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You do realize that in order to get the 66, you must have a 7? The 66 is a combo test of the 65/63. Usually, the big brokers (Fidelity, Schwab, etc) will require the 66 to be passed once you have the 7. But in order to take the 7, you have to have a sponsoring broker. The Series 65, however...

Do you have the ability to do a Google search? If you think the advice is bogus, then research it yourself. YES, the 7 is a harder test.

Just for clarification, what I meant was to trade the combine when you're ready and feel you have a high probability of passing, as opposed to opening your own retail account. Also keep in mind that when you trade sim on your own, nobody is holding you accountable for any performance metrics...

No, you STILL don't get it! You cannot "put in a similar performance" because you have to adhere to the additional weekly risk targets AND the scale up plan, which are NOT in the combine. This means when you review your stats in the combine and had days where you scaled up in any way, shape or...

Absolutely. When the naysayers claim "it's simulator, anyone can make money trading sim" they don't understand that the combine will FORCE you to identify your weaknesses and improve upon them. Hence the combine is a great way to control risk under pressure. It's better (and more cost...

Some prop firms such as Chimera will accept trainees with no experience, but also take experienced traders who can provide their own capital. Syswizard is correct, all traders join prop firms to get access to the firm's capital to trade with, at a much higher leverage than PDT rules of 4x intraday.

The 7 is a much harder test, and more detailed, than the 56. However, there are more opportunities for the 7, especially if you want to go work for a broker/dealer.

shiko2000: As I recall you posted decent stats in the combine, and had consistency with passing multiple times. Your post speaks volumes about the critical aspect of the TST live account, especially this sentence: "...got live funds without LTP. After 10 days I was down a bit, some $100. I...

Pekelo, Yes, the analysis is quite simple, and as you've stated, it's about the analysis and basic math. Here's a post from that thread, obviously this guy gets it (underline is for emphasis).

Yes, I've mentioned that before, and it's sound advice. The cost used to be $100/month, reduced to $35, and you get the charts as well. I'm using it now on the 150k sim account. I agree one should use this route before taking the combine. The risk parameters are the same, so it's a good way...

Dude, it's pointless having a constructive debate when you take things out of context. My only reference to Crispy was that he claimed his account was too small, and therefore he was unable to monetize the scale up plan. This has direct correlation with the profit cushion, however you seem to...

Thanks, although I have no obsession with cushions, I do have a Tempurpedic mattress. It's quite an expensive "cushion" but well worth it in my opinion. I've attached a link, in case you decide to purchase one with your first check in the live account. Of course, AFTER you have built a...

You clearly missed the point with my repeated references to the cushion. Those who have equity and are able to build upon that equity are the ones that will take decent sized checks. Therefore, the MOST important part of the equation is the cushion. NOT the combine, the cushion. We observed...

No, since TST doesn't require anyone to purchase educational courses in order to trade a combine. If they did, then I'd change my opinion. Sure, they may offer courses and some coaching, but it's optional.

I'm not sure about their current terms, however another trader I know recommended them awhile back. If you look at Great Point Capital's SEC.gov focus report, they posted over $30 million in net capital at the end of 2014, so they're obviously well capitalized for prop traders. Since you've...

Yes, that sums it up nicely. There are probabilities at each stage in the three stage process: passing a combine (and possible live trader prep), building a cushion, and taking a check. When you look at each stage while taking a structured risk/reward approach, it does indeed boil down to pure...

Even if someone has the ability to trade 20-25 cars, that doesn't mean they have to use that max lot size, so knowing how many max cars doesn't reveal much, except for the total profit they have achieved to reach that "scale up" contract size. The "number of traders passed" doesn't reveal much...

I have nothing against Austin but promoting a training class on how to pass a combine when you didn't pass the damn thing is disingenuous. As the saying goes, if you can't trade, TEACH! :D

It's unlikely a TST rep "manipulated his trades" to do what, make him fail? It seems this person was upset when asked to complete a funded trader prep "second combine" and thus decided to blame TST. The rules clearly spell out that you may be asked to take a funded trader prep BEFORE getting...

Yes there is, the max drawdown is limited by the cushion! Volente asked about "traders making a killing" and I responded stating that you cannot have traders who make a killing if they have smaller max draws. In other words, a trader with a $1,000 cushion cannot "make a killing" because he is...