stupidtrader journey to riches

So they want to see your stop?

 

They want to know that you are taking measures to prevent blowing up your account while they have their 90% on the line as your broker. It makes sense, but it’s annoying because if you trade aggressive you can sustain a drawdown when getting in early if you know what you’re doing, and wait for the move to happen. But you don’t even need a drawdown to get stopped out because they don’t want the risk at all.

 

I think it called stop hunting, i don’t like such conditions. Margin call should be enough when your capital exhausted

 

Sometimes you better be stop hunted for a small loss then buy back if the opportunity presents itself than to be liquidated.

 

@stupidtrader, sorry I underestimated your intelligence.

Comparing to trading $5K on your own, $170 per month is $2040 per year and on top of that a 20% haircut for any profits generated? You need to generate >40% annual profit just to breakeven? A steep overhead even for an elite trader.

OK, so they let you leverage but leveraging has its own risk and additional hidden overhead. There is no denying it is expensive.

@Illini Trader, is my computation correct or did I misspoke? Thanks.

 

I read his post as hyperbole, was it not?

 

@stupidtrader or @SimpleMeLike? May be both?

In all fairness, I like @SimpleMeLike. If you step back and think about it, simply practice clicking buy/sell instinctively has its merit: "Zen And The Art Of Trading".

Perhaps day trading is like sexing baby chicks, you simply need lots of practice.

 

Losses are all yours too and the rush of losing real money is not fun.

 

True. Why I day trade sim for a year now and am in no hurry to go live again any time soon.

 

First the cost is not $170 as their monthly sales are right at $100. It is kinda like playing poker, you can go into a live room and lose a lot or you can buy-in for a tournament and only lose your entry fee. Big difference is that you don't have to win the tournament to win, you just have to make $3,000 before you lose $2,000 in their 50K Sim Account. Win and you start trading their money. If you lose every month like in your example then think how much you would have lost if you were trading your your hard earned money.

It is not popular at all on ET and I don't know why but keeping 80% of the profits for taking zero risk with your own money makes a lot of sense to me. Also you have an advantage in that if you are successful you can trade higher levels than you would dare with your own money so in the long run you will make much more working for them.