RE: Application Steemit Challenge Season 26 | CryptoLearn –Trade, Learn and Progress
Not everyone can deposit 1000 USD on an exchange to trade — in fact, very few people actually have that amount sitting on an exchange. Most likely, if they do, they already have at least some trading experience.
When trading with virtual USD, the psychology is different: there's no fear of loss, so traders tend to take more risks and often reach profitability faster.
Those who choose to get involved should keep a record of and analyze their trades.
Yes, this can be done on a real exchange — some even offer demo funds for training purposes.
But it can also be done using cryptocurrency portfolio tracking services,
such as https://www.cryptocompare.com/portfolio/,
where you can enter the purchase date, amount, and price of each trade.
Of course, there are many such tools — even something as simple as Google Sheets will work.
Overall, it's a great idea — I'll definitely join in when I get the chance.
Thank you very much @sergeyk for your very insightful comment!
You make some key points about the psychology of fictional vs. real trading. Indeed, the absence of financial risk in papr trading can lead to more daring, sometimes less realistic, decision-making. This is precisely why one of the key objectives of this challenge is personal analysis and critical reflection, even on fictitious exchanges. This helps participants better understand their reactions and identify mistakes without financial consequences.
Thanks also for the link to CryptoCompare – a great suggestion for those looking for a simple alternative to exchange platforms. Participants will be encouraged to explore different tools, whether virtual portfolios, simulators, or even spreadsheets like Google Sheets, to effectively track their trades.
Your feedback further motivates us to enrich the challenge and make it accessible to as many people as possible, regardless of their means or experience. We will be delighted to have you among the participants as soon as you are available!
See you soon on the challenge
— @kouba01
Hello @sergeyk! 👋
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