{"id":5744,"date":"2023-02-12T16:26:17","date_gmt":"2023-02-12T21:26:17","guid":{"rendered":"https:\/\/tradingfunder.com\/?p=5744"},"modified":"2024-04-21T10:47:03","modified_gmt":"2024-04-21T14:47:03","slug":"introduction-to-tradeday-a-comprehensive-overview","status":"publish","type":"post","link":"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/","title":{"rendered":"TradeDay 2024 Review: All to know"},"content":{"rendered":"\n<p id=\"block-5edd4e09-becc-4af2-991f-d2fc3e1727b1\">TradeDay was founded by James Thorpe, Steve Miley, and Tera Vicker in 2020; it is a proprietary trading firm based in Chicago, Illinois.<\/p>\n\n\n\n<p>TradeDay&#8217;s legitimacy is verified by more than 400 day traders worldwide in Trustpilot. TradeDay has transparent rules, quick Customer Service, and good educational resources.<\/p>\n\n\n\n<p>TradeDay funds traders with ether SIM and Live accounts provide a clear FAQ section and don&#8217;t set withdrawal restrictions. However, TradeDay sets a profit target, a consistency rule, and a trailing drawdown.<\/p>\n\n\n\n<p>TradeDay offers 6 account sizes with different prices, either for beginners or advanced traders. After purchasing from TradeDay, traders get email login credentials. They can then trade on platforms like Tradovate or NinjaTrader.<\/p>\n\n\n\n<p>TradeDay has 5 rules for traders during the challenge: including a maximum trailing drawdown. Additionally, traders must reach a profit target and use specific trading instruments during trading hours.<\/p>\n\n\n\n<p id=\"block-bbc85f60-1c52-4cd5-9855-ce59e087c34d\">In this article, we comprehensively review the TradeDay prop firm, and we offer essential information to help day traders answer all their questions and begin an evaluation with TradeDay.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#what_is_TradeDay\" title=\"what is TradeDay?\">what is TradeDay?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#who_are_TradeDays_founders\" title=\"who are TradeDay&#8217;s founders?\">who are TradeDay&#8217;s founders?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#What_makes_TradeDay_Legit\" title=\"What makes TradeDay Legit?\">What makes TradeDay Legit?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#Does_TradeDay_send_payouts_to_its_traders\" title=\"Does TradeDay send payouts to its traders?\">Does TradeDay send payouts to its traders?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#Does_TradeDay_provide_a_comprehensive_FAQ_section\" title=\"Does TradeDay provide a comprehensive FAQ section?\">Does TradeDay provide a comprehensive FAQ section?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#Does_TradeDay_have_good_User_Reviews_and_Testimonials\" title=\"Does TradeDay have good User Reviews and Testimonials?\">Does TradeDay have good User Reviews and Testimonials?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#Does_TradeDay_have_good_Customer_Support\" title=\"Does TradeDay have good Customer Support?\">Does TradeDay have good Customer Support?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#what_are_TradeDays_advantages\" title=\"what are TradeDay&#8217;s advantages?\">what are TradeDay&#8217;s advantages?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#what_are_TradeDays_disadvantages\" title=\"what are TradeDay&#8217;s disadvantages?\">what are TradeDay&#8217;s disadvantages?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#What_are_TradeDays_pricing_tiers\" title=\"What are TradeDay&#8217;s pricing tiers?\">What are TradeDay&#8217;s pricing tiers?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#Does_TradeDay_offer_price_discounts\" title=\"Does TradeDay offer price discounts?\">Does TradeDay offer price discounts?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#Does_TradeDay_allow_multiple_accounts\" title=\"Does TradeDay allow multiple accounts?\">Does TradeDay allow multiple accounts?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#How_does_TradeDay_work\" title=\"How does TradeDay work?\">How does TradeDay work?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#Does_TradeDays_Dashboard_provide_live_data\" title=\"Does TradeDay&#8217;s Dashboard provide live data?\">Does TradeDay&#8217;s Dashboard provide live data?