Become a Winner at WSDT

World Series of Day Trading (WSDT) is a unique opportunity to demonstrate personal skills, knowledge, and winning strategy in day trading challenge. Any trader with minimum experience can take part in this competition and get a real prize while using a demo account.

Each participant must be ready to compete with more experienced traders. For that, you need to improve your methods and strategies to win WSDT. Selecting the right day trading strategy for WSDT is vital if you are looking to win.

The team leader will guide and mentor every member throughout the competition, so it is also highly recommended to follow the leader’s social media where he will share his experience with you. In this way, you will be able to learn the best practices and strategies of your mentor.

A consistent, proven, and practical strategy should be based on in-depth technical analysis, indicators, charts, and patterns so that you can predict future price movements.

Here is one of the best day trading strategies that might help you to win the WSDT competition:

Breakout Day Trading Strategy for WSDT

The breakout strategy is suitable when the stock price clears a specified level, and you consider an increased volume of these stocks. 

How do you win the WSDT using this strategy? 

It is possible to enter into a long position after the stock breaks its resistance point or enter into a short position as soon as the stock breaks below the support level. When stock becomes traded beyond the specified price limits, volatility usually increases, and the stock price in most cases moves in the breakout direction.

Along with that, it is crucial to consider both support and resistance levels. When the price hits these points, it is a signal for further actions.

If the price is close or above the resistance level, it requires a bearish position. If the price is near or below the support level, then the bullish position comes into play. 

Use the stock performance to set a reasonable price target. Chart patterns can help you make it more accurately. Once the stock price reaches the price target, exit the trade and enjoy your earnings.

Momentum Day Trading Strategy for WSDT

Using a momentum strategy, a trader focuses on stocks with high volumes that move mainly in one direction. Momentum traders hold positions starting from a few minutes to a couple of hours, depending on the movement speed and the possible change of direction. 

How to win WSDT using this? The stock market features significant movements in price, so a trader has to detect the right stocks, hold them until the signs of reversal appear, and then sell them out. 

This strategy is effective and easy enough when used in the right way. However, traders are very dependent on upcoming news and announcements, and they have to act fast according to them.

Reversal Day Trading Strategy for WSDT

Day traders all over the world use the reverse trading strategy, although some consider it as potentially dangerous. It is also called a mean reversion and a pullback trend strategy. Using it, the trader you aim to trade against the price trend. 

So, how to win WSDT with that? 

Traders try to exit the given positions before a reversal, or they get out once they can see the reversal movement underway. To perform this in the right way, a trader needs to precisely identify whether this is a reversal or pullback and forecast its strength. So, this requires in-depth market understanding and a certain leve of experience.

Pivot Points Day Trading Strategy for WSDT

The pivot points strategy requires identifying support and resistance levels and acting accordingly. 

How to win WSDT using this strategy? Traders can use it to identify points of both entry and exit, as well as by locating key levels needed for a breakout. 

Pivot points are commonly defined as points of a price direction change. The trader uses price information for a relatively short time frame when he wants to calculate a pivot point. Accuracy is often reduced in such instances. 

Which Day Trading Strategy Is the Best for WSDT?

As you already know, One can use a vast variety of useful strategies at the right moment. When choosing the best one, you should rely on your trading style, your experience, your intuition, and so on.

You must also take into account that every participant will be a team member during WSDT. Thus, team spirit is the way how to win WSDT.

Your team will compete with the other teams, so if your group becomes part of the top three, the leading players will get even larger WSDT prizes.

How to Improve, Advance, and Win WSDT

The World Series of Day Trading is a new day trading competition organized to challenge day traders of every nationality, language, and background and reward the best ones with valuable prizes.

The competition is no joke and will be a tough challenge for contestants but the main prize is more impressive — access to a $240,000 funded account plus a $6,000 voucher.

Join WSDT – Spring games – 2021

Note that, the World Series of Day Trading can be a great platform for day traders to showcase their best skills in the financial market and that is why everyone would be bringing on board their “A” game.

Is there a secret strategy that will help you to win WSDT competition or it is just blind luck?

While luck may be an important factor in competitions such as this, proper preparation is also very crucial.

With this in mind, we have compiled a set of guidelines that will improve your chances of victory in WSDT.

Mental Preparation for WSDT

Day trading is a pretty intense style of trading thus it demands quick actions and a very sharp concentration.

Before and during the competition, a trader should have a keen mental focus, that will enable control over personal behavior and actions.

The best way to achieve a proper mental focus is discipline and strong will power. These are the things that all winners of any competition need to possess.

Another important mental factor that can have a great impact on your success in WSDT is the emotional excitement of competition.

The World Series of Day Trading is an intense competition with up to 4,000 expected participants, so it is very easy to let your emotions overwhelm you. But this is the main reason why we have written this guideline for you – to make you prepared and less anxious.

Moreover, your WSDT mentor is there to assist you anytime, be sure to closely following him on his social media handle and not miss out on any valuable piece of advice. (Later in this article we will explain how to pick the best mentor).

In the end, realize that victory is within your grasp, be confident, use your strengths and strategize how to win WSDT. 

Risk Management during WSDT

It takes a great deal of effort to be victorious in any competition. You need to practice in advance, psychologically and mentally prepared to minimize risks and achieve expected results that play on your strengths and strategy. 

You may trade perfectly without losses if you follow simple rules and calculate the risks during trading sessions by not allowing fear to decide for you. 

Risks and the WRONG ways to trade

  • Become complacent and use the same trades and strategies, just because they work for you.
  • Overestimate your capabilities based on a good trading day and assume you can trade higher capital volume.
  • Trade higher capital volume until you’re a veteran trader
  • Trade irresponsibly based on someone else's market data, use your own and good common sense.

Risk and the Right Way To Trade

  • Be realistic in your capabilities, goals, trades and with your capital.
  • Time is important in trading and so is patience.
  • Be prepared to react when your goal or target is close
  • Always change your strategies never stick to one set.
  • Develop your plan based on which strategies work for you and your trading style.
  • Only use 5% per month of your capital and increase it sightly if successful.

Day Trading Strategies for WSDT

It is very important to master more than one trading strategy for WSDT. This will dramatically raise your chances of victory and give you the necessary foundation of how to win the World Series of Day Trading.

The primary day trading strategies used are a combination of breakouts, momentum, pivot points, and reversals.

Day trading typically consists of attempts to capture price fluctuations, the sizes of which vary from a few points to several hundred points and can spell the difference between winners and losers.

It is not always necessary for a day trader to immediately respond to microscopic imbalances between supply and demand. Most traders can use traditional candlestick charts in combination with volumes and can be one successful method for you to follow and win WSDT.

Day traders are typically active in the first hour after a trading session opens. Then, they hold positions during the day and adjust protective stop losses. To attain the most profitable position requires attention to detail and complete control.

However, day traders often encounter situations where the accumulated profit instantly disappears due to sharp oncoming movements. One effective and reliable WSDT strategy to protect yourself is to make the correct decisions in a fast-paced environment. The most essential point in determining your victory in WSDT is decision making, in other words, look forward and try not to second guess yourself.

The registration deadline is April 14

The registration deadline is April 14

Not all countries are allowed to the WSDT competition. Look through the list of eligible countries.