Topsteptrader

[ScalperJoe]

You can trade 20 cars intraday with a 15K account. And that should be the take away info from all these webinars:

1. After 6 years of existence TST's biggest trader is still using a 15K account.

2. Most of the Live traders end up with a less than 3K cushion/account at the end of their live 10 days.

1. Yes, however that particular trader isn't using any of his own capital to trade the 20 cars intraday, so for him it's a "$0k" account. The only capital is what he keeps in the account to sustain at least his maximum daily draw to avoid going back to the "$0" balance.

2. Of the live traders who generate a positive balance on day 10, the question is this: what percentage of the max trailing draw did they risk per day? Since TST allows for a $4,500 max trailing draw on the 150k live account, this is the metric for measuring the percentage of daily risk. For the 100k combine, it's $3,000.

 

[Jjs]

The combine is not at all easy to pass that's for sure. However, I haven't been trading very long, and ES even less time. It's helped me refine some things when it comes to the risk side of my trading. I've been able to put up better numbers in the past, but often I'd give up a good bit. So this has been excellent training in just attempting to follow rules that will allow more consistency. I don't really expect to be making millions next week, but I expect to improve to my long term goals with years more practice. Whether I trade for TST for 10 days, 2 months, 1 year or 10 years it was worth it. I personally needed the accountability "with someone looking over me", and I got that.

It took me a total of 28 days to complete both combine and ftp.
$30k combine, total gain $2036
86 total trades (3 per day)
Avg gain $205.5
Any loss $59.5
3.45:1 w/l
Win rate 31%
$60.5 a day per lot/ $302.5 a week per lot.

1 melt down day of $480 loss. I lacked discipline on this day, and paid. My second largest losing day was $260. Most losing days were sub $200, with average losing day well below.

Next set of goals

4:1 w/l
35% plus win rate
$500 per week per lot.

 

[volente_00]

The combine is not at all easy to pass that's for sure. However, I haven't been trading very long, and ES even less time. It's helped me refine some things when it comes to the risk side of my trading. I've been able to put up better numbers in the past, but often I'd give up a good bit. So this has been excellent training in just attempting to follow rules that will allow more consistency. I don't really expect to be making millions next week, but I expect to improve to my long term goals with years more practice. Whether I trade for TST for 10 days, 2 months, 1 year or 10 years it was worth it. I personally needed the accountability "with someone looking over me", and I got that.

It took me a total of 28 days to complete both combine and ftp.
$30k combine, total gain $2036
86 total trades (3 per day)
Avg gain $205.5
Any loss $59.5
3.45:1 w/l
Win rate 31%
$60.5 a day per lot/ $302.5 a week per lot.

1 melt down day of $480 loss. I lacked discipline on this day, and paid. My second largest losing day was $260. Most losing days were sub $200, with average losing day well below.

Next set of goals

4:1 w/l
35% plus win rate
$500 per week per lot.

So they got rid of the 50% win rate or better rule ?

 

[Jjs]

I believe it was 50% daily win rate before. Not over all win rate.

 

[Xela]

So they got rid of the 50% win rate or better rule ?

Yes - they got rid of several rules in January, in an attempt to increase the Combine pass-rate - working so far, it seems. (So much for the people who've somehow contrived to imagine that the rules are "designed for people to fail"!).

With funded accounts, the weekly loss limit and trailing max drawdown now apply only for the first 10 days, etc.

 

[Pekelo]

Screw this whole trading business I am signing up to be an affiliate, like chef Morin and OTG:

https://s3.amazonaws.com/topsteptrader-production/AffiliateMaterials/AffiliateTerm&Conditions.pdf

If you ever wondered how much they get, wonder no more, it is $150 per hamster driven toward the wheel, I mean Combine. That also explains why there isn't a $100 combine anymore, that is actually a money loser if the costumer came from an affiliate. Of course most everybody stays for more than 1 combine so eventually everybody makes money, but still...

So affiliation is the name of the game, MES capital also got affiliated with GTR:

http://globaltraderoom.com/get-funded/

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Congrats to Michael Patak for being nominated for best hustler, I mean hopium seller or something like it:

Chicago, IL (May 2, 2016) – Ernst & Young (EY) announced that CEO Michael Patak of TopstepTrader LLC® is a finalist for the EY Entrepreneur Of The Year® 2016 Award in the Midwest, which encompasses Illinois and Wisconsin.

The awards program, which is celebrating its 30th year, recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance, and personal commitment to their businesses and communities. Patak was selected as a finalist by a panel of independent judges. Award winners will be announced at a black-tie celebration on June 15, 2016 at the Navy Pier Grand Ballroom in Chicago.

 

[Loooppy99]

Yes - they got rid of several rules .

With good reason. The competition is hotting up. Call it competition or not there are "Alternatives. A new Forex version just came in to play.

 

[ScalperJoe]

Screw this whole trading business I am signing up to be an affiliate, like chef Morin and OTG:

https://s3.amazonaws.com/topsteptrader-production/AffiliateMaterials/AffiliateTerm&Conditions.pdf

If you ever wondered how much they get, wonder no more, it is $150 per hamster driven toward the wheel, I mean Combine.

Patak deserves the award for marketing. Look, it's no different than Investools. They were charging up to $10,000 for their trading tools and "education courses" whereby traders signed up in droves due to brilliant marketing. They ended up affiliating with Think Or Swim ("TOS") to get access to their traders, and then eventually bought TOS outright. A few years later, TOS was purchased by TD Ameritrade, since the affiliations were already in place. Everyone wants access to traders who spend money, whether it's to open a margin account, or to get education.

Before a trader pays for anything, they need to conduct their own due diligence and determine if the value of the product/service being offered is justified. Otherwise, they will end up being a "hamster driven toward the wheel."

 

[ScalperJoe]

With good reason. The competition is hotting up. Call it competition or not there are "Alternatives. A new Forex version just came in to play.

Since MES was brought up, here is a part of their marketing. They are allowing a $5,000 draw to make the $1,000. Compare it to TST, and determine which model is allowing for a more liberal draw to make the gain.

"Your daily loss limit is $2,000 and your max drawdown is $5,000. Your profit target will be 5-10% per month with the duration being 1 month (20 trading days). Your goal will be to achieve a net positive PnL greater than $1,000"

 

[ScalperJoe]

Yes - they got rid of several rules in January, in an attempt to increase the Combine pass-rate - working so far, it seems. (So much for the people who've somehow contrived to imagine that the rules are "designed for people to fail"!).

With funded accounts, the weekly loss limit and trailing max drawdown now apply only for the first 10 days, etc.

Yes, you are absolutely correct, it's an "attempt to increase the Combine pass-rate."

However, you're also aware that thee combine "pass-rate" is meaningless unless those who pass ALSO make it through the first 10 days of the LIVE account!

And yes, the weekly loss limit and trailing max drawdown apply "only for the first 10 days" but those are the MOST important days of the LIVE account, since those days will determine the EQUITY, which will determine whether or not a trader will continue trading in the LIVE account!