It would be stating the obvious to say that anyone looking to start a live trading account should begin with the basic steps: what do you want to trade, how much money do you want to set aside, how much time can you devote, and deciding what type of orders you’ll use to enter and exit trades. But above all else, knowledge is power. To be successful trading in a live environment requires a ton of practice, using a simulator trading platform that mirrors a live environment allows the trader both the ability to learn and familiarize themselves with all the different tools and functions of the software they are using, as well as developing and modifying their trading strategies to see what works and what doesn’t.
Yet there’s another highly advantageous and effective way to practice, learn, and improve your trading skills: trading competitions. Through a unique set of trading competitions which we at DasTrader.com have co-sponsored with Nasdaq these competitions allow traders to compete with other traders to see who ranks in the top and to win valuable prizes, experiences, and gifts. Beyond competing to be the best, these competitions allow traders access to the use of our sophisticated trading software and Nasdaq Total View market data. It also gives traders the ability to see what is working or not working for other traders in the competition, what they are trading, and where they are profitable or experiencing losses. Last year’s competitions were an astounding success and received much positive feedback from participating competitors who shared with us in our weekly recaps during the course of the competition just how much they learned, what they would have done differently, and what they learned from other traders.
While these competitions serve as a great opportunity for those who are new to trading or are still learning, it is also an excellent opportunity for professional traders (i.e. proprietary traders, individual day traders, etc.), who mind you do not have much time to put aside from live trading, to have the opportunity outside of their own live accounts to try out different strategies without risking financial losses. It is with this in mind that we have decided to run four competitions this year that will cater to specific types of traders (those with little to no experience, intermediate, and professional traders). The rules and guidelines for each competition and determination of traders’ eligibility based on trading experience will be strictly upheld as we strive to provide a fair and level playing field for each competition. The competitions will run as follows:
Official dates of registration have been announced above for the spring competition. Following competition dates will be announced at a future date, so please check in to our social media handles @DasTrader on Twitter, Facebook, Instagram, and LinkedIn for further updates. You can also visit the competition website 1Besttrader.com for rules and regulations and check out last year’s winners as well as our many sponsors involved in these exciting competitions.