Topsteptrader

[Pekelo]

First, an obvious point. We can argue until the cows come home, but here is the very best argument:

Until someone comes here and shows the fat paychecks, everything is rhetorical from the TST side.

Given that his "avg pnl was still small" it perhaps didn't make sense to continue.

Exactly my point. You can make a little money and tag along for months or even years, but what is the point? The whole idea of going with TST is getting the big trading account.
But guess what? EVERYBODY has to scale up. So you might as well scale up your own account.

You said it back in December that now every new Live trader starts out with 2 cars. Geee, that is a 3K account!!! 1K for the intraday margin for ES traders and 2K for losses. So here it is Londonkid for you, after passing the 150K Combine, you will start out with a 3K REAL account size, you heard it first.

And the psychological advantage of trading OPM? It might not exist. I had a C2 account and when I had subscribers, the idea of losing money for them affected my trading just as much as if it would have been my money. So that advantage doesn't work for everyone.

Look people, it is a simple numbers game. Let's say you need 50K after taxes to live on per year. If you have an actual 150K account you only need to make 33% (well 50% if we add taxes) compared to the gazillion % to reach 50K from a 3K starting account. Basicly every month you need a 100% return compared to 4-5% monthly on the big account. What are the chances of that?? Sure you can scale up and sure you will....

And that is why the kiddo should know what exactly he is getting himself into. He is too young and green, he is worrying about my Likes, instead of his future employer's massive false advertisement. Now for good measure I have put him on Ignore, because I don't like cocky ignoramuses, but I will Unignore him in October to see if he is still Live....

Remember, Remember
The middle of October.....

Edit: I see Scalper Joe's account calculation, the difference doesn't really matter, depends on the max. car size and the traded instrument. What matters is that the real account is way below 10K, nothing close to the imagined 150K.

 

[volente_00]

First, an obvious point. We can argue until the cows come home, but here is the very best argument:

Until someone comes here and shows the fat paychecks, everything is rhetorical from the TST side.



Exactly my point. You can make a little money and tag along for months or even years, but what is the point? The whole idea of going with TST is getting the big trading account.
But guess what? EVERYBODY has to scale up. So you might as well scale up your own account.

You said it back in December that now every new Live trader starts out with 2 cars. Geee, that is a 3K account!!! 1K for the intraday margin for ES traders and 2K for losses. So here it is Londonkid for you, after passing the 150K Combine, you will start out with a 3K REAL account size, you heard it first.

And the psychological advantage of trading OPM? It might not exist. I had a C2 account and when I had subscribers, the idea of losing money for them affected my trading just as much as if it would have been my money. So that advantage doesn't work for everyone.

Look people, it is a simple numbers game. Let's say you need 50K after taxes to live on per year. If you have an actual 150K account you only need to make 33% (well 50% if we add taxes) compared to the gazillion % to reach 50K from a 3K starting account. Basicly every month you need a 100% return compared to 4-5% monthly on the big account. What are the chances of that?? Sure you can scale up and sure you will....

And that is why the kiddo should know what exactly he is getting himself into. He is too young and green, he is worrying about my Likes, instead of his future employer's massive false advertisement. Now for good measure I have put him on Ignore, because I don't like cocky ignoramuses, but I will Unignore him in October to see if he is still Live....

Remember, Remember
The middle of October.....

Edit: I see Scalper Joe's account calculation, the difference doesn't really matter, depends on the max. car size and the traded instrument. What matters is that the real account is way below 10K, nothing close to the imagined 150K.

You just watch and learn as londonkid shows you why he is different from the other 10,000 + combiners who have paid for the penthouse with their entry fees.

 

[londonkid]

Now for good measure I have put him on Ignore

Of course you have mate. lol

that is why the kiddo should know what exactly he is getting himself into. He is too young and green

i wish I was young, late 30s and middle aged now. Age isn't necessarily a good measure of intelligence though is it.

he is worrying about my Likes

I am worried for you mate, those are rookie numbers. How come nobody likes what Pekelo is saying? Lonely in Loserville.

Until someone comes here and shows the fat paychecks, everything is rhetorical from the TST side.

TST have funded over 150 traders this year already! Now you are saying nobody is getting a decent pay check. Man you are a doom monger. I suppose all these 150 traders are losers from loserville aren't they.lol

If someone showed you a fat pay check from TST I guarantee that would not change you in any way. You would simply reply with some of the following: (i) must be an outlier (ii) thats not much money its only x thousand (iii) you photoshopped it (iv) you wont be able to do it consistently (v) you would have made 20% extra if you did it in a piker account.

Exactly my point. You can make a little money and tag along for months or even years, but what is the point?

There is no point to your point. Crispy had a narrow edge and moved on. Does that mean that other traders will have an equally narrow edge, of course not. For most there is no point as they have no edge and no discipline it is futile for them. After years of donating to the market you can see people get locked into negative emotional thinking. Then this leads to the 'nobody can do it' vibe which is of course the minds way of coping, we are hard wired for survival.

