I don't have a feeling like playing sim. The market seems to react to my trades even more so than when i play my micro accounts. Maybe they like my style of trading so copy them. Make it hard to actually have the upper hand. I want my trades simulated and have no effect whatsoever.
Trying to Manage these Trading Combines. Anyone else?
- Thread starter legionx
- Start date
These companies make a point when they say this but it makes sense all the people complaining about how long it takes to get a payout how many are currently in a funded account and taking montly withdrawals wishing that they can take out more? For the vast majority of the people complaining they arent at that point these are hypothetical arguments and if you are at that point there are several other firms tick tick trader, uprofit, E2T, Oneup, topstep, takeprofit trader where you cant take unlimited payouts on day 1 (some require you to get to a threshold** this is another barrier most people dont realise) with Apex they have the most sensible threshold rule you can withdraw once you get there most have it where you have to maintain the threshold to withdraw meaning if your threshold is 2,600 with a min withdraw of 1000 you actually need to make 3,600 this is huge ive blown 2 funded accounts focusing on a withdrawal where i was at 3500 trying to make 100 to meet the 1k withdrawal people say this alot but you really cant focus on the money. How many times have you been 100 or 50 from passing and blown your accounts?
The fairest thing to the trader would be payouts on demand. If you make a profit you should be able to withdraw all profits that day and they take their cut, and then you can start the next day with full funding (if it is a company that offers full revolving max loss and daily loss limit funding below the zero line that both are tied to a fixed drawdown--not trailing). The "delay" --in some cases with some companies is only allowing payouts once every 14 days, that way they know most traders even after making sizeable profits are simply not patient enough to stop trading til the next 14 day window has passed and there is a good chance they will lose most or all of profits generated, or blow up their funded account and lose it and if they had no profits left after violating loss limits then no payout even on blown up account that violated loss limits. For the few remaining traders who are disciplined enough to be patient (or skilled enough where they keep making profits every day) then they happily pay them as its all a numbers/statistical probabilities game to them and setting up "landmine" payout delay rules or qualifying payout rules puts the odds heavily in their favor that the trader will do something stupid Versus if they allowed you to withdraw profits generated on demand and be able to withdraw them once every day.
So, I blew my account unfortunately, wish it was not blown but greed and pride have a bigger part to play than any other emotion, not to mention that the company went into a different direction and the major perk of “fixed income” for me, was eliminated. Pride because I was up 1700 dollars in profit with two weeks to go to claim pay out and at that moment, I am thinking trading conservatively is beneath me. There was a time I could have salvage the account, but I went for “it”, you know, the home run in which I was already up in live profits 1k+ but market hit my trendline and like a deer in a headlight the rest was history.
I did receive my pay out, but it was short around 400 dollars. How so? Well, I waited and once I got the new account, since they reset the drawdown once you are in profits at the end of the month, I opened the platform, and I began to trade. My first lost was around 500 dollars. So, I always check the website to see where I am at, after every trade win or lose, and to my surprise it was on the previous account. Yup, the account that I was to get $1004 of 80% profit split.
I immediately created a ticket and explained this to …… because I was in communication with him through the entire process of reaching the profit and what to do next. He said to me to not worry about it and he already took a photo of it which he showed me, and I will get my full refund. How did this mishap happen? The company usually remove the old account so once you open the platform you can start trading with the new account. I am thinking this is done manually once the drawdown has been reset. Was this done deliberately? What if I had made $500 more, would they have honoured it? Remember I traded that account after the end of the month in which I thought it was the new account.
Refund day came and I got an email of how much money I would be receiving, that’s new. Money simply goes to my bank account without any email notification. As soon as I saw the pay-out number, I contacted …… and the bs that he gave me was unbelievable. He told me that I should not be trading an account that is set for pay out. I know I spoke to him several days ago and now this is the take it or leave it answer he gave me?
Their new program is suspect. Twenty-one trading days in order to be funded once all the criteria are met. If you are day trading, would be doable before the next subscription since they cut out the one-time fee but not so much overnighting. As for looking at the calendar, you have to find when a good time to sign up because of holidays can send you over into the next subscription. Almost half a page they took out of Apteros Trading since their deal is into two subscriptions. Would I try them again? I don’t know.
I am in the process of an evaluation which I am giving myself 3 months to pass and daily loss limit of 100 dollars which equates to 20 tokens, drawdown 2k followed by profit target 3k. LivSim is better once pass because of no overhead/fees. Keyword to pass this evaluation: “Survive the week”.
I did receive my pay out, but it was short around 400 dollars. How so? Well, I waited and once I got the new account, since they reset the drawdown once you are in profits at the end of the month, I opened the platform, and I began to trade. My first lost was around 500 dollars. So, I always check the website to see where I am at, after every trade win or lose, and to my surprise it was on the previous account. Yup, the account that I was to get $1004 of 80% profit split.
I immediately created a ticket and explained this to …… because I was in communication with him through the entire process of reaching the profit and what to do next. He said to me to not worry about it and he already took a photo of it which he showed me, and I will get my full refund. How did this mishap happen? The company usually remove the old account so once you open the platform you can start trading with the new account. I am thinking this is done manually once the drawdown has been reset. Was this done deliberately? What if I had made $500 more, would they have honoured it? Remember I traded that account after the end of the month in which I thought it was the new account.
Refund day came and I got an email of how much money I would be receiving, that’s new. Money simply goes to my bank account without any email notification. As soon as I saw the pay-out number, I contacted …… and the bs that he gave me was unbelievable. He told me that I should not be trading an account that is set for pay out. I know I spoke to him several days ago and now this is the take it or leave it answer he gave me?
