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My thinking is you definitely need 50G (which I don't have) and more than 2 years track record (which I still don't have lol) to be even considered for the funding.
What struck me was he doesn't care if you trade 1 contract, so why does it matter if I have 50G or not if I just need to trade 1 contract? If he is looking for a great trader, you look at the performance, not how much fund you have.
The good thing is the performance metric that you can follow and see what you need to improve.
I think for the average trader they shouldn't worry about getting funded. Fundseeder has a great analytics platform that will help most traders to see, understand, and improve their trading. And best of all it is free to use.
He emphasized that pain-to-gain was his biggest metric to watch. If you can generate large returns with very low draw down and a smooth curve over one year, I bet they are still going to take a look. Even if your account size is less than their "optimal" size.
I am very grateful that you have brought Jack S. to give traders a dose of reality of what it takes to be funded in the real world. As Jack said:
1) 50K Minimum
2) 1-2 years of track record.
3) "Returns are meaningless" rather the risk taken, leverage used, etc. is looked upon more favorably.
To be honest, I think that Jack's conditions are fairy light and reasonable as compare to the some of the prop shops, family offices, etc.
Last point: Over the years I have seen many traders who started off well, and sadly "lost it". Although there are no guarantees, I do believe these kind of tools help you analyze objectively where your pitfalls maybe (not to mention it's free)
I look forward to the development of FundSeeder Technologies and glad we three FCMs that can hook up to them.
@tturner86 thank you so much for your efforts in moderating and executing this webinar.
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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