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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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  #401 (permalink)
Chicago, IL
 
 
Posts: 35 since Jul 2012
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Just curious as to why no TF? Any upcoming plans to integrate it into your program?

Thanks

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  #402 (permalink)
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Bau250 View Post
Just curious as to why no TF? Any upcoming plans to integrate it into your program?

Thanks

Bau250- We will be announcing some exciting new changes to our Funded Accounts here very soon. One of the exciting changes will be allowing Funded Traders to trade Eurex and/or ICE products much much sooner. I will update when we publicly announce.

mp

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  #403 (permalink)
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---
TopstepTrader and NinjaTrader partner to offer free tools and funding to traders
---

TopstepTrader and NinjaTrader are excited to announce a new unprecedented partnership. For the first time in its history, NinjaTrader has agreed to provide their award winning trading platform to TopstepTrader users for FREE ($60 value per month!). Now, anyone with a TopstepTrader account can take advantage of trading on a real-time data feed with best-in-class trading software.

Love NinjaTrader but sick of end of day data? Don't have the capital for a brokerage account but want to use professional trading software? Currently use NinjaTrader and are looking for more capital to trade with? Sick of paying for a data feed or maintaining a brokerage account just to trade sim with no end goal?

Join TopstepTrader and enter the Combine today.

With the release of these free licenses, our traders now have even more of an advantage for success in the markets. In addition to trading on the most widely used futures platform, those TST traders who earn a funded account are entitled to a discounted lifetime license and deeply discounted commissions through NinjaTrader Brokerage, starting at just $.53 per contract (yes, that is $.53 cents per car).

Sign up for a Trading Combine today to start using your FREE NinjaTrader license!
---

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  #404 (permalink)
San Diego
 
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TopstepTrader View Post
Bau250- We will be announcing some exciting new changes to our Funded Accounts here very soon. One of the exciting changes will be allowing Funded Traders to trade Eurex and/or ICE products much much sooner. I will update when we publicly announce.

mp

So does that mean we still will not be able to trade TF in the Combine?

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  #405 (permalink)
Chattanooga, TN/USA
 
 
Posts: 26 since Jan 2013

I am trading on the T4 desktop simulator offered by TST's 14 day trial period. The combine simulator and the free trial simulator is all the same correct? Meaning the order queue is simulated the same way during the free trial, as it is during the combine. As I'm sue you know, for a scalper this is very important. Thank you.

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  #406 (permalink)
Market Wizard
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TopstepTrader and NinjaTrader partner to offer free tools and funding to traders


TopstepTrader and NinjaTrader are excited to announce an unprecedented partnership that will provide all TST users FREE access to the award-winning NinjaTrader platform ($60 value per month!). As our preferred trading platform, anyone with a TopstepTrader account can now take advantage of trading on a real-time data feed with the opportunity to earn a Funded Account, while using best-in-class trading software from NinjaTrader.

Through the custom functionality and numerous add-on applications offered through NinjaTrader, our traders will be in an even better position to capitalize in the markets. Traders who successfully complete the Combine and earn a Funded Account are entitled to a discounted NinjaTrader lifetime license and deeply discounted commissions through NinjaTrader Brokerage, starting at just $.53 per contract.

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  #407 (permalink)
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BeachTrader View Post
So does that mean we still will not be able to trade TF in the Combine?

BeachTrader- we do not currently have ability to offer ICE or your Eurex in the Trading Combine. This will be available right away for funded traders once we announce the funded account updates.

mp

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  #408 (permalink)
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donovanshane View Post
I am trading on the T4 desktop simulator offered by TST's 14 day trial period. The combine simulator and the free trial simulator is all the same correct? Meaning the order queue is simulated the same way during the free trial, as it is during the combine. As I'm sue you know, for a scalper this is very important. Thank you.

Donovanshane- Yes, you are correct. The only difference is trial accounts are not evaluated and Trading Combine accounts are. Your trading experience doesn't change functionality wise but you will experience similar emotions as live trading.

I hope that helps.

mp

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  #409 (permalink)
Market Wizard
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donovanshane View Post
I am trading on the T4 desktop simulator offered by TST's 14 day trial period. The combine simulator and the free trial simulator is all the same correct? Meaning the order queue is simulated the same way during the free trial, as it is during the combine. As I'm sue you know, for a scalper this is very important. Thank you.

Yes, to the best of my observation it is same.

For @TopstepTrader

However my gripe with the simulated fills as a scalper is that the fill algorithm is too conservative. It fills your buy order only if the ask moves to that price or when price is trading at that point and the number of bids becomes 0. The queue is not respected, i.e. if there were 10 orders earlier and your one lot makes it 11 and then you see later that the number of orders there is now 30 then there is a fill only when that 30 reaches 0 (not when that 30 reaches 19 when you would have been filled in a real market with the proper queue). I hope this will be addressed as due to this I've to set my profit target one tick lower.

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  #410 (permalink)
London, UK
 
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Platform: sierra chart, Jigsaw Trading, Bookmap
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Posts: 93 since Aug 2012

Hi, having just set up a continuous combine, I have received an email with details, which fails to connect. I have sent a couple of emails to support@topstep and no reply. Is there anything I particular to do/somebody to contact to get a combien up and running? Is there nobody to offer support...?

Thanks

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  #411 (permalink)
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
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dom64 View Post
Hi, having just set up a continuous combine, I have received an email with details, which fails to connect. I have sent a couple of emails to support@topstep and no reply. Is there anything I particular to do/somebody to contact to get a combien up and running? Is there nobody to offer support...?

Thanks

You can try to call them. Over the phone I never had any issue to reach them out, but speaking frankly never had any issue to connect the server either

Máté
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dom64 View Post
Hi, having just set up a continuous combine, I have received an email with details, which fails to connect. I have sent a couple of emails to support@topstep and no reply. Is there anything I particular to do/somebody to contact to get a combien up and running? Is there nobody to offer support...?

Thanks

Dom64- Our support email is support@topsteptrader.com. You mentioned you sent your emails to support@topstep. I just wanted to confirm you are using the correct email. We also have a a contact us page at: https://www.topsteptrader.com:443/contact You may also call 888.407.1611 and our support staff can assist you right away.

