Trailing Drawdown at TST

Discussion in 'Prop Firms' started by canoe, Sep 4, 2019.

  1. canoe


    if that is the case, then how come Topsteptrader is able to offer a trailing DD that is based on realized equity?

    does Topsteptrader get preferential treatment by Rithmic?
    Ak7373 likes this.
  2. RDK91


    Topsteptrader calculates trailing draw down based on end of day balance, not on each individual trade.
  3. Earn2Trade-Ryan

    Earn2Trade-Ryan Sponsor

    I'm not sure how their backend works but it's likely based on daily exports from Rithmic rather than real-time information. That said, I believe their trailing is based on realtime information once funded but I may be wrong there.
    RDK91 likes this.
  4. RDK91


    I have checked their FAQ and you are right, during the combine the trailing drawdown is based on end of day balance, with the funded account it is based on open equity.
  5. canoe


    in the funded account (and the combine) with Topsteptrader, the trailing DD is not based on intraday peak equity like it is with the Gauntlet Mini and Oneuptrader.

    i will give an example:

    with Oneuptrader or Gauntlet Mini, if you are up $800 in a trade and then the position comes back to breakeven, your trailing DD will still go up by $800. it's as if you had a loss of $800 even though you lost nothing.

    whereas in Topsteptrader (both combine and funded account), if you are up $800 in a trade and then the position comes back to breakeven, your trailing DD will stay the same.

    the part in TST's faq about how the trailing DD is based on open equity in the Funded account is in the case of when your position is currently negative and it breaches the max trailing DD in real-time, after which you're failed out of the funded account.

    in the TST combine, your account equity can actually go below the max trailing DD as long as you end above it by EOD.

    anyways, any trading evaluation that is based on real-time intraday equity peak is pretty much setting yourself up for failure. you're forced to cut your winners short since every pullback is now going to be considered as if it's a loss from a drawdown perspective. this is how they get people to continuously pay for resets.

    only evaluations worth doing are TST, traderdock, and the original 2-month Gauntlet for this very reason.
    Ak7373 and MsFutures like this.
  6. Earn2Trade-Ryan

    Earn2Trade-Ryan Sponsor

    I just spoke to Rithmic and it's simply not possible currently to not trail only on closed equity.
  7. canoe


    what a shame. makes you wonder how TST does it though, huh? i wonder if Rithmic/TST has some kind of special relationship or privilege not available to any other funding companies, b/c they definitely get special treatment by the CME i believe.

    i remember reading this from SC support board:

    "Rithmic will always still be supported and for unknown reasons they can provide CME market data for those who do not have known funded trading accounts even though this is inconsistent with CME rules and the CME has told us the rules. And by the way they are the only ones who are doing this so that raises a question as to how they can accomplish this. CQG does not do this. TT does not do this. And CTS can only do this with Top Step Trader because Top Step Trader has an old agreement with the CME in this regard. And we are not going to be able to do this either once we become a CME vendor other than for Top step Trader since they have this old agreement with the CME. The rules are quite clear.

    So there really is not an alternative in the case of Earn 2 Trade. There will be in the case of Top Step Trader once we become a direct CME vendor which is still in progress."
  8. Earn2Trade-Ryan

    Earn2Trade-Ryan Sponsor

    Unfortunately we can only work with what we're given. Rithmic informed us that it's simply not possible on their system with anyone, including TST. I can't really speculate how anyone else operates.
  9. canoe


    right. thanks for looking into it at least.

    if Rithmic's telling the truth, perhaps TST has some other method through which they autoliquidate that doesn't rely on only Rithmic. i just don't think it's a coincidence that Rithmic and TST just also happen to be the two entities that have special data priviledges with the CME. weird situation all-around...
  10. The default data provide isn’t Rithmic for TST.
    #10     Sep 4, 2019