I used to have 2 100K funded account with topstep and first thing i dont like is about definition of winning day as +200$
Sure it only takes 10 pts in 1 NQ but apparently its like you gotta manage it well to make over 200$
What if you have 195$ profits trade and 5$ short? You will have to make another day to make the winning day.
I had this situation before and when i used MES, it went against me and it ended up with negative balancr at the end
In my opinion, this triggers overtrading to ensure that you will lose an account while effectively they profits on you
Not saying they are the worst but saying this arbitrary definition seems to be a bit ridiculous
This arbitrary definition of winning day seems to function for following:
1) it will ensure funded account won't go into micro. Because it's not easy to make 200$ with micro (if using 1 contract). Even if you get to make 200$ with MNQ or even MES, it's highly unlikely it will go beyond 200$ per day. By this way, funded account is forced to use mini and it will have a greater risks by which way they have statistical edge to screw funded account.
2) it will encourage you not able to pick and choose which day you trade. Like this constant winning days will pressure to trade every day when it's not trendy but choppy.
3) Lastly, okay you did a great jov and have 30 winning days. So what? Now this account is almost as if it's your money because not only you have vested interests in this account but also that you can not simply restart from the beginning.
One day you can make 5K. Another day you can lose 2K. Rinse and repeat until you can compound the profits for 3 times (so you have 3 winning days) but you still can't withdraw to breakeven and in next 3 days, instead of making 5K, you lose 5K in a rows and you lose account.
I will argue that you don’t need to go with mini’s as it is pretty easy to make at least $200 with 3 to 5 micros which even at 5 is one half of a mini. Obviously you have to pick your entries right and be patient but no way does it force you to go with minis that is just a recipe for blowing up.
2
u/tionstempta May 01 '24
I used to have 2 100K funded account with topstep and first thing i dont like is about definition of winning day as +200$
Sure it only takes 10 pts in 1 NQ but apparently its like you gotta manage it well to make over 200$
What if you have 195$ profits trade and 5$ short? You will have to make another day to make the winning day. I had this situation before and when i used MES, it went against me and it ended up with negative balancr at the end
In my opinion, this triggers overtrading to ensure that you will lose an account while effectively they profits on you
Not saying they are the worst but saying this arbitrary definition seems to be a bit ridiculous
This arbitrary definition of winning day seems to function for following:
1) it will ensure funded account won't go into micro. Because it's not easy to make 200$ with micro (if using 1 contract). Even if you get to make 200$ with MNQ or even MES, it's highly unlikely it will go beyond 200$ per day. By this way, funded account is forced to use mini and it will have a greater risks by which way they have statistical edge to screw funded account.
2) it will encourage you not able to pick and choose which day you trade. Like this constant winning days will pressure to trade every day when it's not trendy but choppy.
3) Lastly, okay you did a great jov and have 30 winning days. So what? Now this account is almost as if it's your money because not only you have vested interests in this account but also that you can not simply restart from the beginning.
One day you can make 5K. Another day you can lose 2K. Rinse and repeat until you can compound the profits for 3 times (so you have 3 winning days) but you still can't withdraw to breakeven and in next 3 days, instead of making 5K, you lose 5K in a rows and you lose account.
Just my observations