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#What_are_TradeDay_Rules\" title=\"What are TradeDay Rules?\">What are TradeDay Rules?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#How_does_TradeDays_Trailing_Maximum_Drawdown_work\" title=\"How does TradeDay&#8217;s Trailing Maximum Drawdown work?\">How does TradeDay&#8217;s Trailing Maximum Drawdown work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#What_are_TradeDays_Trading_Hours\" title=\"What are TradeDay&#8217;s Trading Hours?\">What are TradeDay&#8217;s Trading Hours?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#What_are_TradeDays_Instruments\" title=\"What are TradeDay&#8217;s Instruments?\">What are TradeDay&#8217;s Instruments?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#TradeDay_uses_which_trading_platforms\" title=\"TradeDay uses which trading platforms?\">TradeDay uses which trading platforms?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#How_To_Set_Up_Tradovate_for_TradeDay\" title=\"How To Set Up Tradovate for TradeDay?\">How To Set Up Tradovate for TradeDay?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#How_To_Set_Up_NinjaTrader_8_for_TradeDay\" title=\"How To Set Up NinjaTrader 8 for TradeDay?\">How To Set Up NinjaTrader 8 for TradeDay?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#Does_TradeDay_allow_Copying_Trade\" title=\"Does TradeDay allow Copying Trade?\">Does TradeDay allow Copying Trade?<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what_is_TradeDay\"><\/span>what is TradeDay?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>TradeDay is a prop trading firm established in Chicago, Illinois, by James Thorpe, Steve Miley, and Tera Vicker in 2020. James Thorpe and Tera Vicker are the managers of the Chicago department, and Steve Miley is the manager of the London department. TradeDay offers futures traders access to funded trading accounts upon passing a trading evaluation, called Tiers.<\/p>\n\n\n\n<p>A prop trading firm is a company that trades financial assets using its own capital, not client money. Unlike investment firms, their main goal is direct market profits. Prop trading firms typically employ professional traders who use a variety of strategies to try to generate profits for the firm. Traders are rewarded based on their performance.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"who_are_TradeDays_founders\"><\/span>who are TradeDay&#8217;s founders?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>TradeDay&#8217;s founders are James Thorpe, Steve Miley, and Tera Vicker.<\/p>\n\n\n\n<p><strong>James Thorpe, Chicago:<\/strong> Experienced trader; former CEO of Mercury Derivatives and Clear Capital Group; managed international trading teams.<\/p>\n\n\n\n<p><strong>Steve Miley, London:<\/strong> 10 years trading; founded Market Chartist; senior analyst roles at Merrill Lynch and Credit Suisse; Dean at Bullseye Academy.<\/p>\n\n\n\n<p><strong>Tera Vicker, Chicago:<\/strong> European bond futures trader; led at Advanced Trading Ltd; arbitrage at Faltech; brokered at Chicago Mercantile Exchange and CBC Futures, London.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" width=\"800\" height=\"465\" src=\"https:\/\/tradingfunder.com\/wp-content\/uploads\/2023\/02\/tradeday-introduction-01-1-e1676236568428-800x465.png\" alt=\"tradeday founders\" class=\"wp-image-5748\" style=\"width:576px;height:335px\"\/><\/figure><\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_makes_TradeDay_Legit\"><\/span>What makes TradeDay Legit?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>TradeDay is considered legit due to its explicit FAQ section, effective customer service team, and revealing its real founders&#8217; identity to the community. The company boasts a 4.5-star rating on Trustpilot from over 400 reviews. Traders like TradeDay&#8217;s fast payouts. The company is commended for its professionalism and transparent evaluation process. All this information indicates that users view the company as trustworthy, not a scam.<\/p>\n\n\n\n<p>Some criticisms found the trading platforms outdated and cluttered. Others noted high commissions compared to other brokers and restrictive maximum drawdown allowances.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_TradeDay_send_payouts_to_its_traders\"><\/span>Does TradeDay send payouts to its traders?