I wonder if this is all just a means to collect fees from people and supplying nothing more than a free demo account. I don't recall ever hearing of anyone getting hired.
I wonder if this is all just a means to collect fees from people and supplying nothing more than a free demo account. I don't recall ever hearing of anyone getting hired.
Hotch
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EJ got hired and is happy with it.
On pulsar vs topstep, I'd say pulsar seems a lot better for a number of reasons, but the most obvious is that topstep have done their bit on T2W and that's always a bad sign.
if it s not too much trouble, could you plz explain how pulsar is better than topstep?
one thing I liked about topstep is that it lets you start with same parameters as you completed the sim trading. so if I chose and passed with 100,000 account size, 10 max contracts, 2000 daily loss limit > then I can start with these straight away once I passed the course. This, to me, sounds better capitalised (?) and flexible.
I guess there s other reasons that pulsar seems more appropriate. I'm considering to try one of them.
Ryan,
Hotch
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To me, Pulsar seems a lot more up front and honest. From their website, without signing up or anything, you can tell what you need to achieve, how much you'll get funded, when your limits will improve etc.
Topstep seems to just have a load of BS on their website which isn't useful, and so must just be there to sell stuff, and they have this gem about being taken on.
"The recruit did not listen to advice given by the scouts or displays a poor attitude"
Which seems to me that they can just kick you off/not take you whenever they feel like it. Their rubbish about them being "trading scouts" and it being like the NBA is all a load of crap, and so I don't think their too professional.
I've never heard of any firm that will let someone start on ten contracts straight after SIM. Maybe if you had several years experience with records to prove it. Almost anyone can run up a profit on sim, real money is a different matter.
Hi jjopd2001,
Thanks for the sugestion but now it is already too late for that!
Have already registered with Pulsar…
Talking seriously, I hesitated a lot between both, but in the end decided to join Pulsar again based on my past experience (good service, good platform).
Also, although the targets Pulsar demands are hard, TopStep is not easy too (I might be wrong but from what I remembered from their 4 week program you would have to make something like 10% and acceptable loss was in the range of 2%...)
However, and to be honest, I believe that the main thing that made me chose Pulsar instead of TopStep was their simplicity and straightforward program: at Pulsar you know exactly what you have to do in all stages (both in simulation and if you move ahead); at Top Step everything is clear regarding the simulation rules but afterwards a little bit on the “grey area”...
(you do not know to whom you will trade to after the simulation, you do not have specific rules for the live trading, …)
This said, if I miss this chance at Pulsar I will probably give TopStep a try and then will be able to have a more solid opinion about both firms.
any more updates to share?
Hound of Culain
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As it seems, Pulsar has significantly altered the requirements to pass the simulation phase. They increased the profit target, lowered the maximum drawdown but let go of the Sharpe ratio:
"Conditions required to make it through the simulation:
a minimum profit of 4% at the end of the simulation period (based on your Initial Account Value);
a maximum drawdown of 2% during the simulation period;
show trading activity in at least 20 of the 25 trading days;
no positions overnight allowed."
"Conditions required to make it through the simulation:
a minimum profit of 4% at the end of the simulation period (based on your Initial Account Value);
a maximum drawdown of 2% during the simulation period;
show trading activity in at least 20 of the 25 trading days;
no positions overnight allowed."
Hi 123 trading, tks for all your efforts and trials with Pulsar. After all said and done, you seem to be the closest clue to what might happen to anyone who pays Pulsar £300 to trade with them. I was going to register with them too, but I think I will wait for either a man that has conquered and trading live or for Pulsar to defend herself. Does anyone no of companies with similar offers apart from topsteptrader?
standardand
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it seems to be due to tax reasons
neil
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123 Trading
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Hi Babanky,
As I have received a few private messages regarding my past experience with Pulsar, I will try to summarize everything in here.
Last November I missed my last trial with Pulsar (to be honest I did not even manage to finish with a positive performance).
Since then, I have been quite busy due to professional motives and, therefore, did not apply for any other trial with them.
I have read that they changed their guidelines, and therefore, might consider giving it a try in the near future, as I hope to have some free time and believe their new set of rules fits me better (my trading profile is quite volatile and, therefore, would be penalized by their previous Sharpe condition).
Regarding the company and their trading programme, I was quite impressed with them.
I can only talk about trial phase (as you know I never managed to succeed it), however, during that period they were always very straightforward and honest with me.
Do not expect them to come here and say anything about themselves.
