Topsteptrader

[ScalperJoe]

ok Joe as long as you don't think he lied that's good enough for me. lol. His hedge fund never had a public audit, those are the facts. His calls are 5hit on his Mad Money, its entertainment for the masses Joe, I am sorry you cant see that.



You are quoting one unproven trader who is a TV pundit Joe. It's emotional all or nothing thinking again. You are only making yourself look stupid here.



Again emotional all or nothing thinking Joe. I said decent traders don't have much drawdown and i stand by it. Of course there will be some traders who allow greater drawdown in their methods but on the whole decent traders are not letting their account go into large drawdowns.

We are never going to agree on this. You can carry on idiolising people like Cramer who is not going to help you find an edge to pass the combine.

Only on ET can we have losing traders arguing that Cramer is a decent trader. It's gold Joe.

Of course I know Cramer is just a TV pundit! There is no reason to disbelieve his stats regarding his hedge fund, but if you want to think he lied about it in his book and what's been posted in various articles, then it's up to you.

It's funny how you only focused the attention on Cramer, and ignored the trader from Great Point Capital, the guys who post their stats on IU, or Reddler from T3, to name just a few.

My only point was that "decent traders" have HUGE swings in P&L ("who allow greater drawdown in their methods"), and you apparently agree. In fact, you had $6,000 in negative trades in your own combine to generate the $10k in profit, lol! My guess is you consider yourself as a "decent trader", correct?

And by the way, name calling such as "stupid" and "loser" only reveals your immaturity.

 

[ScalperJoe]

If you check out the TST Squawk you tube channel at the link below you can listen to interviews of the latest funded traders. 150+ this year.

https://www.youtube.com/user/TsTSquawkRadio/videos

GL.

You do realize that just because they passed a combine doesn't mean that they are currently live traders?

 

[ScalperJoe]

And out of 150 funded how many are currently trading today ?

How many are on track to gross 30k this year ?
How many are on track to gross 100k this year ?

It was asked on prior TST threads and the response by the firm was that it was private information.

As I said before, it really doesn't matter what someone else makes. I'm sure we all hope that EVERYONE who takes a combine makes money. Nobody wants others to fail, at least I don't. However, one must be realistic in the approach to the live account.

If you're really curious in knowing which traders "are on track to gross 30k this year" all you have to do is look at the funded trader stats. The average P&L per day is the key metric.

There was a recently funded trader who took a continuous combine and had just under $90/day in average P&L. Take that $90 and multiply it by 10, for the first 10 days of the live account. Now cut that number in half. Why cut it in half? Because as a live trader it is reasonable to cut down risk in the beginning, especially when you know it's a LIVE account and it's now OPM. Besides, Mike even responded to a question awhile back when asked how live traders do when they start, and he said they usually trade "half as good." You can go back to the original TST threads and you'll find the post.

So now take that $900 and when cut it half it becomes $450. If the trader does manage to have a positive P&L at the end of the first 10 days in the live account, do you think he'd be on track "to gross $30k this year" with a $450 max draw allowance? Of course not!

When I look at my own stats, I have a practice account where I met the performance metrics. It was a 50k "self combine" so it didn't count but I wanted to practice trading ES. I had $112/day net with ES over 28 days. Let's pretend it was a continuous combine and I got the live account. What's my estimated value cushion? It's $112 x 10 or $1,120. Scaling down to half risk, it goes down to $560. Again, is this enough to keep trading in a live account to start taking checks? NO!

I think what traders need to realize is you'll eventually have to pass one of the bigger combines if you plan on monetizing the scale up plan.

The smaller combine traders who haven't built enough profits are not going to last long enough to "gross 100k" or to "gross 30k" or to even gross one dollar, lol!

I think the formula is as follows: Practice with the 30k or 50k combines if you've never traded futures in a live account, and be realistic about the odds of making money in a "piker" account if you do end up going live. Once you realize your potential, then take the bigger combine (100k or 150k). Once you pass it, then plan to build at least a $3k to $5k cushion (bare minimum), and that will improve the odds of taking a check.

 

[londonkid]

You do realize that just because they passed a combine doesn't mean that they are currently live traders?

You are so locked into a negative mindset it is unreal. The interviews on the youtube link I posted are newly funded traders. A good proportion will not remain long term funded, everyone knows that. stay positive Joe.