But guess what? EVERYBODY has to scale up. So you might as well scale up your own account.

dude. we have been over and over this. it's not the same.

So here it is Londonkid for you, after passing the 150K Combine, you will start out with a 3K REAL account size, you heard it first.

good grief. they are on the hook for the 1st 4.5k of losses in days 1-10.

And the psychological advantage of trading OPM? It might not exist. I had a C2 account and when I had subscribers, the idea of losing money for them affected my trading just as much as if it would have been my money. So that advantage doesn't work for everyone.

You were clearly not confident in your ability to make money consistently. I would hazard a guess that you were not cutting back your size after losing trades, a rookie mistake.

 

[londonkid]

You just watch and learn as londonkid shows you why he is different from the other 10,000 + combiners who have paid for the penthouse with their entry fees.

I paid $400 for a 10 day $150k combine. I personally liked the proposition that they would refund me the $400 if I missed the 6% profit target and stuck to the other rules. As Mav pointed out all you need to do is be a scratch trader to get your money back. Now i passed the combine I get the $400 back. simple.

What's hilarious about the 'better with a piker account' crowd is I took the same trades in my personal account that I took in the combine, I just cracked on as normal.

Of course TST make money from combines and funded traders, it has to be that way. It's a business! I take my hat off to anyone who runs their own business, employs people and makes profit, trading business or otherwise. I really like the model and what it can offer to the aspiring trader.

PS - your like ratio makes Pekelo's rookie number look good. You really should be investing in a multinic to bump up that number or perhaps a buddy like arrangement with Pekelo.

Just playing with yah. Good weekend.

 

[shiko2000]

This corpse has been picked to the bones after years of discussions. Yet, hyenas are still coming to lick old bones I think everything must be clear by now.
I followed Maverick74 advice from last spring and put my money where my mouth is.

 

[Pekelo]

You are absolutely right....

This corpse has been picked to the bones after years of discussions. Yet,

...newbies come here and start to stir up old, already settled FACTS....

Fun fact: If you read the TST thread at Trade2win, they came to the exact same conclusion, like we did...

 

[londonkid]

You are absolutely right....



...newbies come here and start to stir up old, already settled FACTS....

Fun fact: If you read the TST thread at Trade2win, they came to the exact same conclusion, like we did...

Pekelo you talk BS not facts. If you believe conclusions arrived at on trading forums you will always be a loser. Everyone here are trading millionaires right lol. I know a loser when i see one. I bet you drive a Hyandai.

 

[VPhantom]

So you are predicting that I will be done with TST after 3 months? thanks for the confidence boost, nice one.

The reason could very well be that you've accumulated enough capital to outgrow them! TST is only really appealing to someone without say $100-200K to throw at intraday futures trading. The closer you are to that, the more it may make sense to trade on your own. At large enough personal size, staying at TST would basically mean trading 20% off of profits for black swan event protection. Could be worthwhile depending on your risk management, but it's really the only advantage offered long-term. (They do talk of increasing size beyond the last step of the ladder, so that's good.)

I'll admit, knowing I'd never have to write a cheque to my broker if something catastrophic happened while I was in a position, sounds rather nice. As we saw with the CHF (un)peg, only bucket shops offer that kind of peace of mind (in exchange for poor prices).

If you want to know about the non complete you could always ask TST via email.

(FYI @volente_00 ) The response I got on the subject was that it didn't apply to personal/family accounts, and that they have now removed the 1-year clause; so now when someone leaves TST, they're immediately free to go anywhere else. (Unless it changed again.)

 

[volente_00]

Londonkid

Do you reside in the states ?

If you can trade like you claim, what is the incentive to trade through tst and give up 20% while having to keep a deposit in the tst account that would give you the same increased size in your personal account without any profit split ?

 

[volente_00]

The reason could very well be that you've accumulated enough capital to outgrow them! TST is only really appealing to someone without say $100-200K to throw at intraday futures trading. The closer you are to that, the more it may make sense to trade on your own. At large enough personal size, staying at TST would basically mean trading 20% off of profits for black swan event protection. Could be worthwhile depending on your risk management, but it's really the only advantage offered long-term. (They do talk of increasing size beyond the last step of the ladder, so that's good.)

I'll admit, knowing I'd never have to write a cheque to my broker if something catastrophic happened while I was in a position, sounds rather nice. As we saw with the CHF (un)peg, only bucket shops offer that kind of peace of mind (in exchange for poor prices).



(FYI @volente_00 ) The response I got on the subject was that it didn't apply to personal/family accounts, and that they have now removed the 1-year clause; so now when someone leaves TST, they're immediately free to go anywhere else. (Unless it changed again.)

Thanks

One of the problems I have always had with tst is the rules have changed constantly over the past 5 rules which gives the impression that they can't make up their minds on what they really want.