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Hi, this is just my personal opinion, they have some tools like smart-dom and smart-tape, which should be helpful for orderflow-traders, also some orderflow-indicators, you cannot find with other platforms.
Of course SC and IRT are very good platforms. I've used SC years ago, ok they are looking as they came from 18th century (which isn't important for good charting) and I like how less resources SC needs, but to know how it works takes a long learning-curve same with IRT it isn't easy to learn, but if you know how to use, it is a great tool. Why I wouldn't use SC is they don't support industry-leader data-provider anymore, just that their clients have to use their data-source, I guess they want to become a broker on the middle term, like NT. But you get a lot for really less money. IRT costs you $ 125.--/month with all tools, so if you like this software, why not ?
OneUp Traders must have any 3 trading days' net profits total summed up to equal 80% or more of the largest day's net profit.
They call it "consistency" lol. A few times a year you can catch runner on ES (especially on NQ) that big so this would ruin your evaluation with these guys. This is good outlier but they don't think so. Ridiculous rule.
Earn2Trade Therefore, traders should build up a profit margin above the contract size they wish to trade, so that they have a buffer before they no longer can have a position of that size open. This will help prevent their account balance suddenly dropping to a level that doesn’t allow them to hold the number of positions they currently have open.
If traders open more contracts than their account size and profit levels allow, they will fail the examination.
Why these guys can't manage position size by themselves? Just don't allow to buy more than it's allowed.
TST If you attempt to enter an order that exceeds your Scaling Plan’s limits by chance, your trading platform will automatically reject the order. Imagine it; no more rule breaks for putting on too much size.
That's how you should do your job, Earn2Trade!
LeeLoo
Static drawdown. Nuff said. Gives much more flexibility if your system might have severe drawdowns or you wanna have big runners that sometimes turn into losers/BE.
Just looked a little into Leeloo as I never heard of them. One interesting thing is they state "All data and expenses are combined into a subsidized, monthly, all inclusive fee of $88." But they have different options when one actually achieves the funded account. support.leelootrading dot com/kb/a21/1_-i-qualified-whats-next-performance-account-overview.aspx For example there is an "accelerator" or "investor" account, and the "investor" account has certain rules on the initial payouts.
e2t has 25k discount running now. I took a bite and will update once I pass/fail. Also, they added consistency rule too.
Busted account: Misclicked on Motivewave and change the trading size from 2 to 10.... The contract size button was next to DOM lock button( I removed it now but it is to late.
I was up 700$ after 2 days needed 1750$ profit. I can not blame anybody for it.
Will go for LeeLoo next because they don't have crazy "gotch you" rules.
That’s not accurate. ..must have a positive pnl greater than ‘0’ at the end of initial 15 calendar days from account start date and in subsequent 15 calendar day intervals – you missed the ‘greater than 0’ part. So with your example you keep the 9.99k. Very clear in the contract.
I already blew up a few accounts, so I won't be using any more of my money to trade until I improve my trading. Such funded accounts like this seem to be a good alternative.
But I think that anyone with at least a grand is much better just trading the micros, 2 contracts/k, you'll keep whatever you make, and it will take you a lot of work to blow that up.
During my OneUp evaluation I had two days where I could easily have made $5K, but I had to cut my profits short because it could potentially make things difficult for me because of this rule.
That said, I do understand it as I suppose the idea is to weed out traders who got lucky with one large winning day. It could perhaps have been lower, though, i.e., 60% for example.
Fingers crossed. But barring any severe.. tom foolery.. i should be getting funded through TopStep here in 2 days.
Main complaints are the rules really are stacked up against you. Like let’s say you start the combine on a 50k account that i’m pretty sure has a 1k daily loss limit and 1500 weekly loss limit. On an account capable of trading 5 contracts in the first step you really need to be cognizant of your sizing, positioning, and entries in order to be successful. You’re really only trading a 1k account. A 3k account in 150.
If you couldn’t tell by now i started with the 50k account and after an unsuccessful amount of resets i upgraded to the 150k account after about three weeks which affords a 3k intraday or daily loss limit and either a 4500 or 3000 weekly loss limit depending on the step (i may be blending the max trailing drawdown and the weekly loss limit). This also affords up to 15 contracts off the bat in step 1.
Now, i can complain about the rules all i want. But honestly they have made me a better trader. As someone who’s traded mainly index options since 2017 this was an adjustment. I had never set a daily loss limit, more or less a weekly loss limit. Given a shit about econ releases. The one thing i really have qualms with is not being able to hold overnight. I understand why, but as long as good risk management is utilized (aka stops and sizing) the risk of holding from 5-6 EST isn’t THAT high.
It does feel like at times that the odds are stacked against you. But especially with the practice account you can get as many reps in as you have time inconsequential to the combine and your evaluation.
My main issues as a trader as being impulsive, impatient, and sometimes emotional. All detrimental to the longevity of a trading account. The limits, just by pure PTSD at this point have curbed a lot of that and also shown me that it’s not a race. Take opportunities as they come and stay sober in your rational, analysis, and system.
Other qualms are the amount of ways you can get reset, and *each one* is $99. Easily you can fund a personal account for the amount you pay just in resets if you do not come with a plan and proven strategy. It would be nice to feel like TopStep had a vested interest in success, not just hearing the cash register after every reset. Don’t get it twisted; these companies make money off of the subscriptions, and primarily resets and they have a vested interest in not making the process easy.
I’m 2 days away from being funded. (Currently well past the profit target of 9k) and am eager to find out what comes next.