Expression: To be on the best way to win this competition

English as a Second Language English Vocabulary, Grammar and Idioms
1

Hi,
Is the following expression a correct one?

“You are on the best/good way to win this competition”

What I meant by this is you have a potential of winning this whole thing.

Thx in advance and feel free to correct all the mistakes that I might have potentially made while writing this post.

2

I think it needs more. Perhaps:

You are taking/pursuing the best / a good way to win this competition.

3

You can also use:

You are on the right path to win this competiton.