The purpose of the challenge is to expose just how hard this business is in real time. Virtually every financial blog in the world is filled with day traders. Let’s face it almost none of these people are actually trying to manage money. They are gambling. Pure and simple. Do you think any big time successful money managers would trade the way most people do on the financial forums? Of course not.
So rather than listen to how great so and so is and how many perfect calls they got right this is the everyone’s opportunity to actually prove whether they can make money or not. No more of this bullshit about how you made a perfect trade last week. For the purposes of the challenge you are going to have to abide by real time trades like everyone else. There will be no Monday morning quarterbacking anymore.
That means:
You email me your entry or exit within one minute of placing it. That way I can verify the trade. [email protected]
Shares only. Not everyone can trade options. If you want to use leverage you can trade any of the triple leveraged funds.
I could care less if you actually take the trade in your own account. I’m just looking for real time calls. I don’t take every trade that I provide for my subscribers. Often I use more leverage than is appropriate for 90% of people. And I will wait for weeks or months on that fat pitch where I can swing hard.
When you email me your trade I need:
Time it was placed.
Entry or exit price:
Percentage of the portfolio. Don’t tell me you bought 200 shares. That is meaningless as I have no idea how big your account is. 200 shares of USO is different than 200 shares of JDST. Give me a percentage (10%, 20%, 50% or 100% of the total portfolio. You get the idea).
For purposes of the challenge everyone will start with $100,000.
Please no day trading. I don’t have time to track and verify 20 day trades every day.
The prize for the winner will be a life time subscription to the SMT if you can beat my returns over the next year. Or if you choose you can trade it for a cash prize of $500 instead.
Now a word of caution. I can almost without hesitation tell you that those people that just go all in on leverage on every trade will fail miserably. It only takes one or two losing trades to damage a portfolio to the point it’s going to be hard to recover. So plan your trades and position size carefully. The winner will more than likely be the person that is the most risk adverse and avoids taking any big losses rather than the cowboy always swinging for the fences.
We’ve seen lots of bragging over the years. Now we’ll see who really is swimming naked.
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