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I'm a price action based crude oil futures trader.
Soon, I am going to start a Lite Test from the site of PropTrader's and post my daily progress in this journal thread. They're from Russia and I decided to give it a try and see how good they are!
You will also get an idea about them as you see me progress... I took a leap of faith and decided to write this test... At the end, you can make your own judgement.
The conditions of the LITE test are as follows :
30k initial capital
$1500 drawdown limit
$1500 profit target
$500 daily loss limit
Max. 3 lot
No overnight trading
10 days minimum of trading required to assess
There are two phases of this test. First phase target is $1500 and Second phase target is half of first phase... $750... So, it is going to take atleast a month to complete this process...
Wish me luck!!
Can you help answer these questions from other members on NexusFi?
After doing a lot of googling on which companies are offering prop trading opportunity for remote traders, I shortlisted a few ones. This company is one of them... I found that PropTraders is a little bit new company and they hired around 2-3 traders so far.. (could be more... I'm not 100% sure. It is mentioned in their blog...) The lite test is not so costly either... So, I decided to give it a chance...
BTW, I'm living 1000s of miles away from them... but they got an address, an office and most importantly a few funded traders... So, I felt... I'm going to take a chance...
That is just an exact copy of Topstep Trader. They have four Tariffs/Combines, $30, $50, $100 and $150, with exactly the same targets, maximum position size and drawdown limits as TST. Just a little cheaper but with none of the advantages of a recognised company that has been around for a number of years. Good luck.
Not a great start... I've traded as per my strategy and met with two losses...
I'm stopping here for today... I'll be trading tomorrow..
Reasons for a tragic day : Clearly, I made error of calculation... -_- My strategy requires me to calculate certain things on the fly and I made error (UNFORGIVABLE!!!! wtf...)... That's the reason... At least I could identify my mistakes now... that's a good thing.. imho...
Including commissions ($5 per round-trip) today's loss is $390.