Those of you who are newsletter subscribers may have already read about the micro account stimulation project on the newsletter sent to you on last Sunday. I wanted to dedicate today's post to disclose this project to everyone else so that website visitors as well as ebook customers can learn about it and give any comments or suggestions on the subject. Through this post I will discuss with you what the micro account stimulation project is about, what inspired it and what I expect to get from it through the following years.
So what exactly is this micro account stimulation project (from here called MASP) ? (I really like to give things weird names, right ? ;o) ) A few days ago, while I was doing all my weekly analysis for my weekly newsletter as well as planning for all the trading that would go on next week (both on my managed and personal accounts) I realized that the amount of testing that was going on at the website was not enough to actually test all the systems, projects and ideas that will be going on in 2010. I also realized that I was going to need to open a dozen or more trading accounts and that opening such a large number of micro accounts would not be possible due to the current number of accounts I own on all the different metatrader 4 brokers. Therefore, doing all the testing that I wanted to do for my subscribers on 2010 would become almost impossible for me to do in a reliable fashion, with the brokers I wanted with the quality I wanted, etc.
Then I had a great idea ! :o). What if I give people the money to fund their micro accounts ? This way we'll be able to have a lot of testing information and they'll be able to have funded micro accounts in which they can experience long term profitable systems themselves while we all analyze and see their live trading results. Since the number of subscribers is enough to cover my VPS expenses then why not give the money back to subscribers in a way in which we all can enjoy the tests and results ? Why not build a community with a lot more testing going on ?
The idea of the MASP is exactly this. Once each month, at the end of the month, I will give away 100 USD to one my newsletter subscribers (chosen randomly, feel free to suggest selection mechanisms !!). The only condition is that this 100 USD are used to fund a forex cent account on Alpari US, IBFX, Fxclearing or LiteFX (these are the brokers I know who offer nano lots (one cent per pip with 0.01 lots on the EUR/USD)) and this account is run on a VPS and trades an automated trading system the person chooses amongst different options I give him/her. The account will have to be traded for at least 2 years. After this period of time, the money and any profits will be owned by the subscriber. I am effectively giving away this money so that we can all have a far more varied broker/system/instrument repertoire than what I could obtain by funding micro accounts personally. Add to this the benefit that one subscriber each month will get the experience of running a system "risk free" (in the sense that I gave the money to fund) on a live account. This is a true and effective way of giving back and really helping the profitability of a fellow forex trader. Truly helping someone become profitable in automated trading for the long haul.
Of course, nothing prevents people from taking the 100 USD and running away with them and never opening the cent account or doing the tests. However I will try it for the first few months and see if the idea works. My opinion is that my subscribers are honest people who really want to be profitable with forex automated trading and they will welcome the chance to participate on the tests and open the live account with the money I give them. When a person is chosen I will obviously send him/her an email to ask them if they agree with the conditions and would be willing to carry on the tests, if they don't have the VPS or would not like to make the commitment to trade the account with the selected EA for the next two years then I will pass the offer onto another subscriber. If the idea goes well I will increment the number of accounts funded each month as the number of subscribers increase, hopefully by the end of 2010 I will be able to give away 300 or 400 USD every month :o) (hopefully if more people start to see the value on all the services offered with the newsltter and decide to join)
So what do you think about the MASP ? Do you think it is a good idea ? Do you think it contributes to people becoming long term profitable using automated trading systems ? Please leave any comments you may have abou this, I am really interested in hearing out your opinions ! However if you would like to learn more about all the systems I have programmed as well as how you too can become long term profitable using reliable automated trading systems please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
So what exactly is this micro account stimulation project (from here called MASP) ? (I really like to give things weird names, right ? ;o) ) A few days ago, while I was doing all my weekly analysis for my weekly newsletter as well as planning for all the trading that would go on next week (both on my managed and personal accounts) I realized that the amount of testing that was going on at the website was not enough to actually test all the systems, projects and ideas that will be going on in 2010. I also realized that I was going to need to open a dozen or more trading accounts and that opening such a large number of micro accounts would not be possible due to the current number of accounts I own on all the different metatrader 4 brokers. Therefore, doing all the testing that I wanted to do for my subscribers on 2010 would become almost impossible for me to do in a reliable fashion, with the brokers I wanted with the quality I wanted, etc.
Then I had a great idea ! :o). What if I give people the money to fund their micro accounts ? This way we'll be able to have a lot of testing information and they'll be able to have funded micro accounts in which they can experience long term profitable systems themselves while we all analyze and see their live trading results. Since the number of subscribers is enough to cover my VPS expenses then why not give the money back to subscribers in a way in which we all can enjoy the tests and results ? Why not build a community with a lot more testing going on ?
The idea of the MASP is exactly this. Once each month, at the end of the month, I will give away 100 USD to one my newsletter subscribers (chosen randomly, feel free to suggest selection mechanisms !!). The only condition is that this 100 USD are used to fund a forex cent account on Alpari US, IBFX, Fxclearing or LiteFX (these are the brokers I know who offer nano lots (one cent per pip with 0.01 lots on the EUR/USD)) and this account is run on a VPS and trades an automated trading system the person chooses amongst different options I give him/her. The account will have to be traded for at least 2 years. After this period of time, the money and any profits will be owned by the subscriber. I am effectively giving away this money so that we can all have a far more varied broker/system/instrument repertoire than what I could obtain by funding micro accounts personally. Add to this the benefit that one subscriber each month will get the experience of running a system "risk free" (in the sense that I gave the money to fund) on a live account. This is a true and effective way of giving back and really helping the profitability of a fellow forex trader. Truly helping someone become profitable in automated trading for the long haul.
Of course, nothing prevents people from taking the 100 USD and running away with them and never opening the cent account or doing the tests. However I will try it for the first few months and see if the idea works. My opinion is that my subscribers are honest people who really want to be profitable with forex automated trading and they will welcome the chance to participate on the tests and open the live account with the money I give them. When a person is chosen I will obviously send him/her an email to ask them if they agree with the conditions and would be willing to carry on the tests, if they don't have the VPS or would not like to make the commitment to trade the account with the selected EA for the next two years then I will pass the offer onto another subscriber. If the idea goes well I will increment the number of accounts funded each month as the number of subscribers increase, hopefully by the end of 2010 I will be able to give away 300 or 400 USD every month :o) (hopefully if more people start to see the value on all the services offered with the newsltter and decide to join)
So what do you think about the MASP ? Do you think it is a good idea ? Do you think it contributes to people becoming long term profitable using automated trading systems ? Please leave any comments you may have abou this, I am really interested in hearing out your opinions ! However if you would like to learn more about all the systems I have programmed as well as how you too can become long term profitable using reliable automated trading systems please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
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