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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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  #631 (permalink)
 polinya 
Barcelona
 
Experience: None
Platform: ninjatrader
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last friday I finished my combine ...I succesfully completed my combine ...I sent to them two e-mail but I haven't received any answer

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  #632 (permalink)
 lemons 
Tallinn, Estonia
 
Experience: Beginner
Platform: SC
Trading: NAS100
 
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Posts: 958 since Nov 2010


polinya View Post
last friday I finished my combine ...I succesfully completed my combine ...I sent to them two e-mail but I haven't received any answer

Good work.

And don't worry.
They will answer in 1-2 days.

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  #633 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
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mykee View Post
Hi Michael or Hoag,

Just wondering when/if Topstep will add the continuous combine into the tick exchange items.

Thanx.


mykee

Mykee,

Thanks for the feedback. Any changes and I'm sure you will know.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at [email protected] or 888.407.1611.
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  #634 (permalink)
TraderJim618
Falls Church, VA
 
 
Posts: 25 since Oct 2013
Thanks: 6 given, 25 received

Hi Mr. Patak,

I have a question about the profitability rule with the combine. One of the rules states that a participant must be profitable in every instrument traded. I assume that the majority of participants in the combine trade one, possibly two instruments during their trial.

I'd like to pose a hypothetical scenario to you for clarification: A trader has a system which is applicable to trading multiple instruments. During the combine (trading a $50K account), trading opportunities in 4 different instruments (i.e. ES, CL, 6E, ZS) arise, based on the rule set. At the conclusion of the combine, the trader has achieved a net profit of $6,500+ trading 3 of the 4 instruments (ES, CL, 6E). However, a single trade in Soy (ZS) was taken with 2 contracts, and the trader was stopped out with a -$500 loss.

Therefore, ALL instruments are not profitable during the combine, and technically, that condition is a violation of the rule, and would disqualify the participant. Calls placed to Topstep customer service for clarification confirmed this scenario is a rule violation and a disqualification. From my perspective, that is illogical. Can you please elaborate further on the logic. Happy Holidays, and thanks in advance. Jim

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  #635 (permalink)
 sharmas 
Auckland
 
Experience: Advanced
Platform: Ninja Trader
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Posts: 772 since Apr 2010
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In my view the best option would be to take few High Probability trades in ZS and make ZS profitable and then you are home.

TST will not change it and they are good at what they do. Have very strict rules and yes traders who try will get caught into this and in my view this is where TopStep make their money.

So in the end they will give you money to trade with stricter rules and with so many failed continuous are they really giving money to successful people or are they using the funds accrued via the failed continuous.

Great business in my opinion as for every 1 passed account there would be nearly 15 failed accounts.

My view and without transparency no one can know for sure

Sharmas




TraderJim618 View Post
Hi Mr. Patak,

I have a question about the profitability rule with the combine. One of the rules states that a participant must be profitable in every instrument traded. I assume that the majority of participants in the combine trade one, possibly two instruments during their trial.

I'd like to pose a hypothetical scenario to you for clarification: A trader has a system which is applicable to trading multiple instruments. During the combine (trading a $50K account), trading opportunities in 4 different instruments (i.e. ES, CL, 6E, ZS) arise, based on the rule set. At the conclusion of the combine, the trader has achieved a net profit of $6,500+ trading 3 of the 4 instruments (ES, CL, 6E). However, a single trade in Soy (ZS) was taken with 2 contracts, and the trader was stopped out with a -$500 loss.

Therefore, ALL instruments are not profitable during the combine, and technically, that condition is a violation of the rule, and would disqualify the participant. Calls placed to Topstep customer service for clarification confirmed this scenario is a rule violation and a disqualification. From my perspective, that is illogical. Can you please elaborate further on the logic. Happy Holidays, and thanks in advance. Jim


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  #636 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
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Posts: 65 since Mar 2012
Thanks: 23 given, 310 received


TraderJim618 View Post
Hi Mr. Patak,

I have a question about the profitability rule with the combine. One of the rules states that a participant must be profitable in every instrument traded. I assume that the majority of participants in the combine trade one, possibly two instruments during their trial.

