Radio announcer Mark Saltzman on CFRB Radio one Sunday afternoon hosted a broadcast where listeners would call in with their favorite websites. Someone called in to talk about how we teach people to trade, earning 5% or more per day. Mujahid, a trader in Toronto, Canada, picked up the show and contacted me.
His experience was primarily with forex, although he had taken many costly courses in the past. In his words, “If I made a couple hundred bucks a week, I’d be dancing all over the house!” That soon changed. Never having heard of options, he readily booked some training, diligently listened, learned and soon enough, started pulling in astonishing returns.
I hosted a personal challenge, accepting and working with only six traders. The objective was to use our signature Bread and Butter strategy and work $1,000 into $100,000 in one year, trading up only the profits. One other simple rule: participants had to send in screen shots of their actual trades. Coming from an audit background, I was not about to believe anyone; they had to show me. That year was 2011. In January, Mujahid started with $900.
Every Tuesday night, and some afternoons, Mujahid and I would get together for our training sessions. He was a soft-spoken person, very personable and friendly but with a thick accent. I often found myself struggling to hear and understand him with our coaching webinars. After each session, Mujahid asked “Hugh, you ok for next week?” “Sure”, I replied.
His success was starting to get attention, as I posted everyone’s ongoing results. Others were also enjoying their gains but Mujahid seemed to jump ahead of the pack. Every day, I would check his screen shots. Sure enough, he was right… win after win. April, he was at $40,000. May came in at $55,000. His hits just kept coming. I checked them all. They were all valid. What can I say? He was good!
Every Tuesday night, our personal sessions continued. He paid, we met, and he went on to take win after win. The following Tuesday… same thing. Soon enough, I simply ran out of material to teach him. He knew the system inside out and he was doing well. Still, “Hugh, you ok for next week?” “Ah, sure…” I tried to explain that this was no longer necessary as he was doing great.
This went on week after week. I would talk. He listened. The same old stuff repeated over and over. “Thanks Hugh, you ok for next week?” I just was not getting through to him. Eventually, I responded “No, we’re done… I have nothing more to teach you.”
At some point, I had to end this pattern. “Mujahid, we’re done. Seriously. You know all the material, you are doing great. We don’t need to do this anymore. We can’t keep taking your money.” He’d reply, “Sure, I understand… so, you’re ok for next week?” This was getting beyond funny. Why would he continue this?
I did finally end the sessions. After all, he was clearly taking the market down singlehandedly. It was on November 22, 2011 that he hit the $100,000 mark. I validated his trades and we had a celebratory webinar in honor of his amazing success. From $900 in January to $100,000 in November – stunning, to say the least!
It was on a public, introductory webinar when I asked him why he kept on with the sessions. Interestingly enough, he explained how he totally understood what I was saying but that he would always enjoy great trades on Wednesdays, Thursdays and Fridays, after our Tuesday night sessions. He felt confident and always took something away, even if but a kernel of information or inspiration from these sessions, just enough to boost his profits afterwards. He scored huge profits after our talks, well worth his time.
On another note, I attribute much of his amazing success to his ulterior motive, that of helping his recently graduated doctor daughter establish her medical practice. Undoubtedly, this was a costly endeavor and his trading earned some much-needed capital to help defray the costs.
To his credit, we ran the challenge in 2012, when he repeated the performance once again. Well done, Mujahid!