Trading Tournaments

Almost free way to feel the real trading and win real money.
In pursuit for customer retention brokers are offering a variety of trading mechanics witch you should use to your advantage.
Tournaments are limited-time events where traders compete with each other for the prize money. For the duration of a tournament participants trade with a special tournament account (highlighted with purple in the account menu). All participants have a fixed amount of money on their tournaments account at the start of the tournament. When the time is up, the prize pool is distributed among people with the highest tournament account balance. The ability to compete for the prize money and win is the main reason people participate in tournaments. Of course, you can accomplish much more than that in the process: hone your trading skills and meet fellow traders, share winning strategies and learning something new.
Trading tournaments in their core are very similar to those you can see in poker.
Usually tournaments fall into several categories based on their conditions.
Local and global tournaments
First, there are local and global tournaments, the main difference being the geographic distribution of their participants. Only people from certain regions can join local tournaments. The latter are usually timed to coincide with major events (like an Independence Day of a particular country or a national holiday). Global tournaments, in turn, are the ones which people regardless of their location can join.

Tournaments can also be divided into free and paid ones. All people can join a free tournament with no entry fee and compete for the prize. The only time you might want to pay money is when you deplete your tournament account but want to continue the competition. This process is called rebuy and it is not mandatory. But more on that later.

Why might anyone want to join a paid tournament if there are free tournaments available? Tournaments with an entry-fee can boast bigger prize pools. And some people are eager to pay a small extra for a chance to win big. Free or paid — the choice is yours, as both types of tournaments offer outstanding opportunities.

Tournaments also vary in their length and can take from one day to one month.

How to win tournaments? Or rather who are the people who usually win tournaments and what strategies they use in the process? Every trader has a special strategy of his own. However, there are certain rules that can increase your chances of receiving the prize. As all tournaments are time-constricted, the competition always turns into a race against time and other traders. Participants want to turn as much profit as possible in a given period of time. For this exact purpose, traders who usually win in tournaments ignore standard risk management procedures and allocate the entirety of their tournament balance to a single deal and do so several times in a row. In case of a winning streak, they manage to increase their balance manifold. Of course, this strategy bears a significant amount of risk. However, when time is limited and other traders strive to outsmart you, this is the only strategy that provides a competitive edge. Most other strategies simply cannot keep up with it. It means that from time to time you will run out of money on your tournament account and will have to rebuy — pay to get an opportunity to reenter the same tournament.

Free and paid tournaments
Tournaments can also be divided into free and paid ones. All people can join a free tournament with no entry fee and compete for the prize. The only time you might want to pay money is when you deplete your tournament account but want to continue the competition. This process is called rebuy and it is not mandatory. But more on that later.

Why might anyone want to join a paid tournament if there are free tournaments available? Tournaments with an entry-fee can boast bigger prize pools. And some people are eager to pay a small extra for a chance to win big. Free or paid — the choice is yours, as both types of tournaments offer outstanding opportunities.

Tournaments also vary in their length and can take from one day to one month.
How to win tournaments?
Or rather who are the people who usually win tournaments and what strategies they use in the process? Every trader has a special strategy of his own. However, there are certain rules that can increase your chances of receiving the prize. As all tournaments are time-constricted, the competition always turns into a race against time and other traders. Participants want to turn as much profit as possible in a given period of time. For this exact purpose, traders who usually win in tournaments ignore standard risk management procedures and allocate the entirety of their tournament balance to a single deal and do so several times in a row. In case of a winning streak, they manage to increase their balance manifold. Of course, this strategy bears a significant amount of risk. However, when time is limited and other traders strive to outsmart you, this is the only strategy that provides a competitive edge. Most other strategies simply cannot keep up with it. It means that from time to time you will run out of money on your tournament account and will have to rebuy — pay to get an opportunity to reenter the same tournament.
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