Let me know if you continue to have issues.

mp

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  #413 (permalink)
London, UK
 
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Posts: 93 since Aug 2012

I have sent 2 emails from one email adress and another one from another one this morning. No reply. I have setup a combine on Sunday and I got confirmation email with username etc but when trying to connect, getting am error message. Is there somebody at topstep support to help and sort this out or does it have to take a other day (am on a different time zone, so in 8 hours This is start of trading day for me). Sorry don't want to do an off subject on the thread but just trying to see how to get support. Impressive so far. Not.


TopstepTrader View Post
Dom64- Our support email is support@topsteptrader.com. You mentioned you sent your emails to support@topstep. I just wanted to confirm you are using the correct email. We also have a a contact us page at: https://www.topsteptrader.com:443/contact You may also call 888.407.1611 and our support staff can assist you right away.

Let me know if you continue to have issues.

mp


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  #414 (permalink)
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dom64 View Post
I have sent 2 emails from one email adress and another one from another one this morning. No reply. I have setup a combine on Sunday and I got confirmation email with username etc but when trying to connect, getting am error message. Is there somebody at topstep support to help and sort this out or does it have to take a other day (am on a different time zone, so in 8 hours This is start of trading day for me). Sorry don't want to do an off subject on the thread but just trying to see how to get support. Impressive so far. Not.

Dom64- As I do not have your info to pass along to the TST support team, I do know that if you contacted them using any of the options on the contact us page they will respond within 24 hours.

mp

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  #415 (permalink)
Budapest, Hungary
 
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TopstepTrader View Post
The below email will be going out today - Here is a sneak peek!



---



Receive an 80/20 Profit Split from the start!



We are excited to announce the following changes, which are effective immediately, for our current and future Funded Traders! Get ready to reap the rewards of your hard work and take advantage of the new profit split.


  • Industry Best Profit Split

    You may now withdraw your profits at any time, and you will receive an 80/20 profit split! This is the best profit split you will receive in this industry. Learn more -->


  • Trade Additional Products

    After trading 10 days on the funded account, you may trade the most liquid products on the ICE or Eurex Exchange (ex. Russell 2000, DAX, etc.).


  • Industry Low Commissions

    Trade on a funded account with commissions as low as $.53 per contract.



Keep trading well and take advantage of the greatest funding opportunity, lowest commissions, and best profit split ANYWHERE! Sign up for a Trading Combine today. support@topsteptrader.com.



As always, contact us with any questions at 888.407.1611 or support@topsteptrader.com.



---

Hm got funded 2 weeks back and than getting this great news... Xmas baby Xmas

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@TopstepTrader

I am exploring the possibility to get a funded account but before i do i'd like to know what occurs when you already have a private account with a broker but are considered as a Non-Professional in light of the new CME fees?

So far, i understand that if we use the capital of any other individual or entity in the conduct of our trading we will be considered as a professional trader which implies we need to pay $85/month per platform/exchange in 2015. But what about our private account at broker xyz? Can we keep our Non-Professional status to trade our private account while we are considered as a professional trader with a funded account at TopStep?

Can we wear both hats?

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  #417 (permalink)
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trendisyourfriend View Post
@TopstepTrader

I am exploring the possibility to get a funded account but before i do i'd like to know what occurs when you already have a private account with a broker but are considered as a Non-Professional in light of the new CME fees?

So far, i understand that if we use the capital of any other individual or entity in the conduct of our trading we will be considered as a professional trader which implies we need to pay $85/month per platform/exchange in 2015. But what about our private account at broker xyz? Can we keep our Non-Professional status to trade our private account while we are considered as a professional trader with a funded account at TopStep?

Can we wear both hats?

trendisyourfriend- You are correct that Funded Traders are considered professional and are responsible for the professional fee when they begin trading other peoples money. As for your question about your private account and the treatment, you will need to seek that advice from your broker as I am not clear how they handle this.

Sorry I couldn't be of more help.

mp

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  #418 (permalink)
Michigan
 
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Any plans on introducing Emini Russell TF for Combine?

Thanks

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  #419 (permalink)
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vk79 View Post
Any plans on introducing Emini Russell TF for Combine?

Thanks

Vk79- yes, our team is working to get other exchanges. Currently you can now trade this product in the Combine but you are permitted at the funded level (after 10 trading days on the funded account).

mp

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TopstepTrader View Post
Vk79- yes, our team is working to get other exchanges. Currently you can now trade this product in the Combine but you are permitted at the funded level (after 10 trading days on the funded account).

mp

I can trade it in Combine? Above sentence is confusing. Please clarify.

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  #421 (permalink)
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TopstepTrader View Post
Vk79- yes, our team is working to get other exchanges. Currently you can now trade this product in the Combine but you are permitted at the funded level (after 10 trading days on the funded account).

mp


vk79 View Post
I can trade it in Combine? Above sentence is confusing. Please clarify.

I think if you replace "now" with "not" (a typo), it becomes clear. You can do it after 10 days as a funded trader, not in a Combine....

See TsT FAQ on the subject: Permissible Products/Times to Trade ? Help & Feedback Center

Bob.

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thanks bob

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  #423 (permalink)
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vk79 View Post
thanks bob


vk79- Bob is correct. Typo on my part. Currently you can not trade ICE or EUREX products in the Combine but you are permitted at the funded level.

Thanks Bob.

mp

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  #424 (permalink)
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Hi there,

I have a strategy that requires me to hold positions through 3:10-5pm CT. I have asked your staff if I could have a continuous combine that allows me to do this but they have replied saying that it would be impossible.

Why are you forcing traders to close positions at this time when a lot of people including me have a trading plan which works better when we can hold through this period? If we can prove ourselves, why limit us?

Is it possible that this limitation could be lifted now, or in the future?

Thanks,

Erfan.

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  #425 (permalink)
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nourozi View Post
Hi there,

I have a strategy that requires me to hold positions through 3:10-5pm CT. I have asked your staff if I could have a continuous combine that allows me to do this but they have replied saying that it would be impossible.

Why are you forcing traders to close positions at this time when a lot of people including me have a trading plan which works better when we can hold through this period? If we can prove ourselves, why limit us?

Is it possible that this limitation could be lifted now, or in the future?

Thanks,

Erfan.

Efran- You may customize certain rules of the Combine but you would need to first contact us at either support@topsteptrader.com or 888.407.1611. We have traders that have customized their Combine to better fit within their trading plan/strategy.

