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I blew up. Now I have to start over??

Aligned to what we’ve covered in our last post, some evaluators recognize that live traders have a tendency to blow their accounts up quickly. To cater for this market they offer “live resets”… at a price! Typically several hundred dollars.

Yes… you’re understanding this correctly. You have a live account that’s actually a “live sim” account. You break a rule or blow up the account. The evaluator will offer to reset the live (sim!) account so that you can start trading again and not go through another evaluation process.

Imagine if real life was like this! You could have a cash account with a brokerage into which you had deposited $2500. You break a self-imposed trading rule (daily loss limit) or burn all $2500 as drawdown. Your broker calls you to say “give me $500 and we’ll reinstate your $2500”. Nice. 😁

So why offer this as an evaluator? It’s a profit generator based on the behavior of live traders blowing up their accounts and being impatient to restart their trading dream. You have paid for (and passed) an evaluation; you have paid monthly data fees. You blow up the “live sim” account (which has not lost any evaluator funds) and because you’re impatient, you can reset the “live sim” which has potential to generate withdrawals in exchange for a several hundred dollar payment.

For some people this is a time saver and a potential benefit. We’re making no judgement (apart from various emojis). We’re just sharing the reality of what’s available within this marketplace from some evaluators. Consider whether this is something of use to you or a confirmation of where trading evaluator profits are generated.

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