Some events/announcement that are not required to be flat also need to be aware of. For eg, jobless claim, CPI.
I had a pretty huge slippage for GC that caused me to break daily limit rule. My stops was set at 15t and 16t, but I got filled over 50t for both lots, more than 10t slippage per lot.
Sleep well, Eat Healthy, Breathe...
The following 2 users say Thank You to mykee for this post:
Thanks for helping clarify @TradingOgre and @matthew28. You summed it all up pretty well. The Weekly Loss Limit is equivalent to the Daily Loss Limit and is factored based on the sum of the total Net P&L in the calendar week. The Weekly Loss Limit rule is eliminated once the Trailing Maximum Drawdown reaches the starting balance. Your leverage is determined by the Trading Combine account size you choose on day one. As you build/lose equity, your buying power will increase/decrease based on your end of day P&L, according to the graphs that featured here. In the Funded Account, once your cumulative profit is greater than $5,000, you can request adjusted risk parameters.
If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
The following 4 users say Thank You to Topstep for this post:
Hey guys, I want to post something that happened to me today. Day one of my step 2 trading combine, using their recommended TSTrader.
I'm short 3 contracts on Crude 150k combine. I click the buy button to close out my position and the mouse is off by 2 millimeters and hits sell. Within less than a second I correct the error. Due to their order buttons being 2 millimeters apart, mistakes like this should happen fairly often, which I'm sure their aware of.
I shoot them a message to let them know that I clicked the wrong button and the order board should show the position was not open for more than 1 second as the buttons are basically touching. I'm informed I broke the scaling plan and I need to start over and pay them more money.
I was going to invest $5,000 and I figured, I should at least practice with that money on Topstep and instead they go and pull some carnival arcade scam. I'm 100% sure there is a reason their buttons basically touch, no other platform is like this. After my experience with them today, I'm probably going to continue this fight outside of the forums because it's wrong and they are taking advantage of people. I won't allow it to happen to anyone else.
I can see if someone broke the scaling plan to try and make more money, but a position open for less than a second shows it was a wrong click. Given online ordering, this is probably fairly common and not detrimental whatsoever as long as it's caught right away. They apparently aren't interested in that and are only interested in stealing people's money, which is what happened to me. Unfortunately, I was totally scammed by this company and I pray it doesn't happen to anyone else.
If you still insist on trading with them, which i don't recommend. Use Ninja Trader and not their scam platform that is designed for you to fail.
Thanks Bob. I did bring it up with Nick from TST and he revoked my account.
The other issue, which I didn't address but what I feel is probably more important is that the scaling program is designed to see if a trader can make consistent profits and not pull 15 contracts and get lucky. I agree with the scaling program, it's fair. But, when someone misclicks their mouse and corrects it, in under a second, that's not a issue with not following the plan. When TST decides to take someones money over a simple mouse click, it shows they aren't interested in funding traders but only stealing their money. If they were interested, I'd still have an account and I would correct the issue in the future.
I can also guarantee you, this has probably happened a thousand times in the past and they haven't even attempted to correct it because it's a part of their profit strategy. Any reasonable person would agree after looking at the trading log that it was a misclick and should not have all their money taken from them and kicked off the program.
To address what you stated by the market not being forgiving, the market isn't going to limit down in less than a second. The loss is nearly non existent if anything at all, so that's no excuse to revoke a combine. They have a flawed trading plan designed to steal people's money. This incident today has shown that and it's sad for the other traders that will make the same mistake in the future.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
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Seriously? Here are just a few of your "very helpful" posts that you made in quick succession just to bypass the forum rules and post in this thread.
You created all these within 4 minutes of each other. You just randomly picked threads and hit reply.
Just admit that you made junk posts, just so you could write in the TopstepTrader thread. And you knew what you were doing, despite the very clear warning that says don't write junk posts bypass our rules.
I spent about a month-and-a-half trading the ZN live (10 year US Treasury Note). I stopped at around -$500. It just moved so much slower than I remembered and I was generally only making a few ticks/losing a few with no decent risk/reward and a coin flip …
Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
The following 2 users say Thank You to matthew28 for this post:
Recently a trader in the TST combine broke a Rule. Well, let me let him tell you:
Trader:
"I lost the trading combine because i holded a position at 12:00 the 3 July, noticed too late it was independance day in America.
Was about to hit the profit target for 150k combine step 2 the same day.
Feel stupid"
Michael Patak [Founder of TST]
"[Trader] if what you are saying is accurate... let’s waive this broken rule. Let support know we chatted. This is under the assumption that you are positive and close to your step 2 profit goal. In this rare scenario, someone who is that close to meeting the profit target and slips due to a US holiday trading should be looked differently."
A Classy move Mr. Patak!
Sadly, I did the same thing with OneUp and lost my Combine. A bad mistake but my own fault.
The following 4 users say Thank You to Aragorn for this post:
Wasn't the closing time 12:15? Not sure since i didn't trade myself that day and i didn't check the trading hours.
Well done by TST to waive the broken rule, however i must say i had a similar experience at OneUp and they did waive it for me as well, as a one time offer. Did you contact OneUp to explain your one time mistake?
Yes it was 12:15. Maybe it was the 4th because he did say it was Independence Day. The trader was from another country so he may not have been sure of the exact Closing time on the 3rd.
Yes I did contact @oneuptrader at support@oneup.com and was told by Bruce I was no longer eligible for a funded account.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 50,088 since Jun 2009
Thanks: 32,548 given,
98,574
received
Hi guys,
It is my pleasure to welcome back John Hoagland for our 355th webinar event, on Tuesday, July 30th @ 4:30 PM Eastern US.
The title for the event is "Identifying Crucial Levels", and bullet points include:
- John Hoagland is a Senior Performance Coach @ TopstepTrader and 30-year market veteran
- Review live markets and pinpoint the areas of support and resistance that he regularly shares with his private coaching clients,
- Teach you how you can take these leanings and parlay them to earning a Funded Account,
- Provide a limited-time offer for the futures io audience
I want to open two accounts. One for winning trades, and one for losing (loosing?) trades.
"If we don't loosen up some money, this sucker is going down." -GW Bush, 2008
“Lack of proof that something is true does not prove that it is not true - when you want to believe.” -Humpty Dumpty, 2014
“The greatest shortcoming of the human race is our inability to understand the exponential function.” Prof. Albert Bartlett
The following user says Thank You to Zondor for this post:
From the look of it, probably CTS T4. John Hoagland has used it in the past for market profile. I recall that T4 is pretty expensive. You can go to the CTS website for details, assuming I have gotten it right.
The other charts (bar charts) are "TSTrader," which is actually Tradovate. Never used Tradovate, no ideas about it.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
The following 2 users say Thank You to bobwest for this post:
Thank you for answer @bobwest. About TSTrader I now, but about T4 no. Looks very good, if I correct understand this solution with TPO cost around 60$/mo, but different add-on cost too mach. ( Pricing | CTS)
The following user says Thank You to jonnytrade for this post:
