TradingView is an invaluable tool for traders of all levels, providing cutting-edge charting and analytical resources. The platform has made a significant impact on the trading community, and many proprietary (prop) trading firms have adopted it as a key part of their trading infrastructure.

This article will delve into the features that make TradingView popular among prop firms and highlight three key platforms that actively use TradingView for their trading activities.

Learn More About TradingView

Funded Trading Plus

Funded Trading Plus is another notable prop trading firm that leverages the capabilities of TradingView. Specializing in forex and commodities trading, Funded Trading Plus offers a variety of account sizes to prospective traders.

They particularly appreciate TradingView’s extensive indicator library, which allows traders to analyze multiple markets with precision. TradingView’s social community feature is also a hit, enabling traders to share and debate trading ideas, helping them to refine their strategies. Get started with Funded Trading Plus by using coupon code MODEST and get a 10% Discount!
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FunderPro

FunderPro was founded in 2023 and based in Malta. Imagine managing up to $200,000 in capital with profit splits as high as 90%, all while trading forex pairs, commodities, indices, and cryptocurrencies, without risking your own money. What makes FunderPro stand out for me is its simplicity. Their two-phase evaluation process gives traders unlimited time to prove their skills. No deadlines, no stress. Pass the challenge, and you’re in, with no profit targets to worry about—, ust simple loss rules to follow.

Plus, you get weekly payments, starting just seven days after your first profitable trade. With institutional data feeds and access to live corporate accounts through a partnership with a tier-1 liquidity provider, you’re set up for success. And FunderPro’s TradeLocker platform? It’s sleek, cutting-edge, and built to make your trading experience smoother. They’ve even got educational resources to sharpen your skills, and their risk management dashboard is a game-changer. Trust me, if you’re looking for a firm that truly supports its traders, FunderPro should be on your radar.

Use my promo code ‘modest10’ to save 10% on FunderPro!

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TradeDay

If you’re into futures trading, let me introduce you to TradeDay, a prop trading firm that makes futures trading feel accessible and rewarding. What I love about TradeDay is its straightforward approach. They offer a clear evaluation challenge to identify traders ready to move to the live futures market. No confusing rules, just a simple, transparent path to get funded. The firm, founded by industry veterans James Thorpe, Steve Miley, and Tera Vicker, goes the extra mile by offering coaching, webinars, and educational tools to help traders grow.

Whether you’re just getting your feet wet or already have some trading experience, TradeDay has something for everyone. From flexible platform options to a variety of account sizes, you’ll find a plan that fits your needs. What’s more, their profit-sharing model is incredibly attractive. Honestly, the more I looked into their resources and community support, the more I realized TradeDay isn’t just a platform; it’s a place where traders are nurtured and rewarded for their efforts.

Ready to give it a shot? Use coupon ‘modestmoney’ and get 20% off TradeDay’s services!
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The 5ers

The 5ers is another standout in the world of prop trading. Their name reflects their mission, funding only the top 5% of traders. And I have to say, they’ve built a strong reputation. What’s cool about The 5ers is their commitment to providing instant funding, with capital access up to $4 million for the most skilled traders. They focus on forex, metals, and indices, so if that’s your trading style, you’ll feel right at home.

One thing I really appreciate is their transparency. The evaluation process is crystal clear, and they offer plenty of educational resources, like webinars and trading strategies, which are perfect for honing your skills. They even have demo accounts for beginners, so you can get comfortable before diving in with real money. Overall, The 5ers has created an environment where traders can thrive and grow.

Use our exclusive discount to save 5% on The 5ers and get started today!
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Earn2Trade

Let’s talk about Earn2Trade, a prop firm with a focus on education. This isn’t just a place to trade, it’s a place to learn and grow as a trader. What really sets Earn2Trade apart is its educational approach. During your subscription, you’ll get access to a trading simulator, where you can prove your skills and get funded upon successful completion. It’s a structured, clear progression ladder, with plenty of resources to help you along the way.

It’s worth mentioning that Earn2Trade focuses strictly on futures trading, so it’s ideal for those confident in navigating that market. Personally, I find their system appealing because it offers clear goals without being overwhelming. Plus, there’s no monthly fee once you’re funded—another nice touch. If you’re an experienced trader looking for a clear path into the world of professional futures trading, Earn2Trade might be the right choice for you.

Don’t miss out on 50% off with coupon code ‘modestmoney’ for a limited time!
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MyFundedFutures

Finally, let’s take a look at MyFundedFutures, which just launched in September 2023. If you’re a futures trader looking to get funded, this could be the perfect firm for you. What makes MyFundedFutures really appealing to me is the speed and simplicity. You can pass their evaluation in as little as one day, and they’ve done away with activation fees, which is a breath of fresh air in the world of prop trading.

Even better? You keep the entire first $10,000 of profit, which is a great incentive. Plus, you can manage multiple accounts at once, up to ten, giving you plenty of flexibility. And let’s not forget that MyFundedFutures is an offshoot of the successful MyFundedFX, so they come with experience in the funding space. For traders who want to get into futures trading quickly, without a lot of red tape, this firm is worth considering.
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Ready to learn more? Click Here To Start Today!

The Drawbacks and How Firms Mitigate Them

No platform is perfect, and TradingView is no exception. Some common criticisms include limitations on the number of indicators that can be applied in the free version and occasional data feed lags. However, prop firms often mitigate these drawbacks by opting for TradingView’s premium plans that offer more resources.

Additionally, firms may integrate TradingView with other platforms or proprietary systems to create a more robust trading environment. By leveraging TradingView’s API, firms can even develop custom features tailored to their specific trading needs.

Community and Educational Aspects of TradingView

One of the most unique and powerful features of TradingView is its robust online community of traders, analysts, and enthusiasts. This network is especially beneficial for prop firms that aim to train and nurture trading talent.

Forums, interactive chats, and a plethora of shared trading ideas make it an invaluable resource for learning and skill refinement. Firms like TopStep, which already have rigorous training programs, can use these community features to complement their in-house training resources.

