Ditto The guy delivers pizzas, plays a ukelele in hotel bars and is a documented failed paper trader.
Michael, I got my proposal approved yesterday afternoon, payed my 350.00 and got a message saying that I would get a follow up email with further details by 5pm CST last night. It is 9:45am EST and I have nothing. No email, no follow up from your team from the mail I sent this morning(@8:26EST) inquiring about my combine status. I also tried calling you guys in CHI @ around 8:15EST and 9:55EST but got all voicemails. Today was supposed to be Day 1 for me. Please have someone get back to me and either tell me where I can find the information I need on the site for download, user id and pass word. Or send it to me. "WorstTraderEVER"
This question is for Michael P. or any TST representative Does TST EVER take the other side of traders positions when funded ?
Question for Patak or TST_Hoag: Would TST allow for a custom combine whereby the trader can trade MORE than the 10 days within the 10 day combine (which gives 30 calendar days, and thus more actual trading days than 10), same for the 20 day combine (60 calendar days), while still meeting the performance criteria? This question is a result of a discussion from the other thread: QUOTE]Quote from Maverick74: Michael, I've got a suggestion for you and I'm curious what your thoughts are on this. I started a thread awhile back brainstorming how I would create a combine that would make sense for both the trader and the backer. I didn't really come to any solid conclusions on how best to do that that would be different from your model. But now I thought of something. I think the idea of a time period is counterproductive. Here is something I think makes more sense. You create a combine that has a p&l target. Let's say on a 50k account you set it at 15k. The catch is, there is no time limit in which to hit. A trader simply trades every day or when he wants and builds toward that 15k. It could take him a week, it could take him a year. Now, during this whole process he still has to hit the performance metrics. You still stop them out if they lose 1k in a day. And each week they get graded on whether or not they hit the metrics. What you would do is charge them per week for staying in the combine. They can quit anytime they want, but if they want to stay in and work towards that 15k goal, they would have to re-new their credit so to speak each week. They still would be eligible for the refund by hitting their metrics. So let's say you charged $50 a week. If they are net profitable for the week and don't get stopped out and met 2 of 3 criteria, they would not have to pay for the next week. If the following week they didn't meet it, they could choose to pay $50 to stay in or quit. Now, let's say someone was down a lot of money and wanted to reset their account. You could offer them the option to pay for the right to re-set their p&l back to zero, say $150. The idea here is that this would take away the incentive of having guys game the combine. Also, it would remove the pressure of having to come from behind in the 4th qtr with 2 minutes left and no timeouts. I think this would work well for you, as you can get a continual stream of fees every week. And for the trader, they can take their time and work towards that goal. By the time they hit 15k they will have put in a lot of time and built a lot of discipline along the way. You know they didn't get lucky and you get a chance to see them over a longer period. I think the trader would like this as well, because they can focus on the big picture and not try to game their p&l. I also think traders will build better habits by focusing on hitting their performance metrics each week vs hitting their p&l mark. I think it's a win win for both parties. [/QUOTE]
I checked with our support and they confirmed you are all set up and good to go. Let me know if you have any issues, if so Ill have a member of my team give you a call. Trade smart and always trade for tomorrow. Mp
[/QUOTE] Scalperjoe and maverick- this is something we have discussed in scout meetings. Both points are solid and would be better in the development of certain types of traders. I will look into seeing if this is something we could start approving for our CUSTOMIZED objective. For the elite traders out there would you like to see this type of review added to the Combine? Thanks, mp
If a trader maintains consistent performance with low to zero drawdown on a 150K Combine, but falls short of his profit target by say $3000 and ends up with $10 000 in profits, would you still consider funding him? Or would it be better if that trader applied for a customized Combine with a $10 000 profit target in advance? Is that something you would even entertain? I know that I personally would prefer to fund a consistent winner with low drawdown and a smooth equity curve, compared to a trader with wild P&L swings, even if he made slightly more money in the end. I think the Combine is realistic and achievable, but perhaps the profit targets are set slightly high on average and may cause traders to trade their P&Ls and not the market?
Laissez- the profit target is a line in the sand. We do not review those that are less than the amount that is standard for the Combine they are in or what they were approved for when they sent a Customized Objective. You may customize your objective as to avoid trading only for profit. If you do request a lower profit target we will most likely reply with a max drawdown and other metrics so we may see that you have proper trading mechanics and downside control but ultimately a trader needs to produce profits as well. http://www.topsteptrader.com/customevaluation mp