Topsteptrader

[Pekelo]

I don't see how TST is operating in a manner that suggests they have "no interest in backing traders."

Well, just one point on this one. By making gazillion rules that makes your head hurt, when it could be automatized. Now I am not against rules, but whatever can be done to help the trader should be done.

What am I talking about? Well, rules about trading just the allowed instruments or certain trading times. That should be built into the platform, I the trader have my own rules to watch for, adding a dozen other rules to it is not making my life easier. You want me to go flat before the close? How about automatically flattening my positions 1 minute before the close? You don't want me to trade around news releases? Well, don't let me, by blocking the trades. Instead of that, if you break those rules (even by accident) you get kicked back to the combine.

Now you might say but the trader has to be self disciplined and blah-blah-blah, and I say, if something can be automatized, it should be automatized, this is the 21st century or what.

I mean if they are really in it for backing traders and making profits with them... But that is a big IF....

Also, old timers might remember those horrible stats that were the rage for 2-3 years before they finally came to their senses. Yes, I am talking about Trading duration times* and such. Now how does that help a trader with anything? And if they were so important, why they are not anymore???

*The most insane part about it was, how easy it was to fix it, so you would pass the Combine. But it had nothing to do with real life trading...

 

[smallStops]

I remember that they removed the rules because some traders complained that these rules were "barriers to success". Even better they introduced a combine where aspirants could decide what rules they would abide to themselves.

It would be interesting to know what rule did the trader broke that lead him to being put back on sim.

Are these the rules about not adding to losers, or not increasing size above a certain size depending on the P&L?

 

[volente_00]

I mean, you can't play football if you are afraid of taking a hit and you can't trade if you are constantly in fear of losing. Trading other people's money is not going to erase that fear. Anyway, these are just my opinions.

But that is the very thing that the combine preys on. Fear. Fear of breaking this rule, fear of giving back your gains and failing combine. Fear of having to do live trader prep even if you pass the combine. And the majority of the target audience plays right into the fear trap. Face it, the majority of those taking the combine have probably blown out trading their own money or are inexperienced and lack money to back themselves. You argue that one should take the combine instead of risking real money in a live account. My argument is that one should just trade sim using the same parameters and and handicapping rules that the combine uses without ever risking any money at all. If they cant hack the same conditions under sim then there is no need for this financially strapped person to piss away $175-$400 on a combine every month.
I still stand by my assumption that they make the majority of their income from selling hope and education. Nothing wrong with that if that's your thing but it just sickens me that these dreamers piss away money on something because they are out of options. If you really have any edge trading futures, then why wouldn't you scrape up enough to trade 1 contract on your own ? To replicate the lowest live account you only need about $3000 in trading capital. If you don't have the discipline to save up 3k then you damn sure won't have the discipline that successful trading requires day in and day out.

 

[volente_00]

The edge with TST combine is that is holds you accountable. You can't reset it like a simulator-- it is as close to real conditions as you can get. PLUS the added bonus of being "discovered" if you have talent. Win win for everyone.

Why does $175 hold you accountable ?

Why was it free in the beginning ?

Why was it $60 a few years ago ?





If you lack the capital to trade then you should not be trading at all because you lack discipline and money management. Without these 2 traits you will never be a long term profitable trader.


People fail at trading because it exposes character and personality flaws and reflects the truth back. Most can't handle the truth so they walk away.

 

[smallStops]

Very good question.
I think they were imagining that they'd have thousands of excellent traders they could fund. This not being the case, and adding to the cost of running a business, and the desire to make profits MIGHT explain the increased fees.

I have looked to this company very carefully so as to refer traders there, so as to prevent them blowing substantial amount of money before they are ready to trade their own money. Just preventing others to go the wrong path.