The educational content available on TradingView can also serve as a foundational or supplementary training ground for traders associated with prop firms. The platform offers comprehensive articles, webinars, and tutorials on various trading strategies, risk management, and market analysis.

Prop firms like Funded Trading Plus and Elite Trader Funding can leverage these resources to enhance the educational aspect of their trading programs, helping traders keep up-to-date with the latest market trends and strategies.

This is especially beneficial for firms focused on continuous learning and adaptation in the fast-paced world of trading.

Future Developments and Trends in Trading Technology

The world of trading is in a constant state of flux, driven by technological advancements and changing market conditions. Platforms like TradingView are continuously updating their features and capabilities to stay ahead of the curve.

The platform’s commitment to incorporating emerging technologies, such as AI and machine learning for market analysis, indicates a future where technology plays an even greater role in trading. Prop firms need to consider how they will adapt to or take advantage of these technological advancements to maintain a competitive edge.

Staying ahead in the trading industry requires more than just capital and skilled traders; it necessitates a forward-thinking approach to technology. As blockchain technology, decentralized finance (DeFi), and other innovations become more prevalent, trading platforms and prop firms alike must be prepared to evolve.

Firms should be looking at how they can integrate these new technologies to enhance trading performance, risk management, and operational efficiency. Prop firms that are quick to adapt to these changes are more likely to succeed in the increasingly complex and competitive landscape of financial trading.

Wrap-Up

In summary, TradingView has revolutionized the way trading firms operate by offering a host of features that make market analysis and strategy implementation more efficient. Firms like MyFundedFutures, Funded Trading Plus, and The 5ers are excellent examples of how TradingView’s functionalities can be utilized for maximizing trading performance.

Whether you’re a solo trader or part of a prop firm, the case for using TradingView is compelling. It provides a flexible, feature-rich environment conducive to making well-informed trading decisions, making it an essential tool in today’s trading landscape.

Receive $15 Welcome Bonus!

Get Started With TradingView

The post Prop Firms That Use TradingView appeared first on Modest Money.

Profit Splits in Prop Firms

In return for the provided funding, the prop firms receive a share of the traders’ profits. This arrangement is commonly referred to as profit splits. High payout percentages are a key characteristic of top forex prop firms.

Choosing a Prop Firm: Important Factors

When choosing a prop firm, traders should consider several important factors:

• Track Record: Check reviews and ratings on platforms like TrustPilot to gain insights into the firm’s reputation and performance.
• Withdrawal Policies: Understand how and when you can access your profits.
• Customer Support: The level of customer support can impact your trading experience significantly. Check whether they offer live chat, email, or phone support.
• Fees: Ascertain the firm’s fee structure. This could include monthly or one-time fees that traders pay for the capital and resources provided.

Revenue Sources for Prop Firms

Prop trading companies usually derive their revenue from two main sources:

• Commissions: This is the share of the profits that the prop firm takes. Ideally, the best firms offer a commission range between 10-25%.
• Fees: These can be monthly or one-time fees. Monthly fees can vary, typically ranging from $50 up to $150 or more.

Trading Styles and Strategies

Prop firms cater to a variety of trading styles and strategies, ranging from short-term day trading to long-term swing trading. They cater to both retail traders and professional traders.

Evaluation Stages in Prop Firms

Before receiving funding, traders usually need to go through evaluation stages. This often involves a two-step evaluation process. First, traders demonstrate their skills using a demo account. Then, they move on to trade with real money. Prop firms set Profit Targets and may require a minimum number of trading days. Successful traders can then enjoy instant funding benefits.

10 Highest Paying Prop Trading Firms

Now that you know more about prop firms and their fees, let’s take a look at seven of the highest paying prop trading firms so you can keep as much of your profits as possible.

FTMO

Profit Split: 80/20 or 90/10

FTMO Challenge Fee: 155 EUR to 1,080 EUR (refundable fee)

Next up is FTMO, a well-known prop firm that provides funded trading accounts to eligible traders.

There’s a one-time refundable fee to partake in the FTMO challenge. Upon successful completion and account verification, this fee will be refunded to you. When it comes to splits, FTMO’s default is 80/20, though it does go up to 90/10 for traders who meet the condition of their Scaling Plan.

The process to gain eligibility with FTMO involves two parts. To get your funded account, you must first pass the FTMO Challenge. It works by asking you to prove your trading abilities with a simulated account. You then move onto a live account in order to pass the Verification phase.

FTMO sports an excellent track record, with repeated awards for Deloitte’s Technology Fast 50. If you want to explore FTMO’s offerings and take advantage of a free trial, click here.

Learn More

City Traders Imperium

Profit Split: Up to 100/0

One-Time Fee: $99 to $949

City Traders Imperium is another top prop firm when it comes to funded options trading. While many prop firms play into the idea of getting rich quickly to entice new traders, City Traders Imperium offers robust educational resources and is straightforward about what to expect.

For example, there are no hidden or monthly fees with CTI. There’s a one-time fee of $99 to $949 depending on your account, with higher fees to receive direct funding. Profit splits go up to 100%, which is as good as it gets.

Traders can either pass the Day Trading Challenge (for forex, indices, and commodities) or pay a larger sum to receive direct funding immediately.

Click here to check out City Traders Imperium and become a funded trader through one of their evaluation plans or by opting for direct funding. Use coupon code CTI10% for 10% off!

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Earn2Trade

Profit Split: 80/20

Monthly Subscription Fee: $150 to $550

Last but not least is Earn2Trade, which calls itself a “trading education company” rather than a prop firm. A unique company, Earn2Trade connects successful traders with trading firms.

Earn2Trade has many different programs, including the Gauntlet, Gauntlet Mini, and Trader Career Path. The fees depend on the program, but all Earn2Trader programs offer an 80/20 split.

Founded in 2016 and currently holding a score of 4.8/5 on Trustpilot, Earn2Trade provides traders with a reliable option to funded trading.

Click here to learn more about Earn2Trade and see if it’s right for you! Use coupon code modestmoney for 20% off!