I hope that helps.

mp

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TopstepTrader View Post
Efran- You may customize certain rules of the Combine but you would need to first contact us at either support@topsteptrader.com or 888.407.1611. We have traders that have customized their Combine to better fit within their trading plan/strategy.

I hope that helps.

mp

I am aware you can customise the rules slightly. I have already gone through a custom combine. However you fail to address my main concern. Why can we not hold through the time period 3:10-5pm CT? This is one thing I need changed most importantly. I need to hold a position through this time for my custom combine.

Could that be possible?

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  #427 (permalink)
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nourozi View Post
I am aware you can customise the rules slightly. I have already gone through a custom combine. However you fail to address my main concern. Why can we not hold through the time period 3:10-5pm CT? This is one thing I need changed most importantly. I need to hold a position through this time for my custom combine.

Could that be possible?

Nourozi- We were not able to do this earlier this year, but have made adjustments to our back end to permit holding positions through 3:10pm. This is something we do on a case by case basis and is only permitted for specific platforms. Please contact support to get further details on customizing your time.

Thanks,

mp

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  #428 (permalink)
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TopstepTrader View Post
Nourozi- We were not able to do this earlier this year, but have made adjustments to our back end to permit holding positions through 3:10pm. This is something we do on a case by case basis and is only permitted for specific platforms. Please contact support to get further details on customizing your time.

Thanks,

mp

Ok, well that is good news. Based on an email to your support team yesterday, it seems they are oblivious to this possibility. That is why I posted my concern on this forum. I will follow up with your support team again and hopefully get to some positive conclusion.

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  #429 (permalink)
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nourozi View Post
Ok, well that is good news. Based on an email to your support team yesterday, it seems they are oblivious to this possibility. That is why I posted my concern on this forum. I will follow up with your support team again and hopefully get to some positive conclusion.

Efran- This is something that is very new. Support should be up to date with these changes at the Custom Combine level.

mp

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  #430 (permalink)
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TopstepTrader View Post
Efran- This is something that is very new. Support should be up to date with these changes at the Custom Combine level.

mp

Ok, I guess since it is at a Custom Combine level only, so you would not announce it officially/publicly.

I shall book my Custom Combine meeting.

Thanks.

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  #431 (permalink)
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Considering the variety of platforms that one can choose from to complete the combine, does this vary the results unfairly by any chance? The fill algorithms differ on all platforms so would that not unbalance the results?

For example, some fill engines may fill orders faster than others..

How do you deal with this?

Thanks,

Erfan.

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  #432 (permalink)
Sydney, NSW, Australia
 
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Platform: NinjaTrader with Jigsaw DOM
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I am curious as to whether topsteptrader has considered introducing s5 trader as a platform option? Would this be possible in any way? I think it is a great platform and it is able use the jigsaw DOM which is extremely important to me, otherwise I am limited to ninjatrader.

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  #433 (permalink)
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What license key would be needed to do a combine please? My NT license key has expired and I understand that Topstep provides combines user with a key, so no need to pay for a live NT key in that case.

Many thanks

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  #434 (permalink)
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dom64 View Post
What license key would be needed to do a combine please? My NT license key has expired and I understand that Topstep provides combines user with a key, so no need to pay for a live NT key in that case.

Many thanks

you'd receive that information after you purchased a combine.
see this site for further info: License Key Information ? Help & Feedback Center

see also here: http://help.futures.topstep.com/knowledgebase/articles/327766-ninjatrader-connection-instructions-futures

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dom64 View Post
What license key would be needed to do a combine please? My NT license key has expired and I understand that Topstep provides combines user with a key, so no need to pay for a live NT key in that case.

Many thanks

dom64 - You are correct, we will provide you with a free NinjaTrader license key to use in the Combine. You'll receive the license key in your Combine Account Information email.

mp

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Hi there,

I am seriously considering a continuous custom combine, however there is one remaining issue that I just noticed which will put me out of considering this.

It is stated on your website that as funded traders we can not hold positions through many different new releases. But if I undertake a custom combine and am successful while holding through these releases, does it not make sense to be able to hold positions through news when funded also? As it would essentially alter the strategy/trading plan used to successfully complete the combine in the first place?

I do not understand why you can hold through news during the combine, but then the rules are changed once funded?

If I can hold through news once funded then I would like to start a continuous custom combine, otherwise I will not be able to.

Please clarify,

thanks.

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nourozi View Post
Hi there,

I am seriously considering a continuous custom combine, however there is one remaining issue that I just noticed which will put me out of considering this.

It is stated on your website that as funded traders we can not hold positions through many different new releases. But if I undertake a custom combine and am successful while holding through these releases, does it not make sense to be able to hold positions through news when funded also? As it would essentially alter the strategy/trading plan used to successfully complete the combine in the first place?

I do not understand why you can hold through news during the combine, but then the rules are changed once funded?

If I can hold through news once funded then I would like to start a continuous custom combine, otherwise I will not be able to.

Please clarify,

thanks.


nourozi- If our Combine participants chose to hold positions into economic releases, most of them find that it is very difficult if not impossible to profit from it with any consistency, is more risk than it is worth, and is more gambling than trading. Most traders need to find this out for themselves, so we allow it in the Combine where they aren't risking thousands of dollars to learn this lesson.

When a trader is successful in the Combine and holding positions into releases is only part of their strategy, they would have the opportunity to be funded and when enough equity is built in the account, holding into releases may be approved.

I hope that helps,

Michael

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  #438 (permalink)
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Hello Michael,

I have a small group of colleagues/students that maintain contact throughout the trading day via Skype. Two of my students recently passed the combine, but were asked to go through the live trader prep. Both passed the continuous 50K combine. I am transitioning from my live account to a TopStep account and hope to complete a continuous combine as they have, thus I have a few inquiries...

1. Can you share some specific reasons as to why some people might be asked to go through the live trader prep?

2. What percentage of those that pass the combine are asked to also go through the live trader prep?

3. Once the TopStep Team has approved someone for funding, how long does it normally take to get his/her account?

4. How many active funded traders do you currently have?

5. What percentage of traders that make it to the funded traders level are able to maintain at that level, and what percentage fall back to the combine level?

6. Is there a limit to how many funded traders your equity partner will fund? There seems to be many more people passing the combine as of late.

Thank you,
James D.

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  #439 (permalink)
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Success in trading is compatible with skepticism and pragmatism.. not blind faith, just because everyone else believes something that you sincerely want to believe.

