what are you talking about? You paid 90 real dollars to get a fake dollar account and get all emotional about making or losing fake dollars in a fake account? Sorry, but I am completely lost here...and what you mean with "sucked in"? What sucked you in?
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- Thread starter Earn2Trade
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Emotional how? $90 was very cheap compared to what i lost in options yesterday so I thought why not I am able to meet the target in theory. This is more of a request to them to consider changing this rule to something closer to what Oneup has.
You can't fail because of the consistency rule, you just have to meet it to pass, similar to the profit target. No single trading day should account for more than 30% of your net p/l. The reason the funding firm asked for this rule is that many candidates were hitting a good trade and coasting through. The funding firm wanted to refine the test so that it doesn't just fund candidates for a single trade or one good trading day.
I should also add that the events restrictions rule was removed, as the funding firm indicated this was much less of a concern of theirs. This was a big headache for our candidates and we're really happy we could remove it for them.
I get that but the consistency rule setup as to not wanting 1 day runs but the current rule extends the target PL greatly if you just so happen to have a good day. As in my case where i currently have a 1250 PL for the day and the target was suppose to be 1750. this means i now have to get above 4168 in order to not have the 1 day greater than 30% also note that the max contracts is still 2-3 contracts and a trailing drawdown of 1550. This puts my target PL inbetween a 50k and 100k account without the benefit of increased contracts or the drawdown this makes it alot harder to hit the targets. do you get to keep the extra PL as a trailing drawdown buffer in the live account?
There is no consistency rule in the live account.
You must be new here. This has been the business model of a few firms for 6+ years already.
I typically do a combine when i screw up in my real account it seems to help me at least. I've been "funded" on (3) of the top companies Topstep trader has been the only one where i was able to make profit enough to withdraw.
Anyone signing up for this should understand that you consistency rule means you cant make more than 30% of the target PL ex 25k max PL 525/day. If you do your new target PL will be about 3 * (the largest day) (estimate) putting the odds you dont pass even further in their favor.
It doesn't negatively change the odds at all. If anything, it provides a defined target to candidates so that when they hit a good daily target they should stop and not try to just blow through everything in one day. In fact, it's the exact opposite of what you are saying. So many failures happen from candidates trying to push everything through in a day and then coast through the exam. Many times this happens during the first two or three days of an examination which we imagine is likely done because it is the furthest from the point of rebilling.
This rule was put in place so that this practice stops. It's meant to encourage candidates to trade rationally, and to do their utmost to take their heads out of the "examination mindset". So many failures are attributed to this, and often there are some passes which can be attributed to this as well. The funding firm has given its feedback about this issue and we responded by adding a consistency rule.
Furthermore, we'd like to add that a rule was also REMOVED from the Gauntlet Mini. We noticed that many failures were occurring around the restricted events, but the justification for many of these failures wasn't holding water. It was a big complaint from our candidates and it didn't seem to be a big issue for the funding firm, so we were happy to remove it.
We hope that this clears up our position.