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TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)


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TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)

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  #301 (permalink)
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Vincent Vega View Post
A question please.
If i made the combine profit target in less then 10 or 20 days,
can i send it for evaluation or i should continue trading
all the combine days(10/20 days)?

Thank you.

Vincent- You must complete all days of trading whether that be in a 10 day Combine or 20 Day Combine. This allows our scout team to get the info we need to present your performance to our equity partner (with confidence). One great day does not tell much about a trader. The more data the better.

mp

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  #302 (permalink)
 bobwest 
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TopstepTrader View Post
This allows our scout team to get the info we need to present your performance to our equity partner (with confidence). One great day does not tell much about a trader. The more data the better.

mp

Hi, Michael,

This answer gave me a question: if "the more data the better," would you guys feel more confident about a 20-day Combine compared to a 10-day? I know that you have had people get funded after a 10-day, but, ideally, which would be your preference?

Also, other things being equal, do you think that a successful 20-day performance would make you less likely to want someone to take the Live Trader Prep?

Another way to put this would be, which shows how prepared a trader is (other things being equal)?

I know that every case is different, and that you make your decisions on a case-by-case basis; I'm trying to figure out the next Combine I want to take. Your opinion about trader preparation will matter.

Thanks, this is a great program.

Bob.

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bobwest View Post
Hi, Michael,

This answer gave me a question: if "the more data the better," would you guys feel more confident about a 20-day Combine compared to a 10-day? I know that you have had people get funded after a 10-day, but, ideally, which would be your preference?

Also, other things being equal, do you think that a successful 20-day performance would make you less likely to want someone to take the Live Trader Prep?

Another way to put this would be, which shows how prepared a trader is (other things being equal)?

I know that every case is different, and that you make your decisions on a case-by-case basis; I'm trying to figure out the next Combine I want to take. Your opinion about trader preparation will matter.

Thanks, this is a great program.

Bob.

Bob- Ideally, the more data the better. Those that complete the 20 day Combine verse the 10 day Combine aren't necessarily better traders. They typically seem to be more patient traders which would ultimately give you a bit more confidence in that traders mental strength.

As for the traders that would be asked to particapate in Live Trader Preparation, this would be more due to inconsistency in their trading. Whether they were in a 10 day or 20 day does not matter.

Lastly, yes you are correct, each trader is a case by case situation as all traders are NOT created equal. I hope that sheds some light.

mp

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  #304 (permalink)
 Zondor 
Portland Oregon, United States
 
Experience: Beginner
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I am eager to begin my Combine, but first have a couple of questions.

Entering a Combine, I would have an expectation that of the Funded Traders already having met the various requirements, some number would have become financially self supporting through their trading.

Despite looking on the Topstep website and elsewhere, I have been unable to locate any information about what Topstep or PTP consider to be reasonable success metrics for their Funded Traders in terms of being able to make a living, or any information about the number of funded traders, if any, who are making enough money from their trading of Patak equity to live on. Kindly let me know where I might find this information.

On the Topstep website, The Start Your Combine Now link goes directly to a credit card payment page. I did not notice any terms and conditions to be read and agreed to, did not see an "I Agree" check box, and did not notice any disclosures specifically pertinent to participation in the Combine. Kindly advise what are the terms of the contractual relationship between a customer who pays for a Combine, and Topstep Trader?

Thank you for taking the time to consider these questions.

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 PK007 
South Africa
 
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Hi Michael,

Any plans yet to add eurex futures to the combine?

Thanks

Peter

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Zondor View Post
I am eager to begin my Combine, but first have a couple of questions.

Entering a Combine, I would have an expectation that of the Funded Traders already having met the various requirements, some number would have become financially self supporting through their trading.

Despite looking on the Topstep website and elsewhere, I have been unable to locate any information about what Topstep or PTP consider to be reasonable success metrics for their Funded Traders in terms of being able to make a living, or any information about the number of funded traders, if any, who are making enough money from their trading of Patak equity to live on. Kindly let me know where I might find this information.

On the Topstep website, The Start Your Combine Now link goes directly to a credit card payment page. I did not notice any terms and conditions to be read and agreed to, did not see an "I Agree" check box, and did not notice any disclosures specifically pertinent to participation in the Combine. Kindly advise what are the terms of the contractual relationship between a customer who pays for a Combine, and Topstep Trader?

Thank you for taking the time to consider these questions.


Sander- To answer your first question, we take the privacy of our funded traders very seriously and protect our talent from being poached, therefore we do not publicly announce how much money they are making in their live accounts. However, our Combine has helped more than 300 traders become funded through the equity partner, and 2-3 traders are becoming financially backed each week. We interview these traders each time they move to the funded level, so please feel free to stop in and check it out. You would then have the opportunity to ask any trader with a green L any questions you ask.

As a side note we are publicly interviewing a new funded trader today. The room is open to guests and the broadcaster does from time to time take questions from the chat room for the funded trader.

As for the second part, if you signed up with us, then you have already agreed to the Term and Conditions as stated when you click the submit button. Beyond that, we do not require our traders to click on an "I Agree" button for every purchase as the terms and conditions covers this from your original sign up.

When you sign in, on your dashboard on the TST website, you can click on the Combine Rules link to learn more about the parameters of the evaluation. And, I would definitely recommend signing up for an information phone call with a member of our team as that will help provide more clarity. We'd be happy to walk you through what the Combine means and answer any questions you might have.

I hope that helps.

mp

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PK007 View Post
Hi Michael,

Any plans yet to add eurex futures to the combine?

Thanks

Peter

PK007- We have spoken with them and are working on it. I have no date for you as of yet and it doesn't look like it will be anytime this quarter. We are in the hurry up and wait mode.

mp

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 dom64 
London, UK
 
Experience: Master
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Apologies if this was answered before, but I was wondering if data was made available when doing a combine? If so, which data source are you using/providing?

Is there a promotional code for futures.io (formerly BMT) members please?

Looking to join a combine today, but would just need those 2 questions answered.

Cheers

Dom

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  #309 (permalink)
 michaelf 
Mérida, Mexico
 
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dom64 View Post
Apologies if this was answered before, but I was wondering if data was made available when doing a combine? If so, which data source are you using/providing?

Is there a promotional code for futures.io (formerly BMT) members please?

Looking to join a combine today, but would just need those 2 questions answered.

Cheers

Dom

I have an additional question for @TopstepTrader, right now I'm working with IB, NT7 and Kinetick. When I want now open a combine do I have to change from the NT7 Single Broker licence to an Multi Broker licence and what about Kinetick, to I need it anymore or you give me the data?

thanks for your response

Michael

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dom64 View Post
Apologies if this was answered before, but I was wondering if data was made available when doing a combine? If so, which data source are you using/providing?

Is there a promotional code for futures.io (formerly BMT) members please?

Looking to join a combine today, but would just need those 2 questions answered.

Cheers

Dom

DOM- When in the Combine you will be trading in a real-time simulated market. All your trades are collected each day and uploaded to your trade report. Our scout team reviews trade reports that are following the rules and meeting or exceeding their profit target.

As for a promotional code for futures.io (formerly BMT) members. We do have this, please contact support@topsteptrader.com and they will help you out.

Hope that helps and trade well.

mp

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 dom64 
London, UK
 
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TopstepTrader View Post
DOM- When in the Combine you will be trading in a real-time simulated market. All your trades are collected each day and uploaded to your trade report. Our scout team reviews trade reports that are following the rules and meeting or exceeding their profit target.

As for a promotional code for futures.io (formerly BMT) members. We do have this, please contact support@topsteptrader.com and they will help you out.

