SCOTT WELSH TRADING BLOG

The Overlooked Key To Trading Success

The Overlooked Key To Trading Success

May 27, 2020

For over twenty years, it was my job to build teams.

Most of the time starting from scratch.

I liked it that way.

Those teams went on to win first-ever championships, make a lot of money for my club, and blah, blah, blah.

A lot of people have written a lot of words about how to build successful teams, but I had one trick that worked every time.

I told success stories about people they knew.

Nothing hit home like hearing about someone who had been in their exact same situation and had done this incredible thing.

I didn’t do it to brag or to make myself look good.

I did it to remove their boundaries. As soon as someone knows it can be done, it’s shocking how often they go and do it.

So, in those times I started from scratch, my plan was to work my butt off to try to get one success story.

Once one person became a star, the stars tended to multiply.

Then, seemingly overnight, we had a big-time program.

Now I would love to see this happen in trading.

I’m sick of experts telling us to buy index funds. I’m nauseated by wise people saying we can’t time the market.

I can’t take it anymore.

How can we change it? How can we get people out of index funds and get them to make the money they should be making?

We need stories.

That’s why I entered a real-money trading contest on January 1st, 2020. I had tested a system (Dragonfly) that showed it could beat the market handily for years to come. If the testing was right, I might have a story to tell.

And if I have a story to tell, maybe other people will make money.

How has my system done this year?

Here are the latest standings published by the Contest:

I’m currently in 5th place but not far from 3rd. And, actually, I’m up a little more than that:

Here’s the important part: This shows it’s possible to beat the market.

A Vanguard Index Fund (VFINX), the “best investment on earth”, is in negative territory this year.

A relatively simple automated system is up over 50%.

If you’re getting any return over zero this year, you’re beating the experts.

And I’d love to hear about it.

The more success stories I can share, the more negative obstacles are torn down.

And the more money everyone makes.

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.