Day Trading Opportunities for Expats

[Medic Mike]

12 minutes ago, Larry45 said:

Medic Mike, did they not set your account to balance at zero for the FTP and after you were funded?  Seems weird your max draw down balance was 48,112...maybe an oversight?  It should have balanced at zero after 10 days of trading or your first withdrawal.  

But, I can say from first hand experience that the company Mike mentioned is legit, as I completed their requirements and was funded several months ago.  It didn't work out for me, as the oversight, constraints and compliance was distracting, and frankly, it was much more stressful trading other people's money than I thought it would be.  It's a solid company that can work for certain people, but they make most of their money from the failed combine attempts.  But it's a win/win as the trader only loses $100 or so , instead of several thousands.  Anyways, good luck to Medic Mike...I'm back to trading my own account and managed to learn a little along the way :)     

Thanks Larry, you are totally correct. Was an oversight on my part. I must admit, I traded better trading others money, I guess because I was no longer trading "scared money" as I use to do with my personal account. On account the worse thing that can happen is that I blow up the funded account, "which is not my money anyways", and then get sent back to the combine again to start again.

My biggest hurdle was finding the right size combine vs money management that was a good fit for me.

So far so good :)

 

[Larry45]

Mike, I did the $10,000 combine as the rules for scaling up funded accounts are very conservative and you start off with 1-2 contracts anyways.  One of the things that was a distraction for me was the mandatory chat room and the monitoring of all your trading stats.  I would concern myself with those, instead of getting out when I should.  Like trying to make a small loser instead of a small winner, when the trade goes bad.  Anyways, good luck to you.  It's definitely a good opportunity for the right person.   

[Medic Mike]

2 hours ago, Larry45 said:

Mike, I did the $10,000 combine as the rules for scaling up funded accounts are very conservative and you start off with 1-2 contracts anyways.  One of the things that was a distraction for me was the mandatory chat room and the monitoring of all your trading stats.  I would concern myself with those, instead of getting out when I should.  Like trying to make a small loser instead of a small winner, when the trade goes bad.  Anyways, good luck to you.  It's definitely a good opportunity for the right person.   

I tried the 30K to 150K combines...turned out that the 50K was best fit for me in regards how I fade in and out of trades as the large players enter and exit.

[Larry45]

Good stuff, Mike.  Same as you, I'm trying to ramp it up a little bit.  Wife doesn't tell me but I'm sure she is tired of living like a queen on $1000 a month.  lol .  I'm just a piker, living the life....hehe   

[Medic Mike]

I am hoping that my winning streak keeps going :)

[Medic Mike]

16 hours ago, Larry45 said:

Good stuff, Mike.  Same as you, I'm trying to ramp it up a little bit.  Wife doesn't tell me but I'm sure she is tired of living like a queen on $1000 a month.  lol .  I'm just a piker, living the life....hehe   

Larry what I really would like to do is give the $150K combine a real shot. If I was successful on that one, I think I would retire early to Cebu :).

[Larry45]

That's where they suck us in, Mike.  Check out the scaling rules and you will see that even with that big account, you will still be trading 2 lots, initially....and with the max draw down allowed you will be over-leveraged even with that.  I trade the ES like you, and the time zone is an issue also. Asian and Europe open are both market movers during the day here, but it's hard to stay awake past midnight for me, unless there is a party involved..haha.  12 hour time difference now between Philippines and NY.  If you're profitable, just get on a plane and come.  I came with less than $10000 US and have managed well for 5 years with 100% of my income being trading profits.  Damn stressful sometimes, but better than the alternative. :) 

[Medic Mike]

The 10K combine is the one I have not given a real shot, I guess because my own account is that much, so it did not seem much point trying that one :)...however using the money management rules they have in place, has made me a better trader for my own 10K account :).