Hope that helps and trade well.

mp


Thanks! I actually meant to ask whcih data feed is provided with the combine if any? Kinetic, IQ Feed, CQG..?

Many thanks!

Dom

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michaelf View Post
I have an additional question for @TopstepTrader, right now I'm working with IB, NT7 and Kinetick. When I want now open a combine do I have to change from the NT7 Single Broker licence to an Multi Broker licence and what about Kinetick, to I need it anymore or you give me the data?

thanks for your response

Michael

Michael- It is easiest if you have a multi-broker license. If you have a single-broker license, you will need to disconnect from our data feed and connect to another. We would provide you with the Rithimic data feed as well as the instructions on how to connect. Once that is in place we will receive all your trades while in the Combine.

If you have any further questions feel free to connect with Support at 1.888.407.1611 or support@topsteptrader.com

mp

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dom64 View Post
Thanks! I actually meant to ask whcih data feed is provided with the combine if any? Kinetic, IQ Feed, CQG..?

Many thanks!

Dom

Dom- Ok, sorry about that. The feed and connection is with Rithmic.

mp

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 traderlange 
NY NY
 
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I can honestly say that Top Step's combine works pretty flawlessly with NT. Any technical issues I've had in the combine have been on me. But my combine finishes today and I didn't pass. I have a sick habit of manually trading. And always loose. I don't have the discipline. But I know market structure, how to read it and have been a software engineer for 15 years now.(and I like math) I've just completed what I think are 3 brilliant multi time frame systems (2 trend based one swing catcher. very complex systems - in my eyes that is 1000's and 1000's of lines of code and a mongo DB for saving 100's of parameters to be analyses on each bar close - I could do this in NT but I use the data to train an SVM - which ill get to in a min).

Finally running these w/ out of sample and things are looking really good. Better than I've ever imagined. I'll never be 'finished' as they will need minor tuning as market conditions change (have a genetic algo fine tuning params in realtime). But I'm working with encog to build a SVM classification system to keep me out of the chop that kills automated systems - at least mine. It's different than most ML market predicting systems I've found online and also from research papers I've read. it's not ready yet, but looks very promising. ML's will never guess price, I'm just training it to let me know if the next swing will be HH, LH or DT and duration. Never a first signal, just a confirmation.

Off topic..sorry. But I'm starting a new Combine next week and will post a daily journal here will all charts and trades. And I will let any one of you cut off my fingers if I manually do any trades!! Lol. But I HIGHLY recommend Top Step. The folks I've worked with there are extremely helpful and want you to succeed. Im a fan. I'll be funded after my next combine. I've worked too hard to get where I am. This weekend I'm moving off of ATM's and writing better exit code with (local order manager) to effectively handle stops and profit targets. I've learned that the entry is about 25% of the trade. The rest is handling the trade and preserving capital. So I'll be coding a risk management system the weekend as well. Eh, who needs sleep? Anyway, Top Step, keep up the brilliant work! Thanks you! -mike l.

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  #315 (permalink)
 Yukoner 
Vancouver Island, Canada
 
Experience: Advanced
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I'll second what traderlange just posted. My experience with Topstep Trader (Nov 2013 to current) is that they are a professional company and a growing concern.
Yes, the metrics to trade by are restrictive (this isn't a bad thing), but it forces you to go into a combine with a game plan on how to win in that combine, while under serious time pressure. It also reminds you of what you can control in trading, and what you can't.

If I had to guess, I would say the style of trader they are searching for, is a trader with low risk parameters and who slowly builds up their account brick by brick. Regardless of the trading style, I highly recommend that people take a serious stab at passing a combine as it is amazing what you will learn about yourself.

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 traderlange 
NY NY
 
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Yukoner View Post
I'll second what traderlange just posted. My experience with Topstep Trader (Nov 2013 to current) is that they are a professional company and a growing concern.
Yes, the metrics to trade by are restrictive (this isn't a bad thing), but it forces you to go into a combine with a game plan on how to win in that combine, while under serious time pressure. It also reminds you of what you can control in trading, and what you can't.

If I had to guess, I would say the style of trader they are searching for, is a trader with low risk parameters and who slowly builds up their account brick by brick. Regardless of the trading style, I highly recommend that people take a serious stab at passing a combine as it is amazing what you will learn about yourself.

You nailed it right on the head. They are looking for people who can earn day in and day out. If only a couple hundred dollars. I love the fact that their trade parameters are so tight. This is only making me a better trader, well, quant. I just finished my combine today and failed with flying colors. And I have been trading every derivative there is for at least 10 years. Some years up, some years down. But mostly down. Thank god I can write any software program on any platform a client puts in front of me, or I'd be homeless. Lol. But I plan on making a living writing market trading strategies. And since I come from a m$ bg c/c++ and now c# .net (although I'm starting to love obj-c, games for ios mostly) NinjaTrader is a perfect platform for me. Been wanting to try multicharts. But it's the same thing. I use NT to compile indicators and strats. But use VS .net (at times com) for all my analytical programming. And I always test using market replay and few ticks slippage(back testing is fine, but not real). And I I've finally put together 3 systems that make me money day in and day out. Tried to manually do the combines, but like I said previously, I have no disciple and can't watch trades move that trigger(unless I down a bottle of klonopin - and that's never a good idea). But I watch my programs without hesitation. It's quite exiting actually since I've been at this for so long. But I've always said, to be one of the best at anything it's a 10 year process. But I'm the kind of person who doesn't dip their toe in the water. If im going to do something, I'm going to do it the very best I can and work extremely hard almost to the point of obsession. Unfortunately vie been half ass trading up until a few years ago (luckily I have good clients). Then decided to take it very serious. And now, it will pay off. I will pass the 150K 10'day combine in a few weeks. I think I'm going to start Wednesday. I need about another 5 days of coding for the trade and risk management programs. ATMs just don't just don't cut it for me. They are powerful manual trading tools. But for automation, I'm just going to have to write it custom to the strats and current price action. Sorry, I do ramble. back to top step. If you think you can trade, but just can't seem to go from am to pro, start forcing yourself to follow tight parameters to be consistent. And the Top Step combines are helping me archive this in my programs. And there is always something new to learn. My next programs will be stat arb strategies. These 3 are liner multi time frame and multi data structure (range/volume/renko) price action predictors. Although I am starting to incorporate some unique ideas I have for AI and ML integration. I'll be posting some of my tools here soon as I've gained a lot of knowledge from the pros that program indys and talk shop in this form. And want to pay it forward. Anyway Yukoner keep up the good work with top step and I'll be joining the team soon!!

