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.
I've just signed up for the Leeloo "$50,000" challenge as today it's only $51 down from $170 for the first month - click on the news section of the website to get the discount code. I am in no way affiliated with Leeloo just seems a good deal and I'm ready to have another go at passing. If I'm feeling brave I may even start a journal to track my progress....
Thanks
Adam
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I am debating on OneUp or LeeLoo. Aside from the weird videos and all of that, as long as they allow a fair chance to pass, reasonable prices and pay out cash when it’s time to withdraw then they can have unicorns jumping the moon over a rainbow on their website and videos for all I care. As long as all is legit. I’ve been watching some review videos on LeeLoo on YouTube and it seems to be decent in terms of their process.
I was hoping someone who has taken and is currently funded with them to learn more about them once funded and all.
I shared my experience with Oneup in the previous post. I have also experience with e2t , for me is e2t the best choice. Only one step and no ridiculous rule if you got funded.
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I think I am going to try E2T. Seems reasonable and a great selection of platforms.
I love using InvestorRT for charts but I never knew you can trade from it as well? I would use this hands down but does anyone have any trading info? Does it have a DOM to trade from? Is it just chart trading?
InvestorRT is a great software (not cheap, but very good and if you never have used it before, I guess the learing curve is a bit longer until you understand all the features and how to handle em). I saw on their homepage that DOM-trading is available.
The thing about not liking the two steps in TopStep is understandable, but I have a different view: If you're a good trader, you will be able to do both fairly easily. It's a matter of whether you can stay consistent or not. If you're not a good trader and are not consistent, you may pass the first but probably not the second, since consistency -- staying power -- is what is required to do it again. If you can't pass the second, you really don't want to be going directly into live trading after the first, because this is harder and you are more likely to fail it.
In the long view, a few more weeks of Combine trading in their step two is nothing, assuming you can pass it. I know that traders tend to assume they are going to just breeze through these tests, but experience argues otherwise.
Again, I do understand wanting to get on with it, and this is not meant to criticize anyone who feels the two steps are a big issue. I just look on it as another way to be certain that you're actually ready, before entering the big time. Your experience may be different.
But just as most traders will fail at trading their own accounts, at first anyway, so most Combiners will fail as well, and for the same reasons. I would advise people not to assume easy success, and not to count their money just yet.
Also, remember that for a few hundred bucks of margin, there's the micro contracts, which involve real-money trading with relatively low risk. A good way to get you feet wet if you need to.
Good luck to those who are trying any of these, whichever they decide on.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
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I have a question regarding the trailing drawdown. Basically it’s just from the highest point of the trade to where you closed it out?
I’d like to go with TST but I would rather have 1 step than 2. I know LeeLoo may have “different” YouTube videos and such but if it offers an opportunity to trade with the least path of resistance then they can make their YouTube and all of that whatever makes them happy.
I’m just trying to decide either LeeLoo or E2T. I like the platform options with E2T. LeeLoo you can only use NT8, which isn’t terrible.
I came across "The Glide" - Swing Trade Micro Account with LeeLoo.
I wanted to get some feedback from others here about this one. I think this one is perfect. The Profit Target is $2000 and the Max Loss Limit is $625. It’s a static drawdown and not trailing.
Account Specifics:
- $100,000 Account Size
- Option between 20 Micros or 2 Standard Contracts
- You can hold trades overnight
- $625 Max Drawdown (Static)
- You can trade during news
- Minimum of only 10 trading days
I know each type is what someone’s goal is but I think this one is pretty good. I like the static drawdown. $625 is not a lot but is somewhat equivalent to a higher trailing drawdown limit being the details on how that works. i.e. Up $1000 on a trade and close out at $500. You are down -$500 even though you just made $500 profit. I would like it that much more if it was $1000 Max drawdown limit but $625 isn’t that bad. You can also switch from Micros to Standard contracts. I like this a lot. Sometimes you have those days where the market is moving nicely and you can do the 2 standard contracts but on days when it’s not, you can adjust your position with micros. That’s pretty nice. You have to trade for a minimum of 10 trading days. That is not bad at all either.
Anyone who has done or knows a little more about it. Can you share your Pros and Cons on this one?
I’m almost 100% certain that I am going to select this one but want to get some feedback first.
Extremely appreciate this!! I don’t know why but I was under the impression that you can only use NT8 with LeeLoo. Not that I have anything against NT I just was leaning more towards Sierra or Atas
Have you ever tried Atas? I’m trying to find the best Market/Volume Profile and Footprint charts. Atas seems like a pretty decent platform for that but a lot use Sierra as well.
Hi, this is just my personal opinion, they have some tools like smart-dom and smart-tape, which should be helpful for orderflow-traders, also some orderflow-indicators, you cannot find with other platforms.
Of course SC and IRT are very good platforms. I've used SC years ago, ok they are looking as they came from 18th century (which isn't important for good charting) and I like how less resources SC needs, but to know how it works takes a long learning-curve same with IRT it isn't easy to learn, but if you know how to use, it is a great tool. Why I wouldn't use SC is they don't support industry-leader data-provider anymore, just that their clients have to use their data-source, I guess they want to become a broker on the middle term, like NT. But you get a lot for really less money. IRT costs you $ 125.--/month with all tools, so if you like this software, why not ?
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OneUp Traders must have any 3 trading days' net profits total summed up to equal 80% or more of the largest day's net profit.
They call it "consistency" lol. A few times a year you can catch runner on ES (especially on NQ) that big so this would ruin your evaluation with these guys. This is good outlier but they don't think so. Ridiculous rule.
Earn2Trade Therefore, traders should build up a profit margin above the contract size they wish to trade, so that they have a buffer before they no longer can have a position of that size open. This will help prevent their account balance suddenly dropping to a level that doesn’t allow them to hold the number of positions they currently have open.
If traders open more contracts than their account size and profit levels allow, they will fail the examination.
Why these guys can't manage position size by themselves? Just don't allow to buy more than it's allowed.
TST If you attempt to enter an order that exceeds your Scaling Plan’s limits by chance, your trading platform will automatically reject the order. Imagine it; no more rule breaks for putting on too much size.
That's how you should do your job, Earn2Trade!
LeeLoo
Static drawdown. Nuff said. Gives much more flexibility if your system might have severe drawdowns or you wanna have big runners that sometimes turn into losers/BE.
Just looked a little into Leeloo as I never heard of them. One interesting thing is they state "All data and expenses are combined into a subsidized, monthly, all inclusive fee of $88." But they have different options when one actually achieves the funded account. support.leelootrading dot com/kb/a21/1_-i-qualified-whats-next-performance-account-overview.aspx For example there is an "accelerator" or "investor" account, and the "investor" account has certain rules on the initial payouts.
