Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
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 for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
So, I've had in initial foray into getting funded with Earn2Trade ($50K account). I failed due to the position sizing requirement. I had a three-lot stop order instead of just two. When I set the stop order I had planned on reversing a trade at that level. However, I had cut down my position size earlier from two contracts to one and then forgot to adjust the stop order to reflect that change. Long story short, I failed in my first attempt and need to pay up and try again. Getting my mindset right before giving it another go.
On that note, I have considered going with OneUp Trader as they seem to have slightly higher Daily Loss and Drawdown limits. Will update when I decide. That's all for now.
I was wondering if any fio members tried LeeLoo funding program.
TickSanity mentioned about them in this forum and I haven't heard anything else.
I am just curious if anyone made it through the program and got funded.
Good luck with your thoughts and trading NekkieTrada.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
First attempt at funded trading. Getting close to phase 1 at topstep trader. So far 9 days at $8700 in profits in 150K combine, still more of a follower of couple of twitter accounts for ideas as i polish my own strategy.
You might want to start your own journal, rather than posting in NekkieTrada's journal.
That way if you have any thoughts while polishing your own strategy, you have your own journal thread to ask them in.
The "Trading Journals" section is open to anybody, (the "Elite Trading Journals" require one to have paid for forum membership to either post in or read those sections).
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
So, here's my update. Tried a couple of different ones: OneUp Trader and Earn2Trade. Didn't fare well and bombed out. Reason: I didn't measure up to the required standards.
What I liked about them: Ability to trade full size accounts for a relatively small fee. What I disliked about them:
Too many restrictions trading around news (fair enough except in cases where a med-impact speech needs to finish before you can trade and it is hard to know when the speaker if done with their speech unless you are watching the speech live.)
Their dreaded "trailing drawdown" rules. In volatile markets, if a trader is not quick enough to close their position or lock in profits with trailing stops, they lose the account.
Anyways, it was a good learning experience and I am glad I went through it. Will I try again? Nope.
What am I doing now? I've just funded a tiny account so that I can trade micro-eminis. I will be switching between SIM and live trading as I go. I need to get my act together with scaling in and scaling out.
With the self-quarantine thing going on around the world, now is a good time to get started.
Might update this journal on a weekly basis if there is something of significance to share.
My main focus now is to get risk management right.
Here are the rules I have set for myself:
Rule No. 1: Never risk more than 2% on a single trade idea
Rule No. 2: Max loss per day is 10% of the day's starting balance
Rule No. 3: Stop trading if live account balance has dropped 20% from the day's starting balance. Demo trade until I have fixed bad habits/overcome my weaknesses/learnt something new. On regaining confidence, go back to live trading.
Surprised you didn't go with Topstep Trader, you only have to be flat a minute before and after a few major news events news, and apart from the Crude Oil Inventories or FOMC reports they are all before the US RTH equity markets open ( https://help.futures.topstep.com/hc/en-us/articles/360000140767-What-economic-releases-do-I-need-to-be-flat-for- ).
Your drawdown limit is fixed at the beginning of the day too, or the beginning of the week for the micro account, and doesn't trail your profit up on a good day.
Having said all that though, micros are probably the best way to go, especially with current volatility. Good luck with your account.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
I did consider Topstep and then was dissuaded by the some stating that the two-step process (Combines 1 and 2) makes it that much harder to reach your targets. If I am not mistaken, a trader must hit the profit target twice. Hmmm... with that said, for my style of trading, that drawdown limit would've made a huge difference. I love to let my profits run before beginning to scale down or close the trade. Oh well... for the next 21 days, I am all in with my micro account. At the end of this period, I will report back with my results.
I value your input a lot, @matthew28. Thanks heaps, mate.
