I wasted a few months of my time last year with TST and just completed wasting 2 months with the sexier cousin. I traded "live" with both until I realized they are into a different game (not at all profitshare). If you are a trader or aiming to be one, stay away from them and their sexier cousins who are likely to arrive in the future (because the business model TST created and tested and perfected to make huge money from, is so good). If anybody is telling you they have been receiving monthly or weekly wire transfers from one or both; please verify a screenshot of their bank statement before believing what they say.
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Review of One up trader
- Thread starter caacapital
- Start date
if anyone can stay funded for 5+ months they have a really good shot people throwing money at them to manage. I’ve said this before I think it’s a really good training tool. Instead of losing $1000s in a week or month as I have done jumping into futures this gets you 80% confidence you can do it in a live market as long as your trading liquid products because otherwise you will have to factor in how your order will affect the market. The pressure is about the same for me at least.
I wasted a few months of my time last year with TST and just completed wasting 2 months with the sexier cousin. I traded "live" with both until I realized they are into a different game (not at all profitshare). If you are a trader or aiming to be one, stay away from them and their sexier cousins who are likely to arrive in the future (because the business model TST created and tested and perfected to make huge money from, is so good). If anybody is telling you they have been receiving monthly or weekly wire transfers from one or both; please verify a screenshot of their bank statement before believing what they say.
if anyone can stay funded for 5+ months they have a really good shot people throwing money at them to manage.
Exactly so ... even I know a couple of people who've got started, successfully, that way, through TST.
I think the Combine pass-rates aren't a lot higher than 20%, but with absolutely no entry-barriers at all and so many people with inflated expectations, I suppose that isn't a surprise at all, really?
Still, it's a very-low-cost opportunity for people with trading-skills and no trading capital of their own. (And the first part of the Combine has just been reduced from a 10-day minimum to 5 days.)
@Xela & @Cacapital : Fully agree. They can't keep a consistently profitable trader for long, because the payouts will go out of their profits (if they at all payout huge sums).
Just to hone trading skills or practice or paper trade, why does one need these outfits? For just about $55 a month you get to paper trade as many contracts as you wish on the same platform and latency that these guys have licensed (unlike 3 for $150 and 10 for $650 and so on). I am sure cheaper realtime paper trading options do exist.
Its a fabulous business model to feed on and rip off aspiring traders in a rather smart way. Awards for that should go to TST. And to the other one obviously one up in credibility provided by options like a 25 contract account. I have heard folks raising regulatory questions but doesn't look like the regulators have that many violations to set right in this model. So I expect sexier versions to be born in the coming time. Until the aspiring to get funded trader begins to stay away. Will that ever happen?
Just to hone trading skills or practice or paper trade, why does one need these outfits? For just about $55 a month you get to paper trade as many contracts as you wish on the same platform and latency that these guys have licensed (unlike 3 for $150 and 10 for $650 and so on). I am sure cheaper realtime paper trading options do exist.
Its a fabulous business model to feed on and rip off aspiring traders in a rather smart way. Awards for that should go to TST. And to the other one obviously one up in credibility provided by options like a 25 contract account. I have heard folks raising regulatory questions but doesn't look like the regulators have that many violations to set right in this model. So I expect sexier versions to be born in the coming time. Until the aspiring to get funded trader begins to stay away. Will that ever happen?
@Xela & @Cacapital : Fully agree. They can't keep a consistently profitable trader for long, because the payouts will go out of their profits (if they at all payout huge sums).
Why would the payouts come from their profits if the trades are passed through to market?
The combine failures fund the percentage of "consistently profitable trader"
These operations earn 20% of the profits from "consistently profitable trader"
Just to hone trading skills or practice or paper trade, why does one need these outfits? For just about $55 a month you get to paper trade as many contracts as you wish on the same platform and latency that these guys have licensed (unlike 3 for $150 and 10 for $650 and so on). I am sure cheaper realtime paper trading options do exist.
Its a fabulous business model to feed on and rip off aspiring traders in a rather smart way. Awards for that should go to TST. And to the other one obviously one up in credibility provided by options like a 25 contract account. I have heard folks raising regulatory questions but doesn't look like the gulators have that many violations to set right in this model. So I expect sexier versions to be born in the coming time. Until the aspiring to get funded trader begins to stay away. Will that ever happen?
Why would the payouts come from their profits if the trades are passed through to market?
The combine failures fund the percentage of "consistently profitable trader"
These operations earn 20% of the profits from "consistently profitable trader"
These outfits appear to have a close connection with the intraday trading of their funded traders.
Could they not piggyback traders that have outstanding ability?
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I had 1 additional rule when trading the funded account which required my balance to be positive after 10 days of trading.
This is exactly the rule that I lost my first funding to TST. I was -$100 first time after 10 trading days. So basically these two are same. I will still try, I am working on my forward testing. So, let's see. In this case it looks like it doe snot matter with which one to try. Both are same and considering this talk of draw down increase while in open trade for unrealized profit TST start looking ok again.
One thing is. I am taking into consideration this unrealized profit related drawdown into my trading plan. In any case, price always almost always comes back so, people still have to allow one time pullback against their position while in profit and having predetermined target too.
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(I suspect that some/many less experienced aspirants may not quite appreciate just how significant that is!).
I do appreciate this. Anyway, short of someone aiming for few ticks which is not sustainable. In any case price has to be allowed to come at least once dep[ending upon situation back even when in profit. I wonder if later profit is taken after this pull back is that DD is covered by the profit. Are traders only punished if their profitable position turns eventually into BE trade. Using predetermined targets would be a good idea too. Not to be too greedy.
TST got rid of the 10 day positive rule that was a really stupid rule I actually dont know why people even tried when they had that rule.as far as how much you have to make in both its the same which is 2x the profit target of the program. TST you must meet the profit target in the combine to get the funded trader prep(not funded yet). then in the FTP you start over and have to meet the profit target again. then goto funded where you can take out money as soon as your profitable but must pay the high professional data cost. Oneup you have 1 test meet the profit target to get funded. But in funded you must make at least the profit target before you can take money out with no data fees to pay. One up is harder for people that go for larger gains because they do live trailing stops for example its not odd for me to have a $500+ paper profit goto 0 on rare occasion. One up will count that as an actual loss of 500 even though i actually didnt loss anything.
This is exactly the rule that I lost my first funding to TST. I was -$100 first time after 10 trading days.