I tried to participate in a contest at EXNESS. I saw the final result, the winner is champion 1 with the account increasing by 800% to 8000 dollars. I want to ask what kind of trading system can generate such a large profit in a short period of time and is there a method like that, sir??? Thank you, sir
I'm not very familiar with the system they use, as such strategies are usually only known by the traders themselves and are not fully disclosed to the public.
What is clear is that managing trading strategies in contests and daily trading is usually different. This is because contests have time constraints and trading conditions are also determined. As a starting point, you could learn how to or strategies for trading to maximize performance in trading contests.
My advice is not to be misled by trading results. What can be achieved in a contest may not necessarily be repeatable in a trading account. Especially if the contest turns out to be a demo, as traders are likely to be more willing to take high risk strategies than when trading with their own capital.
thanks
That's what I thought, either the trader is very pro or just lucky hehe. I once knew a contest winner whose record was wow, similar to that, it was Larry Williams...
@ Dadang Sdrjt:
Profit of 800% becoming USD8000 means the initial capital was around USD900. In trading, such a percentage of profit is very possible, especially if the trader can manage their trading portfolio precisely. In forex, traders who make big profits usually don't just enter on one currency pair but several pairs at once.
To find out the methods and strategies used, you have to look at the trading history or, if in Metatrader, it's called Account History. For that you can ask your broker (Exness).
From the trading history, it can be known the frequency of entry so that it can be concluded the trading strategy used, whether scalping, day trading, swing, or long term.
Then from the entry levels, the entry strategy can be traced. For example, if day trading, whether entry is done by breakout or bouncing, and from the entry strategy, the entry method and an estimate of what indicators are used can be traced, and also whether price action analysis is used. This can be seen from the shape and position of the candlestick bars at entry.
@ eka sugiyono:
Larry Williams uses a combination of technical and fundamental analysis..