Why would anybody move to Live account from Express funded account for Topstep funded account? I heard if you make and withdraw $10k or more profits, Topstep will move you to Live account and pay like $150/month for data? If I withdraw $10,000. I will just use my own account. Top of the Book CME data is only $4/month. I still think Topstep is the best future prop firm though.
I would guess at that point you need to decide if you are willing to put your money alone in an account and trade. Although the money in these accounts is actually yours, you do have some protection in a complete market meltdown, as opposed to if you are on your own. I am guessing the rules help some people maintain their consistency and discipline. In their and other firms the money in these accounts before going live is yours, but it is based on Sim trading, and that is kind of crazy. It shows how much they are making on signups and fails to be able to payout people who are trading on sims.
but it is based on Sim trading, and that is kind of crazy. not just crazy but dangerous to them and "funded traders" what happens if all of a sudden there is windfall win for the traders where is the money going to come from? It should be illegal to claim We fund traders and if in reality it is all Sim a/c!
Because if they find out you can actually trade they don't want you to take money out of the "bucketshop fund" that everyone feeds into when they pay for evals and resets. This is their buffer to keep their front-end afloat. Once they see that you can trade they want to make money from you and stop the hemorrhaging from said bucketshop fund. So, why trade with them? They scale you up. If you have access to multiple MM wouldn't you want to trade that, even with a 90/10 split? If you're taking out $10k from them to "open your own account", why would you even do that just to swing a 1 lot, when you could manage 100-500x that and grow faster? 5MM * 10% monthly return = $500k. $500k * 0.9 = $450k. Were you really that smart for withdrawing $10k and going out on your own? If you're worried about professional data fees and a measly $150/mo. you need to find another line of work my friend. Not being rude, just blunt.
you understand with $10,000 you can trade upto 20 ES mini (or 10 NQ) contracts as long as you close by 4pm EST right?
You understand that's the fastest way to blow up an account, ever? That's $1000 per point on ES. In a market that is swinging 50+ point-ranges lately. Don't even run the juice on the NQ, it would be too horrible to describe.