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 DarkPoolTrading 
PTA, Gauteng
 
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traderlange View Post
You nailed it right on the head. They are looking for people who can earn day in and day out. If only a couple hundred dollars. I love the fact that their trade parameters are so tight. This is only making me a better trader, well, quant. I just finished my combine today and failed with flying colors. And I have been trading every derivative there is for at least 10 years. Some years up, some years down. But mostly down. Thank god I can write any software program on any platform a client puts in front of me, or I'd be homeless. Lol. But I plan on making a living writing market trading strategies. And since I come from a m$ bg c/c++ and now c# .net (although I'm starting to love obj-c, games for ios mostly) NinjaTrader is a perfect platform for me. Been wanting to try multicharts. But it's the same thing. I use NT to compile indicators and strats. But use VS .net (at times com) for all my analytical programming. And I always test using market replay and few ticks slippage(back testing is fine, but not real). And I I've finally put together 3 systems that make me money day in and day out. Tried to manually do the combines, but like I said previously, I have no disciple and can't watch trades move that trigger(unless I down a bottle of klonopin - and that's never a good idea). But I watch my programs without hesitation. It's quite exiting actually since I've been at this for so long. But I've always said, to be one of the best at anything it's a 10 year process. But I'm the kind of person who doesn't dip their toe in the water. If im going to do something, I'm going to do it the very best I can and work extremely hard almost to the point of obsession. Unfortunately vie been half ass trading up until a few years ago (luckily I have good clients). Then decided to take it very serious. And now, it will pay off. I will pass the 150K 10'day combine in a few weeks. I think I'm going to start Wednesday. I need about another 5 days of coding for the trade and risk management programs. ATMs just don't just don't cut it for me. They are powerful manual trading tools. But for automation, I'm just going to have to write it custom to the strats and current price action. Sorry, I do ramble. back to top step. If you think you can trade, but just can't seem to go from am to pro, start forcing yourself to follow tight parameters to be consistent. And the Top Step combines are helping me archive this in my programs. And there is always something new to learn. My next programs will be stat arb strategies. These 3 are liner multi time frame and multi data structure (range/volume/renko) price action predictors. Although I am starting to incorporate some unique ideas I have for AI and ML integration. I'll be posting some of my tools here soon as I've gained a lot of knowledge from the pros that program indys and talk shop in this form. And want to pay it forward. Anyway Yukoner keep up the good work with top step and I'll be joining the team soon!!

Hope you don't format your code like you format your posts

But I agree, TST is a great company and the way they've structured their combines in terms of risk parameters forces you to become a better trader. No doubt about that. There is absolutely no way you're getting through those combines unless you're on top of all aspects of your game from money management to psychology to market understanding to...etc

Good luck with your next combine.

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  #318 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
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Still looking forward to giving this a whirl someday


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  #319 (permalink)
 Theodutchtrader 
Maastricht, The netherlands
 
Experience: Beginner
Platform: Ninjatrader and Multicharts
Trading: ES,NQ.YM and dutch stocks
 
Posts: 15 since Nov 2011
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Does anybody have information how you as a junior or seniortrader be paid? Is this ones a month or two times a months.
I can't find any information on the site of topsteptrader.

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 traderlange 
NY NY
 
Experience: Advanced
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DarkPoolTrading View Post
Hope you don't format your code like you format your posts

But I agree, TST is a great company and the way they've structured their combines in terms of risk parameters forces you to become a better trader. No doubt about that. There is absolutely no way you're getting through those combines unless you're on top of all aspects of your game from money management to psychology to market understanding to...etc

Good luck with your next combine.

Hahah! As I look at that, the formatting is pretty rough. One big massive sentence. And thank you! I hope I do better too. Just have to stick to my strategies and never manually click buy/sell. Let me tell you, that's tough while watching charts. But I'm going to do it. Also writing a daily journal on the combine i just started yesterday. The hope I don't screw up log. Cheers!

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 traderlange 
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Theodutchtrader View Post
Does anybody have information how you as a junior or seniortrader be paid? Is this ones a month or two times a months.
I can't find any information on the site of topsteptrader.


Visit this page https://www.topsteptrader.com:443/learnmore and scroll down to "Funded Trader Account Details". This is also a good resource for just that info. Funded Trader ? Help & Feedback Center

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 bobwest 
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Theodutchtrader View Post
Does anybody have information how you as a junior or seniortrader be paid? Is this ones a month or two times a months.
I can't find any information on the site of topsteptrader.

Hi, I'm not anyone who can answer officially for TsT, but I recall that the question has come up a few times on the Friday Squawk broadcast they to with Michael Patak, and here is what I have understood. Note that anything I write is not official, but I think it's right:

1. Junior traders cannot take withdrawals from the account.

2. They become senior when they have accumulated their required account balance (which varies based on the Combine they passed to become funded), if they also do not lose more than their maximum trailing drawdown and meet the other performance standards.

3. Once they are seniors, it is up to them to decide when to ask for a withdrawal. Once they ask for one, TsT will take its share from the withdrawn amount and send them their share, based on the profit split in effect. Initially, the trader gets 60% and TsT gets 40; as the amount of profit the trader has made goes up, the split gets better for him -- first to 70/30 and then to 80/20. The web site has details.

4. Payouts, if requested, are made twice a month, on the first and the fifteenth.

5. If a junior trader has a positive profit balance but fails to meet one of the other requirements before going senior, his account is closed and TsT sends him the amount due him based on his split (which will be 60%).

Remember, I am not speaking for TopstepTrader, but these are the rules as I understand them. Perhaps @TopstepTrader can check me on this.

Bob.

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 joselopezde 
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Any news on making EUREX products available for the combine?

I remember you had them before

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joselopezde View Post
Any news on making EUREX products available for the combine?

I remember you had them before

Joselopezde- We are working to get Eurex but do not have a date this will be available. Once we move further along in our discussions with them, I will provide a better update.

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nemeis45
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Is the data you provide through the TST program - the real time quotes, delayed?
Is it unfiltered data from the exchange?

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 Daytrader999 
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nemeis45 View Post
Is the data you provide through the TST program - the real time quotes, delayed?
Is it unfiltered data from the exchange?

TST uses Rithmic data feed.

There's no delay on the quotes because otherwise you won't be able to trade your Combine account properly.

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  #327 (permalink)
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hi all;

TST has changed it's profit target (decreased it) recently .

1- which parameters of a combine can be customized ?(daily loss limit ,etc...)
2-some one said that draw down is twice the daily loss limit. in 150k combine it's not true.it seems 30k combine has the best parameters of a maximum draw down .is it possible to set draw down of a 150k account twice of daily loss limit too ?

Thanks

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 daytrader07 
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Is the 20 day combine gone? I only see 10 days on the site.

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 sands 
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Is it possible to hold positions overnight or is the program limited to intra-day only?

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sands View Post
Is it possible to hold positions overnight or is the program limited to intra-day only?

as their website says :if you want to hold overnight positions, you should close open positions manually before end of trading day and re open it after that manually when market is open again

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 Scalpingtrader 
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daytrader07 View Post
Is the 20 day combine gone? I only see 10 days on the site.

jep. it's 10 days only from now on (unless you did a 20 day combine before the change, which you would know as you would've gotten an e-mail in that regard)
however the profit goals were lowered so that it's easier to meet the combine targets even within 10 days.


sands View Post
Is it possible to hold positions overnight or is the program limited to intra-day only?

intraday only. check here for detailes information regarding allowed products and times.

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 bobwest 
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daytrader07 View Post
Is the 20 day combine gone? I only see 10 days on the site.

Yes, they have changed to a standard 10-day period. (People who have previously done 20-day Combines have been grandfathered in, and can still do them; there was an email on this sent to those who qualify.)

Discussion by Michael Patak is in another thread here:



You can still set up a custom combine for 20 days (or more!) if you request it and if it is approved:


TopstepTrader View Post
Lastly, traders can and always will be able to contact us to customize a Trading Combine which will allow them to have 20 or more trading days. Customizing allows us to work with anyone to find the account parameters, duration and objective that best fits with their trading to ensure everyone has an equal opportunity for success.

Hope that clarifies things a bit.

mp

It's worth checking out the discussion on that thread to fill in the details.

Hope this sheds some light....

Bob.

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Theodutchtrader View Post
Does anybody have information how you as a junior or seniortrader be paid? Is this ones a month or two times a months.
I can't find any information on the site of topsteptrader.

Theodutchtrader- Senior traders can take withdraws up to twice per month. Sorry for the delay. I had overlooked this thread as I wasn't subscribed for the notifications.

mp

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All,

I wanted to officially announce that we have lowered the profit targets as listed in the email/image below that went out on Friday to those in the TopsepTrader community.