Their new program is suspect. Twenty-one trading days in order to be funded once all the criteria are met. If you are day trading, would be doable before the next subscription since they cut out the one-time fee but not so much overnighting. As for looking at the calendar, you have to find when a good time to sign up because of holidays can send you over into the next subscription. Almost half a page they took out of Apteros Trading since their deal is into two subscriptions. Would I try them again? I don’t know.
I am in the process of an evaluation which I am giving myself 3 months to pass and daily loss limit of 100 dollars which equates to 20 tokens, drawdown 2k followed by profit target 3k. LivSim is better once pass because of no overhead/fees. Keyword to pass this evaluation: “Survive the week”.
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This is the reason for the delay in payouts and why no funding firm, to my knowledge, offers daily payouts. They know odds are in their favor that with payouts delayed the withdrawals will be less--or that they wont have to payout at all. On the other hand if you did the same trades with your own money then your loss would have been $3,428.50 VS the loss here is how much you spent in challenge fees to get funded account against any payout received--so if that combined amount is less than a loss of $3,428.50 then still better off using this method vs own money. The difference is with own account if you are up $500 1 day you can stop and withdraw the $500 and then next trading day if you have profit withdraw as well--etc - VS-- having to trade for a few more weeks to withdraw anything in this scenario--and how does the ability to withdraw profits daily possibly change your trading decisions VS your trading decisions made when you know you have to either stop trading for weeks to ensure payout or keep trading and risk going into a loss scenario before payout.
At the very least some of these funding firms should offer the ability for a trader to meet (or exceed) certain account profit and trading metrics in their account to then have their account upgraded to qualify to have the ongoing ability to withdraw profits daily VS if you don't qualify then you stay on standard withdraw plan in weeks intervals
At the very least some of these funding firms should offer the ability for a trader to meet (or exceed) certain account profit and trading metrics in their account to then have their account upgraded to qualify to have the ongoing ability to withdraw profits daily VS if you don't qualify then you stay on standard withdraw plan in weeks intervals
I understand your point. I haven't worked in years cuz there is no place that would pay me daily.
100%!
And that's exactly why with Apex and similar you'll have to wait forever to get out your full amount.
Don't take this as an endorsement, but I do think E2T allows for full withdrawals at least on a weekly basis? If not daily?
I know at least one firm to let you withdraw at any time, but you will need to meet certain requirements.
https://myforexfunds.com/vip/
"What are the benefits of being a VIP?
VIP features a number of additional benefits to our loyal traders, including:
• 90% profit split
• The ability to withdraw at any time, with no restrictions (the payout request button will always be active if you are in profit)
• Semi-automated payout confirmations (Money in your Deel account within 10 hours)
Who qualifies to be a VIP?
Traders who have been paid out at least 5 times and have traded with MyForexFunds for a minimum of 3 months are eligible for the VIP program. HOWEVER, if your trading style is considered all in, or high risk, you will not be eligible unless your trading style reverts to a tolerable risk threshold for a 3-month period and of course a trader must not have violated any of our rules up until this point (including copy trading). Traders must have traded normally during all payout periods to be eligible. Traders who attempt to game the system in any way will not be eligible.
https://myforexfunds.com/vip/
"What are the benefits of being a VIP?
VIP features a number of additional benefits to our loyal traders, including:
• 90% profit split
• The ability to withdraw at any time, with no restrictions (the payout request button will always be active if you are in profit)
• Semi-automated payout confirmations (Money in your Deel account within 10 hours)
Who qualifies to be a VIP?
Traders who have been paid out at least 5 times and have traded with MyForexFunds for a minimum of 3 months are eligible for the VIP program. HOWEVER, if your trading style is considered all in, or high risk, you will not be eligible unless your trading style reverts to a tolerable risk threshold for a 3-month period and of course a trader must not have violated any of our rules up until this point (including copy trading). Traders must have traded normally during all payout periods to be eligible. Traders who attempt to game the system in any way will not be eligible.
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In my opinion way too much "gotcha" wide discretion here in their wording as it appears to be they have sole discretion as too what they deem to be "normal" or "tolerable" in their opinion and of course they could change what that means at any time. So--no problem with them creating these rules and having that discretion as to what they feel is normal or tolerable as it is their business and they can run it any way they want but just not a good deal for a trader in my opinion. What would be more acceptable would be hard black and white math rules such as
1) grow your account by at least % per month for at least ____ months
2) have an average RRR of ___ or greater
3) have a profit factor of ____ or greater
4) do not violate rules (kind of obvious as if you break the rules or violate loss threshold your acct is closed anyway)
Do all of the above and you qualify--period, no discretion or other gotcha wording generalizations
Also this particular rule of theirs "Any EA/Robots being used on the account otherwise will cause a breach in contract and loss of account." is completely ridiculous https://myforexfunds.com/accelerated-accounts-rules/ so in my opinion no matter what other positive(s) they may have in their program--the inability to use any EA in your trading is a deal killer in my opinion
1) grow your account by at least % per month for at least ____ months
2) have an average RRR of ___ or greater
3) have a profit factor of ____ or greater
4) do not violate rules (kind of obvious as if you break the rules or violate loss threshold your acct is closed anyway)
Do all of the above and you qualify--period, no discretion or other gotcha wording generalizations
Also this particular rule of theirs "Any EA/Robots being used on the account otherwise will cause a breach in contract and loss of account." is completely ridiculous https://myforexfunds.com/accelerated-accounts-rules/ so in my opinion no matter what other positive(s) they may have in their program--the inability to use any EA in your trading is a deal killer in my opinion