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TopstepTrader

  1. Post all your questions and comments about TopstepTrader here and get answered by a TopstepTrader Team Member.
     
  2. I am proud to say I just passed the 150k combine for TST.
     
  3. Hi Tray,
    Congratulations on passing your Trading Combine. Hope to hear about your progress in the next steps.

    Thanks and Trade Well!
     
  4. I don't have tried TopstepTraders free 2 week trial because:
    1. My swing trading strategy is not for day trading.
    2. The monthly fee is a barrier for "startup" traders to entry.
     
  5. 1. Is TopStepTrader/Combine open to automated trading systems, or is it just for the discretionary traders?

    2. I keep hearing about the "2 week trial". I assume this refers to the "trial period" during which a trader must prove his/her "worth". That seems like a very short period of time. My system may not have had any trades at all during a given 2-week period.

    3. In lieu of a "combine", would you instead consider a longer-term, audited/verified account trading record, available on, say, fundseeder.com?
     
  6. Hi Mr. Topstep. Are you able to help when it comes to become a member or leasing a seat on CME/CBOT?

    I mean once the trader receives a funded account and is able to scale up to 20 - 50 cars/click, a seat might make sense to get those exchange fees down...
     

  7. No - it isn't that, at all.

    The trial period during which a trader must prove their "worth" is called a Combine, and follows the free 2-week trial (for those who choose to do a Combine, that is).

    The free trial is just to familiarise yourself with the platform, and so on. The demo trading you do for practice during the 2-week trial won't be looked at or assessed by TST at all.



    It may be that your trading system isn't suitable for TST funding. Although there's no compulsion to trade on any days you don't want to, it's perhaps going to work out expensive paying the monthly fee for a Combine if you can go 2 weeks without a trade arising? (Also, if you're holding positions, you'd want to be aware that TST trades can't be held "overnight" - though "overnight" has a technical meaning relating to CME closing for an hour and a bit, each day.)

    (Your other question is clearly only for TST to answer.)
     
  8. You shouldn't need help. The CME maintains a market for seats for sale or lease.
     

  9. well...leasing or purchasing seats is not like you going to wallmart for two cans of pabst blue ribbon. You have to post 2k non refundable and then your application gets reviewed. And if they like your face you have 30 days to buy or lease.

    Much easier to lease from a clearer who already has established relationships, especially when you're not an US citizen...but thanks for your comment anyways
     
  10. Hi Nonlinear5,
    Thank you for reaching out to learn more about TopstepTrader! To answer your few questions:

    1.) When you are in the Trading Combine you may use automated systems or strategies.
    2.) Like @Xela said above the Free 14-day Trial is a great way to get comfortable with your platform, and TopstepTrader.
    3.) We do require that all traders pass the Trading Combine to earn a Funded Account, as we do need to evaluate all of our traders in today's market state.
     
  11. There are 92.3% (so far) don't have tried your free 2 week trial. What do you think and do you have a plan to change your rules to swing trading combine?

    I notice that MES Capital Group will change their rules next month too :thumbsup:
     
  12. Are you still working as TopstepTrader Team Member?
     
  13. Hi @Street Trader,

    We offer our Free 14-day Trial as a great way for traders to get comfortable with their platform, and TopstepTrader, before starting in the evaluation process. We appreciate your interest in this portion of our offering!

    We are currently putting the final touches on some of our program changes that we are very excited to share shortly. So please, stay tuned!
     
  14. Do you have a plan to change your rules to swing trading combine?

    Thank you
     
  15. @Street Trader at this time all positions still need to be flat by the close in the Trading Combine. Thank you for your feedback we may cater to swing traders in the future.

    I recommend checking out our blog at http://blog.topsteptrader.com/ to learn more about the two rules that were eliminated.

    Thanks and Trade Well!
     
  16. We wanted our community to know about these exciting changes! Let us know your feedback and questions.

    New Year, New Opportunities
    Effective Thursday, January 12, 2017, the following rules are no longer required in Funded Trader Preparation™ and Funded Accounts™:

    1. Only trade the Trading Combine/Funded Trader Preparation products you were profitable in
    2. Maintain an Account Balance greater than $0 after a minimum of 10 trading days
    Over the years, these rules have allowed many traders to fine-tune their strategies while building their accounts and, although we are providing more autonomy in accounts, we encourage traders to continue to set their own individual guidelines.

    However, as we grow, we want to open our parameters to grant us the ability to evaluate as many strategies as possible to further our mission of empowering anyone, anywhere. In order to allow this and still evaluate based on true performance, Funded Trader Preparation will now have the same profit targets as the Trading Combine.

    Will More Freedom Mean More Success in 2017?
     
  17. @TopstepTrader,

    Can you tell me why you don't allow swing traders and FX trading recently?

    Thank you
     
  18. @streettrader Thanks for reaching out and for your interest in TopstepTrader. We do not allow swing trading simply because of the risk and uncertainty of the market. As for Forex we are currently looking into all our options to make this a reality. Trade Well.
     
  19. Hm...so with all that hype about TST I had to check it out myself. here are a few comments (FWIW)

    First I do not quite understand your business model or rather the type of ideal trader you are looking for. I would think you'd love a guy who is profitable 4 out of 5 days per week scalping stuff like treasuries, crude, the minis, whatever. Like doing 10-50 trades per day with 5-50 cars per clip in the interest rates or 1-5 in more volatile stuff.