What is revealing is that the very simple questions that I raised about the fundamental premise (and promise) of this operation were never answered.





Of course, in the words of Humpty Dumpty Humphrey... (see below)

"If we don't loosen up some money, this sucker is going down." -GW Bush, 2008
“Lack of proof that something is true does not prove that it is not true - when you want to believe.” -Humpty Dumpty, 2014
“The greatest shortcoming of the human race is our inability to understand the exponential function.”
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Zondor View Post
Success in trading is compatible with skepticism and pragmatism.. not blind faith, just because everyone else believes something that you sincerely want to believe.

What is revealing is that the very simple questions that I raised about the fundamental premise (and promise) of this operation were never answered.





Of course, in the words of Humpty Dumpty Humphrey... (see below)

Luckily @Zondor, no one forces you to use their service. You are also free to start your own service to address any short coming you find in the marketplace. Instead of just complaining, I mean, you can be productive.

I've seen some traders blow six figure accounts in days. I've also seen others take twenty combines from TST.

Having witnessed this macro view, I think TST helps more than it hurts. If I didn't feel that way then I wouldn't allow them to be a site sponsor. They certainly aren't for everyone. I don't agree with all their decisions. But like I said, I do believe they help people overall.

You might try Elite Trader if you thrive on negativity. Leave it off futures.io (formerly BMT). Just move on already.

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  #441 (permalink)
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Quote:

"If your UNREALIZED Net P&L hits or exceeds your Daily Loss Limit at any point during the Combine, your Combine is no longer eligible for a rollover/refund or a funded account, as stated in the Combine Rules."

If it is like this, for what do we have a max. drawdown-rule? Before i e.g. touch this drawdown, i´m out already according to this rule above? What am i missing? Thanks!!

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  #442 (permalink)
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pipandrun View Post
Quote:

"If your UNREALIZED Net P&L hits or exceeds your Daily Loss Limit at any point during the Combine, your Combine is no longer eligible for a rollover/refund or a funded account, as stated in the Combine Rules."

If it is like this, for what do we have a max. drawdown-rule? Before i e.g. touch this drawdown, i´m out already according to this rule above? What am i missing? Thanks!!


One loss limit is for the individual trading day, one is for the whole combine. You can have several losing days and hit your max drawdown which means your combine is over. You can also hit your your daily loss limit which also means your combine is over. The two loss limits are in place because they want to see you winning over the life of the combine but also manage your risk properly intraday. I hope this answered your question

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  #443 (permalink)
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TheShrike View Post
One loss limit is for the individual trading day, one is for the whole combine. You can have several losing days and hit your max drawdown which means your combine is over. You can also hit your your daily loss limit which also means your combine is over. The two loss limits are in place because they want to see you winning over the life of the combine but also manage your risk properly intraday. I hope this answered your question

In my understanding a daily loss limit is a realized P/L.
But they talk about an unrealized P/L which is nothing else like an unrealized drawdown, or?

Example:
$ 30.000 combine, first day, drawdown 600$, daily loss 250$ - i´m out? Even the max drawdown is 1.500$ (daily loss 500$, but not important for this example) ?

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pipandrun View Post
In my understanding a daily loss limit is a realized P/L.
But they talk about an unrealized P/L which is nothing else like an unrealized drawdown, or?

Example:
$ 30.000 combine, first day, drawdown 600$, daily loss 250$ - i´m out? Even the max drawdown is 1.500$ (daily loss 500$, but not important for this example) ?

That's correct. In your example, if your unrealized p/l went to even -501 for the day you would not be able to roll over the combine. They have risk control monitors in place that will liquidate your position if you hit your max daily drawdown. Don't ask me how I know that

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TheShrike View Post
That's correct. In your example, if your unrealized p/l went to even -501 for the day you would not be able to roll over the combine. They have risk control monitors in place that will liquidate your position if you hit your max daily drawdown. Don't ask me how I know that

so in other words, that means forget the max. drawdown and concentrate not to hit the daily loss limit, even unrealized!!

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pipandrun View Post
so in other words, that means forget the max. drawdown and concentrate not to hit the daily loss limit, even unrealized!!

You must keep both in mind when you are trading, but if you don't hit either one you will be able to roll the combine even if you do not meet the profit objective.

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TheShrike View Post
You must keep both in mind when you are trading, but if you don't hit either one you will be able to roll the combine even if you do not meet the profit objective.

How can i reach a drawdown of 1.400 $, what is allowed according to the combine rules, and remain in the game in the same time? Not possible, or? So, again: cancel the drawdown rule...or?

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TheShrike View Post
You must keep both in mind when you are trading, but if you don't hit either one you will be able to roll the combine even if you do not meet the profit objective.

I'm sorry, I think I misspoke. You have to end the combine net profitable to achieve a rollover.

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pipandrun View Post
In my understanding a daily loss limit is a realized P/L.
But they talk about an unrealized P/L which is nothing else like an unrealized drawdown, or?

Example:
$ 30.000 combine, first day, drawdown 600$, daily loss 250$ - i´m out? Even the max drawdown is 1.500$ (daily loss 500$, but not important for this example) ?

Yes, hit a daily loss equal to the daily loss limit and you're out. (It's "unrealized," because even if you haven't closed the trade, they'll knock you out.) The max drawdown is the most you can go into the hole on a total cumulative basis for the entire Combine.

Examples:
Assume daily loss limit = 500, max drawdown = 1500.
Day 1, lose 500.00 -- blew it, you're done.

Reset. Next case:
Day 1, lose 300. OK.
Day 2, lose 300. Still OK. (Cumulative drawdown to date is now 600.)
Day 3, lose 499. Still OK. (Cumulative drawdown to date is now 1099.)
Day 4, lose 499. Now you are out. (Cumulative drawdown to date is now 1598, over the 1500 max drawdown.)

There's a complication that the max drawdown is actually a "trailing" number. You take the Account Balance High, if you had a positive balance at any point, and subtract the max drawdown. That gives you the Account Balance that you have to stay above. If your Account Balance High keeps going up, which you hope it does, then the Balance you have to stay above goes up too, until it reaches the original balance of, for example, 30,000. Then it doesn't trail any more.

Example:
Assume a starting balance of 30,000, and a max drawdown of 1500.

