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



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


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one Howard Roark with 94 posts (106 thanks)
    2. looks_two phantomtrader with 34 posts (68 thanks)
    3. looks_3 MR79 with 19 posts (33 thanks)
    4. looks_4 bobwest with 16 posts (49 thanks)
      Best Posters
    1. looks_one bobwest with 3.1 thanks per post
    2. looks_two phantomtrader with 2 thanks per post
    3. looks_3 MR79 with 1.7 thanks per post
    4. looks_4 Howard Roark with 1.1 thanks per post
    1. trending_up 20,694 views
    2. thumb_up 385 thanks given
    3. group 33 followers
    1. forum 235 posts
    2. attach_file 21 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

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

(login for full post details)
  #41 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 303 since Aug 2018
Thanks: 275 given, 293 received


SBtrader82 View Post
Well if the trade does not go to the market can you prove me that I was filled at the correct price? can you prove that I was not stopped out again and again at the best price for the funding firm?
For me if the trade goes to the market I feel I am playing poker (a game in which players are not playing against the casino), but if I the trade stays within the software of the funding company, then I am playing blackjack and I cannot win.
I want the game to be fair.

Would not these concerns of yours apply to the funding phase where you're in simulator as well?

As far as I can tell - the funding company can't influence my fills or quote against me. It's subject to the simulator in Ninjatrader or whatever software is being used. If however the funding company could influence fills or even quotes I would agree it's a big problem.

Reply With Quote
The following 4 users say Thank You to Howard Roark for this post:

Can you help answer these questions
from other members on futures io?
Order Flow Trade Detector Alert Sound
NinjaTrader
Brad Cowan
Trading Reviews and Vendors
DAX UP GAP
Emini and Emicro Index
Unable to choose strategy from chart - NT8
The Elite Circle
Coding first profitable weekly open
Elite EasyLanguage Algorithmic Trading
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
61 thanks
Why dont people trade 150 ES contracts?
37 thanks
How to work on strategy
26 thanks
Any long term success stories from funded traders in the …
26 thanks
How to avoid wiping out the accounts?
18 thanks
 
(login for full post details)
  #42 (permalink)
MichaelFlowTrader
Atlanta
 
 
Posts: 148 since Jan 2017
Thanks: 41 given, 107 received


SBtrader82 View Post
Well if the trade does not go to the market can you prove me that I was filled at the correct price? can you prove that I was not stopped out again and again at the best price for the funding firm?
For me if the trade goes to the market I feel I am playing poker (a game in which players are not playing against the casino), but if I the trade stays within the software of the funding company, then I am playing blackjack and I cannot win.
I want the game to be fair.


I do not think this is something to be worried about, at least not with the major data feeds whose sim places you in queue, and doesn't artificially fill you at bad prices. Sure there are some BAD sims like CTS T4, but rithmic/cqg are very good and you will not have these issues.

Also, these companies do not control where you get filled, they are not market maker/brokers like in Forex.

Reply With Quote
The following 3 users say Thank You to MichaelFlowTrader for this post:
 
(login for full post details)
  #43 (permalink)
 murty 
New York, NY/USA
 
Experience: Master
Platform: MetaTrader
Trading: ES
 
Posts: 7 since Mar 2013
Thanks: 1 given, 6 received


Some of you:
  1. don't mind if the trades actually are traded in the market
  2. don't care if your profit is entirely from trading gain or not
  3. don't mind being in another business as long as you make money
  4. don't care about the laws (if you live in US)

I don't believe in made up concepts like LiveSim (much like alternate fact). It is either Live or Sim. I want to make money honestly, meaning, I want to make money from actual trading entirely, not by selling to CopyTrade subscribers, not from fees paid by other applicants and definitely not from proceeds of any online gambling.

As a trader, I want to be in the business of trading. Not for being part of some counter-trend survey indicator. Yes, I know I can make money online through surveys, affiliate programs etc. I would rather make money selling some systems, indicators or an ebook on how I failed in trading.

Most of these "get funded" programs operate in Forex outside US, against the US securities laws (as well as laws prohibiting Internet gambling); although I know one program operates in Chicago in Futures space.

