Reflecting on the Pros and Cons: The Journey Isn’t Over Yet

September 5, 2024 / Reflecting on the Pros and Cons: The Journey Isn’t Over Yet

As I look back on this experience so far, I think it’s important to be honest about both the pros and cons of trading with prop firms like Topstep and Apex. This journey has been filled with learning moments, and while there have been clear advantages, there are also some real challenges to consider. What’s clear, though, is that this story is far from over. In fact, it’s just beginning.

Let’s start with the biggest update from Topstep. Recently, they removed the daily loss limit. At first glance, you might think this is a big advantage—it certainly gives traders more room to breathe without that constant worry about hitting a loss limit. But from my perspective, this change could actually make it harder for many traders to succeed. Why? Because the daily loss limit, as strict as it was, forced traders to develop and maintain discipline. Without that safety net, I believe more traders will struggle to manage their risk, leading to even fewer people passing the challenge.

This change in Topstep’s rules is a perfect example of how prop trading challenges really test a trader’s mental toughness. Discipline, in my experience, is the number one factor that separates successful traders from those who struggle. And while having more freedom might sound like a good thing, it could be a disadvantage for those who aren’t able to impose their own limits.

The Pros and Cons of My Journey So Far

One of the clear pros of trading with prop firms is the ability to access large amounts of capital without risking your own money. If you don’t have the funds to trade privately, prop firms give you a real opportunity to grow as a trader and potentially build up your own capital through payouts. Another benefit is the strict risk management rules, which force you to stay disciplined and protect your account. That’s something I’ve truly valued during this process.

But there are also cons. The pressure of working within firm-set rules, like the daily loss limit, trailing drawdown, and consistency rules, can create stress. These rules are designed to protect the prop firm, not necessarily the trader, and they can sometimes feel restrictive. And now, with the daily loss limit gone, traders who don’t have strong risk management skills might find themselves in trouble even faster.

The Journey with Apex: Still Gathering Insights / apex trader funding

As for Apex, I’m still in the process of evaluating my experience. I’ve completed some challenges but don’t yet have enough detailed insights to share a full review. What I can say is that their larger account sizes and flexibility are appealing, but I’ll have more to report on them soon. So, stay tuned—this timeline is far from complete, and I’ll continue to expand it as I gather more results and experience with Apex.

What’s Next? / apex trader funding

While I’ve reached some important milestones, this journey is definitely not over. There’s still a lot to learn, both about my trading strategies and how prop firms continue to evolve. I’ll be sharing more updates, especially as I dive deeper into my results with Apex and the ongoing changes with Topstep.

The removal of the daily loss limit is a big change, and I’m curious to see how it affects the prop trading landscape. Will traders be able to adapt, or will we see more accounts fail because of a lack of discipline? Only time will tell. One thing is for sure: this experiment isn’t finished, and there’s much more to explore.

To be continued!

Are you ready to take on a challenge with Apex or Topstep?

Now is your chance to get started! Whether you choose Apex or Topstep, both platforms offer a unique opportunity to prove yourself as a trader without risking your own capital. You can join the challenge here:

• Apex
• Topstep

Be sure to let me know how your journey goes—I’d love to hear about your progress!