Topstep ELIMINATES 2-step evaluations
Game changing news for the original online prop firm
Topstep - Pioneers in online prop trading
In the world of prop trading,Topstep were true pioneers.
They paved the way to trader financing novice traders who don't have a track record or a professional qualification by introducing paid subscriptions for funding challenge assessments.
Fast forward to the post-Covid era we have an explosion of online prop firms. Many of them without ANY additional discipline rules.
For me, this has raised concerns about the freedom afforded to inexperienced traders. Without proven self-discipline and the ability to navigate volatile markets, too much freedom can lead to a loss of direction.
While signing up for a prop program minimal rules may seem enticing, it often ends in disappointment, sending novice traders back to square one. So there were positives and negatives with both models of prop firms: super restrictive ones and the newer ones with minimal rules.
While I loved most of Topstep rules for novice traders that nourish discipline: consistency, daily loss limit, etc, there was one rule in particular that left me dissatisfied: the requirement of a two-step evaluation.
This meant a lengthy process of achieving a target three times over before receiving any payout. But the good news is, they've made a change! Now, the improved structure presents a more riveting opportunity for aspiring traders. By integrating innovative techniques and embracing market dynamics, you can embark on a rewarding journey, with a clearer path to success. Say goodbye to the lengthy evaluation process and hello to a faster, more exciting prop trading adventure!
They paved the way to trader financing novice traders who don't have a track record or a professional qualification by introducing paid subscriptions for funding challenge assessments.
Fast forward to the post-Covid era we have an explosion of online prop firms. Many of them without ANY additional discipline rules.
For me, this has raised concerns about the freedom afforded to inexperienced traders. Without proven self-discipline and the ability to navigate volatile markets, too much freedom can lead to a loss of direction.
While signing up for a prop program minimal rules may seem enticing, it often ends in disappointment, sending novice traders back to square one. So there were positives and negatives with both models of prop firms: super restrictive ones and the newer ones with minimal rules.
While I loved most of Topstep rules for novice traders that nourish discipline: consistency, daily loss limit, etc, there was one rule in particular that left me dissatisfied: the requirement of a two-step evaluation.
This meant a lengthy process of achieving a target three times over before receiving any payout. But the good news is, they've made a change! Now, the improved structure presents a more riveting opportunity for aspiring traders. By integrating innovative techniques and embracing market dynamics, you can embark on a rewarding journey, with a clearer path to success. Say goodbye to the lengthy evaluation process and hello to a faster, more exciting prop trading adventure!
Topstep back at the top... step?
Topstep has finally joined the changing and evolving online prop industry by scrapping their old 2-step evaluations. It's about time, right?
But guess what? They're back in the game now.
Not only do they have the 1 step evaluation, but they also made the daily loss limit a 'soft' rule. Isn't that amazing? Now, even on those days when everything seems to go haywire, you can hit the daily loss limit and prevent further losses without failing the challenge or losing the account.
It's like the some the better, old-school in-office prop firms I used to work for. Sure, you'd be locked out for a certain period, but at least you wouldn't lose your entire account.
And that's not all— Even if you hit the max drawdown rule before reaching the minimum required payout balance, Topstep will pay the rest of your funded account balance. Just like TradeDay. With all these positive changes, Topstep is definitely back in the game and leading the way for novice traders who want to dive into the pro trading waters.
But guess what? They're back in the game now.
Not only do they have the 1 step evaluation, but they also made the daily loss limit a 'soft' rule. Isn't that amazing? Now, even on those days when everything seems to go haywire, you can hit the daily loss limit and prevent further losses without failing the challenge or losing the account.
It's like the some the better, old-school in-office prop firms I used to work for. Sure, you'd be locked out for a certain period, but at least you wouldn't lose your entire account.
And that's not all— Even if you hit the max drawdown rule before reaching the minimum required payout balance, Topstep will pay the rest of your funded account balance. Just like TradeDay. With all these positive changes, Topstep is definitely back in the game and leading the way for novice traders who want to dive into the pro trading waters.