I finally passed the $30k TST combine i failed the first one because I hit the daily draw down of $500 which was still over my starting balance. I decided not to try again in December since its slow. Started back in January since they were changing their rules I wanted to lock in the free FTP. I traded mostly $NQ and $ES. Since FTP only allows 2 contracts that was my max position. The tip I got from the first combines coaching session was that it appeared that $200 was the lowest draw down that I was able to come back from so they suggested using that as a personal draw down limit which was very helpful even thought that was really common sense advice I had never done that analysis.
Not surprising I failed the FTP having to make basically 6x(2x 1500 if you dont go past 500/day) your risk is a huge barrier as i stated before in my topstep review. I'm sure if i try again i could pass this year but I would rather not waste more money the purpose for me really isnt to get funded rather better manage my risk without draining my real captial. Also it appears there is nothing stopping you from putting on more that the initial 2 contracts in the scaling plan. Ill probably use Oneup if possible to practice in the future. Part of my issue is that I hold for bigger targets there was several times like 1/25/18 where I was up 6 points but was holding for 10 to scale out and didnt move my stop and was stopped out on that crazy move down. I need to better read the environment when holding like that makes sense but who really knows when a market will do that. This is why i love options so much you dont get shaken out on a 1 point drop.
I looked at oneups rule again and it appears that they have the same 2x requirement before any money can be made(if the test was to be passed). So since I'm already in the FTP I thought it made sense to just do a reset instead of having to make another $3000 with oneup. I scheduled another coaching session which came with the fTP the first one actually helped so maybe this one can give me another incite to my trading.
Well my 4th reset in my step 2 i may pass it I have about a 160 buffer and 4 days left so obviously I’m only going to be making no more than $40 risk trades for 4 days. I changed my strategy from higher targets all the time to shorter targets. I’ve found that this small risk high reward doesn’t work in topstep because I don’t have the buffer I need. Before each trade only had a stop now I have a stop and a target So I’m risking more but winning a lot more. With my old low risk high reward strategy I found that even if I get a huge target when I keep trading I can lost more than half or all of it. I’ll update once I pass step 2 assuming no errors happen I should pass in 4 days. I’ve spent about $700 2x combines 4 resets so far
I passed step 2 signed the agreement form paid the data fee and updated my topstep profile. In about a week I should be trading live. as you can see from the daily report I will probably have an issue with the $500 daily limit this has gotten me out of 3 part 1s. But under the funded account you have a cut off where they will liquid for you so this should help in theory.
So with TST you now have to pay for the combine AND for the "old" FTP now called stage 2? Sounds like TST is going backwards instead of getting better. Anyway, good luck with the funded account!
Look at it this way, you are charged for your job interview AND your uniform (and for the coffee in the break room). Capitalism at its finest.
Wishing someone 'luck' in the market is kind of hilarious...I could never quite tell if it's authentic, or said in a condescending, sarcastic, dark, cynical... Jaded manner. But I'd love to see him report back here in the future, or near-future...saying he is now a SuperTrader , and Millionaire. I love unique Super Success stories. and not just simply beating the market index by a few measly % -- anyone can do that. ...but someone like you, Xela, would call that an "outlier" from a random scientific pool sample and not a realistic goal to strive for. it's smarter to just settle for average/safer modest ambitions. caacapital...Make Alot of caaa-a-a-aa-apital in 2018. Pekelo Bitcoin Trading Academy....where ya at, are you ringing in those memberships,
I think the prefatory "Well done, happy to hear it" prevents any potential ambiguity. "SuperTrader", in short order, having just passed the Combine, might perhaps be asking quite a bit, but I'd certainly be happy to see him make a success of his funded account like some friends of mine who got into trading this way and have now made successful careers out of it.