Introduction
In Glenn Heights, Texas, a 38-year-old tax consultant named Olamilekan A. has developed an approach to funded trading that reveals both the opportunities and challenges of funded trader programs. He’s managed to withdraw $7,500 across three OneUp Trader funded accounts, and we are going to see exactly how.
Unlike traders who focus on single large withdrawals, this six-year trading veteran has adopted a different strategy, making withdrawals as quickly as possible after meeting the withdrawal threshold, then simply starting new evaluations right away if the positions don’t work out. It’s an approach that raises interesting questions about funded trading psychology and risk management.
“Side hustle and extra income,” he explained in his question and answer to us. His mindset is interesting because he appears to put trading exactly where it belongs for him, on the side and not the forefront of his mind. This can be very useful in trading psychology because it can alleviate the large amounts of stress involved with financial markets.
Trading Performance Analysis
Here is a summary of Olamilekan’s stats:
- Win Rate: 78.38%
- Profit Factor: 1.78
- Average Risk-Reward Ratio: 0.48
- Average Profit per Trade: $19.89
- Largest Single Gain: $995.28
- Average Hold Time: 153.63 minutes (over 2.5 hours)
The high win rate and low risk-reward ratio would normally mean the trader is looking for a lot of small wins, but in this case, no. Olamilekan has an average holding time of 2.5 hours, which certainly is not scalping. The reason for this is that he trades micros, and because of the small tick size, positions can be left open for very long periods of time.
The Quick Withdrawal Strategy
Olamilekan focuses on reaching the withdrawal threshold quickly and pulling profits immediately rather than building large account balances over time. His track record shows three successful withdrawals, with the most recent completed in just 5 days of trading.
In his Q&A, he admitted that his greatest weakness is the “urge to always be in the market.” To counter this, he withdraws profits frequently, minimizing the temptation to overtrade with a larger account balance and safeguarding his gains from emotional decision-making.
To understand this, we should take a look at OenUp Traders’ Withdrawal policy:
- $25,000 accounts: $1,500 threshold
- $50,000 accounts: $2,500 threshold
- $100,000 accounts: $3,500 threshold
- $150,000 accounts: $5,000 threshold
- $250,000 accounts: $5,500 threshold
Once these thresholds are met, traders can withdraw profits above the threshold amount while keeping 90% of their profits (100% of the first $10,000 for 90% split accounts). Importantly, withdrawals are processed same-day, Monday through Friday, making quick profit possible.
For example, on a $100,000 account, reaching $6,500 in profits allows a $3,000 withdrawal (keeping the $3,500 threshold intact). The other aspect that really helps traders is the fact that the drawdown stops trailing when it reaches the initial starting balance. Most other firms let the drawdown trail past the initial starting balance, meaning traders can’t build up a big foundation because they always have to monitor their account balance.
OneUp Trader Experience
His experience with OneUp Trader has been overall positive. He is “very satisfied” with customer support and chose OneUp for practical reasons: “Low cost of challenges compared to other prop firms, online review and thereafter the great customer service.”
When comparing OneUp to other funded trader programs, he highlights common issues elsewhere, such as “Problem with payout request and arbitrary trading rules.” He has never experienced these issues with OneUp Trader.
OneUp Trader always puts itself in the shoes of the trader and tries to make their life as easy as possible. We know trading is not easy, but with the correct mindset, attitude, and understanding, it is possible to not only do well in the markets, but also learn more about yourself.
Lessons From This Funded Trader
Withdrawal Timing Matters: OneUp’s same-day withdrawal processing enables strategies that allow quick profit withdrawals and long-term account building.
Multiple Markets = Multiple Risks: Trading across currencies, indices, and commodities requires a deep understanding of each market’s characteristics and correlations.
Emotional Control is Critical: His admitted tendency toward overtrading and emotional decisions likely contributes to his account losses after withdrawals.
