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Anybody heard of topsteptrader (review)


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Anybody heard of topsteptrader (review)

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  #441 (permalink)
Market Wizard
Ilsede, Germany
 
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TopstepTrader View Post
The email does indicate current and past Traders are grandfathered.

Yep, I mentioned that this wouldn't apply for me.


Quoting 
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.

Anyway, the time issue as described above will remain, respectively increase if there would be no option to negotiate another rule regarding the trading days (which I didn't know as of now).


Quoting 
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

That sounds interesting, thanks for clarifying...

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  #442 (permalink)
Market Wizard
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PandaWarrior View Post
I meant CL but it was also very slow.....

...Even slower (if possible at all) in the evenings, even around pit close...

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  #443 (permalink)
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Daytrader999 View Post
Yep, I mentioned that this wouldn't apply for me.



Anyway, the time issue as described above will remain, respectively increase if there would be no option to negotiate another rule regarding the trading days (which I didn't know as of now).



That sounds interesting, thanks for clarifying...

Daytrader999- Anytime. Let me know if you have any other questions.

As a side note: We have some cool stuff coming out in June, not Trading Combine related. Think more community, fun, competition related.

Trade well,

mp

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  #444 (permalink)
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  #445 (permalink)
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TopstepTrader View Post
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.

Looking forward to hearing the details of this. From doing the maths behind each combine in terms of required average daily profit and risk:reward in relation to allowed position sizing, the 30k combine is the clear winner.

The problem comes when you move to LTP and live status, you're generally only allowed to trade 1 contract. This wreaks havoc on your trading if you've specifically designed the way you trade to incorporate scaling out. You've built your whole methodology around scaling out, risk:reward etc. Then you pass the combine and the maths behind your methodology no longer works because you cant scale out. No problem if you're methodology doesn't require scaling out as part of your risk:reward calcs, but if they do then you're in trouble.

It would therefore be great to have the other combines more in line with the 30k just purely from a profit objective and risk:reward in relation to position size perspective. At least then you'll know if you pass a combine based on a scale out strategy, you will at least be able to trade a 2 lot and not need to change anything in ltp/live. Will keep an eye out for more details.

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  #446 (permalink)
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DarkPoolTrading View Post
...The problem comes when you move to LTP and live status, you're generally only allowed to trade 1 contract. This wreaks havoc on your trading if you've specifically designed the way you trade to incorporate scaling out. You've built your whole methodology around scaling out, risk:reward etc. Then you pass the combine and the maths behind your methodology no longer works because you cant scale out. No problem if you're methodology doesn't require scaling out as part of your risk:reward calcs, but if they do then you're in trouble...

Thanks @DarkPoolTrading, I wasn't aware that we can only trade 1 contract when we qualify to LTP and live status.

What a shame that TST does not publish this information. Hope they'll provide some flexibility for newer combines.

I'm on my third Combine and things are improving for me, but only because I'm relying on the scaling out method.

A bit disappointed to know that it may not be allowed in the LTP and live status..

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  #447 (permalink)
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fourtiwinks View Post
Thanks @DarkPoolTrading, I wasn't aware that we can only trade 1 contract when we qualify to LTP and live status.

What a shame that TST does not publish this information. Hope they'll provide some flexibility for newer combines.

I'm on my third Combine and things are improving for me, but only because I'm relying on the scaling out method.

A bit disappointed to know that it may not be allowed in the LTP and live status..

Hi @fourtiwinks,

Let me just clarify before I get in trouble. Firstly, from my understanding most things are negotiable with TsT. However, one resounding theme of those that go to ltp and live are that they have to cut their position size. This is not a bad thing. It's so you learn to build up the account slowly and dont blow out in a few days. Fair enough.

If you're trading a large combine, then you may be required to reduce your position size down to 2 or 3 contracts to start. Then you can add more as you grow the account. However when it comes to the 30k combine because you can only trade 3 contracts anyway, reducing your position size means going to a 1 lot. So far i've only heard of 1 person who was allowed to trade more than a 1 lot after passing the 30k.

So with that in mind, I personally find the 50k very appealing because you might only be required to reduce your position size down to a 2 lot, so you can continue scaling out. However the maths with the 50k in relation to the 30k are not as good in terms of risk:reward and profit objective in relation to position size.

Just thought id add that, in case you thought I was talking about all the combines. Im specifically talking about the 30k, and that the VAST majority (but not all) are made to trade a 1 lot after passing which completely screws with those who rely on scaling out. If they change the requirements of the 50k, Ill certainly be looking at it as an option.

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  #448 (permalink)
Singapore
 
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Thanks again @DarkPoolTrading, I'm actually focusing on the 30k Combines for my trading.

No point in going for bigger Combines when they only allow 30k Combine criteria for LTP and live status.

I'm ok with TST wanting people to reduce position size during LTP and live status, as it is prudent policy.

But it is a shame that this is not revealed until after one qualifies the Combine.

Still, TST Combines are very useful in helping struggling traders like me to develop discipline and a sense of responsibility and I appreciate that.

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  #449 (permalink)
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DarkPoolTrading View Post
Hi @fourtiwinks,

Let me just clarify before I get in trouble. Firstly, from my understanding most things are negotiable with TsT. However, one resounding theme of those that go to ltp and live are that they have to cut their position size.

So far i've only heard of 1 person who was allowed to trade more than a 1 lot after passing the 30k.


fourtiwinks View Post
I'm ok with TST wanting people to reduce position size during LTP and live status, as it is prudent policy.

But it is a shame that this is not revealed until after one qualifies the Combine.

I guess we're going to have to wait for @TopstepTrader to weigh in on this, but until Michael sees this, I just went over to their web site, and according to it, if you passed a 30K Combine, your max position size as a Junior Trader is still 3 contracts:

https://www.topsteptrader.com/learnmore#learnmore-get-funded

Perhaps they modify that for individual traders, and perhaps it's different for LTP, but I always understood that you could trade on the same basis as the Combine you passed.

I could certainly be wrong, and it sounds like @DarkPoolTrading has familiarity with actual people's experience. Thanks for bringing this up.

I hope MP will step in and clarify the policy and the practice.

Bob.

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  #450 (permalink)
Portugal, Viana do Castelo
 
Experience: Intermediate
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Trading: 6e
 
Posts: 343 since Sep 2011


I have heard that they tighten the rules in the LTP buy this I mean you have to go to BE after an x amount of ticks in profit etc and I think that this behavior can influence your trading negatively.
It is like topstep is after your initial deposit and not looking for trading talent.

Maybe topstep can post the trading rules in the LTP here and please do not come with the answer that the rules are different for traders with regards to the outcome of the combine!

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