I am very excited about this for a couple reasons, first I am a trader and feel these are very achievable with discipline, patience and a good trading plan. Second, with the exceptional performance this year from our Funded Traders we are able to get more approved by our Equity Partner.

Contact support@topsteptrader.com or 888.407.1611 with any questions.

Trade well and always trade for tomorrow.

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Scalpingtrader View Post
jep. it's 10 days only from now on (unless you did a 20 day combine before the change, which you would know as you would've gotten an e-mail in that regard)
however the profit goals were lowered so that it's easier to meet the combine targets even within 10 days.



intraday only. check here for detailes information regarding allowed products and times.

Scalpingtrader- We still have the 20 day option available to anyone. We just stream lined what is displayed on the site as first time vistiors were getting confused with multiple options and most funded traders come from the 10 day Combine.

You would need to contact us to customize your Combine if you want a duration that is 20 days or longer.

Hope that helps.

mp

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 Big Mike 
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Tip


There will be a Live AMA session with Michael Patak of TopstepTrader on Wednesday, June 25th @ 12:00 PM ET.

- Quick and casual, 30 minute cap
- No prepared presentation
- Live screen sharing
- Floor will be opened immediately to questions
- Recording uploaded to AMA thread afterwards
- Attend live to get your questions answered

The link for the event is:
https://www3.gotomeeting.com/register/511677702




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 Big Mike 
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Reminder for tomorrow's AMA.

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 Big Mike 
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Reminder for today's AMA.

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 Big Mike 
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The AMA is now open.

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 Big Mike 
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I want to thank Michael Patak @TopstepTrader for today's AMA. Below is the recording:



Mike

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Turveyd
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Okay looked into the rules some more, most are actually fine with me :-

I don't trade at that time, I don't over night hold, I don't hold over major news events ( I sometimes miss 1, I'd have to be more careful ), I always run a SL.

But......

I trade GBPAUD and DAX I see DAX isn't available not checked GPBAUD side yet.
Although I only run a 15-25SL tops, I do as part of my strategy take a 2nd position frequently, but not always @-7 to -10 area, I could not do it, but it would reduce my profits, would this be allowed or OUT ??

Also for the Combine, there is a Deposit $190 what's that, do I have to pay that in order to do 1 ??


Thanks

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 jerbersoft 
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any plans to use/integrate TTNET to TST platforms? as a scalp trader in Asia, it would be better to be able to connect to the nearest servers to minimize latency. how about X_TRADER as a platform? any plans to include them? TIA

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Turveyd View Post
Okay looked into the rules some more, most are actually fine with me :-

I don't trade at that time, I don't over night hold, I don't hold over major news events ( I sometimes miss 1, I'd have to be more careful ), I always run a SL.

But......

I trade GBPAUD and DAX I see DAX isn't available not checked GPBAUD side yet.
Although I only run a 15-25SL tops, I do as part of my strategy take a 2nd position frequently, but not always @-7 to -10 area, I could not do it, but it would reduce my profits, would this be allowed or OUT ??

Also for the Combine, there is a Deposit $190 what's that, do I have to pay that in order to do 1 ??


Thanks

Turveyd- The British Pound (6H) is a permitted product in the Combine. As for the Combine deposit, yes all traders that enter must pay this.

futures.io (formerly BMT) elite's receive a discount on their first Combine.

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jerbersoft View Post
any plans to use/integrate TTNET to TST platforms? as a scalp trader in Asia, it would be better to be able to connect to the nearest servers to minimize latency. how about X_TRADER as a platform? any plans to include them? TIA

jerbersoft- As demand increases we will add more platforms. X Trader is on our list of platforms to add. Due to demand it is a lower priority at this time.

mp

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Turveyd
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TopstepTrader View Post
Turveyd- The British Pound (6H) is a permitted product in the Combine. As for the Combine deposit, yes all traders that enter must pay this.

futures.io (formerly BMT) elite's receive a discount on their first Combine.

mp


A bit odd, everything else is free free free free free, but you have to pay to basically try out for a live account.

Anyone know anyone on here who's passed and making money from them ??

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 Big Mike 
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Turveyd View Post
A bit odd, everything else is free free free free free, but you have to pay to basically try out for a live account.

Anyone know anyone on here who's passed and making money from them ??

If you would spend a few minutes searching you will find all your questions answered. There are probably 100+ journals on futures.io (formerly BMT) with traders in Combines, many of which were funded over the years.

On your "free, free, free" comment, I admit I laughed because I relate it to futures.io (formerly BMT). I created the Elite Member system on futures.io (formerly BMT) to prevent the site from becoming like other forums, overrun with trolls who have no vested interest in the community they are posting in. On futures.io (formerly BMT), almost everyone that is an active member is an Elite Member which means they invested money in the community, and that goes a long way to weed out all of those who aren't serious. That is also why there is more Elite-only content than non-Elite content on the site, tucked away and hidden from view from non-Elite Members.

Anyway, the point is simply that if TST had a "free" model, they would be overwhelmed with people who have no business trading and that don't treat it seriously. Not to mention their system could then be gamed since you have no monetary investment in your success. A terrible idea that has been covered before many times on futures.io (formerly BMT).

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 Big Mike 
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@Turveyd,

After reviewing your journal:



I would strongly, strongly advise you against doing a combine at this time. You have a large number of problems with your trading that you should attempt to resolve on your own before doing and then failing a combine.

I do commend you for having a journal. I will post a comment in your journal with something that may help you in a moment.

Mike

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  #348 (permalink)
Turveyd
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Big Mike View Post
If you would spend a few minutes searching you will find all your questions answered. There are probably 100+ journals on futures.io (formerly BMT) with traders in Combines, many of which were funded over the years.

On your "free, free, free" comment, I admit I laughed because I relate it to futures.io (formerly BMT). I created the Elite Member system on futures.io (formerly BMT) to prevent the site from becoming like other forums, overrun with trolls who have no vested interest in the community they are posting in. On futures.io (formerly BMT), almost everyone that is an active member is an Elite Member which means they invested money in the community, and that goes a long way to weed out all of those who aren't serious. That is also why there is more Elite-only content than non-Elite content on the site, tucked away and hidden from view from non-Elite Members.

Anyway, the point is simply that if TST had a "free" model, they would be overwhelmed with people who have no business trading and that don't treat it seriously. Not to mention their system could then be gamed since you have no monetary investment in your success. A terrible idea that has been covered before many times on futures.io (formerly BMT).

Mike

Difference from a one off fee to something that may take 5 attempts costing $1000, but yes you do have to limit time wasters.

DAX would swing it, mainly best mover and they put in protection with delays from HFT trades I believe.

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  #349 (permalink)
 tturner86 
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Turveyd View Post
Difference from a one off fee to something that may take 5 attempts costing $1000, but yes you do have to limit time wasters.

DAX would swing it, mainly best mover and they put in protection with delays from HFT trades I believe.

Still better to spend $1000 attempting the combine and realize you can't trade, then to blow a $10k-$25k account out to come to the same conclusion.

TST combine provides you a way to mix sim and real. Your deposit means that you have skin in the game more then demo, but less then funding an account.

If I could do it over again I would have done TST first.

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Turveyd
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tturner86 View Post
Still better to spend $1000 attempting the combine and realize you can't trade, then to blow a $10k-$25k account out to come to the same conclusion.

TST combine provides you a way to mix sim and real. Your deposit means that you have skin in the game more then demo, but less then funding an account.

If I could do it over again I would have done TST first.

