Whats up, Apex Trader Funding amirite?? Are there any other places out there that will let you scale like that? I have honed a strat that allows me to follow Apex rules very easily, so any other prop firms should be a breeze. Ive decided to abandon my Apex account - who is actually legit nowadays? Id much rather put the time maturing that account than one at Apex since they apparently dont pay out like they should. Legit and cheap - and where I can use NinjaTrader Platform, preferably. Thanks for the help.
The only real way to get with a legit prop firm is to trade your own money, build up a record and have something to show them in an interview. The majority of these "prop firms" are not real and just want your sign on money.
Topstep gives you 5 accounts and you will have zero issues if you follow the rules - which are fairly simple. For example, if you have 5 x 150K accounts and run them up to 30K each with a total of 150K, that amount will be converted to a live account and at some point you'll be able to withdraw everything in your account minus a 10 % cut.
The problem is, they will convert to just 1 account. Since Apex is BSin around, Im trying to do the equivalent of their 20 live accounts. Im going to add TopStep for diversity sake. Its all just one account once you go Live at Topstep though, 5 payouts converts to live, so it doesnt seem worth to pay for another 4 accounts for a limited time. however, if i can keep adding numerous live accts. I can have my own version of "Apex 20". Make sense? So thats what im tryin to do and thats why im askin.
So, you're saying you'd not be happy with a single live account with a balance of $150K? After cashing out, you can probably do it all over again. If that's not enough, you can always do other firms in parallell through Ninjatrader with a trade copier. Of course, racking up a number of accounts costs money. It's not free...
How about you scrape together 3 dimes instead of grabbing your ankles every couple of months with a new chop-shop.
I see what you are saying, i could be remembering incorrectly, but i read somewhere that its better value to just get the 50k accts - quicker payouts for the money you are spending for the acct. Ya i was planning on doing that, just have a lot of all the decent shops and copytrade. and ya an acct with 150k is nice, but so would 10 150k accts.
Because its quicker to scale this way. And thats how you make big money in trading - by scale. And you dont have to change every couple of months if you do it as right as you can.
Read somewhere? You can't be making serious decisions on something you 'read somewhere'. Read up on the rules and terms first. The 50K is the cheapest of course, but your DD is very tight at $1.5K and your # of contracts is capped at 5. I've usually done the 150K accounts, but the 100K accounts are fine, too. DD is a bit tighter, but not that much. Listen. You run those accounts up to 30K x 5 and then you'll use that windfall profit to either fund your own account or load up on more accounts with other firms. Don't put the cart before the horse here.