10 Second Rule is Terrible
I really want to like Elite Trader Funding, but the 10 second rule has got to go. It makes zero sense in today's market and is soley there to prevent traders from being able to withdraw money. You already have a rule that unrealized trailing drawdown hurts us...forcing us to scalp instead and take profits when we can. But yet we can't scalp because of the 10 second rule.
For your EOD accounts, the 10 second rule also hurts us -- we're forced to stay in a trade longer, moving our stops out to avoid the 10 second rule. Yet hitting our max daily loss is an automatic fail.
In today's market conditions, trades can often happen fast. That is beyond our control.
No other prop firm has this 10 second rule. You're forcing a trader to stay in a trade longer instead of having logical stops/targets. If you want to prevent hyper scalpers, then make a rule that the trade has to be over x-amount of ticks or points.
Very very frustrating. If ETF got rid of this rule, it would make them among the best of the prop firms. Until then, avoid.
For your EOD accounts, the 10 second rule also hurts us -- we're forced to stay in a trade longer, moving our stops out to avoid the 10 second rule. Yet hitting our max daily loss is an automatic fail.
In today's market conditions, trades can often happen fast. That is beyond our control.
No other prop firm has this 10 second rule. You're forcing a trader to stay in a trade longer instead of having logical stops/targets. If you want to prevent hyper scalpers, then make a rule that the trade has to be over x-amount of ticks or points.
Very very frustrating. If ETF got rid of this rule, it would make them among the best of the prop firms. Until then, avoid.
Response from Elite Trader Funding
We appreciate your feedback regarding our 10-second trading rule. While we understand it may seem restrictive, its purpose is critical: to discourage practices that exploit the simulation environment through repetitive, patterned behaviors. It's important to clarify that our stance isn't against scalping per se, but consistent trading activities under 10 seconds, observed over time, raise concerns. Not only are such practices impractical in live trading environments, but they also risk being flagged by exchanges for potential spoofing or high-frequency trading (HFT) violations.
If you have any further questions or concerns, please feel free to reach out to our support team. Your understanding and ongoing support mean a lot to us.
Best Regards,
ETF Team
If you have any further questions or concerns, please feel free to reach out to our support team. Your understanding and ongoing support mean a lot to us.
Best Regards,
ETF Team