How do you approach a trading contest..

[jaberwock]

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, ...

Contest only leads to rash decisions and poorly entered positions. You can make good money from long term trading but if you are going for these contests, they lead to the complete reversal of the buy-low-sell-high system.

It is because exchanges love people who make rash decisions and lose money. Trading fee is also another factor that brings them money.

It is best to avoid them as much as possible rather never participate in them. Be the long term trader with goals for stable profits.

Usually these trading contests are part of their marketing tactics which attract peoples and also increase their transactions if someone wants to avoid them it's never been problem because no exchange or site can force anyone to join this without his wish.

Here I completely agree about this mostly exchanges wants peoples to join and then lose their funds in these because this will increase their profit which is always important for them and they always organize these competitions just because of this. Peoples love to have their own way of trading because mostly this give them good profit but due to these competitions they lost their momentum and things gone on wrong side for them for me having these competitions never been favourable.

[Alpen]

The market is green again, and as an OG trader I know a lot of platforms could be rolling out various competitions to build liquidity and also reward users. I actually lost a lot to memecoins recently and I'm looking to build up my liquidity via bounties, competitions etc now that the market is a little bit stable hence this thread.

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.

The problem with most trading competitions on exchanges is that only the winners actually get paid.

You need to show crazy high returns to even get close to the finals.

A lot of the time, the prize is just bonus credits you have to ‘work off’ — or they’ll only let you withdraw profits made from trading those bonus funds within a time limit.

It’s usually way easier to join promos that pay out real dollars, guaranteed. For example, Cryptomus gives you actual cash for stuff like registration, verification, and other simple tasks.

https://app.cryptomus.com/awards

You can use that as a deposit to trade — they even have their own exchange too.

[justdimin]

I actually lost a lot to memecoins recently and I'm looking to build up my liquidity via bounties, competitions etc now that the market is a little bit stable hence this thread.

Hey, I am just curious on learning your prior experiences on building your liquidity from bounties and trading competitions. I mean how successful you were on achieving your goals of getting rewards? Because, this is the very first time I come across that someone trying bounties and competitions for trading purposes. I feel like that you are wasting your time. I would rather spend my time on learning and practicing for my next round of attempts in trading.

It’s usually way easier to join promos that pay out real dollars, guaranteed. For example, Cryptomus gives you actual cash for stuff like registration, verification, and other simple tasks.

Actual dollars in what sense? Does it mean you are allowed to withdraw them? Because, some services are providing this type of rewards but you need to use them for trading and then the profits alone get eligible for withdraw and not the rewards.

[SmartGold01]

The market is green again, and as an OG trader I know a lot of platforms could be rolling out various competitions to build liquidity and also reward users. I actually lost a lot to memecoins recently and I'm looking to build up my liquidity via bounties, competitions etc now that the market is a little bit stable hence this thread.

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.

I think almost all exchanges offers a trading competition where you would have to join their competition to be able to share a specific amount of coin after competition ends, and yes I have never made out that time and chance to belong or join one because I can't afford to raise the amount required to join to trade with them. Most of the exchange offer trading competition from $500-$1000 above against the required newly listed coin and token when listed on their exchange, most of this competitions are being hosted by the token owners just to attract more liquidity to their coin, most times people lose or those who ends up holding those coin in their accounts usually ends up becoming victim of those coin due to lack of proper research because most of the rewards are being sent in the coin you traded on.

[Peanutswar]

I tried to be part of the exchange contest before and its my first time i thought its all about the wins and strategy but of course it tooks so many time and money to be part of the leaderboard and im just normal trader and after that i didnt join anymore because it tooks tok much pressure just to be part of it instead you are just enjoying your trades.

[Mahanton]

The market is green again, and as an OG trader I know a lot of platforms could be rolling out various competitions to build liquidity and also reward users. I actually lost a lot to memecoins recently and I'm looking to build up my liquidity via bounties, competitions etc now that the market is a little bit stable hence this thread.

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.

The problem with most trading competitions on exchanges is that only the winners actually get paid.

You need to show crazy high returns to even get close to the finals.

A lot of the time, the prize is just bonus credits you have to ‘work off’ — or they’ll only let you withdraw profits made from trading those bonus funds within a time limit.

It’s usually way easier to join promos that pay out real dollars, guaranteed. For example, Cryptomus gives you actual cash for stuff like registration, verification, and other simple tasks.

https://app.cryptomus.com/awards

You can use that as a deposit to trade — they even have their own exchange too.

Okay lets say that they are that paying with that registration,verification and with some simple tasks. I have checked out on the link given then on which i have seen those rewards given.

0.05 CRMS
Connecting Cryptomus account Telegram bot.
Connect the Cryptomus account Telegram bot to your account to receive notifications on Personal wallet transactions.

2.5 CRMS
Download the Cryptomus mobile app in the App Store and leave a review
We've released a mobile application for iOS! Leave a review under the application, then enter your App Store nickname in the form below and we'll check it out.


2.5 CRMS
Staking 10,000 TRX.
Start staking 10,000 TRX and wait for the staking to be completed.

Source: https://app.cryptomus.com/awards

Are those rewards worth? No, just take look at with that 2.5 CRMS on staking 10,000 TRX which is having the cost of $2840 as of this moment and you do able to get
2.5 CRMS on which it is that currently priced $0.98 as of this writing on which it isnt worth at all.  

[Alone055]

I tried to be part of the exchange contest before and its my first time i thought its all about the wins and strategy but of course it tooks so many time and money to be part of the leaderboard and im just normal trader and after that i didnt join anymore because it tooks tok much pressure just to be part of it instead you are just enjoying your trades.