Day 1, make 1000. You feel good. Your Account Balance is now 31,000, which is also your Account Balance High so far. If, after today, you lose 1500 from that point, which means if your balance now goes down to 31,000 - 1500 = 29,500, you are done.

In the examples above where you never had a positive balance, you could go down to just above 28,500, which is 30,000 - 1500. So the point where you are in trouble has been trailed upward because your account high point went upward.

Day 2, make 100. Now Account Balance is 31,100, which is your new high point. Now your trailing balance number is 31,100 - 1500 = 29,600. If you hit or go below an account balance of 29,600, that's it, you're out.

Day 3, lose 100. Your Account Balance is down to 31,000 again. Your Account Balance High is still 31,100, because that's still your high point. Your trailing balance number is still 29,600. since the high point didn't change.

Day 3, make 600. Your Account Balance is now 31,600. That's your new high point, but the trailing minimum balance will not go up above your starting balance -- it will be 30,000 and will not go up any more. So now, really, you could lose up to 1599 (which would get you to 30,001 from today's balance) and still be OK.

Day 4, make 100. Your Account Balance is now 31,700. Your Account Balance High is also 31,700. The trailing minimum still doesn't trail up any more, and is still 30,000. Now you could actually lose up to just below 1,700 and stay in the game. You've built up a cushion because of your account high point.

Etc.

This trailing balance stuff is calculated at the end of the day.

This trailing thing is hard to understand, until you get it, then it's easy. More explanation here, with a chart: Trailing Max Drawdown ? Help & Feedback Center

So every day, you need to be sure you don't lose more than the daily drawdown on an open trade (unrealized) basis for that particular day. But you also need to not draw the account down below your trailing balance limit, or you are out also.

Just takes some getting use to....

Bob.

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jcdawsey View Post
Hello Michael,

I have a small group of colleagues/students that maintain contact throughout the trading day via Skype. Two of my students recently passed the combine, but were asked to go through the live trader prep. Both passed the continuous 50K combine. I am transitioning from my live account to a TopStep account and hope to complete a continuous combine as they have, thus I have a few inquiries...

1. Can you share some specific reasons as to why some people might be asked to go through the live trader prep?

2. What percentage of those that pass the combine are asked to also go through the live trader prep?

3. Once the TopStep Team has approved someone for funding, how long does it normally take to get his/her account?

4. How many active funded traders do you currently have?

5. What percentage of traders that make it to the funded traders level are able to maintain at that level, and what percentage fall back to the combine level?

6. Is there a limit to how many funded traders your equity partner will fund? There seems to be many more people passing the combine as of late.

Thank you,
James D.

James-

I did my best to answer the below. I hope this helps:

1. Can you share some specific reasons as to why some people might be asked to go through the live trader prep?

Inconsistencies such as poor risk reward ratio, average winning day vs. average losing day, trading volume, number of trades, majority of profit in the Combine from 1 trading day (pop shots), consecutive losing trades are some of them.

2. What percentage of those that pass the combine are asked to also go through the live trader prep?

I don't have an exact percentage as this fluctuates depending on the traders we review and their performance. The live trader preparation is really a great segue into the funded account, it creates confidence in your strategy and has been vital to many of our funded traders making the best of the opportunity once funded.

3. Once the TopStep Team has approved someone for funding, how long does it normally take to get his/her account?

We now have the process down to no more than 2 weeks, depending on how quickly the trader provides us with their information and the business of the clearing firm. BUT are goal is to drastically shorten this time once we have some automation features launched here soon. With the amount of funded traders we are seeing, these features to streamline the funded account process for the user have moved up in priority.

4. How many active funded traders do you currently have?

Number of active users both Funded or in the Combine are private. We have funded over 400+ since the company started and 5 in the first 10 days of the new year. This month we will have around 13 moving to a funded account, so the pace of traders reaching the funded level is increasing.

5. What percentage of traders that make it to the funded traders level are able to maintain at that level, and what percentage fall back to the combine level?

Trading is a very personal journey and everyone's results are theirs and theirs alone. The success or failure of any one has nothing to do with your success or failure. Therefore, we do not provide this number. I can say that we are happy with the Funded Traders performance and it has increased since TopstepTrader inception.

6. Is there a limit to how many funded traders your equity partner will fund? There seems to be many more people passing the combine as of late.

No, there is not a limit to how many traders our equity partner will fund.

Again, I hope these answers help. All the best.

Michael

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Michael,

I've always been very impressed with how you treat your customers/traders. Thank you for taking time out of your busy schedule to cordially answer some of our inquiries. I've always felt that the combine, and other products, like the IDP program or TST University, are wonderful resources that can really help aspiring traders. I hope that I will be able to achieve the goal of passing the combine soon.

Thanks again,
James D.

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bobwest View Post
Yes, hit a daily loss equal to the daily loss limit and you're out. (It's "unrealized," because even if you haven't closed the trade, they'll knock you out.) The max drawdown is the most you can go into the hole on a total cumulative basis for the entire Combine.

Thanks Bob for your detailed answer! I´ve understood the rules with the trailing max. drawdown etc, what really was not clear to me is the sentence quoted: the daily loss limit not only referr to a closed trade, but even to an open trade!!! That´s important to know. No lean back and hoping on a trade to come back out of a greater unrealized loss of 500$!!

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pipandrun View Post
Thanks Bob for your detailed answer! I´ve understood the rules with the trailing max. drawdown etc, what really was not clear to me is the sentence quoted: the daily loss limit not only referr to a closed trade, but even to an open trade!!! That´s important to know. No lean back and hoping on a trade to come back out of a greater unrealized loss of 500$!!

I should have known all that was already clear to you.... Oh well, maybe somebody else will get something new out of it. I hope so.

Bob.

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nourozi View Post
Considering the variety of platforms that one can choose from to complete the combine, does this vary the results unfairly by any chance? The fill algorithms differ on all platforms so would that not unbalance the results?

For example, some fill engines may fill orders faster than others..

How do you deal with this?

Thanks,

Erfan.

Nourozi- This has not been an issue with our users. Most are not scalpers and therefore have no issues with their fills. Also, the fill algorithm is on the back-end. Though there is a slight difference with fills in the Combine (due to simulation) then live trading we do not feel there is nor have we noticed an unfair advantage in any way between users.

