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TST/OneUp/LeeLoo/Earn2Trade

  #91 (permalink)
 Jumpup78327 
New York, New York/USA
 
Experience: Intermediate
Platform: NinjaTrader, Tradovate
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Howard Roark View Post
Maybe too late by now, but steer away from LeeLoo or Apex. By design it's very clear that the odds are stacked against you.

100% of the first $10K of profits? Great. Only problem is it will take you six (!) months to withdraw. And would you trust them to even pay out after six months considering that it's probably simulator profits? I imagine they'll just declare bankruptcy then.

The trail works against you for sure I experienced that today failed the 10 day eval with about 1.5k left being greedy was up around 2k before getting too aggressive but Leeloo and Apex are actually in the best position to payout since you have to wait so long. Apex got 5,000 accounts in the 1st month of business.


they are getting 500k a month if each of the 5k only paid $100 and we know damn well they paid more than that on average but lets use that very low number.
the odds of people making it past 5 months to realize the uncapped withdrawal is small so they would be really stupid to not pay the maybe 1% of people that make it. The payouts are last Monday of the month + you have to have 30 trading days before your 1st payout most likely you will have to wait 2 months before the 1st payout

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  #92 (permalink)
Howard Roark
Oslo Norway
 
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caacapital View Post
The trail works against you for sure I experienced that today failed the 10 day eval with about 1.5k left being greedy was up around 2k before getting too aggressive but Leeloo and Apex are actually in the best position to payout since you have to wait so long. Apex got 5,000 accounts in the 1st month of business.


they are getting 500k a month if each of the 5k only paid $100 and we know damn well they paid more than that on average but lets use that very low number.
the odds of people making it past 5 months to realize the uncapped withdrawal is small so they would be really stupid to not pay the maybe 1% of people that make it. The payouts are last Monday of the month + you have to have 30 trading days before your 1st payout most likely you will have to wait 2 months before the 1st payout

If we can trust that they actually got 5,000 accounts I do agree on your math. And I do not doubt that they will cash out say $10K.

But what if some trader actually just by luck traded 15 contracts and captured a massive move on ES/NQ? Would they pay out $50-100K? I'm not so sure...

That's why I'd feel safer with E2T's live account as it's an actual live account and they're paying you an actual 80 % of profits you generated yourself. Any profits I take out are not a loss on their part. However, any profits I take out from LeeLoo/Apex is actually a loss for those firms.

Sorry to hear you failed. Plenty of volatility these days so it's easy to get on the wrong side of the market and rack up substantial losses. Are you going to try again?

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  #93 (permalink)
 Jumpup78327 
New York, New York/USA
 
Experience: Intermediate
Platform: NinjaTrader, Tradovate
Trading: ES, NQ
Posts: 56 since Jan 2017
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Howard Roark View Post
If we can trust that they actually got 5,000 accounts I do agree on your math. And I do not doubt that they will cash out say $10K.

But what if some trader actually just by luck traded 15 contracts and captured a massive move on ES/NQ? Would they pay out $50-100K? I'm not so sure...

Sorry to hear you failed. Plenty of volatility these days so it's easy to get on the wrong side of the market and rack up substantial losses. Are you going to try again?


I also forgot to mention specifically with Leeloo they CAN limit payouts to the size of the challenge you pick ie_ 25k if for some reason your making too much money too fast they could limit you thats what they did with the guy who started Apex he was trading a trade copier scalping and they stopped paying on his account Leeloo says that that was a unique situation similar to topstep adding that 20 second scalping rule.... although with rithmic paper the sim fills are very realistic.


Yes already retrying passed 4 of the 7 challenges i have open just have to wait the remaining days hopefully i dont mistakenly blow any of the passed accounts i have ive done that before when i have multiple Leeloo combines running at a time.

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  #94 (permalink)
MichaelFlowTrader
Atlanta
 
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caacapital View Post
Leeloo they CAN limit payouts to the size of the challenge you pick ie_ 25k if for some reason your making too much money too fast they could limit you that's what they did with the guy who started Apex he was trading a trade copier scalping and they stopped paying on his account Leeloo says that that was a unique situation similar to topstep adding that 20 second scalping rule.... although with rithmic paper the sim fills are very realistic.

Is that the Darrell Martin guy who said he made 300k from one funding company?
When I talked to Leeloo like 2 years ago or something like that, I had that question for them (what if you get a skilled trader, who over those 5 months earned 100k or more? Will you be able to payout?) So, I guess the answer is that they cap you at the 'buying power' amount you sign up for. So, if you sign up for a 300k account, they cap you at that amount if you are earning too quickly??? What is earning too quickly?

I might need to start one of these companies!

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  #95 (permalink)
Howard Roark
Oslo Norway
 
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MichaelFlowTrader View Post
Is that the Darrell Martin guy who said he made 300k from one funding company?
When I talked to Leeloo like 2 years ago or something like that, I had that question for them (what if you get a skilled trader, who over those 5 months earned 100k or more? Will you be able to payout?) So, I guess the answer is that they cap you at the 'buying power' amount you sign up for. So, if you sign up for a 300k account, they cap you at that amount if you are earning too quickly??? What is earning too quickly?

I might need to start one of these companies!

Allegedly.

Surely that's BS, though?

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  #96 (permalink)
MichaelFlowTrader
Atlanta
 
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Howard Roark View Post
Allegedly.

Surely that's BS, though?

I'm quite suspicious of him because after I sent my post, I realized that "hey i know this guy!!!!" He used to be a trader educator. He used to teach people binary options for the Nadex platform mixing in classical options technique. I then decided to snoop around and it looks like he has a sketchy history on this forum. So, it is a bit difficult to have any trust in such a person. His website looks like it was thrown up by a 5th grader with a free WordPress template.

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  #97 (permalink)
Howard Roark
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MichaelFlowTrader View Post
I'm quite suspicious of him because after I sent my post, I realized that "hey i know this guy!!!!" He used to be a trader educator. He used to teach people binary options for the Nadex platform mixing in classical options technique. I then decided to snoop around and it looks like he has a sketchy history on this forum. So, it is a bit difficult to have any trust in such a person. His website looks like it was thrown up by a 5th grader with a free WordPress template.

Every single alarm bell is going off for me with this guy / firm, so I share your sentiment.


Quoting 
Darrell Martin has accomplished success in trading models getting $300,000 in payouts with just one funding company and set out to make a better one where he was not capped.

https://apextraderfunding.com/about-us/

If this was true he wouldn't be running this scam company. Is it legal in the US to engage in that type of marketing without any evidence?

If Darrel Martin can post proof he's taken 300K out of 'just one' funding company I'll be EXTREMELY surprised.

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  #98 (permalink)
MichaelFlowTrader
Atlanta
 
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Howard Roark View Post

If Darrel Martin can post proof he's taken 300K out of 'just one' funding company I'll be EXTREMELY surprised.


I saw a screencap of what looks like a Bankwire for 300k even from Leeloo. I don't know if it is legit? Only Leeloo could vouch but i doubt they would. If Leeloo is willing to payout large-- it could be almost free size/money for an already live trader. Dedicate just an hour of the trading day towards their eval/investor account and in 6 months you have a 100k sum before taxes to add to your trading account.... I still do NOT get why anyone would choose Apex over Leeloo in this scenario, even if true because it is Leeloo would have the history of paying out 6 figure sums, not Apex. It almost seems more like a 'flex' for his training course than something that gives his evaluation company any added credibility.

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  #99 (permalink)
 Jumpup78327 
New York, New York/USA
 
Experience: Intermediate
Platform: NinjaTrader, Tradovate
Trading: ES, NQ
Posts: 56 since Jan 2017
Thanks Given: 9
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MichaelFlowTrader View Post
Is that the Darrell Martin guy who said he made 300k from one funding company?
When I talked to Leeloo like 2 years ago or something like that, I had that question for them (what if you get a skilled trader, who over those 5 months earned 100k or more? Will you be able to payout?) So, I guess the answer is that they cap you at the 'buying power' amount you sign up for. So, if you sign up for a 300k account, they cap you at that amount if you are earning too quickly??? What is earning too quickly?

I might need to start one of these companies!

Yes its him Leeloo used to have an ad showing that he took a withdrawal as well I cant find it anymore though. Leeloo said its a case by case limit im not sure how they determined this as either Rithmic paper server fills are pretty accurate as far as slippage so the time really shouldnt matter the only edge you have and this is with all sims is that your orders dont show on the bid/ask

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  #100 (permalink)
MichaelFlowTrader
Atlanta
 
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caacapital View Post
Yes its him Leeloo used to have an ad showing that he took a withdrawal as well I cant find it anymore though. Leeloo said its a case by case limit im not sure how they determined this as either Rithmic paper server fills are pretty accurate as far as slippage so the time really shouldnt matter the only edge you have and this is with all sims is that your orders dont show on the bid/ask

Leeloo wouldn't vouch in email because the screencap didn't have a transaction number, but they did say they have paid out that much to a trader. They then sent me a link to all the payments they had paid out. So, it probably is legit, but the argument still stands-- Why would anyone choose Apex over Leeloo? Leeloo has the track record of paying, not Apex.

Off topic about SIM fills because you mentioned it--- Despite what people claim, Rithmic, CQG and especially TT SIM (TT actually adds you to the bid/ask depth, but 10min delay data) are just as accurate as REAL fills. When I went from trading SIM to trading live, my fills were not ANY different. The scalping/MM homebrew style of trading I do people claim CAN'T work live works just as well live as it did in SIM when I was teaching myself how to trade. The ONLY diff was the psychological side of things when your own money is on the line--- that is why traders need SKIN in the game or some sort of monetary disciplinary action (failed eval/reset fee) and I will make the claim that 90% of traders cannot stay profitable live or make it through these evaluations---- Oddly, that is why they PROBABLY should NOT trade or trade with one of these companies.... Wasting $150/month to sim trade is cheaper than blowing your own account!!!

The type of fail no matter what SIM trader who go live are those who take huge risks with SIZE they will never trade in their own account. or size no one will ever give them. You know the SIM gods who claim, "I made 500k in SIM holding on to my losers averaging down until it TURNs."

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