The only thing that topstep want is selling combines! http://www.ripoffreport.com/r/TopSt...king-Funding-Finance-Chicago-Illinois-1157139
The problem is the $1,000 account has the same or higher probability of being profitable versus using tst. And by using tst they are just getting strung along buying into the dream that you can trade for a living with a 3 lot $1500 intraday trading account.
Suggesting to give a go to the 10 days combine is a very good advice. It will be interesting to find out how the experience will change the person's opinions. l
Lescor had excellent overall performance metrics and had a good run at Echotrade. One thing, however, you didn't mention was Lescor's EQUITY, and the fact that he had the ability to take huge draws and trade size. There is no comparison between Lescor and a funded trader with TST, until there's a funded trader with 100k of built up equity going "-$10k a couple times a month" and being "fine with that." Here are some samples of Lescor's posts, found within the first 10 pages (bold emphasis on the final word): "Most of my trading is done in a prop account that is starting the year at $110,000." "My main strategy, I hit -$10k a couple times a month and I'm fine with that. I start cursing at about -20k and at the very rare -30 or 40 I'm squirming in my seat." "I trade at a prop firm, my buying power is whatever I need. I frequently have $1M+ in use during the day" "...I don't have a predetermined risk and don't use stops. I try to give a trade time to work and will usually just take the pain and follow the plan unless something is obviously going on which I don't understand." "Bear in mind that 100k is not all my available capital. I sweep my profits out of my account now and then, but often keep a big chunk of that in cash if I don't have a use for it. I would never put 30% of all my capital at risk. If 100k was all the money I had, I would trade much smaller size than I do. I like to operate with a healthy cushion."
I disagree. If you compare two traders that have never traded futures, one at AMP vs. one at TST, the guy who has made $1,000 in the TST account has an equal or higher probability of being profitable, because of the discipline/edge/practice obtained by the trading combine. However, BOTH cannot trade for a living with 3 lots and only a $1,500 intraday trading account. Having only $1,000 or $1,500 is a "piker" account, and one has to beat the highest of all odds in order to take that $1,000 and turn it into a recurring income stream. Just as Lescor's thread proves, it requires EQUITY once the discipline is built. As smallStops posted, the 10k combine for under $100 is a good start, and then one can "build up" equity by continuing to practice with size until they eventually pass the higher combines. Then the odds improve of being profitable in the TST account.
That report was already addressed on this thread. Perhaps there were some technical glitches back in 2010. TST posted a response to that report. The allegation that TST would willfully engage in sabotaging a trader's results in order to make the trader fail a combine is patently absurd.
Everyone has different strategies. The recently funded trader made 10 grand in one day, after almost having a "blow up" the prior day. However, even if you pass the combine with multiple lots, if you exceed the lot size of the scale up rules (which he obviously did, making $921 per lot), then the average is skewed, and is not an accurate way to determine your EVC (expected value cushion). For passing the combine, yes, you can trade within the parameters offered by the combine, however that isn't true for the LTP and live account, given the extra rules. This is why I've been repeatedly saying the combine is just a way to train, ultimately you'll have to make a strategic game plan to build the cushion with the added rules in the live account. If they simply changed the rule to make the combine and LTP/live account the same, then you'd see more accurate metrics.
I don't even understand why they show these passed combines anymore. For anyone who can analyze trades, they are just not good PR. Here is the latest guy: https://www.topsteptrader.com/blog/...5b064b2617fe5bb2fe65a5746d274bc38c92decb9d381 The poor bastard from Switzerland has been trying since 2013 and finally it took him 18 days to make 1 lousy thousand bucks but the first 15 days of his combine was breakeven. And this is the guy who is supposed to generate profits for them??? I also disagree with anyone who thinks that it is good training. Let's use a sport analogy. If I give you certain times (rules) what you have to hit with your running that doesn't make you a better runner itself. Proper training and food and style will make you a better runner. Just the same, adhering to the combine rules won't make you a better trader if your strategy sucked to begin with... And the combine itself doesn't teach you a profitable strategy...
The combined gives a more realistic simulated trading environment because something is on the line yet there is no account to blow up. I was told it takes about two years to learn how to trade so fact dude was at it for two years is not unusual