TopstepTrader Q & A

Discussion in 'Prop Firms' started by TopstepTrader, Jan 4, 2017.

  1. There are 92.3% (so far) don't have tried your free 2 week trial. What do you think and do you have a plan to change your rules to swing trading combine?

    I notice that MES Capital Group will change their rules next month too :thumbsup:
    #11     Jan 8, 2017
  2. Are you still working as TopstepTrader Team Member?
    #12     Jan 10, 2017
  3. TopstepTrader

    TopstepTrader ET Sponsor

    Hi @Street Trader,

    We offer our Free 14-day Trial as a great way for traders to get comfortable with their platform, and TopstepTrader, before starting in the evaluation process. We appreciate your interest in this portion of our offering!

    We are currently putting the final touches on some of our program changes that we are very excited to share shortly. So please, stay tuned!
    #13     Jan 10, 2017
    Xela and VPhantom like this.
  4. Do you have a plan to change your rules to swing trading combine?

    Thank you
    #14     Jan 10, 2017
  5. TopstepTrader

    TopstepTrader ET Sponsor

    @Street Trader at this time all positions still need to be flat by the close in the Trading Combine. Thank you for your feedback we may cater to swing traders in the future.

    I recommend checking out our blog at to learn more about the two rules that were eliminated.

    Thanks and Trade Well!
    #15     Jan 11, 2017
    Xela likes this.
  6. TopstepTrader

    TopstepTrader ET Sponsor

    We wanted our community to know about these exciting changes! Let us know your feedback and questions.

    New Year, New Opportunities
    Effective Thursday, January 12, 2017, the following rules are no longer required in Funded Trader Preparation™ and Funded Accounts™:

    1. Only trade the Trading Combine/Funded Trader Preparation products you were profitable in
    2. Maintain an Account Balance greater than $0 after a minimum of 10 trading days
    Over the years, these rules have allowed many traders to fine-tune their strategies while building their accounts and, although we are providing more autonomy in accounts, we encourage traders to continue to set their own individual guidelines.

    However, as we grow, we want to open our parameters to grant us the ability to evaluate as many strategies as possible to further our mission of empowering anyone, anywhere. In order to allow this and still evaluate based on true performance, Funded Trader Preparation will now have the same profit targets as the Trading Combine.

    Will More Freedom Mean More Success in 2017?
    #16     Jan 11, 2017
    VPhantom likes this.
  7. @TopstepTrader,

    Can you tell me why you don't allow swing traders and FX trading recently?

    Thank you
    #17     Jan 12, 2017
  8. TopstepTrader

    TopstepTrader ET Sponsor

    @streettrader Thanks for reaching out and for your interest in TopstepTrader. We do not allow swing trading simply because of the risk and uncertainty of the market. As for Forex we are currently looking into all our options to make this a reality. Trade Well.
    #18     Jan 12, 2017
  9. MrMuppet

    MrMuppet with all that hype about TST I had to check it out myself. here are a few comments (FWIW)

    First I do not quite understand your business model or rather the type of ideal trader you are looking for. I would think you'd love a guy who is profitable 4 out of 5 days per week scalping stuff like treasuries, crude, the minis, whatever. Like doing 10-50 trades per day with 5-50 cars per clip in the interest rates or 1-5 in more volatile stuff.

    Low variance, consistent income if he's good...let's call it propshop material.
    Those guys don't have huge swings in their equity curve like a guy who does 2 trades/day on average or blow up like swing traders caught in a limit move in the grains.

    But how do you want to attract those guys with the current infrastructure you provide??
    Your round turn costs are around 4-6$ so forget about shaving the 5yr for a tick or two, even the 10yr cant be traded on a short term basis.

    I once had a little fun with a T4 demo for a week and averaged 140 contracts/day trading a 5 lot clip in ZF/ZN/ZB/UB...500$ + in fees per day?? No thanks!

    So at least add commission tiers based on volume so scalpers have something to work with. Otherwise every profitable trader will run away using his track record to apply to real prop shops like ARB or Propex or shop for cheaper rates. Even at a 50/50 split he makes more if he trades at even 50cts round turn.

    Next problem is your platform choices. Of course you love that Ninjatrader affiliate deal, but the only really usable frontend for high volume traders is T4. Everything else is just not usable cause it's relying on that crappy rithmic feed or costs a fortune in licencing fees upfront. And when anyone wants to use T4, you top it up with 1$ per RT...great. What about offering CQG or the new TT platform, even if it costs a monthly base fee?

    So to be honest, I registered for your free trial just to check it you, but once I realised that I have to use NT I just gave up and wont look at TST again.

    TL;DR: if you want to make money with fees, keep it that way. If you want to make money from a couple of guys who consistently clear 6 figures a month and trade size, do something to attract them. Lower rates for higher volumes (even if you don't advertise them) and decent, stable platforms besides T4. In exchange I think even a 40/60 split with 60 to the trader would be acceptable.

    P.S.: Here's what I would do if I was interested in scalping futures. I'd buy the 50k combine and scalp my way up to the funded account, cash in the 5K and leave asap using your admittedly great reporting tools as a trackrecord to apply for a position at a propshop...and honestly, that's probably what SebastianXP from Germany did...when he did the math :)

    I know that sounds like a rant but really it isn't. TST is a great opportunity for everyone, especially in countries that have no trading culture or infrastructure, also for the small guy who has no PhD and no chance to weasel himself into a trading position abusing his ivy league pedigree.

    But on the other hand you need to make money too and from my understanding you ring the register by charging above average fees...and that's also ok if this is your business model.

    But IMO you are making the same mistake as 70% of all shops out there: 1 out of 100 gets a funded account, 1 out of 300 is probably keeping it and makes money, 1 out of 500 probably can make a small living from trading with you and 1 out of 1000 will make it big.

    Of course you cannot count on luck and wait untill the big swinging dick arrives, but if you are not even able to offer those guys a decent playground the chance that he's not coming to you is 100%
    Last edited: Jan 12, 2017
    #19     Jan 12, 2017
    loeki and Street Trader like this.
  10. Who said swing trading is riskier than scalping and longer time frame of the market is more uncertainty than shorter time? :D
    Last edited: Jan 12, 2017
    #20     Jan 12, 2017
    gkishot likes this.