Topsteptrader

ScalperJoe said:
Well that's true, stocks can gap up or down on news, whereas the futures will continue trading throughout the Globex session. The ES recently hit the 5% "limit down" threshold but it wasn't a gap, since it traded down to the halt, before resuming and rallying back up. Some futures markets are more volatile than others and could be prone to larger gaps than ES (of course, I'm talking about the price difference between the close and open from one session to the next).

Where would you draw the line on overnights? Since TST allows one to trade multiple products, allowing overnights requires different margin balances than day trade margin. So you'd have to propose the backers take on that risk as well.
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Simple...Use the CME-required margins. That is what they require of the FCM, so that is what the FCM requires of the trader.
 
ScalperJoe said:
...Some futures markets are more volatile than others and could be prone to larger gaps than ES (of course, I'm talking about the price difference between the close and open from one session to the next)...
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Regarding that, I'll send you some screenshots next week in PM and discuss it further there. There must be something I am missing here.
 
Overnight said:
If they would just relax (and tighten at the same time) their rules, I could make them good money with a 100K or 150K account. The relaxation rule would be overnights. The restriction rule would be one contract only. It would protect them, it would protect me, it would be a win-win.

I'd love to give that a try. Alas TST is what it is.
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100K or 150K account? That means no leverage, right? Just curious what is your average annual return?
 
Overnight said:
Simple...Use the CME-required margins. That is what they require of the FCM, so that is what the FCM requires of the trader.
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But wait a minute! The trader isn't putting up any margin in the backed account. So the entire TST model would have to change, whereby the backer is now willing to place the excess capital that CME requires for overnight margin PLUS take on the risk of any potential adverse event. I can see it working on a hedge fund model where a trader is on salary, trades from an office, and the firm has in-house risk management in place. However, TST isn't structured that way, since you're trading as an independent contractor with 1099 income, and trading remotely.
 
We just wanted to update the ELITETRADER community that we have launched an exciting new website and more importantly, back-end infrastructure this week.

What does this mean for you?
  • Easier front-end website navigation
  • More informative and accessible dashboard
  • New comprehensive Trade Reports and tools
  • Ability to quickly launch new features and benefits

In addition to these positive changes, many of our platform partners have updated their connection instructions to include a TopstepTrader specific option. This is most evident in the drop down box while selecting your data feed.

We appreciate everyone's patience as we migrate to this new system and are extremely excited for all of the new features and functionality this is going to give our users in the future! If you have any questions, please contact TopstepTrader Support at 888-407-1611 or support@topsteptrader.com

Trade well,

TopstepTrader Team
 
TopstepTrader said:
We just wanted to update the ELITETRADER community that we have launched an exciting new website and more importantly, back-end infrastructure this week.

What does this mean for you?
  • Easier front-end website navigation
  • More informative and accessible dashboard
  • New comprehensive Trade Reports and tools
  • Ability to quickly launch new features and benefits

In addition to these positive changes, many of our platform partners have updated their connection instructions to include a TopstepTrader specific option. This is most evident in the drop down box while selecting your data feed.

We appreciate everyone's patience as we migrate to this new system and are extremely excited for all of the new features and functionality this is going to give our users in the future! If you have any questions, please contact TopstepTrader Support at 888-407-1611 or support@topsteptrader.com

Trade well,

TopstepTrader Team
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Thank you.

Although, i am not funded yet. I am enjoying the service.
 
ScalperJoe said:
TST provides both funding for the margin requirements as per the "scale up" rules AND maximum drawdown allowances for the first ten trading days in the live account. These do not have to be consecutive calendar days, just ten days in the aggregate.

On day 11, TST only provides funding for the margin requirements of the total lot sizes as defined by the "scale up" rules.

All live traders start with a "zero" starting equity balance. Only those with positive equity balances on Day 11 can continue trading. Their maximum drawdown amount will equal their equity balance. For example, on Day 11 if you are net positive equity of $500, then you will have $500 maximum to lose before being sent back to combine, etc.

Therefore, the "10 day rule" is the most important rule of the LIVE account, since only those with enough positive equity balances have a chance of growing the account and taking checks.
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Thank you for your explanation.

