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


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

  #1211 (permalink)
 
dyst's Avatar
 dyst 
Singapore
 
Experience: Intermediate
Platform: NinjaTrader, Sierra, MT4
Trading: ES, CL, NG, XAUUSD, USDJPY
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Topstep View Post
The rumors are true - Sierra Chart is working with Rithmic. We have confirmed with both SC and Rithmic. Sierra is confident that the stability/performance will be much better than the previous setup, and Rithmic confirmed the timing - May at the earliest. We are monitoring and will likely re-add once they are done with their work, and we have had the opportunity to test the new setup. It probably will not be re-added until H2 2021.

Thank you!

That's good news. I totally dislike rithmic platforms after unfortunate 'accidents' there with other prop firms. Rithmic has too much glitches/hiccups and customer service is poor.

Numbers work... Magic lies in the numbers
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  #1212 (permalink)
 
SBtrader82's Avatar
 SBtrader82   is a Vendor
 
Posts: 587 since Feb 2018
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Did you see the new feature of TopStep? I am so amazed, this is simply wonderful!!!
I have been funded and lost the account a couple of time, but I have never doubted a single moment about the honesty and value of this company.
However today I must say they made a quantum leap in terms of quality!!

I cannot emphasize how much I love the new setup.
Basically we now have a "practice account" which we can reset for free that allow us to practice even if we made some mistake in the account that is being evaluated. For me this is incredibly useful because since it's something "visible" it's more than a sim account that you might have in your own platform and at the same time if allow you to keep trading without risking your TST account.

On top of this they added a feature to create a business plan and to evaluate if you stick to it or not. This is just amazing!!
I am looking forward to be funded again.



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  #1213 (permalink)
 stumbras 
Denver, Colorado
 
Experience: Beginner
Platform: Trdstation Trgview Motiwa
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I am thinking to start new Swing Combine(anybody done it?). I work days thus I always trade after hours - would regular combine work for me?

  #1214 (permalink)
 
awesomizer's Avatar
 awesomizer 
Portage, MI
 
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SBtrader82 View Post
I noticed that nobody commented on the decision of TopStep to make scaling plan easier... this is the email that I received on January 16th.
I think it is another proof that this company is extremely serious. I cannot stress enough how much TopStep has helped me improve my trading style.
Now that you can "forget" about the scaling plan, it becomes even easier to trade, because you will have less stress about making a mistake..... now it's really all about managing risk.


I am currently in a combine using TSTrader and I don’t see the option anywhere to enable max position size. How do you do this?

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  #1215 (permalink)
 
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 SBtrader82   is a Vendor
 
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awesomizer View Post
I am currently in a combine using TSTrader and I don’t see the option anywhere to enable max position size. How do you do this?

You don't have to do anything....if you are using a platform based on Rithmic, the system itself will prevent you from going above the max size.
Be careful because it works 99,99% of the times but there are situations in which the system cannot block you and thus you will break a rule. (Read the disclaimer about this by tst).

For instance if you are with rithmic, you will see that of you cannot buy more than 3 cars if your profit is just 300 usd, and below 2k you cannot buy more than 5 car etc....

Hope this helps
Sb

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  #1216 (permalink)
 
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awesomizer View Post
I am currently in a combine using TSTrader and I don’t see the option anywhere to enable max position size. How do you do this?

Sorry...I just noticed that I didn't read your message in details. You are with TSTtrader, so in this case you're not with Rithmic and this does not apply to you.

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  #1217 (permalink)
 
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 awesomizer 
Portage, MI
 
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Thanks @SBtrader82, considering using the standard Tradovate platform, it is possible to set max position size, I hope Topstep will enable this feature in TSTrader.

  #1218 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
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awesomizer View Post
.....considering using the standard Tradovate platform, it is possible to set max position size, I hope Topstep will enable this feature in TSTrader.

The risk management functions that the Tradovate platform has (max DLL, WLL, number of contracts), aren't in the TSTrader platform. I don't know if that is because they could conflict with the Topstep program risk management system, but whatever the reason, TStrader doesn't have all the option settings of those trading their own Tradovate account.

The maximum contracts in the scaling plan is set automatically and you don't need to do anything, and as mentioned in the email highlighted in your earlier post today, it applies with the TSTrader platform and not just Rithmic.
Also Topstep already gave a grace period of ten seconds to bring your maximum position back inside the permitted maximum number, if you did "fat finger" a trade just in case there is an instance where an extra contract is still allowed to be placed in error.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
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  #1219 (permalink)
 
awesomizer's Avatar
 awesomizer 
Portage, MI
 
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@matthew28

this is the email I received 2 days ago:

states would fail if even for just a few seconds, and since TSTrader doesn’t have the option to set max size I’m not willing to mess up my account to find out if that is true or not.

the way they word the email makes it sound like there is nothing in place to stop you from going over

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  #1220 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
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awesomizer View Post
the way they word the email makes it sound like there is nothing in place to stop you from going over

Check with Topstep then to be on the safe side.
But you are using TSTrader so the scaling plan will be enforced automatically for Combine Step 2 and Pro accounts (and in Step 1 you could never exceed the maximum size anyway as that has always been prevented).

The page related to the Combine scaling plan mentions the 10 second rule at the bottom.
https://help.futures.topstep.com/hc/en-us/articles/360000140787-What-is-the-scaling-plan-

Interestingly the page related specifically to the scaling plan for funded accounts, which mentions the ability to scale up in the future, doesn't talk about the 10 second rule.
https://help.futures.topstep.com/hc/en-us/articles/220389528-What-is-the-scaling-plan-

Maybe the 10 second rule doesn't apply in Funded/Premium Funded accounts but that would seem very strange to remove that protection if trading real money.
Maybe somebody from @Topstep will confirm at some point too.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden

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