Not for Consitent Profitable Traders "Intraday Drawdown"
First off I am a Proven trader and consistently Make profit Daily, only doing 1 to 2 trades per day... MES or MNQ is all I trade and 75% of the time im done for the day by 730am, to get this way. Yes I put in the hours both in realtime and backtesting via Papertrading for 14 months straight-during this time I recognized some patterns and key #'s that often repeated etc within certain indicators, and with good ole fashioned trial and error I became super consistent. So with that I am not the Normal trader nor someone learning. I too didnt really understand what a Prop firm is/does. I did choose TPT becuase of their marketing on NO B.S. Rules etc. But unfortunately there is 1 horrible rule of the Intraday drawdown.? again did not understand what that term is or meant? cause I only know how to make $ everyday whether its $250 or $1250 when i close my position Im profitable.. now during this time your P&L will go negative periodically of course, thats how the market moves, a main direction with a bunch of pullbacks etc. Some PRO for TPT is the Tradingview inegration via Tradeovate, and the Test is easy. I past the 50k test in 3 days. the problem is when you get that FOR SURE move and put 5 contracts on it, the pullback will surpase the Lame Drawdown limit and your acct automatically disables, so the TPT system isnt for Traders like myself, So ill need to move on to something else. Unfortunately you have to research what is right for you.. I too mis-interpreted what amount of contracts they Front you... I thought it was 5 contracts on the Mini Futures.... turns out it is 60 contracts on the 50k acct.!!! I make like $500 to $1000 a Day off 4 or 5 contracts on MES or MNQ, so just using 25% of the 60 and doing 10 Contracts per Trade had AMAZING earning Potential. but that is completely neutralized by the Intraday Drawdown Rule. So TPT is one of the Propfirms where their End Game, is making $ off Tests, and Acct resets etc. which is their business model, again that might be good for them.... but you dont need to pay too learn how to trade... you can do that with the essential TV acct and and current data acct-- about $26 a month.. to learn how to trade on your own. Is there a Prop Firm that is legit and is indeed looking for exp Traders who consistently make $$$ and most importanlty DOES NOT have a Intraday Drawdown.