 

[Maverick74]

But that is the very thing that the combine preys on. Fear. Fear of breaking this rule, fear of giving back your gains and failing combine. Fear of having to do live trader prep even if you pass the combine. And the majority of the target audience plays right into the fear trap. Face it, the majority of those taking the combine have probably blown out trading their own money or are inexperienced and lack money to back themselves. You argue that one should take the combine instead of risking real money in a live account. My argument is that one should just trade sim using the same parameters and and handicapping rules that the combine uses without ever risking any money at all. If they cant hack the same conditions under sim then there is no need for this financially strapped person to piss away $175-$400 on a combine every month.
I still stand by my assumption that they make the majority of their income from selling hope and education. Nothing wrong with that if that's your thing but it just sickens me that these dreamers piss away money on something because they are out of options. If you really have any edge trading futures, then why wouldn't you scrape up enough to trade 1 contract on your own ? To replicate the lowest live account you only need about $3000 in trading capital. If you don't have the discipline to save up 3k then you damn sure won't have the discipline that successful trading requires day in and day out.

Come on. We've been over this 100 times. These traders are NOT going to hold themselves accountable on a free sim and you know that. Shit man, I'm the most disciplined guy in the world and back in the day when I played around on sims I always re-set the account after a large loss. Why? Because I could. Look, when people are in that early phase of the game, they need a boot camp. As they get more experienced they don't need it. Again, I keep using Austin as a case in point and you can't seem to refute it. Austin even after 10 years is STILL breaking rules. He is still violating his discipline. You keep talking about what people "should do" and I keep telling you what they "actually" do. One of us is in the real world the other is in a fantasy world. But then again, I believe you stated on here that you had "students" too so I guess there is a lot of vendors here.

 

[brad10]

Maverick,

It's funny how your tone has changed and now you are saying this is mostly for training and to learn discipline. You also said in a very recent post that you have claimed that all along....that it was never about being backed. But I just went through a lot of your old posts on TST and found nothing about you saying it's mostly about training. Can you reference one?

Brad

Come on. We've been over this 100 times. These traders are NOT going to hold themselves accountable on a free sim and you know that. Shit man, I'm the most disciplined guy in the world and back in the day when I played around on sims I always re-set the account after a large loss. Why? Because I could. Look, when people are in that early phase of the game, they need a boot camp. As they get more experienced they don't need it. Again, I keep using Austin as a case in point and you can't seem to refute it. Austin even after 10 years is STILL breaking rules. He is still violating his discipline. You keep talking about what people "should do" and I keep telling you what they "actually" do. One of us is in the real world the other is in a fantasy world. But then again, I believe you stated on here that you had "students" too so I guess there is a lot of vendors here.

 

[drownpruf]

But that is the very thing that the combine preys on. Fear.

lol it's not predatory, any more so than any other service. I take issue with changing the rules on ppl passing the combine, at will, with zero justification. If you have a hard-stop of $2k then leave the fcuker be. The backer wants zero DD and it's not going to happen.

 

[elchapo]

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.

Mav, I understand where you are coming from. My point is I jumped through hoops in hopes of getting a live account. I passed multiple combines and then the "live prep," and then once I was live I was heavily micromanaged. That seems unfair to me. If I am the one who put in the work to develop a profitable plan, why should I not be able to implement it as I see fit?

 

[elchapo]

Interesting post.

The entire business model rests upon the idea that if you pass a combine and the live prep, then you will get a funded account. The rules clearly spell out that not all traders will be asked to perform a live prep, but some will.

Your post is vague and doesn't mention the rule you supposedly broke which got you sent back to the combine.

I'm actually preparing to do another combine, and from my experience thus far, I don't see how TST is operating in a manner that suggests they have "no interest in backing traders."

I guess the only way to find out is to first pass the combine!

I really wish you the best of luck and I hope your experience works out better than mine. I don't want to mention the specific rule I broke because I don't want anyone from TopStep to identify me based on that. The main issue I had with this rule being broken is that it would not have been broken if my trades weren't being micromanaged, or even closed by them.