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Anybody heard of topsteptrader (review)


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Anybody heard of topsteptrader (review)

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  #431 (permalink)
 Daytrader999 
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PandaWarrior View Post
Yeah, the ten day is not the optimum option to be sure.

Yep, IMO it's not only the profit objective which is harder to accomplish (because you need to make more profit on average each day) but it will also reduce your options and put more pressure on you if you're forced to trade only a small timeframe of the day (perhaps because of having a regular day job) as well.

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  #432 (permalink)
 Scalpingtrader 
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PandaWarrior View Post
Yeah, the ten day is not the optimum option to be sure.

tbh I don't see a sound reasoning behind it - for my understanding every more or less experienced trader would go for the 20 day as it considerably smoothes the role that luck plays in the equation and furthermore reduces the return you have to achieve by 50% - on a relative per day / per trade basis.

So imo the only reasonable measure would've been to cancel the 10 day version or to take the golden middle and have all combines at 15 trading days at least..

My 2centd

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  #433 (permalink)
 PandaWarrior 
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Daytrader999 View Post
Yep, IMO it's not only the profit objective which is harder to accomplish (because you need to make more profit on average each day) but it will also reduce your options and put more pressure on you if you're forced to trade only a small timeframe of the day (perhaps because of having a regular day job) as well.

To me, if you are in the CST or earlier time zones, it will get pretty dicey if you have a 9-5 job. For those of us in the PST or later time zones, no worries. You can trade in the AM and still make your day job if you have one.

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  #434 (permalink)
 Daytrader999 
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Scalpingtrader View Post
tbh I don't see a sound reasoning behind it - for my understanding every more or less experienced trader would go for the 20 day as it considerably smoothes the role that luck plays in the equation and furthermore reduces the return you have to achieve by 50% - on a relative per day / per trade basis.

I agree, maybe they will adjust the profit objective accordingly...but I'm sure that MP will shed some light on why TST decided to proceed that way...

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  #435 (permalink)
 Daytrader999 
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PandaWarrior View Post
To me, if you are in the CST or earlier time zones, it will get pretty dicey if you have a 9-5 job. For those of us in the PST or later time zones, no worries. You can trade in the AM and still make your day job if you have one.

I agree as well, but for me who lives in European time zone there's always only about 2.5 hours of the US afternoon session for the indices and only 1 hour of the Crude Oil pit session left...

So I'm lucky because I already took 2 Combines, so I'm still going to have the 20 Day option at least for me...

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  #436 (permalink)
 PandaWarrior 
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All this being said, you can still pass the combine scalping with a few contracts if you do the $50K one. I prefer the 30K for many reasons but even then, you can do two lots and scalp a 8-10 ticks every day and make the profit objective.

The problem is the same as always, sticking to your trading model, maintaining discipline and not over trading. If the parameters are more difficult, the trader must adapt. Its no different than adapting to changing market conditions. You just have to figure out how you will approach the new conditions and work that plan. At least with TST, they tell you the conditions are changing before they actually do. The market has no such mercy

To for instance, there was about 20-30 ticks available in the last hour or so of the trading session. It was slow to be sure but available.

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  #437 (permalink)
 Scalpingtrader 
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Daytrader999 View Post
I agree, maybe they will adjust the profit objective accordingly...but I'm sure that MP will shed some light on why TST decided to proceed that way...

fwiw it doesnt even make sense from Pataks point of view - the risk of actually getting lucky and "cheating" ones way into a funded account is WAY higher within a 10 day period. If the combines for their initial purpose really are meant to be a recruiting tool, this doesnt quite match in my mind...

anyhow, their game, their rules (by which I most probably wouldnt start a combine - lucky me I started a 20 day this month already )

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  #438 (permalink)
 Daytrader999 
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PandaWarrior View Post
All this being said, you can still pass the combine scalping with a few contracts if you do the $50K one. I prefer the 30K for many reasons but even then, you can do two lots and scalp a 8-10 ticks every day and make the profit objective.

The problem is the same as always, sticking to your trading model, maintaining discipline and not over trading. If the parameters are more difficult, the trader must adapt. Its no different than adapting to changing market conditions. You just have to figure out how you will approach the new conditions and work that plan.

To for instance, there was about 20-30 ticks available in the last hour or so of the trading session. It was slow to be sure but available.

Agreed, although the market (NQ) tended to behave like watching paint dry during the last days in the afternoon sessions.


Quoting 
At least with TST, they tell you the conditions are changing before they actually do. The market has no such mercy

So true...

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #439 (permalink)
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Daytrader999 View Post
Just received this Email from TST today, I think this isn't going to make things easier for a new (TST) trader:


Attachment 147297

Daytrader999- You are quick on the draw.

The email does indicate current and past Traders are grandfathered.

As for your comments on new users. As you may be aware of being on our email list, most, if not all of those that get funded come from the 10 day Trading Combine. Most traders choose this Combine as it can be completed within a month. Being able to review your performance each month allows a trader to locate problem areas or bad habits and use the next month to focus on breaking that bad habit (it usually takes about a months to break a habit if you are focused each day on getting better - I recommend the book the Power of Habit). Which I believe Linda Raschke spoke about here on futures.io (formerly BMT).

The 10 day Combine also puts those that have a solid foundation and a sound strategy in a position they can start trading with a Funded Account right away.

Lastly, traders can and always will be able to contact us to customize a Trading Combine which will allow them to have 20 or more trading days. Customizing allows us to work with anyone to find the account parameters, duration and objective that best fits with their trading to ensure everyone has an equal opportunity for success.

Also, be watching your email later this week as we are excited to announce lower profit targets for a few of our Trading Combine accounts.

Hope that clarifies things a bit.

mp

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  #440 (permalink)
 PandaWarrior 
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Daytrader999 View Post
Agreed, although the market (NQ) tended to behave like watching paint dry during the last days in the afternoon sessions.

I meant CL but it was also very slow.....

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