    Low variance, consistent income if he's good...let's call it propshop material.
    Those guys don't have huge swings in their equity curve like a guy who does 2 trades/day on average or blow up like swing traders caught in a limit move in the grains.

    But how do you want to attract those guys with the current infrastructure you provide??
    Your round turn costs are around 4-6$ so forget about shaving the 5yr for a tick or two, even the 10yr cant be traded on a short term basis.

    I once had a little fun with a T4 demo for a week and averaged 140 contracts/day trading a 5 lot clip in ZF/ZN/ZB/UB...500$ + in fees per day?? No thanks!

    So at least add commission tiers based on volume so scalpers have something to work with. Otherwise every profitable trader will run away using his track record to apply to real prop shops like ARB or Propex or shop for cheaper rates. Even at a 50/50 split he makes more if he trades at even 50cts round turn.

    Next problem is your platform choices. Of course you love that Ninjatrader affiliate deal, but the only really usable frontend for high volume traders is T4. Everything else is just not usable cause it's relying on that crappy rithmic feed or costs a fortune in licencing fees upfront. And when anyone wants to use T4, you top it up with 1$ per RT...great. What about offering CQG or the new TT platform, even if it costs a monthly base fee?


    So to be honest, I registered for your free trial just to check it you, but once I realised that I have to use NT I just gave up and wont look at TST again.


    TL;DR: if you want to make money with fees, keep it that way. If you want to make money from a couple of guys who consistently clear 6 figures a month and trade size, do something to attract them. Lower rates for higher volumes (even if you don't advertise them) and decent, stable platforms besides T4. In exchange I think even a 40/60 split with 60 to the trader would be acceptable.



    P.S.: Here's what I would do if I was interested in scalping futures. I'd buy the 50k combine and scalp my way up to the funded account, cash in the 5K and leave asap using your admittedly great reporting tools as a trackrecord to apply for a position at a propshop...and honestly, that's probably what SebastianXP from Germany did...when he did the math :)

    I know that sounds like a rant but really it isn't. TST is a great opportunity for everyone, especially in countries that have no trading culture or infrastructure, also for the small guy who has no PhD and no chance to weasel himself into a trading position abusing his ivy league pedigree.

    But on the other hand you need to make money too and from my understanding you ring the register by charging above average fees...and that's also ok if this is your business model.

    But IMO you are making the same mistake as 70% of all shops out there: 1 out of 100 gets a funded account, 1 out of 300 is probably keeping it and makes money, 1 out of 500 probably can make a small living from trading with you and 1 out of 1000 will make it big.

    Of course you cannot count on luck and wait untill the big swinging dick arrives, but if you are not even able to offer those guys a decent playground the chance that he's not coming to you is 100%
     
  20. Who said swing trading is riskier than scalping and longer time frame of the market is more uncertainty than shorter time? :D
     
  21. Well, its simple math. If you have an edge and you can turn it 50 times a day you are more likely to have a positive month than when you turn it 30 times a month.

    Its just the law of large numbers. There is a reason, why most Propshops focus on intraday trading or why HFTs trade 100k+ times per day. They dont necessarily post bigger numbers, but are far more consistent than a hedgefund for example.

    When you look at trading as a business, you feel much better when you know that the probability of a negative month is close to zero. You dont want to sit there and wonder if you can keep up the business because you havent made a dime the last two months and summer is coming

    If you have a job and swing trade as a side gig, it's different of course. But a propshop isn't looking for those people.
     
  22. @TopstepTrader,

    Who said swing trading is riskier than scalping and longer time frame of the market is more uncertainty than shorter time? :D
     
  23. Hard to argue with the truth
     
  24. Don't worry, they know about the failure rate first hand. I bet the 3 months survival rate of the funded traders is only 30% or less, and the 1 year is below 10%. That's why they need the constant flow of new meat.

    Philosophical question though: if they were generating like 30+ (or whatever is the current number) new funded traders per month, thus the whole process is a success, why do they need to tinker with it in every few months? You know, don't change a winning team and such...
     
  25. Street, you must have forgotten to take your pills, as mentioned in that thread you just quoted. In that thread, you intimated a competitor to TST. I posted the link to said company, which is the company you alluded to earlier on in that thread which you told us to Google. We found it. They compete directly with TST. So what are you saying to TST now in this thread?

    Are you trying to multi-thread? What are you, an Intel God-knows-how-old-Pentium-class processor?
     
  26. You read all my post on 2 thread than you'll know. There is nothing to do with competitor here.
     
  27. As you say sir.
     
  28. Hi guys, have a question.

    I tried the 50k combine, almost passed but tripped the trading outside allowed hours non intentionally, just did not know. Can i appeal?
    It's a shame because if not this may be my last try.
     
  29. Thx for the support nobody.

    Anyway, Topstep is cool with my first error so i can go on. Of course with a little penalty.
     
  30. How many traders made 100k or more in profits in 2016 ?
     

  31. I think you've rather misunderstood the service TST is offering, and who their target market is, Volente, to ask this question.

    (With absolutely no entry-barrier at all, and most of their traders being part-time, it would be astonishing indeed, if any funded account holders ever make $100k in a year. They wouldn't need TST, would they? There are details of nearly 500 successfully funded traders here, and plenty of funded account success stories here, if you want to read them ... but I suspect that isn't really what your question's about at all, is it?).
     
  32. What was the penalty
     
  33. This quote is from another thread, but I guess the numbers are from TST's website:

    1. I don't believe 1 out of 5 combiners get funded. It is probably 1 in 10, unless they count repeat combiners as 1.
    2. 50% failing funded is irrelevant without a timeframe. Maybe they meant 3 months. I bet the 1 year failure rate is 80-90%.
     