 

[londonkid]

In fact, you had $6,000 in negative trades in your own combine to generate the $10k in profit, lol! My guess is you consider yourself as a "decent trader", correct?

that is such a braindead comment Joe for so many reasons. I fear there is no help for you.

 

[londonkid]

And by the way, name calling such as "stupid" and "loser" only reveals your immaturity.

I apologise if I have offended you. It is just SO frustrating watching traders focus on things which are beyond their control and put a negative spin on everything. In this game you need to remain positive, objective and focus on things you can influence.

 

[ScalperJoe]

You are so locked into a negative mindset it is unreal. The interviews on the youtube link I posted are newly funded traders. A good proportion will not remain long term funded, everyone knows that. stay positive Joe.

It's not a negative mindset, it's a REALISTIC mindset. You seem fascinated by the amount of funded traders, those who have passed a simulator account, lol! When Pekelo, Volente, I or others ask realistic questions, you either ignore it or go off on tangents as a defensive posture.

Bulls make money, bears make money, PIKERS get slaughtered, lol!

There is a tremendous amount of fantasy in this business, traders think they will take $1,000 accounts and turn it into millions. Why do you think AMP even advertises for $500 margin accounts?

I provided a logical and analytical way to approach the combine (see above). Futures are very volatile. And don't give me the argument of a decent trader who passed a 30k combine and "they can scale up" crap. NO THEY WON'T. If you're starting with a low balance, you have very low odds of making any money. It's very easy to get taken off guard, take a few stops, and get sent back to the combine.

Look, it's no different than the small accounts who make capital contributions with a prop firm. Why do you think Don Bright requires $40,000 from his traders? Because he's been around the block awhile, and knows that the piker accounts ($5k) are going to just churn.

It's no different than the 30k combine "funded traders" who think they are going to get rich. They will just churn as well, because they do not have enough EQUITY to monetize the scale up plan.

Regarding "staying positive" I totally agree. I'm actually very positive, and I'm constantly modifying my approach and improving my stats. That's all one can do. Eventually, traders will come to the realization of what it takes to make money with the TST model, mostly by experience.

 

[londonkid]

It's not a negative mindset, it's a REALISTIC mindset. You seem fascinated by the amount of funded traders, those who have passed a simulator account, lol!

All these 100s of funded traders, interviews on you tube. They can pass the combine and get funded Joe. You are in danger of sounding like a sore loser.

There is a tremendous amount of fantasy in this business, traders think they will take $1,000 accounts and turn it into millions.

I can tell you what fantasy is Joe. Fantasy is someone who keeps failing combines and preaches to others how to trade/pass combines.

It's no different than the 30k combine "funded traders" who think they are going to get rich. They will just churn as well, because they do not have enough EQUITY to monetize the scale up plan.

Ah Joe. Most retail traders have no edge or discipline, they barely know what day it is. It doesn't matter how much equity you give them they will still fail. It's not about the equity Joe. Did you fail your combines because you didn't have enough equity? No you failed because you don't have an edge that you can trade with discipline. You are too focused on worrying about why you cant make it, why the rules are wrong, it's unlikely to change.

I'm actually very positive

really Joe. All I see on this thread is you being negative about TST and having a negative mindset. Granted you throw the odd positive comment in.

I'm constantly modifying my approach and improving my stats. That's all one can do.

There is a lot of improving to do Joe if you are not even a scratch trader. Constantly modifying your approach probably isn't the best way to go in that it is likely you don't know what you are looking for.

Eventually, traders will come to the realization of what it takes to make money with the TST model, mostly by experience.

Another bizarre comment Joe. Are you honestly expecting people on this forum to listen to you on the subject of 'what it takes to make money with the TST model' when you have failed several combines. Are you going to enlighten us all on what it take? If you know what it takes why haven't you simply done that Joe.

I just don't get it. Why continue to slate the TST process and continually rant on about how hard it is and how most of the funded traders don't make any money WHILST failing several combines yourself I am just saying how it looks for the outside Joe.

I am just readdressing the balance here Joe, TST offers a great service to aspiring traders and it's a great opportunity in the right hands. I hate to see the losing traders stop any new traders from utilising TST.

 

[volente_00]

It was asked on prior TST threads and the response by the firm was that it was private information.

