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General First Impressions
I cant quite believe this prop trading firm is real. Like honestly where to begin... first off, their website automatically sent me to a bunch of weird spanish links:
Right off the bat I'm like, ok am I about to get rugged? But apparently they are based out of Texas... ?
Ok whatever, so I'm looking at the packages they offer and its basically the run of the mill 50,000 / 70,000 / 100,000 USD packages with reasonable non-trailing drawdowns. So right off, I'm kinda intrigued.
I start looking at the 100k package:
12 contracts / $2200 drawdown. On a trailing drawdown, $2200 would be really stressing me out. But their drawdown system doesnt play that shit. So at 12 contracts, I can take down $600 a point... and the profit threshold for funding is $6000... so I just need to bink 10 points and then pad out the rest of the 10 required trading days.
You know what? Doable.
And then we have their payout policy. Folks... I have no fucking words. If they actually live up to whats being offered here, this is a brave new era of degeneracy:
I'm just going to cut / paste here because honestly I'm just speechless:
Request processing time in less than 24 hours. Funds withdrawal consists of 2 stages: processing of the request execution at the close of the market 16.10 EST.
24/7 service. The withdrawal system works 24 hours a day, 7 days a week. All of our traders can withdraw their funds at any time, even at night, on weekends or holidays.
Withdrawal methods include: Paypal, bank wire, ACH, international wire transfer, cryptos (USDC o USDT), Visa and Mastercard.
* bites knuckle *
Are you fucking kidding me? That's unbelievably sick, you can literally run it up crucial with 12 fucking contracts, which is more than enough leverage to take down $10k+ in an hour or two, and then cash it the fuck out to your bank account, credit card, or CRYPTO WALLET within 24 hours of the request being made.
No muss, no fuss.
Now. Yes, there is a catch.
For the first 40 days, ( thats 2 months of trading once funded) they rake 50% of your earnings. After 2 months / 40 trading days, they drop back to the industry standard 80/20 split in my favor.
So yeah the first 40 days, if you cash out 10k, they keep 5k, you get 5k. After you file taxes at the end of the year, youre clearing $3250 or so off $10k. And yeah thats not great but its also $3250 for a day or two of highly +EV gambling using $100,000 of someone elses money.
Or just leave the money in the account and cash out after the 41st trading day and your 10k after rake is $8000, or $5200 after taxes. Much, much better.
If you want to do better than that, go be a fuckin bank.
The price for the 100k combine is $315 a month. I signed up late last week, bought a reset for the usual $100 when I got caught out of position on my first try, and passed the gauntlet this morning before lunch:
So for the next 8 days, I'll be taking small ball positions with micro contracts to fulfill the 10 trading days total requirement without putting my $6000 minimum in any real jeopardy.
In 2 weeks I should have funding and we can hopefully test out this withdrawal system.
Oh one thing I should mention; the contract fees are rather extreme. Basically youre paying $5 'round trip' per contract, so when you take a 12 contract position, win or lose youre paying $60 for it. So when you combine that with the static drawdown, theres a fair amount of logic behind staying in the saddle and riding out reversals.
It will be interesting to see how that impacts my PnL once funding is secured.
Anyway you get the idea, the math is described in detail in the futures adventure thread.
Will update in 2 weeks once papers are signed and funded account is live.
But so far? Fuckin thumbs up on uprofit, wow.
I cant quite believe this prop trading firm is real. Like honestly where to begin... first off, their website automatically sent me to a bunch of weird spanish links:
Right off the bat I'm like, ok am I about to get rugged? But apparently they are based out of Texas... ?
Ok whatever, so I'm looking at the packages they offer and its basically the run of the mill 50,000 / 70,000 / 100,000 USD packages with reasonable non-trailing drawdowns. So right off, I'm kinda intrigued.
I start looking at the 100k package:
12 contracts / $2200 drawdown. On a trailing drawdown, $2200 would be really stressing me out. But their drawdown system doesnt play that shit. So at 12 contracts, I can take down $600 a point... and the profit threshold for funding is $6000... so I just need to bink 10 points and then pad out the rest of the 10 required trading days.
You know what? Doable.
And then we have their payout policy. Folks... I have no fucking words. If they actually live up to whats being offered here, this is a brave new era of degeneracy:
I'm just going to cut / paste here because honestly I'm just speechless:
Request processing time in less than 24 hours. Funds withdrawal consists of 2 stages: processing of the request execution at the close of the market 16.10 EST.
24/7 service. The withdrawal system works 24 hours a day, 7 days a week. All of our traders can withdraw their funds at any time, even at night, on weekends or holidays.
Withdrawal methods include: Paypal, bank wire, ACH, international wire transfer, cryptos (USDC o USDT), Visa and Mastercard.
* bites knuckle *
Are you fucking kidding me? That's unbelievably sick, you can literally run it up crucial with 12 fucking contracts, which is more than enough leverage to take down $10k+ in an hour or two, and then cash it the fuck out to your bank account, credit card, or CRYPTO WALLET within 24 hours of the request being made.
No muss, no fuss.
Now. Yes, there is a catch.
For the first 40 days, ( thats 2 months of trading once funded) they rake 50% of your earnings. After 2 months / 40 trading days, they drop back to the industry standard 80/20 split in my favor.
So yeah the first 40 days, if you cash out 10k, they keep 5k, you get 5k. After you file taxes at the end of the year, youre clearing $3250 or so off $10k. And yeah thats not great but its also $3250 for a day or two of highly +EV gambling using $100,000 of someone elses money.
Or just leave the money in the account and cash out after the 41st trading day and your 10k after rake is $8000, or $5200 after taxes. Much, much better.
If you want to do better than that, go be a fuckin bank.
The price for the 100k combine is $315 a month. I signed up late last week, bought a reset for the usual $100 when I got caught out of position on my first try, and passed the gauntlet this morning before lunch:
So for the next 8 days, I'll be taking small ball positions with micro contracts to fulfill the 10 trading days total requirement without putting my $6000 minimum in any real jeopardy.
In 2 weeks I should have funding and we can hopefully test out this withdrawal system.
Oh one thing I should mention; the contract fees are rather extreme. Basically youre paying $5 'round trip' per contract, so when you take a 12 contract position, win or lose youre paying $60 for it. So when you combine that with the static drawdown, theres a fair amount of logic behind staying in the saddle and riding out reversals.
It will be interesting to see how that impacts my PnL once funding is secured.
Anyway you get the idea, the math is described in detail in the futures adventure thread.
Will update in 2 weeks once papers are signed and funded account is live.
But so far? Fuckin thumbs up on uprofit, wow.
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