Keeping Engaged in the Market

The market's been buzzing a bit more lately, so I've been doing some casual spot trading, just keeping a steady pace and looking for little profits where I can. I noticed that Phase 2 of the Trading Club Championship has just wrapped up and some traders mentioned they snagged around 50 BGB in rewards just by trading daily. I missed out on that phase, but since Phase 3 is now on, I figured I’d jump in and see how it unfolds. Honestly, it doesn't take much extra effort since it just counts your usual spot trades. If there's a shot at earning some extra on top of what I usually do, I’m all in. Is anyone else considering this phase, or are you sitting this one out?

If you trade normal and not let the contest affect your decision, it is good. But I noticed in most contests, you have to get to a trading volume before you can be qualified. Do not let that affect your trading plan at all which is the decision that I am taking about. Some people may because of that increase their leverage and get their money liquidated. As for me I do not trade to compete.

Sitting it out because I don't trade based on contest, I trade based on my own timing and I always not in hurry. I always see forced trading as the worst trading you could ever do, probably just gonna ended up losing anyway, Might as well be patience. Even if there's ongoing contest I won't do that. I'm not even sure If I'm gonna get the share of the rewards as those usually reserved for either new comers to grow their user base or whales.

If you do it like you usually trade, it may not be a problem. But most of those who participate in trading contests focus on chasing qualifications to claim contest prizes. There is an effort to force reaching the competitive target in the trading volume that must be achieved. You might need to find out the terms and conditions of the contest first. If everything seems easy for you to achieve and will not affect your activities, you might consider joining the contest.

Looks to me like OP is shilling here, and their post history somewhat confirms that OP's account is definitely run by a shiller, prolly another B****t shiller on the block. How about your B****t put in some extra effort into how they market their service and their competitions here on the forum. It would further incentivize people to join in it, don't you think so?

If you conduct your trading activity in the spot market, OP, that's a good method you're thinking of, rather than using leverage or futures for what you're thinking of doing, where I am pretty sure you'll quickly lose your funds in the end. But if you manage to get or can get some small, incremental profits, it would be better if you experience that because at least you'll see that there's something right in what you're doing in that actual trade, OP

Yeah, joining a trading competition should not make one start trading recklessly. Trading futures is more like trading memecoins and it’s best to stick with spot. Decent profits that’s consistently won is better than trading using ‘high risk, high reward’ strategy. I’m also considering joining the competition i saw a trader posted their profit somewhere, it seems the comp. is by Bitget. I’ve been coming across different events online lately. The bullish trend seems to be giving way more opportunities.

Are you a whale? I don't feel any trading competition is suitable for us as very small traders. Because often trading competition required a significant trading volume to enter the competition. Then they select some of the winners based on trading volume, which isn't an easy task for us. Trading competitions are mainly run for increasing the trading volume at all. I was never selected for trading competition myself, because that doesn't influence me at all. If I were influenced by the competition, then my trading strategy would break, which would lead to losing funds as well. I trade according to my own trading strategies; I am not much interested in any competitions. I don't know which exchange you are trading, but I'm wondering how a normal trader would enter the competition without increasing the trading volume.

You wrote my thought out there on that one. I'm never a fan of trading competitions where rules are spelt out and participants will have to abide by them. I hate to have to watch my back because I've to keep to certain rules made my someone else. I like to stick to only my rules while trading. This is why I'm not a fan of prop firms to get a funded account. I've never subscribed to any and won't do that.

The plan to earn something extra has perhaps been what has crashed a lot of individuals who diverted from their original plan and strategy and followed another. If you're already good at trading and you're making consistent profits in small margins, I think what you should look towards doing is trying to improve your profit margin, not getting into any form of trading competition that can affect you emotionally and psychologically even though it does not seem to do so at the beginning. Trade without pressure.

