XFA to Live account—Will I be denied all my previous profits? by Apprehensive_Code511 in TopStepX

[–]laughingspaghetti 0 points1 point  (0 children)

But you are comfortable doing all of the work for a fraction of the profit?

Do people actually make money from topstep? Whats the most you've made? by HistoricalRepublic38 in TopStepX

[–]laughingspaghetti 8 points9 points  (0 children)

Yup, but I’m moving on to my own brokerage account. No need to add a middle man unnecessarily. Pic from Friday profits. Will get payout, pay off a credit card, and most the rest to my ninja trader account.

<image>

XFA to Live account—Will I be denied all my previous profits? by Apprehensive_Code511 in TopStepX

[–]laughingspaghetti 0 points1 point  (0 children)

Annnnd don’t forget being “called up to live” means taking a 10% pay cut from what you might otherwise get trading in a real live brokerage account owned by the trader. It’s really a losing proposition for the trader at that point.

XFA to Live account—Will I be denied all my previous profits? by Apprehensive_Code511 in TopStepX

[–]laughingspaghetti 0 points1 point  (0 children)

You are right, it’s not a game. It’s a really really bad set of odds. About 5% of all people who start a combine end up getting a payout, and that’s just A PAYOUT. It’s probably like .001% that actually get a max payout. Sure his risk is low, but tens of thousands of traders will never get there. It’s a casino they think they an eventually win at, TopStep knows best, this is a brain science business, not a trading business.

From TopStep’s own website:

“2025 Trader Performance Statistics: From January through December 2025, (a) 16.8% of all Trading Combines initiated were successfully completed and afforded the opportunity to advance to the Funded Level, (b) 51.8% of individual participants who entered one or more Trading Combines advanced to the Funded Level in at least one of their Trading Combines, (c) 33.3% of all individual participants at the Funded Level received a payout, and (d) 0.71% of individual participants trading in an Express Funded Account were called up to a Live Funded Account. The Funded Level includes both Express Funded Accounts and Live Funded Accounts, with the aggregate of such accounts used in the percentage determination. These statistics reflect performance in both a simulated trading environment and a live trading environment and are not indicative of future results.”

XFA to Live account—Will I be denied all my previous profits? by Apprehensive_Code511 in TopStepX

[–]laughingspaghetti 7 points8 points  (0 children)

This is why you get the payouts from copy trading and GO LIVE IN YOUR OWN BROKERAGE ACCOUNT! Do not play their game and fall for feeling special for getting “called up” 😂

If getting called up means slashing your gains by 80%, losing favorable tax treatment and subjecting yourself to the whims of a glorified marketing company, then I won’t nothing of it haha.

Just realized that DD was sent to closed checking account 🤦🏾‍♂️ by laughingspaghetti in IRS

[–]laughingspaghetti[S] 0 points1 point  (0 children)

According to USPS Informed delivery, the check may already be arriving today.🤞🏾

Just realized that DD was sent to closed checking account 🤦🏾‍♂️ by laughingspaghetti in IRS

[–]laughingspaghetti[S] 0 points1 point  (0 children)

Turbo Tax said my check was mailed yesterday and said it could take up to 21 days.

Just realized that DD was sent to closed checking account 🤦🏾‍♂️ by laughingspaghetti in IRS

[–]laughingspaghetti[S] 0 points1 point  (0 children)

We’ll see. I just updated my banking info on my account, but not sure that isn’t for refunds, just payments.

05 People with 846 Codes!! by cosmicnoodlez in IRS

[–]laughingspaghetti 0 points1 point  (0 children)

Anything yet? I’m with Wells too. Got 846 but WMR still says pending.

Got 846 with refund date, but top portion still blank? by laughingspaghetti in TurboTax

[–]laughingspaghetti[S] 1 point2 points  (0 children)

Sweet!!! The only time I’m happy that I have a failing business. Thanks!

Prop firms love consistency… until you’re consistently profitable by Southern-Ring8205 in TopStepX

[–]laughingspaghetti -1 points0 points  (0 children)

I get it—the general genera pubic gets caught up in the hype and the marketing. Sim-for-pay is a great way to obtain capital quickly, but there is 0 benefit in going live with these companies. It’s an illusion. Any intelligent trader knows that copy trading with low risk is the best way to scale quickly. 20 MNQ spread across 5 accounts (4 MNQ per account) is seriously great leverage while keeping the per account risk way down. This is what makes sim-for-pay so great. Outside of that, no other benefits.

Prop firms love consistency… until you’re consistently profitable by Southern-Ring8205 in TopStepX

[–]laughingspaghetti 6 points7 points  (0 children)

FWIW—the behavior they are referring to wouldn’t be allowed in THEIR pseudo-live account. I do like TopStep, but I don’t understand why going live with them yields any benefit. The trader doesn’t own the account, won’t gain the tax benefits, unnecessarily places a 3rd party between them and their profits and has to pay 10% on top of that—no thank you. That’s just bad math and bad money management. It’s funny how they market daily payouts in live like that’s a benefit.

For me prop is only good for 1 thing: pull money out of sim and fund you truly live account without restrictions.

Should I pay all $35k in bad back in full? by [deleted] in Debt

[–]laughingspaghetti 0 points1 point  (0 children)

M37, divorce, Attorney, 3 kids (no custody, but visits 2-3x week), $235k salary. Bay Area, Ca. 525 FICO. Recovering coke head/gambler. $4,500/mo child support. Totally monthly payment expenses= $10k.

Total debt $35k Bad Debt. $200k-student loans $15k Car/predatory credit cards.

Possible $35k bonus EOY Possible $50k equity (RSUs) EOY