FREQUENTLY ASKED QUESTIONS
1. I am relatively new to trading. My goal is to become a professional trader but I have no idea as to how or where to start. Can Savius guide me?
If you already have some trading experience, Savius can certainly assist you through the next steps. We don’t provide coaching or training to brand new traders. All our traders and aspiring traders have at least a basic theoretical knowledge and some live trading experience (even if on a simulator). That been said, we invite you to contact us and set up a time for a free assessment session with one of our coaches to define your objectives.
2. Why would I choose to join your firm and trade your funds rather than trade my own and keep all the profits?
Trading your own funds is certainly an option and may provide you at first glance with better income potential and flexibility. In our experience, however, trading in a team and supervised environment is priceless and can make the difference between becoming a professional trader and being forced to quit altogether. In addition, most traders are able to perform better when managing third party funds.
3. What are my fees and costs if I pass the Challenge and make it to Phase 2?
The initial sign up fee is the only cost the candidate will have to pay (and the Challenge fee is refunded upon successful completion). Again, Savius will not ask for any deposit or any capital contribution. Furthermore, Savius will absorb the costs of the trading platform, the charting software and the Professional market data fees (all these fees are deducted from the account balance but not charged to the trader if account is negative). The only other fee for the trader is the bank wire or Paypal fee (depending on the amount is paid out) which is deducted from the trader share.
4. Can I trade from my house or do I have to travel to one of your offices?
Most of our traders are remote traders. Each trader is responsible for his/her own trading desk, equipment and internet connection. We monitor our traders via proprietary software and communicate with them mostly via Skype or Email.
5. What’s the difference between the Junior Savius Trader and the Senior Independent trader program?
Both programs represent our current main recruiting channels. Both programs offer the opportunity to trade Savius funds at zero risk or cost for the trader. The Senior Independent program was created due to the overwhelming demand from experienced traders that are looking for backing and a professional environment where they can grow and thrive. This program is for those who have already a profitable strategy and can prove they are consistently successful. No coaching is needed or required under this program but you will need to make sure you have the necessary skills to pass the Challenge and the subsequent assessment period.
On the other hand, if you are not happy with your current approach, or simply need a more comprehensive solution (train and trade), the Junior Savius Trader path is for you. There is a nominal fee for the coaching material and support but under this program the objectives are easier and you will receive closer supervision. You will be encouraged to follow and trade our methodology (though not mechanically nor exclusively) and you could also receive a small compensation during the training and assessment period if we like your results and trading approach.
Important note: the Junior Savius Trader program is for intermediate and advanced traders only. For this reason we expect that many candidates choosing this program will end up using (both during the selection and evaluation period as well as during the Live Trading period) a mix of their preexisting approach and the Savius approach.
6. Why do you charge a sign-up fee to participate in the Live Challenge given that it’s a recruiting tool?
The reason is twofold:
- By charging a small entry fee we are able to effectively filter out the less serious candidates and avoid wasting our resources on traders that are not even close to being ready to enter the professional trading arena or that are only interested in playing with a free simulator (if you are not ready for the Challenge or are simply interested in testing a strategy you can sign up for the PropTrainer and paying a much smaller fee).
- Traders who are willing to pay a small fee will be more motivated to follow a strict set of trading rules rather than facing the Challenge with a gambling spirit. We have received many confirmations on how a small fee can add the necessary pressure required to perform on a different level (please note that the entry fee will be refunded entirely to all of those who pass the Challenge and move to Phase 2).
7. Can you tell me a little bit about Savius trading methodology?
Our approach is mostly discretionary, very flexible and diversified. It comprises of a blend of momentum strategies and counter trend strategies– Our emphasis is all in the proper risk reward and the correct trade management. The majority of our Strategies have been programmed, as a semi-auto tool, on Sierra Charts and are available also to independent traders but only as visual alerts.
8. Do I need to purchase one of the coaching programs in order to register for the Live Challenge? Do i need to make a capital contribution in order to trade for Savius?
No. Our coaching is obviously recommended for everybody, especially for beginner traders or experienced traders seeking a fresh start, but it’s only mandatory under the Junior Savius Trader program. Differently from other Prop Firms, Savius does not require or accept any deposit or capital contribution from new traders. Once you join the firm you will strictly trade Savius funds.
9. What platform do I need to use during the Challenge?
As of now, all our seniors and juniors are using either the InfinityAT Trading DOM (ladder) or the SierraChart application to enter their trades. All our proprietary software as well as all the risk management tools to monitor both our live traders and our Challenge candidates are built on the above applications. We don’t provide access nor are able to monitor traders on any other platform.
10. Can I pick the time I want to start my Challenge?
Yes. The candidate is entirely free to select his/her Challenge starting date, once he has signed up for the desired program, as long as:
- He/she completes 10 consecutive trading sessions
- He/she starts within 2 business days after the registration for the simulator (not from the Challenge payment)
11. Does Savius offer a Live Trading Room?
We don’t offer a regular trading room at this point though we actively trade intraday. Some of our trainees and junior traders are often invited to see us trade live through a share-screen software where we comment our decision making and showcase our methodology live.
12. Do most traders who take the Challenge pass it and move to the next level?
NO. Trading is a very challenging venture and the % of candidates who successfully pass, even on a Simulator, is generally low. The challenge was devised to purposely select the best. Only those able to acquire the proper mindset and master their strategy have a chance of making it and thrive. Other factors will also determine your chances of success (ex. market selection, volatility during the simulated trading sessions, etc.).
13. Can you explain what happens right after I pass the Challenge?
This is a very common and important question. Upon successful completion of the Challenge (meaning you have followed the rules, risk parameters, and reached the preset targets) the so called “Phase 2” begins. Phase 2 is a more in-depth assessment period. It will last 30 days (20 full trading sessions). You will be asked to continue trading on a simulator during this stage and have new profit objectives to achieve in order to start trading Live. Live Trading (Phase 3) will start only after these goals are achieved. If you are able to meet your targets, you can expect to start trading live on average within 60 days from the Challenge successful completion. Please note that we only start new live traders during the first 10 trading of the calendar month (ex. if you passed the Challenge on December 1st you wont go live till February 1st).
14. What happens if I am profitable during Phase 2 but I fall short of the official profit target?
Officially we will only move to Phase 3 (live trading) those individuals who have reached the full given target. However, Savius is constantly monitoring good traders and always looking for talent to add to its team. The candidates who don’t reach the official target but show skills, a solid approach and good risk management will have the chance to join the team under the Junior Analyst Program, through which they will be paired up with a Senior Trader who will continue monitoring their Sim activity and duplicate the trades he deems valid on his own live account. Within a short period of time, the JA could have the opportunity, if profitable, to move to Phase 3 and trade an account independently.
15. I feel like I am a pretty decent trader and could make it professionally but I fear that the short duration of the Challenge will not give me the opportunity to fully show my skills and method; should I sign up for the Challenge anyway and hope to get lucky?
This is a very common observation and, while we had to limit the Challenge to a relatively small time window, we do realize that the restrictions could not give many of our candidates the proper shot. Our primary objective is to find talented traders to add to our team, therefore, if we notice that one our candidates shows potential, we will always keep an open mind and an open door.