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Any long term success stories from funded traders in these get-funded programs?


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Any long term success stories from funded traders in these get-funded programs?

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  #31 (permalink)
 matthew28 
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SBtrader82 View Post
I have been funded a couple of times with TopStep, and I want to tell one thing that is often overlooked.
crucial point.....
If the trades actuallly go into the market then (once you are funded) you are really trading, but many companies do not pass the trades to the market.... I don't want to mention the companies that do not, but I did a thourough search and many of them don't.

And neither does Topstep as an option because after passing Step2 you can choose a "Funded" account or a "Pro" account which is simulated and you can trade that up to $5k in profit. Then you have to move to real money which is called a "Premium Funded" account as it starts with a $5k balance compared to the standard Funded account that starts at zero.


MNSTrading View Post
that is really messed up.

No it isn't. A lot of companies start the traders off on sim because the majority of them will lose money when they go 'live' instead of just playing a sim game they can reset until they pass, ie. They can't trade consistently, they just got lucky.

Topstep is the only company I have had any dealings with so with reference to them. They were the first in that retail funding space and are still going so are obviously profitable. Business wise it must be cheaper for them to pay out $5k of their own money to open a Premium Funded account for somebody that can actually pass through the Pro stage, than it would have been for all those traders to go to a real Funded account with the majority quickly drawing that account down to the maximum loss. A clear advantage for the company for traders to start on the Pro account.

And for the Traders they have the choice between setting up a Funded account which can take 10 days or so, they need to pay professional CME data fees per exchange as trading other people's money, and might need to pay for a live trading platform licence too depending on the software they use. Or go with the Pro account which will be set up by the next day, have no CME exchange fees, no Combine test fees and no live platform fees. So very quick to set up and free trading which for most people is a great option.

(The only potential big disadvantage to factor in when choosing which account to go for is that if you are in profit before reaching the $5k max balance, then break one of the trading rules, for example hitting the max DLL, you lose the sim profit, whereas in the same scenario in the Funded account, you would still lose the account but would receive any remaining profit balance).

Off topic from the original question, just related to the two previous comments.

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  #32 (permalink)
Howard Roark
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Daytrader999 View Post
A profit split of 90/10 to the trader is what Leeloo offers if you manage to let your account staying alive for at least one year.

But you're always risking your own money. As such - it makes no sense to keep your money at LeeLoo or any other funded company as you could just as well trade the same money in your personal account? Correct?

That was my main question here, i.e., will a talented trader who show some consistency be able to trade larger size eventually? It seems clear to me that the only way this will happen is with the trader risking his own profits.

Bottom line: If you get funded - pull every 5 or 10K you make out of the company and into your private account. Rinse and repeat.

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  #33 (permalink)
Howard Roark
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SBtrader82 View Post
I have been funded a couple of times with TopStep, and I want to tell one thing that is often overlooked.
Once you get funded, the trades really go into the market. I checked it because I also have another personal account.
For me this is all that matter.

If you make money or not depends on you, the firm is not playing against you.... so if you can comply with their rules it's definetly cheaper than using your own money.

I know many of you will think that this reply has nothing to do with the thread but for me it's the crucial point.
If the trades actuallly go into the market then (once you are funded) you are really trading, but many companies do not pass the trades to the market.... I don't want to mention the companies that do not, but I did a thourough search and many of them don't.

To be honest - I don't see why this is a problem as long as you're paid what you earn?

I think several of the companies have been upfront about the fact that your initial funded account will (or can be) in simulator mode. I believe E2T offers this as a service because setting up a funded account otherwise takes time. So they allow the trader to start trading what they call a LiveSim account as soon as they pass the program.

If I make 10K in a simulator and get paid 10K - fine with me.

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  #34 (permalink)
Howard Roark
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So, I blew my account with E2T. No big deal. Long story short - I was up 5 days in a row, but found myself on the wrong side of the market and could either take a loss effectively giving back most of my gains or I could swing for the fences (but still within the progression ladder of maximum 3 contracts) to salvage the day. I was liquidated near the end of a move hitting my daily loss limit - only to see the market reverse.

If I understand it correctly the other companies allow you to hit your daily loss limit and continue to trade. Not with E2T.

Since my E2T account was a bit too small - I decided to move on instead of choosing a reset. From what I can see, OneUp seems to offer a better deal. I chose the 150K account. Daily loss limit is 4K and there is no progression ladder - meaning I can actually trade the full amount of contracts on day 1. The profit target is of course larger too, but I'd say quite realistic.



Off to a good start. As I said already - with my current life situation this is a good way of staying in the game and practicing without risking $$$ in my private account. Maybe I'll be able to take some money out of this company, but I don't have any illusions about actually trading any big money for them. But who knows...

