Are trading competitions worth it?

  • This topic has 2 replies, 1 voice, and was last updated 3 months ago by James Barra.
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  • #185392 Reply
    Sol1312

      What are your experiences with trading competitions? I’ve seen brands like IronFX run tournaments where those with the highest percentage of profit can win cash prizes and there’s as much as $500,000 for the winners.

      But do people really win money in these? What are they like compared to real trading? And do everyday traders really have a chance of winning?

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      • #185574 Reply
        Rafa

          The short answer is yes some people do make money. But you have to check the credibility of the trading platform (FxPro is big, regulated and well-known so you’re probably in good hands there).

          Also look at the tournament conditions. They often encourage excessive trading over a short period and sometimes ban certain strategies.

          Overall, you have a chance but you’ll be going up against advanced, highly skilled traders.

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        • #185576 Reply
          James Barra
          Moderator
            DayTrading.com Team

            Trading competitions can be a good opportunity to practice your skills and even network with other traders.

            However, it’s important to be aware of the risks:

            • The requirement to generate high returns in a short period can lead to high-risk trading strategies.
            • The competition environment can be stressful and lead to rash trading decisions.
            • Contest providers are sometimes based in weakly regulated trading jurisdictions so it’s key you find a trustworthy provider.
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