Why don't aspiring traders join some trading education programs, such as KJ systems, rather than waste money on applying to these "get funded" programs? I am not saying these education programs make you successful, but at least they try hard to justify the outrageous fees they charge. And, if you'd rather make money some how, think carefully if you want to pursue trading in the first place, while some easier options exist.

Reply With Quote
The following user says Thank You to murty for this post:
 
(login for full post details)
  #44 (permalink)
 SodyTexas 
Austin TX
 
Experience: Advanced
Platform: Ninjatrader, Python, & R
Broker: RJO
Trading: Futures, Spreads
 
SodyTexas's Avatar
 
Posts: 396 since Sep 2013
Thanks: 113 given, 1,044 received

I think it would be fun to code and share a profitable trade system just to break these so-called prop shops.

Sody

"The great Traders have always been humbled by the market early on in their careers creating a deep respect for the market. Until one has this respect indelibly engraved in their makeup, the concept of money management and discipline will never be treated seriously."
Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #45 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 303 since Aug 2018
Thanks: 275 given, 293 received


murty View Post
Some of you:
  1. don't mind if the trades actually are traded in the market
  2. don't care if your profit is entirely from trading gain or not
  3. don't mind being in another business as long as you make money
  4. don't care about the laws (if you live in US)

I don't believe in made up concepts like LiveSim (much like alternate fact). It is either Live or Sim. I want to make money honestly, meaning, I want to make money from actual trading entirely, not by selling to CopyTrade subscribers, not from fees paid by other applicants and definitely not from proceeds of any online gambling.

What would your reaction be if your broker told you all your profits were from a simulator? Would you feel your life was over?

These programs are (potentially) a means to an end and an opportunity for a poor, but skilled trader to extract some money out of the market (?) to fund his own account.

I've traded a lot live and some in simulator. Trading in simulator is very similar in liquid markets.

If you have some moral issues about profits being paid by other participants (really the same as traders who donate to you in the market considering the zero sum nature of the market) - then fine. I don't.


murty View Post
As a trader, I want to be in the business of trading. Not for being part of some counter-trend survey indicator. Yes, I know I can make money online through surveys, affiliate programs etc. I would rather make money selling some systems, indicators or an ebook on how I failed in trading.

Most of these "get funded" programs operate in Forex outside US, against the US securities laws (as well as laws prohibiting Internet gambling); although I know one program operates in Chicago in Futures space.

Why don't aspiring traders join some trading education programs, such as KJ systems, rather than waste money on applying to these "get funded" programs? I am not saying these education programs make you successful, but at least they try hard to justify the outrageous fees they charge. And, if you'd rather make money some how, think carefully if you want to pursue trading in the first place, while some easier options exist.

Actually, my impression is that most of these programs operate in futures only. I believe TopStep was the first and it was strictly futures. They now seem to offer FX. E2T and OneUp seems to offer futures only.

Reply With Quote
 
(login for full post details)
  #46 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 303 since Aug 2018
Thanks: 275 given, 293 received


SodyTexas View Post
I think it would be fun to code and share a profitable trade system just to break these so-called prop shops.

Sody

Break them? How so?

I would assume most companies put you on a live account eventually. As I understand it - those who utilize a sim account only does it initially.

But if some firm truly have you on sim indefinitely, I wonder how they'd deal with someone racking up some serious profits very quickly. After all, it can happen just by sheer luck.

Reply With Quote
 
(login for full post details)
  #47 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 303 since Aug 2018
Thanks: 275 given, 293 received

Since we're being a bit nostalgic here and mentioning TopStep being the first company - their initial Combines were actually quite bad. Very unrealistic parameters and a fixed time schedule for reaching your target.
In other words - pretty much set up to have the would-be-trader fail and generate income from subscription fees.

These days I'd say the overall programs are fairly realistic as long as the trader is disciplined, patient and conservative on the leverage. If it's a good idea cost wise is more uncertain.

