If you are a regular trader, you must participate in a demo trading contest. Both are the same thing. The difference is live contest involves risks, and a demo contest is a risk-free opportunity.
Forex live contest is designed for real account traders – mostly who are experienced and skilled traders. If you are not an experienced trader, better pass the demo trading contest. It will give you a big lesson and an excellent chance to earn prizes.
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Do you know what you have learned? What are your trading skill and level? Are you prepared to play with a VIP account? Trading alone and participating in a contest is not the same thing. Here you have to compete with professional and experienced traders.
So, it’s a risky process and an excellent opportunity to show yourself that you are the best trader. Who doesn’t want to get awards? Forex broker provides cash prizes and awards for success. All awards and cash prizes are withdrawal.
Most important thing to consider before participating live contest
Suppose you are already registered with the offered broker. You may know about the broker. So, you don’t need to look at the broker. If you have past experience with the broker, it will be good to play well. So, the second thing is doing you played any competition with the broker? If not, then check the past records of their contest and get some idea before starting.
If you are not registered with the broker, check the broker profile first, such as past records, trading service, client service feedback, and regulation.
Both of these are the primary things for starting. The next important thing is checking the terms and conditions of the live contest you are going to participate in.
If the terms and conditions are not suitable for you, then don’t enter it could be a waste of your important time.
What are the advantages of live forex contests?
Hey! Are you still looking for advantages! HaHa- Kidding. It’s simple. Anyway, there are many advantages to participate in a live contest. You can join for many reasons. Who wants to miss the chance of winning an iPhone, Laptop, and Car! There is good potential to earn more profits and winning prizes.
Seasonal traders love the trading contest is much more than regular traders. Here are some beneficial things you need to know:
This competition holds under the real market trading competition where all participants are from live trading.
So, it is a good chance to competing against skilled traders and prove a true skill and mastery.
The thrill and competitive spirit are different than regular trading that motivates, increases self-confidence, and increases trading capabilities at a higher level.
Everybody wants to show their skill in front of others. It is the best way to demonstrate yourself.
It helps to prove trading superiority besides making a profit and winning rewards.
You can socialize yourself easily. When you participate in a live trading contest, you mean you are a good trader. The winning of a contest automatically evaluates the winner. So, you can show your broker that you amongst the best players who deserve some special opportunity.
What can help you to be a winner?
As already mentioned above, you need to check and understand all terms and conditions carefully. Winning a completion is not rocket science. You need a good trading strategy, control of yourself, a good strategy to manage risk ratio, and a money management strategy.
Another thing you have to focus on “slow and steady strategy.” Faster thing is not good for everywhere. If you start slowly, you will see the competitor is going down from time to time because they want to win the race as soon as possible. Here the greedy minds and anger thinking are your top enemy. Keep aware yourself from these two things; your winning chance will higher.