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Days Remaining: 1... I will complete this one Monday and be trading my live account with them...maybe... before the end of the week.
OneUpTrader ($250k Account)
Today: $768 // micros only
Total: 15,865 // target beat... still working to add about $750-900 daily via trading micros only
Days Remaining: 11
LeeLooTrading ($300k Account)
Today: $7,282 // mini & micro
Total: $11,696 // 8,304 remaining
Days Remaining: 8
LeeLoo is a an absolute beast to beat. In addition to having and intraday PnL, they have intra-trade tracking... Meaning if you have a $1k stop loss remaining... You enter a trade, it advances 1500 and closes with a 500 profit, YOU LOSE. They trail against your unrealized profit.
Needless to say, it took math and chart study time for me to to figure out how to trade and beat that. // After 2 days of active trading on that account, I still have my full $7,500 drawdown available, taking 5-10pt shots in the NQ...
As for my trading style, it has adapted significantly, and so have my tools... I have added Trading View for charting my multiple time frames, moved from Renko to minutes for charting and still use Renko on MultiCharts for order entry. I am manually entering trades on 3 separate accounts in 3 seconds or less.
The biggest and best change introduces has been...
Trend Lines: I line the hell out of my chart... Everyday, I clean my charts and look at the daily, 4h, 30m major S/R. Then I look to the 5m for minor support. I lay Fibs on the 5m previous swing high/low... And identify tiny trends in the 1 minute. // I watch the tape and momentum previously identified S/R. And trade accordingly.
Leverage: I am using way less leverage than is available to me. This has permitted me to open my stops up to better absorb swings, and scale in if I see stronger setups occurring. It also leaves me free to hedge my trades for improved performance: 10:1 micro/mini hedge for example. Needless to say, it is a lot lower stress managing trades this way.
Well, that's it for now... gonna head out for a walk and enjoy the weekend.
The only funded rules I’ve heard people state are:
- follow the scaling plan
- 90 day probation
- 15 day checkins where you have to be profitable
So with that last bullet, you can lose the account without hitting the stop or scaling wrong. Personally, I’m all for profit and if I’m not in the black after 15 days, I’ve got no business day trading.
One thought though, and this applies to all these funding guys, withdrawals need to leave a proper safety margin.
Until I see someone actually 'say' what lost them their account, as compared to a rant, I have to assume it's legit..
****** ALSO NOTE ************
OUT charges $5 commission on micros.... so no tiny moves or commissions will eat you alive.
Question on the Topstep funding - sounds like you are going right into the Funded account instead of Pro? Just curious. If so, I thought there was about a 2 week wait to get a funded account set up (you mentioned be trading live by end of the week). Just curious I guess if you are going Pro or Funded, and if you heard anything about accounts being set up quicker than 2 weeks?
I'm also in $150K, Step 2, day 5, and about half way there on profit. Looking forward to passing.
And you are right LeeLoo is a beast. Im thinking about doing the $74 LeeLoo express, have done it before and that trailing stop got me a few times so I gave up on it. The cheap price though... they definitely know how to get people in.
Forget all these companies.... you will just lose a lot of time and energy. In less than one week after going live you will blow up.
Trust me, there are too many rules, it makes no sense to trade with these.
Also, with the exclusion of TST the rest will not even transmit your orders to the market.
By the 20th of September you will go back to start a combine again. Put 3000 bucks in a real account and trade the micros.
I do plan on doing the pro account. I know a few folks that had it going in about 2 days, then just a few more days from Pro to Funded. I like the idea of walking into the actual funded account having already beat the trail.
As for LeeLoo, I think I have it figured out. Time will tell if course.
I can’t say this enough, esp when I hear folks ranting about blowing up their funded accounts. The rules seem okay, so long as you don’t over extend yourself. Too much leverage just eats away your ability to really manage a trade.
Also, if I were either funding a live account, or launching trades alongside your trades like folks complain about with some firms, I’d have rules on how YOU risk MY money... and I’d fire you for breaking them. From my perspective, so long as they pay, it’s a win.
As I do plan on keeping a cushion after withdrawals to help prevent blowing the account, and those withdrawals will go to my personal account to trade under a more favorable tax situation.
*** looking for opinions ***
Should I continue this journal for my funded account progress, or start a new one to let people know what it’s like trading for those companies?
Cool, after I posted I kind of figured you must be going Pro first, seems like the move most people make and makes sense for sure. Same plan for me, go pro hopefully turn it into funded within a week or 2 then roll into funded with a balance, and use it as a buffer.
I passed TST once before and went pro, they had it set up within a day. I managed to blow it up within 2 days basically going big, lot of lessons learned. 100% with you on not trading the full size just because you have it.
I'd say start a new journal once funded, just seems like a clean start, almost like graduation. Can just put a link to the new journal as your final post in this thread.
Starting a new journal sounds right. I would wait a few weeks before doing so, however, and stick with this thread for now just in case you blow up your funded accounts and have to continue on with getting re-funded. That way you can start the new thread with a lot of detail with your experiences.
Thanks for being so detailed with your posts. We all really appreciate it.
Wishing you nothing but well, of course, Doyal, but I must say that the above thought, or something pretty like it, more or less represents my own instinctive reactions, having been following your thread for a while.
Hope you don't mind being asked, but why are/were you trying to qualify with three different companies (with three different sets of rules) at the same time?
The potential disadvantages are all too apparent; clearly there must be advantages, too - or you wouldn't be doing this - so I can't help wondering what they are?