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Take Profit Trader

Profit Split: 80-90%
Fee: $150 – $360

Take Profit Trader is a futures-focused prop trading firm offering a streamlined approach to helping traders maximize their profit potential. With account sizes ranging from $25,000 to $150,000, traders can choose the level that best suits their needs and experience. One standout feature is that there are no minimum trading days required before your first withdrawal, and the withdrawal process is instant. I love this feature, why should we have to wait to receive our hard earned money?

What is more, Take Profit Trader offers pro accounts that come with three resets and realistic profit targets, making it ideal for traders looking for flexible terms. There’s also a wide variety of futures instruments to trade, along with access to over 30 trading platforms, which almost ensures you won’t have to switch your preferred platform. Take Profit Trader stands out with its emphasis on realistic profit goals and high-quality customer service.

Use coupon code MODESTMONEY to save 50% on Take Profit Trader!
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Apex Trader Funding

Profit Split: Up to 90%
Fee: $157 – $677

Apex Trader Funding is a leading proprietary trading firm that provides futures traders with an innovative, one-step evaluation process. With a variety of account sizes ranging from $25,000 to $300,000, Apex Trader Funding allows traders to prove their skills and earn a fully funded account. One of its most appealing features is the flexibility of trading strategies, including news trading, without complex rules or daily loss limits.

Traders benefit from a competitive profit split of up to 90%, fast payouts, and a user-friendly interface that makes it easy for traders of all experience levels to engage with the platform. Apex Trader Funding offers great educational resources. Apex Trader Funding is a great choice for both new and experienced traders.

Save 80% on evaluations and $35 resets with coupon code FXJEPTUV!
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FunderPro

Profit Split: Up to 90%
Fee: $79 – $1199

FunderPro offers traders the chance to manage accounts up to $200,000. With a high-profit split of up to 90%, traders can focus on growing their accounts by trading forex, commodities, indices, and cryptocurrencies. FunderPro provides traders with unlimited time to prove their skills, ensuring they can trade at their own pace without the pressure of deadlines.

One of the unique features of FunderPro is its daily payout option, once a trader has a profitable trade, they can request payouts as frequently as every day, provided their profit exceeds $100. Many other prop firms only allow monthly or bi-monthly withdrawals, so this is a huge advantage. The platform also offers high leverage of up to 1:200 and access to advanced tools like the TradeLocker platform, making it an ideal choice for serious traders.

Use coupon code MODEST10 to save 10% on FunderPro!
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The 5ers

Profit Split: Up to 100%
Fee: $39 – $850

The 5ers is a prop firm known for offering instant funding with no evaluation phase, allowing traders to access capital up to a whooping $4 million. Specializing in forex, metals, and indices, The 5ers supports traders through their innovative platform, offering tailored account sizes and flexible trading options. With leverage options of 1:6 for low-risk accounts and 1:30 for aggressive accounts, it caters to different trading styles and risk appetites.

What sets The 5ers apart is their commitment to education. The platform provides comprehensive learning resources, from trading strategies to webinars, helping traders continuously improve. New traders can start with a demo account, while experienced traders can dive right into funded trading. With a transparent and fair evaluation process and consistent support, The 5ers is a standout in the proprietary trading space.

Save 5% on The 5ers with our exclusive discount!
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Choosing the Highest Paying Prop Firms

The best prop trading firms will have a streamlined process and pay traders a high percentage of their profits. The highest paying prop trading firms, like those covered above, generally pay out around 80-90%.

Once you’ve ensured a prop firm pays out well, then you can consider other factors, such as the process to get a funded account and the various rules they have (e.g. daily drawdown, withdrawal minimums, etc.).

The post Highest Paying Prop Trading Firms (2025) | 10 Top Prop Firms for High Payouts appeared first on Modest Money.

TopStep Promo Code Update

Hey everyone, just a quick update from us. Since we first shared this post, our experience with TopStep has taken a bit of a nosedive, and we wanted to give you the heads-up. Honestly, we no longer recommend them, and here’s why: the quality of their service has dropped significantly, and we’re not feeling confident about their honesty and integrity anymore.

Reviews like you see above, are becoming all too common. They shared their frustration about TopStep’s lack of customer support. Picture this: you’re stuck with a trading issue, and the only way to reach out is through a chat bot. If the bot can’t help (spoiler: it often can’t), your message supposedly goes to a “team” that never actually gets back to you. That’s just not okay, especially when your money and trades are on the line.

We’re not alone in feeling this way. A lot of traders are sharing similar horror stories across various platforms, and it’s become clear that TopStep’s service isn’t living up to what traders need, reliable support and quick fixes when things go sideways.

So, we decided it’s time for a change. We’re now recommending Take Profit Trader instead. Why? Well, they’ve got a lot going for them, like instant withdrawals, higher profit shares, and, most importantly, top-notch customer support that actually responds when you need them. Plus, their trading environment just feels a lot more dependable and realistic, which is what we all want, right?

We’re leaving the rest of the original post below so you can see where we started, but keep in mind our stance has changed for a reason. If you’re looking for a prop trading firm that won’t leave you hanging, Take Profit Trader might be your best bet right now. To dig deeper into Take Profit Trader, check out our full review by clicking the link.

TopStepTrader is a funded trader program that has been making waves in the futures trading space. It offers traders a unique opportunity to trade without risking their own capital, provided they successfully pass a series of stringent trading evaluations.

In this TopStepTrader review, we will delve into the core aspects of the platform, examining its distinctive features, pricing structure, and various ways to save on subscription costs through a discount code.

TopStepTrader’s model revolves around identifying and funding talented traders. The platform’s evaluation process is designed to test traders’ skills rigorously, ensuring that only the most proficient traders qualify for funded accounts. This system not only mitigates risk for the traders but also aligns with TopStepTrader’s goal of fostering a community of disciplined and successful traders.

