Who is the Top Trader at Topstep & similar firms?

[whygodwhy]

Fuck no they aren't hitting the market.

LiveSim is great initially if you can actually trade well and need capital ASAP because you don't have to sign legal docs that get you setup as a professional trader for the firm. Actually trading live capital for someone else is going to take 1+ weeks to setup. Plus, they're going to run background checks and the like to make sure you're not some scumbag about to trade their funds.

LiveSim sucks for taxes because you have a higher tax rate.

LiveSim makes you a shitty trader because you can dump 100 lots across 20 accounts, not move it a tick, and think that your 5 point NQ scalping strategy is going to make you so rich you'll be on the cover of Forbes. Then you go live and your edge is gone.

LiveSim is great if you want to just get paid out of the bucket shop of reset and eval fees that keep these companies afloat. If you can trade and need quick capital, choose a quick payout funding company, you are literally taking the funds out of the kitty that other failed traders put there.

I don't know enough to say for certain that they are taking the other side of your bets. I wouldn't doubt it.

Best case scenario: you are smart, have edge, are newish to trading, need to raise capital now, have no audited track record and no chance of managing OPM, and have a $1,000 or so to run up a few accounts to the funded stage. Play that card for a few months, cash out a few $100,000, throw that in your own account, lease a seat, and go from there. No reason whatsoever to use them long term. If you're shit hot they're going to flag you and get you on live ASAP or tell you to gtfo because you're eating away at their eval/reset gambling income derived from other failed traders. Most of these companies don't like winners, with the exception of TopStep and Apteros, because their goal is to put you on their desk and trade live capital, and their funding model for evals/resets is more to find out who can actually trade and who can't, rather than use that to run their entire operation.

 

[traderjo]

Fuck no they aren't hitting the market.

LiveSim is great initially if you can actually trade well and need capital ASAP because you don't have to sign legal docs that get you setup as a professional trader for the firm. Actually trading live capital for someone else is going to take 1+ weeks to setup. Plus, they're going to run background checks and the like to make sure you're not some scumbag about to trade their funds.

LiveSim sucks for taxes because you have a higher tax rate.

LiveSim makes you a shitty trader because you can dump 100 lots across 20 accounts, not move it a tick, and think that your 5 point NQ scalping strategy is going to make you so rich you'll be on the cover of Forbes. Then you go live and your edge is gone.

LiveSim is great if you want to just get paid out of the bucket shop of reset and eval fees that keep these companies afloat. If you can trade and need quick capital, choose a quick payout funding company, you are literally taking the funds out of the kitty that other failed traders put there.

I don't know enough to say for certain that they are taking the other side of your bets. I wouldn't doubt it.

Best case scenario: you are smart, have edge, are newish to trading, need to raise capital now, have no audited track record and no chance of managing OPM, and have a $1,000 or so to run up a few accounts to the funded stage. Play that card for a few months, cash out a few $100,000, throw that in your own account, lease a seat, and go from there. No reason whatsoever to use them long term. If you're shit hot they're going to flag you and get you on live ASAP or tell you to gtfo because you're eating away at their eval/reset gambling income derived from other failed traders. Most of these companies don't like winners, with the exception of TopStep and Apteros, because their goal is to put you on their desk and trade live capital, and their funding model for evals/resets is more to find out who can actually trade and who can't, rather than use that to run their entire operation.

LiveSim is great if you want to just get paid out of the bucket shop of reset and eval fees that keep these companies afloat. Say no more that is the crux of the matter and if true then hope one day the regulators are going to come down like ton of bricks...

 

[wmwmw]

Fuck no they aren't hitting the market.

LiveSim is great initially if you can actually trade well and need capital ASAP because you don't have to sign legal docs that get you setup as a professional trader for the firm. Actually trading live capital for someone else is going to take 1+ weeks to setup. Plus, they're going to run background checks and the like to make sure you're not some scumbag about to trade their funds.

LiveSim sucks for taxes because you have a higher tax rate.

LiveSim makes you a shitty trader because you can dump 100 lots across 20 accounts, not move it a tick, and think that your 5 point NQ scalping strategy is going to make you so rich you'll be on the cover of Forbes. Then you go live and your edge is gone.

LiveSim is great if you want to just get paid out of the bucket shop of reset and eval fees that keep these companies afloat. If you can trade and need quick capital, choose a quick payout funding company, you are literally taking the funds out of the kitty that other failed traders put there.

I don't know enough to say for certain that they are taking the other side of your bets. I wouldn't doubt it.

Best case scenario: you are smart, have edge, are newish to trading, need to raise capital now, have no audited track record and no chance of managing OPM, and have a $1,000 or so to run up a few accounts to the funded stage. Play that card for a few months, cash out a few $100,000, throw that in your own account, lease a seat, and go from there. No reason whatsoever to use them long term. If you're shit hot they're going to flag you and get you on live ASAP or tell you to gtfo because you're eating away at their eval/reset gambling income derived from other failed traders. Most of these companies don't like winners, with the exception of TopStep and Apteros, because their goal is to put you on their desk and trade live capital, and their funding model for evals/resets is more to find out who can actually trade and who can't, rather than use that to run their entire operation.