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TopstepTrader View Post
Darkpooltrading- I do want to clarify that they are not trading for TST once you pass the Combine. You would be trading on our equity partner's account. TST is strictly a scouting agency that educates (TSTU), develops, and discovers traders in a realtime SIM (aka. Paper) environment.

mp

Will you be locked into a contract or similar restricting trading for another prop firm, hedge fund or opm? or anything related.

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Will you be locked into a contract or similar restricting trading for another prop firm, hedge fund or opm? or anything related.

No, you will not be locked into a contract or restricted from trading your own account or trading for another prop firm.

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@TopstepTrader Mike,

I have a few questions, I hope you can spend some time addressing these concerns. The continuous combine is an excellent addition to TST. The message of the continous combine being: patience, discipline, no arbitrary deadlines. Just trade your plan consistently.

Now to my concerns:
  • Upon completion of a continous combine and going into LTP, you are then placed under arbitrary timelines again. ie: Complete the LTP in 2 months. So initially you have people opting for the continuous combine for the specific reason that they prefer a more patient, low risk, baby steps approach. Yet when reaching LTP that no longer applies.
  • When going live with TST, you have a trailing max drawdown. Essentially that is the risk that the equity partner is happy to take on given that the newly funded trader has proven themselves. However you no longer trail the drawdown up until zero as was the case in the past. Now you only trail that drawdown for an arbitrary 10 days. Then it all of a sudden it dissapears.

    Going back to people doing continous combines, they for a large part select this option because it more closely mimics real trading. There are no arbitrary deadlines which in real trading, mean nothing. They are able to build the account slowly and patiently with no artificial pressure placed by deadlines.

    Yet when you are funded, the mindset of the continous combine goes out the window. You are forced to build a big enough cushion in 10 trading days such that when you remove the trailing max drawdown, they are able to survive on the funds they've built up.

    So you have people passing continuous combines who took several months to do so, yet all of a sudden they have no more than 10 days to build a big cushion.
  • If a newly funded trader makes $300 for example in their first 10 days of being funded, and all of a sudden you remove the trailing max drawdown, they are guaranteed to fail. Yet this is someone who is building their account, showing discipline, and heading in the right direction. Im not sure I see how all of a sudden pulling the rug out from under this traders feet is a good thing.

Basically all my questions revolve around the same issue I see. On the one hand you have a continous combine that removes arbitrary deadlines and promotes patience and a base hits approach. Yet on the other hand as soon as you reach LTP and funding, arbitrary deadlines are placed on the trader. The trader can no longer continue with their patient approach to trading because these artificial deadlines now exist.

To illustrate the above issues with some recent examples of newly funded traders:
  • Recently patr82 was funded. He traded 72 days to get funded and averaged $41.6 / day
  • Recently daRake was funded. he traded 37 days to get funded and averaged $40.5 / day

These traders are well deserving of their success. Clearly the continuous combine suited their style. Yet when funded, TST expects them to build a cushion in 10 days at which point the rug gets pulled out from under them. Given a $40 / day average, if they continue trading in the same manner it is likely that after 10 days they will be sitting at somewhere around $400. How can they be expected to not fail at that point when TST removes their max trailing drawdown? All of a sudden their max risk is $400, or it's game over. But all they did was trade consistently in the same manner that they did throughout their combine.

My intention for this post is for it to be constructive, so my suggestions for the above issues would be:
  • If you pass a continuous combine and have taken several months to do so, then the LTP should also be of a continuous nature.
  • The trailing max drawdown for newly funded traders doesn't just disappear after 10 days. It trails up till zero exactly how it use to (thus eliminating the equity partners risk at that point)

Thanks Mike. Looking forward to hearing your thoughts.

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@TopstepTrader Mike,

I have a few questions, I hope you can spend some time addressing these concerns. The continuous combine is an excellent addition to TST. The message of the continous combine being: patience, discipline, no arbitrary deadlines. Just trade your plan consistently.

Now to my concerns:
  • Upon completion of a continous combine and going into LTP, you are then placed under arbitrary timelines again. ie: Complete the LTP in 2 months. So initially you have people opting for the continuous combine for the specific reason that they prefer a more patient, low risk, baby steps approach. Yet when reaching LTP that no longer applies.
  • When going live with TST, you have a trailing max drawdown. Essentially that is the risk that the equity partner is happy to take on given that the newly funded trader has proven themselves. However you no longer trail the drawdown up until zero as was the case in the past. Now you only trail that drawdown for an arbitrary 10 days. Then it all of a sudden it dissapears.

    Going back to people doing continous combines, they for a large part select this option because it more closely mimics real trading. There are no arbitrary deadlines which in real trading, mean nothing. They are able to build the account slowly and patiently with no artificial pressure placed by deadlines.

    Yet when you are funded, the mindset of the continous combine goes out the window. You are forced to build a big enough cushion in 10 trading days such that when you remove the trailing max drawdown, they are able to survive on the funds they've built up.

    So you have people passing continuous combines who took several months to do so, yet all of a sudden they have no more than 10 days to build a big cushion.
  • If a newly funded trader makes $300 for example in their first 10 days of being funded, and all of a sudden you remove the trailing max drawdown, they are guaranteed to fail. Yet this is someone who is building their account, showing discipline, and heading in the right direction. Im not sure I see how all of a sudden pulling the rug out from under this traders feet is a good thing.

Basically all my questions revolve around the same issue I see. On the one hand you have a continous combine that removes arbitrary deadlines and promotes patience and a base hits approach. Yet on the other hand as soon as you reach LTP and funding, arbitrary deadlines are placed on the trader. The trader can no longer continue with their patient approach to trading because these artificial deadlines now exist.

To illustrate the above issues with some recent examples of newly funded traders:
  • Recently patr82 was funded. He traded 72 days to get funded and averaged $41.6 / day
  • Recently daRake was funded. he traded 37 days to get funded and averaged $40.5 / day

These traders are well deserving of their success. Clearly the continuous combine suited their style. Yet when funded, TST expects them to build a cushion in 10 days at which point the rug gets pulled out from under them. Given a $40 / day average, if they continue trading in the same manner it is likely that after 10 days they will be sitting at somewhere around $400. How can they be expected to not fail at that point when TST removes their max trailing drawdown? All of a sudden their max risk is $400, or it's game over. But all they did was trade consistently in the same manner that they did throughout their combine.

