Forex Live Trading Contests 2022 - TopAsiaFX

Do you want to participate in a Forex Live Contest but don’t have enough info? It is NOT for EVERYONE as it includes real money. 

Do you agree? So, we're going to give you a detailed concept of the Forex live competitions 2022 here. 

Well! Let’s start with its scheme.

We advise before you are going to JOIN a Forex live trading contest in 2022, you should FIRST join the Forex Demo Contest to know about how the contest works. When you get enough KNOWLEDGE about demo contests, then you can go to the live competition. It is a GREAT way to win fabulous and cool prizes. 

The contests take place on a daily, weekly, or monthly basis. ALWAYS keep in mind that you risk your investment as you trade with REAL MONEY in the contest. We will recommend knowing about the Forex No Deposit Bonus if you are a beginner to REAL trading. 

Before moving towards Forex real trading competition, first, we will talk about the Forex contest nature.

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What Exactly Is Forex Contest?

Some people consider the Forex contest to be a kind of a BONUS, and they are not totally WRONG. On the other hand, multiple brokers held the competitions they arrange in the section of promotion, next to rewards like rebate pips, and no deposits. It does not matter what is present on the page; all that matters is how it works.

Do you know how it is the difference between a standard bonus? The primary thing is that s bonus is presented to a trader, as if it is a type of a return gift for you being a customer of a broker, either a new or a regular one.

But live Forex contest is not considered a gift – it is an event where new and regular customers are preferred to take part in. The competition occurs on the website, and it is the comparison of multiple skills and abilities, the win and the trades, of every individual. 

In the end, the one having the best results takes everything – the prizes mentioned as a reward for the contest. You may know that there are two types of Forex contests: Live Forex Contest, which we are talking over at the moment, and Demo Forex Contest. 

What is a Forex live contest?

Forex live trading contest is a contest held by Forex brokers where the real traders can take part. On this stage, think of it as a Game. But the real one! It's not for newbie, it's only for the regular traders.

To grasp the concept, we require comparing it to the other kind of Forex contest: the demo contest. The demo Forex contest involves the traders who are yet in the safe stage - beta stage of trading. It means they can use a DEMO account, where only virtual money is included – no REAL MONEY.

The demo account allows the trader to practice the skills, as they are not so assertive about themselves, and they do not need to risk investments. It means that their taking part in a contest is less risky and simple.

On the contrary, if you participate in a live competition, it means you take more risk as you risk your REAL money. 

Here at the live trading competition, you are trading with REAL money, and you need to be a bit more focused and concentrated because, in spite of executing regular financial trading activities, you are also involved in a competitive event, there you need to show your best hand.

If you do, then you can easily WIN the live contest, and in addition to your trading winnings, you can get the reward declared for the event by the broker. 

How really a Forex live contest works?

We hope you have learned something about the live Forex contest. Now, we are moving towards how it works.

Multiple brokers offer Forex live trading contest in 2021; every person is providing different criteria. Each broker set their own prizes and rules for trading.

Now, you will check in almost all the contests that you need to earn a lot of profit and points to become a winner of the competition. You need to read the terms of the contest carefully before taking part in the live trading competition.

And of course, don't hurry to grab a random broker instead use Authorized Foreign Exchange Brokers for participating in a real competition where your effort won't vain.

Why is it important to participate in live Forex contests?

Here are all the advantages of participating in a live Forex contest that many motivate you to look for such with the current broker:

  • You can win more than you will from daily trades, and there are huge prizes – it includes real gifts like money, car, mobile devices, etc.

  • You can check what your place is in the financial trading experience. The best assessment of your existing skills is competing with others in your daily trading.

  • You can diversify your activities; let’s check it – it can be tiring, no matter how good it is to make trades to win!

  • You can ENJOY and WIN an award at the same in your standard experience, so you do not lose anything, but winning an opportunity to have a significant final result. 

Winning Forex trading contest Is A Luck?

Winning a live contest requires luck, experience, and skills. If all the things come true at the same time, you will be selected as a winner. You need to choose the right one to win a competition. 

Therefore...

First of all, all you need to do it is looking at your trading SKILLS. If you consider you have the talent to fight with other traders, you can move else. You can get some experience from the Forex demo contest. After that, check out a reliable broker who offers the best prices, also with some conditions.

When you choose a contest, READ the terms and conditions carefully. If you consider it is easy for you and then you can start comparing with other traders in the trading skills if you can or cannot. 

How to be a winner of the Forex Live Trading competition?

