"advert window dressing" Sorry but it is a "big deal" becasue it shows how a business portrays itself if the intentions are good then there is no need to window dress If the funded account labelled 25000 is NOT a real 25,000/ 50 K account and notional then to call it 25 K/50K is Mischievous at it's best and downright deceptive at it's worst Irrespective of which Test fee company is doing.. Andd to assume that an average joe who is mesmerism by the carrot of I will get funded to 25K would know that it really is not 25K is a silly assumption For one and all can all the sponsors here disclose what the real funding amount is it will add to the credit ability of their offer ( or expose the Window dressing)
If you trade your own account you would lose $3300 if you can't make 10% in two months while not exceeding 10% drawdown? You are compare apple with orange. What you are saying is that I will cut my finger because otherwise I will not hold myself from cutting my leg. There are many better options: You can trade a sim account until you achieve consistency; You can trade a much smaller account like $200 small forex account; You can set up a sim account at C2 for $19/month and if you can make 10% in two months while keep your drawdown under 10% consistently you will get a few hundred followers each paying you $150/month.
I will show you guys trading for a funded account is a worse option as compared with trading with your challenge fee. Assume traders A and B have the same trading skill level. A pays $429 to earn a funded account. B trades on $429 at a small forex broker account, which allows him to trade smaller unit. Here is such a broker.It offers 500 times leverage and low trading cost that is roughly comparable to trading futures. https://coinexx.com/ And also if you want to trade ES,NQ and YM, it offers US indices products. Since A need to make 10% and can not exceed 10% drawdown, or he will lose $429. B can increase his leverage 10 times as A and if he lose 100% he lose $429. So both have the same risk. Assume A manages to make 10% and earn a funded account at the end of two months. Assume there are 42 trading days in two months. So A make average daily profit of 0.0023(1.0023^42=10%). While B uses 10 times leverage and make average daily profit of 0.023. So B make 266% profit at the end of two months.( 1.023 ^42=266%) At the end of two months: A earns a funded account; B makes $429X266%=$1141. At the end of 4 months: A make $2000(25000X10%X80%); B makes $1141X266%=$3035 At the end of 6 months: A makes $2000; B makes 3035X266%=$8073. At the end of 8 months: A makes $2000; B makes 8073X266%=$21474. A simple truth is: making 10% in two months while not breaking 10% drawdown is as tough as making 266% in two months without 10% drawdown limit, which is equal to making 354 times annually. If you can do this, you can trade a much smaller account of your own to get much better result. In the case when A fail test, B is also better off: If A makes 5% in two months, A has 0 in his account while B has $450; If A lose 5% in two months, A has 0 in his account while B has $407. B is always better off unless he lose 100% in two months, in that case A and B both lose 100%.
AMP Futures have a special offer and will let you day trade a full size emini (NQ, YM and ES ) with only $300 dollar margin. If you are broke you borrow $500 on a credit card or off a friend/family and you are funded and in business! Dont want to borrow money, get a part time job flipping burgers. No one needs these stupid tryout schemes, they are just a scam.
Would you please give me some names of some legitimate prop firms? I always wonder if all of them are scam.
Despite the serious allegations in the complaint, I will wait for the final CFTC/Regional US District Court verdict. These things usually take more than 6 months to get some traction so I will wait until then to pass down judgment Until then, hopefully Earn2Trade will behave in line with the 300+ TrustPilot reviews that they have received For all intents and purposes, it looks like "paying traders" are for the most part, "satisfied" with the service provided
But also keep in mind that with live accounts Funded solely with your own money that there still is the possibility that you could make a bad trade and end up losing more money than you had in your account and then you are sued for the difference. Although brokers have some safeguards in place It can definitely happen in the futures market In a “funded” account with E2T or Topstep there is no chance that can happen to you Just look at this as an example Tax loss carryforward after going broke in trade? Discussion in 'Taxes and Accounting' started by OptionFool, Yesterday at 4:02 PM.
Did he tell you what size he trade? A prop firm on this forum offers free contests with the same rule as funded account challenge.The one I participated was a two day trading contest. I made 30% in two days and thought it should enable me to get the first 3 places. It turned out the top 5 places are all above 200% profit in two days.So what they did? They just bet big size on one direction on one volatile instrument. They hit the lotto, that's it. That is what many challenge takers' purpose. They know they don't have a strategy to make high profit consistently, and they know it is high risky to bet big on their own accounts, so they try to bet big on a funded account if they are lucky to pass the test.