Post-sim abuse withdrawal

S

SelfMadeDude

I hope this thread could be a collective source of ongoing changes at the funded trader firms.

For those of us who are "involved / funded / currently in evaluation" in the funded trader industry, we all know that the major firms have been rocked hard by withdrawals by the sim-abusers.

What new updated trader rules has your funder implemented?
 
SelfMadeDude said:
For those of us who are "involved / funded / currently in evaluation" in the funded trader industry, we all know that the major firms have been rocked hard by withdrawals by the sim-abusers.

What new updated trader rules has your funder implemented?
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Rocked hard? This is news to me. What happened?
 
I'm guessing it is people who get to the funded level and then take the first $5000 or whatever that you get 100% and leave before the 80/20 kicks in.
I really don't understand why if you can trade profitably you give them money, miss out on a month of trading your own money and then in another couple weeks you take your 100% amount and pay to do it all over again. Presumably in that at least month plus of time you could have made quite a bit more of real money in your own account.
 
tango29 said:
I'm guessing it is people who get to the funded level and then take the first $5000 or whatever that you get 100% and leave before the 80/20 kicks in.
I really don't understand why if you can trade profitably you give them money, miss out on a month of trading your own money and then in another couple weeks you take your 100% amount and pay to do it all over again. Presumably in that at least month plus of time you could have made quite a bit more of real money in your own account.
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That's a profitable trader... they have priced that in.
 
movingaverage said:
That's a profitable trader... they have priced that in.
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Maybe to a point they do, but it doesn't answer why if you area profitable trader you are pissing away money and time on these when you could be making money in your own account. Also, at at least some of them the profit you take is taxed at your personal rate instead of the 60/40 futures treatment.
 
not all firms have the trader “punished for success rule” that takes away the firms funding to the trader’s account trader’s after the trader has generated profits equal to or greater that the beginning drawdown.

It’s a rule like that makes traders withdraw all profits and close acct (they are not “abusers” they are simply traders who have figured out that the firms funding is not ongoing and is bullsh*** ) as the rule clearly shows the funding firm is not in it for the trader’s long term success to continually provide funding to successful traders to receive their cut so it would actually be a ongoing viable option to just trading your own money.

One firm that doesn’t have that idiotic rule is FTMO




tango29 said:
Maybe to a point they do, but it doesn't answer why if you area profitable trader you are pissing away money and time on these when you could be making money in your own account. Also, at at least some of them the profit you take is taxed at your personal rate instead of the 60/40 futures treatment.
More...
 
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