I'll post updates if I either blow my account or actually pass. As long as I don't overleverage - I think I should be fine.



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  #35 (permalink)
 matthew28 
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Howard Roark View Post
If I understand it correctly the other companies allow you to hit your daily loss limit and continue to trade. Not with E2T.

Topstep's the same in that if you hit their DLL limit that's it.


Howard Roark View Post
If I make 10K in a simulator and get paid 10K - fine with me.

Agreed, it doesn't make any difference as long as the sim feed is reliable, and the trader will know that from the fact they just passed the test program using it.

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  #36 (permalink)
 Daytrader999 
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Howard Roark View Post
But you're always risking your own money. As such - it makes no sense to keep your money at LeeLoo or any other funded company as you could just as well trade the same money in your personal account? Correct?

That was my main question here, i.e., will a talented trader who show some consistency be able to trade larger size eventually? It seems clear to me that the onyl way this will happen is with the trader risking his own profits.

Bottom line: If you get funded - pull every 5 or 10K you make out of the company and into your private account. Rinse and repeat.

Exactly....as long as you are in the evaluation stage you don't risk your own money and may reset the account any time you want without losing i.e. $3k real money or whatever your trailing drawdown might be.

If you manage to get a funded account and at the time you go beyond the minimum profit level, IT IS YOUR REAL MONEY....so I agree that it makes no sense to leave too much profit in the account.

In addition, from a psychological point of view you also might want to reward yourself for reaching this goal.

"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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  #37 (permalink)
Howard Roark
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matthew28 View Post
Topstep's the same in that if you hit their DLL limit that's it.

Got it.

I was by the way auto-liquidated when I exceeded my daily loss limit. If they had any real interest in traders succeeding - they could have auto-liquidated at the loss limit and locked my account for the day and letting me continue the next day. I do of course see the counter-argument about how a trader should be expected to have this discipline on his own.

I do not think they have any great interest in traders actually getting funded though. As shown for example with this rule.

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  #38 (permalink)
Howard Roark
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Daytrader999 View Post
Exactly....as long as you are in the evaluation stage you don't risk your own money and may reset the account any time you want without losing i.e. $3k real money or whatever your trailing drawdown might be.

If you manage to get a funded account and at the time you go beyond the minimum profit level, IT IS YOUR REAL MONEY....so I agree that it makes no sense to leave too much profit in the account.

In addition, from a psychological point of view you also might want to reward yourself for reaching this goal.

Yes. Seems like we got that clarified now. The trader will probably never be able to access a large account other than risking his own profits.

Like MichaelFlowTrader suggested - I wonder what they'd do if some trader even if only by luck managed to run his initial funded account (may be a LiveSim account) to say 50K or even 100K in a month? Would they pay out? Would they want continued business with him?

If he's actual trading real money - sure. But it seems like many of the initial accounts are on SIM, so they'll be taking subscription fees from everyone else to pay out the few profitable traders.

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  #39 (permalink)
MichaelFlowTrader
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It is odd when we say trading your profits because that is what you do at most 'real' firms that require a deposit in return for better margin. I guess the initial advantage is that for your evaluation fee (all costs to get funded) you get something like 8-10x that amount of money in daily loss.

After funded and making money, the only advantage seems that you are now only risking profit, not money you brought from outside of trading as loss capital.

How much money is needed to remain in the account to trade max size is the most important question, and if they will adjust drawdown.

I think that the old SMB program was the only true pro-trader one that extended drawdown and size accordingly as profits were earned. Unfortunately, the guy running the program seemed like a poor marketer for the program, and his own funding company he created since leaving SMB has some of the WORST rules/funding requirements.

Depending on the product you trade, you are getting double the margin or better... Think GC, SI, PL, ZC, ZM, ZS and ZQ-- Hahaha all the product most ppl using these companies do not trade, but for the ppl who do this would reduce overhead...

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  #40 (permalink)
 SBtrader82 
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Howard Roark View Post
To be honest - I don't see why this is a problem as long as you're paid what you earn?

I think several of the companies have been upfront about the fact that your initial funded account will (or can be) in simulator mode. I believe E2T offers this as a service because setting up a funded account otherwise takes time. So they allow the trader to start trading what they call a LiveSim account as soon as they pass the program.

If I make 10K in a simulator and get paid 10K - fine with me.

Well if the trade does not go to the market can you prove me that I was filled at the correct price? can you prove that I was not stopped out again and again at the best price for the funding firm?
For me if the trade goes to the market I feel I am playing poker (a game in which players are not playing against the casino), but if I the trade stays within the software of the funding company, then I am playing blackjack and I cannot win.
I want the game to be fair.

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