Topsteptrader

Discussion in 'Prop Firms' started by deaddog, Jun 25, 2013.

  1. Xela

    Xela


    Yes.



    No.



    During the first 10 days actually traded (not at all the same thing as calendar days, of course) of a funded "$30k account", your maximum permitted drawdown is $1,500 (and your daily loss limit is $500). After 10 days, there isn't a maximum permitted drawdown, but your account balance isn't allowed to go negative overall. There's no weekly maximum permitted drawdown rule for $30k accounts.

    As you make profits, your maximum permitted lot sizes and daily permitted drawdown amount gradually increase, and are not subsequently reduced by choosing to withdraw profits.
     
    #2491     Jul 25, 2016
  2. p0box4

    p0box4

    Indeed Xela, however on question 2, there actually is a time frame to make money as you said yourself, you have to be positive after trading day 10 in both the funded trader program and the funded account. So within the first 10 days you have to build a little equity so you can keep trading after.
     
    #2492     Jul 25, 2016
    Xela likes this.
  3. Xela

    Xela


    Indeed - the equity you build during the first 10 days traded, with the live account, is hugely (you might even say "artificially") important.
     
    #2493     Jul 25, 2016
  4. Thank you RDK91 for your response.

    Using your example of max drawdown of $500 after day 11. My account balance is now $30,500.

    1. If day 18, my account is now $30,000, will I be removed from the funded account service?

    The way I thought was once earned fully funded account, you start off with $30k, with drawdown of $1.5k.

    Thanks
     
    #2494     Jul 25, 2016
  5. Thank you,

    Maybe I am confused. Why is equity built in live account so important after 10 days?

    If my balance is $32K after 10days, shouldn't my drawdown still be $1.5K on the $32k

    I hope I am not confusing anyone.
     
    #2495     Jul 25, 2016
  6. Pekelo

    Pekelo

    There is no balance (30K, 50K whatever), or put it more correctly, your DD is your balance. And after 10 days your profit made during the 10 days becomes your DD, aka "balance."

    That is why those 10 days are so important.
     
    #2496     Jul 25, 2016
    Xela and p0box4 like this.
  7. p0box4

    p0box4

    Had a not so good day today, market was very slow after US open and i was waiting for a solid break below 43,2 in CL. Stops were too tight and should have waited.
    Missed 1 good entry in ES.

    Down 496,8$ so the balance now is 19,04.

    [​IMG]
     
    #2497     Jul 25, 2016
    SimpleMeLike likes this.
  8. Thank you Pekelo,

    You explain well.

    So the benefit is that i am risking their money, and i have 10 days to do it? And after 10 days whatever in my account, i can lose, then restart the combine again. I belive I understand now.
     
    #2498     Jul 25, 2016
    Xela likes this.
  9. Thanks for update. I'm sure you will do well going forward.

    I was able to get the short on ES.
     
    #2499     Jul 25, 2016
  10. p0box4

    p0box4

    Thanks, yes nothing to worry about just yet, losing day's are normal :D
     
    #2500     Jul 25, 2016