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Any long term success stories from funded traders in these get-funded programs?


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Any long term success stories from funded traders in these get-funded programs?

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  #261 (permalink)
 Keab 
London UK
 
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Quick question for any Combine traders out there.
If it costs $200 a month to trade a sim acct, why not just trade micro contracts on your own account using the Combine rules?
If you break them them you can note down your thoughts process for doing so and see if you can learn from it or whether the Combine rules are valid for your trading.
And you also get to trade for very little risk in a live environment where your capital is at stake. No SIM can ever get you prepared for that and it's a vital component of the game.

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  #262 (permalink)
 MarketMage 
Ponte Vedra Beach + FL USA
 
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Keab View Post
Quick question for any Combine traders out there.
If it costs $200 a month to trade a sim acct, why not just trade micro contracts on your own account using the Combine rules?
If you break them them you can note down your thoughts process for doing so and see if you can learn from it or whether the Combine rules are valid for your trading.
And you also get to trade for very little risk in a live environment where your capital is at stake. No SIM can ever get you prepared for that and it's a vital component of the game.

I can only speak for myself, having participated in 2 evals, Earn 2 Trade and TopStep.

I passed both steps on TopStep and and am now funded. In E2T, I attempted to trade at the same time as my TopStep using the E2T supplied web based Finamark (which is horrible), and was not successful, I failed the eval and declined to reset. I do think, having researched very thoroughly 6 or 7 of these NT/rithmic based on-exchange props, that my preferred option right now and all things considered is Earn 2 Trade. TopStep has been great, and their support is stellar, but for someone new having 2 steps to complete really extends the process to funded. I wrote about alot of this in a prior post on this thread.

Anyway, to answer your question from the perspective of someone who has taken multiple props, researched many, and passed at least one to funding, I can say for myself that going prop was the best thing I ever did for my trading, and I am not an affiliate pimping anyone (though I might become one some day).

Why? Because it isnt necessarily the capital - for me, I **had** capital. I had traded futures on and off for nearly 20 years. But all I eventually ever did was lose money. I wasnt capital challenged, I was **discipline** challenged. The props gave me the discipline to follow strict rules and motivation, you dont get that in a sim, and you also dont get it by funding yourself a micro account. As you mentioned, sure in a micro account of your own you can test your strategies in a live setting and still "feel it" if you blow the account, but its a minor loss (as its a small account and you are using micros). In a prop, even though I would recommend that everyone begin with micros depending on what instruments you trade, you very quickly should be looking to move up to minis, and make some serious money. Thats the goal. And its the combination of reaching that worthwhile goal with the satisfaction of passing a test is (for me anyway) a powerful motivator and discipline builder.

So again, I can only speak for myself, and you can look back I had posted a coupe other posts that go into more about the value proposition the props offer from all sides of the equation for various trader levels and circumstances, but I think the NT8/rithmic based props are GREAT. The MT4/MT5/proprietary platform ones like FTMO I would advise anyone to think hard on, and we have discussed that here some too if you look back, its a giant different to stick with an on-exchange prop if you are serious.

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  #263 (permalink)
Howard Roark
Oslo Norway
 
 
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MarketMage View Post
I can only speak for myself, having participated in 2 evals, Earn 2 Trade and TopStep.

I passed both steps on TopStep and and am now funded. In E2T, I attempted to trade at the same time as my TopStep using the E2T supplied web based Finamark (which is horrible), and was not successful, I failed the eval and declined to reset. I do think, having researched very thoroughly 6 or 7 of these NT/rithmic based on-exchange props, that my preferred option right now and all things considered is Earn 2 Trade. TopStep has been great, and their support is stellar, but for someone new having 2 steps to complete really extends the process to funded. I wrote about alot of this in a prior post on this thread.

Anyway, to answer your question from the perspective of someone who has taken multiple props, researched many, and passed at least one to funding, I can say for myself that going prop was the best thing I ever did for my trading, and I am not an affiliate pimping anyone (though I might become one some day).

Why? Because it isnt necessarily the capital - for me, I **had** capital. I had traded futures on and off for nearly 20 years. But all I eventually ever did was lose money. I wasnt capital challenged, I was **discipline** challenged. The props gave me the discipline to follow strict rules and motivation, you dont get that in a sim, and you also dont get it by funding yourself a micro account. As you mentioned, sure in a micro account of your own you can test your strategies in a live setting and still "feel it" if you blow the account, but its a minor loss (as its a small account and you are using micros). In a prop, even though I would recommend that everyone begin with micros depending on what instruments you trade, you very quickly should be looking to move up to minis, and make some serious money. Thats the goal. And its the combination of reaching that worthwhile goal with the satisfaction of passing a test is (for me anyway) a powerful motivator and discipline builder.

So again, I can only speak for myself, and you can look back I had posted a coupe other posts that go into more about the value proposition the props offer from all sides of the equation for various trader levels and circumstances, but I think the NT8/rithmic based props are GREAT. The MT4/MT5/proprietary platform ones like FTMO I would advise anyone to think hard on, and we have discussed that here some too if you look back, its a giant different to stick with an on-exchange prop if you are serious.

Good comment. I think I've said a few times now that I think these programs are a great step between simulator trading and trading your own live account. If I had started with these programs years ago and even paid monthly subscription fees + resets along the way it would still amount to far less than I've lost day trading futures with a live account.

These programs forces discipline and risk management, so it's a great training wheel in that respect.

Curious, though. Now that you're funded with TST. Are you making any serious $$$ or are you still taking it nice and easy on low leverage?

I agree that E2T does seem like the best alternative. Even though I failed my attempt I only have good things to say about them.

