No Manipulation Rule
Welcome back, traders. In this video, we’re going to go over the no manipulation rule.
We’re in the business of finding and funding good traders. And if you need to cheat just to pass the challenge, then you’re probably not going to be successful long term anyway, so you’re just wasting your time, and Traders With Edge might not be the right firm for you. Well actually, any firm is probably not the right firm for you, because you’re just going to waste your money trying to get challenges, and they’re going to be denied anyway. And then even if you do get onto a funded account, you’re still not going to be able to trade that account properly to be able to be profitable to make a good living from this long term.
So manipulation in our eyes covers a number of different things, but it’s certainly not limited to this list.
So tick scalping, where you’re consistently opening or closing trades in less than a minute. Look, we realize that sometimes trades are opened by accident and then they’re closed. That’s fine. That’s not what we’re looking for. What we’re against is tick scalping where you’re consistently doing this really rapidly and taking advantage of a demo account. On a funded account, we’re copying those trades to live funds. And if this is happening, we can’t copy them across properly, which means we can’t make profit from it, which means we can’t pay the trader. So that’s why we have the tick scalping rule in place.
There’s to be no sort of latency arbitrage used to pass challenge accounts or to trade on live accounts. Once again, we can’t copy the trades across to live funds fast enough for it to be a profitable, fruitful relationship for both of us. So if you’re caught with arbitrage, we will close your account.
Hedging between accounts, so having two accounts and going long and short against them to pass. Look, at the end of the day, you might get through sometimes, but you’re probably going to fail. And if we do find it, we are going to fail you anyway. And you cannot make money long term doing this.
Delay or frozen data feeds cannot be used. Same thing. We can’t make money from it, so how do you expect us to pay you as a long term relationship?
Unrealistic fills that don’t take into account slippage. Look, if you’re using a massive lot size and you’re using all of your leverage on one trade, and then you close it with a small amount of pips, we can’t copy that trade effectively under live market conditions. And so again, how can you expect us to be able to pay you for that? Look, I’m not against using large lot sizes with small stop losses, short targets with a good R to R. We love that sort of trading, but it has to be done in a way that the trades can be copied over. If you’ve got a $50K account and you’re placing 100 lot trade during a news event, it’s very unlikely that we’re going to be able to copy it.
Similar to what I said before, you can’t allow other people to trade your account to pass to your challenge. If you need someone else to pass the challenge for you, then you probably can’t manage the account when it’s on live funds, and you’re not going to make money anyway. So save your money, invest the time in the skills developing yourself as a trader. It might take a little bit longer. And I get it. I’ve been there. I want to get to being a successful trader much faster, but it just doesn’t work that way. You’ve got to put in the time and effort to get good to make a reliable income from this. So you can’t allow other people to trade your account. You can’t copy other people’s trade.
And the last one is lot size manipulation. Some people like to use a gigantic trade, they swing for the fences. It’s basically luck most of the time. They take one gigantic trade to pass a challenge. And then to pass the minimum amount of days they use 0.01 lot or the minimum lot size to try to pass the minimum days. If you do this, we will close your account and you will not get a refund, because it’s clearly in our terms and conditions. It’s not trading. Gambling is not trading. They’re both very different things. And what we want is we want sustainable, reliable traders that we can partner with for the long term. We want to be funding you with multiple million dollar accounts in the future. We really do. And we really want this long term relationship. So that’s why we have these guidelines in place so that we do find the right people.
And sure, we’re not going to get as many people sign up and come through our challenges and our training. And that’s okay, because we really want to focus on the quality people that are doing the right thing and want to do it properly.Recommend0 recommendationsPublished in