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Anyone interested in me trying the get funded scams?
See above- that's not how they make their money ................. sadly
They dangle a carrot and piss on your dreams then charge you to get back in ...........!
Can you help answer these questions from other members on NexusFi?
So.. in my live account I am doing very well with my option combos and my nasdaq shorts. I had staying power in both where in the top step combined I am trapped and cannot do anything due to a daily loss limit.
I have never adhered to a daily loss limit in real trading but I can see how an hour or two to cool off and get off tilt might be a good thing. I do not use stops in my trading and the force liquidation has does nothing but piss me off especially since the nasdaq sold off well beyond my average price of 14,470!!!
I had to take a loss on my 5 micros to then sell a full size mini to get more leverage and then I went for it. But I'm happy to see my original statement from yesterday about selling rallies in the stock indexes held true.
I may need to avoid the open due to these ridiculous low loss limits.
Has top step ever thought about adjusting the 1000 dollar loss limit based on volatility ? Doubtful
It is on me though 100% rules are their rules and I traded it badly based on their rules.
Check the details again of the equivalent $50K E2T Gauntlet recommended the poster after me and you'll see the daily loss limit is $1,100, not much different to Topstep's $1,000 DLL. They both have the same maximum account drawdown of $2,000.
Yes that is a limit on the sim accounts but not on a real funded account. On the sim they may delete that day if it looks like what they call "sim abuse" in the FAQs pages, so taking advantage of optimistic sim fills. If trading over 200 contracts a day with real money you'll know the trader would be better off leasing an exchange seat which I believe is a lot cheaper these days than it used to be.
No, check the rules. If you have a winning day in a sim account which exceeds 40% of the profit target then that will increase the profit target amount until the largest day is no more than 40%. It still counts, just either trim back the winning day profit before the end to come back to below +$1,200 on the day for the $50K, or make a little more.
The rule was brought in to stop people going all in on day one to make the profit target which can be done with current volatility, and resetting repeatedly until they do it, then trading for a tick for the rest of the days to finish.
The 40% rule is only on the sim accounts, not applicable on real money accounts.
If you look at E2T for comparison, they also have a consistency rule, but with them it is 30% max.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
That's why I suggested Take Profit, currently $102 after discount for $50k with 4% trailing drawdown and 2.2% daily loss limit, 6 full and 60 micros, minimum 10 days and $3000 target, most profitable day not more than 50% of total profit (not a fail, but simply doesn't count toward 10 days). All seems very reasonable. Regardless, good effort ;-)
They have standard Ninjatrader or Tradovate commissions with those brokerages if you compare their Funded Trader FAQ page on comms and fees with the brokerage's own commissions pages. I assume Cunningham is the same.
Topstep have always used a fixed number of contracts whatever the product. People complain on their Facebook page about Micros not being ten to one and Topstep used to say they were thinking about changing it but now they seem to say due to the much higher fees/tick size they think that it would be unrealistic for most people to trade large size anyway on the Micros.
E2T does give 10 to one equivalency.
Apteros is one company I am aware of that uses margin for their $50k test, but it is full margin so $15K for one NQ, but you could do a lot of MNQ.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Try Earn2Trade, i am working on the trader career path right now. I tried leeloo and got a bad feeling after failing one evaluation, like you said, could it be a scam? some people make money with it..
Earn2trade seemed like there were actual resources to try and help you get better, which puts me a little more at ease, although I could definitely see people falling into a perpetual reset trap and never getting anywhere.
I figure you have to pay for data anyway even if you are trading your own capital, why not pay a little more and get evaluated for a funded account. Atleast thats how i sold myself on taking the Earn2trade career path eval.
The issue is that you must follow their rules instead of them actually taking risk and staking you. Like jer we are letting you work with a demo account. You can lose 5k but if you do the account auto liquidates.
That would be pretty simple
If you want some type of evaluation or validation it will be in your profits or your losses.
On my demo top step acctm today I was batting 100% on about 10 scalps then I got cute and maxed out a trade in the nasdaq on the open off the Dom without even looking at a chart. I would never do this in real life money accts.
My trading to day was newb all the way because I felt pressure from their rules not from the mkt.
So I just read the rules slowly and it looks like I already failed the combine challenge because it says do not hit or exceed the 1000 dollar daily loss limit and I did both of those today on the first day. I don't understand how with a 50k account they don't allow you to just take a 1000 dollar loss and make it up the next day or so.
I never thought letting it run to 1000 loss would mean. I'm out of the game. But that's their rule.
. If you have a winning day in a sim account which exceeds 40% of the profit target then that will increase the profit target amount until the largest day is no more than 40%. It still counts, just either trim back the winning day profit before the end to come back to below +$1,200 on the day for the $50K, or make a little more.
