1) For the edification of all here, please tell us about any non-compete documents you had to sign-off on with TST. 2) Do they prohibit you from opening new personal trading accounts after you are funded? Can you maintain existing accounts after being funded? 3) Have you gotten to the "80%" level yet? 4) Have you asked for and received "increased buying power" at all?
1 -I think it is a period of two years from sign off. Not positive. The copy is at home and I dont have access right now. Whats the difference anyway? Does anybody think that Citadel or Susquahanna are going to call me and say "hey we heard you trade ES directionally intraday, want to come on board with a 25mm line to swing?". 2 - That is a conversation that they are open to having...its not black or white. 3 - My account has not achieved that 80% payout level. I am under older rules and the thresholds are much higher. They offered me the new rules under which I could take money out, lower thesholds ..etc etc. But I declined. All I want to do is let it snowball for the time being. 4 - This is also a conversation they are open too for the right person. I have been told that if anytime I want to increase size or add additional products to just ask.
1) Cool 2) Okay 3) O-kee-doke 4) You can achieve that same account level at TST, probably with a better payout, than what those other two firms would do without having to reveal your system/method.
Actually if you look up the definition of a 1099 contractor by IRS definitions you technically do work for them and are not contract labor but that's a whole different can of worms. I don't want your numbers, I just wanted to know how many bsd were at tst and thank you for giving your honest answer. My apology if I came off as an a$$ in my post. So does your non compete entitled tst to a percentage of any profits that you make in any personal account that was funded before you signed it?
No one is moving anything. My point is that tst handcuffs you greatly with the current set up. With the payout and 1099 you give up 55% of any money to be able to trade a 3 lot with a $1500 max drawdown. Tell me what the incentive is to trade for them as an indentured servant ? The fact is no one is putting up any decent numbers because they are handicapped from the start.
My argument still is tst makes the majority of their money from combines and selling education and not from backing traders. Prove me wrong
I actually agree about the confidence. So why don't you back yourself and keep 100% with a lower tax rate ?
You seem to be arguing with ScalperJoe, not with me. I'm suggesting guys NOT take the funding. They should use TST as a training tool. And the 1099 issue, that's a pretty easy workaround. Back when I had a 1099 I set up an S-Corp and that mitigated most of the tax liability. I don't think TST handcuffs anyone, but I do agree that giving away 40% is stupid and said that about 400 pages ago. I guess with all the goal post moving you lost sight of that. And indentured servant? Man, your hyperbole is really funny. You should try working for a real trading firm if you want to see handcuffs. TST is nothing.