I ownly started with the $300 to fund the account then added $100 when needed ( frequently at first ), I'm around Break Even here, not bad for 9years of grief

Sure be worth it, if I can withdraw $5000 per month and keep my own account growing at the same time.


Need a holiday first though!

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  #351 (permalink)
TraderJim618
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Hi Michael (@ TopStep) ... I am a multi-instrument quant trader, trading: the indicies, metals, energies, grains, and currency futures. Quite some time ago, I inquired about a combine, and discovered that a combine account would be required to be traded as a 'professional account'. Therefore I would be responsible for paying all of the related monthly exchange fees with both a combine, and funded account. Is that correct? Off the top of my head, those exchange fees would amount to somewhere around $500-600/month. If that is the case, isn't there some type of work-around you folks could arrange?

Thanks in advance,

Jim

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 Scalpingtrader 
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Just because the thought crossed my mind:

a) Income from trading a funded account becomes usually tax relevant only once its deposited?
b) there is no taxation of the account balance without a deposit ie no annual capital gain tax to be paid on the balance?

I understand you can not give an official binding statement for a) cause it's probably country- and individual-dependent and you are no tax consultant. But a share of.. "experience" would be appreciated there, anyhow.

b) is pretty straightforward I guess & it shouldnt be a problem to give a statement on that.

Thanks in advance
ST

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TraderJim618 View Post
Hi Michael (@ TopStep) ... I am a multi-instrument quant trader, trading: the indicies, metals, energies, grains, and currency futures. Quite some time ago, I inquired about a combine, and discovered that a combine account would be required to be traded as a 'professional account'. Therefore I would be responsible for paying all of the related monthly exchange fees with both a combine, and funded account. Is that correct? Off the top of my head, those exchange fees would amount to somewhere around $500-600/month. If that is the case, isn't there some type of work-around you folks could arrange?

Thanks in advance,

Jim

Jim- The Trading Combine has one cost which includes everything you need to showcase your trading.

Once you are at the funded level the exchange fees are passed through to the trader. Most funded traders pay no more than $85/month. Though, this does all depend on how many exchanges you want data from.

I hope that helps.

mp

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Just because the thought crossed my mind:

a) Income from trading a funded account becomes usually tax relevant only once its deposited?
b) there is no taxation of the account balance without a deposit ie no annual capital gain tax to be paid on the balance?

I understand you can not give an official binding statement for a) cause it's probably country- and individual-dependent and you are no tax consultant. But a share of.. "experience" would be appreciated there, anyhow.

b) is pretty straightforward I guess & it shouldnt be a problem to give a statement on that.

Thanks in advance
ST

Scalpingtrader- Since the trader is treated and considered an independent contractor, they are taxed on the money they receive from their equity partner. Money received would be withdraw requests.

That is the best I can answer tax related questions. I would seek a professional tax advisor if you have further questions.

mp

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 Scalpingtrader 
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Scalpingtrader- Since the trader is treated and considered an independent contractor, they are taxed on the money they receive from their equity partner. Money received would be withdraw requests.

That is the best I can answer tax related questions. I would seek a professional tax advisor if you have further questions.

mp

wouldn't expect more, thanks

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 PK007 
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Scalpingtrader- Since the trader is treated and considered an independent contractor, they are taxed on the money they receive from their equity partner. Money received would be withdraw requests.
mp

I was also wondering about this. So, in other words, if a trader doesn't take any withdrawals in the first few years and just build equity, he/she won't pay any tax during that period? Only the withdrawal is seen as income in the hands of the trader not the profits made in the trading account?

I asked my accountant, but he wasn't sure, so I guess I need to change accountants!

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 tturner86 
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PK007 View Post
I was also wondering about this. So, in other words, if a trader doesn't take any withdrawals in the first few years and just build equity, he/she won't pay any tax during that period? Only the withdrawal is seen as income in the hands of the trader not the profits made in the trading account?

I asked my accountant, but he wasn't sure, so I guess I need to change accountants!

What matters is if your name is on the account. If it is then you should be liable for profits. If not then you are liable as a contractor when they 'pay' you.

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 bobwest 
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Scalpingtrader- Since the trader is treated and considered an independent contractor, they are taxed on the money they receive from their equity partner. Money received would be withdraw requests.

That is the best I can answer tax related questions. I would seek a professional tax advisor if you have further questions.

mp


PK007 View Post
I was also wondering about this. So, in other words, if a trader doesn't take any withdrawals in the first few years and just build equity, he/she won't pay any tax during that period? Only the withdrawal is seen as income in the hands of the trader not the profits made in the trading account?

I asked my accountant, but he wasn't sure, so I guess I need to change accountants!

I am definitely not an accountant, or even someone very knowledgeable in taxes or accounting, so anyone who would take my ideas on the subject as good advice would have to be crazy.

That said, I have worked as an independent contractor over several years. In the US, which is all I know, a contractor will receive a Form 1099 at the end of the year from whomever he/she did work for. This is also sent to the IRS as a report of your earnings. Now, I was not getting paid for trading; I was a contract computer programmer. But as a contractor, I got paid when (and if) they finally cut a check to pay the invoice I sent them.

No matter how much work I had done, or what I had billed them for, it wasn't my money until they paid it out. That's when I had a tax liability. Figure that you're in business for yourself, and you don't have any income in your business until you get paid for your goods or services.

Does this translate well to the TsT trader's situation? Well, ahem, "seek a professional tax advisor"....

Bob.

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 bobwest 
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tturner86 View Post
What matters is if your name is on the account. If it is then you should be liable for profits. If not then you are liable as a contractor when they 'pay' you.

Just saw that you answered the question in a much shorter way than I did.

Bob.

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 PK007 
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What matters is if your name is on the account. If it is then you should be liable for profits. If not then you are liable as a contractor when they 'pay' you.

For me, the issue is on the remaining equity in the account. I don't mind paying the taxman what he deserves to get. But, if you can (legally) delay paying taxes, it gives you more time to increase the equity in your account, and therefore higher possible income in the future.

The issue is explaned as follows: If you make $100,000 as an example for a period, your share is 80% (just to keep it simple, I'll use 80%, but in fact you start at 60% and work your way up to 80%). If you then have to pay 30% tax on $80,000, you will have to withdraw $24,000 from the account. According to the TST rules, if you withdraw $24,000, TST will also withdraw the same ammount (is this correct Michael?). In this case, their share is limited to $20,000.

Which means, your account balance will reduce to $56,000 ($100,000 - $24,000 - $20,000 = $56,000). Now, does that mean your lot size will also have to be reduced by 44%? Since the margin available in the account has reduced?
If this is the case, it will take considerably longer to build equity, if you have to withdraw that much every few months.

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 Daytrader999 
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PK007 View Post
The issue is explaned as follows: If you make $100,000 as an example for a period, your share is 80% (just to keep it simple, I'll use 80%, but in fact you start at 60% and work your way up to 80%). If you then have to pay 30% tax on $80,000, you will have to withdraw $24,000 from the account. According to the TST rules, if you withdraw $24,000, TST will also withdraw the same ammount (is this correct Michael?). In this case, their share is limited to $20,000.

Which means, your account balance will reduce to $56,000 ($100,000 - $24,000 - $20,000 = $56,000). Now, does that mean your lot size will also have to be reduced by 44%? Since the margin available in the account has reduced?
If this is the case, it will take considerably longer to build equity, if you have to withdraw that much every few months.

IMHO, if you make $100k in your TST account and withdraw say $80k, you have to deduct your taxes from the $80k you've taken out of your account.

And as a result, your account balance decreases by $80k, completely independent of what you'll have to give to your local (country-dependent) taxman...

