Yes, you're making a distinction between "actively funded" vs. "once funded", or in your third example, "twice funded." It's like Facebook claiming "1 billion user accounts." That of course doesn't mean they have 1 billion ACTIVE accounts, only that 1 billion users have registered for an account, with some having multiple accounts. Whether it's 100 or 200 or 400 funded, I don't think it matters. If you're talking numbers, then the key number is the amount of SENIOR TRADERS who are funded and are still ACTIVE, or in other words, "actively funded Senior Traders." Since it's only the Senior Traders who can take checks, the rest cannot.
From TST: " we are proud to say that TopstepTrader has funded over 400 traders in less than 4 years. With 76 traders funded in 2013 and 47 already funded in 2014," So last year's average was 1.5 funded trader per week, and this year's is slightly worse at 1.4 All these changes don't seem to improve their ability to find traders, but the year isn't over yet.... And they keep advertising the 2-3 funded traders per week mantra....
Finding talented traders is exceedingly difficult, even if you are paying big bucks and giving life changing opportunities its nearly impossible. I worked for a hedge fund that had tons of claimed profitable traders through the door--- some gleaned from this website-- all had verifiable profitable track records--- only 1 guy made the money for the fund and his edge was something that is non replicatable and relationship based (legal). I applaud Top Step Trader making this effort to help out those without money/ connections, perhaps from the third world, to get a chance to make it. It isn't easy. Surf
I got all information and can start trading live. I will start next week Monday. Patience, discipline, consistency and a bit of luck won't hurt!
Interesting. Since they had verifiable track records to start with, what do you think happened to cause them to lose profitability? Or is it impossible to say? I personally know of a guy who lost money to a "scam" money manager. Although in this case, when the guy was taken to court it was uncovered that he was a losing trader in his personal account before he started soliciting funds from others, so was never profitable to begin with!
It's not that they don't have the "ability to find traders." There is little margin for error in the combine if you take a draw. A Jr. Trader gets sent back to sim below the starting "zero" balance and if any rule is violated at anytime, and a Sr. Trader also cannot take a draw below the starting balance. You posted some of the results from the "$35 candy challenge" whereby some were making over 20k in a week, with a 150k account and 15 lots with no maximum draw. I'm not sure what the total draw was to make that amount at the end of a week, however they obviously were profitable traders, albeit on sim. The question is: could these same traders pass the 150k combine?
I was the one who told this clown that changing the rules, even in favor of the trader, would NOT help guys pass the combine. I've told this to him 100 times. It's NOT, I repeat, NOT, the rules that are the problem. As soon as you guys understand this, this thread will come to a close. Interesting 180 from Pekelo. Of course he does change his mind a lot.
CT, I read this thing by Russian guy in Russian. http://my-trade.livejournal.com/447365.html I actually read his following article somewhere else where he stated that either Michael or John contacted him and he got second chance due to not getting that news schedule or something. I tried but cannot find that follow up. Anyway, it was funny read. I also remembered this and after getting news schedule which is very large I asked Erika and John regarding news releases relevant to my trading. i trade only ZS hence I asked if only those news that are beans and generally grains related usually released at 12:00 EST are those news I should avoid and was told yes. Those rules must be read carefully. I will reread them once again on weekend before I start trading live.
By definition, intra-day trend following does not exist. At least not as trend following is usually defined. Day trading is the antithesis of trend following. Water and oil my friend, water and oil.