09 Oct Finding Systems For Quick Growth
Finding Systems For Quick Growth
Oct. 9, 2019
Where can we go for quick growth?
We know we have to be patient and these things take time.
We know we have to commit to the long haul.
But what if we also need to make money in the near future? What do we do then?
Specifically, where can we look to find some ideas?
How about a Trading Contest?
Think about it: what’s the goal of a trading contest? The goal is to make as much money as possible in a short period of time.
Isn’t that what we’re trying to do?
What’s a reasonable benchmark, though?
Well, looking a the current standings of a popular trading contest, we see that the trader in 1st place in the Forex division in 2019 is up 76.7%. And the trader in 2nd place is just behind at 76.6%.
That’s pretty good, right? Would we be happy with a 76% gain so far this year?
I would say so.
Just for fun, how much did the Forex winner last year make? The 2018 Forex winner returned 200%! That seems pretty crazy. What did 2nd place make? 72.8%,
For just one more example, let’s see what the 2017 Forex winner made.
The 2017 Forex winner made 100.3%.
So it seems like the Forex traders are making between 70-100% fairly consistently. Again, isn’t that exactly what we mean by “growing an account quickly”?
Couldn’t we try to simulate what those traders are doing to get the gains we’re looking for?
There are a few problems with that.
The biggest obstacle is the contest itself.
Most contests are suspect at best. They allow traders to enter the competition with Demo accounts, and that’s not useful. If a trader uses a Demo account, they can just crank up fake leverage to get fake gains using systems and money management that could never be replicated.
Agreed. Contests like that are way too reckless.
But the contest I quoted above is quite different than that. It’s a real-money contest. All entrants must open a live account and fund it with actual money. Because of that, all those percentage gains happened in real life.
Well, they probably only risk a few dollars in small accounts, so they’re still too reckless.
Good point. But the minimum account size for the contest is $5,000. To me, that’s a big enough amount of money that a trader wouldn’t want to throw it away with ridiculous systems.
And all results are verified through a broker.
If we agree, then, that the contest isn’t bogus, we’re back to the same question.
If these contest traders are making big returns in a short period of time, isn’t that something we should look into?
What are they trading to win these contests? How do they do it?
Is it possible to even find out?
And we’ll go over one of those systems in our next email.
Get the robots here.
To get on the email list, go here.
To see my weekly YouTube video, go here.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these sites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, the publisher, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.