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During live trader prep (and junior trader status), traders are limited to the number of contracts they are allowed to trade. This obviously makes sense as the goal would be to grow the account slowly to start off with and not take on too much risk with any individual trade.
My question though is specific to the 30k combine. From what i've noticed, generally traders who go to live trader prep and junior trader status after passing the 30k, are told by TST that they are limited to trading 1 contract. (please correct me if im mistaken?)
Instead of being limited to 1 contract, can the trader instead specify what their maximum loss per trade will be? For example can they specify that their maximum stop loss for a trade will always be $100 (obviously things like slippage will occasionally happen). What that will allow is for the trader to trade 2 contracts if they wish and if that is what their strategy calls for, as long as their per trade risk is kept to whatever figure they have specified?
The reason I ask is because being limited to 1 contract calls for a massively different trade management strategy than trading multiple contracts. You may have passed the combine using a multi-contract trade management approach, and then go into live trader prep not being able to 'dance with the won that brung yah'. Being allowed to trade 2 contracts yet within the specified maximum risk per trade (as mutaully agreed upon before hand) offers far more flexibility for the same amount of risk.
Diversification is the only free lunch
Last edited by DarkPoolTrading; November 15th, 2013 at 04:59 AM.
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Darkpool- All traders that go directly to the funded level or that go into the Live Trader Preparation are able to discuss this with the scout on their call. Recently we had a $30k Trader get brought up that is able to trade his max size if he so chooses. Some Traders are asked to tighten it up only until they start building their account.
My point is, this is a case by case situation, but what you are proposing makes logical sense IF it is in their trading plan or how they traded in the Combine. This would most likely get approved.
Great question. I hope I answered it well enough for you.
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