For me at the moment I consider it an option priced @ $350 to give me $5K in margin assuming I pass. As I don't want to trade my own live account right now it's not a bad bet for me personally.

Reply With Quote
The following user says Thank You to Howard Roark for this post:
 
(login for full post details)
  #48 (permalink)
 murty 
New York, NY/USA
 
Experience: Master
Platform: MetaTrader
Trading: ES
 
Posts: 7 since Mar 2013
Thanks: 1 given, 6 received

I don't get involved with Ponzi schemes, Online gambling, Wire fraud, HYIP (High Investment Yield Programs) and PoS (Proof of Stake) schemes. I am sure that even thieves and Identity scammers use the same justification that it is a zero sum game.

These are not my moral issues, just that I do not directly or indirectly torment another soul. I love discounts, promotions and deals but I don't expect handouts. Stealing someone's labor is wrong. You have to get a better understanding of markets and trading to realize that legitimate law abiding trading is not online gambling and it is not stealing someone's money.

Trading is an ancient business. Traders in the old days used to fill up a wooden cart with veggies (or even plant vegggie trees on them), roam around the villages, exploit arbitrage, and gain or lose to other traders with faster, bigger carts. P&L from normal business is okay; from cartels, it is not.

Of course, these are all my opinions.


Howard Roark View Post

If you have some moral issues about profits being paid by other participants (really the same as traders who donate to you in the market considering the zero sum nature of the market) - then fine. I don't.


Reply With Quote
The following user says Thank You to murty for this post:
 
(login for full post details)
  #49 (permalink)
 murty 
New York, NY/USA
 
Experience: Master
Platform: MetaTrader
Trading: ES
 
Posts: 7 since Mar 2013
Thanks: 1 given, 6 received

It is very common for profitable trading systems to become popular and ultimately lose edge. Prop shops and other players will adapt, i.e., move on to other systems. Those that "break," as you put it, do so because they're unable to adapt. On this site alone, you will find many good resources in Elite section.

What would be more fun is this: Let us build a Humanoid that earns its own living from online trading.


SodyTexas View Post
I think it would be fun to code and share a profitable trade system just to break these so-called prop shops.

Sody


Reply With Quote
 
(login for full post details)
  #50 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 303 since Aug 2018
Thanks: 275 given, 293 received



murty View Post
I don't get involved with Ponzi schemes, Online gambling, Wire fraud, HYIP (High Investment Yield Programs) and PoS (Proof of Stake) schemes. I am sure that even thieves and Identity scammers use the same justification that it is a zero sum game.

These are not my moral issues, just that I do not directly or indirectly torment another soul. I love discounts, promotions and deals but I don't expect handouts. Stealing someone's labor is wrong. You have to get a better understanding of markets and trading to realize that legitimate law abiding trading is not online gambling and it is not stealing someone's money.

Trading is an ancient business. Traders in the old days used to fill up a wooden cart with veggies (or even plant vegggie trees on them), roam around the villages, exploit arbitrage, and gain or lose to other traders with faster, bigger carts. P&L from normal business is okay; from cartels, it is not.

Of course, these are all my opinions.

Well, I do respect your opinion and stance on the subject, although I do not think it's quite accurate. It's definitely not a ponzi scheme, nor is it a fraud as far as I can tell. This relates to the commonly known programs among where a few are sponsors on this site. It's possible that there are outright scams, but they are not subject of this discussion.

If you don't want to indirectly torment another soul as you put it I do not think you should participate in zero sum games either.

I've endured very painful losses which was profits in another trader's pocket. Likewise, when I've made substantial profits they was substantial losses in another trader's pocket. If you're a consistently profitable trader you're effectively taking money out of the other participant's pockets and for many of these traders it would actually be tormenting.

If you sign up for one of these get funded programs and assuming you made sure to understand what it is before doing so - I don't see why anyone would have any complaints with regards to what their subscription fees are used for.

IMHO.

Reply With Quote
The following user says Thank You to Howard Roark for this post:


futures io Trading Community Trading Reviews and Vendors > Any long term success stories from funded traders in these get-funded programs?


Last Updated on December 5, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts