Looking to try one of these funding companies but wanted to get some feedback from those have done research on any of them, funded by them or looking to try one out?
Question regarding the trailing drawdown. Let’s say you have $1500 max trailing drawdown. You’re in a trade, up $1000 at the high but then close it for $900 profit. Does that mean you’re now at $1400 left for your max drawdown? Do I have that right?
Up $200 but close it at $100, you’re now -$100 of your drawdown limit?
Any feedback would be greatly appreciated
Thank you
Can you help answer these questions from other members on futures io?
Yes, you're right. That's a correct description of the trailing max. drawdown or 'high watermark'.
You always have to keep this parameter in mind when you give up any of your open PnL (e.g. on a runner), so it's better to have some fixed targets.
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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I believe there may be differences in the way these different companies compute and apply their drawdown and other loss control rules. It probably would be a little risky to assume they are all the same.
As a suggestion, they do each have their own threads here, and you may want to ask your questions in the individual threads, to see if there are differences. If you use the Search box in the upper right corner of every page, you will find threads that pertain to each of them. You may also get a direct answer from the company in their thread.
You might also check their websites, if you haven't already, and then ask their support for a clarification if you're not sure of the situation.
Knowing the exact rules, as the particular companies state and enforce them, is pretty important. If you get an idea of what one does, but you try out with another company that does it differently, it would be an expensive mistake.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
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I've traded with all 4. I'd rank them best to worse as OneUp, TST, LeeLoo and E2T.
E2T has for months been changing brokerages for funded accounts, which would make me stand on the sidelines until I knew they were up and running. You can pass, but you aren't getting a funded account until that's complete. There's an E2T thread with more info.
TST and OneUp probably the most professional and trustworthy I'd say, the 2 step process with TST though and some of the rules just make it less attractive. OneUp trades much more like a real, normal account. If you enter too many contracts for example, it just balks and won't let you do that. Where TopStep will let you trade too many in error no problem, then bust you for it. Same with drawdown, hit it with OneUp, it just stops you for the day. TST, you fail.
LeeLoo, cheaper prices, but just semi sketch. Look up their YouTube videos as an example, just weird shit. As well read up on their withdraw rules. It's once a month at month end, and there's limits. Any of the other companies withdraws are more on demand, ie. you can ask when you want.
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One of the biggest attractions to OneUp for me was, even after you are funded, you do not pay for data. Big plus personally.
Edit: To answer your question, as far as OneUp goes, yes there trailing drawdown is based off of the unrealized profits. So, yes if your up 200, but close it out for 100, your trailing drawdown would be -100. Once funded, you have some agreements to read and sign and then your account will be set up. Usually takes around 5 days from my experience. Although there evaluation is a one step process, after your funded, you don’t actually start earning money until your trailing drawdown exceeds what your target profit is, based off of the account size your trading. Minimum withdrawal is or was $1000. It’s been a while since I was funded by them but never had any complaints. I really liked there social media board you will have access to after you pay for the evaluation.
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I appreciate this info a lot. I have not looked too much into OneUp so I appreciate your views on them.
Aside from the weirdness of LeeLoo and withdrawal. I seen that they allow you to keep 100% of the first $8000, that is very nice. I also like the simple rules to get funded. I did find it kinda weird that you are always trading in a sim account even after you get funded and they have the right to copy any of your trades. I am not sure if the others do something similar (as far as always in a sim account regardless if you get funded) but I guess as long as you get paid accordingly, sim or live it’s still real money earned.
Sometimes I like to keep runners but since the drawdown is calculated from the highest value, I guess leaving a runner would not be the best idea as it may hurt you more than help?
I am trying to determine the best way to go about that part of these evaluations. The highest value drawdown was the only reason why I was leaning more towards TST as they go by EOD which I think is more realistic and beneficial. It’s hard to close a trade at the highest value point.
To make sure I have this right: let’s say my max drawdown is $2500. Let’s say I place a trade and it hits $2500 as the high but close it with +$2000. Does that mean the remaining time of the evaluation I have $2000 left before failing? Essentially I can close out trades of $2000 everyday but if they were as high as $3000 each day. Then 2 days of making $2000 but hit $3000 and then one day of making $1500 after a high of $2000 would fail me even though I would be +$5500 in the account?
Do I have that right?
Is there a method to best approach something like that without cutting a winner too soon?
Thanks again for everyone’s help. Hopefully my questions and the answers from everyone helps a few others out there as well
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Beware of the Oneup funded Trader Rule. "Trader must have a positive net PnL at the end of initial 15 calender days from account start date and in subsequent 15 calendar day intervals- Rule only applies during initial 90 day probationary period , start from first day trading".
That means, you can make 10 K profit but in the last 15 days you made 1 USD loss and your funded account get closed even though you made a total profit from 9.99 K.
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Thank you for the info. Basically there are 6-15 day intervals once you get funded. And each of those 15-day intervals you can not be net negative of any amount otherwise you lose your funded account?
There isn’t a certain amount to be positive though, right? Even +$1 is fine? Just as long as it’s + ?
In order to allow a true chance for success and to limit your risk of drawdowns during withdrawals and to secure the longevity of your trading account, traders are required to adhere to the withdrawal thresholds to be eligible for withdrawals.
On Day 7, the $100,000 account has accumulated $7,500 in profits, the threshold is $3,500 meaning the trader is eligible for a withdrawal of $4,000
It's not clear whether this is a once off thing (maybe it disappears after a certain level) or permanent. But to me, it sounds like on the 100k account, you've essentially lost $3.5k.
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