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BOOK YOUR FREE STRATEGY SESSION NOW >>What do you need to do to participate in the World Cup Trading Championships (Robbins Cup), the prestigious real money trading competition where traders worldwide compete against each other every year?
In this video, Andrea (the only 4-time winner of this competition and teacher of 3 other champions) shows us the basic steps to enter the World Cup Trading Championships.
Watch the video to learn more about:
-The 5 fundamental steps to participate in the championship
-How to choose the broker for the competition
-Andrea's practical advice
Enjoy! 😉
What are the World Cup Trading Championships and how to participate
Hi guys. Today I want to talk about the "World Cup Trading Championships".
As you probably know, I won this contest 4 times and, thanks to this, I often receive emails with requests from traders all over the world, who are willing to participate.
They're asking me, what shall I do? How does it work? Where can I apply? I'm ready to compete against the best traders in the world, but I don't know what to do.
Well, it's not rocket science, but maybe just a step by step explanation of what to do might be helpful.
So, basically, I would recommend to go through 5 important steps.
Step 1 - Visit the website of the organizer
And I would say step 1, visit the website of the organizer, worldcupchampionships.com, and choose the contest that you think might be a good fit for you.
There are actually today, as of today, 2 main competitions. One is the Classical Annual Competition, the one I won, the one Larry Williams won. So something well known.
And then, due to the great interest that this competition generated and to the thrill associated with a daily standing publications, the organizers decided to add another annual contest, but shifted of about six months.
So there are 2 competitions, the annual, Classical, and the "Global Trading Championships", which last goes from mid year to mid year, still 12 months but shifted.
And this is very interesting of course, and you might decide depending on when you decide to compete and you visit the site.
Second thing, you can choose between a competition on futures or on forex, depending on your skills and what you are accustomed to.
Step 2 - Choosing the broker
Step n.2, you have to choose the broker. Not every broker is possible to be used for these competitions. There is a list, not a great list, a short list, and you have to choose. Maybe you know them and you like some of them, or maybe you have just to make some research about the potential of these brokers.
I personally have experience just with 2 of these, those which are at present in the list, Straits and Dorman,
I think they are equivalent from my point of view at least.
I'm an automated trader, so I connect my MultiCharts to the brokers APIs and everything goes in an automated way. And both are, in my opinion, very very good, they're excellent brokers.
Maybe I like a little bit Dorman more, because with Dorman I won the 2012 contest, but this is just from the heart and not from the brain. Okay?
In any case, choose a broker. Don't think about the commissions, because commissions are the same among the different brokers, just to obviously get the same treatment for every participant, they are not very low, but the same at least.
So just decide depending on what you need to use in your trading.
Step 3 - Going through all the paperwork
Step n.3, you have to go through all the paperwork to apply. To apply once you chose a broker, you just go through all the papers depending if you are an existing customer or a new customer, and you just fill in, read everything carefully.
You will get all the information about the rules of the contest and so on.
So, read everything and get really fit and ready to go with this. This is the step n.3.
Step 4 - Wiring the money to start the contest
Step n.4, you have to wire the money to start the contest. The initial capital is, as of today, $10.000 minimum for the futures contest, or $5.000 minimum for the forex.
Surely there is no reason to wire high amounts, unless required by your specific way of trading, because the winner is the one who got the highest percentage return. So obviously the smaller the initial balance, the better the potential for a higher percentage in the results.
Just be careful if you wire from outside the States, which many people do, because the wiring might carry some costs, and you must specify that the costs are all paid by the sender of the wire.
So not to risk that the final balance arrived on the broker’s side is smaller than what you need. Maybe you pay some $50 at the end and you get $9.950 as a balance and this is not fit for the contest.
So be careful that everything is paid from the sender, yourself of course, but from the bank where you send the wire from, you send the money.
This is an important step. Anyway, that is step n.4.
Step 5 - Becoming familiar with the broker infrastructure
Step n.5, everything is ready, but you have to be ready as well. So get accustomed with the broker infrastructure, get accustomed with how it works actually.
How can I send an order? How can I cancel an order? And some brokers require you to list the markets you intend to trade, just because they want to freeze all the others, and just let you work where you desire to work.
Just give the complete list right from the start, so that you don't have trouble when you decide to trade maybe Orange Juice and you are not ready for that, depending on what you are doing.
And of course, if you are an automated trader, as I am, be careful in setting up all the infrastructure connection between your platform, I do it from Multicharts and the broker side.
Be sure that everything works smoothly, so that you can start right off from the start on the right way that you need.
Further advice
That's it, more or less. 5 steps, you go through this, you're ready to start. If you are ready to start, just go inside and I see you in the standings.
If, on the contrary, you feel that you are missing something in terms of preparation or skills, and you want maybe to learn the same method that allowed Stefano Sarafini, Petra Ilona Zacek or Lorenzo Misino, and myself, to win the contest in the past, you can click on the link below and you will get more information about the method that allowed me to win this thing through automated trading, and maybe you can verify if it's a good match also with your requirement or with your skills.
Just to have a peek into what I did myself and some other winners in the past did to take the competition home.
That's it guys, I wish you all the best luck, good trading, and maybe I'll see you on the top of the contest standings in the future.
See you next time. Ciao.
We'll help you map out a plan to fix the problems in your trading and get you to the next level. Answer a few questions on our application and then choose a time that works for you.
BOOK YOUR FREE STRATEGY SESSION NOW >>Andrea Unger here and I help retail traders to improve their trading, scientifically. I went from being a cog in the machine in a multinational company to the only 4-Time World Trading Champion in a little more than 10 years.
I've been a professional trader since 2001 and in 2008 I became World Champion using just 4 automated trading systems.
In 2015 I founded Unger Academy, where I teach my method of developing effecting trading strategies: a scientific, replicable and universal method, based on numbers and statistics, not hunches, which led me and my students to become Champions again and again.
Now I'm here to help you learn how to develop your own strategies, autonomously. This channel will help you improve your trading, know the markets better, and apply the scientific method to financial markets.
Becoming a trader is harder than you think, but if you have passion, will, and sufficient capital, you'll learn how to code and develop effective strategies, manage risk, and diversify a portfolio of trading systems to greatly improve your chances of becoming successful.
