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Topstep's Nick Dolby (Social Media and Community Coordinator) - Ask me Anything (AMA)


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Topstep's Nick Dolby (Social Media and Community Coordinator) - Ask me Anything (AMA)

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  #1111 (permalink)
TickTick
Chicago Illinois
 
 
Posts: 27 since Jun 2019
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bobwest View Post
Offering a K1 is a matter of company ownership structure. It is the form that is used to report partnership and similar earnings of people who have an ownership interest in a firm. (Thanks to Google, because I had no idea what it was at first. ) So it's used by firms that are set up as an LLC or LLP or S corp. In the case of trading firms, their traders would be part owners of the firm.

I will have to just let the TopStep people respond on the question of their plans, but the thing that occurred to me is that if someone is already a professional trader, they won't be looking for any of these programs anyway, will they? These things are for people who are starting out, basically. If anyone is already doing high volume a month, is profitable with that volume and is able to negotiate low commissions based on their volume, they generally aren't going to be looking for funding with any of these firms, and won't need it.

I agree that an LLC or similar structure would be nice because of the tax situation and is something to think about. Part of the weighing of pros and cons, and an individual matter. I have no idea if there are any cons or not, and would leave that to professional advice.

Bob.


I agree that someone well capitalized should open their own account. Unfortunately I'm right in the middle of these 2 sides. It is just a big math problem. It is the bottom line the following year after taxes that matters. If going with a firm like this provides enough size that will effectively and efficiently provide more income than that of a trader could do in their own account, then go with the firm. As soon as the story flips, it is no longer needed. There are many other reasons too that have kept me on the fence. One thing for sure that is annoying is how uneducated these firms' customer service/reps are. You ask questions for clarity/confirmation, but you get 10 different answers. Also at times it is obvious that they are just saying something, maybe thinking that you do not know any better and/or not willing to get the correct information. It seems that their main narrative is quit antonymous too. Oh well, they say sometimes you just got to bit the bullet right?




TopstepTrader View Post
Thank you for all of your questions and feedback over these past few months. We admittedly haven't dedicated enough time to this thread, but that's all going to change! Please continue to engage here, and we will make sure you're getting the answers you're looking for.

We'll get a post up soon addressing questions that have gone unanswered, so keep an eye out! We are eager to jump back into the conversation. Thanks for your patience.

For your urgent or time-sensitive questions, email us at [email protected] and we’ll be sure you’re taken care of.

Thank you,

Michael & Team Topstep


-Why do you guys not offer CTS T4 "Advanced", but just the "Core"?

-Why do you not offer Eurex during the combine? Have the attendee pay for the data. Others are doing that.

-Why do you not offer additional Eurex products that A) have low margins B) have a great risk profile C) could offer win/win for both the trader and firm as they are less per side fees = more profits kept in the account.

-why do you not offer notional/margin based risk accounts? If someone scales up to and is able to do 15 lots... they can trade 15 NQ? That is huge risk compared to 30lots schatz... build a risk profile for a trader to trade according to their style and risk management after completing the combine or another combine option.

-why do you not offer spreads or only allow the front month? CL has great liquidity within the first 3 calendar months. Span margins for spreads typically are lower, and can offer better risk control for various spreads? More round turns churns for you guys too...

-Will you be offering Z3N?

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  #1112 (permalink)
 Topstep  Topstep is an official Site Sponsor
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TickTick View Post
I agree that someone well capitalized should open their own account. Unfortunately I'm right in the middle of these 2 sides. It is just a big math problem. It is the bottom line the following year after taxes that matters. If going with a firm like this provides enough size that will effectively and efficiently provide more income than that of a trader could do in their own account, then go with the firm. As soon as the story flips, it is no longer needed. There are many other reasons too that have kept me on the fence. One thing for sure that is annoying is how uneducated these firms' customer service/reps are. You ask questions for clarity/confirmation, but you get 10 different answers. Also at times it is obvious that they are just saying something, maybe thinking that you do not know any better and/or not willing to get the correct information. It seems that their main narrative is quit antonymous too. Oh well, they say sometimes you just got to bit the bullet right?