And I think it depends on your negotiations whether or not your buying power will reduce linear according to the amount of $$ you've taken out of your account.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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 tturner86 
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PK007 View Post
For me, the issue is on the remaining equity in the account. I don't mind paying the taxman what he deserves to get. But, if you can (legally) delay paying taxes, it gives you more time to increase the equity in your account, and therefore higher possible income in the future.

The issue is explaned as follows: If you make $100,000 as an example for a period, your share is 80% (just to keep it simple, I'll use 80%, but in fact you start at 60% and work your way up to 80%). If you then have to pay 30% tax on $80,000, you will have to withdraw $24,000 from the account. According to the TST rules, if you withdraw $24,000, TST will also withdraw the same ammount (is this correct Michael?). In this case, their share is limited to $20,000.

Which means, your account balance will reduce to $56,000 ($100,000 - $24,000 - $20,000 = $56,000). Now, does that mean your lot size will also have to be reduced by 44%? Since the margin available in the account has reduced?
If this is the case, it will take considerably longer to build equity, if you have to withdraw that much every few months.

Consult TST and an accountant. But I know in the US you have 3 years to file. So when 2014 is done, I have up till 2017 to file my taxes for that year.

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 Daytrader999 
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tturner86 View Post
But I know in the US you have 3 years to file. So when 2014 is done, I have up till 2017 to file my taxes for that year.

Are you kidding ? That would be kind of science fiction in Germany...or in other words, they would just estimate your income for the last year.

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 tturner86 
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Are you kidding ? That would be kind of science fiction in Germany...or in other words, they just would estimate your income.

No. In the US you have 3 years to file an income tax or claim income. I have done so from time to time, so I can carry a loss into a different year.

You can also claim a loss on a business for upto 5 years, after that you will have to show some kind of profit or it will be labeled a hobby. Used this a few times as well.

Again always talk to a professional before anything.

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 PK007 
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Daytrader999 View Post
IMHO, if you make $100k in your TST account and withdraw say $80k, you have to deduct your taxes from the $80k you've taken out of your account.

And as a result, your account balance decreases by $80k, completely independent of what you'll have to give to your local (country-dependent) taxman...

And I think it depends on your negotiations whether or not your buying power will reduce linear according to the amount of $$ you've taken out of your account.

In my example,you would only withdaw the tax amount.

But nevermind, the questions that remain:

When will the income be taxable in the account holder's name:
1. When you make the profits or
2. When you do a withdrawal

In terms of your TST agreement:
1. Will TST reduce your lot size when you make withdrawals

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 Daytrader999 
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tturner86 View Post
No. In the US you have 3 years to file an income tax or claim income. I have done so from time to time, so I can carry a loss into a different year.

You can also claim a loss on a business for upto 5 years, after that you will have to show some kind of profit or it will be labeled a hobby. Used this a few times as well.

Again always talk to a professional before anything.

In Germany you've got a maximum of one year (after govt approval) to state your last year's income, and you've got only one year as well to carry your losses to the next year.

Overall this is quite a good solution for startups and young / small firms.

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 Daytrader999 
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PK007 View Post
But nevermind, the questions that remain:

When will the income be taxable in the account holder's name:
1. When you make the profits or
2. When you do a withdrawal

In my understanding, since you work as a contractor for TST, definitely #2 is the answer.

But don't get me wrong, I'm NOT a tax advisor, especially not for US taxes and IRS affairs.

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 PK007 
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tturner86 View Post
No. In the US you have 3 years to file an income tax or claim income. I have done so from time to time, so I can carry a loss into a different year.

You can also claim a loss on a business for upto 5 years, after that you will have to show some kind of profit or it will be labeled a hobby. Used this a few times as well.

Again always talk to a professional before anything.


I used to be a tax accountant many moons ago, but unfortunately never dealt with trading related taxes.

In terms of paying taxes in advance, in South Africa, corporations and contractors in general need to pay provisional tax every 6 months for the current year (depending on turnover). Doesn't matter when you file your tax return. You therefore need to make an estimate of your last 6 month's profits and pay tax on that which will reduce the final payment you need to make when you file your return in the future.
When you eventually do file your return, and you've underpaid provisional tax by a certain percentage, you will have to pay penalties.
Death and taxes...

I am not qualified (anymore, in any country) to give tax advise, so ask your tax advisor.

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 PK007 
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Daytrader999 View Post
In my understanding, since you work as a contractor for TST, definitely #2 is the answer.

But don't get me wrong, I'm NOT a tax advisor, especially not for US taxes and IRS affairs.

I hope that is the case. It makes more sense.

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 bobwest 
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PK007 View Post
For me, the issue is on the remaining equity in the account. I don't mind paying the taxman what he deserves to get. But, if you can (legally) delay paying taxes, it gives you more time to increase the equity in your account, and therefore higher possible income in the future.

The issue is explaned as follows: If you make $100,000 as an example for a period, your share is 80% (just to keep it simple, I'll use 80%, but in fact you start at 60% and work your way up to 80%). If you then have to pay 30% tax on $80,000, you will have to withdraw $24,000 from the account. According to the TST rules, if you withdraw $24,000, TST will also withdraw the same ammount (is this correct Michael?). In this case, their share is limited to $20,000.

Which means, your account balance will reduce to $56,000 ($100,000 - $24,000 - $20,000 = $56,000). Now, does that mean your lot size will also have to be reduced by 44%? Since the margin available in the account has reduced?
If this is the case, it will take considerably longer to build equity, if you have to withdraw that much every few months.


Daytrader999 View Post
IMHO, if you make $100k in your TST account and withdraw say $80k, you have to deduct your taxes from the $80k you've taken out of your account.

And as a result, your account balance decreases by $80k, completely independent of what you'll have to give to your local (country-dependent) taxman...

And I think it depends on your negotiations whether or not your buying power will reduce linear according to the amount of $$ you've taken out of your account.

Hi @PK007,

Your point makes sense, but fortunately there is -- at least as I understand it -- a mistaken assumption.

Although you have "made" -- in the sense of, created by your trading -- the $100,000 in "your" account, it is not actually your account, as in, your money. It is part of the capital of the firm you are trading for. It is theirs. You own none of it.

Since it's part of their earnings, the company has a tax liability on the profits that are in the account. After all, it's theirs. You have no liability, since it's not your money.

Now, suppose you want to have some of it. Because of the agreement you have with TsT, you can request a withdrawal, and at that time, they will withdraw the amount you specify, then take the 80/20 split, send you the 80% and keep the 20% of the total withdrawal amount.

(So if you want to receive a specific amount, say 30,000, you have to request a total withdrawal that is large enough that you will get 30,000 after the split. For example, for you to get 30,000, you request that they withdraw 37,500. 37,500 x .8 = 30,000 for you, 37,500 x .2 = 7,500 for them.)

At that time, you have received some money, at last, and so you will have to pay tax on it. You will not have to pay tax on it before they withdraw it from the account, because you will not have received anything yet.

It's important to not think of this as "your" account, like your personal retail account that they have been nice enough to fund for you. It's firm capital and the profits on firm capital. You get paid a percentage of that, per your agreement and not as a matter of ownership, and when you do, you have a tax bill. You have no ownership interest in the account itself, just in what is paid to you under the agreement, and only when it is paid, because that's the only time you actually own any of it.

So, that's what Michael said:


TopstepTrader View Post
Scalpingtrader- Since the trader is treated and considered an independent contractor, they are taxed on the money they receive from their equity partner. Money received would be withdraw requests.

That is the best I can answer tax related questions. I would seek a professional tax advisor if you have further questions.

mp

I hope I didn't beat on this poor dead horse too hard. If I did, I'm sorry.