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Yes, <a href=\"https:\/\/tradingfunder.com\/tradeday-withdrawal-payout\/\" data-type=\"post\" data-id=\"14861\">TradeDay sends payouts to its traders<\/a>. They use ACH for US traders, Bank Wire for others, and PayPal. Traders can withdraw their profits whenever they like, there are no restrictions on the amounts or frequency of withdrawals.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_TradeDay_provide_a_comprehensive_FAQ_section\"><\/span>Does TradeDay provide a comprehensive FAQ section?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Yes, TradeDay provides a comprehensive FAQ section with all possible questions and answers that users may need to start with TradeDay.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_TradeDay_have_good_User_Reviews_and_Testimonials\"><\/span>Does TradeDay have good User Reviews and Testimonials?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Yes, TradeDay has garnered favorable testimonials from its clientele. On Trustpilot, TradeDay has a rating of 4.5 out of 5 stars, based on over 400 reviews. 81% of these reviews are 5-star ratings. But about 7% of reviews claim that TradeDay is a scam and isn&#8217;t worth trying.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_TradeDay_have_good_Customer_Support\"><\/span>Does TradeDay have good Customer Support?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Yes, TradeDay has quick and effective customer support. According to user reviews, the company&#8217;s customer support team is prompt and effective. They are available via email, phone, and live chat.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what_are_TradeDays_advantages\"><\/span>what are TradeDay&#8217;s advantages?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>TradeDay has 6 advantages. Here is a list of TradeDay&#8217;s advantages:<\/p>\n\n\n\n<ul>\n<li><strong>Free Trial<\/strong>: TradeDay provides a 14-day trial for traders to test their program.<\/li>\n\n\n\n<li><strong>Availability of education center<\/strong>: TradeDay has good education resources.<\/li>\n\n\n\n<li><strong>Open learning community<\/strong>: Traders can communicate and learn from each other.<\/li>\n\n\n\n<li><strong>Flexible Account Sizes<\/strong>: TradeDay funds traders with account balances ranging from $10,000 to $250,000.<\/li>\n\n\n\n<li><strong>Attractive Payouts<\/strong>: They offer 100% of profits for the first $10,000 in profits. Then, it adjusts to 90% for the next months.<\/li>\n\n\n\n<li><strong>Free license to NinjaTrader Platform<\/strong>: TradeDay&#8217;s Traders use NinjaTrader for free.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what_are_TradeDays_disadvantages\"><\/span>what are TradeDay&#8217;s disadvantages?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>TradeDay has 4 disadvantages. Here is a list of TradeDay&#8217;s disadvantages:<\/p>\n\n\n\n<ul>\n<li><strong>Restrictions for some countries<\/strong>: TradeDay prohibited 58 from their services, including Russia, South Africa, Nigeria, and Indonesia.<\/li>\n\n\n\n<li><strong>Necessity to follow a consistency rule<\/strong>: TradeDay does impose a consistency rule.<\/li>\n\n\n\n<li><strong>Limited Accounts<\/strong>: Traders cannot operate multiple accounts simultaneously.<\/li>\n\n\n\n<li><strong>Tight Trailing Drawdown<\/strong>: TradeDay has a stringent trailing drawdown policy, limiting potential losses.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_TradeDays_pricing_tiers\"><\/span>What are TradeDay&#8217;s pricing tiers?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>TradeDay pricing varies from $137 to $657 depending on the chosen account size (tier). The table below lists the fees for each tier:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">Account size (Tier)<\/th><th class=\"has-text-align-center\" data-align=\"center\">Price<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">$10K<\/td><td class=\"has-text-align-center\" data-align=\"center\">$99<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">$25K<\/td><td class=\"has-text-align-center\" data-align=\"center\">$125<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">$50K<\/td><td class=\"has-text-align-center\" data-align=\"center\">$165<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">$100K<\/td><td class=\"has-text-align-center\" data-align=\"center\">$275<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">$150K <\/td><td class=\"has-text-align-center\" data-align=\"center\">$350<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">$250K<\/td><td class=\"has-text-align-center\" data-align=\"center\">$750<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_TradeDay_offer_price_discounts\"><\/span>Does TradeDay offer price discounts?