I sell nothing lets get that straight. Tst doesnt pay me anything. I dont bullshit. And I peddle my bike thats about it. That said... Tst offers the chance to earn a backer(albeit small,no argument there) if you pass the test the last i checked. They dont sell systems. They dont guarante anything unethical and I dont think ive ever seen one of those shilly "make 500 a day using our system"'vendor types present for them. And i dont think anybody has reported in this thread of them misrespresenting themselves or scamming. The performance metrics are high. But the combiner knows this. Its not a fine print issue. If you dont like the odds dont participate. Im officially done with this thread. Nothing further for me to add that is not regurgitated
I think the issue here is not whether TST is "fooling" anyone, or whether their rules are turning profitable traders unprofitable, but whether daytrading futures in lieu of traditional employment is a viable career choice at all. I can imagine Mike Patak thinking to himself something like: "Holy sh*t, if I knew it would be this hard to find consistent profitable futures daytraders......." I mean, there are lots of people on the internet who claim to make a living trading futures, and they have their followers, and along with all that comes the talk of "if only I had the capital to trade bigger I could quit my job" or "if only I had the capital to go full-time" or "if only I could find a prop firm to take an directional ES intraday trader, man I'd be rich" and so on....... Reading stuff like that all over the net can give the impression that futures daytrading is quite the burgeoning business. I wonder if the TST guys to some extent fell victim to all that talk, and as a result overestimated how much talent was actually out there?
just attended a webinar by mainstreetcompany.us, its business model is very similar to tst: - pay a deposit for training - if pass the trading test, will be given live capital to trade - deposit is refundable upon passing of test after some calculations of my own, i figured i'd be better off trading on demo/paper accounts in simulator mode, and then transitioning to a real account if I can pass those set of rules myself. Also, the deposit represents the amount I am willing to lose in my own trades.
TST $5 a rt using t4 ? Retail broker $4.20 per rt including $1 per rt for t4 CME member $2.36 plus $1 per rt for t4 fee so $3.36 Who is trading options at TST ? And WTF does that have to do with TST who offers only futures ? Same old irrelevant bullshit you just pull out of your ass
My post was not directed toward you or anyone who trades there. All i'm saying If the numbers were there you would see all the proof you need by them hyping the results. Instead you see nothing but secrecy and avoidance while claiming transparency. A long time it was posted that he would show the live traders result eoy on a thread and when that time came he back peddled. That was enough right there for me to question the validity of what is really going on. Where I come from if a man can't honor his word, then they are not the kind of individual I would ever align myself with.
Mark Twain once said, "you are entitled to your own opinions but not your own facts". The exchange fee for CL is 2.90, not 2.36. Most of the TST traders trade CL. Good night asshole.
Interesting. Seems like this company is more into training and topstep wants to recruit traders who can already get the job done. Or at least that is how each is promoting itself. As for the topstep 5 day challenge that is now being offered, that looks like fun, but that's not going to attract the type of disciplined, consistent traders that the company is supposedly looking for. It would basically draw in the kind of gunslingers who would never be able to pass the strict parameters of the combine and IMO, lends credence to those who believe their business plan revolves around selling combines. Hopefully, that's not the case. Anyone taking the challenge?
Still talking out of your ass and trying to defend your lies with a retail pricing ? CL rt excluding platform fee for a member is around $2.50 rt or less depending on volume. Add .50 a side for t4 and they are still pocketing $1.50 per rt in overrides. If they truly have 50 live traders doing minimal volume they are netting minimum 6-10k monthly just in overrides. Figures never lie and liars never figure
Don't ever start a business dude. Just trying to give you some good advice. For starters, Michael has stated several times they are NOT members and do NOT get member rates. Strike one. Second, they published their live traders identities a few weeks back. I think I counted 12, not 50. Strike two. Good thing you stopped there or you would have struck out...again. My guess is they are making 1k to 2k a month on over rides. My guess is their monthly payroll is 30k to 40k a month. Neato!
For the sake of "intense accounting analysis", what do you think TST receives when a funded trader takes a distribution, whether at the 60%, 70% or 80% level, as a source of revenue?