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My Journey towards becoming a funded trader


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My Journey towards becoming a funded trader

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  #21 (permalink)
Dallas tx
 
 
Posts: 18 since Oct 2014
Thanks: 7 given, 29 received

Ok everyone... a lot has changed in the last 2 weeks...

I have spent a lot of time learning the NQ and getting my tail kicked, overhauling 'how' I trade, and have added a 3rd 'funder', LeeLoo, to the mix.

As of today...

TopStepTrader ($150k Account - Step 2)
  • Today: $750 // micros only
  • Total: $10,779 // target beat
  • 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.

Take care. Trade Well & Trade for Tomorrow.

//Doyal Alexander

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  #22 (permalink)
Dallas tx
 
 
Posts: 18 since Oct 2014
Thanks: 7 given, 29 received


poptarts View Post
hi doyal
im know about the intraday trailing stops for oneup and evaluation rules
my questions are about rules for funded accts, been hearing rumors about more stringent rules for oneup traders whove passed eval:
like a 90 day probation with more rules not listed on website
if you break a rule while funded in tst u can withdraw whatever profits youve made but i heard u cant with oneup, or u can only withdraw a % of remaining before they close ur account?
tst also has intraday trailing stop once you are funded, so they both have the same rule

im not really concerned about which one is easier to pass, but more concerned about which one is easier to keep a funded account.

thank you for reply

The only funded rules Iíve 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, Iím all for profit and if Iím not in the black after 15 days, Iíve 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.

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  #23 (permalink)
Montreal, QC, Canada
 
Experience: Beginner
Platform: Jigsaw Daytradr
Broker: Tradovate
Trading: ZB & UB
 
lexknight's Avatar
 
Posts: 37 since Apr 2020
Thanks: 23 given, 52 received


Congrats on Topstep, and OneUp it sounds like.

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.

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  #24 (permalink)
Valencia (SPAIN)
 
Experience: Intermediate
Platform: SierraChart
Broker: Interactive Brokers / Infinity / Optimus
Trading: Emini, Nasdaq, DAX, Bund, IBEX
 
SamJames's Avatar
 
Posts: 55 since Feb 2018
Thanks: 10 given, 79 received

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.



doyalalexander View Post
Ok everyone... a lot has changed in the last 2 weeks...

I have spent a lot of time learning the NQ and getting my tail kicked, overhauling 'how' I trade, and have added a 3rd 'funder', LeeLoo, to the mix.

As of today...

TopStepTrader ($150k Account - Step 2)
  • Today: $750 // micros only
  • Total: $10,779 // target beat
  • 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.

Take care. Trade Well & Trade for Tomorrow.

//Doyal Alexander

Sent using the futures.io mobile app

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  #25 (permalink)
Tucson
 
Experience: None
 
Posts: 27 since Sep 2019
Thanks: 1 given, 19 received

Lol there are successful funded traders all over thr world.

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  #26 (permalink)
Dallas tx
 
 
Posts: 18 since Oct 2014
Thanks: 7 given, 29 received


lexknight View Post
Congrats on Topstep, and OneUp it sounds like.

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.


Hey there!

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 canít say this enough, esp when I hear folks ranting about blowing up their funded accounts. The rules seem okay, so long as you donít 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, Iíd have rules on how YOU risk MY money... and Iíd fire you for breaking them. From my perspective, so long as they pay, itís 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 itís like trading for those companies?

Take care,

Doyal Alexander

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  #27 (permalink)
Montreal, QC, Canada
 
Experience: Beginner
Platform: Jigsaw Daytradr
Broker: Tradovate
Trading: ZB & UB
 
lexknight's Avatar
 
Posts: 37 since Apr 2020
Thanks: 23 given, 52 received


doyalalexander View Post
Hey there!

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 canít say this enough, esp when I hear folks ranting about blowing up their funded accounts. The rules seem okay, so long as you donít 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, Iíd have rules on how YOU risk MY money... and Iíd fire you for breaking them. From my perspective, so long as they pay, itís 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 itís like trading for those companies?

Take care,

Doyal Alexander

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.

Good luck, sounds like its your week to shine!

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  #28 (permalink)
Philadelphia, PA
 
 
Posts: 5 since Jun 2020
Thanks: 19 given, 1 received


doyalalexander View Post
Hey there!

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 canít say this enough, esp when I hear folks ranting about blowing up their funded accounts. The rules seem okay, so long as you donít 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, Iíd have rules on how YOU risk MY money... and Iíd fire you for breaking them. From my perspective, so long as they pay, itís 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 itís like trading for those companies?

Take care,

Doyal Alexander

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.

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  #29 (permalink)
Leeds UK
 
Experience: Intermediate
Platform: TradingView
Broker: LCG, Oanda
Trading: ES, 6E, Cable
 
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Posts: 451 since Apr 2015
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SamJames View Post
Forget all these companies.... you will just lose a lot of time and energy


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?

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  #30 (permalink)
Dallas tx
 
 
Posts: 18 since Oct 2014
Thanks: 7 given, 29 received



Tymbeline View Post
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?

The advantage is access to more trading capital, so that I can put less at risk per account and still make decent money... 0.5% of $700k is $3,500.

As for trading, I following the most restrictive account rules for all the accounts... So, Leeloo has the cake there.

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