Maverick74 and marketsurfer's TopstepTrader Combine (daily trade reports and journal)

[austinp]

Quote from icarus618:

Don't you need to keep $30K of your profits in the account to get the 80/20? And isn't that $30K your max "drawdown"?

http://www.topsteptrader.com/fundedtrader

Initially, a newly funded trader will begin trading a "Live Combine." While trading in the Live Combine, certain trading metrics must be maintained. Once a trader has been proven in the live environment and has built an account cushion (see above), the Live Combine ends. Once an account cushion has been built, a trader will NOT be moved back to the Live Combine. Once established, the account cushion does not have to be maintained, the account withdraw is at the discretion of the trader.

 

[marketsurfer]

Quote from austinp:

you start with zero. you make +$30,000. you withdraw 80% and pocket $24,000

you start with zero. you make +$10,000 peak, the proceed to lose it all and also draw down to max loss and stall.

in either scenario, what do you actually lose?

These folks clearly never lose and are rolling in cash. Nothing else makes sense.

 

[icarus618]

Quote from austinp:

you start with zero. you make +$30,000. you withdraw 80% and pocket $24,000

you start with zero. you make +$10,000 peak, the proceed to lose it all and also draw down to max loss and stall.

in either scenario, what do you actually lose?

You need to waste a bit more of your life and read the funding agreement carefully. The profit split is 60/40 to start. To get to 80/20 you have to keep the $30K in the account as a cushion.

 

[austinp]

Quote from icarus618:

You need to waste a bit more of your life and read the funding agreement carefully. The profit split is 60/40 to start. To get to 80/20 you have to keep the $30K in the account as a cushion.

That requirement would be fine with me... and I have until 10:30pm tonight to waste.

If you'd please copy-paste that condition here, I'd appreciate the effort. I must have overlooked it somehow.

 

[austinp]

Quote from austinp:

http://www.topsteptrader.com/fundedtrader

Initially, a newly funded trader will begin trading a "Live Combine." While trading in the Live Combine, certain trading metrics must be maintained.

Once established, the account cushion does not have to be maintained, the account withdraw is at the discretion of the trader.

The profit split is 60/40 to start. To get to 80/20 you have to keep the $30K in the account as a cushion.

all I saw myself in the site is above

 

[icarus618]

Quote from austinp:

The profit split is 60/40 to start. To get to 80/20 you have to keep the $30K in the account as a cushion.

all I saw myself in the site is above

Quote from austinp:

http://www.topsteptrader.com/fundedtrader

Initially, a newly funded trader will begin trading a "Live Combine." While trading in the Live Combine, certain trading metrics must be maintained. Once a trader has been proven in the live environment and has built an account cushion (see above), the Live Combine ends. Once an account cushion has been built, a trader will NOT be moved back to the Live Combine. Once established, the account cushion does not have to be maintained, the account withdraw is at the discretion of the trader.

I wasted my life and read that too the other night when I could have been really living and shined my shoes. In any case, where does that paragraph say you get 80/20? I included the funding table in my post to you. There's this little tab on the left that says "ACCOUNT CUSHION" that you might have missed.

 

[austinp]

Quote from icarus618:

I wasted my life and read that too the other night when I could have been really living and shined my shoes.

Pertinent bullet points are circled in red and/or arrowed. That is my understanding of the details, could be wrong. I took this extra step because I think you are a decent, objective guy

Secondly, the only people here who aren't wasting time in this thread are those engaged in the process... with some potential to gain. Otherwise you might as well go to chit-chat or politics and spend the same amount of time & effort there at random.

The net gain to you will be equal, in either case.

 

[ARDL]

Quote from austinp:

Who here amongst us would walk past a free $192,000 cash just lying (laying? I always get that useage confused) on the sidewalk across the street. All you have to do is look both ways, walk across the street and pick it up.

they are really only giving you $4,500, the amount that you can lose.

i'm surprised more guys aren't talking about the commissions. true futures prop shops in chicago have guys paying commissions at cost or very small mark-ups (.10-20 a round turn) over members rates. do some math on their commissions and it gets very expensive if you trade any kind of size, which is the whole point of trading prop.

 

[austinp]

As an objective participant with no affiliation to or with TST, here's what I see as downside risk to me:

#1: fail to qualify for funding thru failed trading efforts. Lose -$350

#2: TST is proven to be a complete fraud. Chargeback the $350 purchase thru paypal and lose nothing.

#3: TST funds me and I fail to make any money in the account. I lose nothing.

#4: TST funds me, I make money in the account and the clearing firm goes MFG-PFG. I lose nothing.

I cannot think of a fifth scenario of failure. That's about all the downside I could come up with before I decided to pay my fees and work the process.

 

[icarus618]

Quote from austinp:
Pertinent bullet points are circled in red and/or arrowed. That is my understanding of the details, could be wrong. I took this extra step because I think you are a decent, objective guy

Well you don't know a thing about me then. I'm as indecent as they cum and everything I think and do is subjective. But I do appreciate your appreciation.

Obviously the best way to find out the actual policy is for TST to chime in.

Under your reading, a trader can make $30K profit, withdraw all of it ("cushion does not have to be maintained") and yet still qualify for 80/20.

I read it a bit differently. Your version doesn't jibe with the graduated requirements for different account sizes merging into one box after $15K+ in CUMULATIVE (I read that as "built up") profits for 70/30 and $30K+ in CUMULATIVE profits for 80/20.

Quote from austinp:
Secondly, the only people here who aren't wasting time in this thread are those engaged in the process... with some potential to gain. Otherwise you might as well go to chit-chat or politics and spend the same amount of time & effort there at random.

The net gain to you will be equal, in either case.

I don't look to gain anything from my participation in this place except a bit of fun. As of late, this thread is the most fun here, but it has definitely jumped the shark already.