Take Profit Trader: Reviews And Analysis
In-depth review of the Take Profit Trader prop firm.How to pass the challenge, payout, leverage, rules, comparison, coupon, discount, promocode, and free trial and repeat.
Take Profit Trader is a futures prop trading firm based in Orlando, Florida, USA, founded in 2022. The company offers a variety of trading instruments including equity futures, forex futures, agricultural futures, energy futures, interest rate futures, and metals futures. It provides traders with funding support for accounts up to $150,000, with a profit split of up to 90%.
Features
- Instruments: Equity Futures, Forex Futures, Agricultural Futures, Energy Futures, Interest Rate Futures, Metals Futures
- Max Account Balance: $150,000
- Profit Split: Up to 90%
- Cost: Starting from $150 per month
- Platforms: NinjaTrader, Tradovate, Rithmic R|Trader, TradingView, Quantower, Bookmap, Investor R/T, MotiveWave, Jigsaw Trader, MultiCharts, Trade Navigator, VolFix, Finamark, ATAS
Pros & Cons
Pros
- Fastest payment processing among prop firms.
- Only 5 days required to obtain a funded account.
- Pro+ accounts are real accounts with funds sent directly to the exchange, unlike simulated environments.
- Up to 90% profit split.
- Up to 3 funded trading accounts.
Cons
- Drawdown from funded accounts tracks open profits in real-time but stops tracking once it reaches the initial account balance.
- Only day trading is permitted.
Trading Rules
Depending on the account size, traders must meet different profit targets and maximum drawdown limits. The rules applicable to all accounts are as follows:
- Minimum Trading Days: 5 trading days
- Challenge Duration: No maximum limit, traders can schedule trading as per their convenience.
- Profit Target: 6%
Daily and End-of-Day Trailing Drawdown Limits:
| Starting Capital | Max Daily Loss | Max EOD Drawdown |
|---|---|---|
| $25,000 | $500 (2%) | $1,500 (6%) |
| $50,000 | $1,100 (2.2%) | $2,000 (4%) |
| $75,000 | $1,600 (2.1%) | $2,500 (3.3%) |
| $100,000 | $2,200 (2.2%) | $3,000 (3%) |
| $150,000 | $3,300 (2.2%) | $4,500 (3%) |
It's important to note that Take Profit Trader's evaluation process consists of a single step, unlike other firms which typically have two-step evaluation processes.
Automated Trading
Take Profit Trader does not allow the use of automated trading bots and prefers discretionary traders who can make independent trading decisions, ensuring flexibility and adaptability in trading.
Free Trial and Resets
While there is no free trial available, traders can avail a 50% discount using a specific link and code. Additionally, once traders pass the evaluation and receive funding, they can reset their funded accounts up to 3 times for free, providing additional flexibility and security.
Trading Hours
Traders must close all positions by the end of each trading day (before 5:00 PM ET). Holding positions over weekends is not allowed, with trading resuming by 6:00 PM ET. These rules ensure liquidity and effective risk management in day trading.
Trading during major news releases is prohibited. All positions must be closed 1 minute before important news releases, including FOMC, Non-Farm Payroll, and CPI.
Additionally, trading of oil futures during crude oil inventory releases and bond futures during bond auctions is restricted. Trading can resume 1 minute after news releases, ensuring stability and effective risk control.
Take Profit Trader is a reputable futures prop trading firm in the USA, offering funding support up to $150,000 with a profit split of up to 90%. Traders must pass evaluations tailored to different account sizes and can utilize various popular futures trading platforms like NinjaTrader.
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