attention! tradedfundedplus is a scam!
- Thread starter ineedmoney90
- Start date
you cant figure it out either
Why are you saying that you cannot make money (I presume!) when scalpers are involved?
Meaning, it's easier to be profitable in a market when there is no scalpers?
Yeah when they reach 10% profit on their live account which @ineedmoney90 does not think is reachable obviously. His username is "ineedmoney" LOL. Now I can see why he thinks he's jipped.
What account did you purchase, the experienced, advanced or master account?
Do not really understand the logic of paying a prop firm. What exactly, do they do for you? If you say to evaluate your abilities as a stock trader, you yourself can do so. Now, if the reason is to fund your trading, if you are a good trader, you can trade yourself to make profits to grow your account? The only rational example I can think of is the Turtles program of Richard Dennis. He taught the traders under his Turtle program, how to actually trade and make monies in the stockmarket. They got salaries and a share of the profits from their trading accounts. Unless, the prop firms are teaching you to be a good trader, what are they doing to earn the fees you pay them?
They provide a little bit of leverage, for example with an $150 fee you might get something like $2500 draw down, but they also add some rules which in most cases make it (very) hard to pass the evaluation stage.
My view from reading about similar cases over the years: These firms generally have no interest in people passing the evaluation stage, the business model is to have prospective traders repeatedly pay for evaluations they cannot pass. This is because someone that did pass most likely did so at random and would have random performance out of sample (the problem is similar to testing lots of randomly generated strategies). So a more legitimate business model that wasn't funded by the evaluation fees simply wouldn't work.
Of course genuinely consistently profitable traders exist but I doubt you can do a simplistic black box evaluation to identify them. Moreover, I doubt such traders select this type of service with a nonsense evaluation step.
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And the business model works! The OP is another 'client" who was an easy "fee".