topstep futures attempt

[hayseed]

topstep allows 5 accounts per person...... signed up for the 50k account evaluations using the topstepx platform......

has end of day trailing drawdown and requires 3k to pass..... neither should be a issue..... no time limit..... 19$ a month till you do.....

the platform is quite nice..... wide assortment of indicators..... has very handy user set features.....

will rely on mq5 like always......

topstep has been around a long time..... hard to see that changing......

will update progress...... and useful platform features......

will trade small like always...... single micros, possibly 2 at times......h



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[hayseed]

just a very late update here...... due to lack of much progress.....

only passed a single 50k topstepx funded account so far...... 1 is plenty enough for me but still have 4 others in evaluation stage..... my plan is to have 5 which is maximum allowed.....

do not underestimate the difficulty in trading in general.........

multiple prop firms with differing platforms, with differing rules , with differing sized accounts makes it all the more tedious.....

with topstep, you need five 200$ days to first qualify for a payout....... for me, 200$ in a day on a 50k account is not all that easy......

i would much rather 10 days of 100$......

better still, 20 days of 50$.....h

 

[hayseed]

topstep is changing up their rules a bit...... i believe that is the term they used or maybe it was updates.....

instead of rules, i might have used the term guidelines....... from what i can tell, the changes will benefit me..... other traders might feel differently.....

existing xfa's might not be effected...... they should still go by the agreement in place when they were created......

for me, the new guidelines are clearer....... we will get transferred up to a true live account at a known point...... that allows us to prepare...... payouts are better...... the only negative is we will at that point have to pay monthly cme data fees.....

i only have three 50k xfa accounts now with a couple more challenges still shy of the profit target..... if i pass those other 2 challenges and get xfa's , they will fall under the new guidelines...... i will stop trading those last two challenges and take a 150k challenge instead......

the reason is, when pulled up to live, your largest account size appears to be what you start at...... i might be incorrect on that.....

the entire process of being pulled up to a live account is still not completely clear to me.....

in any event, truly look forward being in a true live futures trading environment......h

 

[hayseed]

remember in a challenge to be aware of any consistency rule..... topsteps is 50%, so liquidate open positions and lockout the account once that amount is made......

the last screenshot below explains my decision for taking the 150k challenge ......h
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[hayseed]

the term fomo sounds silly but the effect of falling victim can be anything but...... most of us fight it daily, or at least me.....

having a known set of rules is only part of success...... knowing how often that, set of rules, event will occur on each time frame can help .....

we open a 5 minute chart with our rules clearly in view...... of course it never fails our very signal occurred 3 bars ago..... the price has move as predicted..... do we jump on it late..... do we pass and wait for the next.....

if the event occurs 6 times a day, there is little to be gained jumping in late..... you might have 5 more chances today..... odds could favor passing, though each situation must be assessed individually...... sometimes a late entry might be best......

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some days, a single micro future can make 200$ .... 2 micros , which is my max on a 50k account, can do it almost any day...... thirty 200$ days unlocks daily payouts a topstep......

fomo and over leveraging are not our friends......h

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