Competitions and contests held either by exchanges or casinos are only about how much money you have that you can utilise to have a spot at the top of the leaderboard. If you are not a high roller or a whale, forget about it. These competitions are not for regular users like me and you, because we can't reach hundreds of thousands of dollars in trades within days or even a month, or we can't wager more than a few hundred thousand dollars in a casino unless we have that much money in our bank account or bitcoin wallet.

I also used to think that maybe if I explore some of these events, and try, I might make it and win a reward, but over time, I realized that it's not possible, and that only those with large funds can actually win the rewards, and others who try to compete are only going to provide more revenue to the platform and nothing else.

For regular and normal users, it's better if they focus on what they are originally doing instead of going towards these side quests.

[Alpen]

Actual dollars in what sense? Does it mean you are allowed to withdraw them? Because, some services are providing this type of rewards but you need to use them for trading and then the profits alone get eligible for withdraw and not the rewards.

I got rewards in Cryptomus stablecoins for everything I did — signing up, KYC, installing their app, you name it. You can easily swap them on a DEX for regular USDT, then it’s yours to spend however you like — cash out to USD, spend it, whatever.
They also have a P2P exchange where people flip these stablecoins and you can send the money straight to your card. But honestly, I’m not a fan — the rates are usually lower than they should be. I’d rather swap them on Uniswap and keep the full value.

Okay lets say that they are that paying with that registration,verification and with some simple tasks. I have checked out on the link given then on which i have seen those rewards given.

0.05 CRMS
Connecting Cryptomus account Telegram bot.
Connect the Cryptomus account Telegram bot to your account to receive notifications on Personal wallet transactions.

2.5 CRMS
Download the Cryptomus mobile app in the App Store and leave a review
We've released a mobile application for iOS! Leave a review under the application, then enter your App Store nickname in the form below and we'll check it out.
 wait for the staking to be completed.

Source: https://app.cryptomus.com/awards

Are those rewards worth? No, just take look at with that 2.5 CRMS on staking 10,000 TRX which is having the cost of $2840 as of this moment and you do able to get
2.5 CRMS on which it is that currently priced $0.98 as of this writing on which it isnt worth at all. 

If you do all the tasks, you’ll get around $30 in actual cash. That’s more than enough to start a bankroll boost strategy.
Want to get more out of Cryptomus? For some reason they don’t promote it much, but hit up their Telegram forum — they often share extra fat bonus deals there.
The main thing is, they pay real money right away — not some fake prize you need to win and grind out first

[JeffBrad12]

Usually these trading contests are part of their marketing tactics which attract peoples and also increase their transactions if someone wants to avoid them it's never been problem because no exchange or site can force anyone to join this without his wish.

Here I completely agree about this mostly exchanges wants peoples to join and then lose their funds in these because this will increase their profit which is always important for them and they always organize these competitions just because of this. Peoples love to have their own way of trading because mostly this give them good profit but due to these competitions they lost their momentum and things gone on wrong side for them for me having these competitions never been favourable.

I doubt exchange making profit from people's losses beside their fixed fee on each orders.
Ultimately the contest is to incentivize high frequency trading and to inflate volume as well. If the trader is too hasty on their trade to chase the volume because it's a race in a nutshell, then it's the trader's fault.

This is also why I never ever joined any trading contest, you either just gonna be watching people winning the contest with massive capital to begin with from the sideline or you're just gonna lose everything along the way.
Incentivizing to trade new pair and give reward for it is far far better than these contests.

[Strongkored]

The market is green again, and as an OG trader I know a lot of platforms could be rolling out various competitions to build liquidity and also reward users. I actually lost a lot to memecoins recently and I'm looking to build up my liquidity via bounties, competitions etc now that the market is a little bit stable hence this thread.

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.

You may lose more money if you join a trading competition because only traders with high trading activity will be able to enter the leaderboard, the more trading volume you have, the higher your position will be, while you want to regain liquidity after losing a lot in memecoin, joining a trading competition will not help your target at all. It is better to trade normally or join an airdrop even though the airdrop is no longer promising, but the risk of losing money is less.

[TheUltraElite]

You may lose more money if you join a trading competition because only traders with high trading activity will be able to enter the leaderboard, the more trading volume you have, the higher your position will be, while you want to regain liquidity after losing a lot in memecoin, joining a trading competition will not help your target at all. It is better to trade normally or join an airdrop even though the airdrop is no longer promising, but the risk of losing money is less.

It makes it look like that one should trade just for the sake of trading and not to strategically buy and sell later.

The exchange makes money off every trade fee. So for the exchange it is happy hours. I would never advice anyone to participate in such contests where you can easily make wrong rash decisions and lose money just to be on the leader-board or be given a useless title.

Casinos have these leaderboards only to stroke the ego of the highrollers, so they lose money and exchanges are doing the same, because spot trading is less profitable for the exchange.

[Hannah$]

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.

Trading competitions are always ongoing because as one ended another will start. But I only prefer to advice traders that they can register for such competitions because they are trading at that time and not registered because they want to earn from it for it not to change your trading strategies. Trading is very risky and it can take money from someone and the person may not qualify or win any prize at the end.

I think your comment is correct, you are right that although trading competitions are interesting, every trader should have a good knowledge of dating and strategy before participating in trading. If you change your strategy in the hope of winning, you will face risks, I think you should participate in competitions if you are trading regularly at that time and have confidence in your own strategy. The most important thing is that trading competitions can be a way to build confidence, but it is not right to see it as a guarantee of earning income.