In this article, we will cover everything you need to know about TopStepTrader. From the pricing options to the specific benefits of the platform, and how you can leverage discount codes to make the most of your subscription, this comprehensive guide will provide you with all the information needed to determine if TopStepTrader is the right choice for you.

Learn More About TopStep

What Is TopStepTrader?

TopStepTrader is a specialized funded trader program that serves the futures trading market. The primary objective of this platform is to offer traders the chance to trade in real-time market conditions without putting their own capital at risk. To achieve this, TopStepTrader requires participants to undergo a series of rigorous evaluations to demonstrate their trading acumen. Those who successfully pass these evaluations are given access to a funded trading account, where they can trade a variety of futures contracts.

The program offers compatibility with 14 different trading platforms, accommodating traders with different technical preferences and requirements. This diversity in platform support allows traders to continue using software they are already comfortable and experienced with, thereby reducing the learning curve and facilitating smoother transitions to funded trading.

One of the unique selling propositions of TopStepTrader is its educational element. Beyond just funding, the platform aims to enhance the trading skills of its participants. This is evident in the simulated account phase that traders enter after passing the initial evaluations. This simulated environment serves as a practical educational tool where traders can refine their strategies and decision-making processes without financial risk

TopStep’s Features and Offerings

Trading Platforms

One of the standout aspects of TopStepTrader is its compatibility with a variety of trading platforms. The service supports as many as 14 different trading platforms, making it accessible and versatile for traders with diverse platform preferences.

This includes popular platforms like NinjaTrader, TradingView, and T4, allowing traders to utilize the tools they are most comfortable with. This flexibility ensures that traders can maintain their usual workflow and leverage familiar features, enhancing their trading efficiency and effectiveness.

Funded Account Options

TopStepTrader is renowned for its funded account options, providing traders with the capital needed to trade without risking their own money. The platform recently introduced a 1-Step program, simplifying the funding process.

This new offering allows traders to achieve funded status more quickly by passing a single evaluation phase, reducing the complexity and time involved in getting funded. This innovation is particularly beneficial for experienced traders who can demonstrate their skills and discipline in a shorter timeframe.

Pricing Structure

The pricing structure of TopStepTrader is directly linked to the type of funded account you aim for. Various packages are designed to suit traders with different needs and budget constraints.

For instance, smaller account sizes come with lower monthly fees, making it accessible for beginners, while larger accounts require higher fees but offer more substantial capital for trading. This tiered pricing ensures that traders can select a plan that aligns with their trading goals and financial capabilities.

Simulated Account

A noteworthy feature of TopStepTrader is its simulated account, which traders use after passing the initial evaluations. This simulated trading environment allows traders to further refine their strategies and practice risk management without the pressure of real money trading. It serves as a bridge between the evaluation stage and the live funded account, helping traders to transition smoothly and confidently.

This additional layer of preparation is crucial for developing the discipline and consistency needed for successful trading.

TopStep Trader Discount Code: Pricing

TopStepTrader offers a range of membership plans specifically designed for those who are trading on simulated accounts. Each membership tier comes with its own set of requirements and benefits. These plans are designed to help traders transition from simulation trading to a funded trader status:

$50k Buying Power Plan

• Cost: $49 per month
• Profit Target: $3,000 per evaluation step
• Maximum Contracts: 5
• Daily Loss Limit: $1,000
• Trailing Drawdown: $2,000

$100k Buying Power Plan

• Cost: $99 per month
• Profit Target: $6,000 per evaluation step
• Maximum Contracts: 10
• Daily Loss Limit: $2,000
• Trailing Drawdown: $3,000

$150k Buying Power Plan

• Cost: $149 per month
• Profit Target: $9,000 per evaluation step
• Maximum Contracts: 15
• Daily Loss Limit: $3,000
• Trailing Drawdown: $4,500

TopStep Trader Discount Code

There are currently no Topstep promo codes that can be applied during the subscription process. However, there are alternative ways to receive a discount on their services.

For instance, Modest Money provides a unique link that offers a 60% discount on TopStepTrader subscriptions. By using this link, prospective traders can avail themselves of a significant reduction in the overall cost, making the program more affordable. It is advisable to look for such opportunities if you are considering joining TopStepTrader to ensure you are getting the best possible deal. Please note that such offers are subject to terms and conditions, and it is essential to read the fine print to understand the scope of the discount.

This 60% discount through Modest Money offers a valuable opportunity for traders who are interested in the program but may be hesitant due to budget constraints. Utilizing this alternative to TopStepTrader coupons could make the decision to join TopStepTrader easier, allowing you to focus more on honing your trading skills without worrying about the initial financial commitment.

Pros and Cons of TopStepTrader

Pros

• Supports 14 different trading platforms
• Offers a variety of funded account options
• Introduced a simplified 1-Step program
• Pricing structures to suit different budgets
• Provides a simulated account for strategy refinement
• No risk to personal capital during evaluations

Cons

• Monthly fees can be high for larger accounts
• Strict evaluation criteria can be challenging
• Limited details available on the new 1-Step program

TopStepTrader Discount Code: Final Verdict

TopStepTrader is a comprehensive funded trader program that goes beyond just providing capital to traders. Its diverse platform support, various funding options, and the emphasis on educational content make it a valuable service for both novice and experienced traders.

However, the program may not be suitable for everyone. The stringent evaluations are geared toward filtering out unskilled traders, so if you’re new to trading, you might find it challenging to get funded.

If you are a trader looking to polish your skills while having the opportunity to trade without risking your own capital, TopStepTrader could be an excellent option for you. Although there is no TopStepTrader discount code, take advantage of this link and save 60% off on this opportunity to explore the world of trading.

Get Started With TopStep

The post TopStep Discount Code appeared first on Modest Money.

Over the past few months, I’ve had some eye-opening experiences with TopStep, and unfortunately, they haven’t been positive. When I originally wrote about TopStep, I believed it was a reliable option for traders looking to hone their skills and potentially get funded. However, after receiving feedback from numerous traders and witnessing firsthand how the quality of their service has declined, I can no longer recommend TopStep.

