Topsteptrader

Xela said:
Hundreds of people have received $150k accounts. The amount of money nominally in the funded account isn't really relevant at all, per se, and is a bit "artificial". What actually matters is the scaling plan
More...

Exactly. Unfortunately while the $150K combine allows up to 20 lots ($7.5K capital per lot, which is fair), you're down to 3 lots when you're funded, and need to accumulate profits to unlock a larger size, just like when you're on your own. So apples-to-apples for a $400/month entry fee and the constant risk of paying it again if you're bumped, you're going to be allowed to manage a $22.5K allocation of their capital. (Which, if you went on your own, would be $4500-6000 at AMP depending on the contracts, for the same max loss.)

I'm surprised that they can get away with $150K being essentially just a brand name for that level. No oversight for "false advertising" in the USA, perhaps? Or maybe with all the rules and scaling, they're just complex enough that nobody wants to bother. :rolleyes:
 
VPhantom said:
I'm surprised that they can get away with $150K being essentially just a brand name for that level.
More...


I agree. I've always thought the nomenclature there, somehow, isn't quite right. I see that it's simple, and that perhaps it avoids longwinded and complicated explanations of a situation which is already necessarily complicated enough, but I've often thought that strictly speaking they should perhaps call it a "nominal $150k account" rather than just a "$150k account", or something similar.
 
Xela said:
I agree. I've always thought the nomenclature there, somehow, isn't quite right. I see that it's simple, and that perhaps it avoids longwinded and complicated explanations of a situation which is already necessarily complicated enough, but I've often thought that strictly speaking they should perhaps call it a "nominal $150k account" rather than just a "$150k account", or something similar.
More...


"...they should perhaps call it a "nominal $150k account" rather than just a "$150k account", or something similar."

Since the values don't correlate with the actual account value, how about just keeping it simple: Combine Level 1 through 5.

They could refer to the smallest three as "training combines" and the biggest two as "trading combines" since those are the only two that have the highest probability that you will keep the live account long enough to handle the draws, build size and take a check.
 
Since this is Sunday and Valentine's day, let's share some love and a heart warming story with you guys about TST and all the good they are doing to help the little guy. This is from Emmett (quoted earlier), get your handkerchief ready, you gonna need it:

"One guy I spoke with had spent nearly his entire life living in a small town with very limited economic opportunities. He is married and has four kids to feed. His day job is changing tires on industrial vehicles. Every single penny that he earns on his day job goes towards feeding those kids. There was simply no way that he would of been able to raise thousands of dollars to try his hand at futures speculation.

However, he never gave up hope. He read every single book on technical analysis that he could get his hands on. He even self taught himself statistics and learned to program basic strategies. He poured his life into learning the markets, but he had no money to trade. After he found TopStepTrader, he took a chance and maxed out his credit cards for the chance at the combine. Finally, after three months of failure, he managed to pass and became a funded trader.

When he explained to me how he felt about passing and becoming a funded trader, it literally brought tears to my eyes. Here was a guy stuck in a small town, middle aged and going nowhere. But this stupid combine had literally changed his life. How has it changed his life? Well, his goals are actually pretty modest. While you and I are probably thinking about a new Ferrari and living in Hawaii, this guy just wanted to be able to earn enough money so that he could keep the air conditioner on ALL summer.

And he wanted the extra money so that his daughters would no longer have to share clothing. He wanted to feed them better food. I was amazed at what he was telling me. What is even crazier is that every morning before he heads off to his day job, he first stops at the local library which has the fastest internet in town and with his cheap laptop computer, he gets onto that trading screen and attempts to grind out profits. On one day in particular, the library was closed, and so he sat out in the parking lot of the library with his laptop.

He managed to earn $300 in an hour. Which is twice what he earns in a single day, working labor, full time. Very inspiring what even the most modest person can achieve when opportunity meets preparation."

[wiping my eyes]

Happy Valentine's Day to everyone!!!
 
"To date, this will be only the second private party that I have allowed to advertise on my site. The first would be Google, and you can see those Google ads interspersed throughout the site. I have no control over the Google ads. The second advertiser will now be TopStepTrader"
 
Hundreds of people have received $150k accounts. The amount of money nominally in the funded account isn't really relevant at all, per se, and is a bit "artificial". What actually matters is the scaling plan (i.e. maximum number of lots one's permitted to trade) and that's explained here.
More...

"Hundreds" have been funded however I'm not sure of the percentage of how many passed with 150k combines. Yes, what matters IS the scaling plan. This is what has been discussed extensively on this thread, yet so many still revert to the combine as the holy grail. To maximize the probability of utilizing the scaling plan, one must have enough EQUITY to take a draw during the scale up process. This is why if one is really serious about TST, then the only combines that make sense for building equity during the first 10 days in the live account are the 100k/150k, since on day 11 it's your equity that determines your draw. If your draw allowance is too small, then the probability of building equity (and hence utilizing the scaling plan is rendered moot).

From TST's rules regarding scaling: "Once you reach an increase in buying power or adjusted risk parameters, it will not decrease if you make a withdrawal or if your balance decreases."

The above statement is key. This is where a trader can optimize the value of a TST live account, since you can continue increasing your lot size without increasing your equity cushion. In your own funded account, the exact opposite is true. More lot size equals more day trade margin. Since TST provides the day trade margin, scaling up size as you become profitable while keeping limited equity in the account is truly the definition of a "funded account."

The only area of uncertainty is whether or not they will allow a profitable trader to continue trading if they develop consistency and then fall below the "$0" starting balance. The current rules suggest they won't, however it's subjective to the decisions of the backer.

Comparing a 20 lot retail crude account with AMP vs. TST, it would require $20,000 in day trade capital with AMP, whereas TST is providing the capital. I stated this awhile back that a trader has to justify giving up the 20% haircut, and the only way is to continue scaling up while using much less equity as required by a retail account.
 
Last edited:
10k combine, that one trade I lost turned and came back into profit, but was pushing the max loss per day. The entries have to be precise otherwise risk is high you end up hitting the 300 loss mark. 6 points is the daily loss limit.

DAY 1: The trend was up throughout the day, only one sided trades (longs) should have been taken.


10Kcombine.png
 
Last edited:
just so rules aren't violated for overnight trading, I think it says its okay to trade the night session but need to close out positions before session ends.
 
You must log in or register to reply here.
Back
Top