If he's moderating a chat room then he cannot show a real time LIVE DOM as it would violate CFTC rules. The trades must be simulated. This is standard for chat rooms that have a moderator who isn't registered and shows his/her DOM. Maybe he would rather earn commission from subscriptions than obtain a backed account. It's his choice, as long as the customers recognize he's on SIM.
Here's a comment by "Rob B" from the comments section in the review, which injects a dose of reality regarding EQUITY in the account to sustain a draw: "I no nothing about Jason, but I do know about real world trading and I am sure some if not many will disagree with what I say here. But there is a reason 95% of traders lose money day trading. They trade in what I call the fantasy world. It would take an essay to explain. But in simplicity the fantasy world is where you have a $5,000 account, expect to make $250K a year using an arbitrary 10 tick stop loss, expect an 80% win rate and take home a paycheck of $1000 per day. They expect this picture perfect equity curve that just goes straight up or maybe has a small draw down. The fact is the reason most day traders lose money and blow their account is they are delusional. They do not even want to hear what real trading is like or even look at facts to what are reasonable returns a day trader can expect to make. Real trading is messy, very messy. You can easily get 30-40% draw downs, which means if you want to make $250K you better be prepared for a $100K draw down. And I can guaranty you the draw down occurs before the winning. Hard to do that on a $5K account. Churning and whipsaw is normal and yes big winning days are not every day occurrences. In Real World trading you might be down for 29 days then on day 30 make all your money for the month. Well I will get off my soap box as this it would take an essay to explain. But Jason churning or losing money for awhile says nothing about his ability to trade profitable. Again I know nothing about Jason or ever watched him trade."
@ScalperJoe I know the comments are not yours, but anyone that lets themselves get down $100K has serious issues with their trading. If you are down even $10k in the futures market i would stop immediately and re-evaluate what the hell is going on. Unless you are trading HUGE size it should never get that bad.
AKA Hamster wheel "TST's 10 day rule means even though he had potential, he would get "kicked back to the combine" much sooner, and thus trading a "funded" account is meaningless"
I agree, his example/comment regarding a "100k draw" was rather extreme. Although it's all relative to account size, a 100k draw on a 250k account is 40%. You stated correctly that "it should never get that bad." I think his point was simply that traders are "delusional" if they want to take a minimal equity $5k account and expect a consistent 1k payday on a 10 tick stop loss.
Yes, for that particular trader who showed six months worth of trading consistency, the live account had low odds to support his trading style, given the 10 day rule.
Someone posted this link on another thread. https://proptraders.biz/ Looks like TST now has a Russian competitor. They want $750 on their version of the 150k "combine" which is a bit absurd, considering they ALSO compute a 3% maximum trailing draw, BUT they want $15k profit, or a net 10% gain on equity to pass the thing, lol. Simple math reveals their daily draw is 1.66% on the smallest trial account and 2% on all others. The trail stop is 5% on the smallest account, and 3% on the largest (TST has 10% on the smallest and 3% on the largest). The common feature is the representation of equity (or simulated funds). $10,000 per lot traded seems to be the standard.
This is offtopic for this thread, so I don't want to dwell on it much, but he used to do it. Quote from Emmett's original review: "So, does Jason really trade? Yes. He clearly displays his trading DOM and his resting orders are there for everyone to witness." This was back in 2014. Last year he also showed a real 15K account for a few months. So the OTG in 2 years went from $300/month real account to $500/month sim account. So just to be clear, I am not criticizing him for using a sim, I am bothered by him driving newbies to the Combine "meat grinder". (his words) -------------------------------------------------- Now the real question is this: Why would TST be happy with "newbie, know nothing traders" whom Jason had to push through, passing the Combine and possibly getting backed with real money? The obvious answer is that nobody would want such traders unless they are after the combine fees only... Jason mentioned 10 traders who he helped through the Combine. Now we can debate what actually this help meant (copying trades or actual mentoring and doing it on their own), but the point here is that I want to know how many are actually getting a paycheck from TST, thus profitable with a live account. Now that would be a really good advertisement for Jason and his method, but of course we won't hear that stat... So my main criticism of Jason is that he is using the Combine as his measuring standard and PR material, when we already know that passing the Combine is just the first step and largely irrelevant for you becoming a profitable long time TST backed trader.