One of the most concerning issues, to me, is the growing number of complaints from traders who have tried to pass the TopStep combine.

Take this user’s experience for instance. They highlighted how TopStep manipulated trading conditions, leading traders into unnecessary losses. The reviewer noticed that while trading the same strategy on both their personal account and TopStep’s platform, their personal account was consistently more profitable. Reviews like this raise serious concerns about the integrity of TopStep’s platform.

Such practices not only undermine trust but also put traders at a significant disadvantage. When confronted, TopStep’s response was dismissive. They even threatened to ban the reviewer if they continued to question these practices. This behavior is unacceptable and unfortunately, this isn’t an isolated incident.

Given these new developments, I strongly advise against using TopStep. I recommend exploring other prop trading firms that prioritize fairness and transparency, and luckily, there are still a few honest companies out there. Take Profit Trader is one of those firms that stands by its commitment to supporting traders. Not only does Take Profit Trader offer instant withdrawals and a more competitive profit share of 80-90%, but they also provide realistic profit targets and a variety of trading platforms.

One of the biggest complaints about TopStep’s declining service, is their customer service, or lack thereof. Many recent reviews have pointed out that TopStep’s customer service bot is useless, getting an actual human response takes days, and the human representative usually isn’t helpful.

You won’t have these issues with Take Profit Trader. Take Profit Trader’s customer support is top-notch. They even go the extra mile by hosting trading competitions with attractive prizes. If you’re serious about trading and want to partner with a firm that values your success, Take Profit Trader is the much better option.

Please feel free to read through the rest of this article for more details about TopStep, but keep in mind that my views on them have changed. I’m leaving the original content intact for reference, but my current recommendation is clear: skip TopStep and consider Take Profit Trader instead.

You can read more about Take Profit Trader by clicking the link.

The financial markets are a compelling arena for investors, often acting as a battleground between bulls and bears. The ability to practice and perfect your trading strategies without risking your hard-earned capital is a concept that has always been sought after by many.

This is where TopStep (or TopStepTrader) steps in. While there are no Topstep promo codes available, the company offers a stellar deal that can make your trading journey less treacherous and more profitable.

Simply click on my link to get an immediate 60% off on TopStep’s products. However, bear in mind that it’s a limited time offer, and you might not want to miss this golden opportunity.

Click here for 60% off.

Save 60% on TopStepTrader Today

Overview of TopStep Services

TopStep is a unique platform that offers you a safer passage into the trading world. Their TRADING COMBINE allows traders to trade risk-free in a simulated environment.

However, this isn’t just any old demo trading. If you can meet their criteria, TopStepTrader gives you the chance to trade with their capital. Yes, that’s right. They put their money where their mouth is!

In your shopping experience, you’ll see the option to select your TRADING COMBINE package right in your shopping cart. And while there’s no conventional promo code or coupon code to input at checkout, the 60% discount link is the key to unlock these exclusive discounts.

Click here for my full review of TopStep.

Trading Combine and Performance Coaching

Let’s dig a little deeper into what makes TopStepTrader stand out. The TRADING COMBINE is an evaluation program that assesses your trading skill and strategy. Through this, the company seeks to identify those traders who can consistently profit from the market.

Furthermore, TopStepTrader offers performance coaching services where seasoned professionals help traders improve their strategies and attain consistency in their trading results.

The Topstep discount code applied through my link makes these services even more accessible and affordable. Click Here to learn more about how performance coaching with Topstep can bring you trading to the next level.

Can I Really Become Funded by Topstep?

The short answer is, absolutely yes! Topstep is in the business of finding talented traders and providing them with the capital to trade. I’ll cover some statistics to help you better understand the feasibility and success of becoming a funded trader with Topstep.

Since 2020, Topstep has paid out over $23,000,000 to their funded traders, a clear indication that it’s not only possible but also quite lucrative to become a funded trader with Topstep. This figure represents the payouts made to traders who have proved their skills, successfully managing the funds provided to them by Topstep.

TopStep has funded more than 19,000 accounts in a single month. To me, this impressive number showcases the extent to which Topstep supports and empowers talented traders, granting them the financial means to potentially succeed in the markets.

Earning a funded account is a streamlined process and can be achieved in a short time.Traders can earn a trading account in as little as 2 days, which is one of the shortest times offered by all the best instant funding prop firms I have reviewed. This accelerated time frame reflects Topstep’s commitment to giving deserving traders a platform where they can display their trading prowess.

Once you’ve made profits in your funded account and requested a withdrawal, the average payout processing time is merely 7 hours. Topstep’s quick payout turnaround ensures you have timely access to your earnings.

Having been in the business for over 10+ years, Topstep has a wealth of experience in evaluating traders’ skills and providing a platform where they can maximize their potential.

In conclusion, it’s very much possible to become a funded trader with Topstep. With determination, skill, and consistency, you can be among the traders who share in the millions of dollars that Topstep pays out each year.

However, as with all forms of trading, I recommend you understand the associated risks and always trade responsibly.

What Are the Main Benefits of Topstep?

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TopStep Discount Code

Update 08/23/2024: Due to personal experiences with TopStep, we strongly recommend you consider these prop firms instead:
Take Profit Trader – Save 50% with Coupon Code MODESTMONEY
Apex Trader Funding – Save 80% OFF Evals & One day Pass for a Limited Time with Coupon Code FXJEPTUV

TopStepTrader is a funded trader program that has been making waves in the futures trading space. It offers traders a unique opportunity to trade without risking their own capital, provided they successfully pass a series of stringent trading evaluations.

In this TopStepTrader review, we will delve into the core aspects of the platform, examining its distinctive features, pricing structure, and various ways to save on subscription costs through a discount code.

TopStepTrader’s model revolves around identifying and funding talented traders. The platform’s evaluation process is designed to test traders’ skills rigorously, ensuring that only the most proficient traders qualify for funded accounts. This system not only mitigates risk for the traders but also aligns with TopStepTrader’s goal of fostering a community of disciplined and successful traders.

