So what does the notional value of $122K have to do with any of it?
Topsteptrader
- Thread starter deaddog
- Start date
So what does the notional value of $122K have to do with any of it?
$800?!
It's another one of those "It must be true: I read it at Elitetrader" moments.
People who imagine that $800 is enough to be trading futures at all are not the type that TST wants to fund, I guess, because they clearly don't understand risk-management. I wouldn't want to fund them either, if I were backing people - I'd want my trader assessment methods to exclude them from risking my money.
You and I shouldn't discuss this, David. We don't live on the same planet. Where I live, TST is taking a $2,000 risk on funded traders, and that's just on the most popular Combine - it's up to $4,500 risk on the higher ones.
You will, I'm sure. But I'm also pretty sure it hasn't been very successful experience, if you seriously imagine that $800 is enough to trade futures.
They've actually made it easier (just like they did with the January 2016 changes, which is why they funded more people in 2016 than they'd done in 2015), but you don't see it. These changes come about through member feedback. People (understandably, in my opinion) wanted the FTP and the Combine to have the same parameters. Don't take my word for it: just read this thread and you'll see them openly saying so. TST has also just abolished the "10-day rule", by popular request.
I saw two of my friends (each of whom had some trading skills but no real capital worth talking about, what with their student loans and so on) successfully start off via TST (one is now a full-time futures trader on his own account, and the other a regular, part-time, smaller earner). So my own experience of TST has just been "seeing it work well for others" (and sympathising with TST over some of the appalling misinformation and ridiculous accusations spread around about them in forums!).
The notional value is a side issue, the real issue is the margin. I'v been trading the ES for years and my comfort level is around 5k per contract. Could I achieve the same income from using 2-3k?, sure but that would compromise my comfort level and it's not worth it. 4 or 5 hundred per??...would sooner buy lottery tickets. But don't let me discourage you
Call me conservative, risk-averse, or whatever ... but mine is much higher. I do hear you, though.
Yes, comfort level and trade style. My gains are modest but losses even more so. A major draw down for me is 5 losses in a row at about 6 1/2 ticks per....no big deal.Call me conservative, risk-averse, or whatever ... but mine is much higher. I do hear you, though.
Are we agreed then? Notional value has absolutely nothing to do with trading the actual contract?
I find all your posts quite derogatory
You seem personally offended by the facts I'm highlighting about TST
Perhaps more evidence that you work for TST
$800 is enough margin to trade two contracts of ES with TST's broker
I have been with the same broker as TST for over 10 years
Yes, you need more money that that if you expect to have a larger drawdown, and you always need a minimum of $800 in there if you want to trade at least two contracts.
However given TST has a maximum weekly drawdown of $1000 on there '$50,000$ account. They are not offering a $50,000 account. They are putting at most $1,800 in the account, with only $1000 of that ever at risk
This could be less than people would spend on combine fees
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Unfortunately I live on the same planet as you.
However, I clearly have far more knowledge of the subject matter, and trading in general
On the most popular combine advertised as '$50,000', they do have a maximum drawdown of $2,000. But a trailing weekly drawdown of $1,000 which is more often hit
Either one is a low figure, easily achievable by traders, and potentially less than what traders could spend on combine fees.
Again, don't take this personally.
you seem very offended for someone who claims they have never had anything to do with TST
I'm am merely pointing out the facts and feedback from one of your clients (as you clearly work for TST)
You will, I'm sure. But I'm also pretty sure it hasn't been very successful experience, if you seriously imagine that $800 is enough to trade futures.
I know altering what I say is one way to try and make yourself look clever
However, let's just stick to the facts
I said it's possible to trade 2 lots with $800. That's all
TST never actually offer much more than that, as there maximum drawdown is $2,000, and trailing weekly max drawdown is $1000.
So please let's stop pretending it's a $50,000 account. At very very best it's $2000
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...other than it is the value of the contract. Probably means more to the broker.