Author: WSDT Editor

As the WSDT competition has successfully ended and its best competitors have been announced, we have decided to tell you about some of the highlights and top comments from some of the top winners.

We asked our participants a few questions to get to know more about them and their team, their winning strategies, and overall feelings during the WSDT competition.

A Diversity of Motivations

Continuing with the spirit of top individual performers, WSDT top 3 team winners came from a variety of backgrounds. The nationalities of our interviewees cut across the Atlantic and ranged from Pakistan to Canada, and from the USA to India. Interestingly enough, three out of five interviewees started trading 2-3 years ago.

There was also a diversity of motivations to take part in the competition. While some were confident to achieve top positions, like Vijay (Number 2 in Jerremy Newsome team), others focused on the emotional part and the possibility to manage large share sizes which were in the case of Qadreen (Number 2 in Gil Paz team).

Gurtej’s (Number 1 in Jerremy Newsome team) goal was to “put theory into practice” which showed some form of assertiveness. Destiny (Number 3 in Gil Paz team) merely wanted to have a great time and understand how the competition works.

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Strategies

The winners were keen on being interviewed, and each participant had their own approach to the game. Qadreen focused on a specific volatility target of +3%. Others, like Destiny, had a rather conservative take and decided to break out and down with a tight stop loss in the beginning.

Vijay and Gurtej traded a wide range of stocks and decided to go for gap and go , and moving averages/failure test respectively. Rolf’s (Number 1 in Gil Paz team) case shows the importance of understanding the trading platform which gave him a big push to become one of the top competitors.

He started trading conservatively: “companies I know well”, he said that until he could get access to the trading room to take advantage of some of the suggestions.

Teamwork and Winning

Surprisingly enough, none of the participants stressed the importance of teamwork. Qadreen stated that he decided to join Gil Paz team as he sometimes follows his stock picks while Gurtej remarked the competitive environment within the team when he stated that “we did compete with each other hard as our overall team standing throughout the competition wasn’t in the top 3”.

He added that it was due to the vision to move on from his current job and the room alerts from Tradenet, which made a difference.

Mindset & Emotional Well-Being

Most of the interviewees did not really dig deep into the more psychological part of the competition, nor did they mention having a sense of competition within the team.

Qadreen was the exception. His ultimate purpose was to manage large shares as a means to overcome hindering emotions that pop up when he uses a real account. The daily updates in the overall standings made it a more stressful process, according to Gurtej.

Future Participation & Improvement

The majority of participants agreed that they are going to take part in the WSDT next year. Understanding the software better is going to be one of Rolf’s top priority. Qadreen is thinking of maximizing his share size to a full potential whilst Gurtej recommends to set up a limit on the share size “to make the competition more realistic”.

Some recommendations were suggested regarding real-time updates on the team standings and the automatic closing of positions at the end of each trading day, at 4 p.m.

The WSDT competition has successfully ended and we have announced it's best competitors. In light of this, we have decided to show you some of the highlights and top comments from some of the winners.

We asked our participants a few questions to get to know more about them and their team, their winning strategies, feelings and overall perspective about the WSDT competition. 

A Diversity of Backgrounds

Competitors come from very different countries and diverse backgrounds. Among the TOP 10, we can find winners from Russia, The Dominican Republic, Lithuania, and California.

Some of them got into trading looking for a second income and hoping that the future would allow them to become full-time day traders, as Vilmantas (#2) told us. While others were dead set on a career change like Gary K (#10), who is currently working as a contractor.

Strategies and Tools

Aggressiveness and risk-taking were both pointed out as a must by some of the winners. Valdas N (#8) remarked how important it is in selecting a team with an aggressive approach in mind. That’s why he chose to be part of Stocklock’s team.

Vilmantas further added the importance of risk-taking in such competition if the goal is to climb up to the first position, with many participants and a handful of prizes for the very best.

When it comes to the strategies, the competitors used a myriad of approaches and creative dynamism. From specific tools such as support and resistance, round numbers, pivot trading and being aware of capital injection as Andy F (#7) reported, to fully developed formulas.

For example, Gary K  figured out that trading is about 80% psychology, 15% technique and 5% luck via breakout and breakdown strategy that includes looking for volatility and black swans.

Vladimir S (#4) states: “I got all the picks from all the analysts in the room on Monday, put them in a watchlist and then I created another watch list and put all the \”cheap\” shares from the 1st watch list there. Then, I choose 2 setups good to my mind from them and partially went all in. It brought me $21000 by the end of the day!”

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Education, support and Teamwork

All TOP winners had some form of knowledge about day trading, be it more informal by watching some successful traders or be it professional, explicitly mentioning some day trading service provider.

Some of them emphasized the fact that they had taken formal educational courses in day trading.

