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Holy crap I have a headache just trying to remember all of their rules!! And the drawdown of only 1000 on a 50k acct is a joke. I trade in drawdowns it's the only way I trade. You also cannot do over 200 contracts a day.. why because it's demo u can scalp bid ask easily always getting filled and beat the game.
This is far from real trading and can actually force you to create bad habits!!! Wow they are creating an army of net losers!
Anyway. I'll give it a try but this bet drawdown of 1000 daily is a joke.
The gauntlet with a 2000 drawdown is much better imo.
And a strange anomaly profit rulem if your daily profit exceeds 40% of your gains then it doesn't count. Lol. Don't have any enormous days or it's a bad thing.
Anyway. Let's see how it goes. I'll post up my trades here end of day.
Can you help answer these questions from other members on NexusFi?
I had a 45 minute conversation with a prop firm principle. I have a system that is profitable and the return metrics are respectable. It's 100% systematic, ZERO discretionary input. It's volatile and the only way to temper that is to increase account size while keeping position size constant. If I double the account size- profit is still above the Short Term CTA average for the year and drawdown falls within line, which is respectable for a trend following system.
I asked him what they hope to achieve by putting someone thru the combine- and his answer was "we're looking for profitable traders to fund".
My response was "I have a 4 year track record of profitability and am only looking for funding, it's what you're looking for ..............."
I received an email about 3 days later asking if I had any questions about the combine and am I ready to start the combine ..........
My only thought was there is very little interest in funding, sure they'll do it for the .0001% of traders that jump thru their hoops- but they generate most of their revenue from traders re-loading their account as they fail combines on a monthly basis. Even some of the most successful traders and successful systems couldn't pass thru their criteria .... I found this review after my experience and it makes sense.
So I started off doing well thinking about how they want me to trade then I did a few more trades and was about at zero gain loss for the day... Then I added and added with the mini nq not minding the rules and or just how quickly 1000 can go with a 5 lot nq or 1 million plus notional!
My attitude sucked actually and there is always something to be learned about yourself or your trading. I'll be at it again tomorrow but I blasted a 5 lot mainly because it is still demo. Sure I paid 100 bucks for it but it is still different than real live trading.
I learned to mind my leverage a lot more but I also learned that this never would have happened had I had more access to more micros and more room for error. But perhaps forcing my losses to be more leaner and realized will be better than fat and unrealized loss which works for me.