Live accounts die fast. By using Profit on Props you can look back at the trades that got you to live, know what worked and what did not, and carry that into live and cash accounts, not just evals and sim-funded.
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⚫Lucid brings back the cash out option for live. They also shared some live stats I found interesting. 👇
Lucid is moving 300 traders live each week for the last several months and tracking how those accounts do. The numbers they shared are not pretty.
🤦♂️50% of live accounts are blown in a single day
🤦♂️48% are blown on the very first day
🤦♂️32% have at least one profitable day but get no payout
🤦♂️18% get a payout
🤦♂️The average live account lasts about 3 days
So effective immediately, traders can request a payout equal to 50% of the live drawdown they would have been allocated on the move to live. An example scenario with calculations is below.
It's optional and nobody is being forced in either direction. Taking the live account or the cash out does not affect whether you return to sim or become a Maxxer. Lucid says they will likely look at other ways to improve the live experience, in both standard move to live and Maxx.
Their reasoning is that traders are not getting paid and the live risk being allocated is just getting lost in the market.