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Proprietary trading or Prop-Trading is when a trader trades financial instruments, such as currencies, stocks, bonds, commodities, and their derivatives, with a brokerage firm's own money to make a profit for himself.
Proprietary trading starts by having traders undergo an evaluation Challenge to prove they are talented enough to be funded.
After successfully meeting the firm's targets and adhering to their rules, the firm provides an environment in which the trader can trade in and keep a share of the profits, while all losses are covered by the prop-trading firm.
The Trading Pit is an award-winning global proprietary trading firm, aiming to challenge the conditions that traders have been working under for years. We’re here to disrupt the entire industry. Our offering is ground-breaking, and we are here to create an entirely new industry.
Offering global access to all major asset classes, including Forex, Stocks, ETFs, Futures, Options, and Cryptos.
At no point during your Live trading journey with us will you need to invest your own funds in order to trade. The Trading Pit provides a funded live account for all Partners that pass any of our Challenges.
The only expense to be covered from your end is the initial one-time purchase of one of our Challenges.
Our multi-asset proprietary trading infrastructure is intuitive and simple to master.
We play by simple, transparent rules, with no small print or hidden clauses.
We reward skills and pay fast because our interest is aligned with yours.
Our traders can access and trade on industry-leading trading platforms.
We help traders master their skills with unbounded educational resources and networking.
500+ CFDs: Access some of the most lucrative Futures, Stocks, Cryptocurrencies, and Forex Exchanges in the markets.
Cross-Broker: Enter a cutting-edge trading ecosystem with industry-leading brokers and fintech trading platforms and tools.
Unlimited Growth: Create the ultimate affiliate program, manage funds, or even own a hedge fund! Get certified and grow as you go!
Ultra-Low Latency: Use some of the industry's most powerful trading platforms and solutions for high-speed order processing.
Global Network: Join an exclusive club of professional traders. Share knowledge, sharpen your skills, and increase your benefits!
Trading Freedom: Bring on your best trading game! Whatever your trading style is, you are welcome at The Trading Pit.
Max trailing drawdown refers to the maximum loss your account can suffer overall during the course of the Challenge you are undertaking. As you can see, this is a trailing drawdown, which means each time your current equity/ balance reaches a new peak, your drawdown limit will also trail and rise with it.
Current equity = current balance + /- profits or losses from active (open) trades
Current Balance = balance +/- profits or losses from closed trades
The current balance and current equity will be the same if you do not have any open trades.
John purchases a Futures Executive Challenge which has a trailing drawdown based on Open trades.Starting with $150,000 in current balance & current equity, your max trailing drawdown is set to $146,500 as we provide you a maximum loss limit of $3500.
This essentially means your account cannot drop below $146,500 at any point throughout the challenge, otherwise, it will be considered a breach of our rules, and your account will be automatically closed.
If John was to open a position and reached a $2000 in unrealized profit, but then closes the position at only $1000 profit, then our system would record the highest point his account had reached, which in our case would be $152,000 (equity). Keep in mind even though he closed his position at a $151,000 balance since the Futures Executive Challenge is based on Open Trades, the system registers the highest equity your account has reached and is called your High Watermark.
If John had purchased the VIP Challenge which is based on Closed trades and has a maximum loss limit of $5000, then in the same above scenario our system would register his high watermark as the current balance at $151,000, where he closed his position and took the $1000 profit. Thus, $151,000 minus our maximum loss limit of $5000 for the VIP Challenge, would set his max trailing drawdown at $146,000.
All the above information is available in detail on your Dashboard.
After purchasing your Futures Challenge, you first need to accept Rithmic’s Terms and Conditions through Rithmic's Website here.
You must use the Platform Credentials (NOT your Dashboard Credentials) sent to you by email to log in. If you haven't received this email within 15 minutes of your purchase, please get in touch with our support team so that we can assist you.
Once you accept Rithmic’s Terms and Conditions, you can start trading with any of our supported platforms by downloading them from your Dashboard.
To connect your TTP account to Volume Trader Terminal, follow the steps below:
1. Download VTT and enter your License received from Volume Trader. Please note that The Trading Pit does not provide free license for this platform.
2. After entering your license credentials, click on the Connection tab in the upper right that says, "Rithmic".
3. A new pop-up will appear for you to log in. To do so, select the Demo option and enter the Platform Username and Password we sent you via email. Before you can connect, click on the Connection settings.
4. Set the Demo server to The Trading Pit - Frankfurt/Chicago and then exit to press Connect.
5. If you see the below on your screen, your account is now connected to VTT and you are ready to start trading.
6. If you see the error below, please check your Internet connection, your Connection settings, or credentials.
If you have checked the above and can't seem to resolve the issue, please get in touch with our support team with a screenshot of your login, and we will happily assist you.