Top 3 Reasons Why a Leaderboard in a Trading Contest is Important

You are no doubt aware of how prominent a leaderboard is in sport, business and life in general.

Leaderboards have been used for as long as we’ve had two people competing against each other.

One of the most successful book series in our recent history is The Guinness Book of Records.

The reason for this is simple.

As humans, we are goal-oriented and breaking records is part of our DNA.

Bigger, faster, stronger. From the dawn of time until now, humans have continued to strive for bigger and better results.

Click play on the video below to see the top 3 reasons why a leaderboard is beneficial in a trading contest and may help you improve your results.

5th of August leaderboard update for Stage 3

Gold continues to shine for our top 10 traders, many of whom are exclusively trading the precious metal.

Chuan Hui Li is a new contestant and has rocketed to the top of the leaderboard, thanks mainly to a well-timed entry on Gold.

You are no doubt familiar with Zhen Wang, currently placed second, who bought and held Gold to become our Stage 2 champion, with a record return of 3,429.89%.

Please note that trading leveraged products carry risk and you can lose more than you start with.

They say the cream always rises to the top, and we see several traders who have been consistent throughout all three stages, still occupying the top spots in August.

Here is the current leaderboard.

Leaderboard Aug 5 Update.png

Gold’s impressive trend higher

As you can see from the 5-minute chart of Gold below, the overnight price action was incredible.

Gold broke out of $1,978 range early in the session and never looked back, moving from $1,975.82 to close at $2,018.75.

The 5-min chart shows several spots where some profit-taking took place, but overall, every pullback was met with buying enthusiasm.

XAUUSD.png

Are you ready to join the next Stage? Click here to register an account.

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Ashley Jessen // Author of CFDs Made Simple, Chief Operating Officer at ACY Securities

Ashley Jessen is the author of CFDs Made Simple and Chief Operating Officer at ACY Securities. He has been in the financial services industry since the year 2000 and worked for some of the leading companies in the CFD, Forex and Online Trading space.