03 ts challenge
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This document introduces the TradeSlide Challenge, which aims to help traders prove their skills to potential investors. It does this by tracking traders' performance and risk management over time using a system of "badges" of different colors that represent different skill levels. Traders can improve their badges and overall score by focusing on the elements that measure important trading skills like risk management, discipline, and handling losses. The document provides information on understanding the badges, how to improve one's score, and where to find help through TradeSlide's knowledge base and mentor system.
03 ts challenge
- 2. 2 TS Challenge – Welcome! • Would you want to trade for a living? You’re probably not there for 2 reasons: • Capital: Great returns on little capital are little returns :-( • Credibility: without it, capital won’t invest in your skill! • To overcome this Chicken Egg problem, we invite you to compete with fellow traders at • Making money, AND • Meeting skill filters (aka badges): TS Badges sort skilled traders from lucky gamblers, and prove skills (risk management, discipline) that investors demand • Our skill filters matter: we have reviewed thousands of track-records for traders and identified that traders excelling at these filters deliver consistent returns over time • This means: if you prove to investors that you master these core skills, you will have PROVE that your trading is consistent – which will hopefully make you credible with investors • Welcome to the Challenge – and see you at the TOP!
- 3. 3 INDEX 1. UNDERSTANDING THE CHALLENGE 2. HOW TO IMPROVE? 3. QUESTIONS?
- 4. 4 TS Challenge – TS Skill Elements* Rationale Ex • Experience: the longer the track-record, the less chance that performance was achieved through luck Rs • Risk stability: the more stable the risk, the less scope for investor surprises, the more investable the strategy Lc • Leverage consistency: consistent leverage is a proof of sound risk management La • Loss aversion: it takes skill and discipline to overcome loss aversion Es • Exit strategy: Good trades exits are conclusive proof that a strategy works Pf • Performance: It’s impossible to win, display skills AND be lucky at the same time!Thus: if you generate profits AND demonstrate skill, you deserve investor capital! *New Elements will be introduced on an ongoing basis
- 5. 5 TS Challenge – Understanding your Badges (1) We scan your track-record for trading skill And reward any evidence with colored Badges • The color of each TS Element / badge describes skill in a progression of 3 colors: • Yellow = lowest skill • Magenta = highest skill • Badges have a clock-wise intra-level % progress indicator (about 75% progress within Magenta in this example) • The color hierarchy is common to all Badges 2/3 of Ex Magenta completed! Ex Score: 8.6 / 10 Evolution of your Ex Score Your relative situation compared to the members of the community
- 6. 6 TS Challenge – Understanding your Badges (2) Want to have a brief description of where you are at? Use the help feature! • A detailed message of your current situation for each badge will appear • Click on the badges and concepts to open a help feature describing each badge and concept
- 7. 7 TS Score – Driven by the Badges Excelling on any one badge… Doesn’t help your TS Score much if you fail on the others! • Badges are ONLY driven by trades • The 0-100 TS Score depends on Badges: • Level of individual badges • Relative level of ALL badges • Penalized by WORST badges • Easiest way to improve your TS Score = trade thinking of your WORST badge! Loss Aversion penalizes this strategy (yellow is the weakest colour at TS)
- 8. 8 TS Help – Available everywhere! Have a question about any element of TradeSlide? Place your mouse above it and wait for the answer to pop-up! • The Elements of the Challenge are explained in a contextual help system • Just place the mouse cursor above any element, and wait for the question mark. Then, click to access the help • Quick: left hand side summary • In depth: opens the relevant elements of the Knowledge Base • Feel free to share any questions or contribute any articles (this grows your mentor score!)
- 9. 9 INDEX 1. UNDERSTANDING THE CHALLENGE 2. HOW TO IMPROVE? 3. QUESTIONS?
- 10. 10 TS Challenge – How to improve? Trade with a new purpose! Once you target SKILL – performance FOLLOWS! Review your diagnostic charts for each element (below the Badges)2 1 Internalize why each TS Element matters, visiting the Knowledge Base 3 Learn from fellow traders who excel on your weak badges 4 Reach out to mentors for help!
- 11. 11 INDEX 1. UNDERSTANDING THE CHALLENGE 2. HOW TO IMPROVE? 3. QUESTIONS?
- 12. 12 Questions? Trading is hard – no wonder there are unanswered questions! (Why not, together, build a Knowledge Base that answers them all?) • The Knowledge Base contains TS Mentors’ answers to all your questions! • Mentors are Traders like you who enjoy helping out, and are voted very good at it, AND • Trading educators hand-picked for quality and broker independence, who pitch their materials • Want to contribute? Great! • Post an article / Post • Ask or answer questions • Rate fellow traders’ contributions
- 13. 13 Can you do better? • This article is a “stub” (an unfinished entry that MUST be improved) • We need your questions & feedback to improve it! • Feel free to post your questions to the TS Knowledge Base • Have suggestions? • theowl@tradeslide.com can’t wait to hear them • We’d love to credit you for improving our content • Contributing to the Q&A sections will boost your mentor score if others like what you post (even questions do!) – helping out will reflect on your community standing, which means • More traders will visit the URL on your profile • When they visit, they’ll request your mentoring! • If they do it enough, we’ll offer invitations to you