The Goal of Legends Trading is to identify traders for potential further investment in either by Legends directly or another funding partner looking for diversification or alternative investments.
Apprenticeship Evaluations are employed to assess performance and determine proficiency. These Apprenticeship Evaluation serve as valuable tools for gauging abilities and understanding potential outcomes. However, it is crucial to recognize that such simulations are designed with specific rules and constraints in place, aiming to mirror real-world scenarios while maintaining a controlled environment.
It's counter productive to The Legends Trading long term goals to allow Apprentices to pass the Evaluation utilizing tactics and approaches that would not be successful in the Live market.
Tactics Considered Prohibited Conduct
- Coupons are valid for 1 per person. Any person that attempts to circumvent our system (such as creating new account with different email addresses) will be flagged, account(s) will be closed and they will not be offered a master account. Liquidated accounts may be reset for $75 and will still be eligible to qualify as a Master account. If you want multiple accounts, you can PURCHASE additional plans with your existing User.
- Using any trading strategy intended to exploit or create errors in the Services such as errors in the display of prices or delay in their updates.
- Going long in one account and going short in another account at the same time
- Using any trading strategy that includes disruptive practices, including but not limited to spoofing strategies.
- Making hundreds of rapid trades to take advantage of preferential queue position in SIM
- Flipping is not allowed
- Repeatedly exploiting the relative lack of “slippage” in the simulator to achieve impossible stop-loss execution
- Using tight brackets or auto-breakeven to take advantage of favorable fills ( this can cause offsetting your own trade which is against CME rules and highly monitored )
- Trading excessive or unrealistic number of contracts in the day (e.g., in excess of 500 per evaluation subscription).
- Maintain the Consistency Target: Best Trading day is less than 30% of total profits goal
- Otherwise performing trades in contradiction with how trading is actually performed in the applicable futures markets, or in a way that establishes justified concerns that Legends Trading might suffer financial or other harm as a result of User’s activities.
- Circumventing geographical restrictions of availability or any other technical restrictions.
- Aggregating the activities of multiple individuals under a single User identity.
- Trading on behalf of others including but not limited to sharing any incentives as part of any business arrangement.
- Engaging in other conduct which in the sole discretion of Legends Trading, represents uncommercial activity, is intended to game the market, or otherwise is not a viable trading strategy.
How are Prohibited Conduct violations treated?
Due to the unique nature of how Prohibited Conduct can be violated or the ramifications of it, Prohibitive Conduct is handled on a case by case basis.
The goal is to identify and isolate Prohibited Conduct Violations and educate the trader that these methods will not lead to long term Live Market success and the other paths that this opens up.
Possible actions taken in reaction to a Prohibited Conduct Violation include:
- Warning of the Prohibited Conduct Violation and why
- Deletion of the impacted trading day
- Reset of the affected account
- Permanent Closure
Prohibited Conduct violations will NOT result in a fee to reset your account. Ultimately, the action Legends Trading takes will depend on the violation's severity, intent and your trading history.
Confused? That's good, that means this isn't directed at you!
The overwhelming majority of our Traders are here for the opportunities and freedom that successfully trading can provide.
Our goals are to find and work with the next generation of traders that can pass our Evaluation with merit.