The above is a backtest using the data from Surge Trader and the latest version of the EA set to 0.2% per entry.
The biggest take away is that EURUSD is and hasn't been an easy pair to trade these last 12 months.
This trade is with Surge Trader. When trading with this firm you have to place a stop loss at the same time as the entry, so it favours limit and other pending orders.
I had a buy limit placed around 12175 and got filled. Usually I would wait another 30 mins before putting on a trade but this looked too obvious not to.
- #24
- Edited 3:08pm Sep 9, 2022 2:34pm | Edited 3:08pm
The latest update
Over the last few weeks, I had been in contact with Samuel & Co Trading LTD , as they advertised for remote traders. Founded by Samuel Leach with little more than a student loan and laptop, this firm has become a well-known and well-documented place where traders can learn the basics and earn their way to relatively large trading accounts.
The initial response after sending in a CV was a telephone screening call with their "Trader & Headhunter" Liam Sharvell. I didn't come across as a complete psycho and he put me forward for a virtual meeting with their "Head Trader" Raj Singh.
On both occasions I was asked about my background and motivation for wanting to work with Samuel & Co. and whether I knew anything about the company and what they fundamentally did. My C.V. currently details my previous role which was providing a financial markets-based website with both written and video analysis. This was flagged as a potential conflict of interest in the 1st interview, to which I explained that I was no longer providing analysis to that company and made sure I gave a decent reason why I wouldn't be doing so in the future.
Throughout the conversation with Raj, I tried not to sound like I thought I knew everything, because I am self-aware enough to know that I don't know everything and that my past had led me to this point where I solely wanted to earn my daily bread actually trading, rather than helping brokers with their educational content.
Based on the feedback I received today, I conducted myself well in my interview. I was not selected as a trader based on the potential conflict of interest stated in interview #1. In my opinion, there is no conflict of interest. As part of my work with a firm, I put my name and face on some written analyses as well as some video analyses and courses. As of now, I am not working for them, and I will not be working for them in the future either.
According to the LinkedIn profiles of some top traders, they switch employers frequently, so institutional traders and analysts move around firms and get noticed in trade publications. NDA's would have been signed, so there is little to no risk of IP being transferred. Sales roles will of course have a conflict of interest but this is mitigated with gardening leave. Whether a client chooses to move with the sales team is up to the client. In terms of conflict of interest, I consider my situation null and void. How does this even come into the discussion unless I am required to make a video for Samuel & Co., which I am certainly not going to do as a trader? IDK
.
So, stepping back. It might have been just a weird way to say "thanks, but no thanks". Therefore, I would have preferred the simple approach.
Another reason I can imagine is that they didn't want to bother teaching an old dog new tricks. In interview #2, I had said I was willing to go the Samuel & Co route, learn how they saw fit to trade, and then get feedback and accountability from them and their senior staff. Feedback on a defined strategy is a lot easier and more productive than a discretionary set of entries and exits. For me, having a sense of community and some accountability to a risk manager were the most important things.
Raj explained how the firm would go on semi-regular days out, including paintballing and team-building exercises. Their traders had gaming nights at the cinema and C.O.D. had brought out some interesting psychological traits. Being a sole trader can be lonely, and boredom is common. It would have been invaluable to be able to share ideas and motivation with other traders who were like-minded. Especially as they get 700 applicants a week and have a physical trading floor and 400 active traders.
After the "Dear John" phone call with Liam, I tried to argue my case that I didn't think there was a conflict of interest, but graciously accepted the firm's decision. The last question I asked Liam before putting the phone down was, "if the outcome had been positive and I had been accepted as a trader, how would they have known that they had made the right choice in hiring me 12 months later?". In response, Liam said, "interesting question.... I have no idea." WTF!
For me, my consistency as a trader, using the methodology taught by the firm's lead mentors and head trader, and my ability to demonstrate discipline, as well as my active participation within the community they had created were the obvious reasons. Assuming they are looking for traders, that is. But Liam said, "success means different things to different people as they come from different starting points". In my brain I am like, surely the scores on the board are what matters.
So the quest continues and I will be putting more effort into CTI, FTP, SurgeTrader, and my own ideas for now. In a couple of months' time, I will hopefully be able to do that thing where I turn a negative into a market disruption and carve out my own niche. The thought of having a Black Bentley Bentayga as a taxi like Sam has is inspiration enough.
Over the last few weeks, I had been in contact with Samuel & Co Trading LTD , as they advertised for remote traders. Founded by Samuel Leach with little more than a student loan and laptop, this firm has become a well-known and well-documented place where traders can learn the basics and earn their way to relatively large trading accounts.
The initial response after sending in a CV was a telephone screening call with their "Trader & Headhunter" Liam Sharvell. I didn't come across as a complete psycho and he put me forward for a virtual meeting with their "Head Trader" Raj Singh.
