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Couldn't agree more ... Also the stupid part is their cutoff at 430 why???!!! What if you have a successful swing trading system and looking for funds!! I don't think these services are truly meant to help traders. I believe that even when you pass a combine I bet you they still don't fund you, I bet is still a sim account they just pay you want you make if you.make something and look to take you our as soon as they can for breaking stupid rules.
Another dumb rule is when you hit the drawdown ... Why not let the Trader at minimum until the end of the day to see of he violates that drawdown amount !!! The whole thing is designed to work against you. It's truly a hamster wheel.
The 4.30 cutoff is clearly so the traders only use day trading margin. If somebody is a swing trader and wants to get funded somewhere then they shouldn't waste their time and money doing the tests for clearly stated day trading firms.
The bit about it being a scam and they keep you on a sim account while pretending you're live is just ridiculous.
What would be the point of a drawdown limit if one could exceed it and it was only called at the end of the day. Somebody with so little concern for risk would just double down and blow their whole account. Especially at the start of a funded account when it wouldn't be their money anyway they probably wouldn't be the sort of person that would care less about potentially throwing away all of somebody elses.
You don't sound like a master trader, more like somebody who can't pass a Combine blaming the company.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Why have a cut off when you have a limit position size and most of the time you are controlling 150-300k? The truth is even you get funded I bet is less than 3k (this is simple math) so their risk is very minimal is just a pie in the sky that they are selling (controlling 150/300k) when position and risk limits are a tiny fraction.
If you double down you will blow up anyways so why not let the trader have a chance?
I don't know what a master trader is but if it means trading for over 10 years (started in 2005) have tried almost every technique in the book (order flow, VP/MP, technical and algorithmic trading) also work for energy trading company then that's me. If not then I can change my level to whatever.
It's true I cannot pass a COMBINE, i dont think its designed to be passed. However im more than willing to give you the same parameters (even better ones) as long as you pay me the monthly fee. I can set up a SIM account with tradovate and we can both have access and as long as you follow those rules ill fund you.
Now onto real money and real accounts here is mine (if you want hard statements i can provide those as well)
Regardless of the vendor, typical plans are directed at scalpers and their short-term, low-budget risk profiles.
Compared with that your holding periods of winning and losing trades are beyond the realms of phantasy.
From an OTF point of view (which e.g. people like me prefer) your snapshot looks very ok -
esp in the light of 2017's lack of ES volatility (a little less if the trades were mainly CL).
People with such profiles are normally much better off if they do it on their own (if they can do it consistently).
AI300, are those the stats that Tradovate provides to customers ?
I'm curious as I am looking at a couple of brokers at the moment.
My only issue with Tradovate is that I could not take any strategies (eg Bloodhound or manually coded) from Ninja and use them in Tradovate.
Is maximum drawdown an unrealized pnl or a realized pnl? on the website it says "real time". I emailed the support and they are not giving me clear answer despite I even gave them an example.
So if the price moves in your direction +$300 (unrealized pnl) which is your profit target that does not get filled, and moves opposite direction. You settle for +$150 (realized). My question is does your so called "real time" trailing drawdown move up +$300 initial drawdown or +$150 initial drawdown?
I have worked with TST before and thought that I would try out OneUpTrader. It seemed a better deal for many reasons. I joined the beginner program with the 50K account. I knew that I had a 1200 daily and max draw of 2500. I was up 1000 and then lost down to (-500) over a few days and NOT over one day. Then they froze my account. I emailed them assuming it was just a clerical error and they would fix it. It was then that I discovered how they calculate drawdown. They do NOT calculate draw down by subtracting highest amount while flat minus lowest amount while flat. They calculate the high based on intra trade gains. In other words, if you are up 500 in a trade and price moves against you such that you only profit 250.. your trail amount just went up 500. I called them and stated that I did not agree with how they calculated their trail as it they should base their trail amount on profit after liquidation and not based on intra trade profit. He said that is all explained in the documents I signed and if I wanted to cont trading I would need to reset my account for 100 dollars. I told him that OneUpTrader would not see another dime of my money.
I just wanted all you traders out there to know to STAY AWAY from OneUpTrader. They are there to take your monthly subscription and make profits off of this...not funding traders.