Index Elite only allows you to trade ES and NQ. TST you can trade anything. TST is very precise on what you have to do to get funded. Index Elite is ambiguous. They basically tell you what they would "like" to see. Hmm... Index Elite offers no refunds. TST does. Index Elite appears to be trying to copy TST's model with more of a focus on education. Nothing wrong with that. But that is what they are selling. Commissions are higher on Index Elite vs TST. Basically, I have reviewed both sites forward and backward and TST spells out precisely what they are looking for to the tick. The other does not. I have no idea how many if any traders have been backed in Index Elite. TST sends out an e-mail notification of every new trader that is backed and their performance on the combine. TST has backed over 60 traders. Just my review for what it's worth.
Hi Maverick, I couldn't find the thread you mention through the search function on ET (searched for "Indexelite"... only this thread is shown as a result...). Did you mean another forum? Regards, k
You only get a $5k account with Index Elite, and you can only trade ES and NQ. And I'm not where you got the $350 from, here's what I got: 20 day 10 day 30k 250 190 50k 270 225 100k 475 300 150k 500 325
Please excuse the colonel. He doesn't have much knowledge in this area. There is no employment information because you don't work for TST. You are 1099 to the investor. This is how almost ALL backing works in this world.
karo, check back on the previous pages -mavrick overly likes tst, that's why he has more posts on this thread than every one else combined. He likes to pretend I have no knowledge even though I'm typing this in my penthouse that was paid for by trading. Maybe he works for them, but I don't know that. TopStepTrader does not provide information on employment. They do NOT mail checks like gift money, they hire you as an employer afterwards. My logic says they don't put this on their website because they want as many people to put deposits down. TST will charge you $350 for a two week demo account and a review. They say it's because they only want serious traders, but I think it's because TST is first and foremost a revenue operation. I believe this because Michael Patak previously did a website that was online gambling that took deposits and didn't refund the losers. Most traders will not be able to complete TST's high requirements for a two week day trading run, so you will probably lose your $350. Most importantly, $350 from TST only gives you a few thousand dollars of capital because they limit the number of contracts you can trade. They lie (yes I'm going to use that word) and say it's $150 k, but it's not-if you lose more than a couple thousand, they pull the plug on you. There is no way they have $150 k in real money put in your trading account. $350 is allot of money for new traders -they do not charge this to scare away trolls, because a $30 deposit is plenty to scare away the trolls. They do it to make money, and to support Hoagland's kid who got fired from Morgan Stanley. It is fairly easy for most people to find a few thousand dollars -this is what you would get at tst, and all it takes to become self sustaining. You should focus on day trading discretionary, because this will make you money starting in just a few weeks. Get Ninjatrader and practice in market replay. You will quickly understand what a positive risk to reward and 50% win rate means.
Are trying to get sued? If not, you are on first base pal. And btw, Baron will give up your IP in a lawsuit. Don't believe, PM him and ask him. How much slander can you load into one post? There is no employment contract. You do NOT work for them. TST is NOT even the backer. Why are you stupid that you can't understand this? Public schooling? And where are you getting this couple of thousand from? Who in the world can trade futures with 2k? You obviously have NEVER traded in your life because you have zero understanding of how futures markets even function. I'm questioning if you are even literate at this point because you say you read the website and I have yet to see you post one single accurate statement from their website. Not one! Hell you can't even get the combine costs correct. And if by limit the number of contracts you can trade, you mean they will let you trade 15 crude oil at 10k margin per pop, then yeah dude, it's really limited. What did you run away from the circus or something? This clown show is getting old. There are people here asking serious questions and all you are doing is demonstrating why it's important we don't get rid of medicaid in this country.
Hello Maverick, You seem to have "some knowledge" ;-) about the business... I was thinking about the equity partners backing the funded traders. These seem to be CME or CBOT members as the TST site states. Hence, I guess the margins behind the trades of the funded traders must be the margins of the CME/CBOT members, right? Do you know what the margin requirements of CME or CBOT members are, for instance, for the ES contract (overnight margin + day trading rate)? If they have day trading rates for the margin, from when to when are "days" calculated for electronic products? For instance, for ES from 5pm to 3.15pm the next day? Regards, k
The margin is kind of irrelevant since you more then likely are trading in a pool vs an individual account. They clearly state how many contracts you will be allowed to trade based on the combine you sign up for and if you go live, you get the same deal. Their trading day is defined by the pit hours when contracts roll over. In other words, when the electronic markets re-open after the settlement time. This is different for each contract.