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Sorry I skipped yesterday - was a normal day similar to the other days. Overtraded a bit, ended green.
Today marks day 10 of my evaluation challenge. That's also the last day (I think - subject to trade review by TradeDay).
Some thoughts:
1. The evaluation challenge was quite easy overall. Traded a little every day (10 days in a row) and managed to end every day in profit.
2. The first few days of the eval are tricky due to max drawdown. Once you build a cushion - easy.
3. I overtraded/got too comfortable/YOLO'd a bit once I reached +$3k which lead to some stagnation around that mark for a few days with very little growth. Something I need to work on.
4. Ended the eval at ~$4k in profit (profit goal for the 50k account is $2500). I would honestly recommend this account size over larger accounts because with TradeDay if you grow your account they are going to let you trade bigger size no problem. So for me this account is good enough because if I wanted to I could grow it to $10-20k+ and ask to increase size to 10-20 lots.
My funded account (not sim - real account) should be operational within about a week. Going to take it easy, re-evaluate risk and trade accordingly. No further updates here until I hit some funded account milestone I think.
Hey there - I really appreciate your post and updates. I have been researching funded firms for a couple weeks now and am basically going to go with either TradeDay or TopStep. I wanted to know if you have any updates on your experience, good or bad? Like you, I only trade 1 ES contract, although I am more of a scalper. I also want to start with a smaller account - 25k or the 50k. I did sign up for TopStep a couple days ago as they have a nice sale going on, they also provide a basic version of the Quantower platform which I really prefer over others. That said, I think TradeDay has better withdrawal rules and looks great. Their support so far for my questions has been very quick and I think one of the owners actually responded to my email. So that is a nice sign. Can you provide any more details on your experience and whether you were/are funded? Thanks in advance!
Also, what platform do you use? I think I may sign up for the 14 day trial with TD. Looking at platforms I think Tradovate would probably be the way I go since they don't' have Quantower.
mantaskon
Vilnius, Lithuania
Posts: 33 since Jun 2023
Thanks Given: 22
Thanks Received: 31
TradeDay are an amazing company - no BS rules, completely transprent and very easy to work with. I realized that a funded account isn't for me after looking deeper into some of the comments that people made in this thread earlier. Namely having to register as a financial advisor when handling other people's money and such.
With that said the combine was great, everything about TradeDay as a company seems legit to me. I closed my funded account, but it was a proper account with a proper clearing firm.
1. TradeDay have been great throughout.
2. I don't like TopStep's withdrawal rules. To withdraw all of your funds and close your account I think they now require 30 profitable days (don't have to be consecutive days) which is insane. It's your money, why can't you just take it and go if that's what you want?
3. I use Tradovate. Looked into Optimus Futures as well (and their platform), but in the end went with Tradovate for ease of account setup and have been using it since.
Thanks for the reply! I will give TradeDay a chance I think. I am curious about your comment about having to be registered as a financial advisor. Is that a law in your particular country? I am in the US, and so far haven't heard of that for trading with a prop firm. Thanks again for the insight/info.
mantaskon
Vilnius, Lithuania
Posts: 33 since Jun 2023
Thanks Given: 22
Thanks Received: 31
Well it's definitely country specific. Me being in the EU makes trading money that isn't my own (like you do with a prop firm and that's also why you have to pay for a professional data feed, etc) a bit complicated. I'm sure I could just ignore this, but I want to avoid any unnecessary complications/tax implications/legal issues in the future.
