- 01 Oct Real testimonial about Topstep Trader + Uprofit
- Advantages and Disadvantages of Funded Accounts
- Evaluating a funded account
- Has the volatility in the market affected you?
- trading operations
- What is your way of entering and exiting the market?
- What is your goal in trading now?
- Do you want to learn to trade?
01 Oct Real testimonial about Topstep Trader + Uprofit
in Trading Funded Account
How are you traders?
Today I am not here to talk to you about myself, but rather I am here to present a Real Testimony about Topstep Trader + Uprofit told by my own student about these funding companies.
Danny is one of my students; As you know, I am dedicated to providing training so that they learn to trade, manage their emotions, the risk of operations… but above all!to be profitable by investing in the stock market! If you are not profitable, I teach you in my free trading courses or in the unlimited trading training where you have 100% advice.
Advantages and Disadvantages of Funded Accounts
Danny, what are the advantages of trading with a funded account?
For me, everything is advantages, why? very simple, I pay a monthly payment to the funding company, let’s say, between 100-150 dollars and the financing company offers you 2 things that are key for me:
- A capital to operate but before that, it asks you to achieve some objectives and that, for me personally, is a good thing because it makes you improve and learn.
- If I lose my capital, the only thing I lose is the monthly payment
What disadvantages do you find to operate with a funded account?
Well, Victor, for all of us who are just starting out, I don’t think it has disadvantages.
It may have a disadvantage for those trader’s who have been operating for a long time and are consistently profitable and make good capital since the company generally keeps 20% of what you earn.
But for all the rest of the people who are starting or who have been there for a short time, they are all advantages.
Evaluating a funded account
Has taking an assessment improved your trading?
For me it has been very useful to have some objectives:
- Do not earn more than 30% of the total in one day
- Operate at a certain time
- Reach some goals to evaluate yourself
These things have been key for me because they have made me have to adapt my operations. As a result, I have found that making less money more days is more consistently profitable than making a lot of money in one day.
How many times have you failed performing an evaluation?
Approximately 5 times and it has taken me approximately 2 months.
What difficulties have you found to pass the evaluation?
I’ve had 2 crazy days in my life and those two crazy days have made me lose my evaluation account with the company I was evaluating with.
No problem! you start over and next time you’ll do better.
This is a difficulty that I have encountered, wrestle with my own mind. Another difficulty I have found is that sometimes I have traded at times when I didn’t have to trade simply by turning on the computer.
Without a doubt, the greatest difficulty I have encountered in financing myself is myself and bad emotional operations.
What do you think of the team evaluation?
I think much better, it also depends on the person. Victor slows you down on crazy days, but if you don’t get advice from a responsible person it’s probably much worse.
Has the volatility in the market affected you?
At Topstep Trader it has not affected me, on the contrary, it has benefited me. However, with Uprofit it has affected me because at first it was good for me but then it was more complex than I thought.
What financial instruments have you traded?
I have traded with two instruments mainly:
- The DAX
- The Nasdaq
In the end, I like the Nasdaq better because it is what I have become accustomed to since these funding companies do not have the DAX and I have managed to adapt my
Do you keep a record of your trading operations?
Yes, I have an excel where I write if I have won, if I have lost, on the first, second or third operation, and what I have won or lost per day
Do you have any tricks in your trading operations?
Emotional control, emotional control, emotional control…. and so on continuously. In my operations, what I set out to do and I continue with it is that I cannot do more than 3 operations, whether only 3 operations go well or go wrong.
Depending on how well the first trade went, I don’t do any more trades. That was very difficult for me to understand because I realized that the more I trade, the more I lose.
What is your way of entering and exiting the market?
The way to exit and enter the market is a system that I have adapted. Victor shows you a way to enter and exit the market, there are a thousand, but Victor always tells you, “I don’t care if you do my shape, you can do the shape you want but always do the same”
What is your goal in trading now?
My personal goal is to reach $5,000 on Topstep Trader and $8,000 on Uprofit. Once I get it I have no idea what I’m going to do lol.
Thank you Danny for answering all my questions. I hope traders that you liked this video and see you in a next one 🙂
Do you want to learn to trade?
I hope you liked this video and you know, if you are not profitable with one account you will not be profitable with 5, so be very careful and risk management.
If you are looking to get started in the stock market, learn what trading is all about or expand your knowledge, I invite you to take the FREE trading course.
A serious basic training, with common sense and quality. Know the aspects that surround the world of trading and stock market operations.
If you have the basic knowledge but you are still not profitable, the unlimited trading course gives you access to the UNLIMITED time trading and to the newspaper library of the trading rooms
If you have more questions you can leave your comments here and I will solve them for you.