Engaging in online business has become a common job for many people nowadays because this job is considered simple and practical. There are no special criteria to be able to do it, it all depends on the spirit and tenacity of each person. Forex trading is one of the many online businesses that are the prima donna in cyberspace. In Indonesia, forex trading is quite popular among the people because in addition to getting profit from trading results, once in a while the broker usually holds a competition between traders that offers attractive prizes for anyone who wins the contest.

The prizes are no joke, they can reach hundreds or even tens of thousands of US Dollars. And this competition is a golden opportunity for trader to hone and test their abilities, pitting their abilities and skills in the forex market. The question is, what are the tips for winning the Indonesian forex trading competition?

Tips for Winning Forex Trading Competitions

Anyone would be interested in a prize, surely many people are competing to win it. So is the case with the Indonesian forex trading competition. The large prize promised makes traders interested in winning it. But how? Are there any special tips and tricks to win the forex competition in Indonesia? Here are some tips that you can do.

Pay Close Attention to Competition Terms

Every competition must have its own rules, first learn the terms and conditions, what is allowed or prohibited, what are the requirements to become a participant, how the prize distribution system works, and others so as not to be disqualified for being considered a violation. If necessary, also examine the implementing policy whether the prize can be withdrawn and what the requirements are.

Focus on the Pair to be Traded

If trading is done manually without a robot, focus on choosing currency pairs that have fairly high daily volatility and whose character you are familiar with because this will help you monitor trading positions at all times.

Set Strategy

No need to be too hasty and end up acting rashly. In this trading competition you should be semi-aggressive, no need to aim for big profits in an instant, but try to take advantage of every slow price movement up and down so you can be consistent in this competition.

Follow the Trend

As a beginner to be safe you do not need to do the trick 'buy low, sell high' because it is feared that this will actually harm beginner traders but do entry only if the price reversal is confirmed and do 'buy when the price starts to rise from the lowest level or 'sell' when the price has just fallen from the highest position. This method is commonly called scalping.

Treat It Like Real Trading

Make your desire to be able to get a big prize as a motivation to win the trading competition. You have to be serious in trading, it will be very useful for you later when you trade daily and maintain consistency in trading. Aren't the prizes promised in this contest real? So act to get the prize according to your best efforts.

Hopefully the explanation above can help you when participating in the Indonesian forex trading competition. And for those of you who are interested in winning the trading competition, don't forget to follow the instructions and tips above. One of the competitions currently taking place in Indonesia is the GICTrade 2020 Live Competition, which offers a very fantastic total prize among the ongoing competitions.

Visit GIC Indonesia to get information about the world of trading. You can also join us in the Telegram Community GIC Trade and Telegram Channel GIC Trade. Don't forget to check the Youtube account GIC Indonesia which is full of lots of information, and follow our Instagram account to get information about various interesting webinars that you can follow.