How to Maximize Gains in StockBattle
Though it’s unrealistic to bet your mother’s mortgage on Fantasy Stocks, losses are not just plausible, they are a part of the game, especially when you are only learning how to make well-informed decisions. But how do you play the odds and ramp up gains? You are about to find this out.
Measuring Risk
Risk is the amount of money you can lose while trading Fantasy Stocks. The best way to measure a potential risk is to predetermine how much you are willing to lose. In other words, work out a stop-loss.
This risk-optimizing strategy was borrowed from day traders. As is known, a stop-loss can be executed on a brokerage platform — all a trader needs to do is set the limit to losses and cut them before they grow too large. We suggest you do the same with Fantasy trading contests. Place a ceiling on your daily fee expenses and lift it in proportion to your gains.
No Place for Chance
No doubt, it’s tempting to put drafting your portfolio in the hands of fate or pick stocks on a whim, hoping it will pan out. But in the case of Fantasy Finance, it doesn’t work this way. Even if you hit a stroke of luck once or twice, you are bound to end up in the red unless you add some rationality to the process of decision-making. Analyzing the market and delving into stock movements is the unalloyed boon that will bring you more gains.
Plan Asset Picks in Advance
As an American military officer and the 34th president of the US, Dwight D. Eisenhower said: “No battle was ever won according to plan, but no battle was ever won without one.” These words closely resonate with the StockBattle concept and imply that strategy is the key, even though it’s not a surefire way to win the battle. Сhecking the stats, scanning the market fabric, and planning your winning team in advance is a scheme that makes your chances of winning ratchet up.
Diversification is the Game
There is one common rule for both traditional trading and Fantasy Finance — never put all eggs in one basket. In the case of Fantasy, drafting one particular kind of stock (tech or retail ones for instance) for your portfolio seems unreasonable even for a 15-minute game. Unknowingly, you are setting yourself for a loss — if something sends this segment losing money (which is a cut-and-dry story on the market), your whole portfolio is doomed to failure. Lowering risks by diversifying your picks is a much better option. Akin to assembling a football team, balancing offensive players with defensive ones is always a winning strategy.
Keep a Journal of All Your Games
Keeping a journal is a great tool because it helps track your progress and helps you see what you wouldn’t normally see when keeping all game results in your mind. It’s also where you can record strategy ideas that may pop up while trading Fantasy contests.
Obviously, written journals have gone the way of Dodo — it’s more convenient to use screenshots to capture your drafts. If you manage to organize them in folders on your computer, you can easily review your gaming history and improve your strategy.
Go with Your Gut
Being able to pin down a growing stock or crypto is vital, though it’s not always easy. It happens that controversial news and stock market analysis can fail to help your portfolio thrive, so it’s important to go with your gut. Given the unpredictability of the market, sometimes it’s good to opt-out of picking a position that causes your doubts. The accurate market update plus following your own market anticipation is the winning combo while trading Fantasy contests.
Bottom Line
To successfully navigate through Fantasy battles and feel the excitement from the competition (not the qualms of guilt), you need to develop your own risk management plan. Now, knowing about these incredibly easy but perfectly effective risk-optimizing steps, it’s simpler to formulate your plan and win more in StockBattle contests.
