Not too sure, but there sounds like there would be more to the story that simply 'the thought of vb trading made him blow up.' Maybe not, but there is normally. And you are right. Merritt does love that volume.
Thanks, that was very helpful. I think I've seen somewhere on ET that once funded you are their employee and not independent contractor? Do you know if they require you to commit to full-time trading? Or can you just trade outside of your working hours for additional income. Looks like there is some daily interaction between the trader and the company and you don't have too much freedom of your decision within their risk parameters.
Those are some fair points on SMB, however I trade unique volume indicators and Divergence with great success. Also I use 1 min charts, scalping at 73% win rate. I do thin tick and renko have there place with the right system.. I know a couple people using oiltradingroom.com hitting over 80% wins Rob Mitchel's progam, which consist of orderflow, divergence, probabilties Reno bars.. maybe volume..
also someone told me to ask SMB if after qualifying do I still pay the $325 a month, which I couldnt find the answer for. I emailed them and so far I havent been answered, though it was before the ;long weekend
You seem to know something about this guy Merrit. what reasons would stop you from participating in his program ? I dont know much about them , except I can use my charts ( unlike E2T and even the new one on here LMI
they do not charge the $325 after you qualify.There pre market and post requirements may not be a fit for me. If they want you to record a pre market analysis. I dont do that, Im a scalper and other than news and I wait on the open I trade a system and they are quick trades
No its not. They are a legit prop firm and have been around since 2005. They only recently added the tryouts.
I sent them my simple approach to pre market. Ill see if its acceptable to them. I dont want to pay and than they dont like my pre market plan. I dont analyze the markets like that..
His education? Because I am not paying that much for something that is free at many other places. The tryout? I thought I found better parameters at OneUp. I actually passed that one, but then promptly blew up, as is the game plan. I am not sure about SMB and all of this stuff they are selling. This does make me a bit put off, as they are really getting aggressive at this point about selling online. I bought the 'premium webinars' package at 29/month, and there is a list of about 40 or so webinars that are old, and interesting - but there is absolutely no reason to stick with it. This is something that makes me wonder how their actual trading business is going. Not the 29 a month obviously, but all of this other stuff. I would LOVE to find a prop situation that was more likely to work out, but in the end they all ask 6 percent return to get funded, in fifteen or more days, and no more than about a 2 percent loss. I am not a statistician, but I suspect there is a lot of math there that works against reason. I know that I can be profitable in FX because I can position size accordingly, don't have to close everything at the end of the day, etc. I don't know man - in a way, the tryout kind of works against their credibility. It sucks, because a lot of us would like the opportunity, but is there really one? I am not sure. This isn't a commentary on SMB in particular, but the 'pay to play' industry.