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Anybody heard of topsteptrader (review)


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Anybody heard of topsteptrader (review)

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  #181 (permalink)
Nashville, Tennessee
 
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futuretrader View Post
I thought TF was an allowed instrument, but I can't see it on their list now. Has anyone tried trading it with them? Seems an odd one to cut out, since it's liquid enough.

Oh crap....

I better test my system in CL ...
Not a bad idea anyway


AJ
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  #182 (permalink)
Nashville, Tennessee
 
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futuretrader View Post
I thought TF was an allowed instrument, but I can't see it on their list now. Has anyone tried trading it with them? Seems an odd one to cut out, since it's liquid enough.


I watch the DOM a lot in TF and the spread does get a little nutty at times.... I know they frown upon this.


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  #183 (permalink)
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
 
Posts: 1,091 since May 2010


Crude is a great market ...


tderrick View Post
I watch the DOM a lot in TF and the spread does get a little nutty at times.... I know they frown upon this.


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  #184 (permalink)
Tulsa, OK
 
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futuretrader View Post
I thought TF was an allowed instrument, but I can't see it on their list now. Has anyone tried trading it with them? Seems an odd one to cut out, since it's liquid enough.

TF is not currently on the list of Permissible Trading Products. TST is a CME partner so they only allow CME products for now. They have plans on expanding the list, but haven't heard any timeframes.

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  #185 (permalink)
British Columbia
 
Experience: Advanced
Platform: NINJA
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Trading: Crude
 
Posts: 1,091 since May 2010

ICE and EUREX exchanges were dropped a few months back. It would be great to see them reintroduced as it's a great advantage to see the world oil benchmark, brent, when trading wti.


omni72 View Post
TF is not currently on the list of Permissible Trading Products. TST is a CME partner so they only allow CME products for now. They have plans on expanding the list, but haven't heard any timeframes.


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  #186 (permalink)
Market Wizard
Boca Raton
 
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Just watched the webinar with John and Mike from TST. Honestly, one of the better webinars about discipline and the aspects of psychology.

First, despite their experience in the markets they didn't portray them selves as some elitists rather spoke sincerely of how they themselves try day to day to improve. Secondly, john said something so profound that should really resonate amongst trader and that is developing a trading plan that you can measure you discipline against.
Why is this important? Because some trader think that developing a discipline is some isolated matter and not part of something bigger. Discipline in my honest opinion is a variable in the context of things.

The second thing that I liked about it was the fact that they admitted that they have a Psychologist they work with to help their traders. I see way too many educators trying to help traders but the end result is just criticism of "you too greedy", "you don't know how to cut your losses", etc which essentially are just general criticisms that go nowhere.
TST recognizes that a qualified person can dig further to realize the scope and issue of the program.

M

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  #187 (permalink)
Como Italy
 
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tderrick View Post
Oh crap....

I better test my system in CL ...
Not a bad idea anyway

I think I'd go back to 6E, though my method has changed quite a bit since I last traded it. CL seems pretty wild for keeping within their risk parameters every day.

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  #188 (permalink)
New York, NY
 
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It says the equity partner will absorb all losses below the initital account balance, but in reality how does this work? I am sure they would quickly cut their losses and take you off live as you eat into your cushion and approach/go below initial account balance? How much of a drawdown is allowed before you are removed from live trading?

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  #189 (permalink)
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
 
Posts: 1,091 since May 2010

They control your losses, there is a formula, they will not let you you burn up cash outside of predetermined risk limits. If you can pass the combine it shouldn't be a problem to stay inside those limits and move the ball down the field. It does take a long time to learn and will not happen overnight. Most of the live traders that I know personally were in the combine for more than one year before getting it, most closer to two years, not including the time they spent trading on their own. Focus on a plan for surviving the time it takes to learn the game before worrying about hitting the field live.


Futures Operator View Post
It says the equity partner will absorb all losses below the initital account balance, but in reality how does this work? I am sure they would quickly cut their losses and take you off live as you eat into your cushion and approach/go below initial account balance? How much of a drawdown is allowed before you are removed from live trading?


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  #190 (permalink)
New York, NY
 
Experience: Intermediate
Platform: Sierra Chart, thinkorswim
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syxforex View Post
They control your losses, there is a formula, they will not let you you burn up cash outside of predetermined risk limits. If you can pass the combine it shouldn't be a problem to stay inside those limits and move the ball down the field. It does take a long time to learn and will not happen overnight. Most of the live traders that I know personally were in the combine for more than one year before getting it, most closer to two years, not including the time they spent trading on their own. Focus on a plan for surviving the time it takes to learn the game before worrying about hitting the field live.

This is true, but if this is to be a source of income, the fine points, risks and limitations should be clear and a trader should be well aware of them in advance, to make sure they are in line with his method/psychology/risk management plan, etc.

BTW, how many live traders do you know there/how many are there at TST?

Once live, is a trader considered 'employed' by them? How are taxes handled, before/after split?

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