In this article, we will cover everything you need to know about TopStepTrader. From the pricing options to the specific benefits of the platform, and how you can leverage discount codes to make the most of your subscription, this comprehensive guide will provide you with all the information needed to determine if TopStepTrader is the right choice for you.

Learn More About TopStep

What Is TopStepTrader?

TopStepTrader is a specialized funded trader program that serves the futures trading market. The primary objective of this platform is to offer traders the chance to trade in real-time market conditions without putting their own capital at risk. To achieve this, TopStepTrader requires participants to undergo a series of rigorous evaluations to demonstrate their trading acumen. Those who successfully pass these evaluations are given access to a funded trading account, where they can trade a variety of futures contracts.

The program offers compatibility with 14 different trading platforms, accommodating traders with different technical preferences and requirements. This diversity in platform support allows traders to continue using software they are already comfortable and experienced with, thereby reducing the learning curve and facilitating smoother transitions to funded trading.

One of the unique selling propositions of TopStepTrader is its educational element. Beyond just funding, the platform aims to enhance the trading skills of its participants. This is evident in the simulated account phase that traders enter after passing the initial evaluations. This simulated environment serves as a practical educational tool where traders can refine their strategies and decision-making processes without financial risk

TopStep’s Features and Offerings

Trading Platforms

One of the standout aspects of TopStepTrader is its compatibility with a variety of trading platforms. The service supports as many as 14 different trading platforms, making it accessible and versatile for traders with diverse platform preferences.

This includes popular platforms like NinjaTrader, TradingView, and T4, allowing traders to utilize the tools they are most comfortable with. This flexibility ensures that traders can maintain their usual workflow and leverage familiar features, enhancing their trading efficiency and effectiveness.

Funded Account Options

TopStepTrader is renowned for its funded account options, providing traders with the capital needed to trade without risking their own money. The platform recently introduced a 1-Step program, simplifying the funding process.

This new offering allows traders to achieve funded status more quickly by passing a single evaluation phase, reducing the complexity and time involved in getting funded. This innovation is particularly beneficial for experienced traders who can demonstrate their skills and discipline in a shorter timeframe.

Pricing Structure

The pricing structure of TopStepTrader is directly linked to the type of funded account you aim for. Various packages are designed to suit traders with different needs and budget constraints.

For instance, smaller account sizes come with lower monthly fees, making it accessible for beginners, while larger accounts require higher fees but offer more substantial capital for trading. This tiered pricing ensures that traders can select a plan that aligns with their trading goals and financial capabilities.

Simulated Account

A noteworthy feature of TopStepTrader is its simulated account, which traders use after passing the initial evaluations. This simulated trading environment allows traders to further refine their strategies and practice risk management without the pressure of real money trading. It serves as a bridge between the evaluation stage and the live funded account, helping traders to transition smoothly and confidently.

This additional layer of preparation is crucial for developing the discipline and consistency needed for successful trading.

TopStep Trader Discount Code: Pricing

TopStepTrader offers a range of membership plans specifically designed for those who are trading on simulated accounts. Each membership tier comes with its own set of requirements and benefits. These plans are designed to help traders transition from simulation trading to a funded trader status:

$50k Buying Power Plan

• Cost: $49 per month
• Profit Target: $3,000 per evaluation step
• Maximum Contracts: 5
• Daily Loss Limit: $1,000
• Trailing Drawdown: $2,000

$100k Buying Power Plan

• Cost: $99 per month
• Profit Target: $6,000 per evaluation step
• Maximum Contracts: 10
• Daily Loss Limit: $2,000
• Trailing Drawdown: $3,000

$150k Buying Power Plan

• Cost: $149 per month
• Profit Target: $9,000 per evaluation step
• Maximum Contracts: 15
• Daily Loss Limit: $3,000
• Trailing Drawdown: $4,500

TopStep Trader Discount Code

There are currently no Topstep promo codes that can be applied during the subscription process. However, there are alternative ways to receive a discount on their services.

For instance, Modest Money provides a unique link that offers a 60% discount on TopStepTrader subscriptions. By using this link, prospective traders can avail themselves of a significant reduction in the overall cost, making the program more affordable. It is advisable to look for such opportunities if you are considering joining TopStepTrader to ensure you are getting the best possible deal. Please note that such offers are subject to terms and conditions, and it is essential to read the fine print to understand the scope of the discount.

This 60% discount through Modest Money offers a valuable opportunity for traders who are interested in the program but may be hesitant due to budget constraints. Utilizing this alternative to TopStepTrader coupons could make the decision to join TopStepTrader easier, allowing you to focus more on honing your trading skills without worrying about the initial financial commitment.

Pros and Cons of TopStepTrader

Pros

• Supports 14 different trading platforms
• Offers a variety of funded account options
• Introduced a simplified 1-Step program
• Pricing structures to suit different budgets
• Provides a simulated account for strategy refinement
• No risk to personal capital during evaluations

Cons

• Monthly fees can be high for larger accounts
• Strict evaluation criteria can be challenging
• Limited details available on the new 1-Step program

TopStepTrader Discount Code: Final Verdict

TopStepTrader is a comprehensive funded trader program that goes beyond just providing capital to traders. Its diverse platform support, various funding options, and the emphasis on educational content make it a valuable service for both novice and experienced traders.

However, the program may not be suitable for everyone. The stringent evaluations are geared toward filtering out unskilled traders, so if you’re new to trading, you might find it challenging to get funded.

If you are a trader looking to polish your skills while having the opportunity to trade without risking your own capital, TopStepTrader could be an excellent option for you. Although there is no TopStepTrader discount code, take advantage of this link and save 60% off on this opportunity to explore the world of trading.

Get Started With TopStep

The post TopStep Promo Code appeared first on Modest Money.

Recognizing this pattern enables traders to capitalize on bullish momentum, positioning themselves strategically for the next leg up.

