NexusFi: Find Your Edge


Home Menu

 





Topstep's Nick Dolby (Social Media and Community Coordinator) - Ask me Anything (AMA)


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one Topstep with 258 posts (612 thanks)
    2. looks_two bobwest with 121 posts (306 thanks)
    3. looks_3 Big Mike with 49 posts (167 thanks)
    4. looks_4 emini2000 with 36 posts (16 thanks)
      Best Posters
    1. looks_one Big Mike with 3.4 thanks per post
    2. looks_two DarkPoolTrading with 2.8 thanks per post
    3. looks_3 bobwest with 2.5 thanks per post
    4. looks_4 Topstep with 2.4 thanks per post
    1. trending_up 491,891 views
    2. thumb_up 2,123 thanks given
    3. group 387 followers
    1. forum 1,296 posts
    2. attach_file 44 attachments




Closed Thread
 
Search this Thread

Topstep's Nick Dolby (Social Media and Community Coordinator) - Ask me Anything (AMA)

  #1261 (permalink)
 
SodyTexas's Avatar
 SodyTexas 
Austin TX
 
Experience: Advanced
Platform: Ninjatrader, Python, & R
Broker: RJO
Trading: Futures, Spreads
Posts: 421 since Sep 2013
Thanks Given: 117
Thanks Received: 1,085


bobwest View Post
At Nick's request, the title of this thread has been updated from:

TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)

to:
Topstep's Nick Dolby (Social Media and Community Coordinator) - Ask me Anything (AMA)

Bob.

Much better,

Nick welcome to the group. Top Step does provide a service, and I am not totally against it, more the prop industry as a whole.

That said I do have some questions for you.

1st your max trailing drawdown, is that calculated by realized or unrealized pnl?

Sody

"The great Traders have always been humbled by the market early on in their careers creating a deep respect for the market. Until one has this respect indelibly engraved in their makeup, the concept of money management and discipline will never be treated seriously."
Visit my NexusFi Trade Journal

Can you help answer these questions
from other members on NexusFi?
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Better Renko Gaps
The Elite Circle
Are there any eval firms that allow you to sink to your …
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
60 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #1262 (permalink)
 MrTrader 
ITAJAI SC/BRAZIL
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Clear Corretora
Trading: DOLFUT, WINFUT
Posts: 332 since Jun 2014
Thanks Given: 1,314
Thanks Received: 225


Topstep View Post
Hi all!

My name is Nick and I am the new Social Media and Community Coordinator at Topstep. I was very recently apart of the Customer Service team there so if you have called in before there is a good chance we have already spoken! It appears we have not been active in this forum and I look to change that as futures.io is a staple of the trading community. With that being said, I'd be more than happy to answer any questions about program. Also, please remember that Topstep has a fully staffed U.S. based Customer Service team that can answer any questions for you either over the phone or through email, there is never a reason to speculate about the rules, our team would be more than happy to answer any questions. I look forward to being apart of this community and representing Topstep.

Trade well!

Hi,
I would like to know what happens in a scenario like this..
Lets say someone did a Combine and goes thru step 1 and 2...

Well, after a while his/her account is up to 20k and one day some rule has been broken and his/her account is gone.. not able to trade anymore. For the sake of simplicity lets say the account after this has 15k..

Is that scenario possible? and What happens to that balance/profit?

I am really sorry if I could not make myself clear.. english is not my native language.. if you need further clarifications just point out and I will try to explain in other words..
Thank you in advance

  #1263 (permalink)
 
chipwitch's Avatar
 chipwitch 
Nashville, TN
 
Experience: Beginner
Platform: NinjaTrader
Broker: NinjaTrader, Continuum Data
Trading: MES for now... baby steps
Posts: 322 since Feb 2022
Thanks Given: 230
Thanks Received: 631



MrTrader View Post
I am really sorry if I could not make myself clear.. english is not my native language.. if you need further clarifications just point out and I will try to explain in other words..
Thank you in advance

Your English is better than most Americans I know

I understood you perfectly.

Thanked by:
  #1264 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746


SodyTexas View Post
Much better,

Nick welcome to the group. Top Step does provide a service, and I am not totally against it, more the prop industry as a whole.

That said I do have some questions for you.

1st your max trailing drawdown, is that calculated by realized or unrealized pnl?

Sody

Hi Sody,

The Trailing Max Drawdown for the Trading Combine is calculated at the end of the day based on your Net PnL. For example, if you end your trading session up $1,000, then your Trailing Max Drawdown will move up $1,000. If you make $1,000 and then lose $1,000 intraday, your Trailing Max Drawdown will not move at all as your net PnL on the day was $0. For additional information I always recommend visiting our Help Center.

  #1265 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746


MrTrader View Post
Hi,
I would like to know what happens in a scenario like this..
Lets say someone did a Combine and goes thru step 1 and 2...

