What is a Forex Contest?
Forex Contest is a trading competition for forex traders to win prizes and moeny. Traders have to chance to win prizes, virtual and real money even trip! Forex traders participate in a contest to demonstrate their trading skills, strategies, experience and grow their confidence.
What is Forex Demo Trading Contest?
Forex Demo Contest is a challenge to compare yourself with professional traders. It's a way to earn money and prize without risk and a way to analyze traders ability to entire real trading. Every demo trader can take part in type trading competition, but a good luck, perseverance, and experience can makes a winner. Be sure that it is opposite from forex live trading contest.
Read our short guide to pick the right one contest to win if you are interested in!
How to Pick the Right Demo Contest in 2020?
Forex brokers are offering sevaral trading compettion, Before you start, check the trading instrument that's able for you or not. Every broker has several doubtful terms and conditions of demo contests. Take part in a contest, not a big deal and no restriction. But, be sure to taking part, look at the demands you can carry out. In most cases, the beginners can't make it even, around half of the participants will go out in starting a few hours!
So, this offer is a superb way to marketing for brokers. This is the cause, read the conditions carefully; otherwise, your time will just be spent!
Yet, the broker will offer a big amount such as $15K for first place with a trip to the romantic islands! This time, do not forget to check after greed, the broker reputation, trading platform, and leverage!
How can you win forex trading competiton in 2020?
Step 1 - Take it easy
Hurray! I am going to the winner. No! It's difficult! Don't be a hurry, rather than winning, focus on the mind in trading. As now you know, around 40-60% of participants get out of the beginning. This happens because they want to get the first place before starts!
So move on your road be a turtle, then you have to win a chance of at least 50%? Remember, up to your speed little over time, systematically, your chance of winning will continue to grow.
Step 2 - Keep your mind tied
It is sure that your emotions want to play a game with your mind. But, do not be an idiot, cool, control your emotions and stay on your road.
No mistake, do not change your strategy. It could be the reason for your destruction, so stay calm and go on with your predefined strategy.
Maybe, sometimes your technique will not work! Do not frustrated, ask yourself what you are doing, what's wrong here. Now, think about your strategy, it's high time to change your strategy. But, be careful, a strategy is the main strength of win.
Step 3- Take it seriously
Bonus means amazing! No! Why did you need to take seriously? Let me explain: You may ignore, cause it's not your own money. You may think you have no headache to lose it. Ohh No! It's just like a stupid. This misconception never lets you a winner.
Besides, having such a heedless frame of mind will never set you up for an interest in your live trading. So, think you are losing your own money and playing real contest. Furthermore, take seriously, at least, you are preparing for live trading!
Once more, though, the demo contest the biggest winner is the broker, but, it mainly benefits for a newbie to preparing own self for live trading.
Follow a Little Technic to Win any Trading Competition
Win a demo contest is difficult, once the highest percentage gain is figured will choose the winners so, it's very hard.
So, there has no magic to win. But if you understood something, then you are doing well, just continue to read it. Perhaps you are very near to getting surprised:
First, hold and see, how many participants are there? Wait for starting a few hours—recognize minor upward and descending patterns. Also, try to gain some 10-20 pips. This is without a doubt a prevalent procedure.
Summary: Look at in 1 Minute
Day to day, forex brokers are organizing lots of contests. Concentrate on learning not to win. Don't think about the benefits, money, and prize. Just, consider building up a triumphant strategy.
We recommend taking advantage of these trading competiton. Winning a contest needs a distinctive technique and strategy. And feel after participating in a contest, you are playing real competition. After winning, you should start your real trading with amazing deposit free forex welcome bonus.
In this guide, We had not to show you an explicit technique or strategy, just try to instruct you to open your brain and powers of perception. Just, build up your thinking and a winning strategy with this guide.
So, try continuously and check what's working and what isn't. You will, in the long run, begin to build up your very own strategy and style from being presented to various strategies.
That's it! Don't forget to share your experience with us!