Thanks cmb, i think i have better options even here in India than a 500 USD daily stop loss in oil lol. It would barely cover the risk for one trade in WTI oil.
I hope the post i made before gets through. willing to work on a 50-50 split. The way i described above, you could take out your money any time you wanted ( 4-5k volatility would be standard in oil, so if you're serious i hope you give me a better cushion than that) Estimated break even time would be 8-12 months. ( would recover the 30k USD you'd have invested, plus there'd be 30k USD in trading account left) Cost would only be the monthly 935$ USD for CQG IC which i'd be using.
Nemsis, topstep actually has backed some traders in India. It's not a $500 stop. You get a 150k account with a 3k daily cutoff and a 60/40 profit split. You trade on a combine for 2 to 4 weeks and pass their requirements and they fully back you. The combine costs anywhere from $150 to $400 and you can even get that refunded. Honestly, if you think you are the real deal you should give it a shot. If you can't pass the combine, you probably shouldn't be backed anyway. There is no risk to you so that excuse goes out the window. ET is full of excuses. But the ball is in your court.
I have the impression that the reason most prop firms exist today is that many traders have strategies that require significant six or even low seven figures of capital to execute on a reasonable scale since few trade outrights. In addition it seems many prop traders need access to cash markets (treasuries etc.) or other sophisticated tools that few retail traders can swing without a firm. I'm not knowledgble about prop -- I have always traded my own capital -- but frankly this is the first time I have heard that it calms the nerves to trade OPM. I'm not suggesting that is absurd, it's not. I can see that it might be less nerve wracking to have others on the hook yet it still strikes me as odd that a proffesional would not view that as leak to plug. But hey ... maybe trading prop is the plug!
Thanks for the information! http://mrtopstep.com/ is this what you are referring to? a 150k USD account would be great, do they trade futures too? What are the pre-requisites for the combine? is the combine live trading or simulator ( simulator i guess) is the daily cut off the risk limit or the minimum you need to make per day Also do they have a trading floor which i can join later p.s: are you sure this is genuine? I think this can work out thanks! if any one is interested still do pm me please, i would like to know the requirements @ swan well a low six digit account would be really optimum, but if you are confident you can start of with an amount as low as 30k or 50 k USD. In my case i have already traded with a 30k USD account so i am confident i can pull it off with that kind of money. No more sophisticated tools are required than charts and live price action in the markets. the retail and prop traders are pretty even on that ( i do not have insides about hedge funds) Well retail is not really nerve wrecking, but on execution level there is really a minute difference between making and losing money (slight hesitation to cut your positions etc, also trading with a team> trading alone). so i feel going prop covers up that difference, definitely gives you an edge, makes a difference in PnL As i said i did mange to make money in retail, but nowhere close to what i was making in prop
It's legit. I've met the owner. All your questions can be answered by reading through their website. I don't work for them and they keep changing their structure so I don't want to give you incorrect info that is not up to date. If you REALLY have an edge, you should be able to pass the combine. If you DON'T have an edge, you'll do what most do on here and bitch about the risk limits. If you are going to risk 10 ticks to make 1, don't even bother. If you are going to avg down until the trade goes in your favor, don't bother. Just being honest with you here. If you get one thing out of the whole process it's probably going to be the realization just how tough this is and how much more work you still have in front of you. And it will keep you from blowing through your 30k in savings. Good luck. And this is the correct link: https://www.topsteptrader.com/ I know Mr. Topstep as well. But different guy.
could you please give me a link,i dont see any info on that site. also thanks for the lecture on trading
Thanks mate, this looks quite promising. Must admit though i thought you were a troll at first plus 60/40 split is better than what i am getting atm They'll reply tomorrow i guess. combine account is the demo account 150k? funded account balance only 3000k...
the way I understand it is that you put up 0 dollars once u pass the combine. You can customize a combine, and you can take the combine more then one time. Also the split goes up to 80/20 if you do well enough once u are funded as I remember.