100%, certainly with business were you have to pay for more then 1 step or have different rules once funded vs evaluation or you have to survive the trailing draw down 3 times or more.
Topstep: Funded Traders = 1 Step
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100%, certainly with business were you have to pay for more then 1 step or have different rules once funded vs evaluation or you have to survive the trailing draw down 3 times or more.
"Fastest program to funded and its not even close". How was that measured, in comparison to what, and where is that data? Thanks!
I assume they mean minimum trading day's required. Most other companies require at least 10 day's.
However i dont see that as an advantage, it encourages traders to trade too much size. These kind of funding companies allow 6 to 8 contracts at a time for their $50K accounts while setting a maximum daily loss of something around $1K.
Think about it, that´s crazy. 6 contracts is $300 per point in ES, a 4 point pop can happen in seconds in these market conditions and boom, you loose the account.
Surely it is the traders responsibility to use proper trading size, but if they care so much about their traders, about consistency and protecting their traders with all kind of silly rules, isn´t it funny they encourage them to pass as fast as possible.
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That has been my complaint with them all along. You don't give someone the ability to trade 6 contracts on 50K. It's nuts in this environment. Those rules were developed when the ES ranged 5-10 points per day. Those days are OVER.
You pretty much have to build an equity buffer in order to trade the increased size it’s capped at 2 contracts, the 50k account require $1500.01 in positive equity for example, funded account technically starts with $0 and you just have the max contracts for the day until you reach certain PNL thresholds, so when you’re at $1500.01 you can trade 3 contracts now, does can mean you should, nope you shouldn’t until you think you can increase the risk with your pnl buffer. $2000.01, you can trade 5 lots. Should you again, with only $2000 no.
You should never leverage your self like that. Everyone loves to compare it to $500 margins but that would only give you 4 contracts, top step still gives you more you just have to build to build the account first.
edit: I added a paragraph
You should never leverage your self like that. Everyone loves to compare it to $500 margins but that would only give you 4 contracts, top step still gives you more you just have to build to build the account first.
edit: I added a paragraph
"Fastest program to funded and its not even close". How was that measured, in comparison to what, and where is that data? Thanks!
Traders can trade micros if they'd like to help them better manage risk.
If we are trying to create hypothetical traders who have poor risk management then they will have a hard time passing any test regardless of what the rules are.
We can also hypothetically create a trader who has adequate risk management and only trades one lot or a handful of micros and does just fine in our program.
In regards to Topstep "encouraging traders to pass as fast possible", if we were going to do that then we would have a maximum # of days set. Then people would feel obligated to rush through the program as they approach their final day. But with no maximum traders can take their time.
This is calculated by taking the minimum # of trading sessions required to pass a step of our program.
So Topstep requires a minimum of 5 traded days in Step 1 and a theoretical minimum of 3 in Step 2. Some companies require up to 15 trading sessions.
The TMDD for the Funded Account doesn't move intraday but the loss limit of it will trigger intraday. So it basically operates the same as the Daily Loss Limit in that regard. In the Trading Combine you can break the loss limit of the TMDD but as long as you finish above it by EOD then it won't trigger a violation. Everything becomes intraday once Funded but the TMDD doesn't move intraday.
We have some traders who do exceptionally well but most of the time they will take the payout and seed their own account which we are fine with. We post all payouts in our Discord for full transparency.
Ultimately though, I wouldn't look to other traders success as a measure of what our program offers. Every trader can trade their own methodology so if the payouts aren't wowing you you'd have to ask the Funded Traders why they aren't trading better.
I think the value of our program is really for newer traders who are getting a great value in $/hr when it comes to screen time. If you can pay $165/mo and make a bunch of mistakes it is far more cost effective than opening a personal account and paying full price for mistakes. Obviously some traders sole purpose is to get funded ASAP and they end up making the program very expensive for themselves.