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  #264 (permalink)
 MarketMage 
Ponte Vedra Beach + FL USA
 
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Howard Roark View Post
Good comment. I think I've said a few times now that I think these programs are a great step between simulator trading and trading your own live account. If I had started with these programs years ago and even paid monthly subscription fees + resets along the way it would still amount to far less than I've lost day trading futures with a live account.

These programs forces discipline and risk management, so it's a great training wheel in that respect.

Curious, though. Now that you're funded with TST. Are you making any serious $$$ or are you still taking it nice and easy on low leverage?

I agree that E2T does seem like the best alternative. Even though I failed my attempt I only have good things to say about them.

I am in the "Pro" funded account with TopStep, which is basically a step 3, before I can take a withdrawal. My target is $5k, and I hope to reach it soon (I earned $9k twice, in steps 1 and again in step 2), but yes, I have scaled back to micros ever since passing the 1st 2 steps, because one of the many things that the entire process taught me so far (and Im still learning), is that using size that is too large is one of the only reasons traders fail. If you go small, its easy (well, easier) to pass the evals, it just takes a while. So Im in no hurry as I have no costs in Pro (no NT8 fee, no CME data fee, nothing) I can take however long I need to take as I refine various aspects of my methods as I go.

People are in a hurry and they yolo, often not realizing the insanity of their position sizing. I know I didnt. And there is no point to doing that just to pass the evals, because in funded there are NO resets if you blow up, and if using inappropriate size, you WILL. So now I am effectively doing what the poster said a few posts ago, using micros, and I am in an account that I can scale up and withdraw from, but of course I actually funded it myself via sub fees. These training wheels (and thats a good description, I agree) are really mostly illusion, but they help to force traders like me to examine disciplined trading and stick to strict parameters and rules.

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  #265 (permalink)
 Tymbeline 
Leeds UK
 
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MarketMage View Post
using size that is too large is one of the only reasons traders fail.


It looks that way to me, certainly.

I have no experience of any of these try-outs, but have been keeping an eye on the various companies' procedures, terms and conditions, etc., and it seems to me from members' Journals and comments that some participants probably just don't have an edge. But of the ones who do (or who may, or who probably do) there are many who fail through excessive position sizing.

Your comments above must be right. If you have an edge, the thing to do is to take your time and pass slowly rather than take unnecessary risks through being in a hurry. (Especially with drawdowns that trail open equity.)



MarketMage View Post
Im in no hurry as I have no costs in Pro (no NT8 fee, no CME data fee, nothing)


The requirement with E2T to pay data fees while on their "live sim" (in contrast to Tostep, OneUp and some others with equivalent situations) is one of the things I find offputting about them. It's been discussed here fairly exhaustively, and they just seem unwilling to explain why their competitors have got round this (alleged) "CME problem" when they're either unable or unwilling to, themselves.

But I'm an expert at "finding things offputting", admittedly. Maybe I'm not really in their target market. Or not enough to try, for now, anyway. Every time I'm just about ready to try one (mostly out of interest, really) I manage to be put off by something.

All credit and admiration to those who get through them, though.

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  #266 (permalink)
Flash Gordon
Burlington, North, Carolina/USA
 
 
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Tymbeline View Post
It looks that way to me, certainly.

I have no experience of any of these try-outs, but have been keeping an eye on the various companies' procedures, terms and conditions, etc., and it seems to me from members' Journals and comments that some participants probably just don't have an edge. But of the ones who do (or who may, or who probably do) there are many who fail through excessive position sizing.

Your comments above must be right. If you have an edge, the thing to do is to take your time and pass slowly rather than take unnecessary risks through being in a hurry. (Especially with drawdowns that trail open equity.)





The requirement with E2T to pay data fees while on their "live sim" (in contrast to Tostep, OneUp and some others with equivalent situations) is one of the things I find offputting about them. It's been discussed here fairly exhaustively, and they just seem unwilling to explain why their competitors have got round this (alleged) "CME problem" when they're either unable or unwilling to, themselves.

But I'm an expert at "finding things offputting", admittedly. Maybe I'm not really in their target market. Or not enough to try, for now, anyway. Every time I'm just about ready to try one (mostly out of interest, really) I manage to be put off by something.

All credit and admiration to those who get through them, though.

A: If you only use one exchange i.e. CME, there are no data fees on the live sim. There is also NO monthly administration fees in the live sim or the truly funded live account. Compare that to others at $85-$100 month! The CME charges these companies for data even on the sim accounts. By the sound of your reasoning you might want to re-evaluate whether your cut out for trading. These dollar amounts you refer to are a pittance of the long term dollar amounts you will have to deal with.

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  #267 (permalink)
Howard Roark
Oslo Norway
 
 
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phantomtrader View Post
Congrats, Howard. I joined E2T on Wednesday as well. Looks like we're the only two guinea pigs willing to test these programs.
Regards

Hello there, Ma'am! Happy new year!

How are things going with E2T?

I may have said it once before, but I consider myself done with these programs for now and was not tempted to use the nice discount they had going. I'm trading my private account strictly this year.

Best wishes.

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  #268 (permalink)
 bobwest 
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Howard Roark View Post
I may have said it once before, but I consider myself done with these programs for now and was not tempted to use the nice discount they had going. I'm trading my private account strictly this year.

Probably the wisest course.

In your own account, the rules are always and only your rules. The decisions are always yours, and so are the consequences.

Using someone else's rules will only work if they are basically the same as yours, and if you can succeed with them. Otherwise, a person is trying to squeeze themselves into a shoe that is the wrong size.

I'm sure it can work for some. But if it doesn't, change the game.

Good luck in this year.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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