Testing 1,2,3.

Discussion in 'Prop Firms' started by CQNC, Aug 24, 2010.

  1. CQNC

    CQNC

    I don't disagree. SunGard dumped Assent and the market has adjusted. I think this is two dfferent discussions. Futures is not nearly as "easy" to learn as equity trading, one actually has to understand economics, whereas stocks are all bait and switch.

    I agree, the simulator idea is a dead end. Why bother.
     
    #41     Oct 25, 2010
  2. Maverick74

    Maverick74

    Don't tell that to cotton traders. Trading at 140 year highs. Coffee 14 year highs. Corn is on fire. Copper is unstoppable. Index futures are garbage. But commodities and stocks are in completely different worlds. BTW, cotton limit up today for the 4th time in 6 sessions. My advice to equity guys is get the f*ck out of equities. LOL.
     
    #42     Oct 25, 2010
  3. CQNC

    CQNC

    Pop.
     
    #43     Oct 25, 2010
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    CONC, Thank you for your information.

    Are there any other firms that are using the simulation as are the two that you have mentioned ie Patak and Pulsar? And would allow for ETFs as well ?

    Thank you


     
    #44     Oct 25, 2010
  5. CQNC

    CQNC


    Not that I'm aware of. The only site I know of that does simulated trading on a wide scale basis is kaching.com, which is some kind of investment advisory business model now.

    If I'd had time to waste on Patak, I would have tried it, but I didn't see past why they want a fee, or was given any information beyond the initial testing program. If it quacks like a duck...
     
    #45     Oct 26, 2010
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    Cheers CQNC

    I suppose you read this...

    http://www.zerohedge.com/article/gu...edium=feed&utm_campaign=Feed:+zerohedge/feed+(zero+hedge+-+on+a+long+enough+timeline,+the+survival+rate+for+everyone+drops+to+zero)

    Let's see....for those who prefer not to live in a money center...
    will not enjoy the viewing of ie Jump's art work....have fewer choices....etc...

    However...showing evidence of talent by live forward testing in the current and unfolding environment..which could be SP to 5000..or 20000....for those who are seeking above 0% st marks...perhaps makes more sense...especially in smaller amounts....

    Certainly not for the masses nor broad based....only a smaller niche market....

    Makes a lot of sense...both for the trader and sponsor....

    Those models that are commission/software sales/deposit dependent for their revenues ....their days are marked...and getting marked...ie Schoenfeld...Assent....Bear.... leaving....
     
    #46     Oct 26, 2010
  7. nbadger

    nbadger

    I have gone through three moths of this combine at topsteptrader and thought I would share my experiences.

    A little background:

    I am new to trading and this was literally my first experience. At the same time, I am good with math, charts, etc and have a finance degree. I also put in a lot of time reading materials and talking to other traders.

    My performance:

    First month: had no idea what I was doing, lost big

    Second month: started to get it a little bit, ended up a very small amount, but not near the 6,000's they say will get you hired

    Third month: passed the one week trial, so got the next 3 free. My small tutoring business got crazy, and had little time, so just traded the open (not my normal tactic). Roughly broke even.

    Is it a scam:

    My gut says no. First of all, they are only charging you $100 per month. They pay for a guy to run a sqwauk box all day just for topstep members. They also pay for a tech support chick. They also have a secretary chick.
    Considering there are only about 30 people in the sqwuak room (and you are basically told you have to be in the sqwuak), they simply cannot be making enough cash to pay them all.

    On the other hand, my first month there were only like 12 people in the sqwuak, so maybe they are taking a loss while building the business. But it seems unlikely to me.

    Pros and Cons:

    Pros:
    1. The obvious: they promise access to a prop company for no $$ if you make 6,000 (max loss 1,000; max position 10) AND show consistent profits (not objective, which scares me a bit).

    2. You also can start from a clean slate if you had a bad month.

    3. Also, the dude on the sqwuak is a cool guy, and he legitamitely tries to help you out. I've spent a couple hundred on this thing so far, but I can't be mad cause I learned quite a bit.

    Cons:
    1. Am I going to get to that goal, and then are they going to screw me scomehow? I think not, but maybe. If they do, I will glady plunk down $30 for a week trial and raise some hell in the chat room.

    2. If you don't hit that 6k, you lose. Then the dude gets mad at me for holding a position overnight. Umm, bro, I'm only up 1,300 with one day to go in my combine. I need a 4700 day. WTF you want me to do.

    Also, they are super steadfast about that goal; I get the feeling you could end the combine with 5,000 in profit and they wouldn't blink an eye at telling you to start at square one.

    3. No individualized support / training. Part of me just wants to take an offer from a respectable prop firm (even if I gotta plunk down a few g's for training / skin in game $) that will set me on a good course. This is obviously not an issue for pros.

    Whew that was longer than I thought. I just signed up for one more month. If it doesnt happen again, I'll prob be done with topstep unless I hear some legit success stories.
     
    #47     Oct 27, 2010
  8. CQNC

    CQNC

    Why spend 4 months on this if you've been largely unsuccessful and obviously don't have a lot of confidence in the outcome? Move on to something more substantial that has a realistically, and REAL defined end goal, and reward. This Combine ride is just chasing your tail.
     
    #48     Oct 27, 2010
  9. CQNC

    CQNC

    Economist's opinions and predictions are like assholes. Everyone's got one and they all stink.

    Show me an economist whose been right on predicting the future and I'll renounce Atheism.
     
    #49     Oct 27, 2010
  10. I know Mav wants new traders to have a PH.D in Quantum Mechanics from M.I.T. to get hired. But if how to do expect them to hire bright guys from normal schools? Have a aptitude test? Show sim results?
     
    #50     Oct 27, 2010