  34. The last time it was independently audited, it was 19%. But since then, there have now been two major sets of rule-changes which were both removals of restrictions, both making it easier to get funded, and aimed at increasing the Combine pass-rate.



    As ever, as in so many other threads, you're very, very quick to cast aspersions against TST, Pekelo, but you never have any evidence for them at all. It's just "I bet".

    Well, ok - bet away.

    But don't expect too many people to imagine that you might actually be right. :rolleyes:
     
  35. By whom?* But OK, let it be 19%, which is an exceptionally good result by the way. So if everything is working so good for TST, why do they need to change the rules? Aren't they happy with the 19% success rate? I would be... The reason why they need to change the rules is because the turn over rate is very high, it is just the nature of this business.
    But you do agree there is no point throwing out stats without time frames, right? Hey, I have made 10K. Who cares about such a pesky details if it was in one day or in one year?

    By the way, congrats, I took you off of my Ignore list, I will give you another chance.

    Oh and the reason why we don't take anything at face value with TST, because of Trump. :)
    Once you get caught lying, it is harder to believe you. Alternate facts and such...

    *You probably meant Emmett here, but he was paid in pizza, so his objectivity is highly suspect. I know I would kill for a good pizza. I am still waiting for the second part of his TST expose...
     

  36. You could ask them? The thread's here for questions (not unevidenced aspersions), and that strikes me as a perfectly reasonable one to ask?

    My own guess is that they wanted to try to increase the Combine pass-rate in ways which wouldn't significantly impact their risk management of backing its successful participants.

    That would make sense, wouldn't it, because it would increase the subsequent overall volume of their profit-share on successful participants?

    But their answer will be better informed than mine.

    I do know that they're very responsive to feedback from people, and have quite often incorporated people's suggestions into their terms (such as the recent abolition of the "10-day rule"). I think you probably know that, too, from their other, longer thread.



    On most subjects other than TST, I like your posts here (and quite often click to say so). So that suits me fine.

    I remember that in the other thread, you openly reminded yourself not to post any more on this subject, and it does seem that you have rather a bee in your bonnet (excuse the English idiom!) about TST.

    Some of your comments about them have been just factually incorrect, and others clearly very prejudiced. Again, I know that you know this, really.



    LOL, I'm afraid you may be right about that.

    And I don't even have a pizza smiley in stock.

    I offer you a pancake one instead (best I can do, at short notice) ... [​IMG]
     
  37. Those are the quoted stats, it's smart to stick with them as the basis, which provides a 91% failure rate (50% of 18%), that's better than the 99% retail failure rate but far from transparent.
     
  38. I kind of suspected that, that's why he was on my Ignore list. The biased and subjective defending of them was too obvious. :)

    But nice detective work nevertheless!
     
  39. I will treat you like the unofficial speaker for TST...

    If the survival rate of the Funded traders are rather low (as I suspect), that means the filtering process of the Combine isn't working very well. So they have to tighten the rules, not ease them. The idea would be that it is hard to become funded, but once you are there, you survive for a decent amount of time because you were correctly filtered.

    But of course if it is "rather easy" to get to the funded stage, they are going to get killed like flies in November. At this point they probably have 120-150 funded traders at any given time, personally I think that is too many, specially that most of them generates little money.

    If I were in the backing business I would rather have 1-2 dozens traders (much easier to monitor and deal with) trading dozens of contracts than hundreds of traders messing with 2-5 contracts. But that is just me...

    By the way I have been more interested in their business side than the trader's side, maybe that's why I keep coming back to the topic. Generally speaking their trader backing business model is a catch 22.... But if we throw in the combine fees....
     

  40. I have absolutely NO connection with TopStepTrader at all - not in the past (I've never even done a Combine), not in the present and not in the future (I'm not in their target demographic) ... and for the record, I've also previously made comments critical of TST in this forum.
     
  41. Strange forum, this ...

    I wasn't expecting to be accused of "being TopStepTrader", but, thinking about it, it does make a change from being accused of "being Al Brooks posting under another name", which I've also been accused of a couple of times just because I'm an enthusiast of his books and I say so openly.

    Strange place ...

    You can criticise and whine and moan and complain and defame people/services/companies as much as you like, here.

    But apparently you can't be an admirer of anything, or make enthusiastic comments, or even correct factual misinformation, without openly being accused of being a shill!

    Bizarre. Probably I'm just "in the wrong place" ... [​IMG]
     
  42. I hear you Zela, you are one of the few who try and help the newbies and engage in intelligent conversation about trading. But this place is knee deep in negativity and poor behavior. Hard to see the point of it sometimes.
     
  43. Actually it is my question.
    Why is it relevant that joe blow with drew $200 after paying tst $160 a month for months or years to do that ?
    Numbers are my life and in the end that's all that matters in trading. My point remains that all of these stories are pointless since they don't even produce a livable wage considering the amount of time and money these traders are spending with the company. After 7 years not one trader from there has put up numbers worth talking about. Why do you think this still remains true ?

    One of my biggest issues with tst is if you jump through all the hoops and build your account, they still keep you handcuffed with certain rules even when it is only your earned money at stake. I think this is the number one reason why so many burn out and fail and why ones that do make it live withdraw any earnings and still leave the program.
     