Well, after a while his/her account is up to 20k and one day some rule has been broken and his/her account is gone.. not able to trade anymore. For the sake of simplicity lets say the account after this has 15k..

Is that scenario possible? and What happens to that balance/profit?

I am really sorry if I could not make myself clear.. english is not my native language.. if you need further clarifications just point out and I will try to explain in other words..
Thank you in advance

In this scenario, any profit you earn in a Funded Account that is above the accounts starting balance you would get to keep.

From our Help Center:

Additional Withdrawal Information
-If a rule is broken in the account, the trader will receive their profits greater than the account’s starting balance.
-If a rule is broken in the account and there are no profits greater than the account's starting balance, no payout will be made.
-If a rule is broken in the Premium Funded Account and the balance is below the account's starting balance, the remaining funds will be forfeited back to Topstep.
-If an account is closed due to 90 days of inactivity or a trader voluntarily requests to close their account, the trader will receive their profits greater than the starting balance.

Great question!

Thanked by:
  #1266 (permalink)
 JacksonHasATorch 
San Francisco, California
 
Experience: Intermediate
Platform: TradingView
Broker: Tradovate
Trading: Futures
Posts: 2 since Feb 2022
Thanks Given: 2
Thanks Received: 1


Topstep View Post
Hi all!

My name is Nick and I am the new Social Media and Community Coordinator at Topstep. I was very recently apart of the Customer Service team there so if you have called in before there is a good chance we have already spoken! It appears we have not been active in this forum and I look to change that as futures.io is a staple of the trading community. With that being said, I'd be more than happy to answer any questions about program. Also, please remember that Topstep has a fully staffed U.S. based Customer Service team that can answer any questions for you either over the phone or through email, there is never a reason to speculate about the rules, our team would be more than happy to answer any questions. I look forward to being apart of this community and representing Topstep.

Trade well!

Hi Nick,

I'm a newer trader looking to start trading with a prop firm soon. Topstep looks interesting. I read through all the FAQ pertaining to the futures Trading Combine and I have a couple questions. Due to absorbing so much information without taking any notes (a lifelong mistake I will regretfully continue to make from time to time), I may be asking some questions that are answered in the FAQ but simply forgot, so apologies in advance.

1.) If I opt to use TradingView as my main platform during the Combine/Funded Account, do I have to pay for the monthly Tradovate connection as well as the TradingView premium subscription needed to make the connection?

2.) Concerning the "2% within a price limit" rule, this means I can still trade after the NYSE and CME halts the market after a price limit? For example, at the start of the trading day, the ES starts collapsing quickly, dropping 7% within the first hour, triggering a price limit. After the 10 minute trading halt, I can begin trading again until the market reaches the next price limit, which is 13%. Repeat for the 20% limit. Asking this question because I wasn't sure if I would break a rule or not if I traded after the 7% limit was reached.

3.) A scenario: In the Premium Funded Account, the account balance starts at $5000. So, if I have 5 winning days, where I won $100 per day, my account balance is $5500 and I'm elligible for a withdrawal. I then decide to withdraw all I can from the account, which should be $2750 (50% of my balance). Could this situation happen exactly as described? I'm mainly trying to understand the Premium Funded Account and TopStep's withdrawal rules.

Thanks for your help,
Jackson

  #1267 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746


JacksonHasATorch View Post
Hi Nick,

I'm a newer trader looking to start trading with a prop firm soon. Topstep looks interesting. I read through all the FAQ pertaining to the futures Trading Combine and I have a couple questions. Due to absorbing so much information without taking any notes (a lifelong mistake I will regretfully continue to make from time to time), I may be asking some questions that are answered in the FAQ but simply forgot, so apologies in advance.

1.) If I opt to use TradingView as my main platform during the Combine/Funded Account, do I have to pay for the monthly Tradovate connection as well as the TradingView premium subscription needed to make the connection?

2.) Concerning the "2% within a price limit" rule, this means I can still trade after the NYSE and CME halts the market after a price limit? For example, at the start of the trading day, the ES starts collapsing quickly, dropping 7% within the first hour, triggering a price limit. After the 10 minute trading halt, I can begin trading again until the market reaches the next price limit, which is 13%. Repeat for the 20% limit. Asking this question because I wasn't sure if I would break a rule or not if I traded after the 7% limit was reached.

3.) A scenario: In the Premium Funded Account, the account balance starts at $5000. So, if I have 5 winning days, where I won $100 per day, my account balance is $5500 and I'm elligible for a withdrawal. I then decide to withdraw all I can from the account, which should be $2750 (50% of my balance). Could this situation happen exactly as described? I'm mainly trying to understand the Premium Funded Account and TopStep's withdrawal rules.

Thanks for your help,
Jackson

Hi Jackson!

I'll respond to your questions in the order that you typed them out:

1. If you use the basic version of TradingView/TSTrader/Tradovate you will not pay any additional fees. The only other fee you could have would be for Funded Account data. For additional information on fees related to being funded I suggest visiting this Help Center article.

