Well, if you want to get specific, technically it's 30k. The combine Austin is doing allows you to lose 6k before getting sent back. When he goes live again they wipe that loss out. Michael stated that they are willing to do that 5 times. So if by "give" you mean how much in losses will they absorb, that number in his case is 30k. Just wanted to clear that up.
Maverick74 and marketsurfer's TopstepTrader Combine (daily trade reports and journal)
- Thread starter TST_Hoag
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Well, if you want to get specific, technically it's 30k. The combine Austin is doing allows you to lose 6k before getting sent back. When he goes live again they wipe that loss out. Michael stated that they are willing to do that 5 times. So if by "give" you mean how much in losses will they absorb, that number in his case is 30k. Just wanted to clear that up.
Quote from austinp:
"Whining" would be all those endless threads and blogs out there where big-money traders with $millions parked in MFG and PFG now have nothing but empty accounts and regrets. For all you and I know, mighty IB or any other dealer could be next.
That would be whining about needing capital. You have mistaken my interest in free money on the side for that.
Now if someone offers me $150,000 to start and negotiable upside from there... with no risk of loss to a clearing firm crash on my part, I'm interested. If not, I'll keep doing what I'm doing in the freakin' CL and that'll be just fine
Do you really think you would see a dime if the backing firm filed a chp7 and listed your trading profits as a liability ?
And a good year for them is 20% return yet the combine wants you to generate $2500 profit in 2 weeks on $1500 worth of intraday margin
Guys, is there anyway we can keep this thread on topic? Otherwise, let's just close it.
60/40 tax treatment and get stuck paying 15.3% extra for self employment tax on top of your tax bracket.
It's amazing the hate people toss out. So tell me how many have just put 5k in the account and never looked back first time out.. Doubt it. People who trade know its not just a walk in the park. So serious if you are bitching about 300 dollars which can be made and lost. In 1 min in the futures market needs to get a life. so I risk 300 instead of 10k get some help and maybe get a account can't be all that bad. I am guessing all the hate is from prop house that. Are jealous. Since most don't teach you anything and just take your 5k and you trade it your self and the prop firm really doesn't put any risk capital on the line..
Peace out
Peace out