My intention for this post is for it to be constructive, so my suggestions for the above issues would be:
  • If you pass a continuous combine and have taken several months to do so, then the LTP should also be of a continuous nature.
  • The trailing max drawdown for newly funded traders doesn't just disappear after 10 days. It trails up till zero exactly how it use to (thus eliminating the equity partners risk at that point)

Thanks Mike. Looking forward to hearing your thoughts.

im not sure where you are seeing this rule?

Live Trader Preparation Rules ? Help & Feedback Center


Quoting 
Rules:

Always implement stops with an open position
Only trade permitted products, during the permitted times*
Achieve an Average Net P&L greater than $0 for each product traded (enforced after 10 trading days)
Achieve an overall Winning Day percentage of 45 or greater (enforced after 10 trading days)
Ensure my Largest Losing Day will not hit or exceed Daily/Weekly Loss Limit*
Ensure my Account Balance will not hit or exceed my Trailing Max Drawdown
Do not hold positions into major economic releases. Please follow the guidelines here.*
Follow the funded trader scaling plan here.
You may be eligible to revise the above listed rules on your Scout call. A Scout call is not required to begin your Live Trader Preparation period.

*Those who successfully complete the $10K or the $30k Combine will NOT have a Weekly Loss Limit

it also says you can have a custom LTP like a custom combine.

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

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madLyfe View Post
im not sure where you are seeing this rule?

Live Trader Preparation Rules ? Help & Feedback Center



it also says you can have a custom LTP like a custom combine.

Here:

Futures Funded Trader Rules ? Help & Feedback Center

They only provide their max trailing drawdown for 10 days for newly funded traders. Then it disappears and you are on your own. You cannot let your balance return to 0.

Regarding LTP, I am yet to see anyone have an LTP that is not 2 months in duration. Ask around...

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@TopstepTrader Mike,

I have a few questions, I hope you can spend some time addressing these concerns. The continuous combine is an excellent addition to TST. The message of the continous combine being: patience, discipline, no arbitrary deadlines. Just trade your plan consistently.

Now to my concerns:
  • Upon completion of a continous combine and going into LTP, you are then placed under arbitrary timelines again. ie: Complete the LTP in 2 months. So initially you have people opting for the continuous combine for the specific reason that they prefer a more patient, low risk, baby steps approach. Yet when reaching LTP that no longer applies.
  • When going live with TST, you have a trailing max drawdown. Essentially that is the risk that the equity partner is happy to take on given that the newly funded trader has proven themselves. However you no longer trail the drawdown up until zero as was the case in the past. Now you only trail that drawdown for an arbitrary 10 days. Then it all of a sudden it dissapears.

    Going back to people doing continous combines, they for a large part select this option because it more closely mimics real trading. There are no arbitrary deadlines which in real trading, mean nothing. They are able to build the account slowly and patiently with no artificial pressure placed by deadlines.

    Yet when you are funded, the mindset of the continous combine goes out the window. You are forced to build a big enough cushion in 10 trading days such that when you remove the trailing max drawdown, they are able to survive on the funds they've built up.

    So you have people passing continuous combines who took several months to do so, yet all of a sudden they have no more than 10 days to build a big cushion.
  • If a newly funded trader makes $300 for example in their first 10 days of being funded, and all of a sudden you remove the trailing max drawdown, they are guaranteed to fail. Yet this is someone who is building their account, showing discipline, and heading in the right direction. Im not sure I see how all of a sudden pulling the rug out from under this traders feet is a good thing.

Basically all my questions revolve around the same issue I see. On the one hand you have a continous combine that removes arbitrary deadlines and promotes patience and a base hits approach. Yet on the other hand as soon as you reach LTP and funding, arbitrary deadlines are placed on the trader. The trader can no longer continue with their patient approach to trading because these artificial deadlines now exist.

To illustrate the above issues with some recent examples of newly funded traders:
  • Recently patr82 was funded. He traded 72 days to get funded and averaged $41.6 / day
  • Recently daRake was funded. he traded 37 days to get funded and averaged $40.5 / day

These traders are well deserving of their success. Clearly the continuous combine suited their style. Yet when funded, TST expects them to build a cushion in 10 days at which point the rug gets pulled out from under them. Given a $40 / day average, if they continue trading in the same manner it is likely that after 10 days they will be sitting at somewhere around $400. How can they be expected to not fail at that point when TST removes their max trailing drawdown? All of a sudden their max risk is $400, or it's game over. But all they did was trade consistently in the same manner that they did throughout their combine.

My intention for this post is for it to be constructive, so my suggestions for the above issues would be:
  • If you pass a continuous combine and have taken several months to do so, then the LTP should also be of a continuous nature.
  • The trailing max drawdown for newly funded traders doesn't just disappear after 10 days. It trails up till zero exactly how it use to (thus eliminating the equity partners risk at that point)

Thanks Mike. Looking forward to hearing your thoughts.

Hi DarkPoolTrading,

First and foremost, thank you for your feedback.

Let me start by saying that one of the main fallacies between what you're referring to and what actually normally happens in successful Continuous Combines, is exactly what you highlight, time. The VAST majority of successful Continuous Combines are completed within 10-15 days.

When we first introduced the Continuous Combine it was absolutely our intention to give traders as much time as they needed to meet the objective by not having to trade as large of size or overtrade due to an, as you call it, arbitrary timeline. However, we soon realized that what we actually did was create a little bit of a 2-headed monster, if you will.

More and more traders were successful and getting funded, but not by showing us a large sample pool of say 25+ trading days, but rather just more successfully completing the Combine in 10 trading days. The reason being that they had no pressure. However, we all know that the live markets create a whole new sense of pressure.

So after funding these traders and seeing that their performance was far worse in the funded accounts than what was previously the case when we had only 10 and 20 day Combines, we realized something had to change.

Therefore, we implemented the Live Trader Preparation with a generous time limit of up to 2 months to complete. Again though, most who are successful in LTP complete it in 10 consecutive days. Below is a list of a few recent successful LTP's who are getting funded.

laureno 1/28-2/11 exactly 2 weeks, traded 10
Devco1 1/28-2/10 exactly 2 weeks, traded 10
TraderVa 1/14-1/30 exactly 2 weeks, traded 10 days
MrBrunotte 1/19-2/2 traded 11 days
famumoe 1/20- 2/2 exactly 2 weeks, traded 10 days
Mark8_Tr8der 1/19-1/30 exactly 2 weeks, traded 10 days
bmoore 1/8-1/29 traded 12 days
vladisslavpv 1/15-1/29 exactly 2 weeks, traded 10 days

So when you state, "Regarding LTP, I am yet to see anyone have an LTP that is not 2 months in duration. Ask around..." that simply isn't true. Likely what you are basing that on is the time we make a Newest Funded Trader announcement versus the time someone successfully completes a Combine.