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Yes, TradeDay grants discounts on their prices, ranging from 20% off to 60% off. To receive these discounts, traders should use this <a href=\"https:\/\/members.tradeday.com\/?aff=TradingFunder\"><strong>TradeDay discount link<\/strong><\/a> and enter coupon code: <strong>TFDAY<\/strong>. <strong><strong>TFDAY<\/strong><\/strong> coupon code is dynamic, automatically reflecting the most recent discount available upon use. TradeDay applied the discount instantly upon purchasing the evaluation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_TradeDay_allow_multiple_accounts\"><\/span>Does TradeDay allow multiple accounts?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>No, TradeDay doesn&#8217;t allow multiple accounts. Day traders can only have 1 TradeDay account active at the same time.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_does_TradeDay_work\"><\/span>How does TradeDay work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>TradeDay&#8217;s procedure consists of 9 steps, the trader ensures the system works correctly by following these 9 steps below:<\/p>\n\n\n\n<ol>\n<li>Visit the pricing page for membership options.<\/li>\n\n\n\n<li>Purchase an evaluation membership to begin the assessment.<\/li>\n\n\n\n<li>Watch the intro video upon the first login.<\/li>\n\n\n\n<li>Access the Trading Room for tools and resources.<\/li>\n\n\n\n<li>Achieve evaluation objectives: profit, 7-day trading, and consistency.<\/li>\n\n\n\n<li>Adhere to rules: trading hours, permitted products, and loss limits.<\/li>\n\n\n\n<li>Get a funded trading account.<\/li>\n\n\n\n<li>Keep your initial $10,000 and 90% subsequent profits without limits.<\/li>\n\n\n\n<li>Restart evaluation if rules are broken.<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_TradeDays_Dashboard_provide_live_data\"><\/span>Does TradeDay&#8217;s Dashboard provide live data?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>No, TradeDay&#8217;s Dashboard doesn&#8217;t provide live data on trading account balances. Account Data can be verified through Tradovate.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_TradeDay_Rules\"><\/span>What are TradeDay Rules?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are 5 main rules for TradeDay. The Guidelines are listed below:<\/p>\n\n\n\n<ul>\n<li>Avoid hitting the trailing maximum drawdown.<\/li>\n\n\n\n<li>Trade minimum 7 trading days.<\/li>\n\n\n\n<li>Follow the consistency rule; no day greater than 30% of your total profits.<\/li>\n\n\n\n<li>Don&#8217;t trade during unauthorized times.<\/li>\n\n\n\n<li>Exclude trading instruments not allowed.<\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/tradingfunder.com\/tradeday-rules\/\">TradeDay trading rules<\/a> are implemented to manage risk effectively, ensuring the company and its traders adhere to disciplined, risk-aware strategies that align with regulatory compliance and market best practices.<\/p>\n\n\n\n<p>Traders are also requested to meet the trading objective, which is reaching the profit target.