Key Takeaways

• Bullish Continuation Signal: The Cup and Handle pattern is a widely recognized chart formation that signals potential bullish continuation, making it a valuable tool for traders looking to capitalize on upward momentum.
• Distinctive Structure: This pattern is characterized by a rounded “U” shape (the cup) followed by a smaller, downward-sloping handle. This structure reflects market psychology, where the cup represents a period of accumulation and the handle signifies short-term profit-taking before a bullish breakout.
• Market Sentiment Insight: The Cup and Handle pattern provides insights into market sentiment, with a well-formed pattern suggesting strong support and a higher likelihood of a successful breakout. Volume analysis is crucial, as increased volume during the breakout confirms the bullish trend.
• Strategic Trading Approach: Traders can use this pattern to identify entry points, manage risk with stop-loss settings, and set profit targets based on the pattern’s structure. Incorporating additional technical indicators, such as moving averages, RSI, and MACD, can enhance the accuracy of these strategies.
• Potential Drawbacks: While effective, the Cup and Handle pattern can be subjective and prone to false signals, especially for less experienced traders. It is also time-consuming to identify and may require a significant amount of historical data analysis. Proper risk management is essential to mitigate these challenges.

What is the Cup and Handle Pattern?

The Cup and Handle pattern is a widely recognized technical chart pattern that signals a potential bullish breakout in an asset’s price. First popularized by William J. O’Neil in 1988, this pattern is characterized by a distinctive “U” shape followed by a smaller, downward-sloping handle, resembling a cup with a handle.

Although William J. O’Neil popularized the Cup and Handle pattern in his book “How to Make Money in Stocks,” the concept existed well before he brought it into mainstream use.

The pattern begins with a downward movement in the asset’s price, followed by a gradual, rounded bottom that forms the “cup.” This decline is typically followed by a recovery where the price returns to levels near the initial drop.

After forming the cup, the price action then moves sideways or slightly downward, creating the “handle” part of the pattern. This handle often represents a brief period of consolidation before the price breaks out in an upward direction.

Structure and Market Psychology

Key Characteristics

The cup and handle pattern begins with a cup formation, a rounded U-shape that reflects a period of consolidation after a price decline. This cup typically has equal highs on both sides, forming resistance.

After the cup forms, the handle follows, representing a short period of consolidation with a downward or sideways slope. This handle generally does not drop below the midpoint of the cup’s height.

Market Psychology

The pattern’s shape reflects distinct phases of market sentiment. The cup mirrors a period of accumulation, where buyers gradually return after a decline, creating a rounded bottom. As the price approaches the cup’s resistance level, early sellers emerge, forming the handle through short-term profit-taking.

The pattern signals bullish sentiment when the price breaks out from the handle, as buyers regain control and push the price to new highs.

Identifying the Cup and Handle Pattern

To identify the cup and handle pattern, traders should focus on its defining features and evaluate the duration to gauge the pattern’s reliability. The pattern begins with a rounded U-shaped cup that shows gradual recovery after a downtrend, signifying consolidation.

Follow these steps to identify the cup and handle pattern:

1. Spot the Cup Shape: Look for a gradual, rounded U-shape that represents a consolidation phase and gradual increase before reaching resistance at the previous high.
2. Identify the Handle: After the cup, find a smaller consolidation that usually slopes downward and does not exceed half the height of the cup.
3. Analyze Duration: Ensure the pattern spans several weeks to months; shorter durations can signal weaker patterns prone to false breakouts.

These features are often found in bullish stocks recovering from pullbacks, cryptocurrency markets rebounding from corrections, or commodities bouncing back from dips. Recognizing these patterns can help traders anticipate market shifts and adjust their strategies accordingly.

What Does the Cup and Handle Pattern Tell Us?

The Cup and Handle pattern is a useful tool in technical analysis that hints at bullish market behavior. When you spot this pattern on a chart, it’s a sign that after a period of consolidation, the price is likely to continue climbing. It starts with a price dip that forms a rounded bottom, known as the “cup.”

As the price climbs back up toward its previous high, it often hits some selling pressure from traders who bought in earlier. This causes the price to drift down slightly, creating the “handle.”

The handle is an important part of the pattern and usually lasts anywhere from a few days to several weeks. During this time, the price consolidates, which often shakes out weaker traders before the price finally breaks out above the handle’s resistance level. When this breakout happens, it’s a strong bullish signal, suggesting the price is likely to keep moving up.

This pattern also gives insights into market sentiment and the strength of the trend. A well-formed Cup and Handle pattern, with a nicely rounded cup and a shallow handle, usually means there’s strong support behind the price and a good chance of a successful breakout.

Volume is another key factor—if volume is lower during the cup’s formation and picks up as the price breaks out above the handle, it’s a solid indicator that the bullish trend is legit.

In short, the Cup and Handle pattern is a visual clue that a stock might be gearing up for another upward move after a period of sideways action. It’s a pattern traders often look for as a potential buying opportunity, especially when the structure is solid and the volume supports the move.

Strategic Trading Approaches

Entry Points

A breakout entry strategy involves entering a position after the price breaks out above the handle with significant volume. This approach leverages the upward momentum to capture the price movement as the asset surpasses its previous highs. For traders seeking to anticipate the breakout, analyzing volume trends and momentum indicators can offer early signals of increasing buying pressure, allowing them to enter positions before the breakout.

Stop-Loss Settings

To protect against false breakouts, traders should set stop-losses below the lowest point of the handle. This ensures minimal loss if the price retraces below the handle, invalidating the pattern.

Profit Targets

Profit targets can be calculated by measuring the height of the cup, from the lowest point to the resistance level, and projecting this distance upwards from the breakout point. This projection provides a realistic target based on the pattern’s size, helping traders set expectations for the move.

These strategies provide a comprehensive approach to navigating the cup and handle pattern, enabling traders to capitalize on bullish breakouts effectively. Further sections will delve into complementary technical indicators and pattern comparisons, enhancing traders’ understanding of this chart formation.

Integrate Technical Indicators

Moving Averages

Incorporating technical indicators enhances the accuracy of trading strategies based on the cup and handle pattern. Moving averages (MAs) are a powerful tool for validating uptrends. When the price is above both the 50-day and 200-day moving averages, it supports the bullish nature of the pattern, reinforcing the probability of an upward breakout.

