Content
I sought out Trade the Pool after hearing about it on Chat with Traders. I had been recently learning an edge in the market and I wanted to see how well it worked. There was a lot of trial and error along the way and some technical difficulties. I passed the evaluation after 4 tries which isn’t a lot considering I was shorting stocks and I shorted my first stock on my first evaluation. I would say the rules are fair as long as you trade the pool platform learn to play by them. I have a funded account now and received my first payment.The most attractive thing about this whole experience is that I could learn with set risk.
Trade The Pool Accounts Options
Trade The Pool offers a unique funding solution for all types of stock traders, and a partner of some of the most leading companies in the https://www.xcritical.com/ industry. Trader Workstation includes essential features for day traders, such as hot keys, which allow traders to rapidly place preset orders with the stroke of a single key. Traders also have access to Level 2 quotes, which show the best bid and ask prices from each market participant. Time and sales data, sometimes known as “the tape” is also available.
BEST ONLINE BROKER FOR TRADE EXECUTION
Dan Blystone has over a decade of experience in the trading industry. He started as a floor clerk at the Chicago Mercantile Exchange (CME) in the currency futures pits. Then progressed to working as a proprietary trader off the floor trading the bund overnight.
Create your username and password
This is further supported by online communities where traders share success stories with this firm. Robinhood is a commission-free trading platform that offers a user-friendly interface and a wide range of financial instruments. It is perfect for beginners who want to start trading with a small amount of money. The Gold account is suitable for more experienced traders who want access to advanced features such as copy trading and automated trading. General Trade offers trading platforms for multiple asset classes like Stocks and ETFs. The platform can be accessed via local software, web and mobile portals.
Real trading rules and discipline
- This is the end of the participation of a trader in the Program.
- Time and sales data and Level 2 quotes are available for both stocks and options.
- Dan worked with many leading industry experts on creating educational webinars and archiving them on their YouTube channel.
- Copy trading is allowed only between 2 accounts (not more) that are either Mini BP or Super BP.
- Other than that, you can use whatever trading strategy you want.
- As a retail trader, I think Trade The Pool also offers a good trading platform that caters to the needs of traders.
- Founded in 2016, Trade The Pool has garnered attention by building on the reputable legacy of The5ers.com with a team of seasoned active traders at its forefront.
I’m looking into different prop firms and my preference on how I trade is US equities (not futures) given my work schedule and style. You just need to be careful with the volatility, but if you’re like me, those are the best times of the day to trade. Just don’t exceed your maximum safe lot size and manage your trades properly.
My Flash Funding (Best for New Traders)
They offer challenges for a wider range of instruments, including stocks, options, futures, and even crypto. Our investigation demonstrated that Trade The Pool is praised for its high-quality trading platform and exceptional customer service. In fact, feedback on Trustpilot reflects similar positive experiences from traders. Choose from Mini, Super, or Extra Buying Power, each offering a different starting capital amount. You’ll have 45 days to reach a specific profit target while managing risk with a daily drawdown limit. The Basic account is perfect for beginners who want to test out the platform’s features without investing a significant amount of money.
What Symbols Are Available on TTP’s Trading Platform?
A person is marked as a pattern day trader if they trade four or more times in five business days and their day-trading activities are greater than 6% of their trading activity for that same five-day period. The key factors necessary to succeed in day trading are fast, reliable execution of trades and the lowest possible trading commissions. Trade The Pool has collaborated with Trader Sync, allowing new sign-ups to access their program at no cost. Furthermore, members have the option to select one of three tools—Trade-Ideas, TrendSpider, or Bookmap—for free with all evaluation programs except for the Mini Buying Power account.
A funded trader who has been paid
TraderPro offers a decent level of customizable features for trading alerts, news and watch lists. As a direct access broker, customer orders can be routed to over 100 destinations, including exchanges, market makers and dark pools. Orders can be configured and executed efficiently with keyboard shortcut hot keys. Scanners are a key tool that help day traders find volatile stocks or stocks that are near key price levels, and Lightspeed’s scanner, Lightscan, offers unique analytical tools. These include net change (the change from beginning of the period to last price) and H/L (showing whether the stock is currently at the high or low of the period). Another useful feature is Lightspeed’s scanner for block trades, which allows you to track the activity of large traders and institutions by scanning for sizable trades.
To complete KYC, you’ll need to provide scans or photos of valid government-issued IDs like a passport or driver’s license. Trade The Pool generally accepts traders from all over the world. Due to laws and regulations, TTP cannot accept traders from certain countries. I appreciate this feature, as it gives you a taste of the platform before you commit your hard-earned cash. It’s a risk-free opportunity to ensure TTP matches your trading style and needs. All information on 55brokers.com is only published for general information purposes.
Agency brokers have limited proprietary products, which could limit investment options for clients. They include agency brokers or exchange-owned dark pools, broker-dealer-owned dark pools, and electronic market makers. The primary use of a dark pool is allowing institutional investors to trade large blocks of securities anonymously. They represent the ideal stock market because they are truly transparent. The recent HFT controversy has drawn significant regulatory attention to dark pools. Regulators have generally viewed dark pools with suspicion because of their lack of transparency.
Day trading is not profitable for most, as day traders expect to see certain losses and often rack up high fees. However, for the few who are successful, it can be very profitable. A day trader can have a majority of winning trades, but still lose money at the end of the day if their commissions outweigh their profits.
There’s a cap on how much total capital you can manage with Trade The Pool. Once funded, you can grow your account by achieving 10% profit targets. The current CEO of TTP is Michael Katz, a seasoned trader with over 17 years of experience and leads a team of experienced traders to create a rewarding trading environment.
Trade The Pool partner brokers for funded traders are Interactive Brokers and Saxo Bank. However, there is a 14-day free trial available to test the platform before starting a trading challenge. Some proprietary firms also offer free repeats in some circumstances, and also free resets, to be able to reset our account before the challenge period is over, in case things are not going as we wanted.
However, unlike most prop firms, the platform operates a single-phase evaluation model, which means you only need to pass one evaluation step to get funded. The program offers almost unlimited purchasing power, which makes sense since you’re trading a single pool. However, you must be mindful of the maximum daily loss (DL), Risk Per Day (RPD) and max drawdown (DD).
In 2016, Credit Suisse was fined more than $84 million for using its dark pool to trade against its clients. Some have argued that dark pools have a built-in conflict of interest and should be more closely regulated. Dark pools work differently, though, so let’s take a hypothetical look at how this type of trading works. Say ABC Investment Firm sees a good opportunity in Company 123 and decides to buy 20,000 shares in the company.