<\/p>\n\n\n\n<p>The table below shows the trailing drawdown value and the contract size of every account size:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">Account size<\/th><th class=\"has-text-align-center\" data-align=\"center\">Trailing Drawdown<\/th><th class=\"has-text-align-center\" data-align=\"center\">Contract Size<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">$10K<\/td><td class=\"has-text-align-center\" data-align=\"center\">$1000<\/td><td class=\"has-text-align-center\" data-align=\"center\">1 (10 Micros)<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">$25K<\/td><td class=\"has-text-align-center\" data-align=\"center\">$1500<\/td><td class=\"has-text-align-center\" data-align=\"center\">2 (20 Micros)<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">$50K<\/td><td class=\"has-text-align-center\" data-align=\"center\">$2,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">5 (50 Micros)<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">$100K<\/td><td class=\"has-text-align-center\" data-align=\"center\">$3,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">10 (50 Micros)<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">$150K <\/td><td class=\"has-text-align-center\" data-align=\"center\">$4,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">15 (50 Micros)<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">$250K<\/td><td class=\"has-text-align-center\" data-align=\"center\">$5,000<\/td><td class=\"has-text-align-center\" data-align=\"center\">25 (50 Micros)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_does_TradeDays_Trailing_Maximum_Drawdown_work\"><\/span>How does TradeDay&#8217;s Trailing Maximum Drawdown work?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>TradeDay sets a Trailing Maximum Drawdown (TMD) limit based on end-of-day (EOD) account balances, differentiating them from many competitors who recalculate intraday. The Trailing Maximum Drawdown is a ceiling to the maximum loss a trader can incur. It&#8217;s adjusted upwards with profit gains but remains static with losses, pegged to the highest account balance achieved. For instance, if a trader starts with $100,000 and the TMD is set at $98,000, it will increase as the trader earns but freeze at $100,000 once reached. The TMD provides a risk management tool, ensuring traders don&#8217;t incur unlimited losses and allowing TradeDay to gauge a trader&#8217;s consistency and strategy effectiveness.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_TradeDays_Trading_Hours\"><\/span>What are TradeDay&#8217;s Trading Hours?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>TradeDay&#8217;s trading rules stipulate that all positions must be closed 10 minutes before the market&#8217;s closing time. For instance, if trading crude oil, which closes at 4:00 pm CT daily, positions should be closed by 3:50 pm CT. While the market is open, traders can trade anytime, but not during TradeDay&#8217;s tier 1 economic data releases. Different products have different closing times, so traders should consult the CME Group&#8217;s website for specific market closing times. Funded traders are particularly cautioned to adhere to these rules, or they risk account termination. The rules are in place to manage risks associated with unforeseen market events during closures.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_TradeDays_Instruments\"><\/span>What are TradeDay&#8217;s Instruments?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>TradeDay&#8217;s Instruments are listed below:<\/p>\n\n\n\n<ul>\n<li><strong>Equity Futures:<\/strong> E-mini S&amp;P 500, Micro E-mini S&amp;P\/Nasdaq, E-mini Nasdaq-100, E-mini Russell 2000, Nikkei\/USD, E-mini Dow.<\/li>\n\n\n\n<li><strong>Currency Futures:<\/strong> Australian Dollar, British Pound, Euro FX, Japanese Yen.<\/li>\n\n\n\n<li><strong>Interest Rate Futures:<\/strong> 2\/5\/10-Year T-Notes, U.S. Treasury Bond, Ultra Bond.<\/li>\n\n\n\n<li><strong>Energy Futures:<\/strong> Crude Oil, Micro Crude Oil, E-mini Natural Gas.<\/li>\n\n\n\n<li><strong>Metal Futures:<\/strong> Copper, Gold, Silver.<\/li>\n\n\n\n<li><strong>Agricultural Futures:<\/strong> Lean Hog, Live Cattle, Soybean, Corn, Wheat.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"TradeDay_uses_which_trading_platforms\"><\/span>TradeDay uses which trading platforms?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>TradeDay uses the 4 trading platforms listed below:<\/p>\n\n\n\n<ol>\n<li>Tradovate<\/li>\n\n\n\n<li>NinjaTrader<\/li>\n\n\n\n<li>TradingView<\/li>\n\n\n\n<li>Jigsaw<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_To_Set_Up_Tradovate_for_TradeDay\"><\/span>How To Set Up Tradovate for TradeDay?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>To Set Up Tradovate for TradeDay, traders must follow the following 10 steps to trade using Tradovate:<\/p>\n\n\n\n<ol>\n<li>Log into the <a href=\"https:\/\/members.tradeday.com\/?aff=TradingFunder\">TradeDay website<\/a>.