So they did not exist before May 2019?
Choice between Topstep and Oneup ?
- Thread starter Saxio
- Start date
So they did not exist before May 2019?
How much profit are you looking to make in just a few days that you can't wait for 30 days before making the first withdrawal?
I really don't see why one withdrawal per 30 days would be an issue.
I have no idea when LeeLoo first started and I don't see how that is relevant.
"...Resets?
If you hit your max loss and reset your account, your Initial Balance is reinstated. (not your expiration date which remains on the same schedule to auto renew every 30 days). At this point you would need to both reach the full required profit target with at least 10 more days of activity without failing the account. Former days of activity before a reset are not considered.
- What is considered a ‘Day’?
Your Evaluation begins the moment you submit the purchase. And it renews (or expires if you cancel), 30 days later. The $77 Express promo however, is active from the moment you purchase the account, and will expire 14 days later at midnight Eastern Standard time zone (USA). You have the entire 14th day to trade..."
Oh well.
Well what?
And that "scaling fashion" is what will get traders into trouble. DON'T DO IT.
That all depends on the account size and how much profit, aka draw down, you have in the account.
Why would it be a bad idea to hold 1 ES contract or 10 MES contracts overnight when a traders has made $20K in profits?
These programs certainly ain't a scam, but it's no doubt that the main business model is to generate income from failed traders. And honestly, I don't see the problem with that. They offer an opportunity. That's all.
However, it's clear that many of these programs do more to make the trader fail than others. It seems to me that TopStep puts up a ton of hoops and limitations for you - no doubt making it harder for you to succeed. Also, the evaluation period is longer than with some of the other programs.
If you look at the 150K account from OneUp - you basically pay $350 for $5K of margin assuming you make it in 15 days. And I'd say that should be quite realistic if you're a good trader.
NOTE: It's not really a 150K account. You have a 5K trailing drawdown. That's what you're trading. A 5K account.
Assuming you actually get funded, it seems like the logical step is to simply withdraw your first 8K and put it in your private account as there doesn't seem to be any way they're letting you trade any more size without risking your own profits. In other words - no incentive to keep your money at the firm and no way to become a big size trader other than risking your own $$$.
However, it's clear that many of these programs do more to make the trader fail than others. It seems to me that TopStep puts up a ton of hoops and limitations for you - no doubt making it harder for you to succeed. Also, the evaluation period is longer than with some of the other programs.
If you look at the 150K account from OneUp - you basically pay $350 for $5K of margin assuming you make it in 15 days. And I'd say that should be quite realistic if you're a good trader.
NOTE: It's not really a 150K account. You have a 5K trailing drawdown. That's what you're trading. A 5K account.
Assuming you actually get funded, it seems like the logical step is to simply withdraw your first 8K and put it in your private account as there doesn't seem to be any way they're letting you trade any more size without risking your own profits. In other words - no incentive to keep your money at the firm and no way to become a big size trader other than risking your own $$$.