LOL bro sizing up is a process that needs to take your stats into account
TopstepTrader Q & A
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That still doesn't make the daily loss limit the same restriction as the max draw down and it isn't fair to say it is basically the same.
With a $3K per day loss limit you should be able to build up a nice balance that you can withdraw to fund your own account so you can be as reckless as you want.
Well tell that to the damned proprietors of TST! They let you go 10 right off the bat!
I say NO! You should be able to start with only 1 contract, and then eventually, when you get to max uber level of trader, 3 contracts max! FFS! The markets are TOO VOLATILE to handle this model for the trader.
These companies were designed when the ES ranged 5 points per day. Now it ranges a hundred points per day.
Different world, you need different rules. It is proof that TST does not want profitable traders...They just want reset fees!
at the least the drawdown should be a percentage
I agree and I also don't like these kind of funding companies.
On the other hand, not one saine experienced trader would trade 10 contracts with a $3K daily loss limit. At least not in these market conditions.
They know they mostly attract new traders or traders who constantly blow out their own accounts and designed the rules around that.
If you stick to proper risk management $3K loss limit per day is more than enough.
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I don't see how that would make any difference.
If they say you can lose $3K or you can lose 3%, the amount stays the same.
Even if they say you can lose 3% until you make 3% then the trailing draw down stops trailing, that only gives you $90 extra.
I suddenly got into a creative bent. Let's see if I can make this make sense...
It's a sing-along, in a manner of speaking...
-----------------
It's the year 2022.
But where are the profitable traders??
I was promised profitable traders!
I don't see any profitable traders!
Why? Why? WHY!
Because millions of people all over the world
have been fooled into over-leveraging their account,
24 hours per day, 7 days per week.
We don't need over-leveraged accounts,
But we will need a different kind of prop firm!
---------------------
It's a sing-along, in a manner of speaking...
-----------------
It's the year 2022.
But where are the profitable traders??
I was promised profitable traders!
I don't see any profitable traders!
Why? Why? WHY!
Because millions of people all over the world
have been fooled into over-leveraging their account,
24 hours per day, 7 days per week.
We don't need over-leveraged accounts,
But we will need a different kind of prop firm!
---------------------
3% is useless
That depends on how much risk you take.
If the trader makes $10,000. The account over its lifetime cannot reach $100,000 (starting balance) and the Daily Loss Limit would limit you to $3,000 of loss per day. There is no Weekly Loss Limit and the Trailing Loss Limit disappears at this point.
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