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

  #891 (permalink)
Market Wizard
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Tymbeline View Post
I believe that there's now no such thing as "FTP" any more.

Instead, the Combine's in two stages: the first stage (which seems to be what was until recently called "Combine") has been reduced to a 5-day minimum instead of 10, and one or two other figures are also different; the second stage (which appears to be what used to be called "FTP") has a 10-day minimum. My point: this isn't just a change in name - some other parameters, including the minimum number of days, are also altered.

Someone please correct me, if I'm wrong about anything I've said above.


matthew28 View Post
I think this is the result of competition in the market place.

One Up's evaluation period is a minimum of fifteen days.

TST's was two evaluation days of a minimum of ten days each. Now it is in effect also fifteen days. Previously having to pass the Combine, then to basically be told to "now go off and do the same thing again" made One Up look more attractive in that respect.
In my opinion this also now makes a clearer distinction between Stage 1 (formerly the Combine), where you can use larger size straight away and now hit your target in a few days, and Stage 2 (formerly FTP); which was always supposed to be about implementing the scaling plan and Daily to Weekly loss limit, to lower initial maximum risk and reduce the likelyhood of blowing out in the first day or two and aim to promote more realistic risk management.

Funny that I just now became aware of the changed terminology. It's Combine Step 1 and Step 2 now on their website. I think it was still Combine and FTP a short while ago.

I think @matthew28 is right about competition, and also about the purpose of "Step 2"/"FTP".

I also think this was good marketing/labeling -- the amount of complaining about "why do I have to do it twice?" was amazing. Now it doesn't look like just a repetition, or a trick to make you fail (although I am sure that some people will find a way to make it so -- complaining can be so much fun. )

Competition seems to be working as it should. A good thing, overall.

Thanks to both @Tymbeline and @matthew28 for waking me up to the change.

Bob.


Last edited by bobwest; February 14th, 2018 at 07:57 AM.
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  #892 (permalink)
grappling dummy
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I think one of the hardest part is size and risk.
Some people myself included were not use to the size, thus though there is parameters in ftp/step2 you can easily shoot yourself in the foot by sizing up too much initially.

A better breakdown aor article or series of articles comparing different risk models and risk strategies could help traders who are or were successful at step1, but got hung up in ftp/step2.

For myself I'm thinking of it in R multiples. Not adding contracts till I have enough R multiples as a buffer. If my normal R is 1R, then not adding a second contract till I have say 5R. Depending on your r:r you could get there in 1 or 4 wins. This varies. But once I get to 5R then adding a second lot gives me 2.5R each or 5R total to play with, when in theory a single loss will cost me 1R per contract, or 2R, with 3R left in reserve for slippage.

Now this isn't the only model or strategy, as many people scale in and out in different ways, but it is one for people that are the all in to all out, or all in to scale out. For traders who scale in whether it is with a grid, on pull backs, or momentum, or other a different approach may be of value.

Fall Seven Get Up Eight
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  #893 (permalink)
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I am now a Funded Trader. The new process is better and clearer. The negative is the process is very long almost 2 weeks to get the account.
I switched to TSTrader to get free commissions mainly and mobile support. It's a good platform and easy to use for execution mainly. Mobile interface is great but not a native app.

I find Topstep not that developed regarding International traders. They don't support Euro reports and all my parameters are incorrect.

Overall good experience but big room for improvement.


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