Vilmantas N, Vladimir S and Andy K told us that they were following Meir Barak and Stocklock respectively, while Gary K commented on the encouragement and support received from Tradenet.

Some participants did feel mentorship encouraging, while others focused exclusively on individual performance and did not interact with their teams that much.

Mindset and Emotional Well-Being

The diversity of opinions concerning the right psychological approach is remarkable and perhaps one of the aspects that you should highlight the most.

Some traders decided not to trade during all days to avoid exhaustion. Others made it clear that one would have to pay in the form of stress and discipline if you take up an aggressive and risk-taking trading style.

Gary K laid out his extreme discipline and slight disappointment together with some tips: “I was up at 3.00 am every day as trading starts at 6:30 in California, looking to see what my next trade was and formulating a plan. I was self-disciplined enough to stop for the day when I was very close to the maximum daily loss. Overtrading and trying to force trades was a bane to my existence during my last two days.”

Future participation & improvement.

Most participants are willing to participate in the next WSDT and all of them strongly recommended taking part because of the learning process and the possibility to trade with a fully funded account.

Andy F, from the Dominican Republic, went a step further by recommending his Latin American fellows to get involved in the competition since it is not easy to save up enough money to fund an account from the very beginning.

Some of them, like Vladimir S, was so happy with the prize that he does not think he will participate anymore.

A note for improvement to the organizers had to do with the waiting period for the final results and the importance to warn participants to close all positions at the end of the day since that is the reason why some people get disqualified.

And that’s all for now, folks. We will be also happy to hear from other participants’ highlights. Stay tuned for the upcoming World Series of Day Trading.

Country: United States

Trading Profit: $16,887

“I figured out that my formula is 80% psychology, 15% technique, and 5% luck.”

About Gary

Tell us a bit about yourself. Where are you from? 

I am from Mission Viejo, California.

How, when and why did you start day trading?

I was introduced to the Robinhood trading app around March 2018 and tried some other brokers but I lost over 30k of money trading penny stocks, so I am sticking to it because I am looking for a trading career in the near future. At the moment, I am working as a contractor in California, a highly demanding physical job.

How did you learn about WSDT? 

I learned about it through the morning chat room at Tradenet with Meir Barak, Scott Malatesta, through emails and phone calls from my account manager.

Why did you decide to join the competition?

I decided to join because I am a natural-born competitor having been ranked in the world standings of discus throw and being preselected for the 1996 Atlanta Olympic. In my life, I tend to go all or nothing so this is another opportunity for my claim to fame as I been through hardships and being both at the top and bottom. I love the team of people at Tradenet, feeling that I can always get any kind of silly question answered during the mornings.

What was going through your mind when you learned that you had become the winner of WSDT?

I thought: “Oh wow, I’m still in the Top 10”.

Did you really expect to become the winner? Was it your ultimate purpose?

After the 4th day, on Friday, I was in 2nd place overall. I would have secured my third position if I had not overtraded, as I saw my 3rd position slip through my fingers but I thought that, that was not me and that I always strive to become the best.

Strategy

What were your trading style and strategy for this competition?

I chose a breakout and breakdown trading strategy which aimed at finding stocks that are moving and then hit the gas pedal once the stock showed a violent pattern in one direction or another. The breakdown style got me the highest gains during the competition.

What were your favorite hours of trading? 

Well, I have been trading for a bit over a year and I might do so early in the morning or from the opening till the closing time if I have enough time.

Which stocks did you trade?

ROKU was my big winner while other moves were a couple of stocks on the top 20 trades with the guys in the morning as well as oil, gas and gold stocks from DRIP & JNUG when they were in play.

Were you trading your real account while trading a demo account in the competition?

I saw simultaneous trading as distracting although I did a small swing move right before

Emotional well-being and future participation

Moving on to your winning odds. How did you manage to win this competition? What helped you?

I took 2000 shares, all in buying power, from ROKU at 116 when I had already 400 at open and then I covered them at 106. I figured out that my formula is 80% psychology, 15% technique, and 5% luck. After going all-in ROKU at 116 I left for a job that took a few hours, went for lunch with a cushion of 6-7k dollars and then came back and covered the position. I guess I would have covered it earlier if I had been staring at my computer screen.

My move on ROKU moved my status to the 2nd place by the 4th day. It was a crazy trade, moved 10 points with my maxed-out position but my last day was awful. I could not even get one green trade, became very frustrated and kept trading until I almost hit the maximum daily loss.

Was there a point you thought you might blow the account?

At least 3 times but I walked away before making another trade around the minus 3200 loss or so.

How did you manage your confidence as well as your psychological tension?

I was confident but it was hard to manage the tension as I was up at 3:00 am every day (trading starts at 6:30 am in California) thinking and looking to see what my next trade was and formulating a plan. I knew I did not have to let myself stop out and hit my daily max loss. I came close, but I was self-disciplined enough to stop for the day when I was very close to the maximum daily loss. I was only unsure of finding a stock that could move a tremendous amount.

