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New York Lawyer turned Trader

New York Lawyer Swaps Litigation for Prop Trading

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Litigator or Trader?

One of our new funded traders is EVA Tompkins from New York. She is an ex-lawyer who took up trading initially to fund her retirement. Now she has won prop funding with Funded Trading Plus. This is how she passed our prop funding evaluation.

Eva joined our Experienced Trader Program. This is a one stage evaluation and as you can see from her equity chart she had the account for 21 days but for many of those days she was happy just to take a few trades and tick the account along. Her account took off when market volatility increased and we saw big falls in index markets, particularly the NASDAQ and she judged this perfectly, taking both long and short trades to accelerate her equity up into the target. This is what won her prop trader funding.

Eva Tompkins

Table of Contents

Her Prop Trading Statistics

When we look closer at her trades we see she has a respectable 62.65% win rate and there is not a significant difference between her average winning trade and her average losing trade. In total she took a significant number of trades – just under 1,000. 

Trader Equity Curve

Eva’s Prop Trading Success Story

We interviewed Eva to get a better understanding of her, her trading and what tips she has for other traders looking to win a prop trading funded account.

Why did you pick FT+?

The rules for Funded Trading Plus, in both the evaluation stage and after funding are more simple and more fair than other funded trading programs that I have seen.  Other programs have rules that appear to force unnecessary pressures and constraints on the trader that appear to be counterproductive to a trader’s long-term success.  Other programs have rules that appear to set traps for the trader that generate more evaluation fees for the program provider and seem geared more toward fee generation than a trader’s long-term success.

Please give us a short history of your trading

I am a retired New York lawyer.  I began trading stocks in 2013.  I learned to trade Forex in 2014, and Futures in 2015.  After having demonstrated consistency in my trading over a period of time, I retired from the practice of law and I have been trading full-time since my retirement from the practice of law in 2016.  It took me approximately two years to become consistently profitable.

How would you describe yourself as a trader

I am mostly a short-term technical trader of Forex and Futures, though I also swing trade stocks and Forex.

Why did you originally start trading and what are your future goals?

I originally learned to trade in order to better manage my retirement and long-term accounts, and I fell in love with trading so much that I began to feel that the practice of law interfered with my trading, which prompted my retirement and to focus exclusively on trading for income as well as wealth generation.

What has been your biggest trading success?

I consider consistency in the application of my rules and process and steady improvement to be my most important success in trading.

What has been your worst trading experience?

Early in my trading career, in 2015, I was long the USDCHF when the Swiss National Bank pulled its peg of the Swiss Franc to the Euro.  The USDCHF crashed and trading was halted.  I lost $4500 in that terrifying event.

What is the main strategy that you use?

My main strategy is to trade with the trend or the momentum of the day, entering on pullbacks to supply/demand or support/resistance with confirmation using order flow tools and small time frame charts.  I also watch for trading opportunities at VWAP, the prior day’s high and/or low, 30-minute or higher time frame supply and demand zones, the RTH opening tick, and the initial balance high, low and mid.  Most of my intraday trading is scalping in accordance with the above methodology.

Do you have systems to help money management and trade planning?

Yes.

Do you keep a trade log/journal and has it helped you?

I keep a journal of my longer-term or swing trades.  I do not usually journal my scalp trades.  Journaling my trades has helped me to improve over the years.

Can you describe a typical trading day?

I begin my day during the London session, trading primarily Forex, and focusing mostly on the EURUSD and GBPUSD, and the NQ.  I look at the Daily, 4-hour, and 30-minute time frames and mark out supply and demand or support and resistance on these charts.  I note the trend in these markets based on these time frames, or if these markets are trading in a range.  I look at what the US Dollar is doing in terms of trend and location.  When the New York session opens, I focus more on trading the NQ, with an occasional glance at the EURUSD and GBPUSD.  At or about New York’s lunchtime, I walk away from the screens and do other things.  In the evening, I look through many Forex pairs and scan through stocks to look for swing trades with the trend using the Weekly, Daily and 4-hour time frames.

What advice would you give to an aspiring new trader?

When planning your trades, look to target achievable pips/ticks in order to build confidence and consistency in your trading.  Journal your trades, your trade management, and your emotions when trading.  Mindset is a significant part of successful trading.  Always work on mastering your mindset and developing a positive and constructive trading mindset.

What are your top 3 tips for passing a funded trading test?

  1. Keep your losses small.  Do not allow a large loss that will be difficult to make back. 
  2. Do your best to ensure that your winners are larger than your losers, excluding scratched trades. 
  3. Keep your position size per trade small in the beginning of the test, and increase it slowly once you have banked more profit.

Our YouTube Interview with Eva

Final Note

We wish Eva good luck with her trading and we hope she continues to generate a positive equity curve as this is her route to generating her own wealth from prop trading.

Please feel free to comment on Eva’s success and how you may try win funding for yourself.

Would you like a free Funded Trading Plus Experienced Trader Account? Check this out.

8 top tips to help you pass funded trading tests.

This trader passed funded trading evaluation in just 2 hours!  

Learn about Proprietary Trading

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