How to Build Your Own Competition

Trading competitions are an exciting and challenging way to develop your skills, compete, and even earn money. If you’ve always dreamed of hosting your own trading competition or simply wish to find an alternative form of method to add a more fun and engaging element to your existing trading experiences, BullRush makes this an effortless step to follow. A seasoned or new trader in trading competitions, anyone can host their own personal, start-to-finish competition. Here is a step-by-step tutorial on how you can create your own trading competition using BullRush’s “Build Your Own Competition” feature.

Step 1: Sign Up and Create Your BullRush Account

You first need to create an account at BullRush before you can create your own trading competition. Go to the site and sign up. You can begin creating your trading competition after logging in.

Step 2: Choose the Length of Your Competition

BullRush gives you control over how long your competition is. You can select the length that will work best for you and your competitors:

• 1 Hour
• 4 Hours
• 12 Hours
• 1 Day
• 1 Week
• 1 Month

Select the time period based on how long or how hard you want the competition to be. Short periods are ideal for quick challenges, while longer periods give participants plenty of time to strategize and execute their trades.

Step 3: Select the Start Date and Time

Select the precise start date and time for your challenge. This gives your participants some notion of when to expect the challenge to begin. In case you desire to plan in advance or start the next day, BullRush enables this with convenience.

Step 4: Select a Participant Limit

Do you want your competition to be limited? You can add a participant limit to control how many traders you wish to join in. This is optional, but it’s great for creating a more intimate experience, or for specific groups or communities.

Step 5: Set the Trading Rules

All competitions have rules, and BullRush allows you to define them. Here are some of the most critical things you can change:

• Daily Drawdown Limits: Set daily loss limits so participants can manage their risk.
• Maximum Drawdown: Set the total loss a participant may incur before being disqualified.
• Starting Balance: Choose the starting balance for each participant. The options are:

$1,000

$5,000

$10,000

$50,000

$100,000

$500,000

$1,000,000

By selecting the appropriate starting balance, you can simulate different trading environments and test participants to trade with different amounts of capital.

Step 6: Customize Banners and Branding

BullRush allows you to upload your own custom banners or choose from default ones. This process allows you to determine the tone of the competition and add your own branding, giving your event a professional and personalized touch in accordance with your vision.

Step 7: Choose the Competition Name

Select a creative, enjoyable name for your contest. The name should reflect the challenge and be memorable to those who participate in it. 

Step 8: Set Entry Fees

BullRush allows you to set entry fees starting at $10 (+ $1 platform fee) if you choose to charge. The site also takes a small commission (2%). This commission goes towards the prize pool and operational expenses.

You can also set a creator fee from 0 to 23% of the entry fees. This will allow you to earn passive income while you run the competition. If the entry fee is $100 and the creator fee is 23%, for example, the remaining amount goes into the prize pool.

Step 9: Determine the Payout Structure

The payout format defines how the prizes are to be distributed to the winners. You can choose the number of winners to give prizes to and split the prize pool between them. For example, you may choose to reward the top three players or pay prizes based on percentage accomplishments.

Step 10: Choose the Product Groups

BullRush gives you the choice to choose which product groups are part of the contest. You can choose from:

All: Forex, Metals, Indices, Crypto

Crypto Only: Trading cryptocurrency pairs only

Select the product category which suits your competition’s objectives and players’ interests.

Deploy and Build the Competition

Once you’ve got everything configured, you’re ready to go ahead and create your competition! Double-check all your settings, make sure everything is properly set, and then go ahead and click on “Create”. BullRush will handle the nitty-gritty for you while you get to promote and engage with contestants.

Why You Should Create Your Own Trading Competition

• Engage Your Community: Hosting a trading competition is a great thing to engage your community or audience with. 
• Emphasize Your Innovativeness: Create a personal trading experience in highlighting your innovativeness and vision. Commissions can be developed from any theme,and prizes.
• Create Passive Income: As an organizer of the competition, you are able to receive a portion of the entry fees. This allows you to make money and organize an event that is worthwhile for participants.