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Anybody heard of topsteptrader (review)


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Anybody heard of topsteptrader (review)

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  #291 (permalink)
Market Wizard
Columbus, OH
 
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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.

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  #292 (permalink)
Market Wizard
Ilsede, Germany
 
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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)
Nashville, Tennessee
 
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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)
Keller, TX USA
 
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Platform: Tradestation, NinjaTrader
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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)
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
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  #297 (permalink)
Chicago, Illinois
 
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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)
Chicago, Illinois
 
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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)
London, UK
 
Experience: Advanced
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Posts: 9 since Jun 2010
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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)
San Diego
 
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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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