As I said before, it really doesn't matter what someone else makes. I'm sure we all hope that EVERYONE who takes a combine makes money. Nobody wants others to fail, at least I don't. However, one must be realistic in the approach to the live account.

If you're really curious in knowing which traders "are on track to gross 30k this year" all you have to do is look at the funded trader stats. The average P&L per day is the key metric.

There was a recently funded trader who took a continuous combine and had just under $90/day in average P&L. Take that $90 and multiply it by 10, for the first 10 days of the live account. Now cut that number in half. Why cut it in half? Because as a live trader it is reasonable to cut down risk in the beginning, especially when you know it's a LIVE account and it's now OPM. Besides, Mike even responded to a question awhile back when asked how live traders do when they start, and he said they usually trade "half as good." You can go back to the original TST threads and you'll find the post.

So now take that $900 and when cut it half it becomes $450. If the trader does manage to have a positive P&L at the end of the first 10 days in the live account, do you think he'd be on track "to gross $30k this year" with a $450 max draw allowance? Of course not!

When I look at my own stats, I have a practice account where I met the performance metrics. It was a 50k "self combine" so it didn't count but I wanted to practice trading ES. I had $112/day net with ES over 28 days. Let's pretend it was a continuous combine and I got the live account. What's my estimated value cushion? It's $112 x 10 or $1,120. Scaling down to half risk, it goes down to $560. Again, is this enough to keep trading in a live account to start taking checks? NO!

I think what traders need to realize is you'll eventually have to pass one of the bigger combines if you plan on monetizing the scale up plan.

The smaller combine traders who haven't built enough profits are not going to last long enough to "gross 100k" or to "gross 30k" or to even gross one dollar, lol!

I think the formula is as follows: Practice with the 30k or 50k combines if you've never traded futures in a live account, and be realistic about the odds of making money in a "piker" account if you do end up going live. Once you realize your potential, then take the bigger combine (100k or 150k). Once you pass it, then plan to build at least a $3k to $5k cushion (bare minimum), and that will improve the odds of taking a check.

I was the one who asked him a few years ago and he said none had made more than 30k back then. He also promised to post the year end trading results and then welched when the time came. My problem is don't preach straight forward and transparent but act the opposite. Throws up major flags to me and is not an entity I would feel comfortable doing business with. I thought they will let you scale up even if you passed a lower combine as long as you as leave enough profits in the account to cover the risk ? And why do you remain handcuffed by so many rules even though you have built up a cushion that covers your risk to them ? Seems counterproductive to make someone trade so conservative instead of letting them run with what works best for them.

 

[volente_00]

All these 100s of funded traders, interviews on you tube. They can pass the combine and get funded Joe. You are in danger of sounding like a sore loser.



I can tell you what fantasy is Joe. Fantasy is someone who keeps failing combines and preaches to others how to trade/pass combines.



Ah Joe. Most retail traders have no edge or discipline, they barely know what day it is. It doesn't matter how much equity you give them they will still fail. It's not about the equity Joe. Did you fail your combines because you didn't have enough equity? No you failed because you don't have an edge that you can trade with discipline. You are too focused on worrying about why you cant make it, why the rules are wrong, it's unlikely to change.



really Joe. All I see on this thread is you being negative about TST and having a negative mindset. Granted you throw the odd positive comment in.




There is a lot of improving to do Joe if you are not even a scratch trader. Constantly modifying your approach probably isn't the best way to go in that it is likely you don't know what you are looking for.



Another bizarre comment Joe. Are you honestly expecting people on this forum to listen to you on the subject of 'what it takes to make money with the TST model' when you have failed several combines. Are you going to enlighten us all on what it take? If you know what it takes why haven't you simply done that Joe.

I just don't get it. Why continue to slate the TST process and continually rant on about how hard it is and how most of the funded traders don't make any money WHILST failing several combines yourself I am just saying how it looks for the outside Joe.

I am just readdressing the balance here Joe, TST offers a great service to aspiring traders and it's a great opportunity in the right hands. I hate to see the losing traders stop any new traders from utilising TST.

What is the service ?
If one is gullible enough to pay to sim trade then I don't think in the long run one has the skill set to trade profitable long term regardless of where or who it is for. Promise me one thing kid, when you make six figures at TST, post the 1099 so I can eat crow and be happy you beat the odds.