I did own the company, hence the ability to trade. Traders aren't doing manly work. Or womanly, or whatever. It's still pressing buttons.
I never said manly work or womanly work that is your silly frame. I said man up or woman up. Again, which means take RESPONSIBILITY. Using your body doesn't = manly womanly or whatever. It is just labor. Again-- since you can't understand. People cry and complain about these companies when they are not doing a single thing wrong-- man up or woman up and stop being babies. If you can't handle the tight risk + targets they demand, then it isn't for you. It is likely not for the majority of traders. Most will come with their low percentage style of trading that doesn't manage risk well, that puts added pressure on their ability to emotionally handle losses without blowing up-- Responsibility.
I understand. I am not sure what you are going on about. Yes, take responsibility for your own actions. Ran an company that fed about 17 families. I understand the concept. This doesn't change the fact that these places are bucket shops. Anyway, this conversation is boring. I am unfollowing it.
That's exactly what I meant in my reply, I wasn't being totally clear. It should be really easy to grab a simple 11 points of an instrument ranging hundreds of points in a day, but it decidedly difficult. That's the fascinating bit...That it can be so difficult.
There's no way one can "take responsibility" or "manage risk well" oneself into a Sharpe 3-5 trader, which is what's needed to reliably pass such rules on skill. Claiming that it's up to anyone's responsibility to trade at Sharpe 3-5 is incredibly clueless. "Put in sim effort to fix their trading holes" for Sharpe 3? Totally asinine.
Sanabr - "I know some people here hate the model" Have you paused for a min and thought WHY? it is the ethics of the modal! as you have said yourselves "no secret the company makes most of it's money with monthly memberships and resets." and that is 64 million dollar question. Do you know the REAL prop firms DO not do all this BS ... THEY HUNT TALENT at their own cost. - Another point many have mentioned here is to do with Draw down rules the accusation is that after a certain point the "Funding firm" does not really have any risk... you are trading your own money any way from that point any way and giving away 20% or whatever for that "facility" - Another point is about deceptive marketing Many who are not prudent get all fooled when they see "OH I may get funded for $150,000 AS if it is a real $150,000 in an account ,, in reality it is perhaps just notional and if it is THEN not disclosing it is pure deceptive.. This is only good for those who can pass the test in almost 1 attempt and if the Funding does not have the dreaded drawn down favoring the funding company Another pont you say "their numbers are in line with the entire trading industry in that a big majority of people lose money in the end" I am assuming when you say INDUSTRY to be apples with apples or close I am assuming the REAL PROP firm industry.. sure the failure rate would be similar BUT the big diff is those who fail through the REAL prop model don;t spent hundreds on TETS fees... Regulations: True Equity prop firms in USA are regulated this new breed is not.. for some of us it is a red flag Any way it is your money your risk , your life .. bets of luck but please don't think that these are anywhere near ethically to real prop who DO NOT NEED any marketing gimmick the only reason they would market is to attract talent from other Real Props
Something worth reading! IMHO https://www.elitetrader.com/et/thre...-one-up-and-earn-2-trade.351341/#post-5226800
You are clueless if you do not know how to implement such a strategy, you likely have a myopic understanding of trading strategies. That is what take responsibility means. It also means that most traders will inevitably fail because they are not traders who can trade to that level. If a person 'needs' these companies, then it is their job to become that type of trader. It isn't supposed to be easy, and likely such a person will need plenty of time developing such a strategy, not taking combines/tryouts wasting money as they learn.
I love it when you guys lose money. It's the only way for me to make money in a less than zero sum game. Keep up the great work. -Best, -FG
Show us the hedge funds and CTAs with Sharpe >3 and >5 years track record. You can start with sites like iasg.com and ctadatabase.fundpeak.com. Search any database and name the names.