-Why do you guys not offer CTS T4 "Advanced", but just the "Core"?

-Why do you not offer Eurex during the combine? Have the attendee pay for the data. Others are doing that.

-Why do you not offer additional Eurex products that A) have low margins B) have a great risk profile C) could offer win/win for both the trader and firm as they are less per side fees = more profits kept in the account.

-why do you not offer notional/margin based risk accounts? If someone scales up to and is able to do 15 lots... they can trade 15 NQ? That is huge risk compared to 30lots schatz... build a risk profile for a trader to trade according to their style and risk management after completing the combine or another combine option.

-why do you not offer spreads or only allow the front month? CL has great liquidity within the first 3 calendar months. Span margins for spreads typically are lower, and can offer better risk control for various spreads? More round turns churns for you guys too...

-Will you be offering Z3N?

Hi TickTick,

Thank you for your questions. They provide valuable feedback as to what you'd like to see as part of our offering, and I've shared them with our team. The common denominator for many is cost. We strive to keep costs down for our traders.

Regarding Z3N - We will evaluate its volume and liquidity when it launches July 13, and will decide whether to offer it.

If you would like to have a conversation about your specific questions, please reach out to [email protected].

Thank you!

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #1113 (permalink)
 Fibbee 
Boston, MA. United States
 
Experience: Intermediate
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Why do you not offer different combines for the swing into micro's program?

I understand you can trade your FX program but that's not really a comparable solution.

Why not offer 3 different swing programs for micros the same way you do the intraday program?

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  #1114 (permalink)
 Topstep  Topstep is an official Site Sponsor
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Fibbee View Post
Why do you not offer different combines for the swing into micro's program?

I understand you can trade your FX program but that's not really a comparable solution.

Why not offer 3 different swing programs for micros the same way you do the intraday program?

Hi Fibbee,

As of now, we only offer the $10k Trading Combine for swing trading Micros.

While we don't have imminent plans to add more options, I've passed your feedback along to our team.

Thank you!

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #1115 (permalink)
 Big Mike 
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Hi guys,

It is my pleasure to welcome John Hoagland and Dan Hodgman @ TopstepTrader for our 395th webinar event, on Thursday, July 30th @ 4:30 PM Eastern US.

The title for the event is "Fireside Chat with Seasoned Futures Traders", and bullet points include:

- What we've seen so far in 2020 and how our traders are handling the volatility
- What steps our top-performing funded traders are taking to manage risk and take profits during these unprecedented times
- How you can start taking advantage of these market moves without risking your own hard-earned capital



Register for the event:
https://on.futures.io/fasrs

Mike

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  #1116 (permalink)
 Tymbeline 
Market Wizard
Leeds UK
 
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This page shows the current monthly price for the $50k Combine as $165, while this one shows it currently "reduced" as a special offer from $264 to $199.

A little confusing?

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  #1117 (permalink)
 Topstep  Topstep is an official Site Sponsor
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Hi Tymbeline,

We are currently running a promotion to celebrate 8 years of funding traders, and the pricing includes a monthly reset which is not included in the standard Trading Combine price.

These packages are available until August 11. You can take advantage of the discounts here.

Let me know if you have any questions.

Thank you!

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #1118 (permalink)
dbouzas
Houston, TX
 
 
Posts: 18 since Jul 2019
Thanks: 43 given, 68 received


Tymbeline View Post
This page shows the current monthly price for the $50k Combine as $165, while this one shows it currently "reduced" as a special offer from $264 to $199.

A little confusing?

its there birthday special, you get the combine + a reset every month and your price is locked in. so for the 50k combine every month you would pay $199 and your allowed one reset per month. Its the best deal they're gonna give you.

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  #1119 (permalink)
dbouzas
Houston, TX
 
 
Posts: 18 since Jul 2019
Thanks: 43 given, 68 received

Hi, Michael,

What software you using in your $8K Day video? it looks like thinkorswim or quantower.

Dante

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  #1120 (permalink)
 Topstep  Topstep is an official Site Sponsor
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dbouzas View Post
Hi, Michael,

What software you using in your $8K Day video? it looks like thinkorswim or quantower.

Dante

It is T4.

Thanks!

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
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