I felt great knowing that my plan for my best trade brought me to the top 10! On the other hand, I was displeased with my performance after the 4th day and was kicking myself the 5th and 6th day for making so many errors as I looked back and saw how many tickets I had. Overtrading and trying to force trades was a bane to my existence in my last 2 days.

Will you take part in the competition next time?

Absolutely, I will definitely take part in the competition again as it is a great test for a competitive individual to get in and out positions pushing the pedal to the metal.

Wrapping up, I’d like to ask you about your final thoughts on the WSDT competition. What would you recommend to the WSDT team to make the competition better?

I’d simply suggest that a reminder could be set up to close all positions by 4:00 because that might be the reason why some people accidentally hold them overnight and then get disqualified.

Final words

Thank you. I had a very wild emotional roller coaster ride in this test of nerves! Thank you all that put this incredible competition into play! I certainly learned quite a bit, especially my mounting frustration as I overtraded the last 2 days.

Country: Dominican Republic
Team: Stelios | Stocklock
Profit: $19,725

“My strategy was based on relevant areas in the market Support and resistance, round numbers, pivot, the zone where the price through level 2 reflects that there is capital injection”

About Andy

Tell a bit about yourself, Where are you from?

I’m from Santo Domingo, Dominican Republic

How, when and why did you start day trading?

I started 2 years ago to study the market through courses on YouTube and online trading academies. I did it because by becoming profitable in trading you get the freedom of time.

How did you learn about WSDT?

I found out through Instagram, in the tradenet account.

Why did you decide to join the competition?

Because I didn’t have the financial resources to fund a large account by myself but I have the ability to achieve profitability in trading.

What was going through your mind when you learned that you had become the winner of WSDT?

I got so excited because it was my goal from day one.

Did you really expect to become the winner? Was it your ultimate purpose?

Yes, I was expecting to win because I have the ability and the capacity to win and I try to learn more about the market each day.

Teamwork

How and why did you pick your team?

I chose the team because I’ve seen very good references for stock_lock since it had to be added to a team, it inspired my confidence because they share their knowledge through groups for free, allowing others to learn from it.

How has your mentor been helping you and your teammates during the competition?

He helped me a lot because he provided encouragement to continue in it because the competition is not that simple.

Did you feel the tension in your team as you’ve been competing with each other or you did support each other instead?

There was no tension because my mentor gave support to all of us without restrictions.

Strategy

What were your trading style and strategy for this competition?

The strategy I used was to combine the relevant areas where the price can’t exceed it in conjunction with the capital injection that I observed in level 2, plus the fundamental analysis that indicated weakness in the price.

My strategy was based on relevant areas in the market Support and resistance, round numbers, pivot, the zone where the price through level 2 reflects that there is capital injection.

How many days did you trade?

Around 4 days, but every day I was waiting for good opportunities, the truth is the market was passed in low range, which leads to little volatility.

What were your favorite hours of trading? 

My favorite time is when the market is opening because it’s the time that gets the most liquidity in the market, based on good analysis.

Which stocks did you trade?

* ROKU, * AAPL among others that I don’t remember.

Were you trading your real account while trading a demo account in the competition? If yes, was it distracting you?

Yes, I was attentive to the possibilities in both of them.

I was totally focused on the competition because I needed to fund an account with a large capital, to be able to dedicate myself completely to the market and stop working on other things that are not so profitable as trading.

Emotional well-being and future participation

Moving on to your winning odds. How did you manage to win this competition? What helped you?

Without a doubt, Capital Management and patience in waiting for the right opportunity. The perseverance helped me because on firsts days of competition I was far from the first places but I only knew that I had to continue since the good operations were going to arrive. I just had to wait for the market to make the correct structures.

How did you manage your confidence as well as your psychological tension?

With a good concentration, I knew that in order to win, I had to remain 100% disciplined because if I did not meet my criteria I would not have the opportunity to have a large account and fulfill my goal of being a Day Trader. And I know that if I didn\’t win I was going to have to work hard in my country for many months to fund an account.

Will you take part in the competition next time?

Of course, for the next competition, I will win the big bill.

Who would you recommend WSDT to? Why?

To all the people I know because in Latin American countries it is difficult to be able to raise the necessary funds to open an account.

Wrapping up, I’d like to ask you about your final thoughts on the WSDT competition. What would you recommend to the WSDT team to make the competition better?

The waiting for the results should be less, because the last day was a long waiting, counting minute by minute for the final results, and the whole morning I was excited to know the news since I knew I would be in one of the first places.

Country: United States Team: Pablo | I&CB Profit: $21,539
“….then I created another watch list and put all the \”cheap\” shares from the 1st watch list there. Then I choose 2 good to my mind setups from them and partially went all in. It brought me $21000 by the end of the day.”

