Wow, so according to them, you can hold a position in RB futures during the inventory report, but not HO or CL futures. I guess RB just doesn't move like HO. "CRUDE OIL AND NATURAL GAS PRODUCTS - CL, QM, NG, QG, HO." Well thought out. Not to mention that the days of high volatility in energies seems to be happening a day later (Thursday) now than in the past. And then there is the Baker-Hughes rig count report on Friday. What about the API numbers on Tuesday? It seems that if they really wanted to reduce the risk, you would not be allowed to trade any of them, period.
Thank you. I see nothing onerous. When it comes to CL there is basically two news events to be avoided one is every Wednesday and another one once a month. The only thing to be cleared is to know for sure how long before and after those releases to be flat and when after those releases trading is allowed. there is 10 sec rule too. Trader must make all things clear when starting to make attempts to get funded. Everything must be clear and included in plan.
Unfortunately it is not that simple because the rule about economic releases is a lot worse now for funded accounts and it is not what their website says. You say about planning, yes you have to plan very careful when they are coming but there isn't a official calendar so good luck on not missing one, there are some events that makes it very difficult to know the exact time when they start and finish, actually I describe it as very shady rules and the pure intention is just to clean out their inventory of funded account to push them to evaluate again.
I like OneUp and I have no problems with them. I mean we as a group have no problems with them. If you break a rule they give you a warning, if you do it again then your out. To me that's fair. AHG_traderX if you're going to help us here, then talk about things that weren't honored in the contract. You need to pay attention to the rules which are similar to that on OneUp website. Similar but not the same with the funding partner I have. I can only speak about my funding partner not others. I trade CL and the rules are the same, stay away from inventory and FOMC that's it for CL!
If you break a rule they give you a warning it is discretionary, they only apply it if they want. Don't get me wrong, yes the rules are in the contract but the rules are worse than the first time I signed it, to my point that they are cleaning funded accounts from their inventory. And as I said those rules are not the same in Oneup's website (probably explaining why they are 2 "different" companies to avoid legal issues). At the end to make profitable their business model as it is not profiting from "paper" cash trades from funded traders, it is about the ratio of evaluations fees vs what they pay to "funded" accounts. Also if you notice the contract is pretty short term?, I am curious if anybody has stayed funded beyond the duration of the contract and if they have "renew" their contract. Btw there is only one funding partner, everybody I know who got funded did with the same funding partner. I am sure the "split" between both companies it is just to avoid some legal issues, same thing tracers companies do because there are things they are not allowed to do so they just split in 2 "different" companies. For those who are for the challenge, if you get funded , which btw is fairly easy with the rules in the the evaluation as u trade full size with fairly no restrictions, memorize those new rules and don't be shy, hit the funding partner's support to clarify the meaning and parameters of some of them so you don't get caught by surprise and keep your expectations in check, get any money while you can and hopefully fund a cash account with a real broker. Then feel happy you got there.
I apologise for interrupting the current topic of contract duration But, I just got my trial for 2 weeks and would like some clarification on this trailing drawdown - I have a 100k account with 3500 drawdown - If the trailing drawdown is applied to both unrealized and realized p/l - Isn't there a risk that it can close the gap and you no longer have 3500 max drawdown? - meaning that if you don't get out right at the top of a move - the trailing moves up but you got out lower - so the cushion is eroded - can anyone clarify? I want to trade the trial under a correct understanding of the set of rules I tried posting my question in the social room in the application but you cannot post with a trial - it says - upgrade account Also, with news (when funded) They say before, during, after major news (symbol specific) - So, for example FOMC statement - Do you have to wait until after the close to open a position ?- what's the definition/duration of "after"? Thanks in advance everybody This has been a very helpful resource - great discussion!