RSI

The Relative Strength Index (RSI) plays a crucial role in identifying overbought or oversold conditions that can predict breakouts or reversals. If the RSI is near 30 while the cup is forming, it indicates that the asset might be oversold, suggesting a potential upward reversal. Conversely, an RSI approaching 70 during the handle phase could hint at an overbought condition, signaling caution.

Learn More About RSI Divergence

MACD

MACD (Moving Average Convergence Divergence) is invaluable for tracking momentum shifts and crossovers. A bullish crossover, where the MACD line rises above the signal line, aligns well with a breakout from the handle, indicating increasing momentum.

Volume

Volume analysis is also essential, as increased volume during the breakout strengthens the pattern’s signal. If volume spikes during the handle breakout, it reflects strong market interest, confirming the pattern’s validity and enhancing the breakout’s credibility.

Pros & Cons of The Cup and Handle Pattern

Pros of the Cup and Handle Pattern

• Easy Identification: One of the biggest advantages of the Cup and Handle pattern is that it’s relatively easy to spot on charts, even for traders with varying levels of experience. Its distinctive shape makes it a popular choice for quickly identifying potential bullish trends on weekly or monthly charts.
• Risk Management: The pattern provides clear entry points, which helps traders manage risk effectively. By identifying a breakout above the resistance level, traders can place trades with defined stop-loss levels, reducing the likelihood of unnecessary losses.
• Long-Term Trend: The Cup and Handle pattern typically forms over an extended period, ranging from several weeks to months. This long formation time indicates a more stable, long-term trend, making it useful for traders looking for prolonged trading opportunities.
• Volume Confirmation: The Cup formation is often accompanied by significant changes in trading volume, offering additional confirmation of the pattern’s validity. This increased volume suggests growing interest from traders, which can signal a stronger potential for a bullish move.

Cons of the Cup and Handle Pattern

• Subjective Interpretation: The pattern’s identification can be subjective, leading to different interpretations among traders. This subjectivity can result in inconsistent results and confusion, as what one trader sees as a valid pattern, another might not.
• False Signals: The Cup and Handle pattern can sometimes generate false signals, causing traders to enter trades that don’t pan out as expected. The pattern’s subjectivity contributes to this issue, as differing interpretations can lead to misjudged entries.
• Experience Required: While the pattern is generally easy to spot, more complex variations require experience to identify accurately. Inexperienced traders might struggle to distinguish between a valid Cup and Handle pattern and other similar formations, leading to potential errors.
• Time-Consuming: Identifying a Cup and Handle pattern can be time-consuming, as it requires analyzing historical price data and charts. The pattern itself also takes a significant amount of time to form, often several weeks or months, which can be challenging for traders looking to act in real-time.

While the Cup and Handle pattern is a valuable tool for spotting potential buying opportunities, it’s important to be aware of its limitations. Implementing proper risk management strategies, such as using stop-loss orders and volume indicators, can help mitigate some of the risks associated with this pattern.

More Chart Patterns You Should Know

Understanding other chart patterns similar to the cup and handle helps differentiate its unique characteristics and implications.

Double Bottom Pattern

The double bottom pattern, resembling a W shape, has two roughly equal lows that suggest a bullish reversal. While the double bottom and cup and handle share bullish implications, the latter includes a consolidation handle before the breakout, offering a more refined entry point.

Learn More About The Double Bottom

Inverted Cup and Handle

The inverted cup and handle is the bearish counterpart, indicating a downward continuation. Its structure mirrors the cup and handle but in reverse, with an inverted cup followed by a consolidation handle before a downward breakout.

Learn More About The Inverted Cup and Handle

Ascending Triangle

The ascending triangle pattern features a flat upper resistance line and an upward-sloping support line, creating a pattern that hints at a bullish breakout. Unlike the cup and handle, the ascending triangle does not have a rounded recovery, instead showing consistent buying pressure that drives the price toward the upper resistance.

Learn More About The Ascending Triangle

Study our guide to master trading chart patterns to improve your overall awareness and trading strategy.

Trading Tools to Improve Your Technical Analysis

Advanced trading tools like TradingView and TrendSpider streamline the identification and analysis of the cup and handle pattern.

TradingView

TradingView offers advanced charting tools that make spotting the pattern easier. Traders can draw trendlines to outline the cup and handle structure accurately, while its alerts system notifies traders when significant price levels are breached.

Learn More About TradingView

TrendSpider

TrendSpider’s automated pattern recognition feature simplifies the identification process, allowing traders to detect cup and handle patterns without manually analyzing charts. Its backtesting capabilities enable traders to refine their strategies based on historical data, and the multi-timeframe analysis offers comprehensive insights into the pattern’s formation and potential implications.

Learn More About TrendSpider

Final Thoughts on the Cup and Handle Chart Pattern

The Cup and Handle pattern is a go-to tool for traders looking to spot bullish signals on a price chart, especially in the stock market. This pattern is pretty straightforward to identify and can lead to some profitable trades when used correctly. The key is to recognize when the pattern forms, especially during the consolidation period, where the handle formation sets up a great entry price for a potential upward trend.

As the stock price starts to rise after the handle, it often signals a price increase, making it a solid pattern for setting your price target. But remember, the success of this pattern isn’t just about spotting it—it’s about using it alongside other technical analysis tools, like trading volume indicators, to confirm that the price moves are legit.

For those looking to sharpen their trading skills, mastering this type of chart pattern can be a game-changer. It’s reliable, especially when you consider your risk tolerance and use tools like TradingView or TrendSpider to help with identifying the pattern and setting target prices. While it may take some trading experience to get it right, once you do, the Cup and Handle can be a valuable addition to your strategy in financial markets.

Using tools like TradingView and TrendSpider further simplifies the identification and analysis process, allowing traders to execute well-informed trades efficiently.

The post Master the Cup and Handle Chart Pattern appeared first on Modest Money.