Learn how to hack and win the forex trading contest in 7 steps
|forex trading contest|
In my first participation in the forex trading contest, it exploded in 2 days.
The following year, it ranked ninth out of 2,000 participants.
Now you may ask me: How did I do it?
Well, the answer is that I have some "tricks" in it which I will share with you later.
Realize that these "tricks" that you are about to learn can be used for good or evil.
So, you shouldn't abuse it, okay?
Having advised you, let's start…
What is a forex trading contest?
Forex Trading Contest is a contest between traders to see which trader can generate the highest returns within a period of time, some forex trading contests involve trading with real money while some traders use paper money to trade.
Now, before you get excited about winning the forex trading contest, you need to know the following:
Did you know that winning the forex trading contest does not mean that you have become a consistently profitable trader, but the question here is: why is it?
The answer is quite simply that the Forex trading competition is not real and is like a simulation, there is no pressure on you because you are not trading with real money, and even if you are trading with real money, the amount of trading is often small.
In order for a trader to win the forex trading competition he has to use different trading techniques and strategies, even if some of them break the basic trading rules.
But before we talk about strategies for how to win a forex trading contest, every trader should know the following:
Who is the winner of the most profitable forex trading contest?
It is actually a forex broker, were you surprised by the answer?
Let me explain, my friend:
Sign-ups for the forex trading contest increase, because the traders spread the news among each other like their friends and relatives.
After competing in the competition, a large percentage of new traders will open a real account with a forex broker, this is because they have built familiarity and trust among themselves, and this increases their clients who may pay thousands of dollars if they are advertised.
This strategy is so profitable that Forex brokers can offer cash prizes to the best winner and those who are still ahead of it.
Don't get the above wrong, because this is not illegal, but you just have to know who is the one who wins the most in the forex trading contest.
Now that you know the truth my friend, let's learn together how you can be a contest winner too.
Why you should "become a great trader or not" in the forex trading contest
- First, the trader must risk 1% on each trade.
- Secondly, the trader needs to apply proper forex risk management.
- Third, the trader must risk a small portion of his trading capital.
The above are good forex trading rules that a trader should follow if he is trading with a real account. But if a trader is applying these rules to a forex trading contest then this is a big mistake.
Because the goal of the trading competition is to reach the highest returns within a specified period of time, not knowing which trader has the greatest return compared to the amount of risk.
This means that the trader will place a large position size, risking anywhere from 5 to 50% of their account on each trade, which is the only way for them to get the triple digit return at the end of each trading contest.
Is this logical? Well, now we will break down a second basic rule of professional forex trading.
Why does a trader need a high win rate in a forex trading contest
How do? By having a wide stop loss with a small target profit, this will give you a high profit rate and quickly get you to the top of the competition.
The trader may wonder: do losses not erase most of the profits? In this case the trader is right, in the end the losses will come and wipe out the small wins, so, what should be done is for the trader to bet on the fact that his losses will come after the trading contest ends.
Depending on the duration of the trading contest, the shorter the duration, the higher the chances of success in it.
A trader can enjoy the glory of a superior trader without knowing the dangers of the tail end present in his trading results, we will teach you a trick to bypass the competitors and the competitor will not know what hit him in the face.
How to use one trick to dominate your competitors and leave them in the dust
Even if the trader applies the forex trading techniques that I explained to you earlier, it does not mean that the trader will rank first in the forex contest table, but the trader does not worry about that, we have the solution for that
- The trader who wins the first position 150%.
- The trader who wins the second position earns 140%.
- The trader who wins the 3rd position earns 130%
- The trader who wins the fourth position has a profit of 120%
- The trader who wins the 5th place wins 100% and the forex competition ends in one day.
So what should a trader do? Well, the suggestion is to go ahead, which of course means risking the entire trader's account in one trade. Now before you think that's crazy, let's explain:
There is a 50% chance for the trader to win and a 50% chance for the trader to lose.
Think about it, I find that often the prize for a contest after third place is nothing and everyone only remembers who comes first, so from the point of view of trading risk to reward, it makes sense to enter with a 50% chance of winning a better prize and admit By everyone as the best trader.
Which is why if a trader is playing catch-up and the competition will be over in a short amount of time, it makes sense to get everything involved.
How to achieve 1140% in a forex trading contest
Here's how it works, the trader's financial guru sends a message to 10,000 people, where the newsletter says 50% that the stock called A will go up, and it says 50% that it will go down.
Analyzing this, if stock A rises, it means that 5,000 people have the right choice of stock trading.
Then, the financial guru sends another message to 5,000 people trading, the bulletin says 50% that the stock named B will go up, and it says 50% that the stock B will go down.
The analysis of this is that if stock "B" rises, then this means that the number of 2500 people have owned the correct shares twice in a row.
And again the financial guru sends another message to 2500 people, the bulletin says 50% that stock C will rise, while the bulletin says 50% that stock C will fall.
The analysis of this is that if the stock C rises, then this means that 1250 people have owned the correct stock three times in a row.
If the trader repeats this process 10 times, you will find 9 traders receive the correct choice of shares 10 times in a row.
But how does this generate 1140% in a forex trading contest? Well, here's the secret:
- First: Entering a trading contest 100 times and using a different identity each time, because the more entries a trader can get, the better the returns.
- Second: A trader should risk 50% of his account on each trade, he can risk more if he wants to and this trading technique will still work.
- Third: You will find out of 100 of these accounts, 50 will be long on EUR/USD and the rest will be sold on EUR/USD.
- Fourth: Out of 50 positive forex accounts, 25 will be bought on EUR/USD and the rest will be sold on EUR/USD.
- Fifth: Among the 12 positive forex accounts, you will find 6 that will be sold on EUR/USD and the rest will be sold on EUR/USD.
- Sixth: If the trader repeats these operations until he has one account left, and if all goes well, it is assumed that the account will go up by 1140% - which puts the trader in a very good position.
- Seventh: The trader should not apply the above forex techniques and strategies in a real forex trading account because he will lose everything with time.
What we explained in today’s article titled Learn how to hack and win the forex trading contest, winning the forex trading contest and being a consistently winning trader are two different things, and this requires a set of different skills, usually whoever wins the forex trading contest is a forex broker, and the trader has to take the risk.
He gets a large percentage of his account on every trade, and gets a high profit rate by executing a wide stop loss order or executing a no stop loss order completely, and he also has to participate in the last stage of the multi-entry trading contest, that would be better, leave a comment and tell us your thoughts on how to hack and win the forex trading contest.
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