But the point that you only have income from this account when you are paid by TsT for trading it, is pretty important.

Bob.

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 PK007 
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Hi @PK007,

I hope I didn't beat on this poor dead horse too hard. If I did, I'm sorry.

But the point that you only have income from this account when you are paid by TsT for trading it, is pretty important.

Bob.

Thanks for your post Bob. Very well explained.

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 Scalpingtrader 
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@TopstepTrader

Will the new ninjatraderbrokerage affect the availability of ninjatrader in

a) the combine
b) the live account

in any negative way?

Regards
ST

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@TopstepTrader

Will the new ninjatraderbrokerage affect the availability of ninjatrader in

a) the combine
b) the live account

in any negative way?

Regards
ST

Scalpingtrader- Currently, I have been told this will not affect anything with our recruits or traders. If this changes I will update you all.

mp

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All,

We were invited by Optimus Trading Group to speak about the Characteristics of Successful Traders through our team's observation over the last 4 years. Both John Hoagland, Director of Trader Development, and I will be speaking.

It starts at 3:30pm CST. If you are interested in tuning in here is a link:

https://tradingroom.clickwebinar.com/Characteristics_of_Success__Observations_from_TopstepTrader/register?inf_contact_key=eb994c184a941ba8d27bb998d14dcfc08fa7cac3229a3e2f564872b012d4faaa

It should be a good discussion.

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 CFuture 
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Zondor View Post
Despite looking on the Topstep website and elsewhere, I have been unable to locate any information about what Topstep or PTP consider to be reasonable success metrics for their Funded Traders in terms of being able to make a living, or any information about the number of funded traders, if any, who are making enough money from their trading of Patak equity to live on. Kindly let me know where I might find this information..

I didn´t find this most important question about the actual number and financial success of consistantly profitable fulltime traders "for a living" at topstep answered. So how many funded traders actually are able to make a living fulltime trading with topstep (average 4 digit withdrawals per month, no total performance numbers/breach of privacy needed, just how many are able to earn a salary-like return on the efforts)?

How much time does a profitable and willing fulltime-trader, that is able to meet all combine requirements, have to invest in average at topstep 1.) till being funded and 2.) to reach this, in average monthly 4-digit withdrawal goal? I am shure you watch these metrics closely and are able to show by numbers that the intended win-win partnership really works out for those seriously dedicated to work with topstep.

The live trader´s prep after the combine seems to be something that is decided by the full discretion of topstep, necessity and duration, right?


These would be the most important metrics for me after wasting my own money and time to learn the game before willing to invest even more time and money to get funded as prop/hedgefund trader without fixed income.

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 Big Mike 
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Instead of focusing on what others are doing, may I suggest you focus on yourself.

I've said from the beginning that I personally find the true value in TST to be the discipline of the program, its structure, its reporting, etc. Not in being funded.

Going through the program forces you to trade in a structured way, something most people will benefit from enormously.

After completing it, you should have an excellent idea where your strengths and weaknesses lie.

Even if you pass the combine, I believe the greatest "prize" is for yourself and not for the funding. I do know that a lot of people disagree with me, but personally I believe those people are too focused on the money and not enough on the discipline.

With discipline and structure, a trader can make a respectable living in time, even with a small account (of their own money).

Mike

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Big Mike View Post
Instead of focusing on what others are doing, may I suggest you focus on yourself.

I've said from the beginning that I personally find the true value in TST to be the discipline of the program, its structure, its reporting, etc. Not in being funded.

Going through the program forces you to trade in a structured way, something most people will benefit from enormously.

After completing it, you should have an excellent idea where your strengths and weaknesses lie.

Even if you pass the combine, I believe the greatest "prize" is for yourself and not for the funding. I do know that a lot of people disagree with me, but personally I believe those people are too focused on the money and not enough on the discipline.

With discipline and structure, a trader can make a respectable living in time, even with a small account (of their own money).

Mike

We would agree with Big Mike. We don't promote the herd mentality since trading really is an individualized sport. We tend not to speak of our funded traders as a group because in the end, how they're performing is in no way indicative of you how you'll perform.

TopstepTrader provides the opportunity but cannot guarantee the outcome. On average, we fund 2-3 traders per week, but we don't give details of their earnings as that is private information.

We have an open free chat room that has hundreds of traders from guest, to those in the Combine and Funded that you are more than welcome to ask for more details. https://www.topsteptrader.com:443/chat

I hope that helps.

mp

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All,

We were invited by Optimus Trading Group to speak about the Characteristics of Successful Traders through our team's observation over the last 4 years. Both John Hoagland, Director of Trader Development, and I will be speaking.

It starts at 3:30pm CST. If you are interested in tuning in here is a link:

https://tradingroom.clickwebinar.com/Characteristics_of_Success__Observations_from_TopstepTrader/register?inf_contact_key=eb994c184a941ba8d27bb998d14dcfc08fa7cac3229a3e2f564872b012d4faaa

It should be a good discussion.

mp

Mike, We have received a really good feedback about your webinar. I hope to have you in the future again.
Thank you for all the effort!

Happy 4th!

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 DarkPoolTrading 
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Mike, We have received a really good feedback about your webinar. I hope to have you in the future again.
Thank you for all the effort!

Happy 4th!

Matt

Hi Matt,

Is a webinar recording available anywhere? I checked on your youtube page but it isn't there.

Much appreciated.

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 yonatan 
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As a satisfied customer of Optimus I was very glad to hear about the collaboration of Optimus with TopStepTrader but I would like to hear a little more details about how it works. What data feeds will be available ? Who will be in charge of tech support ? etc... ?

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Hi Matt,

Is a webinar recording available anywhere? I checked on your youtube page but it isn't there.

Much appreciated.

Drop me a PM with your email and we send it to you. I will ask my team to post it as well.
Matt

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 Zondor 
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Quoting 
TopstepTrader provides the opportunity but cannot guarantee the outcome. On average, we fund 2-3 traders per week, but we don't give details of their earnings as that is private information.


"Opportunity" for what, exactly?

The "outcomes" are a secret.

Where are all the people who have earnings as traders? Why don't we ever hear anything from any of them? Why are there no AGGREGATE or ANONYMIZED statistics?

What exactly does "funded trader" mean?

"If we don't loosen up some money, this sucker is going down." -GW Bush, 2008
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 wldman 
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those are all legit questions.

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yonatan View Post
As a satisfied customer of Optimus I was very glad to hear about the collaboration of Optimus with TopStepTrader but I would like to hear a little more details about how it works. What data feeds will be available ? Who will be in charge of tech support ? etc... ?

yonatan- Thank you for your continued support. We are very excited to be working more closely with Optimus Futures.

TopstepTrader will continue to offer the Trading Combine using many of the same platforms available at Optimus (NinjaTrader/Sierra/MultiCharts/R Trader/Market Delta) and Rithmic data for all Optimus customers interested in being evaluated for a funded trading account. Support will also continue to be handled independently, so anything relating to your Combine will be dealt with through TopstepTrader. Any support relating to your brokerage activities will be handled by Optimus Futures.

If you would like to talk in more detail about how this new relationship will benefit you and other traders, you can contact Conor at 312-212-0534 or conor@topsteptrader.com.

Thanks,

mp

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  #385 (permalink)
 yonatan 
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Thanks Michael, I am very happy about this option to take combines with the support of both TopStepTrader and Optimus.

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 DarkPoolTrading 
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TopstepTrader View Post
yonatan- Thank you for your continued support. We are very excited to be working more closely with Optimus Futures.