  44. I do take your point, but judging by the number of people you see in forums, and on their blogs, saying that for them the main benefit of using TST's service isn't actually the "attempt to get funded" component (which always surprises me, but it's undeniably so - I've seen many people in this very forum saying exactly that!), I suppose that is relevant? [​IMG]



    Same here. To be honest, I agree entirely (but my instincts - like anyone's - may be biased by my own personal experience and are not necessarily representative of those among the wider trading community).



    This I don't agree with at all, for two main reasons, both of which become very clear from reading the pages I linked to in my post above.

    First, many are not trying (in the short term) to "produce a livable wage" but to add to one they already have (i.e. they're part-timers trying to make a few hundred extra).

    Secondly, many are in countries in which what you or I probably spend on going out for one good dinner, where we live, is a pretty livable wage.

    TST publishes versions of its own blog in English and in Russian.



    Because of the customer demographics involved, I guess.



    Traders who are making a living do that for themselves, anyway. Long-term trading is all about risk-management. My own self-imposed "handcuffs", in the sense you're using the word, are far tighter than TST's. TST's wouldn't be relevant to me at all. I can't prove it, of course, but it's no stretch at all for me to imagine that that's also true of many/most of their successfully funded traders.

    And there's also the inescapable reality that anything that has no entry-barrier at all is bound to have rather a high fail-rate, isn't it?

    No disrespect intended, Volente, but I suspect that you're looking at TST solely from your own perspective and aren't really aware of all these points. Nobody's suggesting that it should necessarily be suitable for you (just as it isn't for me).
     
  45. I actually agree with Xela's post above and have pointed out the same months ago: TST is good for people in countries where the cost of living is much less than in the USA and/or opening a broker account is problematic. In most East European countries a single guy can live easily on 1K per month. Also, because of the time difference, they can have a regular job and still trade the US hours. Of course TST isn't going to get huge profit shares from them, but that is a valid use of TST.

    If you are a 14 year old in Russia/China, combine away!!! (By the way I wonder who is their youngest funded trader?)

    Edit: I have just looked up the average salary in Mexico, it is less than 13K per year. So Volente, you should be fine in Playa. :)
     
  46. And then Speedo quotes one year ago the complete opposite, you mean intelligent conversion by having the memory of a knat, that's not intelligent, that's IYI.

    https://www.elitetrader.com/et/threads/the-biggest-news-ever-to-hit-elitetrader.297330/#post-4234677

    The purpose of trading is incredibly simple, making money, income or capital. TST nor any other of the public prop firms are putting themselves out as mentors or academies. With a >90% failure rate, it is pyramiding is the greatest sense of the word.

    The moderators don't care, as below, so it comes down to people with ethics to restore a sense of balance.

    "If I were a betting person, I would say that one username is used from the home computer and the other one is used on that same person's mobile device, hence the radically different IPs. The problem is that I can't prove it."

    So here's an interesting side point, before I posted the Xela = TopStepTrader post, I ignored both of them, they should not be able to see that post, yet they know it's there. The next logical question, how many other usernames is TopStepTrader using. Let's go and take a look.

    So volente_00 has been calling out TST for a few years now, disagreements with VPhantom, WMorin was definitely a TST username, and a few others I can't be bothered to look in to because it's already very simple. Their scheme is pyramiding for fees hiding the failure rate, that flows in to their social media and marketing, as shown here. Everything works from the top down, garbage in garbage out. And the statement about cheaper cost of living is stupid, Eastern Europe average income is €500/mth in some countries, no sane person is going to spend $150/mth on combine with a >90% failure rate unless it's hidden from them.

    Here's the problem, I am one of the worlds experts in data exploration, never make me go and research something, I will unravel pyramids at lightening speed, to the point in one of the largest companies in the world where I found a completely obscured $50bn hole, oil reserves.

    Even the wording "Mike Patek, the company founder and owner had been a long time trader at the Chicago Board of Trade and the Chicago Mercantile Exchange", all worded to perfection to imply a floor trader for marketing but in reality just needing to trade CME futures from his desk. That is the world of implying to generate business, in law beyond reasonable doubt is enough, and that is exactly what we have here.

    There's some seriously questionable practices going on in these forums, various users have "insider access knowledge", you can just spend a few minutes filtering through the posts and all sorts of nasty stuff comes up cross referencing itself. Intelligent is helping the next generation grow like our inhouse, not pyramiding them to generate income for a public facing business due to so little transparency they're not told there's a 91% failure rate, and that is exactly the business process of TST. They are a pathetic excuse for a business.
     
  47. I hate to break it to you, but if you ignore someone, they still can see your posts and even comment on it. You can not see theirs, that is how it works.

    That is a pretty ignorant statement combined with faulty logic. A double whammy...

    First, obviously there are plenty of Russians combining (there is a Russian version of the website), thus unless you think they are all well to do Russians, your assumption of East Europeans not being able to afford the combine is wrong.

    Second, if they are smart, they did free practice runs first, thus they have a good idea if they are able to pass the combine or not. Thus the fee is simple an investment on their behalf, not to mention for years if you passed the combine you got the fee back. (so it was free for good traders)

    Don't believe me, go ahead and read the traders' profiles and you will see half of them are from low cost living countries...

    Third, and let's repeat it again, it makes complete sense, because even if the guy only makes only $2-300 a month, that is a huge help for the family budget. There, not here in the USA.

    A Ukrainian trader only needs to make $200/month to match their average salary. Bottom line is, it is worth the effort for foreigners, not so much for Americans....

    http://blogs.elenasmodels.com/en/salaries-and-costs-of-living-in-ukraine/

    Edit: I changed this last stats to Ukraine, because apparently they have quite a few funded traders from there.
     
