SCOTT WELSH TRADING BLOG

The Grand Experiment

The Grand Experiment

Oct. 7, 2020

A wise person once said, “Don’t bring me problems. Bring me a solution.”

Complaining is toxic. Worrying is paralyzing. Anger is mostly worthless.

Action is the fix-all.

Take action, and things will change.

Here’s a fun fact: U.S. personal finance books are up 50% from five years ago.

Another fun fact: Personal finance book sales are up 28% year-over-year (ending in July 2020).

People are clamoring to know more about how to handle their money.

And the experts have delivered a ton of books on the subject.

What do those books say?

They tell us to save. Great advice.

They tell us wealth is what you don’t spend. It has nothing to do with high income. Very true.

They tell us that creating wealth is a lifestyle, not a cool hack. Agreed.

And then they get to the real subject.

The experts know we can’t save our way to financial independence. It helps, but it’s not enough.

To be financially secure for the rest of our lives, we need something that allows our saved money to make money.

Without a money-increasing engine, we’ll have a few dollars in the bank but never enough to quit our jobs.

And what do the experts say to the innocent people starving for financial advice?

They say to passively invest through index funds and dividend stocks.

Yuck.

I’ve already ranted on that horrible advice. No more ranting (for now).

Don’t bring us a problem; bring us a solution.

It’s time to put up or shut up.

Starting next week, I’m going to put some robots on a small account and try to grow it.

I want that account to beat the market.

If it does, and it’s repeatable, then the argument is over.

No need to rail on the Experts’ obtuse advice any more.

I’m going to start with an $1,800 account. People might criticize this.

If you’re so smart, why don’t you put more money in?

Here’s why.

This isn’t the Million-Dollar-Minimum-Investment Club.

This is the Any-Regular-Person-Can-Do-It Club.

Anyone can open an $1,800 account. If this experiment works, it’s accessible for everyone.

And I’m going to try to grow it. I want $1,800 to grow to something very substantial.

And I’m going to publish the results on myfxbook. It’s not the best way to verify results, but it’s a way.

If I were trying to sell things, this is a horrible idea. To sell more stuff, I should keep things vague and unconfirmable.

But I’m not trying to sell things.

I want to prove a point.

I want to prove the experts wrong.

I want to prove that anyone can do it.

So, next week, The Grand Experiment begins.

Of course, there are a million reasons why I’m going to fail.

And we’ll discuss those in our next newsletter.

Talk to you soon.

 

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Disclaimer:
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.