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The Trading Pit - Andreas Pilavakis: Head of Customer Support - Ask Me Anything (AMA)


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The Trading Pit - Andreas Pilavakis: Head of Customer Support - Ask Me Anything (AMA)

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  #21 (permalink)
 TheTradingPit  The Trading Pit is an official Site Sponsor
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We are thrilled to announce that weíve partnered with Edge-Clear, an innovative futures broker that offers unparalleled service and market access.

By teaming up with Edge Clear, The Trading Pit will have an upgraded execution in futures and offer unique trading conditions to its customers.

Collaborating with Edge Clear emphasizes our mission to provide innovative solutions for our future clients. This partnership will offer outstanding opportunities for traders, making trading accessible for everyone.

Join us and start building your trading career

Disclosure: Nothing that The Trading Pit shares should be read or construed as constituting advice on the part of The Trading Pit or any of its affiliates, directors, officers, or employees.
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 TheTradingPit  The Trading Pit is an official Site Sponsor
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The Trading Pit Co-Founder Illimar Mattus Inspires 400 Traders in Madrid: Learn from the Best!





Hola amigos! Our co-founder, Illimar Mattus, has become a Spanish-speaking sensation and is not afraid to show it off! He is ready to serenade you with his newfound linguistic skills in espaŮol.

Illimar had the pleasure of meeting 400 incredibly talented traders and investors in the beautiful city of Madrid.

He shared his expertise and insights with fellow traders and investors during the event. Seeing everyone come together to learn and grow as a community was truly inspiring.

Are you looking for opportunities to help you reach your financial goals? Why not join us at The Trading Pit?

And you know what they say about investors - they're always trying to find the next big thing. But don't worry; weíve got you covered! We'll help you navigate the market to find that diamond in the rough - without sifting through a bunch of coal.

°Vamos!

www.TheTradingPit.com

Disclosure: Nothing that The Trading Pit shares should be read or construed as constituting advice on the part of The Trading Pit or any of its affiliates, directors, officers, or employees.
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  #23 (permalink)
Phoenixoboros
Paris France
 
 
Posts: 63 since Feb 2021
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Daily Loss limit doesn't go away and is way too tight when you're deep into profits for my liking.

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 vinchaels 
Fort Worth
 
Experience: Beginner
Platform: NT8
Trading: ES, NQ, MES, MNQ
 
Posts: 13 since Sep 2020
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Phoenixoboros View Post
Daily Loss limit doesn't go away and is way too tight when you're deep into profits for my liking.

I always leave a balance as a cushion so this has never been a concern. What i donít like is the ongoing monthly fees. Elite Trader also does this but Apex and Bulenox donít.

TTP also charges a reset fee if you fail a combine. Apex and Bulenox will automatically reset the beginning of the month. They donít really say that anywhere but they do.

The deal breaker is no multiple accounts or discounts.

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Phoenixoboros
Paris France
 
 
Posts: 63 since Feb 2021
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vinchaels View Post
I always leave a balance as a cushion so this has never been a concern. What i donít like is the ongoing monthly fees. Elite Trader also does this but Apex and Bulenox donít.

TTP also charges a reset fee if you fail a combine. Apex and Bulenox will automatically reset the beginning of the month. They donít really say that anywhere but they do.

The deal breaker is no multiple accounts or discounts.

Wait they don't say anywhere that the Daily Loss Limit ever stops, are you saying that is does?

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 TheTradingPit  The Trading Pit is an official Site Sponsor
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vinchaels View Post
Are you allowed to sign-up for multiple accounts? I was unable to find this anywhere on their website.

Good day Vinchaels,

You are able to sign up for multiple accounts with us. We have traders with multiple accounts in the Live Phase along with even more accounts running in evaluation.
In reply to Phoenixoboros comment below, please note that the reason we cannot offer free Resets at the beginning of each month, is because our model is based on a one time fee, therefore if we cannot afford to give out free Resets as the Futures Exchanges (CME & EUREX) will charge us market data fees at the beginning of each month, along with all other platform licenses and tech services we pay on a monthly basis.
To give a deeper insight, we get charged $57,50 per user each month for the Market data which is billed to us on the 1st of each month (available also on our website). If you were to purchase a Challenge on the last day of the month, then TTP would be charged for two months of market data.
This is why we must charge for Resets and Extensions.