On both occasions I was asked about my background and motivation for wanting to work with Samuel & Co. and whether I knew anything about the company and what they fundamentally did. My C.V. currently details my previous role which was providing a financial markets-based website with both written and video analysis. This was flagged as a potential conflict of interest in the 1st interview, to which I explained that I was no longer providing analysis to that company and made sure I gave a decent reason why I wouldn't be doing so in the future.
Throughout the conversation with Raj, I tried not to sound like I thought I knew everything, because I am self-aware enough to know that I don't know everything and that my past had led me to this point where I solely wanted to earn my daily bread actually trading, rather than helping brokers with their educational content.
Based on the feedback I received today, I conducted myself well in my interview. I was not selected as a trader based on the potential conflict of interest stated in interview #1. In my opinion, there is no conflict of interest. As part of my work with a firm, I put my name and face on some written analyses as well as some video analyses and courses. As of now, I am not working for them, and I will not be working for them in the future either.
According to the LinkedIn profiles of some top traders, they switch employers frequently, so institutional traders and analysts move around firms and get noticed in trade publications. NDA's would have been signed, so there is little to no risk of IP being transferred. Sales roles will of course have a conflict of interest but this is mitigated with gardening leave. Whether a client chooses to move with the sales team is up to the client. In terms of conflict of interest, I consider my situation null and void. How does this even come into the discussion unless I am required to make a video for Samuel & Co., which I am certainly not going to do as a trader? IDK
.So, stepping back. It might have been just a weird way to say "thanks, but no thanks". Therefore, I would have preferred the simple approach.
Another reason I can imagine is that they didn't want to bother teaching an old dog new tricks. In interview #2, I had said I was willing to go the Samuel & Co route, learn how they saw fit to trade, and then get feedback and accountability from them and their senior staff. Feedback on a defined strategy is a lot easier and more productive than a discretionary set of entries and exits. For me, having a sense of community and some accountability to a risk manager were the most important things.
Raj explained how the firm would go on semi-regular days out, including paintballing and team-building exercises. Their traders had gaming nights at the cinema and C.O.D. had brought out some interesting psychological traits. Being a sole trader can be lonely, and boredom is common. It would have been invaluable to be able to share ideas and motivation with other traders who were like-minded. Especially as they get 700 applicants a week and have a physical trading floor and 400 active traders.
After the "Dear John" phone call with Liam, I tried to argue my case that I didn't think there was a conflict of interest, but graciously accepted the firm's decision. The last question I asked Liam before putting the phone down was, "if the outcome had been positive and I had been accepted as a trader, how would they have known that they had made the right choice in hiring me 12 months later?". In response, Liam said, "interesting question.... I have no idea." WTF!
For me, my consistency as a trader, using the methodology taught by the firm's lead mentors and head trader, and my ability to demonstrate discipline, as well as my active participation within the community they had created were the obvious reasons. Assuming they are looking for traders, that is. But Liam said, "success means different things to different people as they come from different starting points". In my brain I am like, surely the scores on the board are what matters.
So the quest continues and I will be putting more effort into CTI, FTP, SurgeTrader, and my own ideas for now. In a couple of months' time, I will hopefully be able to do that thing where I turn a negative into a market disruption and carve out my own niche. The thought of having a Black Bentley Bentayga as a taxi like Sam has is inspiration enough.
New Update:
Currently trading 3 accounts.
CTI - Assesment - In profit just waiting for the 30 active days to pass
Funded Trading Plus - Live Account - in profit, just building slowly to the next 10% to get a bigger account
SurgeTrader - The above screenshot is from the assessment account. Just passed the 10% increase, and should go live soon.
Currently trading 3 accounts.
CTI - Assesment - In profit just waiting for the 30 active days to pass
Funded Trading Plus - Live Account - in profit, just building slowly to the next 10% to get a bigger account
SurgeTrader - The above screenshot is from the assessment account. Just passed the 10% increase, and should go live soon.
So in the same way as FTP, the contract with Surgetrader is organised through the site Deel. Not sure if this is part of Eightcap as well but they have very close similarities. The main difference is that Surgetrader is based in the USA, so you have to fill in a W-8BEN-E tax form, which requires a UTR number as I am based in the UK. Now fully funded with FTP and Eightcap, just need CTI to come on board and then we can start working out what else to do next.
One more trading day with CTI before I get my first bump in account equity.
Once I have CTI, FTP and SurgeTrader account all running the same EA on the larger accounts I can start doing some comparisons and also making sure the current trading logic works well enough. I'll also be looking for another firm to sign up with, which may be Top Step FX but I need to make sure that I can trade with EA's.
Once I have CTI, FTP and SurgeTrader account all running the same EA on the larger accounts I can start doing some comparisons and also making sure the current trading logic works well enough. I'll also be looking for another firm to sign up with, which may be Top Step FX but I need to make sure that I can trade with EA's.
) I thought I would take a look at which other firms to try.
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