About Vladimir

Tell a bit about yourself, Where are you from? 

Originally I'm from Moscow,  Russia. But several years ago I moved to New York with my family. And we still enjoy living there.

How, when and why did you start day trading?

I started day trading 13 years ago right after my graduation from the University.

How did you learn about WSDT? 

I've been following Meir on YouTube for 5-6 years now. So this is how I learned about the competition.

Why did you decide to join the competition?

I decided to join it because I was intending to win it. And I did it.

What was going through your mind when you learned that you had become the winner of WSDT?

I felt more than happy. It was beyond any of the excitement! I had a game plan but the fact that I did manage to get such a great result following it is a great deal of luck after all. 

Did you really expect to become the winner? Was it your ultimate purpose?

Actually, this was a very nervous time on the last day of the competition when I wasn't trading at all not wanting to risk my 3rd place position I was at that point in time. And finally, I turned out to be on the 4th which is very nice too. Of course when I found out the fact that I was going to become a winner.

Teamwork

How and why did you pick your team?

I decided to join Pablo's team because my best friend's name is Pablo too. He is a baseball player.  He once told me: \”No matter how you play, you got to be in the winning team.\”

How has your mentor been helping you and your teammates during the competition?

Actually, I didn't communicate with either mentor or my team at all.

Did you feel the tension in your team as you’ve been competing with each other or you did support each other instead? 

As I've just said I didn't communicate with anybody so I didn't feel any tension of that kind.

Strategy

What were your trading style and strategy for this competition?

At the beginning of the competition, I was trading following Meir and Scott and that was quite good because my profits were between $300 and $1700. Then I realized that to win that competition I had to change the strategy. So got all the picks from all the analysts in the room on Monday, put them in a watchlist,  then I created another watch list and put all the \”cheap\” shares from the 1st watch list there. Then I choose 2 good to my mind setups from them and partially went all in. It brought me $21,000 by the end of the day.

How many days did you trade?

I traded for 4 days.

What were your favorite hours of trading?

Most of the time I prefer to trade in the morning. 

Which stocks did you trade?

I don't remember all the stocks I traded but the most profitable for me was OSTK. 

Were you trading your real account while trading a demo account in the competition? If yes, has it been distracting you? 

 No, I didn't trade my real account.

Emotional well-being and future participation

Moving on to your winning odds. How did you manage to win this competition? What helped you?

I described the way I won above.

How did you manage your confidence as well as your psychological tension?

I didn't trade every day so this is how I managed my mental strength not get exhausted. 

Will you take part in the competition next time?

 If I keep having the real account I'm going to get as a prize I don't think I'll need to participate anymore. 

Who would you recommend WSDT to? Why?

I would recommend WSDT to everyone who wants to learn what real trading is. Because that's the best opportunity to do that to my mind.

Wrapping up, I’d like to ask you about your final thoughts on the WSDT competition. What would you recommend to the WSDT team to make the competition better?

Everything worked well this time.  I have no thoughts about improvement.

Country: United Kingdom

Profit: $30,564

“Risk management was very important. I was trading very aggressive”

About Vilmantas

Tell a bit about yourself, Where are you from?

I am Lithuanian and I live in the United Kingdom.

How and when did you start day trading? Why? 

Half a year ago. I started to look for a second income.

How did you learn about WSDT?

Found it on the internet.

Why did you decide to join the competition? 

Just wanted to test my skills and luck.

What was going through your mind when you learned that you had become the winner of WSDT?

I was thinking maybe its time to change my current career.

Did you really expect to become the winner? Was it your ultimate purpose?

No, it was a surprise. Probably luck was on my side. First I was very happy, and I cannot believe that I won.

P.s. I was a bit upset that Karim beat me on the last day.

Strategy

What were your trading style and strategy for this competition?

Very aggressive and I was taking risks.

Which day trading strategies did you use? 

I was trading IPO’s, shorting, and searching for weak stocks.

How many days did you trade?

5 days.

What were your favorite hours of trading? 

Early in the morning.

Which stocks did you trade?

Mdr, Roku, ping.

Were you trading your real account while trading a demo account in the competition? If yes, has it been distracting you?

I did not.

Emotional well-being and future participation

Moving on to your winning odds. How did you manage to win this competition? What helped you?

Risk management was very important. I was trading very aggressive.

How did you manage your confidence as well as your psychological tension?

It was really hard and felt a lot of stress.

Will you take part in the competition next time? 

Indeed.

Who would you recommend WSDT to? Why?

It’s a very good simulator, for guys to test their skills in real-time trading.

Wrapping up, I’d like to ask you about your final thoughts on the WSDT competition. What would you recommend to the WSDT team to make the competition better?

Do not update results on the last day of the competition.