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There is slippage of course that's part of the market, but a 3 ticks of slippage seem a little extreme in a market like the ES (I traded this setup in live and a 3 ticks slippage never occured to me). But I would never use this trade setup in a market like the NQ for sure
I don't quite follow you about the "real" balance account. Even if my real account balance was 4 500$, the max drawdown stop at 150 000$ and don't increase when my "name of the account" reach 154 500$, so if I grew the "name account" until 160 000$ the max drawdown will still be at 150 000$. So in this case what would be my real account size ?
Can you help answer these questions from other members on NexusFi?
Ok so if I follow what you and tr8er said the max drawdown wich is the account balance is what I can afford to loose and that seems logical, but if the balance is at zero or 4 500$ how can they have the margin which is necessary to trade like 15 contracts ? And even if they had access to margin that low how can they still manage to give me access to 15 contracts if my account balance is at 2 000$ (Max drawdown - 2500$) for exemple ?
No offense to you and tr8er, just trying to understand your point of view which I appreciate
First at all, you only can trade 15 accounts with step1, after that with step2, pro-account and real-funded account you have to follow the scaling plan and can start with 3 contracts.
The starting-balance of funded accounts is 0 and you have the same drawdown as you have in your combine, in your case, you will start the funded-account with balance 0 and the max trail drawdown will start at - $4,500.--.
If you bring your 150k to 160k, of course your real account-size is 10k
Excellent question. The answer is that a funded account is actually a sub-account of the main TS account with the broker, and that overall account has the necessary margin for all the trades that the various sub-accounts take.
It's not like you are trading as an independent retail broker customer with $150 k. You are trading a portion of the company's funds. The margin requirements are managed with the broker by TS, not by a balance in your sub-account.
During the initial period of the live account, your "buying power" (the number of contracts you can use) is restricted -- you don't start out with 15. Over time, as you build up a positive balance, you can be given the use of additional contracts. It has been some time since I worked through the information on the TS website, but it's all spelled out there. If I recall correctly, it's covered in the "scaling plan."
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I became curious if I had remembered this right, and so I went over to their site to check. Yes, you can find this information in the section on the Scaling Plan, here: https://help.futures.topstep.com/hc/en-us/articles/220389528-What-is-the-scaling-plan- Note that the scaling plan applies to Combine accounts in Step 2 and to funded accounts. There's a video as well as some bar graphs to explain it.
It is really important to scour every part of the website to make sure you understand all the issues and how the parts fit together. It's logical and makes sense, but it is a good idea to work through all of the content of the site, to be sure you have it all down correctly.
Hi, I just discovered your journal.
If I can suggest something, be very open minded about what other users in Futures.io suggest you. Many of them have been trading for years.
No one will ever tell you directly "you are doing it all wrong" or "your trade style is BS" or anything like this, because there is no right or wrong in trading.
However be smart and read between the lines. Be smart and understand what they are trying to tell you, you will save a lot of time and learn quicker.
My intention was not to be mean or to prove my point of view and be closed-minded , I hardly express myself because english is not my primary language so it's harder for me and you may be made wrong interpretation of what I said, so sorry if it was the case
yes, don't worry I did not perceive you as mean or impolite... I just point out that that a couple of people with a lot of experience gave you some good advice that on the long run will help you a lot and I had the feeling that you did not pick the importance of the advice.
I trade initially 1 car to 20k, 2 cars to 50k, 3 cars to 100k, 4 cars after that... good money can be made all while protecting your money. For some traders that may be too conservative. It took 3 blowouts for me to be at my comfort zone. To each his own, I guess.
