Last year, we introduced you to Karan, a funded trader who withdrew $17,500 from his funded trading account. This year, he is back with another big withdrawal while still trading his aggressive scalping style.
Since our last article, OneUp Trader announced that traders could now get funded on up to three accounts at a time, something the community had been asking us to introduce. Karan took advantage of this and got funded on two brand new accounts. He has withdrawn a total of $28,000 thus far and did that in only 12 days of trading, bringing his total withdrawals to an impressive $45,500!
Once Karan requested the withdrawal, the funding partner initiated it the same day with no questions asked. At other firms, it can be very difficult to make withdrawals because of the restrictions they put on traders like weekly and monthly limits. These hurdles do not exist at OneUp Trader because we want you to succeed! We believe if a trader has the skill to profit in the market, then he deserves to be rewarded, and that’s exactly why we have ZERO withdrawal restrictions.
Strategy & Trading Style
Karan continues to trade primarily at the open of the US market, with holding times for positions only around 5 minutes. This is a very aggressive scalping strategy that could really only be possible at OneUp Trader. Why? A strategy like this would be nearly impossible to succeed with on a personal account. Karan understands that if he doesn’t successfully complete the Evaluation, then he can try again, and even if he gets funded and loses the account, he can go back and try again with another Evaluation.
Basically, this means that his risk is limited to the amount he pays for the Evaluation instead of the entire account balance in a personal account. In a personal account, the risk is the total amount you have in the account, and sometimes more, depending on the broker and instrument you use!
Also, in order to take a position size of 25 contracts in NQ, you would need about $500,000 just to open the position! You can see how Karan is taking advantage of the unique offer OneUp Trader gives traders… By trading this way, Karan accepts the fact that he may not succeed in each funded account, but he is fine with that because he knows that as long as his system and discipline are in check, we will eventually succeed in one or, in this case, two accounts!
Trading Times & Total Trades
Across his two new funded accounts, Karan has executed 523 trades (including partial fills), 203 on one account and 320 on the other. If we look at his risk-reward ratio, the average is roughly 1. This means that Karan is not going for home runs; he is going for quick short winners, and the faster the market moves in his direction, the better. With a position size this big, there is almost no room for the market to run against him, either.
We also notice how he trades mostly around the opening of the US market, making use of the crazy volatility, especially in NQ futures. As a scalper, you need as much volatility as possible because that’s how you make your money. In a slow market, scalping is nowhere near as useful. The key, however, is to be sure you don’t get whipsawed out of your positions, as the market is still finding its feet before the bulls and bears fight for direction on the day.
Karan also managed a very impressive 2.26 profit factor. This means that for every $1.26 the strategy loses, it gains $2.26. Normally, a profit factor of 1.5 is deemed successful and profitable. Scalping can offer traders high-profitable periods like this, but it still requires caution because the market doesn’t always move the same, and no strategy works in all environments except for long-term investment strategies.
Karan took advantage of the period when his strategy was working optimally and is now reaping the rewards for that! We hope to see more traders do the exact same as we move into the final quarter of 2024.
Final Thought
As Karan continues to trade at OneUp Trader, we look forward to seeing what his next big withdrawal will be! His success is a powerful example of what can be achieved through dedication, skill, and the support of a funded trading program like OneUp Trader, which refuses to impose withdrawal restrictions on its traders!
Remember, OneUp Trader is on the side of the trader and we want to make your life easier. Use the OneUp Trader program to your advantage and don’t be afraid of adapting what you think you know about trading and the markets to get yourself that first withdrawal.
Good luck and best wishes from the OneUp Trader Team.
