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Anybody heard of topsteptrader (review)


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Anybody heard of topsteptrader (review)

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  #901 (permalink)
Johor, Malaysia
 
Experience: Beginner
Platform: Sierra Chart
Trading: CL, GC
 
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TradingOgre View Post
Scaling plan and no trading during news events. Things that aren't enforced during step 1 that are in step 2. So watch out for interest rate announcements, FMOC meeting minutes, NFP, etc. You have to be flat 1 min prior to 1 min after.



https://help.topsteptrader.com/hc/en-us/articles/235514547-What-is-the-Trailing-Max-Drawdown-

Some events/announcement that are not required to be flat also need to be aware of. For eg, jobless claim, CPI.

I had a pretty huge slippage for GC that caused me to break daily limit rule. My stops was set at 15t and 16t, but I got filled over 50t for both lots, more than 10t slippage per lot.

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  #902 (permalink)
Chicago, IL
 
Experience: Advanced
Platform: TSTrader, NinjaTrader...
Trading: ALL- Futures, Forex, Equities
 
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Posts: 246 since Feb 2013
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Thanks for helping clarify @TradingOgre and @matthew28. You summed it all up pretty well. The Weekly Loss Limit is equivalent to the Daily Loss Limit and is factored based on the sum of the total Net P&L in the calendar week. The Weekly Loss Limit rule is eliminated once the Trailing Maximum Drawdown reaches the starting balance. Your leverage is determined by the Trading Combine account size you choose on day one. As you build/lose equity, your buying power will increase/decrease based on your end of day P&L, according to the graphs that featured here. In the Funded Account, once your cumulative profit is greater than $5,000, you can request adjusted risk parameters.

Always feel free to reach out to us at support@topsteptrader.com with any questions.

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #903 (permalink)
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Manta, Ecuador
 
Experience: Advanced
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  #904 (permalink)
Fort Collins
 
 
Posts: 3 since Dec 2018
Thanks: 0 given, 0 received

Hey guys, I want to post something that happened to me today. Day one of my step 2 trading combine, using their recommended TSTrader.

I'm short 3 contracts on Crude 150k combine. I click the buy button to close out my position and the mouse is off by 2 millimeters and hits sell. Within less than a second I correct the error. Due to their order buttons being 2 millimeters apart, mistakes like this should happen fairly often, which I'm sure their aware of.

I shoot them a message to let them know that I clicked the wrong button and the order board should show the position was not open for more than 1 second as the buttons are basically touching. I'm informed I broke the scaling plan and I need to start over and pay them more money.

I was going to invest $5,000 and I figured, I should at least practice with that money on Topstep and instead they go and pull some carnival arcade scam. I'm 100% sure there is a reason their buttons basically touch, no other platform is like this. After my experience with them today, I'm probably going to continue this fight outside of the forums because it's wrong and they are taking advantage of people. I won't allow it to happen to anyone else.

I can see if someone broke the scaling plan to try and make more money, but a position open for less than a second shows it was a wrong click. Given online ordering, this is probably fairly common and not detrimental whatsoever as long as it's caught right away. They apparently aren't interested in that and are only interested in stealing people's money, which is what happened to me. Unfortunately, I was totally scammed by this company and I pray it doesn't happen to anyone else.

If you still insist on trading with them, which i don't recommend. Use Ninja Trader and not their scam platform that is designed for you to fail.

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  #905 (permalink)
Fort Collins
 
 
Posts: 3 since Dec 2018
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Thanks Bob. I did bring it up with Nick from TST and he revoked my account.

The other issue, which I didn't address but what I feel is probably more important is that the scaling program is designed to see if a trader can make consistent profits and not pull 15 contracts and get lucky. I agree with the scaling program, it's fair. But, when someone misclicks their mouse and corrects it, in under a second, that's not a issue with not following the plan. When TST decides to take someones money over a simple mouse click, it shows they aren't interested in funding traders but only stealing their money. If they were interested, I'd still have an account and I would correct the issue in the future.

I can also guarantee you, this has probably happened a thousand times in the past and they haven't even attempted to correct it because it's a part of their profit strategy. Any reasonable person would agree after looking at the trading log that it was a misclick and should not have all their money taken from them and kicked off the program.

To address what you stated by the market not being forgiving, the market isn't going to limit down in less than a second. The loss is nearly non existent if anything at all, so that's no excuse to revoke a combine. They have a flawed trading plan designed to steal people's money. This incident today has shown that and it's sad for the other traders that will make the same mistake in the future.

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  #906 (permalink)
Fort Collins
 
 
Posts: 3 since Dec 2018
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bobwest View Post
Unfortunately, I had not seen that this guy (@Dan1) had just made 10 one-line posts in different threads to get his post count up to 10, so he could post in a review thread.

Using junk posts to inflate your post count while you're pretending to be on the level is a no-no, and I assume he will hear from a moderator soon.

I found I couldn't delete my post (which I will report as a bug, since I want it gone now). There's no point in responding to someone with ill intentions.

Bob.

That's not very nice of you to suggest I made junk posts. My responses were very helpful, and you stating this is wrong.

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  #907 (permalink)
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Manta, Ecuador
 
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Dan1 View Post
That's not very nice of you to suggest I made junk posts. My responses were very helpful, and you stating this is wrong.

Seriously? Here are just a few of your "very helpful" posts that you made in quick succession just to bypass the forum rules and post in this thread.

You created all these within 4 minutes of each other. You just randomly picked threads and hit reply.


Dan1 View Post
it's picked up again


Dan1 View Post
Sick setup bro


Dan1 View Post
That's great man


Dan1 View Post
glad you're here man

Just admit that you made junk posts, just so you could write in the TopstepTrader thread. And you knew what you were doing, despite the very clear warning that says don't write junk posts bypass our rules.

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  #908 (permalink)
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Manta, Ecuador
 
Experience: Advanced
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Posts: 48,941 since Jun 2009
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I've deleted @Dan1's 10 junk posts. He is also banned for 30 days for violating forum rules.

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  #909 (permalink)
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  #910 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
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Aragorn View Post
I want to open two simultaneous accounts with TopStep Trader. I want to open two accounts because I want to use one account to only take Long trades and the other account to take Short trades. This will allow me to take a Long trade and a Short trade at the same time without closing my positions.

I currently only have a NinjaTrader Single Broker License. But, in order to have two accounts with TopStep, I need a NinjaTrader Multi Broker license, correct?


NinjaTrader View Post
With NinjaTrader you would not need a Multi Broker License Key to do this. There are however two different scenarios to consider and are dependent upon TopStepTrader.

1. If they are able to open two accounts and tie them both to the same Rithmic login then you will be fine.
2. If they are unable to open two accounts under the same login then you would need to have two separate instances of NinjaTrader to run each account as this is a limitation of connection adapter. This would require two Live Single Broker License keys per our terms of service.

@ Topstep Trader,

Your input will give me the information I need to proceed.

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