<\/li>\n\n\n\n<li>Navigate to the trading room page.<\/li>\n\n\n\n<li>Click &#8220;Start Trading Now&#8221;.<\/li>\n\n\n\n<li>Select &#8216;launch Tradovate trading platform&#8217;.<\/li>\n\n\n\n<li>Input your TradeDay username (prefix &#8220;TD_&#8221;) and password.<\/li>\n\n\n\n<li>Review the &#8220;Market Data Subscriber Certification&#8221;; if agreeable, select &#8220;Next&#8221;.<\/li>\n\n\n\n<li>Check both boxes on the next page and enter your name.<\/li>\n\n\n\n<li>Click &#8220;Sign&#8221;.<\/li>\n\n\n\n<li>Accept the &#8220;Tradovate End User License Agreement&#8221;.<\/li>\n\n\n\n<li>Choose &#8220;Simulation&#8221; mode to begin trading.<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_To_Set_Up_NinjaTrader_8_for_TradeDay\"><\/span>How To Set Up NinjaTrader 8 for TradeDay?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>To Set Up NinjaTrader 10 for TradeDay, traders must follow the following 10 steps:<\/p>\n\n\n\n<ol>\n<li>Ensure you have the latest version of NinjaTrader 8 installed.<\/li>\n\n\n\n<li>Sign up or log into your TradeDay account and sign the market data agreement.<\/li>\n\n\n\n<li>Log into Tradovate first before connecting to NinjaTrader.<\/li>\n\n\n\n<li>Visit the <a href=\"https:\/\/account.ninjatrader.com\/welcome\">NinjaTrader Account Page<\/a> and log in using your TradeDay credentials.<\/li>\n\n\n\n<li>Download the most recent NinjaTrader version.<\/li>\n\n\n\n<li>After installation, launch NinjaTrader and go to <code>Tools &gt; Options<\/code>.<\/li>\n\n\n\n<li>Select &#8220;General Category&#8221; and activate \u201cMulti Provider\u201d Mode.<\/li>\n\n\n\n<li>Establish the Multi Provider connection.<\/li>\n\n\n\n<li>Switch from NinjaTrader&#8217;s default trading account (Sim101) to TradeDay&#8217;s evaluation.<\/li>\n\n\n\n<li>Start trading.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_TradeDay_allow_Copying_Trade\"><\/span>Does TradeDay allow Copying Trade?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>No, TradeDay doesn&#8217;t allow the copying of trades, and TradeDay doesn&#8217;t allow multiple accounts. Traders can only copy trades from their personal accounts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TradeDay was founded by James Thorpe, Steve Miley, and Tera Vicker in 2020; it is a proprietary trading firm based in Chicago, Illinois. TradeDay&#8217;s legitimacy is verified by more than 400 day traders worldwide in Trustpilot. TradeDay has transparent rules, quick Customer Service, and good educational resources. TradeDay funds traders with ether SIM and Live &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"TradeDay 2024 Review: All to know\" class=\"read-more button\" href=\"https:\/\/tradingfunder.com\/introduction-to-tradeday-a-comprehensive-overview\/#more-5744\" aria-label=\"Read more about TradeDay 2024 Review: All to know\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7492,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"TradeDay 2024 Review: All to know","_seopress_titles_desc":"TradeDay 2024 review: Trustpilot reviews. They offer clear rules, efficient service, Sim\/Live accounts, multiple account sizes, and support platforms like Tradovate and NinjaTrader.","_seopress_robots_index":"","footnotes":""},"categories":[166],"tags":[],"_links":{"self":[{"href":"https:\/\/tradingfunder.com\/wp-json\/wp\/v2\/posts\/5744"}],"collection":[{"href":"https:\/\/tradingfunder.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingfunder.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingfunder.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingfunder.com\/wp-json\/wp\/v2\/comments?post=5744"}],"version-history":[{"count":0,"href":"https:\/\/tradingfunder.com\/wp-json\/wp\/v2\/posts\/5744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingfunder.com\/wp-json\/wp\/v2\/media\/7492"}],"wp:attachment":[{"href":"https:\/\/tradingfunder.com\/wp-json\/wp\/v2\/media?parent=5744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingfunder.com\/wp-json\/wp\/v2\/categories?post=5744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingfunder.com\/wp-json\/wp\/v2\/tags?post=5744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}