Don, after looking at some of these performance reports, I would back some of them. At least under the rules and restrictions TST is using. Of course this is cherry picking the winners. That guy that dropped 18k in one day I wouldn't go anywhere near. But that is what this combine is for. To answer your question seriously, yes, I would. There is something fascinating about this model to me. It's a market within a market. I started that other thread Mav's combine as a way to internally work through the math of how this would work. There are many challenges to it. But Don, if you are asking me if I had to choose between collecting commissions from guys or p&l, I would choose p&l. Commissions, in my humble opinion are going to zero. Where as p&l is asymmetric. The key is to price the risk accurately.
That doesn't qualify as dialogue Don. LOL. Look Don, I know you come here to ET to sell. But not all of us are selling something. Some of us actually like sharing intellectual dialogue with each other. Even if we can only get a few posts in before the trolls show up, sometimes it's valuable. That's all I'm saying.
Oh, sorry, was I supposed to offer more in the way of response? You know I can yak forever, LOL. I prefer "offering" vs. "selling" - like I know I could never "sell" you anything, you are the perfect "cynics' cynic" and I mean that in the good way. You've helped a lot of people here, and I like to think I have as well, without asking for anything in return. As far a you backing people in the topstep program or anything else, I was simply saying good luck, not challenging you or the firm, or even the trader for that matter. I have done my best for a long time to offer all the help and intellectual dialogue possible here, other boards, magazine etc. As you said, many on here have agenda's, and I may be oblivious to some of those agenda's at times, until it starts to appear personal. But, overall, I get about a 10 to one positive response in the long run if I were to guess.....as do you. I sincerely offered Mr. Patak a solid "good luck" with his venture as well. And, I've been listening to Top Step since near the beginning.... I have to admit, not lately, perhaps they stopped doing their email daily videos? Do you know? All the best my friend, Don
Don, I'm not backing anyone. I just wanted the dialogue. LOL. I just wanted to discuss the merits of a commission or fee based model vs a p&l model. LOL. Don, you must have been much more charming when you met your wife for the first time.
Hey, I'm damn friggin charming all the time, just ask JackDog, LOL. As a Broker dealer, there will be commissions, and overhead has to be paid, you know all that. I agree that commish has gotten to be so small, that if we factor in overhead, probably breaking even. Good traders simply don't want to share profits, new traders don't know for sure what they want. I'm an excellent blackjack player, with a decades long track record. Do you want to back me to go play in Monte Carlo? Probably not, and wouldn't take it anyway....no reason to give away my profits to a backer. My brother and I have discussed this many times over the years, as it pertains to trading. The regulators now ask if Firms have their traders do certain specific trading styles or techniques. We, of course say "no" -- we just teach "stuff" that has proven to work, and let the traders do what they find works for them. Another reason that other firms have been hassled, or soon will be, if they push specifics. This may be new since you left Vtrader. So, we do our best to show what "does" work, and let the traders make their own decisions. Not sure they could or would do that when a backer is involved. So many new regulations, and as a confirmed Libertarian (right), I'm sure you agree with the " too damn many reg's" crowd. About time for bed, not feeling well.,... Don
Damn your gun is jammed. Click... Click... Click... Sux. This is probably not the only problem you will have if and when you go live.