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Anybody heard of topsteptrader (review)


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Anybody heard of topsteptrader (review)

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  #771 (permalink)
Atlanta, GA/USA
 
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emini2000 View Post
I'm not, but I'm a pilot. This is what I posted above:



If we're actually talking about flying, and I have no idea the context of that quote, it should come within the first 20 hours easily, depending on how consistent one is flying. Some do it in under 10, but 10-20 is more realistic.



I wasn't even talking to you. I replied to @PilotTrader post. He's the one that accused me of "gross exaggeration". I'm still waiting on an apology from him.


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  #772 (permalink)
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Trader146 View Post
Btw, are you an instructor? If not, how would you know?


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When one walks into a party, how do you know who is a pilot? He will be sure to let you know! Lol.

Nope, not an instructor, you are right there. Just your everyday, run-of-the-mill instrument-rated commercial pilot with over 2,500 hours flight time in high performance aircraft, experimentals and vintage WWII aircraft over the past 25 or so years. Oh, I also built a Lancair along the way. But no, am not an instructor.

Hope you get your license soon sir.



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  #773 (permalink)
Atlanta, GA/USA
 
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emini2000 View Post
Well there you go. As I said:

...but 10-20 is more realistic to SOLO. Of course you have to know how to land to do that. lol.



Just being able to take off and land is not enough to solo in case you didn't know. If that's all you have demonstrated to your instructor, he will not let you solo.


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  #774 (permalink)
Atlanta, GA/USA
 
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PilotTrader View Post
When one walks into a party, how do you know who is a pilot? He will be sure to let you know! Lol.



Nope, not an instructor, you are right there. Just your everyday, run-of-the-mill instrument-rated commercial pilot with over 2,500 hours flight time in high performance aircraft, experimentals and vintage WWII aircraft over the past 25 or so years. Oh, I also built a Lancair along the way. But no, am not an instructor.



Hope you get your license soon sir.








I've had my license for 15 years buddy.

And just because you're a commercial pilot doesn't mean you mean you know for sure how long it takes the average student to learn to fly. But I'm not going to argue with you. This thread is about TopStepTrader, not how long it takes to learn to fly an airplane. Try to stay on topic.


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  #775 (permalink)
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Trader146 View Post
Just being able to take off and land is not enough to solo in case you didn't know. If that's all you have demonstrated to your instructor, he will not let you solo.


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I am an instrument rated pilot. I know what's going on. And your comment was about time to solo. It doesn't take 40-60 hours to solo, not even close. I answered that question correctly.

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  #776 (permalink)
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Trader146 View Post
I've had my license for 15 years buddy.

And just because you're a commercial pilot doesn't mean you mean you know for sure how long it takes the average student to learn to fly. But I'm not going to argue with you. This thread is about TopStepTrader, not how long it takes to learn to fly an airplane. Try to stay on topic.


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But you didn't say 'learn to fly' in the comment he quoted. You said SOLO.

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  #777 (permalink)
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emini2000 View Post
I am an instrument rated pilot. I know what's going on. And your comment was about time to solo. It doesn't take 40-60 hours to solo, not even close. I answered that question correctly.



I stand corrected. I did say solo. I'm pretty sure my instructor was quoting figures for obtaining your license. But my point is still valid, you don't have to pay to practice. You can practice trading for free on a simulator. Once you are confident you can pass the combine, then and only then should you sign up IMHO. And that's all I have to say about that!


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  #778 (permalink)
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Trader146 View Post
I stand corrected. I did say solo. I'm pretty sure my instructor was quoting figures for obtaining your license. But my point is still valid, you don't have to pay to practice. You can practice trading for free on a simulator. Once you are confident you can pass the combine, then and only then should you sign up IMHO. And that's all I have to say about that!


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Hey, I don't disagree with that about paying to practice.

I'd say the average time to get a private pilot's license is 60-70 hours because most don't fly frequently enough. Now if in a school doing it, less than that because one is training full time.

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  #779 (permalink)
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emini2000 View Post
I think anyone looking at them objectively can see the combines are where they make the bulk of their money. Does that make them 'bad'? No. They still provide the opportunity. They were smart enough to come up with a model where they could actually make money giving traders a chance to get their own account. It just is what it is.

Hello,

Yes, I experienced TST for awhile and was in combine for about 4 months. It was very good experienced.

Think of TST like this using the 30K combine, $1500 trailing drawdown as an example:

1. Using your trading strategy can you make $1500 without hitting a $1500 drawdown? In other words, if starting with at $1500 trading capital can you earn another $1500 in profits?

2. Can you do step 1 3 times? 1 time for Combine, again for FTP, and again for Funded account? So actually, you would have to start with $1500 capital, and make another $1500 three times. Also, if you get to the funded account and hit drawdown while trying to make $1500 or break a rule, you start alll over again from Combine.

3. Can you do the above with 1-3 contracts? 1 will be better to avoid $1500 drawdown.

If your trading system back testing data show your system can get past all those steps, you should start the TST Combine. If not, don't take the risk until you can.

The gotcha with TST is the starting drawdown balance and making sure your system does not have a drawdown of $1500 if using the $30K.

Thanks,

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  #780 (permalink)
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Quoting 
Try to stay on topic.

Sure, no problemo amigo. I will stay on topic.

Here's my 2 cents: IMO, no way trading on SIM is the same as trading in a paid combine. Similarly, flying on your computer flight simulator is not the same as flying the Cessna 150/172 flight school plane at the local airport. In a paid combine, there is skin in the game, albeit not as much as trading a $10k trading account but nonetheless, you can keep resetting your SIM account to your heart desire at no cost whatsoever. Resetting a paid combine has an associated cost attached to doing that.

With that said, it took me a few attempts (okay, more than a few (40-60 hours? ha ha ha!) to finally bag the $50K combine but I do believe I got better each time and more disciplined. Let's see how I do with the FTP attempt I am doing now...

One thing that did help me was that along the way I trained myself to code NT strategies. So, for the most part, I let the strats do the work, just like my auto pilot in my plane (which actually flies a whole lot more precise that me! lol).

Blue skies,
PilotTrader


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