I have been just passed the combine, and I am doing the LTP.
Why is LTP hard? I dont think LTP is hard, is just simple prooving you can do it again and again and again. But there are some other new rules what you have to follow, which could make it harder ofcourse:
- You are allow to trade only 2 lots till you are not reaching the 1500USD profit, than 3 lots then etc... They are refering it as a scaling plan: Funded Trader: Scaling Plan ? Help & Feedback Center
- Your profit target is less, during your combine, but because of the scaling plan we could say so it is the same (less profit, but you have to build up the account with small size)
- You are not allow to trade the news at all! You have to get out before it, and jump in after it. No news and spike trading at all
- You have to follow your plan every day. No scratch trade, if you are ready in 2 days. Do it again and again and again...
- You have 60 days to complie!
How can you fail? Only in one way. You get lucky to get your combine ready (1 lucky day, 1 lucky swing 1 lucky runner etc...) but building up from small size is more than luck...
Other reasons? I dont think so there could be other reasons. But If I fail, I will let you know a good one
That sucks with the 2 lot rule. My favorite way to trade is to add onto winners sometimes even up to 5 times if there is a straight swing in my direction. That way I can make up for a lot of my losers. I wouldn't be risking anything because I'd get out if the trade came against me to my net b/e. But I know they still see that as potential risk because they don't know me etc. Oh well lol
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Yip, speaking frankly, you really need to tailor your method to even start thinking about to do the combine. Ofc in the begining I was not even profitable, and didnt even had the method. But for big trend swing traders, it is a pain. A real pain, so I can share your feelings.
The good news is that, after you are a senior trader, you dont have to deal with this rules anymore:P
Sorry for the confusion. You can manage your trade as you like! I was speaking about the situation when you have reached your profit level and assume that you have done it in 4 days. After this you have to keep continue trading and not just scratch it in the last 6 days. That was what I meant, and it was asked during my live trader preparation and not in the combine. Hopes it clarifies!
The Live Trading Preparation was successful, I've got founded (details in my journal) @TopstepTrader. Next target is become senior trader (meaning make the first profit target on funded account).
