Support Board
Date/Time: Sat, 23 Nov 2024 08:54:37 +0000
Post From: Feedback Requested: Trading Evaluators (Top Step Trader etc.)
| [2020-01-26 12:02:26] |
| User753428 - Posts: 163 |
|
We already have it, we are just making some enhancements.
no, what you have is an alternative simulator service. what funding companies offer is: 1) after passing evaluation in sim environment, guaranteed funding with partner prop firm with no downside risk but profit split (usually 80%/20%) 2) ability to know exactly what account/risk parameters you will have if you pass evaluation and are funded (i.e. max drawdown, daily loss limit, etc.) 3) ability to get funded after a mere 10 or 15 trading days, depending on the funding company. if Sierrachart itself wants to offer an alternative to the services these funding companies offer, it would need to include these 3 components. and trust me, you don't want to actually offer a true alternative because you will quickly find out that most retail traders are not profitable and blow up their accounts. why do you think these funding companies are more focused on imposing ridiculously strict trading rules so that traders continue to remain on the evaluation hamster wheel and pay expensive monthly subscriptions + reset fees? because they know they can't make money off of funding traders since most retail traders lose money. this is also why they all employ that stupid trailing drawdown rule in order to protect their downside. this is why we say that they are selling a "dream" because even the funding companies themselves know, after looking at their own statistics (such as % of people that pass evaluation, % of people that remain profitable in funded account after 1 month, etc.), that the only way to make money in this business is through monthly subscriptions + reset fees, instead of actually funding traders. going with these funding companies used to make more sense for the rare individual trader who was skilled but happened to be undercapitalized. the emini contracts' notional values are huge now and it was certainly a barrier to undercapitalized traders. but now with the micros, skilled uncercapitalized traders can easily build up their account which is why i said the CME has already offered an alternative to these funding companies. |