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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)

 
 
rhs603tt's Avatar
 rhs603tt 
houston texas usa
 
Experience: Intermediate
Platform: sierra chart
Broker: Sierra Chart, T4
Trading: crude
Posts: 16 since Sep 2013
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Has anyone found a work around to using Sierra Chart in a Top Step combine? Meaning still using SC in a combine.
Thanks

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rhs603tt View Post
Has anyone found a work around to using Sierra Chart in a Top Step combine? Meaning still using SC in a combine.
Thanks

The only work around that I use is that I implement the trade using another platform, in my casse Motivewave. What I did is I opened a real account with real moeny that I almost do not trade, I pay the datafeed for about 30 USD per month and I use Sierra. The total cost to use sierra + datafeed + market subscription etc... costs less than 100 USD.

Then I have all the other costs of trading associated with Motivewave. Since I need sierra for analysis I think that 100 usd is affordable.

Honestly this solution helps me a lot because Motivewave is " good enough" and also allows you to have any indicators and is easy to learn.
Also it is reallly a learning oportunity to use another platform because it gives you a better perspective. Now I feel that I could trade also withouth Sierra

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Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
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Topstep View Post
Thank you for your comments. I am discussing with our product team to get a better understanding, and will follow up. I'm aware others have this configured, but currently our risk parameters prevent us from doing so. I can say right now that our product team is researching the technicalities. Our top priority right now is launching our new brand, Topstep, so I may not have more for a few days. I will follow up as soon as I can.

Thank you!

After discussing with our product team and risk manager, it currently boils down to tech limitations. While we are exploring how to deliver these options similar to our competitors and looking at multiple workarounds, we are currently focused on controlling the risk on our accounts.

Thank you!

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bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
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Topstep View Post
After discussing with our product team and risk manager, it currently boils down to tech limitations. While we are exploring how to deliver these options similar to our competitors and looking at multiple workarounds, we are currently focused on controlling the risk on our accounts.

Thank you!

Thanks. I think this is a reasonable response and one I expected. It comes down to technical issues based on how the present system is designed, which probably would require serious effort to change.

With this said, it also is true that the use of micros on a TopStep Combine is not a great choice for a customer. It's allowed, but the contract limitation is a drawback.

Clarity on the issue is what was being asked for, and now we have it. Users will simply have to decide if this is a factor for them or not.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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Markus
Frankfurt am Main
 
Posts: 38 since May 2010
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Why the hell are you applying a different rule in the funded account regarding the calculated weekly loss limit and trailing maximum dradown? This is not fair!

1) Trading Combine & Pro Account

WEEKLY LOSS LIMIT & TRAILING MAXIMUM DRAWDOWN ARE CALCULATED END OF DAY

2) Funded Account


WEEKLY LOSS LIMIT & TRAILING MAXIMUM DRAWDOWN ARE CALCULATED INTRADAY


 
 
matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
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Markus View Post
Why the hell are you applying a different rule in the funded account regarding the calculated weekly loss limit and trailing maximum dradown? This is not fair!

LOL. Why the hell would they allow you to lose more than the maximum permitted loss when trading real money in a funded account by allowing you to trade to the end of the day if you exceed your WLL or TMD during the day?
Plus the WLL rule is eliminated anyway once the Trailing Maximum Drawdown reaches the starting balance. ( https://help.futures.topstep.com/hc/en-us/articles/360000140747 ).

So the only way to make the Combine and the Funded account the same (and fairer!), would be to remove the small extra leniency they have allowed people trying to pass those simulated test accounts?

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
 
hdge4u
Austin TX/USA
 
Posts: 5 since Nov 2020
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Top Step vs One Up Trader? which one should i get funded with and trade? why?

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hdge4u
Austin TX/USA
 
Posts: 5 since Nov 2020
Thanks Given: 6
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so i will answer this myself.

im leaning toward ONE UP because they are not as stringent on their rules as Top Step and i dont have to pay data fees. Also, are these really funded accounts, or just ponzi schemes using the monthly subscription money to pay off the few claims in the trader risk pool?

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matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
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Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
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hdge4u View Post
....Also, are these really funded accounts, or just ponzi schemes using the monthly subscription money to pay off the few claims in the trader risk pool?

Topstep have been going for over ten years, if they were in any way dodgy their competitors would have found it out long ago and got them shut down.
I like Topstep because at least you know the main names of the staff and they have been transparent about who they are from the beginning. They also do frequent blog posts, Topstep Community Facebook posts (see below), or email newsletters about their profitable traders.

Also, kind of obvious but if you are in the minority that get funded and are profitable, you are trading the company's money, they look after it/manage it, and you request payments from them. So as well as considering the rules for trying to get funded, I would equally look at all the various companies and consider their reputations too.
Just my thoughts (I have tried Topstep but haven't tried any of the others).

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
 
 
SBtrader82's Avatar
 SBtrader82   is a Vendor
 
Posts: 587 since Feb 2018
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hdge4u View Post
so i will answer this myself.

im leaning toward ONE UP because they are not as stringent on their rules as Top Step and i dont have to pay data fees. Also, are these really funded accounts, or just ponzi schemes using the monthly subscription money to pay off the few claims in the trader risk pool?

Concerning the Ponzi scheme, TopStep is definitely not a ponzi scheme. When you get funded the orders actually go to the market and are not "managed internally".

I asked OneUp whether the orders go to the market or not, they told me they manage the orders internally (what does this this mean?).

So draw your own conclusions.



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