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According to the information on the homepage, it is not possible with the Investor Account. With the Accelerator, an extension of the account to over 30 can be discussed.
Also, the 8 lots here are enough for me for now, but I plan to take more sices in the future (6-12 months). However, I will not do this via one of the "retail prop shops" but via another way that also includes responsible risk management and mentoring, otherwise the chances of failure are quite high from my personal point of view.
I also remember reading somewhere that the accounts are screened and if there are some who continuously make over 50k a month, they are talked to so that they can switch to a "real" account.
I'd have to look where I read that, here on FIO or on their home page or YouTube??? Oh man, I'm getting old.
MR79
"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Yeah. Agree. At least it's spelled out clearly and repeatedly, so the trader needs to accept that this is how it is before enrolling.
What bugged me about my 'failure' and account liquidation at OneUp/MES was that my account was actually 7K in profits. It's hard to complain when you hit a trailing or daily drawdown as that's simple math and un-negotiable...
Absolutely, The rules of the game are set in advance and everyone is expected to engage with them before they start. Complaining about it afterwards is useless, because the responsibility for failure lies with oneself, not with the company.
MR79
"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Thank you. Do you know anything about that operation beyond what's written on the web page?
I took a quick look and the main difference seems to be the promise of a larger account eventually and lower commissions.
You may want to consider the T3 Group I linked to earlier as well. It's possible they'll consider your performance / track-record with LeeLoo and let you trade without depositing capital on that basis alone.
If you wanna know why, search on Elitetrader for the post by someone who went through Apteros (passed eval and was funded). The jist of it is that he experienced a switch-and-bait.
And if only you knew what kind of person Merritt Black is...
I have done my research on this and have to conclude that the individual who posted this has, in my view, a massive risk management problem and has also confirmed this in the forum through his statements.
Accordingly, as stated on the Apteros page "the risk is then adjusted in the live account according to the evaluation", it is reasonable for the company to limit the risk and work with the individual to improve this.
In my opinion, this is clearly a responsible approach to the individual and should also be in their interest to fix the problem and not get upset about it.
What is certainly a justified complaint is that the account was "only" set up with 2.5k and not with 4k as stated on the Apteros page.
However, it is not for me to judge what kind of person Merritt Black is.
But I will take this into consideration in my reflections in the future.
MR79
"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
I have watched the videos linked on the page as well as a lot of others on YouTube and have also been following the SMB for some time where Meritt previously worked.
At the moment, a very strong argument for Apteros is that not only is capital provided, but also the cost structure is about 1/4 compared to others. Furthermore, I personally consider the concept of mentoring and risk management to be particularly important and a unique selling point.
Especially as an "inexperienced" trader like me, these are things that are immensely valuable for the development as a trader.
Thanks for the tip, I have looked into it, but I see the requirement of US citizenship or work permit as a problem. Therefore rather difficult for me to realize at the moment.
MR79
"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Honestly, if you're consistently profitable since May and that continues until next year, I don't really think there's much for you to learn from those guys. Having a good mentor would be extremely worthwhile for all of us, but my belief is that such a mentor is very hard to find and I do not think he will be found in Apteros or any other firm that's easily available for the public.
I may be wrong, but that's what I believe.
Maybe I'm too cynical, but it's my view that mostly anyone who's offering ME any kind of benefit (teaching, "funding", etc.) in this industry simply wants my money. Until I see any substantial proof otherwise - that's what I believe.
In July, they told me that 'in the coming weeks we will have an entity in place to take on non-US traders'.