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I'm still on the fence with these programs. I'm still not sure what is the value over trading SIM yourself, sticking to your risk rules, and then over weeks/months storing away money to trade on your own. Out of all the companies, The Gauntlet program does seem the best, has the greatest level of transparency, the second is one up, then TST.
Trade well.
Can you help answer these questions from other members on NexusFi?
I can and have traded smaller accounts and am able to keep emotions in check and proper risk management and obey stops etc. but you can only build a 3 figure account so fast trading CFD's, and who knows how long the offshore "brokers" will be in the game.
The rules and putting money down ($350) can be useful to hold traders "accountable", who need that in the back of their mind "hey it's not just random demo".
Great to see some people making use of this opportunity.
No exchange data fees (free access to 4 exchanges, if you are a professional you get 1 exchange for free).
Once funded the exchange fees will be held from the funds in the trading account so no need to pay exchange fees up front.
They changed the rules after i started my Gauntlet, so i can still trade the Gauntlet with my own rules.
However since i have removed the NQ from my trading instruments i can stay well within their new draw down rules.
Could you try 50% of the allowed draw down? I think they care more about risk management than anything. All the funding threads I've read suggested going for a big account but trading it like a small account, especially when funded. I might give them a run.
What do you mean with "Could you try 50% of the allowed draw down?"
I have a system with good money management rules and i always follow them, i will never move my stop from the initial stop levels.
The NQ was just too volatile recently which caused some large PnL swings.
I took some of the free time today to do some more research.
From now on i will only trade commodity futures, my research shows that these are more consistent in their daily range, less likely to have huge intraday swings/spikes or periods of abnormal volatility like the NQ.
To increase my diversification again i decided to add NG, this way i am back to 3 uncorrelated instruments and by doing so i can still trade when 1 or 2 instruments are in a tight range.
The trading system is exactly the same as from when i started. I have been optimizing my exit strategy however this is only possible from 3 contracts or more, since i am only trading 2 for the moment nothing will change for now.
