TradeDay Rules Explained Futures Prop Trading

This video explains the rules of Trade Day, a futures trading prop firm.
Get Your TradeDay Account:
members.tradeday.com/?aff=TD_...
Use code GFT for 20% off evaluations
There are also comparisons to Apex Trader Funding made throughout the video, since Apex is a leading prop firm.
TradeDay has benefits over Apex, and vice versa. This video may help understand which prop firm may be more suitable. Considerations on prop firms include:
- Instruments
- Targets
- Drawdown Rules
- Margin or Lots
- Payout Rules
- Minimum Trading Days
- Account Sizes
- Maximum Accounts Held
Get Your Evaluation Account:
members.tradeday.com/?aff=TD_...
#tradeday #propfirm #futurestrading
Risk Disclosure: www.globalfinancetrading.com/...

[@yardenlapid895]

Great video, but I think you missed something very significant about the EOD trailing drawdown:
It freezes when it reaches the initial account balance!
the example they give is this: if you have a 100,000$ account you are not allowed to go under 97,000$. when your account reaches 103,000, the reailing drawdown freezes for lifetime!
it means if I now have 150.000$ in my account i can loose 50.000$ and still keep my account.

[@globalfinancetrading]

Thanks so much @yardenlapid895 that is a very good point. Once you get over the trailing threshold you're all set!

[@njjjjjjjjhhhs]

good explanation thanks

[@globalfinancetrading]

Thanks so much!

[@maveri.k]

Great video. Thanks. I think they lost their main advantage which was the no activation fee. Now they are the most expensive around and compared to others don't offer any big benefits imo

[@globalfinancetrading]

The Apex discounts do create a big price difference, you are right. The drawdown rule is much better than Apex, and the withdrawals early on are also better. I guess the Apex drawdown rule problem could be mitigated by taking profits at a set figure just like TradeDay requires the 30% rule to be implemented.
Thanks for sharing your thoughts, @maveri.k

[@MrsKartier]

@@globalfinancetrading
I have two Questions. I'm new to futures and have a topstep account but I want to open a Tradeday account. My trading style is intraday/swing. At times I like to trade off the 5 min-15min and sometime I like to hold on for at least 2-3 days.
Will Tradeday give me issues trading and taking my profits within a 30 min Timeframe?
Does any broker allow holding trades overnight?

[@globalfinancetrading]

Unfortunately TradeDay doesn't allow you to hold overnight. Before spending money on a challenge to see if it would work, it is worth testing it on a demo account or small live account of your own to see the results and go in knowing the probably outcomes.
Prop firms like FTMO and Funded Engineer allow trades overnight but these are CFDs and inaccessible to USA clients.
Regular brokers (your own account funded with your own money) allow trades overnight.

[@therationalinvestors]

Stupid question, but what does these minis and micros mean?

[@globalfinancetrading]

When viewing the tick size you will notice that:
Micro contracts are 10 times less than Mini and
Mini contracts are 10 times less than standard contracts.
It refers to the contract size and also tick size of what is being traded. Apex Trader Funding page shows tick sizes for contracts available: tapextraderfunding.com/member/aff/go/tribaner?c=TWXFSWMC

[@RollTide19]

The rules with these props are absurd. I am profitable on my live account but I've never made it past phase 2 of a challenge in forex and never received a payout In futures props. I wish they would ban these scammers.

[@globalfinancetrading]

I'd love the rules to be easier, let's hope the rules continue to ease (like the removal of 30 day limits to pass have been taken away for CFD accounts). If you are profitable, you would know whether your trading is likely to pass the evaluation or not right?
Tracking real trading data on a live account is the best way to know your probability of passing or not.
They pay if you pass and meet the rules outlined. A scam would be if you pass and they don't pay, make up rules after the fact (like Fidelcrest, who denied a passed account which were unlisted on rules or FAQ) or have terrible price feed (like Funded Engineer, who gave me a 100 pip difference in price to FTMO). Otherwise every pass/fail based business would be a scam, but it is based on predetermined requirements that need to be met, such as University, Certificates, Courses and other types of lending. I get the issue of paying up front, but as long as they list the requirements it is important to consider their rules before buying evaluation accounts.