Trying to Manage these Trading Combines. Anyone else?

Discussion in 'Prop Firms' started by legionx, May 28, 2020.

  1. legionx

    legionx

    I am with OneUpTrader atm. Made my 9k already, should be funded in the next two weeks. Just did a reset for the first time with SMB. Platform I am using is Ninja Trader.

    If all goes as planned, I will try one or two more companies as well for the combines.

    I also have a micros account with amp futures which I use as practice. Funny that I have not blown it up yet.

    Are you in any Trading Combine and if so, which company/companies?
     
  2. TopstepTrader

    TopstepTrader ET Sponsor

    Hi @legionx,

    Let me know if you have any questions about TopstepTrader or if you'd like an introductory call. I'm more than happy to get something set up.

    Thanks!
     
  3. Dazz

    Dazz

    I think he asked "Are you in any Trading Combine and if so, which company/companies?"
    OneUp, originally called MES, is compared to TS here - see if it helps,
    upload_2020-5-28_20-32-3.png
     
    Laissez Faire likes this.

  4. OneUp also has an 80% trader allocation - it just costs more per month for the tryout.
     
  5. That image looks a bit skewed to be anti-TST. For example "Duties: Classes, meetings, training?" None of that is true. "Rules strict: mainly CL traded"? How would you even know. In my experience most TST traders deal with ES actually. Not that it matters at all.
     
  6. Dazz

    Dazz

    MES was built as a positive competitor against TST, which is really structured to profit from trader failures. So yes it is market favorable.
     
    Real Money likes this.
  7. TopstepTrader

    TopstepTrader ET Sponsor

    There are multiple inaccuracies in the infographic regarding TopstepTrader:
    • The Trading Combine is offered from $150-$375, depending on the account size. The Trading Combine is the evaluation period to receive a Funded Account. While the Trading Combine does take place on a simulator, it is not merely a demo account.
    • There are no required classes, meetings or trainings. However, many take advantage of our coaches and other resources.
    • We offer trading on 14 platforms, including TSTrader, NinjaTrader, and TradeStation.
    • The Trading Combine rules can be reviewed here. This article also covers loss limits and the scaling plan.
    If you need any clarification or have any questions, please reach out to us at support@topsteptrader.com.

    Thanks!
     
  8. Dazz

    Dazz

    it would be helpful to see a side by side of TST, OU and Leeloo on various critical comparisons and features; since all profit from trader failure it is the other aspects that need to be reviewed. TST - will you do that?.
     
  9. legionx

    legionx

    Hello, just checking in for the week to give update on my progress. This week was tough. Is there ever and easy day in trading? LOL. I am also very familiar with TST and the business model for it was my first funded experience. Maybe in the future but I am not interested in the business model atm. Blew my personal account maybe around 800 dollars lost, sigh. I should be funded next week with ONeUp with the 150k account. Today was the second toughest for me in this week because I was down 700 dollars and I was very happy to crawl out of that slump. BTW, this might be my fourth or fifth time being funded with OneUp. The second time I was funded with the 150k account I lasted 6 weeks. My biggest mistake was when I reached 5k, I decided my first trade was going to be with 8 lots. Emotions were very high, analytical skills next to zero :).
     
  10. Most of the prop forms such as Topstep, Earn2Trade, OneUp and others have very flawed models as far as "scaling up"

    The problem in my opinion is as follows:

    Say for example you take the $150K challenge at TopStep Trader, Earn2Trade and OneUp Trader (the one up pne with 80% payout that is $350 a month so it is comparable to TopStep $150K 80% payout and Earn2Trade $150K challenge with 80% payout)

    Generally speaking these 3 plans are similar in the fact that they allow the trader to have max size of 3 lots to start and as their account size grows the trader is allowed to scale up and now start trading as many as 12 to 15 contracts total if their account hits a certain amount of profits

    The problem for the trader is --even though you can now trade as many as 12 to 15 contracts
    (basically 4X or 5X your original max size of 3 contacts at the start) - this scaling plan actually makes things much more difficult for the trader (if they trade max size 12-15---or really even anything over 3 contracts)

    ---why? mainly because the starting max daily loss and trailing max drawdown that these companies give you (that does not increase with the scaling plan) is really only realistic for trading 1, 2 or at max 3 contracts---all the scaling plan does it put the odds much more in the company's favor that you will overtrade take too much risk VS the unchanged and unenlarged max daily loss limit and trailing max drawdown

    because your max daily loss, max weekly loss(if applicable--I think only Topstep uses max weekly) and your trailing max drawdown --all remain the same amounts as when you started and could only trade a max of 3 contracts. So now if you indulge yourself and start trading for example 8 contracts or 10 or 12 or even 15 - you are putting yourself in a huge risk position as your max daily loss and trailing drawdown have not been increased at all.

    In reality the starting max daily loss and trailing max drawdown that these companies give you with the $150K challenge is really only realistic for consistently trading 1 or 2 contracts or at max 3 contracts---if these companies really wanted you to succeed long term they would actually increase your max daily loss and max trailing drawdown when the increase your max # of contracts you are allowed to trade

    EXAMPLE: Earn2Trade $150K mini gauntlet https://www.earn2trade.com/gauntlet-mini
    TopStep and OneUp's $150K challenges have similar scaling plans and max daily loss and max trailing dawdown to Earn2Trades $150K challenge

    Profit Goal - $9,000
    Trailing Drawdown - $4,500
    Daily Loss Limit - $3,300

    Max Position Size - maximum 4 contracts to start
    when your profit is $1501 to $3,000 your max contract size is increased 50% from original 4 lots to now max being 6 lots - however your trailing drawdown has not been increased 50% and is still
    $4,500 and you max daily loss has also not been increased 50% and is still $3300. What they really should do is if they increase you max contract size 50% then the starting Max Trailing Drawdown of $4,500 should be increased 50% as well to $6,750 - and the starting Max Daily Loss limit of $3300 should also be increased
    from $3300 to $4,950

    when your profit is $3,001 to $4,500 your max contract size is increased 100% from original 4 lots to now max being 8 lots - however your trailing drawdown has not been increased 100% and is still
    $4,500 and you max daily loss has also not been increased 100% and is still $3300.
    What they really should do is if they increase you max contract size 100% then the starting Max Trailing Drawdown of $4,500 should be increased 100% as well to $9,000 -
    and the starting Max Daily Loss limit of $3300 should also be increased from $3300 to $6,600

    when your profit is $4501 or more your max contract size is increased 375% from original 4 lots to now max being 15 lots - however your Max Trailing Drawdown has not been increased 375% and is still
    $4,500 and you max daily loss has also not been increased 375% and is still $3300. What they really should do is if they increase you max contract size 375% then the
    starting Max Trailing Drawdown of $4,500 should be increased 375% as well to $16,875 - and the starting Max Daily Loss limit of $3300 should also be increased
    from $3300 to $12,375

    Now in reality it is probably more important that they do this in your funded account as that is when they are getting their 20% cut in real money
    They also could put additional requirements to increase you max contract size allowed in funded accounts to give them more assurance that you know what you are doing on a consistent basis such as tying increases to certain other metrics being met
    or consistently growing account size over time - etc.

    They could even just keep things the way they currently are as the standard combines but also offer for an additional fee--enhanced combines that increase max daily loss and max trailing drawdown the same percentage as max contract size being increased in scaling plan and if you pass that it stays the same in your funded account
     
    #10     Jun 6, 2020
    ElectricSavant likes this.