  48. That's not how everyone has been explained ignore works, but there you go. On a 9% chance of success, it's smarter they put their $150 on a Roulette Corner bet. Risk management and probability distribution obviously isn't your forte.

    Anyway, back to the topic. The problem is with their, and similar companies, indirect business practices. Part of the checks and balances in the corporate world, a company needs to make sure that they have refund policies so that they can prove more than 50% of their revenue (realistically 70%-100%) comes from successful deployment of their service or product.

    When a company has the majority of their revenue from the losses of their subscribers it is very simple, it's illegal. Now, many of these companies are still trading because they fall in a grey area, they do not provide due process to participants for fair and reasonable transparency, however they are not accredited by any governance and do not have any professional industry liability, so are never directly picked up.

    This is a fascinating read http://www.trade2win.com/boards/trading-firms/176392-top-step-trader.html

    But this is the most insightful "I did reach out directly to TopStep Trader and attempted to curate this data. But what I was given can only be described as a highly skewed and colorful representation of statistical fiction. In short, it was crap." - https://www.tradingschools.org/reviews/topstep-trader-update-survey/

    A $1,145 fee for ~90% failure rate (given the quoted stat of 50% funded fail), but also that these aspiring traders lose 6months of their lives with no direct mentoring and no income in that time, but with TST generating $3.5mn in fees based on their websites current 52 funded traders per month stat.

    This is one such example, there are many others doing this. Richard Dennis and the Turtles had a 95% passthrough success rate (the professional approach), that has always been our reference point inhouse. It is just as well all the new regs are being released to put these companies out of business, it is long overdue.
     
  49. Wow, what a wall of text, none of it is addressing my explanation why they have so many funded traders from poorer countries. Anyhow, generally I agree with you, you don't have to convince me. But I also tend to be objective and give out lollipops when they are deserved. If TST can help a Russian guy to buy more groceries for his family, I applaud them.

    Also, here is how you mess with stats: TST's 5 year failure rate is 100%, since there is no trader who has been funded for 5 consecutive years. (If there was, my apologies and they should advertise the guy.) <<<< here I am just making a point again about reference time frames

    -----------------------------------

    Offtopic, by the way, but I found it funny on your profile page:

    "birzosDone here, the road to wealth is time management, not wasting time dealing with stupid people."

    That was back in November. You really thought you can leave ET? This time blackhole is more addictive than heroin. :)
     

  50. I agree with what you said about that, anyway.

    Clearly their target market is people with some trading skills and some genuine understanding of risk-management, but without enough capital to trade futures. And whereas there may be some fitting that description in the US, too, there are obviously quite a few in Eastern Europe, where average incomes in many countries are really low.

    People earning $300 or so per month aren't ever, realistically, going to be able to save up enough out of that to trade futures, however good their trading skills, are they?



    Well, please excuse my making (or repeating) one about slightly faulty information, then, but TST was offering funded traders only a 12-month deal, the last time I looked. Besides which, with the trader getting 80% and TST getting 20%, after one successful year, who's ever going to need them for a second year? So why would anyone ever have been funded for 5 consecutive years?? [​IMG]

    I'm not trying to have a go at you, at all. I'm "just saying" that plenty of people seem to criticise TST, explicitly or implicitly, for reasons that actually don't have much to do with what they're offering and how their deal works, at all.



    It's like the damn Hotel California ... [​IMG]
     
  51. 1. Supplementary income. Not everyone's goal is to make millions, after all some people are realist. If the trader is happy making some extra money, (specially if that little money means a lot in his country) why wouldn't he stick with TST for years?

    2. I am sure they can extend the contract. If both sides are happy, why would they not? TST never said "only for a year".
     

  52. Because he'd be giving up 20% of his profit unnecessarily.



    You're 'sure', but (please excuse my mentioning that it's also "like a few other things around this subject that you've been 'sure' about in the past"!) you're actually mistaken.

    They DID specifically say "only for a year": it was part of the agreement - at one time (I have no idea whether it still is). Again, nothing personal, Pekelo - I'm simply correcting factual misinformation, here.
     
  53. @Xela you remind me of nodoji...do you know her?
     

  54. I'm afraid not. I remember reading her posts (and "liking" quite a few of them), around the time I joined the forum, but I think my membership here didn't overlap with her posting for very long.

    After a while I didn't see her around the forum, and later I saw a comment from someone else to the effect that she hadn't posted for ages (which was apparently true: I just hadn't realised it).

    My impression is that she was/is mostly or entirely a price action trader (as I am)?

    I think she was in America, somewhere? I'm in England.
     
  55. Yes she liked beggs, volman, and brooks. Also didn't allow incoming PMs.
     

  56. Ah well, that explains why I remember liking her posts, probably. Together with some of Joe Ross's stuff, those were really my formative influences.



    I see ... that's curious. There was once someone (in another forum) whom I wanted to contact, with whom I seemed to agree about absolutely everything, but he didn't allow them, either: quite annoying!
     
  57. Are you saying they PREFER not to have the traders working for them for more than a year? That is different than having a contract for 1 year. I think you just mixing up the time limit of the contract and TST's wish.
     

  58. No, of course not: I'm saying that clearly nobody would have to, or want to anyway.



    TST's imputed "wish" has zero relevance, here, if you think about it - so I think you've missed the point. Sorry.
     
