TopstepTrader Q & A

Status
Not open for further replies.
But you didn't answer main question - do they force you to do this or do they force anyone ? Are the rules not simple ? They don't hide it - you can find rules on main site. And most important - can you deny that you are able to leverege your own potential risk up to 1:9 at the beginning ? This is not some socialist paradise - it has nothing to do with helping - it's business. Their busness and your business. The rules are simple, not hidden and you (and other ppl) have your own free will. And if someone is thinking in terms of money, risk, economical factors - then he does not bother with the names, marketing etc. Important is what you can get for what. Only this. if you can not think in these categories, think about whether you really want to be in this business. Because you know - there is a lot of manipulation, spoofing, inside trading etc. - and what ? If you loose money because of that you will going around and yelling "it's unethical, it's unethical ! give me my money back" ? (of course this sample has nothing to do with previous subject - it is about approach). Finally, I have a suggestion for you - send mail to Propex and ask them if they will be happy to hire you based on SIM results, academic and other stuff like that. Really - do it. Maybe you will understand something.

Listen about your challenge about Propex That was one of the 2 props where I did the initial test, NO cost! and that is the main point true talent hunting firms dont charge, do you see them charging and other similar firms, you harp on about "nobody put gun to my head etc" of course not, argument is not about anybody forcing it or not argument is about the main core way it is marketed in somewhat questionable if not dubious manner!
any way ,

Simple mE can I ask you a question
I agree with your 1st part ie great idea many have hinted that that is teh best approach
Getting a sim
1. Paper trade with my trading platform using TST rules in the 50K combine til I make 1)pass combine 2)pass FTP 3) get funded and make $5000.
What I dont understand is your part 2
"I will start TST combine once the above is complete and I risk $0.00 of my own."

How is it $0 risk?, you would have already paid for atleast $150 so that is your own money and that too assuming in real life you do pass the test in first go within $150!
 
It is called capitalism. You realize you are in a trading forum, right ?

i’m IN a hot tub, i cannot be IN an online trading forum at the same time.

what is this ‘lt’ that’s called capitalism? There is so much semantic ambiguity and confusion - no wonder we can’t communicate.
 
How is it $0 risk?, you would have already paid for atleast $150 so that is your own money and that too assuming in real life you do pass the test in first go within $150!


I meant paper trading is $0.00 is risk for me. then I pay $165 for the 50k combine.
 
I meant paper trading is $0.00 is risk for me
then I pay $165 for the 50k combine
trader2.jpg
lucky_trader.jpg
, o_O
ET, extraterrestrial trader. 2018
 
Listen about your challenge about Propex That was one of the 2 props where I did the initial test, NO cost! and that is the main point true talent hunting firms dont charge, do you see them charging and other similar firms, you harp on about "nobody put gun to my head etc" of course not, argument is not about anybody forcing it or not argument is about the main core way it is marketed in somewhat questionable if not dubious manner!
any way ,

Simple mE can I ask you a question
I agree with your 1st part ie great idea many have hinted that that is teh best approach
Getting a sim
1. Paper trade with my trading platform using TST rules in the 50K combine til I make 1)pass combine 2)pass FTP 3) get funded and make $5000.
What I dont understand is your part 2
"I will start TST combine once the above is complete and I risk $0.00 of my own."

How is it $0 risk?, you would have already paid for atleast $150 so that is your own money and that too assuming in real life you do pass the test in first go within $150!

I have never said that they will charge you for something. The proposition was to ask them if they will be happy to hire you based on sim trading, academic e.t.c.
 
@SimpleMeLike

"Am I missing something? Why in the world would someone trade their own money when TST will let you risk their?"

You need to remember about pure calculation ;) TST is good for beginning to leverage potential loss. But there is trailing max drawdown. For 150k account it is 4500, so after making 4500 you are risking your money, not their. Then only reason to stay is to make additional money for margins. When you do that (you can cover margins and have some space for drawdown) it is better to go for your own (you don't need to pay split and you can reduce data cost paying for it as non-pro). Simple as that :)
 
Top Step Trader have recently TRIPLED their profit target for their second stage 'Funded Trader Preparation'

So, for example, in the '$50,000' account, you have to trade the first stage called a 'combine' and hit a target of $3,000 profit, under very strict conditions.
Once completed you then have to start again from $0, and hit another profit target of $3,000, with even stricter conditions !!!! (this was formally $1,000 target)

If you ever get a funded account, and you break the rules, you will have to go all the way back to the beginning again ..... Yes, that means achieving those two $3,000 targets again (and paying the monthly fees for the combine)

This is clearly a step that proves Top Step trader are about keeping you in the training stage as long as possible, and not about funding traders.



Look at more closely what you actually get if you do ever reach a funded trader account :

They allow you to trade a maximum 2 lots, to start with (using '$50,000' account example)
They only allow intra-day trading
The margin requirements for S&P Emini, the most popular instrument, is just $400/lot
So they are actually only putting up $800, if you trade S&P emini intra-day

Why would you pay Top Step Trader lots of money to sit on their simulator for a huge length of time, when at the end of it you can only trade two lots ?

Just get a free demo account, trade that to practice, then use $800 to trade your own two lot S&P Emini Account.


Top Step Trader say they have a 'scaling' plan so you can trade more lots in the future. However, you have to create enough profits to trade those extra lots.
If you were trading your own account, and you created that profit, then you could trade more lots because you have more money in your trading account for margin !! So there is no added benefit from Top Step

https://www.elitetrader.com/et/threads/topsteptrader.275976/page-261

From #2602 Feb 1, 2017

I searched and saw this exact same debate has been going on since February 2017.
 
265 pages of spirited debate around TST! Thank you, jinxu, for bringing this treasure trove of pure joy to my attention.

Then it must be your birthday today!! I forgot the exact numbers, but there are like 4-5 very lengthy threads on TST each with more than 500 posts or so, going back to 7years!!

Just do your search here or even better use Advanced Google....
 
Status
Not open for further replies.
Back
Top