This is already in my trading plan. I am testing forward with 1:2 risk to reward. making it consistent. I understand logic behind that.
be sure to test it using the min lot size for your combine because you can only trade that amount once your get funded look at the scaling targets for the sizes.
I will be on one contract until I have enough cushion to double. Having r:r adjusted take profit consistently takes care of that max winning day vs 3 average winning days too.
That works to but most ppl can’t get back in after getting out with a profit for fear of losing that profit
Not within one day. For doubling I need to have cushion build to cover few max losing days. My daily loss limit is 500-600$. To double I need at least $5000 on my account.
Hello all - thanks for this interesting and reasonable discussion - it actually convinced me to give OneUp a try after initially being really sceptical about the business model and to register here as well. Have to say I am positively surprised so far (only two days on a 50k account yet) . Since I started trading only like 10 months ago besides working full time, the analytics there help me to visualize my weaknesses and motivating me to improve my trading. Not that I wouldn't have done this before but not to this extent. So far I have 76% winning trades, but just realized 82 ticks before commission of 38 since my holding time is way too short... But not trading my own money should help me with better practicing how not to realize profits too early. And there is the one point I dont like so much about OneUp - usually I trade also swing and try to rather not scalp too much, but the trailing rules are not helpful with that at the start. I will have to adjust over time and keep an eye on this 80% rule as well , puh So far it seems on the social boars that quite a lot of traders manage to get funded, but naturally many drop out after loosing their discipline right afterwards. If you are interested I would continue to write some updates - naturally I am still sceptical until the moment, where I would receive my first successful withdrawal...
it's hard to get past the idea that you're paying them for this opportunity... I posit that the cons seem to outweigh the pros. just my humble opinion. -k
I have updates to add to this thread from my comments that I posted in the beginning. I had a funded account with OneUp originally & withdrew >$5k in total, each tranche received over time with official bank wires from MES Capital. Unfortunately, I eventually experienced trading variance and hit the draw down. Over the proceeding ~6 months or so, I fell into the hamster wheel -- I had 3 more funded accounts, but never withdrew with any of them. I constantly made and lost $10,000 sums back to back as I fought trial to live, back to trial to live. The real-time drawdown specifically is what affected me the most and is a parameter I personally couldn't consistently overcome [more of a swing trader at heart, not effective at forced-scalping strategies which such a real-time draw off unrealized gains implies]. Overall I did leave with profit of ~$2k, but one can see I basically wasted >$3k and 6 months of time to retain that amount. In the same time period I kept operating my personal accounts swing trading, as I always have done -- I earned $309k in the same amount of time I made $2k with OneUp/MES. I took my results from the last few years to a 'real' fund, and was ultimately hired on a trial basis to be an analyst/junior portfolio manager. I now operate $2M for an established company, earning the standard hedge fund comp of 20% but also now have a salary with medical/dental/vision. I guess in summary, considering my holistic experiences, TsT and OneUp are indeed legitimate companies, but I wouldn't waste the time and money on them. You're not going to advance in your career as an investment manager with TsT/OneUp. My advice: Open up a demo account yourself to practice and learn. Swing trade instead of day trade. If you're successful, market your results and either start your own fund or attract investors (hedge funds, private equity, investments).
I came to the same conclusion One up is horrible if you let winners ride. tST is ok but bottom line all these companies are essentially casinos you trading fake money in the hopes of making real money for most this fact isn’t lost and you will trade as if that is the case. If you can make it past these combines you really are better off trading with your own money. The drawdowns are to limiting and will eventually if you keep going through combines cost you money if you let them. It’s easy to fall into the hamster wheel to I was shocked looking at how much I gave back to topstep then siting and looking at the rules you really can just trade your own cash.
I was of the impression that if you hit a daily draw down limit at Oneup you would just get halted for the remaining of the day and you could continue trading the next day? Does the daily draw down limit increases when you start scaling up or is there a possibility to negotiate new rules once funded and being profitable for some months? A 1250$ daily draw down with 6 contracts (150$ evaluation account) is way too low imho.