Alexander Pavlov, CEO of Equite.io: about the Khan Tournament. Interim results, insights, wishes to the participants
Ten days ago, we launched our first contest: Khan Trading Tournament. In another 10 days, on December 25, we will determine the winners. And now, at the "equator", it is time to sum up the interim results: to talk about our goals and the experience that we all have already received.
What does the tournament give to traders?
We had the idea of this competition from the very creation of Equite.io, and we have seen many reasons for this.
Firstly, the competition allows traders to prove themselves not only in the normal mode but also in more limited, hard conditions.
Secondly, tournaments make you feel the thrill. Honestly, trading is routine and requires the ability to sit still and focus. Also, it’s quite stressful. Gamification helps to get new inspiration; relieve stress and switch.
Thirdly, traders are a close-knit community. Many of those who are now participating in the Khan Tournament know each other and follow the success of their acquaintances. So the tournament is also about socialization.
A tournament is an additional way to prove yourself: a trader can boast of results, even if his place is not a prize. And those who take first places will receive a medal: a sign on the page. If a participant has many medals, then this is an additional factor for investors, other participants, and subscribers of his channels or social networks.
What does the tournament give to investors?
The trading market is really complex, and one glance at a trader is not enough. You have to explore them further and look from different angles, how they operate and trade. One way to evaluate a trader is to look at his trading history. Another way is to see how he participates in tournaments. Nothing gives a 100% guarantee, but if a trader consistently trades on his accounts with a small drawdown and participates in tournaments at the same time, this is an additional argument about his success.
Valuable experience and new solutions
Of course, traders' tournaments were not invented by us. But Equite.io was the first small service to hold such a competition. And we have developed the regulations by ourselves.
Several years ago I worked in the computer games industry and organized large e-sports events, online and offline. For example, as a member of the team, I held the first offline League of Legends tournament in St. Petersburg. And now we are using my experience related to gamification.
Another important skill was the experience of interacting with partners and attracting sponsors. This is a difficult task. And I think we did a great job with it: attracted top sponsors, TradingView, Binance and TigerTrade, despite the fact that this is our first tournament.
We are also proud of our co-organizer Ed Khan. This is a trader who runs a popular Telegram channel. He publishes educational materials that are important for improving the skill of traders, and does not post advertisements and paid posts.
Insights
Now, at the "equator", I want to share several insights that are important for the organizers and (hopefully) for the participants and observers.
- We choose the right conditions. I can see this from the results of the participants. Let me remind you that, according to the rules, we have prohibited all adding and withdrawals for the period of the tournament; if a participant loses money, then he cannot add funds to increase his chances. And yesterday I noticed that some traders are trying to trade with full funds: they suddenly come to the first place. But after a while, they go out. And those who trade calmly and confidently using risk management are steadily going up. The actual top 10 members change little day by day.
- The first few pages of our tournament list are traders who have profit. And "tops" are a big profit. But even participants in the 10-20th place confidently increase the amount of funds.
By the way, that is why we have established additional nominations. Prizes will go not only to the three winners but also to those who will actively trade and who will have the most transactions. And there is one prize for the casual participant: nice souvenirs from Binance.
I wish the participants successful deals; better results; stay healthy and be PRO! Follow our blog and social networks: the results will be announced in exactly 10 days.