Topsteptrader
- Thread starter deaddog
- Start date
Yeah Clint I've repeated this over and over on this board and even privately to many members who have PMed me about it. TST is a great training tool. I would never take their backing deal for the simple reason that once you have worked out all your issues and are competent enough to trade on your own, you don't need them. But before you get to that phase, you are far better off not using real money and focusing on ridding yourself of your bad habits. I have no idea why this scam/no scam debate persists. TST is a tool to use. I wish TST was around when I first started trading.
I saw first hand at my trading firm what happens when you take a guy who is long on capital and short on experience into the futures market. My firm had a 50k to 100k minimum so these guys were not trading 5k accounts. They blew through 100k, 150k and one guy over 250k in savings only to realize, maybe they shouldn't be trading futures. And I'll stop any stone throwers right now in their track before they offer some quip about how they should have stopped earlier. EVERY guy thinks he is one trade away from turning the corner no matter how much he has lost up to that point.
What specifically was the "rule" you violated?
But this is EXACTLY what you are doing. Blaming someone else. It's also funny how the crowd is split in two here. One side is accusing them of backing guys that get lucky on one off trades and the other saying they are NOT letting guys get lucky by making them jump through the same hoop twice. I guess it's just like politics....red state/blue state crap.
I don't see it. It seems as though they are in violation of their contract. Doing whatever they can to force the guy off the production account.
The two aren't mutually exclusive - they can have a system that selects unprofitable traders on random luck AND kicks out profitable traders due to unreasonable requirements. Looking at the numbers for the combines, both probably happen with fairly high probability.
If you're not planning to use TST for funding, you can get the exact same result by funding an account to get platform access and then trading in simulation. Even with modest data fees that would be FAR cheaper.
Sure, you can have a lot of everything. But these guys who are failing by definition are failing. It's like blaming your professor for a bad grade in college and saying if they didn't grade so harshly you would have gotten a better grade. It's YOUR job to get a better grade, not the professor's job to grade easy.
Dude, this has all been discussed ad nausem on the prior 50 threads and 50k posts. I made the argument then and I'll say it one more time that traders, on avg, do NOT hold themselves accountable on sim trading. That is a fact. Again, I saw this first hand in my prop office for years. Guys did the free ninja sim all the time. They had no discipline on the sim and sure enough, they just said fcuck it and went live anyway and blew through their life savings. Look, let me use this college example again. It's like saying, why spend 150k on a 4 year degree when I can learn all that shit for free on the internet or even taking online courses. Well, the reason is, most people don't learn shit using that approach. They need to be tested. They need to have homework. There needs to be consequences to missing deadlines and not finishing your work and not doing well on a test. This is why employers won't even return your e-mail if you try to explain to them, oh I learned all that college stuff for free on my own. Yeah right......next!!!! I understand in a perfect world, one should be able to be self taught, and trade on a sim on their own and do all that stuff, but we don't live in that world. We live in the real one. And in the real world if there is no accountability, then you are not going to get a quality result.