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I am currently in the $100,000 evaluation with LeeLoo. I am wondering if there is a case to be made for having multiple accounts at different companies, i.e. one at LeeLoo and another at Topstep. I know you can have multiple accounts at the same company so, not sure if it is practical, just looking for opinions from those who may have done this and can advise on the advantages.
Can you help answer these questions from other members on NexusFi?
I am using Rithmic on Sierra Chart and also Denali for history. I place my orders through Sierra as well.
I agree that it sounds confusing. I am still in the evaluation stage at the moment.
I've always been of the belief that you "don't put all of you eggs in one basket".
What I mean by this is. Let's say I were to find something that I really did not like about LeeLoo, and already had a funded account at another company. I could dump LeeLoo, start trading the other account and would not have to wait that two weeks or so that it takes to start earning money because I would have already passed the evaluation.
Biggest issue for you will be if there are any minimum trades needed to make per month or vacancy rules. You might need to make trades every so often in one of your spare accounts....
What would be better is to have it setup so that your trades trigger for all accounts... That way you can earn/lose double the amount.
Hey Albert. That sounds challenging. Why not just scale up in one organization. I wrote a post on funded trading. (below) Do you get much help from LeeLoo? I was not impressed with their model but that is just from reading their site. I am engaged with TopStep daily. In my opinion they really care about a trader's success and invest in traders. DM me if you want to discuss more.
Recently, I have been reviewing prop trading programs. I focused on TopStepTrader, SpeedUpTrader, LeeLootrading and Maverick. Below are a few thoughts to share. (just my opinions)
Maverick sounds or looks good on the surface but I see too much incentive …
I have done this several times but if you have two accounts, your mind thinks that you have two chances. So one day you will make a mistake and think "don't worry you can afford it, in worst case scenario you will stop trading this account and trade the second one".
That day you will jeopardize both accounts.
It's easier to have just one.
Also the most important thing to chose a funding company for me is to make sure that once you get funded you will be really trading real money.
I can grant you that TST trades go to the market if you get funded. But I cannot say that for other companies, some of them say that they manage orders internally. (Lol)
This might seem as a trivial difference but it's not. It's the same reason why blakjack and poker are deeply different. In the former you are betting against the house, in the latter the house doesn't care if you win or not.
So make your investigations, before doing anything.
