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In my experience it's Glorified sim trading. They have all these little rules that anyone can trip over and boom funded account is over, back to combine.
They say 50k account (5 lots, they make you start with 2 lots and build up) but how much money is really in the account? How much are they investing in the funded traders? My guess is very little. You can trade a Es contract lot for $500 margin, 5 lots is $2500.
I mean don't get me wrong, it's a great business model for them.
That's what I don't get about the attraction of this. There is so much leverage available to the retail trader that it is insane. You don't need somebody else's money to trade. As for learning, you can get a Forex account and trade micro lots until you learn to trade. This keeps your losses small. Record your trades every day on a spreadsheet and you can track any statistics you want. Their rules are just simple math that can be put on your spreadsheet. Trading real money on Forex is better than a simulation.
The following user says Thank You to jodistrict for this post:
If you don't see attraction does it means the is no attraction ?
This year almost 300 live traders have seen attraction in TST and trading other people money.
TST simulation is not ordinary simulation. In regular simulation you can fool around.
In TST sim you have rules to follow. Also you have money as some like to call it skin in the game.
Amount of money you can decide starting as little as $95 per month and up to $375 per month.
From my experience I can tell that failing 10 combines in row is not good feeling.
It like loosing $950
The following 5 users say Thank You to lemons for this post:
For $95, you can get a ton of experience and not loose that much trading micro lots. More importantly, as you improve you start seeing small profits which is good for your self confidence. Trading real money, no matter how small is a valuable experience you can't get with simulation. And the rules are just formulas you can put on your spread sheet. The important thing is to learn how to trade. Once you learn to trade, you trade your own money. The whole point of this is to become your own boss.