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Overview of TradeDay Futures Prop Firm

TheTrustedProp
Date: May 10, 2024

In the world of futures trading, success is often measured by one's ability to trade profitably and consistently. However, this journey can be daunting, especially for those who are hesitant to risk their hard-earned money. That's where TradeDay comes into play. In this article, we will take an in-depth look at TradeDay, a platform that offers a unique evaluation program to help aspiring traders hone their skills and eventually get funded in the live markets.

Company Details

TradeDay, also known as TradeDay LLC., is a trading company that was established in November 2020. Headquartered in Chicago, United States, it is led by CEO James Thorpe. With a relatively short history, TradeDay has quickly made a name for itself in the world of futures trading.

How Does the TradeDay Evaluation Program Work?

The TradeDay evaluation program is a straightforward process designed to test a trader's ability to navigate the futures markets profitably and consistently. It takes place in a simulated trading environment, where traders must adhere to specific rules and objectives set by TradeDay.

Rules:

  1. Trade Only During Permitted Times: Trading is allowed from 8:30 am to 3:15 pm Central Time, Monday to Friday.
  2. Trade Only Permitted Products: Traders can only trade specific products, including the E-mini S&P 500, E-mini Nasdaq 100, E-mini Dow Jones, E-mini Russell 2000, and Micro E-mini S&P 500.
  3. Don't Exceed Trailing Max Drawdown: Traders must avoid surpassing the end-of-day trailing max drawdown, which represents the maximum allowable loss from the highest point of their account balance.

Objectives:

  1. Make Money: Traders need to trade until they reach the profit target assigned to them, which depends on the plan they choose.
  2. Track Record: Traders must engage in trading for a minimum of 10 days, which need not be consecutive.
  3. Be Consistent: Trading should maintain a positive risk-reward ratio, meaning that the average winning trade should surpass the average losing trade.

Traders have the flexibility to choose from different plans, each tailored to their preferred buying power, profit target, and position limits.

Benefits of the TradeDay Evaluation Program

The TradeDay evaluation program offers several advantages to futures traders:

1. No Risk

Traders can participate in the evaluation without risking their own capital. The trading occurs in a simulated environment, and traders are only required to pay a monthly fee based on their chosen plan, which is significantly lower than the buying power they receive.

2. No Limits

Traders enjoy the freedom to trade as often as they like, provided they adhere to the established rules and objectives. They can also trade any of the permitted products, all of which are highly liquid and popular in the futures market.

3. No Hassle

TradeDay simplifies the trading experience by providing traders with everything they need. This includes a web-based platform, a mobile app, and access to a trading room, eliminating the need to open a brokerage account, set up a platform, or pay commissions.

4. No Hidden Terms

Transparency is a key principle at TradeDay. The rules and objectives are clear and apply uniformly to all traders. There are no hidden fees, fine print, or surprises along the way.

5. No Withdrawal Restrictions

As traders grow their accounts and trade larger positions, TradeDay imposes no restrictions on withdrawals. Profits earned are distributed to traders each month, allowing them to enjoy the fruits of their successful trading.

Account Sizes

TradeDay offers various account sizes, including $10,000, $25,000, $50,000, $100,000, $150,000, and $250,000, giving traders the flexibility to choose an option that suits their trading goals and risk tolerance.

Other Details

In addition to the evaluation program, TradeDay provides valuable resources and education to help traders succeed. Their MarketChartist's research, delivered daily, along with courses on skill development, are essential tools for traders looking to sharpen their skills.

Our Story

TradeDay was born out of a desire to level the playing field for aspiring traders. With over 80 years of combined experience in the futures industry, the TradeDay team understands the challenges and risks involved in trading. They have successfully managed and mentored hundreds of traders, offering guidance, mentoring, and a supportive environment.

 

In conclusion, TradeDay provides an excellent opportunity for aspiring traders to prove their skills and potentially get funded in the live markets. With a clear evaluation process, no risk to personal capital, and an emphasis on transparency and support, TradeDay is a valuable platform for those looking to establish themselves as successful futures traders.

FAQs

The 14-Day Free Trial allows traders to experience the TradeDay community and access available resources for 14 calendar days from sign-up. During this trial, trading is not evaluated for funding, and there are no restrictions on trading.

The Resources and Education membership provides access to all TradeDay member site offerings, including courses and content. Traders may opt for this membership to work through courses or access educational resources even if they are funded elsewhere or trade their own accounts.

To participate in the evaluation program, traders choose a program that aligns with their needs and price point. Their first trade counts towards becoming a funded trader if they meet the program's requirements.

TradeDay does not support funding multiple accounts through copy trading. However, traders can use a copy trader to replicate trades from their personal accounts into the TradeDay evaluation.

TradeDay primarily focuses on futures trading, offering a wide range of asset classes, including equity indexes, FX pairs, metals, oil, and agricultural products. Their platform features products from the Chicago Mercantile Exchange (CME) Group.

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