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Did anyone notice this strange rule in how the scaling plan is managed by earn2trade? I have been trading for TST for quite a while and I wanted to give it a try with earn2trade. I noticed though that there is this slight difference in how the scaling plan is computed in Earn2trade:
yes, I think at the end of the day it won't be a big problem. In the 150K account they let you trade with up to 4 contracts from day one, which is quite a big number of contracts if you trade minis.
Honestly in my best days I only trade with 3 contracts.
Do you know if they apply some automation to limit mistakes (like fat finger mistakes) in trading size? Topstep normally prevents you to trade bigger than what you are allowed in the scaling plan....it still can happen but most of the time you can forget about this rule because the system will work and block your trades.
I honestly don’t have the slightest clue. In the report i have attached my max drawdown is only like $5500 for the entire combin. At first i read your post as $17.07 and thought what was he talking about. But upon looking a second time it’s definitely $17,079. And right there in the report. I’m not sure how/why that happened.
The real question is if there's anyone who's been funded and taken substantial (or even just modest) money out of the market trading through such a firm. I don't know anyone myself.
I am putting it baldly like this because large statements like "no one" and "never" and "not anyone" are easily made but harder to back up. I have no particular stake in the TST program and don't much care about it. In fact, I think that a better pathway would be to first learn how to trade your own real money in the micros, and then, if successful, see if you wanted to try to increase your trading capital this way (or not, depending on your assessment of what's the best for you.)
I think an accurate statement would be something like, "Specific firms claim to be paying out to traders, and I don't have any information about x firm one way or another." Or, if you do, then whatever that is. This would be accurate based on actual information you have, and would be much more valuable. (And yes, I have read your posts about your experiences, and I think they are valuable, regarding the company you wrote about. If you want to generalize from there, that is understandable, but there are limitations on what can be reasonably said without actual experience.)
I have seen posts on the forum from traders who did get funded, and paid, by one company or another, and often then lost the account due to trading losses. This would be a good argument against someone pinning their hopes on TST or any others, as a new trader. Possibly as an experienced trader too. But if you follow as many trading journals here as I have (hundreds? who knows), I can tell you that it really is true that most traders, trading their own money, do not do that well, consistently, over time. I don't think there is any reason to expect it to be different for traders trying a funding company. A company does not have to be underhanded to have a lot of traders not succeed -- they just have to have perfectly normal traders who do, on average, what traders typically do... which is, a small number succeed (and typically don't talk a lot about it), and a larger number do not.
I'm not making any statement about whether it's a good idea to give any such company a try. I'm just saying that either TST is outright lying (which frankly I do not believe, but everyone can have their opinion), or they are in fact doing what they say they are. At least for some traders, some of the time, which is my only point.
Whether it's a good idea for any one person is another matter. Since I don't know, I can't say.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I could have been more accurate in what I wrote. What I meant specifically was if there was anyone who's taken out substantial sums of money from these firms. I also know there are people who've taken out some smaller sums.
As for TST - wasn't there just a thread where the claim was that they did not pay out someone who was eligible to be?
Yes, there was, and they were universally, and justly, condemned for it, at least in that thread. They retroactively applied a rule to deny someone payment they had coming under the rules at the time, a very bad thing in my view.
Incidentally, they have also dropped that rule in their latest rule change -- it had something to do with how long you had to hold your average winning trades. I don't know why they changed, but I imagine it was not too popular and they felt they had to pull it back.
But the thread you mention is exactly what I'm talking about. Vendors need to be held to account publicly when they are wrong, based on actual user experience, so informed decisions can be made by traders.
I appreciate your restatement, by the way. I agree that we don't know if there have been many (or any) substantial individual withdrawals, or individuals being successful over time or not.
My guess is, not that many. Aside from the fact that it is hard to stay a consistent winner for long in trading, at some point a successful trader probably would get tired of splitting the profits and would take the money and go. Another subject for discussion, though.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I got funded by TST but blew the account in less than a month. It's not a bad deal.
I also tried OneUp - a firm I would NOT recommend. Their cost structure is much more expensive as the monthly fees do NOT give you a reset. So every time you blow their limits, it's a $100 to continue no matter if you have a monthly charge coming up or not.
