Don't you think it would be a red flag if someone doubles account in a few months? What does it mean for annualized returns!?
If you achieve that goal, that would either mean you are having a lucky streak and/or current market conditions are very favorable for your way of trading. In either case, you would be pressing the account too much, imho. It's about risk adjusted returns, not absolute returns, right? I assume all they want to see if that you have an edge and know how to control your risk. It's not a winner takes all contest. If someone offered you to double your money in a few months, how skeptical would you be?
Assuming I do have an edge (which I believe I do), why would I showcase the bare minimum of what my strategy can provide? If I can provide returns with low DD, then why would it be pressing account too much? If my risk is controlled and I am able to profit consistently, what difference does it make? Not being defensive but I think you have the wrong mindset. If I have a skillset/talent, why am I doing the bare minimum? Ryan made it clear they are not going to give an increased fund to someone who is doing well in 2 months only. It must be demonstrated over a period of time longer than 2 months. Me doubling the account is not about a contest. Its about the capability of doing it consistently with good setups that offer good risk/reward. If you think that's skeptical, you may want to consider looking at your own methodology of trading. If I take two people: One person who met the 27.5K target and another who makes 45K, and they both demonstrate good risk management, do you honestly think they are the same trader? They obviously are not. The risk to reward ratio favors the individual who generates 45K. And the one who will get the funding over a period of 2 months or greater and can consistently show good risk management and more than expected return is going to get a bump up in managing a larger account. What it really comes down to qlai is that that individual who generates a larger sum in the same period with good risk management and low DD obviously knows how to read a chart and has an edge over majority of traders. To the untrained eye, it would probably look like a lucky streak/high risk trades.
Alex provided a mentor to you ?? Hmm, I need to look into this ! yeah, I'm half insane - noo, just a very late bloomer - my blooms are large, however..
-$130.00 (roughly) both Monday and Tuesday negative for roughly -$170.00 My target was 2803 as posted in my journal and of course I didn't follow plan (as it sold from 2803 for roughly 11 points). Been feeling really weird about shorting with all this momomentum. But 2803 was the sweet spot and I failed to execute properly.
Mid Day Update. Might be done for the day. Made up Monday and Tuesday Losses (-170 and made a few extra bucks on top. Momentum still in effect as we approach start of leg that took us down last week. Very quick rebound in ES
EOD update. Managed to make a little more. I had 2826 as massive level due to higher time frame but of course I decided to have lunch at that time and missed out. Today we blew through some bigger levels. Understanding momentum is vital in this market.