expecting something better. The best approach when you do or participating on a contest is that you should be that trying out to learn as much as you could despite on having that less or small capital. Dont expect about on winning because its nearly impossible with having that less amount of capital you do, not unless if there's some specific amount being instructed then you can take a shot but still not that enough to become that optimistic just because there's no way on beating up those people who are on the top. If you are just that new and trying out to swim together with those big fishes then you should that know on how to go with the flow. Always think about on how you would be able to sustain and be able to survive on day to day living. Joining up contest isnt that easy to win because you are dealing with those best of the best traders out there and if you do find yourself just that recently learning then it would be just that too wrong that you would be that thinking that you can beat them up. lol. Trade accordingly basing up into the learnings that you have obtained in the past and do make yourself that keep improving as things becomes that more better or you are gradually been able to have that good grasps towards the market. Its not easy but its not that impossible, the main thing that you should be targeting into is on how you would be able to learn up and trade up independently and once you have acquired up such skill then this isnt something that would be taken from you.