Looking at their website it looks like TopStepTrader will be adding forex trading to the mix. I wonder if they will eventually add stocks? Anyone have any thoughts on this? Aren't there more successful stock daytraders than futures or forex? Any reason why they aren't using this model for stock daytrading as well?
Some genius said: "they are trying to make this combine easier and easier" Congratulation to the only person who was able to do the math correctly: The cumulative effect of dropping the 20 days and lowering the profit target is still INCREASING the daily profit target by 50%!!! This is when according to the email, the private backer is very satisfied with the performance of the backed traders. So why change on a winning team??? Anyhow, guys enjoy the $50 Memorial day discount while it last.... -------------------------------------------------- And as an endnote, you can be a very fine 100% annual return trader and still not be able to pass the combine. Combines aren't the end of it all...
Just to be fair and for the record, 20 days combines still exist, but you have to ask for it and get it customized for you: "We still have the 20 day option available to anyone. .... You would need to contact us to customize your Combine if you want a duration that is 20 days or longer. "
Today's ES range: 6.00 points = $300 per contract span Today's TF range: 12.00 index points low to high = $1,200 per contract span and then 9+ index points high to low = $900+ per contract span TF => 400% greater range than ES overall, and far more volatile ** If you see a no-brainer approach anywhere here, pleas feel free to go apply that yourself starting tomorrow
For the record, I believe TST is a solid company who offer a genuine opportunity for traders to prove themselves and be funded with capital backing. There is no disputing that fact, as it is proven by existing traders already funded. From what I've seen and experienced, TST is a well-run company with excellent customer service and top-level people who put a lot of thought into what they offer. It perplexes me why the combine and the junior-level funding requirements differ, because to me it seems so much simpler to make them synonymous. But those are their decisions to make. The company is making continual strides toward improving the process, that much has been evident all along. On a personal note I'd very much like to see the company in general succeed, I'd like to see individual traders who merit funding get funded. At this point in time I'm only interested in trading Russell futures, maybe that changes for me and for TST somewhere down the road and maybe not. For everyone else interested in whatever else, all the best to you. I'd like to see plenty of combine traders succeed and get funded... why not? Why wouldn't anyone like to see that? In any event, here's wishing success for the combine entrants now and in the future to come.
imo with VIX levels the way they are for everything including 6E and CL, it would make more sense to think along the lines of swing trading versus pure intraday. Take whatever trade signals your method confirms but if/when afternoon price turns fill, close / reopen those trades into the pit/globex and hold into next session. All these gap-open & flat range sessions offer potential to ride those gaps plus the intraday continuation. You won't catch them all, but you should catch some. Intraday ranges are tight, but holding two - three sessions can catch some distance. According to combine parameters, just need to be flat during the globex close and re-enter the trades when globex opens. Trading isn't limited to just intraday alone, especially so with volatility at multi-year lows right now.
Austin, don't you adjust your position size for the higher volatility? I don't understand why that would be your sole reason for preferring TF. Maybe you could argue that the patterns are cleaner (I don't know if they are), but there has to be some reason other than higher vol. I listen to most of Covel's podcasts, and in Nov2012 he spoke to Tom Basso. I think it was near the end of the interview when Basso spoke about the different ways he controls risk. One thing he does is look at vol as a percent of equity.