I'd like to pose a hypothetical scenario to you for clarification: A trader has a system which is applicable to trading multiple instruments. During the combine (trading a $50K account), trading opportunities in 4 different instruments (i.e. ES, CL, 6E, ZS) arise, based on the rule set. At the conclusion of the combine, the trader has achieved a net profit of $6,500+ trading 3 of the 4 instruments (ES, CL, 6E). However, a single trade in Soy (ZS) was taken with 2 contracts, and the trader was stopped out with a -$500 loss.

Therefore, ALL instruments are not profitable during the combine, and technically, that condition is a violation of the rule, and would disqualify the participant. Calls placed to Topstep customer service for clarification confirmed this scenario is a rule violation and a disqualification. From my perspective, that is illogical. Can you please elaborate further on the logic. Happy Holidays, and thanks in advance. Jim

Trader Jim,

Some things have been decided internally that should address this after the first of the new year. Keep trading well and lets have a great 2016!

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at [email protected] or 888.407.1611.
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  #637 (permalink)
 zcui 
Chicago, IL
 
Experience: Beginner
Platform: NinjaTrader, TOS
Broker: Mirus/ZF
Trading: Currencies, ES
 
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Posts: 22 since Jun 2011
Thanks: 17 given, 23 received

Hi Michael,

I have a question about your combine rules. I see the first rule of combine saying a trader has to be profitable on each and every product, but as a Forex/currency futures trader, I think it is more reasonable to consider all currency futures as a whole since they share very similar characteristics.

Myself trade all currency futures using identical approach, but I only pick 1 or 2 currencies where I see potential trading opportunities before each session. I trade mostly 4 hour chart with small size and because I trade quite infrequently, it's possible that I might end up reaching profit target, profiting from most currency products but have 1 or 2 losing products and thus disqualifies the combine. What are your thoughts on this? Thanks in advance.

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  #638 (permalink)
 matthew28 
Legendary Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Platform: Tradovate
Trading: US Equity Index Futures
 
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Zcui - See the post above yours and then what the new year brings.

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  #639 (permalink)
 Topstep  Topstep is an official Site Sponsor
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Posts: 277 since Feb 2013
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Happy 2016!

We're happy to announce that TopstepTrader® is simplifying the Trading Combine®, Funded Trader Preparation™, and the Funded Account™ rules. Less rules = even more funded traders!

You spoke and we listened. Starting today, all active and new accounts will be evaluated with the rules shown below. With the approval of our trading firm, these new rules benefit the trading community, and make earning a Funded Account simpler than ever before:

Step 1: NEW Trading Combine Rules
  1. Trade a minimum of 10 days
  2. Trade permitted products and times
  3. Do not hit or exceed the Daily Loss Limit
  4. Do not allow your Account Balance to hit or exceed the Trailing Max Drawdown
REMOVED:
* Always implement stops with an open position
* Achieve at least 45% Profitable Days
* Achieve an Average Net P&L greater than $0 for each product traded

Step 2 & 3: NEW Funded Trader Preparation and Funded Trader Rules
  1. Trade the Combine or Funded Trader Preparation product(s) you were profitable in during permitted times
  2. Do not hit or exceed the Daily and/or Weekly Loss Limit*
  3. Do not allow the Account Balance to hit or exceed the Trailing Max Drawdown*
  4. Follow the scaling plan
  5. Do not hold positions into major economic releases
  6. Maintain an Account Balance greater than $0 after a minimum of 10 trading days
REMOVED:
* Always implement stops with an open position
* Achieve an Average Net P&L greater than $0 for each product traded (evaluated at the end of the 10th trading day)
* Achieve at least 45% Profitable Days (evaluated at the end of the 10th trading day)

*The Weekly Loss Limit (if applicable) and Trailing Max Drawdown are eliminated after 10 trading days


We are excited to share these new rules with you! If you have any questions, please post on the thread, shoot us an email at [email protected], or give us a call at 888.407.1611 - we're more than happy to help.

Michael Patak

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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  #640 (permalink)
 TraderFish 
Sydney, NSW Australia
 
Experience: Intermediate
Platform: Ninjatrader
Trading: ES, CL
 
Posts: 26 since May 2015
Thanks: 17 given, 19 received


Excellent to see this change guys!

I think this will make the combine achievable (especially the all products above $0 rule) while still providing an adequate test of a persons ability to trade a funded account. It is good to see you focusing on funding traders rather than relying on the revenue stream from combines.

Simon

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