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SMB Futures Tryout
- Thread starter PromisingTrader
- Start date
A lot of the issues I had in the past was, I didnt want to pay the monthly more than a month, so I would push extra hard.
YES. And that is how they get you. The reality is that getting 6 percent in a month isn't impossible, but what it does get you used to trading aggressively. When you think about it, trading for say.....3 or 4 months, spending about 1200 to be funded isn't the worst proposition, assuming you make it through.
Good luck remembering that when you are being whipsawed all day by Twitter comments.
Such is the world we live in.
His education? Because I am not paying that much for something that is free at many other places.
The tryout? I thought I found better parameters at OneUp. I actually passed that one, but then promptly blew up, as is the game plan. I am not sure about SMB and all of this stuff they are selling. This does make me a bit put off, as they are really getting aggressive at this point about selling online.
I bought the 'premium webinars' package at 29/month, and there is a list of about 40 or so webinars that are old, and interesting - but there is absolutely no reason to stick with it. This is something that makes me wonder how their actual trading business is going. Not the 29 a month obviously, but all of this other stuff.
I would LOVE to find a prop situation that was more likely to work out, but in the end they all ask 6 percent return to get funded, in fifteen or more days, and no more than about a 2 percent loss. I am not a statistician, but I suspect there is a lot of math there that works against reason. I know that I can be profitable in FX because I can position size accordingly, don't have to close everything at the end of the day, etc. I don't know man - in a way, the tryout kind of works against their credibility.
It sucks, because a lot of us would like the opportunity, but is there really one? I am not sure. This isn't a commentary on SMB in particular, but the 'pay to play' industry.
I subscribed LMI package.
They don't require you to make 6% in a limited time.
If you can't reach 6%, you can extend your subscription to next month,by paying another subscription fee. So as long as you don't break their rules, you can continue till you reach that target.
I subscribed LMI package.
They don't require you to make 6% in a limited time.
If you can't reach 6%, you can extend your subscription to next month,by paying another subscription fee. So as long as you don't break their rules, you can continue till you reach that target.
That's true with all of them. There is no difference. They understand that someone that doesn't have 150k to trade on their own aren't looking to spend several months at 350 USD....Over the longer-term, you could do it on a little over a grand pretty easily I think - and that takes something most traders don't have: discipline.
Beyond that, these programs all have the a trailing draw down that you must keep above. This means that you will also have several months of trading without actually getting paid. Its a great scheme to be honest. Maybe I should sell a demo account to people.
And unless you want to use VolFix, LMI is fine. However, that platform is janky.
I only use VolFix to enter trades.
I have my own trading platform on which I generate my signals.
So no problem on this respect. And it is actually better because you don't need to pay any fee if you only use VolFix to make trades.
LMI is also better than oneup in that they don't require that your most profitable day doesn't exceed sum of other 3 profitable days.
I have my own trading platform on which I generate my signals.
So no problem on this respect. And it is actually better because you don't need to pay any fee if you only use VolFix to make trades.
LMI is also better than oneup in that they don't require that your most profitable day doesn't exceed sum of other 3 profitable days.
I've never tried out for SMB Futures, but I was a subscriber to their Slack room for a time to get a feel for the atmosphere while considering it. Now we all know as traders, there's a million and one ways to skin a cat, but my perceived take away from Merritt's comments and the sentiment of others was "trade our way or shut the hell up".
Forget not, when you go prop, you go pro (data fees). So unless you're committed to one exchange, monthly fees can add up into multi-hundreds.
Forget not, when you go prop, you go pro (data fees). So unless you're committed to one exchange, monthly fees can add up into multi-hundreds.
S
silversniper
It is basically a try out after which you are backed with $1500 of risk capital (They give you a max drawdown of $3000 and take 50% out of this venture). From there, risk capital increases as you make more profit.. so they are "backing" you with money that you have made.
I'm sorry but for a skilled trader who can prove they are consistently profitable, they can easily stump this up themselves.This isn't real backing. The only other angle I can see is the logistical and mentoring support you would get but as has been mentioned in this thread - they seem eager to push their "holy grail" course onto you.
I'm sorry but for a skilled trader who can prove they are consistently profitable, they can easily stump this up themselves.This isn't real backing. The only other angle I can see is the logistical and mentoring support you would get but as has been mentioned in this thread - they seem eager to push their "holy grail" course onto you.
It is basically a try out after which you are backed with $1500 of risk capital (They give you a max drawdown of $3000 and take 50% out of this venture). From there, risk capital increases as you make more profit.. so they are "backing" you with money that you have made.
I'm sorry but for a skilled trader who can prove they are consistently profitable, they can easily stump this up themselves.This isn't real backing. The only other angle I can see is the logistical and mentoring support you would get but as has been mentioned in this thread - they seem eager to push their "holy grail" course onto you.
From what I understand, you do not partake in the $3,000 loss? And there is no trailing max drawdown as in other similar programs.
Yes I would be interested in joining a company with successful traders living from day-trading, that is why I am looking at them. 50% profit split seems high though as it is probably standard ratio for firms providing you actual seat on their trading floor with all the benefits of it.
Never really thought about trading on my own but I guess it is easier to get size at a prop company and you have lower transaction costs.