Trading is very risky, and we all have our own strategy to use. when you partake in a contest, it exposes you to high risk because you will be trading under pressure and that will lead to wrong decisions making which will lead to fast liquidation especially, when you use high leverage. I only trade at my convenient time and I don't involve myself in any trading competition because I know that it's a waste of time since I wouldn't win any of the prizes.

Everyone is probably aware of the risks involved in trading, but sometimes some traders prefer to challenge themselves, such as participating in trading competitions, to the point of forgetting that it's more stressful than regular trading. Competitions require traders not only to follow the rules but also to excel in certain areas to win the prizes offered. However, some traders prefer not to participate in such competitions when they realize the pressure and their own inability to win.

Every trading experience is a learning. We just stop making negative assumptions unless we find it worthless. We have to remind ourselves that we must go beyond our comfort zone in order to succeed. Perhaps it is an additional experience that could also help you develop strategies. As long as you never see a problem with yourself, then go ahead. You can try. It is about knowing the reality of these kinds of contests. We never know if they are telling the truth unless we are doing it in actuality. Many questions arise in our minds, and the only answer is to participate.

Good luck then but I know what you are up to here and not just all about that trading story. Anyway, I am not into this phase and I am not active in participating in all of these trading competitions. There are other better traders than me and I have already accepted that fact long time ago. So, for you and the others that are so much active with the competitions from each exchanges that you have. It's just a bonus if ever you win those prizes because you're about to make money as well from just trading it. So, you're right that it's no extra effort and just an incentive if ever you've won the prize of how much it is in the table.

You know there are people who trades on higher volume and they could get qualified even before that person, so doing normal trading is good because it wouldn't hold someone's on a tensed and wanting to reach the minimum requirement, and of course these things are being classified or categorized. Sometimes they segment it from 1-10 meaning only these people who qualified could share the amount allocated for the competition.

Wow you're still doing trading competitions? As long as you don't aim to win something from it, that's fine. I know we all heard about BNB and I still have bad dreams about using them all up to save cents and dollars on trading commissions lol They say there's no such thing as the best time to trade, but usually I say the best time is always a bull time. Not sure we're still in a bull tho

And at the end the point is that it's too risk trading on contests knowing how competitive the market is before getting to crown winners. I'm rather preferred to face it just my way and do my usual trading. It's really hectic engaging on competition trading whereas, there're lot of traders in the game whom you don't even know whose trading strategies is more profession than yours. So I think the best is to trade on the low just on your own terrain to be able to control your looses or probably adequately manage your risks all by yourself.

Just trade without having an axe hanging over your neck in the form of a trading competition. When you have that you are only increasing the risk of your own losses and not going to gain anything. The earning from any such trading club or similar things are only that temporary name and fame, no money is earned, mostly lost because it makes the trading system an entire gambling rush sort of thing. It breaks the basic principle of buy low and sell high. But I guess new traders who are entering to just make money quickly do not understand this reality.

I'm not participating in these trading competitions at all and what I believe is that most of these requires huge trading volumes and knowing that it's Bitget, for sure there are many traders out there that has really high trading volume, and if you want to compete against them, you need to at least have a huge capital to start with. Trading normally for me is the best approach instead of trading just because of these trading competitions because there might be a chance that you will end up overtrading just to build up that trading volume that's needed. Well, I haven't tried it yet because I know that I can't compete with such a small amount of capital. You can try and complete AS LONG AS you have the money. If you don't have then just forget about it.

I am pretty sure it's once again a shill account, shilling BGB, they have been around for a while, no idea what benefit these guys bring, but check how many newbies talked about BGB in the last 3 months and you will see that it's a real problem for the forum. In any case, if you just do spot trading as the way you normally do, then you are not going to get the best out of this. This is not going to be that complicated, because you are not going to make that much money from it, and trading will be not bring you any money. Because, real traders make a million dollars a day trading and you are not going to get any rewards since you would be small compared to them and you will end up with basically nothing compared to them.