  59. I am getting really bored with this discussion...

    So you are saying plenty of people want to be a funded trader, but only up to 1 year. Perfectly makes sense, in a Xela way.... Anyhow, the conversations isn't fruitful....
     

  60. And likewise, to be honest.



    TST is "a way of getting started", for people with trading skills and without enough capital to trade futures on their own, without backing. That's all it is. It doesn't pretend to be more than that.

    I'm saying two things, and they're both really simple, and they're both factual ...

    1. It wouldn't make much/any sense for anyone who had been successful with a one-year funded TST account to continue for a second or subsequent years, because after one successful year they wouldn't need TST any more and wouldn't want to give up 20% of their profit unnecessarily, and ...

    2. The last time I looked, TST was offering funded account-holders only a one-year deal anyway.

    Honestly, Pekelo, I'm really struggling to see how either of these statements can be contentious(?!), or even how anyone even pretending to be reasonable or objective could actually disagree with either statement(?!).

    And those two things are all I'm saying, for heaven's sake!

    But I do agree with you that the discussion has become boring.

    I just wish you'd stop telling me that I'm saying things I'm not saying. That's not unreasonable, surely? [​IMG]

    (I really don't know what it is, with you, on this subject of TST. I generally like what you post elsewhere, and I like (and often share) your sense of humour, too. But about TST you have some kind of underlying belief-set that I just don't understand, and it results in your posting absolutely "loopy" things. Sorry - nothing personal at all. I'm not going to start asking you whether you did a Combine or had a funded account and ended up feeling you'd been unfairly treated, or whatever, because that's your business, but I really do wonder what has informed your belief-set about this one, specific subject, because to me - and to several others here - it seems borderline-delusional. [​IMG] )
     
  61. It seems to me that two of you are talking to each other to accumulate new pages.
    Birzos in his posts on page 5 had some legit issues brought up,but you two seem to high five each other and carry on.
    Disclaimer:I never had anything to do with Topsteptrader or contacted them for any reason.
     

  62. If that's another way of saying that the discussion's pretty boring, I can't really argue with it. I was hoping it had ended, after my previous post. :p
     
  63. I was hoping for your answer to Birzos posts on page 5,he states his opinion with numbers.It clicked to me that you went on two pages of long posts and no answer.
    Of course you don't have to answer,but please two of you unlike my earlier post on this thread.
    I did not come here to high five anybody.
     

  64. Sorry, Van der Vort, I hadn't realised you wanted me to comment on Birzos' numbers.

    I don't disagree with his "90% failure rate" number, in general - actually I think trading probably has a higher overall failure-rate than that. But the last time the Combine pass-rates were independently audited, the pass-rate was 19%, and they've increased since then. Regarding longer-term success rates of funded traders, I have no idea at all and neither does Birzos. It seems to me that some people in this thread, and in other threads about TST, sound very "sure" about matters on which there's no public-domain information at all.

    However, TST started off this thread in order to be able to answer questions, so I'd suggest asking them whatever you want to know?

    It's right there, in the first post on page 1: "Post all your questions and comments about TopstepTrader here and get answered by a TopstepTrader Team Member." :cool:

    Birzos also mentions that Eastern Europe average income is €500/mth in some countries, and I'd think he's probably right about that, but clearly the conclusion he implicitly draws from it (i.e. that people from Eastern Europe are not taking Combines) is totally mistaken: one only has to look at the names/locations on the lists of successfully funded traders to see that he's got that completely wrong, as Pekelo has also mentioned.

    Why Birzos refers to it as "pyramids", I have absolutely no idea at all. (My best guess would be that he doesn't really even begin to understand what "pyramid schemes" are, and is just totally misusing the word, at the same time as having very, very little understanding of TST's business model, pretty transparent though it is, but I'm only guessing that. Very clearly, though, he's posting with "the voice of prejudice", however you look at what he says. He even - apparently - believes that I'm "TST": it doesn't come much weirder than that!).

    I don't think I can help you any more than that. As I mentioned above, I have absolutely no connection with TST myself, no experience of doing a Combine, and I'm not even in their target demographic.

    My own interest in this subject comes simply from having personally known a couple of people, myself, who managed successfully to get started through TST at a time when they didn't have enough capital to trade futures safely on their own account. So my own perspective is that - albeit vicariously - I've seen TST's service working successfully for people. We all have our own perspectives (some based on facts and some on misinformation and misunderstandings, perhaps), but that's my perspective, anyway.



    That's ok ... if you didn't, you didn't. I'll just give you a friendly wave, instead, then ... [​IMG]
     
  65. Thank you that you replied.
     
  66. To name their try out a combine was an excellent choice, because:

     
  67. The fundamental question to all these so called "Prop firms" are (which I doubt will be answered in exact point t point ..)
    - What % of profits of the firm revenue comes from Trader's profits and what % from "Paid tests revenue" call them whatever you like
    - What % of people joining you are funded? and would you disclose that information upfront
    - Charging of "Test fees" "Training fees" means at least in initial stages people joining are trading their own capital with std Day trading leverage! are they not
    - IF a prop firm take even a cent from traders they need to be regulated the do they not "Test fees" is just another way to circumnavigate this.
    I have nothing to do with TST or any other firm. Just consumer questions...
     
  68. @TopstepTrader
    Why are you not willing to lower your commission rate and offer TT's platforms to attract traders whose style is scalping and for whom these are the factors that decide whether or not they are net profitable?
     
