Get these Forex Scalping Cheatsheets plus the Delphi Scalping FREE Report and the FREE Hot Time Indicator just now. Learn this powerful Fibonacci Retracement method FREE that pulls 500+ pips per trade. Discover the Surefire Trading Challenge Award Winning Forex Trading System that made 2956% ROI in just 1 Month! This is what Mark McRae says: It’s almost time for one of the most important trading competitions of the year, but I must tell you something first.
Why I want to change the competition…..
I recently asked everyone to take part in a small survey and asked the question if they would prefer the old format or the new format for the competition. These were the results: 86.8% of people want the new format. This confirmed my suspicion that we needed to change the way we approached the competition.
From my perspective it is all about trying to find the best systems in the world and then giving them to my members. That’s not an easy task. We have made small changes to the rules every competition in an attempt to produce better and better systems for trading. But now I feel it’s time for a big change.
I might just mention here that even though we are trying a new approach, we still produce the closest thing to something real that you can find anywhere on the Internet. No one has ever come close to the end result of the Surefire Trading Challenge. You won’t find another website that has some of the best systems and the ability to interact with the inventors of those systems.
But, and this is a big but, I want to raise the bar. We all know the only real way to tell the men from the boys is live trading. The problem is that there are hundreds of good ideas that never see the light of day because of lack of funds. That’s one reason I never restricted the demo section of the competition in the past.
I always saw the demo section as the test-bed of trading. A place where you were supposed to go mad, try new ideas, be outlandish and get all the rubbish out of your system. People tend to be to scared to try original concepts when real money is at stake.
If you look at some of our past winners of the competition you will see that most of the original ideas came from the demo section. It’s like the Formula 1 of racing where you get to prove your idea works before you take the innovation into production.
Once you get over that stage the demo account should be used exactly as if it were a real account. It should be a tool to demonstrate if your system works or doesn’t work. The problem is that not enough people take the demo account to stage two where they get serious about how they intend to trade. If you can’t make it on a demo account with your idea there is no reason to think you can make it with a live account – that’s
just wishful thinking. At the same time the demo part is still very important because it allows new blood to come into the competition. In short……
- In the first stage of the competition everyone will download the same demo MT4 platform and everyone will start with $1,000.
- There will be a minimum lot size that can be traded and a maximum combined of all open positions that can be traded.
Like everything, this is a starting point. By restricting the demo stage it should stop any wild trading and create a more even platform. I also want to avoid a situation where the live traders are at a disadvantage during the demo stage. We have come up with a very inventive way of verifying each trade and you will be able to see that on Thursday or Friday when I release the final rules and you can sign up. Remember you never have to pay anything to take part in this competition. There will be two stages.
Stage 1
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Everyone starts with a demo account. After 30 days the top 20 will go though to the live section.
Stage 2
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The top 20 from the demo section will trade one of my $1,000 live accounts. At the end of 30 days the top 5 will receive the following in cash:
1st Place $15,000
2nd Place $10,000
3rd Place $5,000
4th Place $3,000
5th Place $1,000
I also asked in another survey whether we should start the competition on Sunday the 18th or Monday the 19th of April. 66% preferred Monday and I can now confirm we will be starting on Monday the 19th of April. This is what trading is all about. I might not have all the answers but I continually try to improve and I encourage you to do the same. Take part, even if its just for fun. I will have all the final arrangements worked out by Thursday or Friday. I will drop you a line then.
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