2. We ask all traders in a Funded Account to start flattening positions within 2% of the circuit breaker. Whether or not we reopen trading for our Funded Traders is entirely up to the discretion of our risk managers. If volatility is that high I always recommend checking with your risk manager or our social media to receive updates. You can find additional information in our Help Center for the 2% rule.

3. Yes, that is exactly how that would work!

Great questions and enjoy your trading journey!

  #1268 (permalink)
sadago
Melbourne
 
Posts: 26 since Sep 2019
Thanks Given: 74
Thanks Received: 25

Hi,
I been part of topstep program for quite sometime and it's been a great journey. I don't think without topstep i would have reached this far.

Last week, I cleared(?) the step-2 of 50K combine - basically reaching the target of $3000 in 3 days with no single trade/day contributing to more than 40% of profits.

I joined the combine around Sep'21 and there was another rule at that point in time of minimum 10 days of trading. This miminum # of trading has been eliminated 4-5 months back in favor of a consistency rule.

Now, even though i completed the step-2 in 3 days because of this old rule that's stick against my profile but not anywhere in the current terms & condition, i am still not eligible to move forward from step-2 to a pro-account or funded account.

Topstep support says they can't lift that parameter from my account since it is a RISK!!

I see this as a double standard - For an individual who took the combine 2-3 months back, and if had the same trading records as mine then that individual is NOT RISKY to handle funded account(Other people money) !! Just wondering what sort of risk managmeent professionals topstep has?




Screen Shot 2022-04-12 at 7.47.51 am



The actual step-2 rules in the website:
https://help.futures.topstep.com/hc/en-us/articles/360000044028-Trading-Combine-Step-2-Rules-Targets

The consistency rulel from the website:
https://help.futures.topstep.com/hc/en-us/articles/4405772379155

It is not the question of another 7 days of trading. The concern is, the comfort with which organizations apply the rules. They can apply pointing to the website that terms and conditions are updated if it favors or point to the terms and conditions at the time of enrollment. This brings up businesses ethical values IMO. Most importantly, in this transaction, what's your model of risk profiling the potential traders before handing over other people's money?

Hope to hear your opinion beyond the usual story of product design, user migration etc.,
Cheers!!

Thanked by:
  #1269 (permalink)
 
Tymbeline's Avatar
 Tymbeline 
Leeds UK
Market Wizard
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradovate
Trading: MES, MNQ
Frequency: Several times daily
Duration: Minutes
Posts: 644 since Apr 2015
Thanks Given: 2,343
Thanks Received: 1,054


sadago View Post
The concern is, the comfort with which organizations apply the rules.

Exactly so. That's my concern, too.


sadago View Post
This brings up businesses ethical values IMO.

It certainly appears to.

And you'd think that "appearance" would concern Topstep(?).

But apparently not, because ("astonishingly"?) there has still been absolutely no public response from Topstep to the thread linked-to below, which raised an issue pretty directly related to your own.




Thanked by:
  #1270 (permalink)
VirtualMark
Birmingham, United Kingdom
 
Posts: 75 since Jul 2022
Thanks Given: 20
Thanks Received: 65



Tymbeline View Post
Exactly so. That's my concern, too.



It certainly appears to.

And you'd think that "appearance" would concern Topstep(?).

But apparently not, because ("astonishingly"?) there has still been absolutely no public response from Topstep to the thread linked-to below, which raised an issue pretty directly related to your own.

Well that answers my question lol.

I've just joined the forum and read the entirety of that post, just to be shocked at the end when there is no reply at all. So I read this post too, and no reply here either!

So it would seem that Topstep will retrospectively apply a rule to someone who requests a payout several months earlier and not pay them? Yet they can't do the same for someone who has passed the combine sticking to the current rules, instead they make him trade 10 days when that rule is nowhere to be found?

I came here to read more about Topstep after they deleted a valid comment from my on Youtube. I don't trust them at all, it all feels like a "too good to be true" scam.

I made the very valid point that they are advertising "risk free" trading on Youtube, when the fact is that as soon as you pay them you are risking your capital. They have deleted several of my comments on there.

I pointed out that a beginner may take several months to pass, may have to reset dozens of times and end up wasting thousands and still have no funded account, that's certainly not "risk free".

And looking at the $150k account, you would need to earn $27000 of profits before you could make a withdrawal of $4500 and not ruin your account. $9000 twice in the sim, and then $9000 in the funded. If you withdraw before you hit $4500, your drawdown goes to zero and ruins your account as your back would be to a wall. But the point is, if you can make $27000, why aren't you trading your own money?

I'd appreciate Topstep's comments on this, and on the controversial post that they refused to pay someone their legitimate earnings after changing the rules several months after a payout was requested.


Closed Thread



Last Updated on January 31, 2023


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts