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Not really, you have to leg in or out if using NT.
I trade spreads with CQG, NT is more of a hobby personal use system.
Sody
"The great Traders have always been humbled by the market early on in their careers creating a deep respect for the market. Until one has this respect indelibly engraved in their makeup, the concept of money management and discipline will never be treated seriously."
"The great Traders have always been humbled by the market early on in their careers creating a deep respect for the market. Until one has this respect indelibly engraved in their makeup, the concept of money management and discipline will never be treated seriously."
I hit $7.5K in profits today. Only $1.5K in profits left and I have 7 days left of the program.
In fact, I could easily have completed the program today, but had to take profits sooner than I wanted as it would give me trouble with the "consistency" rule if I made too much today.
I think maybe I'll sign up for LeeLoo now and run a program simultaneously there while waiting. Their rules seem even better.
If I can extract 8 + 8 K from both it would be great for my personal account.
I've been funded with them for about 3 months now. Good operation, I mean it's pretty bare bones meaning you don't get a nice dashboard or anything like that, but it's reflected in the cheaper prices. Withdrawal rules on the funded side are what usually turn people off, there's a waiting period and only can withdraw once per month, vs all others are weekly or better.
I was one or two days from hitting target, but found myself on the wrong side of the market with a tad too much size (5 contracts). As the story often goes - I was actually stopped out about a point from where the market reversed. And I knew this was likely, but when you have size on you simply can't use very wide stops. Took a 3K loss on the day and it was my first losing day on the program.
I'm still in the game and expect to reach my profit target, but will take it easy moving forward and not take on too much size. Mostly, I've been trading 1-5 contracts with a few times taking on 10 contracts with a tighter stop. I never did the maximum of 15 contracts and I think this is probably key for making it in these combines. Taking on max size is usually what gets you in trouble...
The last few days have not been the best for day trading ES either, so I do hope volatility picks up a bit in next week, although seasonality may suggest otherwise. Let's see.
I completed the evaluation successfully on day 15 yesterday.
So, to summarize, I paid $350 to have $5K of day trading margin.
I'll be taking it nice and easy with the live account - probably not trading it aggressively until August both because the volatility isn't that great now and because I'll be taking a holiday soon.
I also have a LeeLoo account I'm trying to get qualified on, too. I have 2.5K profits in that one. Just taking it nice and easy.
With regards to the thread topic - I'm not sure what's next long term. Do I simply withdraw as soon as I have 8K of profits or should I simply keep the money in the account and see if I can grow it...?
I did not read every post in this thread, but a trader would be better off putting a few hundred dollars into a personal account and trading micros as opposed to using firms like Topstep. Then if you "blow an account" it's a few hundred dollars, fund it again and start over.
As far as size and "trading big" nearly every retail trader would be better served just trading small, managing risk, and managing money. A winning strategy with micros can be scaled up to a full mini for 10X and then 10 minis for 100x. Even at 10 minis, the market will not notice you at all.
Slippage? I get no slippage with my limit orders, I don't even remember the last time I used a market order. I'll place a limit stop, and have a "disaster SL" market order way further down if the limit does no get filled. 99/100 times the limit stop will get filled.