No one should subject themselves to such treatment. This sounds like a bad deal from pretty much every point of view. Could I be missing something? Do they have the Holy Grail and are they willing to share it? Ridiculous!
From your live trading futures experience with real money, can you elaborate on which conditions of the combine do you believe are the most challenging, and why? To recap, here's what they require on the 50k combine: 1. Pick any 10 days to trade out of 30 calendar days 2. Do not hit the 1k max draw on any given day 3. Meet the $3500 profit objective And TWO of the following: 1. Average Win greater than Average Loss 2. Average Win duration greater than Average Loss duration 3. Overall Win percentage of 45% or greater Since at least 27 traders have passed, it's doable. However, at least two of the reports show how the trader passed on the 10th day they could trade, where they "gunned it" and barely met the objective. So obviously there was a bit of luck involved. It would be good for those viewing the combine to get input from experienced futures traders as to why they think it's flawed.
There are at least 750 players in Major League Baseball (varies by point in season), so that is doable as well. There are hundreds in the Hall of Fame, so that is also doable. Every year there is an MVP -- doable. The key may be how many pony up the money versus how many make at least triple the minimum wage -- a low bar to be sure. The "doable' concept is not the way to judge almost anything.
Good point. It's a matter of perspective. If one is relying on this as their only source of income, it may be tough. I already have a prop account (equities) and trade full time, so any gains would be a supplement. For $200 bucks or so, it's worth taking the challenge and if successful, getting a live account with zero fixed monthly costs, perhaps to trade a few lots of the Euro or Aussie in the late evenings when US markets are closed but the overseas markets are open.
Am I missing something? But this looks to me that someone who can return 7% on their trading account with no more than a 2% draw down in one month doesn't need this deal. It would be interesting to see what they (the company) did in the 30 day period with their own $50 grand, you'd expect them to do at least as well as what is required to work with them.
What's the difference between this offer and what the other elite sponsor Mercenary is offering? Do these guys introduce successful traders to institutional money also?
Two completely different deals. Mercenary is taking guys "already" with a track record who are willing to "fund their own" account to put up some numbers over a year. Based on those numbers, they introduce you to outside capital. This combine is more for guys learning how to trade which is why it's directed at college students. Think of it more as "your first job" so to speak.
That's the idea. I guess you can say that about the entire prop business model. Hell, you can say that about the entire hedge fund industry.