As someone with more than a little experience in various sides of this topic, that's all sensible advice. Here's what I see from the outside looking in... An entity has set up some form of nil-risk screening process to discover individual traders suitable for working with OPM in whatever fashion. A modest deposit is charged in part as some sort of prequalify filter. Can you imagine the pandemonium created if the entrance offer was free? A jillion people would sign up daily to try their unqualified shot at the roulette wheel. The list of minimum qualifications seems well thought-out to identify who can successfully trade thru various market scenarios. An emphasis is placed on upwards progressive equity curve and risk control. That is industry standard... nobody wants gunslingers who wrack equity curves all over the place like ocean swells in a hurricane. For those who meet criteria and pass acceptance, the opportunity to profit-share from 5 to 15 futures contracts at onset with greater size negotiable once proven successful is plenty of leverage for individuals. The potential to increase profit share from a minimum of 60% upwards to 80% once proven is likewise generous enough. Trade turn costs are reasonable for the style of traders sought. All this with ability to work from home. ** On the user side, what's the risk? Initial entry fee / deposit of $175 to $400 depending on how much capital is sought? Most guys here piss more than that away on lost trades in a single day or morning. Difference is, they think they have a gambler's chance to make money thru their losing-trades process. The entry fee - deposit does not give potential for instant lotto returns. Worst-case scenario is a trader jumps thru all the necessary hoops, gets funded, earns a bundle and the company folds wiithout paying one dime. How bad a deal is that? Literally thousands of MFGlobal and PFG victims can only wish their loss experience was merely that. I don't happen to see any better offers out there, myself. If this one seems to have warts or flaws, maybe it ain't perfect in everyone's eyes. But what else out there is better? Hey... I'll gladly accept the chance for $50,000 or more to work with as additional free capital and progress upwards from there. $150,000 in the futures world = $1mil buying power (or more) in the stock world. With no risk to the trader. How many MFG and PFG victims out there wish they had this same deal instead? Worst-case, my style doesn't translate to the risk parameters and no harm done. Best case? More than enough capital over time when proven successful to work with.
Hey Michael, I have a suggestion. I think this could be fun (and violent). I know you talked about setting up an ET combine on a larger scale. Why not set up a tournament of sort with a buy in by the trader. The winner gets a cash prize. You guys can take a cut out of the pot. It would be a good way for guys to familiarize themselves with the software and have some fun to boot. I think that thread would be rocking (trash talk, etc) but it would be a lot of fun. Also the winner could get something out of it. Is this viable?
austinp! Bro, c'mon. This is the 18th hole on the last day of the Ryder Cup and you're the sole US defender. wtf, you're lurking as I see you on my buddy list. Where's the net liq?
Risk, instead of finishing up +$2,500 in CL and $2,500 in ZS, I ended in a draw. No fault of the software or the market, not a matter of market confusion. Just 90% T4 execution errors on my part. I've been using NinjaTrader since 2005, and that platform logic is now instinctive. Since yesterday I've added the T4 dome alongside NT domes which of course have different executions logic to trade thru side by side. In today's fast CL market, I started out short from 91.20 early on and booted half the successive execution orders thru my own fault... no indictment of T4 platform. Just a matter of unfamiliarity on my part along with some rather violent downside breaks thru signal setups in CL. The NT dome takes no thought on my part to execute... just click market or limit orders, auto-stops are programmed in, cancel and adjust with simple clicks, dump all positions with a single click. The T4 dome requires extra steps and thought on my part. I'm going to finish this round with it and work with oco orders to simplify stops and management, etc. But if and when I make it to Phase III, I'd really prefer to use NT for live action. ** Part of my personal approach is to split orders and probe in. If working a 5-lot I might enter 2 and 3 or 1,2 and 2 contracts. With each single entry considered a "trade" I might very well finish with a 20% win rate but $1,000s in the black at end. That comes from small distance losses on the first partials, followed by a big win on the full boat. But when counting each individual entry "trade" as a win or loss, it is different. So my biggest concern is not finishing net-profitable... it is being profitable with acceptable manner of 45% correct or greater overall. But today I mixed lack of familiarity with the platform and fast-market CL conditions. I believe the outcome would have been much different using NT, but that's neither here nor there. Eight more days to go, following tonight's further study course in T4 app logic
Austin, you can customize your combine to remove the avg winner criteria. Whatever your style is, you can change the numbers to fit your style of trading. Yeah, the platform takes a lot of getting use to. Some guys are getting their limbs blown off in the middle east, we just have to get use to a different execution platform. Not the end of the world all things considered.
are you shi77ing me? all it says on that link is $1.25 per side plus exchange fees. that is pretty vague, have you any idea how much exchange fees can vary? for a cme member on maximum volume rebate the exchange fees are 19c a side. coming from you, someone who failed the combine (that's no biggie) but didnt even read the rules, come on man that's lame, that's plain lazy. you pull me up for asking what the exchange fees are but you dont even read the rules of the combine then fail it day1. fook me I am shocked.
bwah ha ha, I am genuinely interested in getting funded as I have never been funded in futures before.