Latest:
Funded with FTP ~ August 2022
Having been in trading for a while, the goal for me has always been to use other people's money. Not my own. I haven't got a wealthy family to tap, don't look likely to receive a windfall, don't have any rich friends and wouldn't be able to attract a VC to bankroll a gambling habit (yet).
•If you work for a bank or institution, you trade your time for cash and hope to make enough of a wage + bonus to feel like you're doing well. If you fail to meet a target, you're fired.
•If you go up the ranks of a fund, you're asked to buy into the company, it's the same for a lot of corporate career ladders. Especially ones with partners in the title. This means you have to have a big cushion behind you to buy in, or you need to earn it back should they loan it to you. I don't really want to put £100k+ into an FX firm having seen what happens to brokers like Alpari, FXCM etc. during a market disruption like we had when SNB removed the EURCHF peg.
•If you pay money upfront to do a demo, a trial, an assessment or an audition, you're generally not trading other people's money straight away and maybe you never will. But this is the model that is most popular.
But for this journal, I am going to attempt to trade as many firms' money as I can. Just to see if it is possible for one, and to see which gives the best service for retail traders. I have many on my hit list and some which will allow me to trade for them if I show a track record, rather than paying upfront.
So each attempt with a new prop firm/trading company/ will be using the same EA. I will always start at the smallest account.
I have an EA that I have built. It seems to work, which is a good start and for the last month or so I have been trading with one firm in their assessment. I paid for this privilege and I will buy into many more I am sure. I have started with Funded Trading Plus and I am closing in on the 10% needed to start trading "their money". Hence why I am starting this journal. I didn't want to start until I had a chance of getting a win under my belt as there is nothing worse than starting something but not completing it. I need to hit 1,250 profit as the starting balance was 12,500, so just over 200 to go at the time of writing.
The first 3 companies to trade with are,
Funded with FTP ~ August 2022
Having been in trading for a while, the goal for me has always been to use other people's money. Not my own. I haven't got a wealthy family to tap, don't look likely to receive a windfall, don't have any rich friends and wouldn't be able to attract a VC to bankroll a gambling habit (yet).
•If you work for a bank or institution, you trade your time for cash and hope to make enough of a wage + bonus to feel like you're doing well. If you fail to meet a target, you're fired.
•If you go up the ranks of a fund, you're asked to buy into the company, it's the same for a lot of corporate career ladders. Especially ones with partners in the title. This means you have to have a big cushion behind you to buy in, or you need to earn it back should they loan it to you. I don't really want to put £100k+ into an FX firm having seen what happens to brokers like Alpari, FXCM etc. during a market disruption like we had when SNB removed the EURCHF peg.
•If you pay money upfront to do a demo, a trial, an assessment or an audition, you're generally not trading other people's money straight away and maybe you never will. But this is the model that is most popular.
But for this journal, I am going to attempt to trade as many firms' money as I can. Just to see if it is possible for one, and to see which gives the best service for retail traders. I have many on my hit list and some which will allow me to trade for them if I show a track record, rather than paying upfront.
So each attempt with a new prop firm/trading company/ will be using the same EA. I will always start at the smallest account.
I have an EA that I have built. It seems to work, which is a good start and for the last month or so I have been trading with one firm in their assessment. I paid for this privilege and I will buy into many more I am sure. I have started with Funded Trading Plus and I am closing in on the 10% needed to start trading "their money". Hence why I am starting this journal. I didn't want to start until I had a chance of getting a win under my belt as there is nothing worse than starting something but not completing it. I need to hit 1,250 profit as the starting balance was 12,500, so just over 200 to go at the time of writing.
The first 3 companies to trade with are,
- Funded Trading Plus
- City Traders Imperium
- Surge Trader
Others on my list will include but in no particular order, TopStepFX, FTMO, The5%ers, Alphachain Capital, Darwinex, and I am sure plenty of others to come.