Topsteptrader

[ScalperJoe]

after day 10 of funded there is no max drawdown rule just the simple max daily loss.

Yes there is, the max drawdown is limited by the cushion!

Volente asked about "traders making a killing" and I responded stating that you cannot have traders who make a killing if they have smaller max draws.

In other words, a trader with a $1,000 cushion cannot "make a killing" because he is limited by the constraints of that cushion.

 

[ScalperJoe]

Yes, those lizard people get everywhere, don't they? Again, I can't comment on the veracity of the complaint, although it does seem over the top. I just came across it.

It's unlikely a TST rep "manipulated his trades" to do what, make him fail? It seems this person was upset when asked to complete a funded trader prep "second combine" and thus decided to blame TST. The rules clearly spell out that you may be asked to take a funded trader prep BEFORE getting the live account, so making a claim of being "backed into a corner" does not seem accurate. Of course, I have no way to verify the authenticity of the complaint and I'm only providing my opinion as well.

 

[ScalperJoe]

I always thought TST was kind of genius, but Austin is an even bigger genius, since he found a way how to finance his Combine efforts and make REAL money, even if he fails it. That is some sort of Trump-kind business sense, I say...

Congrats to you Austin and Godspeed!

I have nothing against Austin but promoting a training class on how to pass a combine when you didn't pass the damn thing is disingenuous.

As the saying goes, if you can't trade, TEACH!

 

[ScalperJoe]

Instead of the number of traders passed I would like to know let's say the top 5 biggest traders' average max. contract size. (my guess is it is around 20-25 cars) That would indicate just how big account they are handling.

Even if someone has the ability to trade 20-25 cars, that doesn't mean they have to use that max lot size, so knowing how many max cars doesn't reveal much, except for the total profit they have achieved to reach that "scale up" contract size.

The "number of traders passed" doesn't reveal much either, except that it provides a motivational angle for other traders to gain a sense that it's actually achievable with proper risk management and trading discipline.

What would be most revealing is the correlation of combine passed and cushion built, and whether or not that cushion was enough to enable the trader to start taking checks.

 

[ScalperJoe]

Yes, eventually everything boils down to pure math.

Yes, that sums it up nicely. There are probabilities at each stage in the three stage process: passing a combine (and possible live trader prep), building a cushion, and taking a check.

When you look at each stage while taking a structured risk/reward approach, it does indeed boil down to pure math, and perhaps a little bit of luck!

 

[volente_00]

Londonkid

What are your intentions with Tst ?
Do you intend to stay long term with them and give up 20% even though you can obtain the exact same leverage with a retail account ?
I actually hope you succeed and prove us all wrong. Good luck.

 

[volente_00]

As the saying goes, if you can't trade, TEACH!

Is that the tst motto?

 

[ScalperJoe]

Is that the tst motto?

No, since TST doesn't require anyone to purchase educational courses in order to trade a combine. If they did, then I'd change my opinion. Sure, they may offer courses and some coaching, but it's optional.

 

[londonkid]

It's here in this thread, although from several years ago:

http://www.elitetrader.com/et/index...rs-easy-to-read-questions-and-answers.248798/

Thanks for posting. The post is 3 years old when TST said they had 17 funded traders (they were just getting started in earnest). My understanding is they are a much larger operation now and have taken on 150+ funded traders year to date. Therefore the argument about there being nobody earning over 100k today is spurious. GL

 

[londonkid]

So I guess until Londonkid posts those fat paychecks, we can put this thread to rest...

As I have explained before even if I did go on to post a 'fat' paycheck it is NOT going to change your mind/attitude. You will cite one or more of the below reasons. Everything is known in advance lol.

a) you photoshopped the check
b) you got lucky, bet you cant do it again
c) you are some sort of freak outlier

The harsh reality is that a sizeable amount of the largest subset of losing traders will go rogue and vent fury. That's not going to change. I guess Michael realises this hence why he hasn't posted on TST threads for sometime #futile.