  69. Lukas, thanks for the question.

    The commissions are directly passed through from our broker partners. We work very hard with them to get them as low as possible in order to make users successful. We even recently introduced the TSTrader platform, which is commission free when traders get to a Funded Account. During the Trading Combine and Funded Trader Preparation, commission rates are standardized across platforms to evaluate each trader on an equal footing.

    Appreciate the suggestion about adding Trading Technologies' platform. We have had some discussions with TT in the past and will continue to evaluate interest across our user base.
     
  70. The most part of the all-in commission rate is the CME exchange fee. As a prop trading company you should have become a CME corporate equity member a long time ago and give your traders a real chance of success. Could you explain why this strategic decision has not been made by the company?

    Also, where on your website could I find more information on TSTrader? Commission-free trades should also be featured in the Trading Combine, I suggest. This (or rather $0.09 per side as it is based on Tradovate platform I believe) combined with reduced CME exchange fees could be a real game-changer for you and I can guarantee you I would sign up straight away, as well as many many other short-term traders
     
  71. Lukas - thanks for your suggestions! We certainly appreciate and consider all recommendations from our community. Since users can move between platforms, we decided to keep the standard commissions on TSTrader in the Trading Combine in order to evaluate traders under the same circumstances.

    For more information, on TSTrader, please visit our Help Center: https://help.topsteptrader.com/hc/en-us/categories/115001480688-TSTrader.

    Finally, we just wrote a blog post about how one short-term scalper recently moved into a funded account. Think you might find her story interesting: http://blog.topsteptrader.com/profitable-scalping.
     
  72. don't get me wrong as i'm just trying to understand.....
    i have to pay in order to allow you to earn from my work?

    so....i need to pay to get a job?
     
  73. Does topstep use the commissions that are used in the TST Trader app? 1.16 i think. Also during news events are you automatically closed if your in a position or if you are in a position during the evaluation during an event you are automatically not funded since you broke one of the criteria for funding?


     
  74. repeating my questions
    The fundamental question to all these so called "Prop firms" are
    First of all, are you a Prop firm or a Trader backer ( Maverick74 defination)
    - What % of profits of the firm revenue comes from Trader's profits and what % from "Paid tests revenue" call them whatever you like combine/ test / evaluation
    - What % of people joining you are funded? and would you disclose that information upfront
    - Charging of "Test fees" "Training fees" means at least in initial stages people joining are trading their own capital with std Day trading leverage! are they not
    - IF a prop firm take even a cent from traders they need to be regulated do they not? "Test fees" is just another way to circumnavigate this.
    I have nothing to do with TST or any other firm. Just consumer questions...
     
  75. Ok there is one thing I don`t get: Topsteptrader gives you an 150K account to trade with, but you`re only allowed to trade 15 contracts with a max drawdown of 4500 USD. If you want to trade 15 contracts of ES you only need 400 X 15 = 6000 daytrade margin plus the 4500 drawdown equals 10500 USD. So with 10500 dollars you can do the same as with the fictional 150K topsteptrader account. Even if you do the math with a higher day trade margin, you don´t get anywhere near the 150K. Much easier to do sim trading for free, cough up roughly 10K, trade your own money, shop for cheaper commissions and platform fees than TST are offering and keep 100 percent of your profits. (or do the math for their fictional 30K account: if you want to trade 3 lots with a max drawdown of 1500, open an account with AMP, 400 X 3 = 1200 margin plus 1500 max drawdown = 2700 USD
     
  76. I think everyone can agree that the if you have a $11-$25k account to trade you could do much more than what topstep/oneup is offering but I doubt you will learn as fast as you would if you passed a combine. I think these combines are good training tools for people that want to be day traders for much less money that doing it yourself. Think about it your learning to trade for a month the price of a typically losing day 2 years @ $500/month would be $12,000. Now how long do you think that would last a new trader? I think I'll do a separate topstep review as I've done one for Oneup.



     

  77. Hi ranger 64, thanks for your feedback. TopstepTrader was created to give traders a safe environment to learn, practice, and profit from the financial markets. As we all know, the market has a mind of its own. If someone deposits $10,500 in their own trading account, they are responsible for that whole amount - plus any losses that may happen otherwise if there was a large move. Putting up one's own capital is a big risk for some traders. We're here to help traders manage their risk and empower those on their journey to earning financial freedom.

    Trade well.
     
  78. That still doesn't answer why you are baiting people with a 30.000 USD account when it's actually only a 2700 USD account
     
  79. @ranger64 - Each brokerage can set their own day trading requirements, which vary by time of day and product. We don't base our account sizes off of any one brokerage. In fact, our intraday margins are thousands of dollars per contract, not $400. And we certainly wouldn't recommend traders trade 5 contracts with $2,700 in an account. Hope this helps answer your question!

    Best,
    TopstepTrader
     
  80. TST you should consider slowing the trailing stop and/or making the trailing stop count toward actual closed gains. This would make your program a little less like a hamster wheel. I like the program because I know what I want out of it. But based on the rules the perception is that you could care less about getting good traders. The trailing stop is a huge part of this
     
  81. Hello TST support,

    May I use an automated trading system (with NinjaTrader as my platform) for the Combine, FTP, and Funded phases to take trades in auto for me please?

    The system will be programmed to follow all the trading rules.

    Thanks,
     
  82. You are confusing OneUp with TST i think?
    If i remember correctly the trailing draw down with TST is calculated at the end of the day.
     
