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Anybody heard of topsteptrader (review)

  #531 (permalink)

Trading Experience: Intermediate
Platform: metatrader
Favorite Futures: forex
Posts: 22 since Oct 2013
Thanks: 0 given, 31 received

Scalpingtrader View Post
One thing I might want to add:
If you are trading with 10,000$ of your own money, would you drain it all before reconsidering?
Just because @tturner86 states that he won't bother trading futures below 10k per contract, doesn't mean e is actually willing to burn all of that money in the process. 10k is not his actual risk threshold (probably, I am not him) so he might stop and step back after losing 20 or 30% of the account - which is 2-3k.

So if you think of the max DD for the TST program for what it is - a Drawdown-Limit - the numbers may be seen in a different light...

Not intending to tip your opinion in favor if TST, just adding it for completions sake.

Forgive me not quite sure what you mean exactly, are you referring to my comment about "not wanting to lose someone else's money either"?

I've listened to all of the TopStepTrader funded interviews.

Theres about 80 of them up, and its great info for getting a feel for what other traders are thinking in terms of trading strategy and psychology.

On many occasions youll listen to some traders who have taken the combine dozens and dozens of times.

Many of those traders talk as if getting funded was a golden ticket. Some of them even quit jobs to focus on trading so they could get funded by TST.

One trader who throught the combine would be easy, commented that "I should have known it wouldn't be easy, I mean who would give you $150,000 to trade just off P&L alone" (hes alluding to the fact that he did not read the instructions like risk-reward more carefully).

But what he doesnt realize is that no one has given him $150,000. The rest of his account might as well be papermoney. All that matters in terms of money management is what his max drawdown is.

All the interviewed traders say "I need to build up the account and create some cushion". Well if it was that easy, why not just build up your own tiny trading account?

TopStep sounds attractive because we think we are finally getting the opportunity to be properly capitalized so we can trade successfully. But if you think about it a bit more, you realize you are just as under-capitalized as the guy who throws two or three grand into an account and hopes to build it up and live on it.

Last edited by Sufyan; January 31st, 2015 at 07:04 PM.
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