Your posts about prop firms are full of ignorances.
That is not surprised as most elite traders users are illiterate on prop firms.
All futures trading prop firms are garbages. That is a common knowledge everywhere except in elitetrader.
1. Trailing drawdown. A trailing drawdown makes it 3 times more likely to blow up your account as compared with a fixed drawdown, which is industry norm.
2. Monthly fee and exchange fee that make them much more expensive than industry norms.
3. Much higher profit target that make their challenges much more difficult to pass.
4. Other rules such as if you withdraw from your funded account your funding is gone. And industry norm is once you pass challenge your fee is refunded. I have not heard any futures prop firm refund fee.
By the way, industry norm is that a sim account mimic a real account in every aspects so if you place a 100 lots order you get higher slippage than you place 1 lot. Apparently you don' t know this that's why you posted incorrect information based on your imagination.

 

[wmwmw]

You know why futures prop firms such as topsteptrader, Apex,earn2rtde recently made huge discounts on their prices? Because their prices had been 10-20 times higher than industry norms.Even after they cut prices, their packages are still not attractive.If you list top 20 prop firms, all the futures prop firms won't be in top 20 list even at their current discount prices.

 

[whygodwhy]

Your posts about prop firms are full of ignorances.
That is not surprised as most elite traders users are illiterate on prop firms.
All futures trading prop firms are garbages. That is a common knowledge everywhere except in elitetrader.
1. Trailing drawdown. A trailing drawdown makes it 3 times more likely to blow up your account as compared with a fixed drawdown, which is industry norm.
2. Monthly fee and exchange fee that make them much more expensive than industry norms.
3. Much higher profit target that make their challenges much more difficult to pass.
4. Other rules such as if you withdraw from your funded account your funding is gone. And industry norm is once you pass challenge your fee is refunded. I have not heard any futures prop firm refund fee.
By the way, industry norm is that a sim account mimic a real account in every aspects so if you place a 100 lots order you get higher slippage than you place 1 lot. Apparently you don' t know this that's why you posted incorrect information based on your imagination.

Before you call someone else ignorant you really need to fact-check your own work. I don't even know where to start correcting this.

You also need to learn how to spellcheck and use proper grammar. I'd sent you a book but I think it would be a waste of time. If you don't know it by now you probably never will. I'm sorry that your schooling has failed you. It must be that dreadful public schooling system in the USA.

 

[whygodwhy]

LiveSim is great if you want to just get paid out of the bucket shop of reset and eval fees that keep these companies afloat. Say no more that is the crux of the matter and if true then hope one day the regulators are going to come down like ton of bricks...

If you're good and can pull money out of the firm, why not do it? Make them bleed.

The problem is most can't trade and then Mr. Regular has to step in to save 90 IQ Jimmy from himself.

 

[oshjdf]

Apteros Trading

Do you have personal experience with them? Really curious about one thing in their FAQ below. It really turn me off if I need to share my methodology.

"We have an 11am/ET meeting Monday through Thursday, which we will expect your attendance. If you cannot make the meeting, we would need to understand why. We also expect our traders to submit daily reviews of their trading, as well as have a monthly review and goal setting meeting with Merritt."

 

[wmwmw]

Before you call someone else ignorant you really need to fact-check your own work. I don't even know where to start correcting this.

You also need to learn how to spellcheck and use proper grammar. I'd sent you a book but I think it would be a waste of time. If you don't know it by now you probably never will. I'm sorry that your schooling has failed you. It must be that dreadful public schooling system in the USA.

So check your own grammar.

 

[ph1l]

Before you call someone else ignorant you really need to fact-check your own work. I don't even know where to start correcting this.

You also need to learn how to spellcheck and use proper grammar. I'd sent you a book but I think it would be a waste of time. If you don't know it by now you probably never will. I'm sorry that your schooling has failed you. It must be that dreadful public schooling system in the USA.

Addressing the points in @wmwmw's post would be more effective than an ad hominem attack.

You also need to learn how to spellcheck and use proper grammar. I'd sent you a book but I think it would be a waste of time.

However, you make cents and did not waist anybody's thyme criticizing Grammer.

 

[traderjo]

By now at least 100k+ traders must have tried out for Topstep and many similar firms.
Yet strangely no stories about guys making 1mill or 10mill a year.
Just by chance surely there must be 1 guy out there.
Perhaps top talent gets picked off by hedge funds? But this is speculation as there are no stories in this regard as well.
Topstep paid out 1 million in all of 2020. And recently I think 400k/month in withdrawals which is decent but there should be 1 guy doing that much by now.
Perhaps day trading futures is just way too hard compared to stocks. There are lots of stories of day trading success in stocks.
Any thoughts?

Real Prop firms look like this
https://www.cutlerllc.com/careers