Initially didn’t know what to title this because hedging isn’t really the issue it’s how traders as a whole are punished for it.
This is a skippable premise but for anyone worth a grain of salt at Tradeify and has an ounce of empathy let me give you a glimpse of someone that’s part of a group of traders that made an honest mistake.
Everyone’s journey is different and to peek into my 3 year journey where a trader ultimately is learning more about themselves , in short, ive finally addressed issues (and uncovered some) through a Behavioral Health Specialist. Feeling unfairly punished can drive a person mad , think revenge trade or revenge eval purchase. In other words it’s a moment like this that can brake the camels back to cave in. For a company that wants to shape terms and services for traders it may be worthwhile to take more consideration into what terminates an account. Especially when Top Step flattens trades that are hedged.
So to the point , A couple weeks ago I received an email from TDFY for a hedging violation that closed my account as “failed”. Now I’ve dealt with many prop firm companies when a violation happens and they tend to compromise or give a slap on the wrist for terms that may be in the grey area for rules that I feel are aimed at bad actors trying taking advantage of a company.
Some things like DCA while in drawdown , having trade days extended , or not holding a trade for 1 minute. Essentially terms that are unique to a degree with the firm, possibly to weed out or draw more focus to an account/trade.
A lot of times these unique terms can be overlooked especially when new traders are looking for a company and have a handful of other options and firms to choose from. When a violation occurs most companies choose to look further into the situation with a trader and adjust the severeness of a punishment.
So in my situation I have a 25k funded acct. I’ve never received a payout from tradify yet.
They can see from my records that I buy 1-2 evals a week. As a person living check to check an extra $65 goes a long way.
I’ve been trading with them since “Select” came out and the new lower tiered 25k I felt would give me some more cushion with expenses. I trade with other firms where I’ve been live, had other payouts , currently clawing out of a losing streak.
This month I felt things were about to turn around when I started to become more consistent and am able to hold a select account for over a week without blowing it. It’s been a while since I’ve juggled accounts and I’ve never copy traded.
Using trading view I toggled accounts and totally forgot my other account had a contract open.
It’s not like motive wave where I can see my accts and real time pnl, I didn’t find out till I was checking balances and saw it was negative so I closed it.
To make matters worse the eval was later blown and the funded account was 50% in drawdown.
I’m already stressed thinking about how I’ll approach getting out of drawdown since I’m in funded stage we all know how hard that can be with the many evals it took us to finally get there. And the approach changing cuz it’s unfamiliar territory and you don’t want to blow it.
The following day I log on to tradify because I got a notification saying I didn’t have enough funds in my card to renew a 50k acct.
Next to my 25k funded acct is says “under review”. I’m totally surprised and check discord for what it is and finally check my email to find a notice.
I message support who tells me it’s a “hard no” and also recognized I didn’t have any bad intention but there is nothing the can do about it.
They offered a 50% discount code. I’m just totally famished at this point and accept it
but they still haven’t given me that.
I’m certain I’ll be more careful going forward but what do yall think?
With my 25k funded select acct in 50% drawdown and mentally in a downward spiral , ya sure .
Maybe I would’ve lost it but I felt that it was my fight to finish.
I was only asking to continue this fight but they want to terminate the account like I was some mastermind trying to hack a $600 payout.
The whole thing leaves a sour taste , but to me it was more about the time I put into this account. Even tho I chose to spend most of my small budget with Tradeify it seems the effort , consideration, and choice to be with them is undermined by a rule aimed at those trying to game a system.
Im just appalled that they can’t look at these on a case by case basis. Especially when there are more efficient ways of addressing this which has been proven by other firms.