LMI prop - account types review. Opinions wanted.

[PuffQueyFantastic]

Exactly
The only problem, there is another variable there, which is the max allowed daily risk. I assumed it can be ignored, but in fact depending on your trading system, that can be the most crucia; element to consider for your decision.

It could be, I agree. But IMHO trading futures, anything that is above $500 of a daily limit - that's good enough. $250 that they've got for mini accounts can be really dangerous. It's like making one trade a day. If its a loss - you don't have a chance to make up for it.

There is high chance that one would end up losing whatever little money he/she has got.. if you have some money and u know how to trade u don't need them.. Usually the rules are very difficult to follow .. Does anybody made any of this kind of program through ? Would love to hear the experience

The thing is that traders often need to have some kind of a risk manager to control them. Prop firms can serve two roles at the same time: - risk manager's role - investor's role So if you can trade, then for only $70-$150 you get a chance to get a sufficient enough trading account to manage and make a living with it. At the same time you gonna have some supervision. Daily and other risk-limits set by prop firm can help train the control of emotional challenges that we all face from time to time. The more I think about all the pros and cons, the more I like the whole idea. I first considered the opportunity as a way to get more of a risk capital only. Now I think there is another way to look at it as well. The scheme is not perfect, but I think I'm willing to try. The traders I know passed the qualification here, but they don't trade with LMI at the moment. They withdrew the first profits and left the company to trade their own money now.