  83. Thanks for correcting me on that.

     
  84. Ok so could you please clarify in no uncertain terms
    Is your "Funding" notional or actual? becasue Futures have built in leverage
    SO it is very easy to advertise " We will fund you for $125,000 with E mini S&P" when we all know 1 ES contract only needs $5000 if held overnight... also why do you refuse to disclose what % do really get funded and when I say "Funded , that does not mean the money they themselves have paid you guys in "Monthly fees" so if one is a slow learner and takes 6 months to pas your "Combine" by that time they would have paid more than $500 which is what can be used to trade your own $125000 using day trading futures margins!
     
  85. @TopstepTrader How is the coaches combine going? No updates since december 7th.
    Looks like TST hopes everyone would forget about it.
     
  86. Did they try a show off and failed? :)

    That is similar to Tasty Trades' live trades, burning accounts on both ends...
     
  87. Yes, the last trade was on november 30th, they where 185$ from the max draw down and then just stopped, on december 7th they posted the coaches where still trading however there has been no more updates.
    They started trading september 5th.

    [​IMG]
     
  88. Thanks for update RDK91,

    If a trader hit drawdown, its not a bad thing. Perhaps when started trading the trading strategy does not meet current market conditions. I have experienced this a few times while trading in the combine.

    With a $2K drawdown choosing the time or market condition to start trading is a challenge. You have to think of long term, especially if trading systematic. Even discretionary trading.

    Also, don't forget the trader have to escape this drawdown of $2K three times. One in combine, another in FTP phase, and another when finally funded. So the smart thing to do don't worry about reaching the profit target, focus on trading a stratey of some sort that does not have a max drawdown of $2k.

    Also, keep in mind, the trailing drawdown stops once balance is up by $2k. So lets say, you make $4K, well now you have a $4k drawdown. I hope this makes sense.

    So if the coaches, have not pass the combine yet, its no big deal.

    Still working on this myself. :)
     
  89. I never said hitting a draw down is a bad thing, i am only saing the coaches are 185$ from their max draw down and then just stopped updating/trading.

    If they hit the limits they shouldn't hide it and maybe even start over, like most of their clients would.

    Nothing against the coaches but they are the ones who are training other traders, have 30 year experience, call you every day and want to know why you have a bad day.
    It would be nice to see some proof from those who call themself professionals.
    I have almost never seen trainers/coaches who are profitable themself and it looks like we have another example here.

    Ps, i perfectly understand the combine rules and how TST works. But thanks for explaining
     
  90. I agree with you fully RDK91,

    I agree, the coaches should definitely display their results to traders. This is a good thing for us traders to see. Which is experienced traders show their PnL daily or weekly.

    Can you show the original post or article from TST where they stated coaches would start trading the combine?

    Thanks
     
  91. http://blog.topsteptrader.com/performance-coach-challenge

    You can find updates in the same blog and they also posted results/trades on twitter.
     
  92. That is pretty funny. I almost feel sorry for them. All they had to do is keep going long.

    After 7 years they finally got the courage to show off and that backfired... This should be a lesson for other mentors not to try it. :)

    On the plus side, it took them 3 months to hit max. DD.
     
  93. Lmao hahahahaha you are too funny. That was funny.

    I'm curoius to see the results.
     
  94. Hey Mike
    Any traders netting 6 figures at tst yet ?
     
  95. I have no problem with the Coaches failing the Combine. At least they got a taste of what we go through. My problem with them is the TST Performance Coaching program, where these Coaches call you every time when you fail a Combine or FTP for a free coaching session, but if you go to dig in their website for fine prints -- coaching costs you big dollars if you sign up after the "free" session. If they are going to make money out of "coaching" us then they must prove their trading abilities are definitely above ours.
     
  96. Those 2 things are mutually exclusive. Unless we account for lasting almost 3 months when the average Joe blows it in 2-3 weeks. :)

    By the way I don't get it, was 1 account traded by 2-3 coaches? That is even worse than 1 coach blowing an account, because they could have traded only their best set ups...But we have to give them props for being honest.
     
  97. 2 coaches trading 1 account together.
    Lets see if they do an update or just ignore it.
     
  98. Thanks for reaching out! Yes, our Performance Coaches are still in the Trading Combine. With the holiday season and vacation time, Dan and Hoag went on a little hiatus. They didn't want to trade without the proper preparation and focus that we all know trading requires. You should hear an update from them early next week. Everyone is still getting back into the swing of things with the new year starting.

    The best way to follow their progress is on Twitter. You can follow us @TopstepTrader and search #CoachesCombine. Thanks for everyone's patience. Dan and Hoag are excited to get back into it!

    Happy New Year,

    TopstepTrader Team
     
  99. Would have been easy to cheat ... just set up the combine on a delayed feed. Surprised they never tried that. Hoag though I think is a pretty straight shooter with a good reputation. Ditto Eddie.

    Can't say that about everyone involved up the chain there.
     
  100. do you require legal documents from the members enrolled in your program? if yes what are they ?
     
  101. How many thousands per contract? Can you be more specific? for example ES?
    For the sake of transparency
    I think the question was about is your "account size" is notional or actual $?
    For example for 1 ES trading intraday with direct account with a Introductory broker the margin can be as low as $500 for day trading
    but with more conservative broker it could 3-4000 even for day trading 1 ES
    I asked this before also but conveniently TST rep does not answer!
    I mean any tom dick and harry can say I will fund you for $125000 by just having $500 with a introductory broker! forgetting to mention that it is 125K notional ( approx 1 ES, using futures contracts own leverage + broker leverage)