Topsteptrader

[Xela]

If I earn the $30K funded account:

1. And make $5K profit, do I get a check for 100% of that $5k when requested.

Yes.

2. Is there timeframe I have to make money?

No.

3. What is my drawdown amount?

During the first 10 days actually traded (not at all the same thing as calendar days, of course) of a funded "$30k account", your maximum permitted drawdown is $1,500 (and your daily loss limit is $500). After 10 days, there isn't a maximum permitted drawdown, but your account balance isn't allowed to go negative overall. There's no weekly maximum permitted drawdown rule for $30k accounts.

As you make profits, your maximum permitted lot sizes and daily permitted drawdown amount gradually increase, and are not subsequently reduced by choosing to withdraw profits.

 

[p0box4]

Indeed Xela, however on question 2, there actually is a time frame to make money as you said yourself, you have to be positive after trading day 10 in both the funded trader program and the funded account. So within the first 10 days you have to build a little equity so you can keep trading after.

 

[Xela]

So within the first 10 days you have to build a little equity so you can keep trading after.

Indeed - the equity you build during the first 10 days traded, with the live account, is hugely (you might even say "artificially") important.

 

[SimpleMeLike]

If you earn the funded account and you make 5k profit you can withdraw the 5k and keep 100%, however you need to keep money in the account to be able to keep trading.
With a 30k combine the drawdown is 1.5K and you need to be positive after 10 trading days, the money you have in the account by then is the maximum drawdown.
So for example if you manage to make 500$ during the first 10 days of the funded account your max drawdown will become 500$ from that point for day 11.

.

Thank you RDK91 for your response.

Using your example of max drawdown of $500 after day 11. My account balance is now $30,500.

1. If day 18, my account is now $30,000, will I be removed from the funded account service?

The way I thought was once earned fully funded account, you start off with $30k, with drawdown of $1.5k.

Thanks

 

[SimpleMeLike]

Indeed - the equity you build during the first 10 days traded, with the live account, is hugely (you might even say "artificially") important.

Thank you,

Maybe I am confused. Why is equity built in live account so important after 10 days?

If my balance is $32K after 10days, shouldn't my drawdown still be $1.5K on the $32k

I hope I am not confusing anyone.

 

[Pekelo]

Why is equity built in live account so important after 10 days?

If my balance is $32K after 10days, shouldn't my drawdown still be $1.5K on the $32k

There is no balance (30K, 50K whatever), or put it more correctly, your DD is your balance. And after 10 days your profit made during the 10 days becomes your DD, aka "balance."

That is why those 10 days are so important.

 

[p0box4]

Had a not so good day today, market was very slow after US open and i was waiting for a solid break below 43,2 in CL. Stops were too tight and should have waited.
Missed 1 good entry in ES.

Down 496,8$ so the balance now is 19,04.

 

[SimpleMeLike]

There is no balance (30K, 50K whatever), or put it more correctly, your DD is your balance. And after 10 days your profit made during the 10 days becomes your DD, aka "balance."

That is why those 10 days are so important.

Thank you Pekelo,

You explain well.

So the benefit is that i am risking their money, and i have 10 days to do it? And after 10 days whatever in my account, i can lose, then restart the combine again. I belive I understand now.

 

[SimpleMeLike]

Had a not so good day today, market was very slow after US open and i was waiting for a solid break below 43,2 in CL. Stops were too tight and should have waited.
Missed 1 good entry in ES.

Down 496,8$ so the balance now is 19,04.

Thanks for update. I'm sure you will do well going forward.

I was able to get the short on ES.

 

[p0box4]

Thanks for update. I'm sure you will do well going forward.

I was able to get the short on ES.

Thanks, yes nothing to worry about just yet, losing day's are normal