I have just done the combine. 100k - unfortunetely. If I had informed me better about the following costs for the databundles I would have chosen the 150k. The markets I trade means 85 + 85 + 59 = 229$ p.m. / 2748$ p.a.
--> 1.832 % fixcosts on the 150k
--> 2.784 % fixcosts on the 100k
... Starting trading business with nearly 2% fixcosts (without other things in the budget) is heavy enough. Nearly 3% is already Oooops. The combines under 100k in relations to fixcosts nearly senseless.
Other theme.

Now I am in the Funded Trader Preparation.
And only by visiting boards like this and reading your quoted comment I understand that TST is getting ALL riskmoney out after 10 trading days in the funded account.
This is hard - and not very realistic for trading.
A MaxDD of 3% ist hard enough.
I can live with this.
But any wonderful good strategy can make a trader sure to get 3% in 10 Tradingdays.
Every result under the 3% after the first ten days makes the trading to a luck-gaming/gambling.
Realistically every account which has not the result of + 3% after only 10 trading days has to pray for special luck parameters from day 11 on.

I could live with TST getting ALL risk money out - but in a realistic timeframe.
AT LEAST 20 Days. Really fair would only be 30-40 days I think.

Until now I was really enjoying the TST service!

The 6% trading goal in the combine I have made in the first two days ( - I wanted to have nice days after then in the end of the years and their celebrations).
BUT: This is only possible by using very hard leverage and having a good wave.

For the day 11 in the funded account there is no realistic strategy to make a good trader sure to reach the only senseful aim of at least 3%.

I will try my best.
But I know already that this is not enough if luck is not with me, too.
Making a DD of 1 or 2 % at first ... and having perhaps only a few days to reach 3% over 0. Wahhh this is awful.
So perhaps I will hold the funded account - if luck is with me. If not, I will fail.

I really would like to see TST making something about 20 to 40 days out of the 10 - this would be realistic parameters.

(Sorry for my broken English - it is not my mother tongue.)
 
whitepaper said:
Thank you for your explanation.

I have just done the combine. 100k - unfortunetely. If I had informed me better about the following costs for the databundles I would have chosen the 150k. The markets I trade means 85 + 85 + 59 = 229$ p.m. / 2748$ p.a.
--> 1.832 % fixcosts on the 150k
--> 2.784 % fixcosts on the 100k
... Starting trading business with nearly 2% fixcosts (without other things in the budget) is heavy enough. Nearly 3% is already Oooops. The combines under 100k in relations to fixcosts nearly senseless.
Other theme.

Now I am in the Funded Trader Preparation.
And only by visiting boards like this and reading your quoted comment I understand that TST is getting ALL riskmoney out after 10 trading days in the funded account.
This is hard - and not very realistic for trading.
A MaxDD of 3% ist hard enough.
I can live with this.
But any wonderful good strategy can make a trader sure to get 3% in 10 Tradingdays.
Every result under the 3% after the first ten days makes the trading to a luck-gaming/gambling.
Realistically every account which has not the result of + 3% after only 10 trading days has to pray for special luck parameters from day 11 on.

I could live with TST getting ALL risk money out - but in a realistic timeframe.
AT LEAST 20 Days. Really fair would only be 30-40 days I think.

Until now I was really enjoying the TST service!

The 6% trading goal in the combine I have made in the first two days ( - I wanted to have nice days after then in the end of the years and their celebrations).
BUT: This is only possible by using very hard leverage and having a good wave.

For the day 11 in the funded account there is no realistic strategy to make a good trader sure to reach the only senseful aim of at least 3%.



I really would like to see TST making something about 20 to 40 days out of the 10 - this would be realistic parameters.

(Sorry for my broken English - it is not my mother tongue.)
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Hello whitepaper,

Congraluations on passing the combine.

I am still in combine after 2 months, due to some mistakes of my own.

Yes, the first 10 days in the funded will be challenging because you have to trade 10 days straight and better hope the markets is heavily trending those 10 days and no mistakes.

20 days would be great.
 
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