For becoming a winner, you must have a strong strategy; a working policy will give you ultimate confidence. The past experience will assist you in making a great plan. You require maintaining the time frame. You can follow the procedure for winning a contest:

  • You should try to spend a little more money.
  • Try to keep an eye on the news that alters the Forex market.
  • If you see the brief success of other traders, do not get in touch with them.
  • Try to get the highest profit to win.

That's it! Now, we'll cover the advantage of the live trading contest.

The Advantage of Forex Live Trading Contests

Everyone wants to know about the advantages before involving in any contest. In addition to the standard daily trades, you can also get a CHANCE to get prizes. It will give you more INSPIRATION to trade wisely.

You can also improve your performance by comparing your trading experience with the other opponents on the stage. It can assist you in stimulating your investment growth and increasing your personal confidence. It is the best chance for you to consider yourself as a trader. 

Things You Need To Consider Before Participating In Forex Live Contests

It is essential that you should READ all the TERMS and CONDITIONS carefully before you are going to SIGN UP for the contest. Make sure you can follow all the terms and conditions.

Also, check if there are any DEPOSITS that you need to make before taking part in the contest. Ensure that you have enough funds. REMEMBER! If a broker feels that the documents of the information you provided are fake, you can be ineligible for further procedures. 

What Can Help You Win The Contest? 

You should know about the involved RISKS as the Forex live contest trade with real money. The key objective here is not to win the contest but to trade skillfully and responsibly. Three features are necessary to use in live account trading. It is renowned as 3M; it is Money, Method, and Mental.

Let us discuss one by one in detail:

  • Money Management - The conservation of your capital is vital in live trading. It is not a GOOD idea to gamble away your money. Usually, we use the ratio of risk, and the reward is 1:2. It states that in each trade, you have the chance to win 200 dollars or to lose 200 dollars.

    With this easy idea of money management, we can enhance the winning odds. It is believed that we can grow in Forex trading with the right money management. By checking the habit of how you can risk your investment, you are willing for the live contest. 

  • Mental and Emotions - The essential difference between professional and beginner traders is the capability to manage their emotions. There are TWO vital psychological factors when it comes to living to trade: FEAR and GREED.

    A trader can get to refuse or greedy to close a winning trade. On the other hand, the trader has a fear that his business may be successful or not. The emotional judgments can result in trading disasters. 

    Another crucial thing is the RIGHT ATTITUDE. You do not expect to win always; all you need is to get accustomed to losing and be calm. You may have heard, “WINNING and LOSING is a part of the game.” You will have to see multiple challenges in order to be a successful trader in the market.

    Every SUCCESS has a story; it is not easy to get successful. But, if you are patient and disciplined, then you can consider trading and make more progress.

  • Method and Trading System -  Forex trading is full of multiple kinds of Forex methods and systems with the popularity of the internet. All these can be very perplexing and overwhelming. You should select a system that’s easy to comprehend.

    A GREAT method is one that is clean and simple. Stick to it when you have learned it. A SERIOUS mistake made by all beginners is that they swift from one system to the other, like chasing Holy Grail. Of course! There is no such thing. There should not be a DIFFICULT strategy in your mind for trading. Whatever you choose, be clear and PRECISE.

You can also explain your idea to a child who has an age of approximately 12 or more. The trading of cost and actions suits matches here well. This approach is regarded as the simplest trading plan. It can easily be described.

If you demonstrate the simple price dynamics in the market, there is no need to go in-depth with the complex terms such as trading software, the complex mathematics of any indicator. 

Trading Plan and Trading Journal - Live Contest

You require making a trading plan from the trading plan that is being grasped by you. Having your feelings and an overall trading strategy can assist you more than you ever know. It makes you ready to trade logically instead of being emotional. 

Always confirm that you keep a trading journal for keeping a record of your progress. You must have a history of your work over some time. Keeping a track record will assist you in involving positive habits of trading that can be beneficial later.

Check out to maintain accurate records. If anyone wished to fund the trading, it would be helpful for you to demonstrate to them your well-maintained and proper documents. 

Final Verdict

Taking part in a Forex Live Contest is similar to socializing with other individuals like yourself. It is obviously a GOOD chance to see yourself as a reader and to tell your broker that you are among those big players who want a particular attitude and attention.

All things considered, winning a live Forex contest is best for your self-reliance, and maybe it will motivate you to move further with your growth and become bigger in the financial trading field. It is COMPULSORY for you that you should try to live trading competition. 

TopAsiaFX offers you an updated and daily list of similar contests. Select your contest sensibly. You can also add comments if you check any non-authentic listed competitions. We wish you SUCCESS in 2020's Forex live trading contest