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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)

  #211 (permalink)
 
PHXtrader's Avatar
 PHXtrader 
Boston
 
Experience: Intermediate
Platform: Jigsaw
Trading: NQ
Posts: 84 since Apr 2011
Thanks Given: 48
Thanks Received: 76

was there a link through topstep for a 3 month trial of Sierra Charts?

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  #212 (permalink)
 
Chrismind's Avatar
 Chrismind 
Houston, TX/USA
 
Experience: Beginner
Platform: Sierra Chart
Broker: Sierra Charts Data Feed
Trading: Futures
Posts: 68 since May 2013
Thanks Given: 40
Thanks Received: 101


PHXtrader View Post
was there a link through topstep for a 3 month trial of Sierra Charts?

When you sign up for a combine or the free trial, you will see an option for the Sierra Chart trial.

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



PHXtrader View Post
was there a link through topstep for a 3 month trial of Sierra Charts?

PHXtrader- When you sign up for a trial or Combine you will be provided the 3 month trial link. https://www.topstep.com//

mp

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  #214 (permalink)
 
Vincent Vega's Avatar
 Vincent Vega 
Beer Sheva,Israel
 
Experience: Intermediate
Platform: NinjaTrader
Trading: YM
Posts: 178 since Sep 2011
Thanks Given: 49
Thanks Received: 54

Still waiting for good news about NT support with the combine.
We almost in september,whats going on dudes?

“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”--Albert Einstein
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  #215 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746


Vincent Vega View Post
Still waiting for good news about NT support with the combine.
We almost in september,whats going on dudes?

Vincent- We are waiting for the 3rd party to finish GUI type features. Setting up the environment on their end has taken much longer than anticipated. I do apologize for the delay but I can assure you we will have this working soon.

mp

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  #216 (permalink)
 martinbuch 
NUREMBERG BAYERN
 
Experience: Beginner
Platform: Sierra Chart
Trading: FGBL, DAX
Posts: 5 since May 2013
Thanks Given: 4
Thanks Received: 4

Any news on making EUREX products available for the combine?

Thanks,
Martin

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  #217 (permalink)
 
DarkPoolTrading's Avatar
 DarkPoolTrading   is a Vendor
 
Posts: 1,036 since May 2012
Thanks Given: 1,244
Thanks Received: 1,326

Just a few comments regarding the new rule changes:

Make sure you do the maths behind every rule change. Don't just take emails like this at face value thinking it 'sounds good' or makes things easier.

Case in point, one of the new rule changes is to implement the minimum balance clause detailed here

In summary, your maximum drawdown trails your maximum end of day account balance until such time as you've reached your maximum drawdown in profits. Only then do you start building more of a cushion. eg:

In a 50k combine your maximum drawdown is $2000. Under the current rules if you were to end day 1 of trading up $1000 your balance would be $51 000. You then have a 'cushion' of $3000 until you reach your max drawdown. ie: $51 000 - $3000 = $48 000

Under the proposed rules, in the same combine after being up $1000 at the end of a day your balance would still be $51000. BUT,..your minimum now trails your max balance and remains at the original $2000. Meaning that your new maximum drawdown is now $51000 - $2000 = $49000. This continues until such time as you've made more than your max drawdown in profits.

What this results in, is essentially instead of being able to build a 'cushion' straight away by moving away from your max drawdown. You actually remain extremely close to your max drawdown until you've made that amount in profits. Only then do you start building a cushion.

Another recent example of where most traders seemed to take rule changes at face value instead of doing the maths behind it was the change from a 'minimum number of days' format to a discreet format, eg:

Using a 50k 20day combine as an example, under the previous rules you had to trade a minimum of 20 trading days in a 60 calendar day period. In 60 trading days there are typically +-42 trading days. The profit target was $5000. So you had 42 trading days to make $5000. An average of 5000 / 42 = $119 per day.

Under the current rules since the change to a discreet format, you only get 20 trading days in a 60 calendar day period (ie: not a minimum of 20 trading days, but a discreet amount). Using the same 50k 20 day combine example, the profit is now $3500. Most traders seemed to think this was great because they took it at face value. Do the maths. An average of $3500 / 20 days = $175 per day is now required.

Both the prior rule change and this one are making the combine incrementally more difficult (and in my opinion more removed from simulating a live trading environment. The rules should better simulate live trading which was the case a few months ago - but that's another discussion). Do the maths on all rule changes.

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  #218 (permalink)
 fourtiwinks 
Singapore
 
Experience: Beginner
Posts: 206 since Jun 2011
Thanks Given: 526
Thanks Received: 201

Thanks very much to DPT for the insights to the changes. What a shame that TST is deviating from its goals and stacking odds against traders from qualifying. Hope it doesn't turn into a scam one day..

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

Guys I am here for any questions.

Darkpool to answer your question. Doing the math or not we are looking for traders to produce. We are NOT stacking the odds against you. The Combine allows us to find those traders. It also allows those to develop who are not able to "naturally" meet the profit target. You should never force it. If you are forcing it you are not focusing on your trading. You are focusing on the profit target which is only PART of the objective. The Combine Objective is to "Follow the Rules" (which are basics fundamental rules that traders should have in their trading plan) and meet or exceed the profit target. If you didn't hit the profit you but met the rules you are rolling over or moving on in your life at no cost. Traders develop by being in the market this is helping them develop.

We could pick apart every little detail and miss the fact that this opportunity is to help us find traders and help others create, test, and prove their trading strategy, without risking REAL trading capital. That is our offer. There is incredible talent out there that does not have the chance to develop properly or showcase themselves in front of anyone that is able to help them move them forward. We are a solution and an available option for these traders.

mp

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



fourtiwinks View Post
Thanks very much to DPT for the insights to the changes. What a shame that TST is deviating from its goals and stacking odds against traders from qualifying. Hope it doesn't turn into a scam one day..

fourtiwinks- We have made changes to the Combine multiple times since starting the firm 3 years ago. We work with our data, our equity partner and many educators that partner with us and come on our broadcast to make any necessary tweaks or changes to the program.

We have more traders than ever coming up to the funded level and more Juniors graduating to Seniors as well. We will always look to make changes that best fit all parties while helping traders develop.

mp

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