I once emailed them about a thread where they were profiled and they could not care less about it. Below is their answer:
"""""
Hi Michael,
Thank you for your email and info provided.
Please understand that we are a company owned and managed by professional traders, where 99% of our income is generated through this activity.
The trading programme we currently run is a way to discover and add traders to our group, so that we can increase our profitability, mainly through the diversification of strategies involved.
If a trader is not confident on his ability to succeed on our simulation, then we strongly advise him to not join our programme, as this will turn out to be a “lose-lose” paradigm (trader will lose his fee and we will lose time and resources).
On the same way, if a trader has any reservations about this company, then we will not take any actions to convince him otherwise, as we do not want any unsatisfied or doubtful trader working with us.
We are aware that from a commercial point of view, this probably would not be the way to act however, and as previously stated, we are traders, not commercials…
Best Regards,
"""""
Hope this is of any help to those sending me private messages.
Apologies for not posting my past experience on the forum before, but have been really busy on the last few months.
As I have received a few private messages regarding my past experience with Pulsar, I will try to summarize everything in here.
Last November I missed my last trial with Pulsar (to be honest I did not even manage to finish with a positive performance).
Since then, I have been quite busy due to professional motives and, therefore, did not apply for any other trial with them.
I have read that they changed their guidelines, and therefore, might consider giving it a try in the near future, as I hope to have some free time and believe their new set of rules fits me better (my trading profile is quite volatile and, therefore, would be penalized by their previous Sharpe condition).
Regarding the company and their trading programme, I was quite impressed with them.
I can only talk about trial phase (as you know I never managed to succeed it), however, during that period they were always very straightforward and honest with me.
Do not expect them to come here and say anything about themselves.
I once emailed them about a thread where they were profiled and they could not care less about it. Below is their answer:
"""""
Hi Michael,
Thank you for your email and info provided.
Please understand that we are a company owned and managed by professional traders, where 99% of our income is generated through this activity.
The trading programme we currently run is a way to discover and add traders to our group, so that we can increase our profitability, mainly through the diversification of strategies involved.
If a trader is not confident on his ability to succeed on our simulation, then we strongly advise him to not join our programme, as this will turn out to be a “lose-lose” paradigm (trader will lose his fee and we will lose time and resources).
On the same way, if a trader has any reservations about this company, then we will not take any actions to convince him otherwise, as we do not want any unsatisfied or doubtful trader working with us.
We are aware that from a commercial point of view, this probably would not be the way to act however, and as previously stated, we are traders, not commercials…
Best Regards,
"""""
Hope this is of any help to those sending me private messages.
Apologies for not posting my past experience on the forum before, but have been really busy on the last few months.
NMO-MMMACE
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I have seen Pulsar around as well. It seems they have gotten a little easier to work with. Their profit/loss objectives are pretty straight forward. I have worked with TST both groups have modified their regulations for traders. Some changes for the better some not so well. I'm looking into Pulsar probably just gonna wind up risking the 300 GBP to see what happens!! Trading is risk anyways:clover:
Blue Point Trading - Proprietary Trading Firm Another cut and paste job same plan, prospective trader pays $299 and is allowed to lose $200 on $1000 live account. Obviously there is risk of slippage for the risk manager. I assume this $200 draw down limit includes commissions at what $4? a rt, of which the 'backer' probably takes at least $1. Does seem to be a good money spinner, especially if set up via a decent clearer rather than a retail broker. Think I might set one up, watch this space.
NMO-MMMACE
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I got done with TST's 50k tryout made the 5k. TST still found some really generic reasons to deny me access to live trading. I netted out in equity indexes, F/X and bond futures. In my opinion TST has too many requirements. Nonetheless I am prepping to get ready to check Pulsar Capital. The $300 Pound Deposit is a little pricey here in the US. Let's all share and see where it goes.
Liquidsnake
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HI there!
have a couple of questions, hope someone can fill me in
1
Does anyone have any insights in what leverage you will use during the simulation phase, if any?
2
Are there no interview process at all? or is it the simulation period, i.e are you hired if you pass your "test", maybe after a small chat about that you need to improve?
3
does this seems legit??
have a couple of questions, hope someone can fill me in
1
Does anyone have any insights in what leverage you will use during the simulation phase, if any?
2
Are there no interview process at all? or is it the simulation period, i.e are you hired if you pass your "test", maybe after a small chat about that you need to improve?
3
does this seems legit??
Last edited:
NMO-MMMACE
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The leverage seems pretty light from what I've made of it basically you're trading 1 lots to start when U go live....the account is at 150k lets say you make 2k over two weeks in theory the account value would be like 232k...150k+2k+80k...it'll let you increase your position size basically most firms let you increase in size after you make money...nothing new hear:clover:
Liquidsnake
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It doesnt make any sence of a split second.... unless i have missed something out completly, lets make an example:
Below you have the figures of 5 days where you gain 1% on your capital a day.
(Day) (Capital) (Cap after PnL) (Added cap upon the days PnL) (End of day cap)
Day 1 150.000 * 1% = 151.500 (1500 profit = 40.000) + 40.000 = 191.500
Day 2 191.500 * 1% = 193.415 (1915 profit = 40.000) + 40.000 = 233.415
Day 3 233.415 * 1% = 235.749,15 (2334 profit = 80.000) + 80.000 = 315.749,15
Day 4 315.749,15 * 1% = 318.906,64 (3157 profit = 120.000) + 120.000 = 438.906.64
Day 5 438.906.64 * 1% = 443.295,70 (4389 profit = 160.000) + 160.000 = 603.295,70
1:1 trading its tricky but with leverage 1:10 its very much possible. Even if it was a time span over 5 weeks there is no way you can raise a 600k capital on 1month demo trading and the return above.
seems very dodgy to me... but please, feel free to change my oppinion and i will kill for the opportunity to work for them heh
Has anybody actually 'passed' the test and been taken on? How do you know these guys arent just taking £300 off you and then after a month telling you that you didnt make it? I mean that would be easy money, and probably somewhat more legal than other forex scams. I mean just think about it, all you do is advertise and then put people on a free demo account, then say sorry youre not good enough and pocket the fees.
Statement of capital filed with Companies House is £100. That's one hundred pounds. So where are all these 150,000 trading accounts coming from?
Company Filing History Include Allotment of Shares
Type Date Description Order
AA 12/06/2012 31/03/12 TOTAL EXEMPTION SMALL
AR01 02/05/2012 26/04/12 FULL LIST
LATEST SOC 02/05/2012 02/05/12 STATEMENT OF CAPITAL;GBP 100
AP01 01/05/2012 DIRECTOR APPOINTED FRANCISCO XAVIER LEITE DE CASTRO
CH01 13/07/2011 DIRECTOR'S CHANGE OF PARTICULARS / MR AFONSO LEITE DE CASTRO / 13/06/2011
CH01 08/06/2011 DIRECTOR'S CHANGE OF PARTICULARS / MR AFONSO LEITE DE CASTRO / 01/01/2011
AR01 08/06/2011 26/04/11 FULL LIST
AA 02/06/2011 31/03/11 TOTAL EXEMPTION SMALL
AA01 15/04/2011 PREVSHO FROM 30/04/2011 TO 31/03/2011
NEWINC 26/04/2010 CERTIFICATE OF INCORPORATION
GENERAL COMPANY DETAILS & STATEMENTS OF;
OFFICERS, CAPITAL & SHAREHOLDINGS, GUARANTEE, COMPLIANCE
MEMORANDUM OF ASSOCIATION
ARTICLES OF ASSOCIATION
Company Filing History Include Allotment of Shares
Type Date Description Order
AA 12/06/2012 31/03/12 TOTAL EXEMPTION SMALL
AR01 02/05/2012 26/04/12 FULL LIST
LATEST SOC 02/05/2012 02/05/12 STATEMENT OF CAPITAL;GBP 100
AP01 01/05/2012 DIRECTOR APPOINTED FRANCISCO XAVIER LEITE DE CASTRO
CH01 13/07/2011 DIRECTOR'S CHANGE OF PARTICULARS / MR AFONSO LEITE DE CASTRO / 13/06/2011
CH01 08/06/2011 DIRECTOR'S CHANGE OF PARTICULARS / MR AFONSO LEITE DE CASTRO / 01/01/2011
AR01 08/06/2011 26/04/11 FULL LIST
AA 02/06/2011 31/03/11 TOTAL EXEMPTION SMALL
AA01 15/04/2011 PREVSHO FROM 30/04/2011 TO 31/03/2011
NEWINC 26/04/2010 CERTIFICATE OF INCORPORATION
GENERAL COMPANY DETAILS & STATEMENTS OF;
OFFICERS, CAPITAL & SHAREHOLDINGS, GUARANTEE, COMPLIANCE
MEMORANDUM OF ASSOCIATION
ARTICLES OF ASSOCIATION
