How did $10k grow to $116k in 3 days?

Trading Discussion
1

Right now, there is a competition going on from FBS broker and is in its 3rd day.

I am intrigued by the trading result of the top traders in this competition and will be most appreciative if someone with experience here to explain to me how these Top traders can double, triple, ten times their initial funded capital of $1ok.

Take the result of the 1st Place Trader. He has a balance of $116,878 from just 3 days of competition trading, from an initial of $10k.

Can someone enlighten me how he does it? That is 11.6 times growth!!

From the screenshot, you also see other traders doing very very very well too, with 9 times growth, etc.

How did they do it?

[Screenshot of the Leaderboard]
(htt p://i65.tinypic.com/zoi6w7.png)

2

Sounds great, thanks for info!

3

Lucky trade or in with the market makers… or banks.

4

he’s clearly an aggressive and experienced trader lol those results are possible if you know what you’re doing

5

Having entered some competitions, all normal trading goes out the window.
The only way to win these is to take ridiculous risks that no sane person would take with real money.
They are just a bit of fun and shouldnt be taken seriously

2 Likes
6

Hmm, really Shell. More like they are possible if your get lucky, it’s got nothing to do with knowing what you are doing.

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7

@eddieb is correct.

Conservative money and risk management principles as taught at most places on the internet goes out the window. If you want to win, you have to employ a very different strategy.

You cant risk 1% of your account to try to make 2% or 3% return per trade and expect to win.

You have to risk all of your account to make 200% or 300% return per trade to stand a chance of winning because your competition are approaching it like that.

Basically, the whole account balance is used as margin with maximum leverage to get the maximum possible return per trade.

Its an all or nothing type approach to try and win the competition.

4 Likes
8

none of us really know to be honest

9

I do understand they do not adhere to conservative money and risk reward, etc.

What i dont understand is exactly how they trade and what pair they are trading on and the lot sizing to achieve double and triple return in just one trading day. I was trading on eur/usd and i can tell you that within one trading days, even if i risk the whole capital of $10k by trading 9 lots on the given leverage of 1:100, i cant see how one can double or triple the capital in one day as the pair does not have such an ATR even when trending. I was wondering which pair they were trading on that is trending and with such a huge ATR that when they are lucky tight, they can double to triple their capital. I just dont know which pair gives them that trending range the last 3 days. Just cant figure it out!

10

If I was in a trading competition, with the objective to make the highest possible return in the shortest period of time.

  • I would look for a turning point for a medium to longer term trend.
  • Risk my whole balance on one trade
  • Try and ride that trend.
  • use any unrealized profit as additional margin to open more trades.

I would attempt to get my whole balance and all unrealized profit in the market riding a trend. Otherwise known as compounding.

An all or nothing type approach.

This is how you make astronomical returns trading. It is as simple as that.

The what they were trading, the how they were trading, the when they were trading cant be answered by us here but is it relevant?

2 Likes
11

Maybe they are all riding the XAU/EUR Wave too… :+1:

1 Like
12

True, also how’s you lose everything very quickly. It’s fine when you have 1,000 people trying this. One will succeed in the short term by luck.

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13

All on black! Probably being really aggressive with trading. More of a gamble :slight_smile: I just stick with my 3%, not risking any of my capital :stuck_out_tongue:

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14

You hit the nail on its head. You do however need to have the skill to see a reversal happening.

The compounding feature is most likely how they are able to double and triple in one day. This solves the key secret used by these traders.

15

Indeed but its demo money.

If its a free to enter competition, you have nothing to lose and prizes to gain.

1 Like
16

Agree. This is what i observed. The top trader disappears after the first day and another took over with even bigger profits, like 11.6 times after the third day. Either extremely skillful or extremely lucky…but yes, this could be their trading secret to achieve such huge returns.

17

Was Xau/Eud the most trending pair these few days?

18

Beautiful explanation. I will try this for the next competition.

19

It has trended these past couple of days but USDCAD has moved quite a bit too.

1 Like
20

You do not need huge moves to double or triple your amount to risk.

It can help, but you can do it with a 20 pip move for example.

1 Like