TopstepTrader will continue to offer the Trading Combine using many of the same platforms available at Optimus (NinjaTrader/Sierra/MultiCharts/R Trader/Market Delta) and Rithmic data for all Optimus customers interested in being evaluated for a funded trading account. Support will also continue to be handled independently, so anything relating to your Combine will be dealt with through TopstepTrader. Any support relating to your brokerage activities will be handled by Optimus Futures.

If you would like to talk in more detail about how this new relationship will benefit you and other traders, you can contact Conor at 312-212-0534 or conor@topsteptrader.com.

Thanks,

mp

Hi Michael,

I unfortunately missed the webinar, so apologies if this has already been discussed (im hoping to find a recording of the webinar). Rithmic does not offer historical bid / ask volume, it only offers historical minute data. This affects those who use volume profile, footprints, and anything that relies on accurate historical bid/ask data.

This is why in a recent combine, I actually specifically requested to be put on the CTS data feed and not Rithmic even though I use Sierra.

Going forward is the only option going to be Rithmic? I truly hope not.

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"Opportunity" for what, exactly?

The "outcomes" are a secret.

Where are all the people who have earnings as traders? Why don't we ever hear anything from any of them? Why are there no AGGREGATE or ANONYMIZED statistics?

What exactly does "funded trader" mean?

Zondor- We provide an opportunity for any trader to prove to him/herself and to our equity partner that they can trade consistently and profitably in a simulated account with a little skin in the game and accountability, but never have funds at risk in the open market. The traders who prove this in the Trading Combine are invited to trade an account funded by our equity partner.

The traders we have funded are free to discuss their earnings with anyone they chose. When they achieve Senior trader they are asked if they would like to be interviewed. We have interviewed quite a few.

We feel it is not the place of TST or our equity partner to disclose any trader's income. It has been our experience that doing so, even in an anonymous way can have the tendency to alter a traders mindset, set the bar to a level greater than what that trader typically can do or affect their decision making process, something we are careful not to do.

Lastly, I can leave you with basic stats. The industry success rate for retail traders is 5-10%, our success rate averages around 18% (success= covering your cost or better). This is almost twice as good as the industry standard. We like the position we put our traders in as well as the success we are are achieving. To conclude 100% of traders never lose their own money in the market if they are exclusively trading at TopstepTrader.

mp

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 wldman 
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those are all legit questions.

not so much.

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  #389 (permalink)
 ratfink 
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@TopstepTrader Any update on using Fdax in a combine?

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@TopstepTrader Any update on using Fdax in a combine?

ratfink- I wish I had an update but I do not at this time. We have some major updates to the site happening later this week or early next week, but no updates on new products.

mp

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 BeachTrader 
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ratfink- I wish I had an update but I do not at this time. We have some major updates to the site happening later this week or early next week, but no updates on new products.

mp


Does that mean no TF still? That is what I primarily trade so I am looking for a firm like Topstep that offers it. Apologies if you addressed this earlier. I have not read the entire thread.

Thanks

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 DarkPoolTrading 
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ratfink- I wish I had an update but I do not at this time. We have some major updates to the site happening later this week or early next week, but no updates on new products.

mp

Hi Michael,

As far as im aware you don't have any dates yet for new products to be added (no problem, im sure this is a big process with a lot of moving parts and cost implications). But are you able to tell us which products or exchanges you would be targeting first, even if you dont have a timeline?

Many thanks.

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Hi Michael,

As far as im aware you don't have any dates yet for new products to be added (no problem, im sure this is a big process with a lot of moving parts and cost implications). But are you able to tell us which products or exchanges you would be targeting first, even if you dont have a timeline?

Many thanks.

DarkPoolTrading- We try to keep future plans private. We will update all our traders via email and I will post in futures.io (formerly BMT) when we launch anything.

Thanks,

mp

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 madLyfe 
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i would like to see TST have a public google calendar for news events(the red important ones that you want traders to be on the sidelines for) so that traders can add it to their calendars and keep them in sync. this would allow for all of the alerts etc that are so common now with phones/tabs/browsers etc. i dont think that it would take much effort. you could put the little 'add to calendar' button in the profile area of traders and those areas of the TST site that are referenced.

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 DeadCatBounced 
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When i passed my combine during the discussion for Live Trader Prep I was given the following economic calendar. Basically any news events with a red dot beside them you need to be out of the market for and if you trade CL also need to be out of the market on EIA reports

Econoday Calendar : Economic Events and Analysis

Hope that helps @madLyfe!

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 madLyfe 
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DeadCatBounced View Post
When i passed my combine during the discussion for Live Trader Prep I was given the following economic calendar. Basically any news events with a red dot beside them you need to be out of the market for and if you trade CL also need to be out of the market on EIA reports

Econoday Calendar : Economic Events and Analysis

Hope that helps @madLyfe!

yes, i know. them running their own calendar that people can sync with their own would be a better way to go. they already keep a calendar for events/announcements. they should add that one in there too.

dont believe anything you hear and only half of what you see

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i would like to see TST have a public google calendar for news events(the red important ones that you want traders to be on the sidelines for) so that traders can add it to their calendars and keep them in sync. this would allow for all of the alerts etc that are so common now with phones/tabs/browsers etc. i dont think that it would take much effort. you could put the little 'add to calendar' button in the profile area of traders and those areas of the TST site that are referenced.

Hey madLyfe, you are able to trade during economic releases in the Combine. However, as a Junior Trader our equity partner does like to see you build up your account balance before you start risking trades around economic releases. You can view a calendar of economic releases for Junior Traders using the link below.

Junior Trader: Economic Release Calendar ? Help & Feedback Center

Hope that helps.

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 madLyfe 
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Hey madLyfe, you are able to trade during economic releases in the Combine. However, as a Junior Trader our equity partner does like to see you build up your account balance before you start risking trades around economic releases. You can view a calendar of economic releases for Junior Traders using the link below.

Junior Trader: Economic Release Calendar ? Help & Feedback Center

Hope that helps.

thanks for the explanation @TopstepTrader. i know about that calendar as well. ive been following the forexfactory one because i can set the view i want and timezone by a free account there and just pin it as a tab in my browser. you guys have TST events and things besides economic news that i get via email. i just think you should maintain one or two public calendars that people can just sync with their own calendars like googles. you could have a TST event cal and one for the major econ events. almost an effort v reward kinda thing, little effort and large reward.

dont believe anything you hear and only half of what you see

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All,

We're committed to helping traders succeed, and one of the biggest obstacles is "the cost of doing business." So, we've forged a partnership with NinjaTrader Brokerage to significantly LOWER COMMISSIONS ACROSS THE BOARD, which will go into effect immediately (starting September 8, 2014) for all Combine (currently active and new accounts) and Funded Trading Accounts.

These industry low commissions are ALL IN, so you don't have to calculate exchange fees, regulatory fees, platform fees, FCM fees, IB fees, and any other fee under the sun.



*The commission rate example displayed above is for new Funded Traders who own a NinjaTrader lifetime license and are using the Rithmic data feed, trading ES. Click here to view Funded Trader's commission and fee structure for all platforms and NinjaTrader license levels.

For example, as a Funded Trader trading the ES, under the old structure, if you traded 100 contracts (50 RT), you would have paid $417 in commissions and fees. Under the new structure, you will pay only $184. For every 100 contracts you trade, that's an additional $233 in savings!

We look forward to seeing how the lower commissions and fees help your trading and profitability! If you have any questions, please contact support@topsteptrader.com or 888.407.1611.

Trade well,

The TopstepTrader Team

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TurismoTek
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Does TST allow junior or senior traders to trade Eurex products, specifically interested in euro-bund?

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