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Anybody heard of topsteptrader (review)
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Anybody heard of topsteptrader (review)

  #291 (permalink)
Market Wizard
Columbus, OH
 
Futures Experience: None
Platform: NT 8, TOS
Favorite Futures: ES
 
Silvester17's Avatar
 
Posts: 3,326 since Aug 2009
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lancelottrader View Post
I was curious about this program, even though I already trade a decent sized account. I am pretty confident i could meet the profit objectives . However, the subjective criteria such as "time in a winning trade versus a time in a losing trade" is something I'm not comfortable with. It seems to exist to give reasons to reject someone even if they prove to be consistently profitable. What if I catch some explosive moves in CL that yield 50 ticks in a couple of minutes? That happens frequently and I often score those moves as anyone who has followed my thread can attest to. Sometimes I take slower moving trades that might remain 5 or 6 ticks down for a long period of time before finally going on to hit their target..or hit my stop. So I don't see the duration of time in regards to whether one is negative or positive in a trade to be of any importance whatsoever.
The only objective criteria, in my opinion is whether you meet the profit objectives and simultaneously adhere to the drawdown requirements.

@lancelottrader,

exactly. glad to see I'm not the only one.

and here's another example why that kind of statistic is pointless. you're long, going for 3 points and stop is 1 point. market is moving slowly, you're up 5 ticks and didn't have to take any heat so far. 10 minutes later you're still positive. now something bad happens. the market drops 2 points in a minute and stops you out.

so now you have a losing trade with a duration of 11 minutes. but in fact you were in a winning trade for 10 minutes and a losing trade for 1 minute. hope I'm making sense here.

I might look at the average duration of a trade, but never for a winning / losing trade.


Last edited by Silvester17; October 25th, 2012 at 08:29 PM.
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  #292 (permalink)
Elite Member
Lehrte, Germany
 
Futures Experience: Advanced
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tderrick View Post
Hey... another TST guy...

Nice to have a TST presence here at the futures.io (formerly BMT). Thanks @mfootlick

@tderrick
This guy is more of a girl...but anyway, thanks for the info, Melissa.

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  #293 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
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Daytrader999 View Post
@tderrick
This guy is more of a girl...but anyway, thanks for the info, Melissa.


oops...

well, I certainly won't forget that now...

Sorry, Melissa / @mfootlick and pleased to meet you

I know your company is a business fore most, but I believe it also provides a wonderful
service also. Keep up the great work


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #294 (permalink)
Elite Member
Keller, TX USA
 
Futures Experience: Intermediate
Platform: Tradestation, NinjaTrader
Favorite Futures: YM, ES, CL
 
Posts: 36 since Sep 2010
Thanks: 1 given, 25 received

I posted in the Bontrade vendor thread that they offer a program that sounds very similar, if not identical - maybe they refer you to TST.

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  #295 (permalink)
Market Wizard
Columbus, OH
 
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aircal View Post
I posted in the Bontrade vendor thread that they offer a program that sounds very similar, if not identical - maybe they refer you to TST.

I wouldn't be surprised if this kind of program is growing really fast and popping up everywhere.

interesting business model and risk free.

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  #296 (permalink)
Elite Member
Nashville, Tennessee
 
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Silvester17 View Post
I wouldn't be surprised if this kind of program is growing really fast and popping up everywhere.

interesting business model and risk free.


I'm telling ya... we should start one here at futures.io (formerly BMT)... just saying


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #297 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, Illinois
 
Futures Experience: Beginner
Platform: T4
Favorite Futures: Futures
 
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aircal View Post
I posted in the Bontrade vendor thread that they offer a program that sounds very similar, if not identical - maybe they refer you to TST.

aircal,

Bontrade has partnered with TopstepTrader to send their members through our program.

Melissa

If you have any questions about TopstepTrader please send me a Private Message or contact us at info@topsteptrader.com or 312.252.9490.
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  #298 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, Illinois
 
Futures Experience: Beginner
Platform: T4
Favorite Futures: Futures
 
Posts: 8 since Sep 2012
Thanks: 14 given, 28 received


tderrick View Post
oops...

well, I certainly won't forget that now...

Sorry, Melissa / @mfootlick and pleased to meet you

I know your company is a business fore most, but I believe it also provides a wonderful
service also. Keep up the great work

tderrick,

Thank you for the kind words. It is very encouraging for us hear things like that. It makes all of our hard work over the last 2.5 years worthwhile .

Melissa

If you have any questions about TopstepTrader please send me a Private Message or contact us at info@topsteptrader.com or 312.252.9490.
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  #299 (permalink)
Elite Member
London, UK
 
Futures Experience: Advanced
Platform: Ninjatrader, Tradestation & TWS
Broker/Data: Optimus, Tradestation & IB
Favorite Futures: ES, EURUSD
 
jamiej83's Avatar
 
Posts: 9 since Jun 2010
Thanks: 2 given, 132 received

TST Interviews Market Wizard Linda Raschke

The 1st 2/3 TopStepTrader interviews with Linda Raschke, always good to hear from an articulate 30yr+ vetertan / Market Wizard about mastering the basics -

1/3 - TopstepTrader's Webinar and Q & A Session with Linda Raschke 10-12-12 - YouTube

2/3 - TopstepTrader's Webinar and Q & A Session with Linda Raschke October 26, 2012 - YouTube

Trading is: Having the KNOWLEDGE to know when the odds are in my favour, having the PATIENCE to wait for that moment, then having the DISCIPLINE to handle the trade properly when it goes in my favour and properly when it goes against me
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  #300 (permalink)
Elite Member
San Diego
 
Futures Experience: Intermediate
Platform: Investor R/T, NinjaTrader
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So, after about a year of trying, on-and-off, to pass the TST combine I finally have -- just barely, the target was $3,500 profit. I first started my combine journey with /ES but a friend got me into /CL and I have been trading that exclusively for about 6 months now. I made this combine in particular much harder for myself by taking a couple of big hits near the end, when I should have been more cautious, but my system/method came through with a big overnight setup that got me over the top. I'm posting this because I know people have a lot of questions about what happens next -- as do I -- so I will attempt to address those questions and well as share my post-combine-success-experience.

Lastly, a couple of notes on the additional parameters that must be met: I had one of my largest Avg Win to Avg Loss spreads to date, one of my largest Win Duration to Loss Duration spreads, and strangely it was the first time my Total Win % was under the 45% threshold -- hey, you only need 2 of 3. My methodology evolved for this combine -- and has even evolved since -- so I'm not sure if this new lower Total Win % is par for the course but whatever shows larger returns in the long run I'm down with. Oh, and, I mostly just use Fibs, no indicators, nothing fancy, just Fibs and theory.

HollywoodTrader

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