I Almost Lost $100K Account!
45sThe near-miss of losing a funded account creates tension and relatability for traders.
▶ Play ClipAI Summary
The video showcases a successful withdrawal of over $5,000 from a funded trading account with E8, a well-known prop firm. The creator highlights the strict consistency and dynamic drawdown rules that make such withdrawals challenging, emphasizing the importance of understanding payout processes. The account achieved a 67% win rate and an average risk-reward ratio of 3.63 in just three days of trading.
Chapters
[00:01]
Withdrawal Request
The creator requested a withdrawal of more than $5,000 from an E8 funding account, a single-stage account with strict consistency and dynamic drawdown rules.
[00:30]
Close Call with Daily Drawdown
The account was only $300 away from hitting the daily drawdown limit, but the creator managed to avoid it.
[00:43]
Minimum Payout Requirement
E8 requires a minimum payout of 1.5% of the account balance, which for a $100k account means a minimum withdrawal of $1,500.
[01:00]
Consistency Rules
The best day's profit cannot exceed 40% of total earnings, forcing the creator to make additional profits to stay compliant.
[01:12]
Meeting the Consistency Rule
After a day of $24,400 profit, the creator had to make over 6% more ($6,275) to keep the best day under 40% of total earnings.
[01:29]
Withdrawal Amount
The creator requested an 80% share of the $6,000 profit, totaling $5,000, which E8 will pay out in the coming days.
[01:44]
Account Statistics
The account boasts a 67% win rate and an average risk-reward ratio of 3.63, which the creator describes as 'absolutely crazy'.
[02:09]
Trading Duration
The account was opened on February 23rd and the withdrawal was requested on February 26th, meaning only 3 days of trading generated $5,000 in pure profit.
[02:23]
Warning About Mentors
The creator advises that if a mentor doesn't teach about withdrawals, payouts, or similar topics, they probably don't know how to trade, and you should avoid them.
The video demonstrates a successful funded trader withdrawal, highlighting the importance of understanding prop firm rules and consistency requirements. It also serves as a warning to seek mentors who teach practical aspects like payouts.
Mentioned in this Video
Study Flashcards (4)
What is the minimum payout requirement for a $100k E8 account?
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What is the minimum payout requirement for a $100k E8 account?
easy
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1.5% of the account balance, which is $1,500.
00:43
What is the consistency rule regarding the best day's profit?
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What is the consistency rule regarding the best day's profit?
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The best day's profit cannot exceed 40% of total earnings.
01:00
What was the win rate and average risk-reward ratio of the account?
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What was the win rate and average risk-reward ratio of the account?
easy
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Win rate was 67% and average RR was 3.63.
01:44
How many days did it take to generate $5,000 in profit?
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How many days did it take to generate $5,000 in profit?
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Three days, from February 23rd to February 26th.
02:09
💡 Key Takeaways
💡
Consistency Rule Explained
Provides a concrete example of how prop firm consistency rules work in practice.
01:00
📊
Impressive Account Stats
Demonstrates the level of performance required to succeed in funded trading.
01:44
⚖️
Warning About Mentors
Offers practical advice for traders to evaluate the credibility of mentors.
02:23Full Transcript
[00:01] statistics of an account that I just requested a withdrawal of more than $5,000 from. This funding account is from the company E8, a well-known company that has been around for quite some time, and in this case it
[00:16] is a single-stage account. What's peculiar about it is that consistency peculiar about it is that consistency and dynamic drawdown work against you because you basically need to have very high consistency to
[00:30] make a withdrawal on this account. As you can see here, the dynamic dragdown, the daily dragdown, I account, as you can see, I was
[00:43] just $300 away from losing it, but I didn't . They require a minimum payout of 1.5%, it's a 100k account, so to make a minimum withdrawal they basically require $1,500. But most importantly, they have some
[01:00] pretty strong consistency rules. For example, the best day to profit is 40% of the total earnings, because otherwise you start to get annoyed and you have to
[01:12] make more money so that this does n't happen. On this occasion, having n't happen. On this occasion, having had a day of $24,400, I had to make a profit of more than 6%, in this case $6,275
[01:29] which I finally made today. Today I did indeed ask him to withdraw. the withdrawal, which belongs to me, 80% of those $6,000. belongs to me, 80% of those $6,000. Therefore, $5,000 that they will give in the
[01:44] next few days. Here you are seeing the account statistics, a win account statistics, a win ratio of 67%, an absolute beast, and ratio of 67%, an absolute beast, and an average RR of 3.63. It's
[01:57] absolutely crazy too. And most importantly, as you can see here, I've only traded for 3 days. The account started on
[02:09] February 23rd. It's the 26th. So, in 3 days you've just made him 3 days you've just made him $5,000 in pure profit. And hey, let me tell you something. If your favorite mentor doesn't teach you these kinds of things, doesn't
[02:23] teach you about withdrawals, payouts, or anything like that, run away and don't look back because they probably don't know how to trade. Yeah.
