No not MES. There is now a Forex funding firm. http://top50fx-traderfunder.com/
Similar to the others without the stringent rules.
Topsteptrader
- Thread starter deaddog
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No not MES. There is now a Forex funding firm. http://top50fx-traderfunder.com/
Similar to the others without the stringent rules.
Yeah quite interesting thing. They have changed the prices. Also have better conditions like you can trade any instrument after the qualification no matter what you have used during it. No mounthly fees and only one step to get the capital... But they new...
This new firm says they back CFDs, well nobody needs backing using CFDs they are so cheap. Actually, non-Americans are better off practicing with CFDs instead of doing the combine, after all they can actually scale up with real money in that account. One can start an account with $100, that is less than the cheapest combine now.
Q. How much can I lose.?
A. The most you can lose is the $350 qualification trial fee.
Q. How much can I lose.?
A. The most you can lose is the $350 qualification trial fee.
Good observation regarding the price changes. They also say the rules in the funded account are the same as the trial, which at least keeps it simple. The "trading statistics" feature for traders who get funded looks quite interesting. Unfortunately, the link is completely in Russian.
I think simplicity is key, which will attract more traders to the model. However, the "starting balances" are obviously not a representation of REAL equity, since the maximum allowable drawdown is the REAL amount you are allowed to lose as you build the live account. Of course, in addition to the fee to join the trial.
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Russian.????? I see no Russian.???
Right, competition or as you describe, "alternatives", is a good thing. This is like the ride sharing business. The more players like Uber, the better for consumers. It's also the same as earning points with credit cards or mileage with the major airlines. They will compete and tweak their respective models to outdo the other.
At the end of the day, what matters is how to actually make money once you pass the thing, lol!
The math of the actual daily risk is the underlying metric. If you're allowed to lose $3,000 maximum trailing drawdown in the "100k" account (whatever the firm, since the metrics are virtually the same), then what is the daily risk as a percentage of THAT number?
So if you're going to trade 1 lot of crude, and you cap the daily risk at 20%, then you can risk 60 ticks as you go through the trial, since 20% of $3k is $600. This means you have a maximum of five consecutive losing days before you "blow up" the account. If you're trading 2 lots, then you can only risk 30 ticks. If 3 lots, then the risk is 20 ticks, etc.
Forget about the "1% to 3%" daily risk metric, that is IRRELEVANT. As Pekelo correctly stated, you cannot measure risk based on an imaginary number. The "simulated funds" of the trial are IMAGINARY NUMBERS, and therefore your measure of risk has to be based on the maximum allowable draw on a trailing basis, provided that draw does not exceed the daily allowable draw.
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Here's the original link, which describes the "Trading Statistics" feature:
https://proptraders.biz/
When you click the feature, it forwards to this link (in Russian).
http://marketstat.ru/
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I seriously doubt you can have a $2000 DD allowance with a $100 account. Lol
How many lots do you think you can trade with a $100 account.?
Money makes money. Peanuts make peanuts.
Thanks. Never seen that before.
What has it to do with the new site under discussion.?
oops just re-read what you wrote. Cheers
You just asked and answered the magic question! Yes, "money makes money" and that is also why the "Maximum Lot Size" in any of the trail accounts is IRRELEVANT. It has to be measured as a factor of the percentage of risk you are allowed on a maximum trailing basis, not to exceed the daily allowable draw (see post above). So a "15 lots" account is meaningless if you have $100 in it, or even $500 in it, lol!
If you want to measure how the FIRMS THEMSELVES COMPUTE THE DAILY MAXIMUM RISK as a percentage, then use $10,000 per ONE lot as a guide for trading futures, since that is what TST and its competitors are using.