Hello, everyone. This message is pretty much for my fellows who look for ways to turn their hobby into a source of income. It may also suit newbies in trading or people who want to polish their strategy and develop the rough drafts. Friends, I wish you’d forgot about trading schools, academies, courses, webinars etc if they require a payment from you. Those don’t educate you, they just provide information. Education, undoubtedly, should be paid, but information should be free in the XXI century. Someone smart said, “Tell me and I forget, teach me and I may remember, involve me and I learn.” - getting involved is the key. So I want to share a method of getting involved in futures trading that I'm currently experiencing myself. A method that does not require risking your own capital for knowledge and skills and is pretty welcoming and affordable. And the good news is if you do well, you may become a professional trader, funded by a third party! This method is called funded trader evaluation, it gets more and more widely spread among beginners, experienced amateurs and pro traders all around the world. It's called funded trader evaluation. There already are several big and a range of smaller companies in this sector, who hunt traders from all over the world to make the best use of their capital on the financial market . In some countries current law will not allow one to enter the US futures market, but with funded trader platforms people who still want to enter can do it without breaking the local law. That’s one of the reasons why professionals also may consider funded trader platforms. The way it works is simple: you start an account with an affordable monthly subscription and get access to (I use Earn2Trade platform, so I'm talking about it particularly) : trading platform (with Earn2Trade - NinjaTrader and Finmark Systems) theory (basics, fundamental and technical analysis and loads of other content) webinars access to automated trade analytics and journaling tools (Journalytix) data feed providers (Rithmic) many more tools. At the same time you receive a virtual capital (the amount depends on the subscription plan you chose), a profit target and a daily loss limit. Naturally, these platforms have some rules and time frames. If you’re not breaking the rules and reaching your profit target (depends on the subscription plan you chose) in time - you have a right to become a funded, licensed trader (for Earn2Trade users the funding is provided by Helios Trading Partners or Appius Trading).
My average profit factor year to date is about 9. I need to be flexible with my drawdown, though I do have a max drawdown of 5K when I get smacked by my trading software, and can't trade for a half hour. The idea that if I hit a drawdown once and everything is finished. No thanks. Anyone who can pay earn2trade can learn to paper trade and fund their own account once they are satisfied.
PS: the reason for my chosen "cool down" drawdown is I want to have an opportunity to make 8-10K a day (which the market is happy to provide for now...) so I like to trade a few contracts at a time. As a result, the funded accounts are piddly and so not interesting. I wonder why these companies don't pursue professional, already successful trader. I think I know why!
They actually changed their drawdown rules like a month or two ago. What was the last time you used E2T?
I think you know the reason ! Hamster wheel of failed Test fees that is why , True props hunt traders at their own costs!
As a beginner, it is important to know how much money one can risk. But starting with one’s own money is important rather than borrowing from someone for trading. This helps to have control over the trading action because when the person is aware of the loss, trade happens wisely.