Review of One up trader

AHG_traderX · Nov 6, 2017

Michigander said:
I apologise for interrupting the current topic of contract duration
But, I just got my trial for 2 weeks and would like some clarification on this trailing drawdown - I have a 100k account with 3500 drawdown - If the trailing drawdown is applied to both unrealized and realized p/l - Isn't there a risk that it can close the gap and you no longer have 3500 max drawdown? - meaning that if you don't get out right at the top of a move - the trailing moves up but you got out lower - so the cushion is eroded -
can anyone clarify?
I want to trade the trial under a correct understanding of the set of rules
I tried posting my question in the social room in the application but you cannot post with a trial - it says - upgrade account
Also, with news (when funded)
They say before, during, after major news (symbol specific) -
So, for example FOMC statement -
Do you have to wait until after the close to open a position ?-
what's the definition/duration of "after"?
Thanks in advance everybody
This has been a very helpful resource -
great discussion!

Yes it is calculated in real time. Let's say you are at zero pnl and a trade goes your way and goes back to BE, the peak of unrealized profit that you have in that trade will be used to calculate the new min in your account (TST for example uses end of day which is fairly safer). This forces you to trail big winners or you might get caught very easily in the traildown.
Regarding news and this is only for funded accounts as explained in their website it is one minute before and after the release that you need to be flat. The gotcha is that the new rules which are not in the website makes very difficult to know when certain events finish (I cannot give more details as is against the contract), this is where they start being very shady and show that it is a bucket shop.

shiko2000 · Nov 6, 2017

AHG_traderX said:
Yes it is calculated in real time. Let's say you are at zero pnl and a trade goes your way and goes back to BE, the peak of unrealized profit that you have in that trade will be used to calculate the new min in your account (TST for example uses end of day which is fairly safer). This forces you to trail big winners or you might get caught very easily in the traildown.
Regarding news and this is only for funded accounts as explained in their website it is one minute before and after the release that you need to be flat. The gotcha is that the new rules which are not in the website makes very difficult to know when certain events finish (I cannot give more details as is against the contract), this is where they start being very shady and show that it is a bucket shop.

Cannot you ask them what news are expected today every day before trading starts and at what time? It does not sound reasonable that some news about which nobody knows make one responsible for avoiding those news. In this case they should let know when not to trade.

Michigander · Nov 6, 2017

AHG -
Thank you for taking the time to clarify -
I kept looking at the graph on the website and it made somewhat sense to me -
But I saw somewhere in this thread about the unrealized P/L being used and it got me thinking -
So, I'm good on it now -
Yes, you have to train yourself to grab and go - or else....
Thanks for the news "flat time" specifics -

AHG_traderX · Nov 6, 2017

shiko2000 said:
Cannot you ask them what news are expected today every day before trading starts and at what time? It does not sound reasonable that some news about which nobody knows make one responsible for avoiding those news. In this case they should let know when not to trade.

That's what I tried without any results so far unfortunately and why I have been so disappointed with their intention of making funded traders successful versus just sending them to evaluate again and getting more fees.

shiko2000 · Nov 7, 2017

AHG_traderX said:
That's what I tried without any results so far unfortunately and why I have been so disappointed with their intention of making funded traders successful versus just sending them to evaluate again and getting more fees.

Don't get it personal but it sounds unlikely. When one asks question what news to be avoided they have to answer. Another one is that for CL there is clearly only 2 news to be concerned about. If what you say were the real issue there would be more people coming and mentioning this. Anyway, when I start I am going to make all things clear in advance already for demo. There is basically not many news to be avoided. Often it is better to go for a walk until news are over especially on Wednesdays.

tf12325 · Nov 9, 2017

Long time lurker on ET, signed up finally to comment on this thread as OneUp has done right by me. AHG sounds a little butt hurt imo, I have been funded for a few months now. They aren't trying to screw you over, esp if you are good and making money. They make the rules pretty clear and if it was something that was grey I have found that they usually give you leeway at first.

The one guy further up on board is right, if you are a good trader and can manage your risk you just trade the bigger accounts with smaller size and you can relatively clean up if on a hot streak. From their message board you can tell the traders that blow out right away are throwing on max size on every position, which is a recipe for disaster.

Compared to the other alternative, it's night and day. As a funded trader they leave you alone at OneUp while you get watched like a hawk at TST, after having to get through harder parameters in the first place. Also, for anyone that has made it that far in TST they do the same type of trailing stop people are crying about...

TraderMat · Nov 11, 2017

AHG_traderX said:
That's what I tried without any results so far unfortunately and why I have been so disappointed with their intention of making funded traders successful versus just sending them to evaluate again and getting more fees.

Wrong again! You're such a liar. OneUp Trader in simple is a recruitment company. Whoever funds you has nothing to do with getting fees.

TraderMat · Nov 11, 2017

tf12325 said:
Long time lurker on ET, signed up finally to comment on this thread as OneUp has done right by me. AHG sounds a little butt hurt imo, I have been funded for a few months now. They aren't trying to screw you over, esp if you are good and making money. They make the rules pretty clear and if it was something that was grey I have found that they usually give you leeway at first.

The one guy further up on board is right, if you are a good trader and can manage your risk you just trade the bigger accounts with smaller size and you can relatively clean up if on a hot streak. From their message board you can tell the traders that blow out right away are throwing on max size on every position, which is a recipe for disaster.

Compared to the other alternative, it's night and day. As a funded trader they leave you alone at OneUp while you get watched like a hawk at TST, after having to get through harder parameters in the first place. Also, for anyone that has made it that far in TST they do the same type of trailing stop people are crying about...

I agree.

magicT · Nov 27, 2017

Hello,

if OneUp is a consumer fraud, why do anyone does a declaration to the SEC ?

When one pays for a combine trial, they do not delive a purchase bill with their datas which is weird.

Is there someone here who has succeeded to pass the 15 days and then to withdraw all the money earned ?

Reading this part of the rules: http://help.oneuptrader.com/knowledge_base/topics/profit-info

If someone choose the 50000 USD plan and makes 2500 USD of profit, he cannot withdraw the money as this is considered as the minimum amount of money to have a drawdown flat.

Thanks for your feedback !

p0box4 · Nov 27, 2017

magicT said:
Hello,

if OneUp is a consumer fraud, why do anyone does a declaration to the SEC ?

When one pays for a combine trial, they do not delive a purchase bill with their datas which is weird.

Is there someone here who has succeeded to pass the 15 days and then to withdraw all the money earned ?

Reading this part of the rules: http://help.oneuptrader.com/knowledge_base/topics/profit-info

If someone choose the 50000 USD plan and makes 2500 USD of profit, he cannot withdraw the money as this is considered as the minimum amount of money to have a drawdown flat.

Thanks for your feedback !

The withdraw limit is something like TST FTP, you are still trading demo until you reach the withdraw limit. I have received my funded account last week and only traded 1 day because of the holidays. The only sad this is, by accident i ended up with a 50% split instead of an 80%. I asked oneup if i could upgrade and they said no problem, however once i completed the evaluation account i got a message the upgrade wasn't valid since this was only for evaluation accounts that haven't been traded before.
I asked my funding partner if it would be possible to negotiate about the profit split % after some time of profitable trading, however this was declined.
My contract also had 1 rule not mentioned anywhere on the website of OneUp, a rule which i am not to happy about. So i must say i am a bit disappointed so far.
I am definitely stopping my account after i withdrew the first 5K, i am not going to give away 50% of my profits ...