Disclosure: Nothing that The Trading Pit shares should be read or construed as constituting advice on the part of The Trading Pit or any of its affiliates, directors, officers, or employees.
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 TheTradingPit  The Trading Pit is an official Site Sponsor
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kunfuu247 View Post
I didnít see any link where you can sign up for multiple accounts and I read their Q&A but thereís no one such thing like multiple accounts
Please I hope I have answered your question
Thanks and have a great day

Hello Kunfuu247,

On our FAQ page under General - Getting Started you can find a question related to multiple accounts - https://www.thetradingpit.com/faq/how-many-accounts-can-i-open-in-the-trading-pit-2

Hope this was useful.

Disclosure: Nothing that The Trading Pit shares should be read or construed as constituting advice on the part of The Trading Pit or any of its affiliates, directors, officers, or employees.
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 TheTradingPit  The Trading Pit is an official Site Sponsor
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Phoenixoboros View Post
Daily Loss limit doesn't go away and is way too tight when you're deep into profits for my liking.

Thanks for the feedback on this Phoenixoboros! The reason we have our Daily Drawdown in place is clearly to be able to manage our risk. We only ask for 2 things from our traders before we onboard them as partners:
1. Be able to make profits
2. Demonstrate Risk Management skills

During the Evaluation stage, I think it's pretty straight forward why we would like to have a Daily Drawdown in place. For the Scaling Plan (Live Phase) I understand after a certain amount of profit, traders may want to use the profit they made yesterday as a cushion to take on a riskier trade today. We are willing to discuss about special conditions for our traders after they reach Level 4 of our Scaling Plan. That's when we feel confident that our partner trader deserves an investment which is potentially tailored to his needs. This may mean that he requires a higher daily drawdown and we are willing to review his strategy and proceed accordingly.

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 vinchaels 
Fort Worth
 
Experience: Beginner
Platform: NT8
Trading: ES, NQ, MES, MNQ
 
Posts: 13 since Sep 2020
Thanks: 1 given, 8 received


TheTradingPit View Post
Good day Vinchaels,

You are able to sign up for multiple accounts with us. We have traders with multiple accounts in the Live Phase along with even more accounts running in evaluation.
In reply to Phoenixoboros comment below, please note that the reason we cannot offer free Resets at the beginning of each month, is because our model is based on a one time fee, therefore if we cannot afford to give out free Resets as the Futures Exchanges (CME & EUREX) will charge us market data fees at the beginning of each month, along with all other platform licenses and tech services we pay on a monthly basis.
To give a deeper insight, we get charged $57,50 per user each month for the Market data which is billed to us on the 1st of each month (available also on our website). If you were to purchase a Challenge on the last day of the month, then TTP would be charged for two months of market data.
This is why we must charge for Resets and Extensions.

Thanks for the replyÖ i will look over your FAQís again.

I believe i read somewhere on you website that once a person is funded they are considered a professional trader. Is this correct? If so, then i see where the fees are coming from. I believe this is the same as what E2T does.

How do other prop firms get away with not charging the monthly market data fees and only charge a on-time fee? Just curious and trying to better understand how different prop firms operate.

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 Teduardo 
Melbourne, Australia
 
Experience: Beginner
Platform: Sierra Chart
Broker: IB
Trading: Asian RTH instruments
 
Posts: 22 since Aug 2018
Thanks: 14 given, 1 received


Can I assume this webinar will be recorded and posted for later viewing? (asking due to timezone misalignment)


TheTradingPit View Post


Join the well-establish Trader, Paris Orfanidis, as he dives deep into Trading Psychology and its Impact on Trading Performance.

As part of The Trading Pitís free exclusive live webinars, we invite you to attend this online event held by a veteran Trader and expert in Trading psychology, Paris Orfanidis.

On Friday, 21 April, at 5 pm GMT+2, join Paris in this live webinar that will intensely discuss Trading Psychology and how it impacts the Traderís performance and decision-making. The session will cover a wide range of topics, including trading emotions and how to manage them effectively.

Here are some of the main topics that participants can expect from this webinar:

A deep understanding of trading psychology and how emotions impact decision-making.How to recognize and maintain common emotions such as anxiety, obsession, and greed.Practical tips on the importance of discipline, money management, risk management, and other factors that can enhance trading performance.Insights for building an effective trading strategy that focuses on the psychological aspects of trading.

This free live webinar will be an excellent opportunity for anyone interested in sharpening their trading skills and better understanding the emotional factors that impact a traderís decisions. The insights this live webinar shares will equip you with the tools and strategies to manage your trading psychology effectively.

To register for this free webinar, please click here to Register for Free. For more information, do not hesitate at [email protected]

Topic: Trading Psychology and how it affects trading performance.
Where: Online Via Zoom
When: Friday 21 April, 5 pm GMT+2
Language: English

We look forward to your participation in this exclusive free session!

Kind Regards,
The Trading Pit


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