The biggest news EVER to hit EliteTrader

Surf you have always said that in order for a trader to make big money trading he either has to be well capitalised or be backed by a prop firm.

Whats your opinion of these online firms which claim to back people after a short trial period ?

 

Love it. Its a great idea-- But it hits in the face of reality really fast. The pretenders on elite dont like it and have every excuse not to participate.

None of the TA folks or price action pretenders even stepped up to the plate with the simulated combine 3 years ago.

Why is this resurfacing just do a search on elite.

http://www.elitetrader.com/et/index...es-in-the-markets.276629/page-22#post-3846431

 

I am currently doing a demo for MES Capital.
http://www.mescapitalgroup.com/

This one is free, profit split is 50/50.

 

Read the negative reviews here: http://investimonials.com/websites/reviews-topsteptrader.aspx
Read an independent review here:http://www.jltrader.com/2015/01/29/get-funded-a-pitch-of-the-trading-dreams-factory/
only (naive) boys waste their time and $$$ on this kind of firms

 

Clickbait title, what's the news? Topstep Trader has been around for years.

Quite legitimate, but it's not very competitive price-wise. And what you actually are allowed to scale up to on a "$150K" combine is more in line with a $10K retail account.

The main purpose for it is to help people with zero discipline by enforcing strict rules.

With that said, one usually overlooked benefit is that unlike at a brokerage, you have zero responsibility for a negative balance if sh*t hits the fan (stuck in an illiquid position, black swan during a trade, etc.) That, to some, is worth bending over backwards to pass the combine and tolerate the high data fees.

 

Yeah all these morons like they never heard of them, and we had like 4-5 major threads about them over the years with a cumulative post count of 3500 or so. But obviously people don't know how to use the search function. Well, one of the bigger idiots started this thread, why am I surprised?

Now if someone just wants to hear the TL,DR: answer, well, I am too lazy to summarize it for them for free...

 

But that's actually a positive: you're merely highlighting that Topstep Trader is best suited for people who are still learning about the markets and self-discipline. For that purpose, it is much cheaper than going solo, blowing through accounts to learn the basics.

Beyond selling dreams to the naïve, there is a very legitimate use for this. I'd rather see a newbie flush $100-400 per month down combines than go through a $25K account within a year.

 

If you can get a high 6 figure or even a 1m trading account and make a modest return its much better than trying to get 1000% returns on $10k.

 

In nitro's defence (if not joking), he was doing this: