Cooltraderdude's TopstepTrader Combine (daily trade report and journal)

[Maverick74]

Quote from Don Bright:

So, as with many trading "clubs" on the web, advice, training etc. there is a monthly fee. Got it.

Then if they want to pay additionally to enter the combine with the hopes of getting backed, they do so. And, if they make money, splitting it with the Firm, they get refunded that particular portion (combine) fees, great. Ok. Basically a carrot to get members of their online community, and, as you say, they disclose it all, and it's all legal, then sure, why not.

Don

No! LOL. Man you get so close and then blow out at the end. LOL.

They don't join a club or pay a fee. Let's keep this simple. Pay to do a single combine. If you make money, you get it refunded it. If you pass the combine, get funded. If you get funded, you also get a refund. That's it. There is no club or social community. LOL. Don, I pray for you.

 

[marketsurfer]

Quote from Maverick74:

See, I have some thoughts on this. I spent 8 years at VTrader. I saw every type of trader imaginable. I can honestly tell you, there really was no ryhme or reason as to who ended up being a good trader. Some guys were smart as hell, others dumb as a fence post. Some guys worked really hard, some not at all. Some guys were very calm and cool, others were a train wreck. I spent a lot of time with these guys. And I can honestly tell you, there is no way I could pick the winners from a large data set. I think you are better off doing the TST combine approach where you throw 100's into a random combine and see who can swim. Some of the smartest and hardest working guys turned out to be the worst traders. And some guys who I thought shouldn't even work at the DMV made fortunes. That was a real eye opening experience.

The number one trader at my old firm LAC was an unemployed 22 year old teacher--- no market experience at all, she made an absolute killing!

 

[Don Bright]

Quote from Maverick74:

No! LOL. Man you get so close and then blow out at the end. LOL.

They don't join a club or pay a fee. Let's keep this simple. Pay to do a single combine. If you make money, you get it refunded it. If you pass the combine, get funded. If you get funded, you also get a refund. That's it. There is no club or social community. LOL. Don, I pray for you.

Then what the hell is the $150 monthly fee that gives you free advice, a platform, and all the stuff on their website?

"I think you are confusing the $150 monthly membership fee and the 1 time combine fee. You dont have to become a member.
http://www.topsteptrader.com/membership."

Don

 

[Datradr]

MAV

ok fair Enough i do see your point on that and i agree...u cant always tell., but maybe u could still weed out the reckless fools who u know will blow up in the future even if they managed to make something early on.

I wonder how much TST is actually making in profit so far?
They must have big overhead with employees, office space, and oh ya traders losing money for the most part.

 

[traderchi128]

Quote from Maverick74:

Don, I know I sound like a parrot, but you still are not reading this thread. In the futures world, unlike the equity world, you have to pay exchanges for data. I have used Ninja trader in the past and most brokers will give you free 10 days or maybe a month of data. After that, they will charge you. That is how "futures" work Don. So one, you pay for data. Two, they offer a real time news squawk. Yes, just like the one your charge your traders. Yeah Ben Lichenstein. That is true right, you are not giving that out for free right? OK, that's what I thought. So news and data costs money. I highly doubt you and your brother would comp this for someone wanting to do a sim.

Oh and Don? They give you the fee back in a refund if you make a single dollar in profit. I just want to make sure you understand this. You have posted about 5 times on this thread and so far you are shooting 0 for 5 which is kind of low.

Is that Ben from The SP pit? I worked for a few firms back in the day that had him squaking from the pit. Back when there were people actually trading the big contracts in the pit. Was helpful at times .....but with nobody really trading in the pit anymore what use is it listening to him ?

I can't imagine these days how anyone trading ES would have any use for knowing what's goin on in the pit.

 

[Maverick74]

Quote from Don Bright:

Then what the hell is the $150 monthly fee that gives you free advice, a platform, and all the stuff on their website?

Don

Disregard that. It will keep things much easier for you. LOL.

That's for guys who need some basic education and support to get started.

 

[Maverick74]

Quote from traderchi128:

Is that Ben from The SP pit? I worked for a few firms back in the day that had him squaking from the pit. Back when there were people actually trading the big contracts in the pit. Was helpful at times .....but with nobody really trading in the pit anymore what use is it listening to him ?

I can't imagine these days how anyone trading ES would have any use for knowing what's goin on in the pit.

Yup, that's Ben. He can usually be found sleeping out in the courtyard during lunch over by the CBOE. LOL.

 

[Don Bright]

Quote from traderchi128:

Is that Ben from The SP pit? I worked for a few firms back in the day that had him squaking from the pit. Back when there were people actually trading the big contracts in the pit. Was helpful at times .....but with nobody really trading in the pit anymore what use is it listening to him ?

I can't imagine these days how anyone trading ES would have any use for knowing what's goin on in the pit.

My brother and I won't trade without it. Since both the big and emini's are trading in the same pit, with the size orders coming in, Ben's analysis is great IMO. Apparently so do many others. My buddy was there 2 weeks ago, still quite a number of traders in the pit, added to the "Paper" coming in, still a big portion of the market.

Don

 

[Don Bright]

Quote from Maverick74:

Disregard that. It will keep things much easier for you. LOL.

That's for guys who need some basic education and support to get started.

I think I'll write an article, following CoolTraderDude's and others progress. Might be of interest to those who keep asking me the same questions about how to get started. Maybe you can contribute your words to the wise?

Don

 

[traderchi128]

Quote from Maverick74:

Yup, that's Ben. He can usually be found sleeping out in the courtyard during lunch over by the CBOE. LOL.

He is/was a trip. "BORSELLINO 50 BID FOR 500!!!!! MERILL BUYING!!!!!!!!!!!!PAPER BUYING EVERYTHING!!!!!!!!!!!!!!!!!!!!!"


Always wondered if he was talking up his buddies on the floor books.

Also remember the guy in the 30 yr pit on a squak. Basically he was just telling everyone what Baldwin was doing. But then again...back then that's all you need.