TopstepTrader Q & A

[Xela]

none of it is addressing my explanation why they have so many funded traders from poorer countries.

I agree with what you said about that, anyway.

Clearly their target market is people with some trading skills and some genuine understanding of risk-management, but without enough capital to trade futures. And whereas there may be some fitting that description in the US, too, there are obviously quite a few in Eastern Europe, where average incomes in many countries are really low.

People earning $300 or so per month aren't ever, realistically, going to be able to save up enough out of that to trade futures, however good their trading skills, are they?

Also, here is how you mess with stats: TST's 5 year failure rate is 100%, since there is no trader who has been funded for 5 consecutive years. (If there was, my apologies and they should advertise the guy.) <<<< here I am just making a point again about reference time frames

Well, please excuse my making (or repeating) one about slightly faulty information, then, but TST was offering funded traders only a 12-month deal, the last time I looked. Besides which, with the trader getting 80% and TST getting 20%, after one successful year, who's ever going to need them for a second year? So why would anyone ever have been funded for 5 consecutive years??

I'm not trying to have a go at you, at all. I'm "just saying" that plenty of people seem to criticise TST, explicitly or implicitly, for reasons that actually don't have much to do with what they're offering and how their deal works, at all.

You really thought you can leave ET?

It's like the damn Hotel California ...

 

[Pekelo]

1. People earning $300 or so per month aren't ever, realistically, going to be able to save up enough out of that to trade futures, however good their trading skills, are they?

2. TST was offering funded traders only a 12-month deal,

1. Supplementary income. Not everyone's goal is to make millions, after all some people are realist. If the trader is happy making some extra money, (specially if that little money means a lot in his country) why wouldn't he stick with TST for years?

2. I am sure they can extend the contract. If both sides are happy, why would they not? TST never said "only for a year".

 

[Xela]

If the trader is happy making some extra money, (specially if that little money means a lot in his country) why wouldn't he stick with TST for years?

Because he'd be giving up 20% of his profit unnecessarily.

2. I am sure they can extend the contract. If both sides are happy, why would they not? TST never said "only for a year".

You're 'sure', but (please excuse my mentioning that it's also "like a few other things around this subject that you've been 'sure' about in the past"!) you're actually mistaken.

They DID specifically say "only for a year": it was part of the agreement - at one time (I have no idea whether it still is). Again, nothing personal, Pekelo - I'm simply correcting factual misinformation, here.

 

[algofy]

@Xela you remind me of nodoji...do you know her?

 

[Xela]

@Xela you remind me of nodoji...do you know her?

I'm afraid not. I remember reading her posts (and "liking" quite a few of them), around the time I joined the forum, but I think my membership here didn't overlap with her posting for very long.

After a while I didn't see her around the forum, and later I saw a comment from someone else to the effect that she hadn't posted for ages (which was apparently true: I just hadn't realised it).

My impression is that she was/is mostly or entirely a price action trader (as I am)?

I think she was in America, somewhere? I'm in England.

 

[algofy]

I'm afraid not. I remember reading her posts (and "liking" quite a few of them), around the time I joined the forum, but I think my membership here didn't overlap with her posting for very long.

After a while I didn't see her around the forum, and later I saw a comment from someone else to the effect that she hadn't posted for ages (which was apparently true: I just hadn't realised it).

My impression is that she was/is mostly or entirely a price action trader (as I am)?

I think she was in America, somewhere? I'm in England.

Yes she liked beggs, volman, and brooks. Also didn't allow incoming PMs.

 

[Xela]

Yes she liked beggs, volman, and brooks.

Ah well, that explains why I remember liking her posts, probably. Together with some of Joe Ross's stuff, those were really my formative influences.

Also didn't allow incoming PMs.

I see ... that's curious. There was once someone (in another forum) whom I wanted to contact, with whom I seemed to agree about absolutely everything, but he didn't allow them, either: quite annoying!

 

[Pekelo]

They DID specifically say "only for a year": it was part of the agreement - at one time (I have no idea whether it still is).

Are you saying they PREFER not to have the traders working for them for more than a year? That is different than having a contract for 1 year. I think you just mixing up the time limit of the contract and TST's wish.

 

[Xela]

Are you saying they PREFER not to have the traders working for them for more than a year?

No, of course not: I'm saying that clearly nobody would have to, or want to anyway.

I think you just mixing up the time limit of the contract and TST's wish.

TST's imputed "wish" has zero relevance, here, if you think about it - so I think you've missed the point. Sorry.

 

[Pekelo]

I am getting really bored with this discussion...

No, of course not: I'm saying that clearly nobody would have to, or want to anyway.

So you are saying plenty of people want to be a funded trader, but only up to 1 year. Perfectly makes sense, in a Xela way.... Anyhow, the conversations isn't fruitful....