Right now we are averaging account openings in 1.5 weeks from the time someone successfully completes a Combine or LTP. Most of our Newest Funded Traders are already trading on their live account by the time we announce or interview them. Also, there is a myriad of reasons why trades want to wait to start trading on their accounts, for instance the holidays and volume were a big one. And as you can see by the 46 traders we’ve already funded this year, the pipeline gets full pretty quickly when it comes to announcing and scheduling Newest Funded Trader interviews, so definitely don't base anything off that if that's is in fact what you were referring to.

Last, in regards to the Funded Trader Scaling Plan and Trailing Max Drawdown after 10 days, the entire point of that is to ease traders into the live market, not to intimidate or stack the odds against anyone. Our equity partner funded a lot of traders letting them come out of the gate with their Loss Limit and Drawdown and most came out swinging with large size and we're done before they even started.

We introduced this scaling plan and drawdown method to purposely deter traders from doing that. To stay the course, do what made them successful strategy wise, focus on the process and the rest will take of itself. Ultimately, it has paid off. Our traders are trading immensely better and taking more withdrawals since it's inception and as you can tell from the 46+ traders we've funded since the new year, our equity partner is pleased with it's success as well.

All of this being said, I definitely realize there are areas for improvement, and the Continuous Combine and/or LTP/Funded is by no means perfect. So I do agree with you that if someone has gotten funded by trading consistently over the course of say 30+ days, they probably deserve and should be treated a little differently. We do our best to be as objective and transparent as possible (or else we'd get eaten alive on forums like this!), but I'm not so naive as to think that each situation should be treated the same.

What I will promise you DarkPoolTrading is that I will meet with the Scout Team and try to wrap our heads around those that complete the Combine in an extended period of time and how we can fairly treat them while balancing everyone's best interests. We will always strive to make things the best they can possibly be. This helps, so thank you for that.

Trade well,

Mp

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  #461 (permalink)
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TopstepTrader View Post
Hi DarkPoolTrading,

First and foremost, thank you for your feedback.

Let me start by saying that one of the main fallacies between what you're referring to and what actually normally happens in successful Continuous Combines, is exactly what you highlight, time. The VAST majority of successful Continuous Combines are completed within 10-15 days.

When we first introduced the Continuous Combine it was absolutely our intention to give traders as much time as they needed to meet the objective by not having to trade as large of size or overtrade due to an, as you call it, arbitrary timeline. However, we soon realized that what we actually did was create a little bit of a 2-headed monster, if you will.

More and more traders were successful and getting funded, but not by showing us a large sample pool of say 25+ trading days, but rather just more successfully completing the Combine in 10 trading days. The reason being that they had no pressure. However, we all know that the live markets create a whole new sense of pressure.

So after funding these traders and seeing that their performance was far worse in the funded accounts than what was previously the case when we had only 10 and 20 day Combines, we realized something had to change.

Therefore, we implemented the Live Trader Preparation with a generous time limit of up to 2 months to complete. Again though, most who are successful in LTP complete it in 10 consecutive days. Below is a list of a few recent successful LTP's who are getting funded.

laureno 1/28-2/11 exactly 2 weeks, traded 10
Devco1 1/28-2/10 exactly 2 weeks, traded 10
TraderVa 1/14-1/30 exactly 2 weeks, traded 10 days
MrBrunotte 1/19-2/2 traded 11 days
famumoe 1/20- 2/2 exactly 2 weeks, traded 10 days
Mark8_Tr8der 1/19-1/30 exactly 2 weeks, traded 10 days
bmoore 1/8-1/29 traded 12 days
vladisslavpv 1/15-1/29 exactly 2 weeks, traded 10 days

So when you state, "Regarding LTP, I am yet to see anyone have an LTP that is not 2 months in duration. Ask around..." that simply isn't true. Likely what you are basing that on is the time we make a Newest Funded Trader announcement versus the time someone successfully completes a Combine.

Right now we are averaging account openings in 1.5 weeks from the time someone successfully completes a Combine or LTP. Most of our Newest Funded Traders are already trading on their live account by the time we announce or interview them. Also, there is a myriad of reasons why trades want to wait to start trading on their accounts, for instance the holidays and volume were a big one. And as you can see by the 46 traders we’ve already funded this year, the pipeline gets full pretty quickly when it comes to announcing and scheduling Newest Funded Trader interviews, so definitely don't base anything off that if that's is in fact what you were referring to.

Last, in regards to the Funded Trader Scaling Plan and Trailing Max Drawdown after 10 days, the entire point of that is to ease traders into the live market, not to intimidate or stack the odds against anyone. Our equity partner funded a lot of traders letting them come out of the gate with their Loss Limit and Drawdown and most came out swinging with large size and we're done before they even started.

We introduced this scaling plan and drawdown method to purposely deter traders from doing that. To stay the course, do what made them successful strategy wise, focus on the process and the rest will take of itself. Ultimately, it has paid off. Our traders are trading immensely better and taking more withdrawals since it's inception and as you can tell from the 46+ traders we've funded since the new year, our equity partner is pleased with it's success as well.

All of this being said, I definitely realize there are areas for improvement, and the Continuous Combine and/or LTP/Funded is by no means perfect. So I do agree with you that if someone has gotten funded by trading consistently over the course of say 30+ days, they probably deserve and should be treated a little differently. We do our best to be as objective and transparent as possible (or else we'd get eaten alive on forums like this!), but I'm not so naive as to think that each situation should be treated the same.

What I will promise you DarkPoolTrading is that I will meet with the Scout Team and try to wrap our heads around those that complete the Combine in an extended period of time and how we can fairly treat them while balancing everyone's best interests. We will always strive to make things the best they can possibly be. This helps, so thank you for that.

Trade well,

Mp

Thanks Mike for your reply, and thank you for taking the feedback in the way it was intended,...to be constructive.

It is great that so many newly funded traders that passed a continuous combine were able to pass both the combine and LTP in 10-15 days. However when it comes to someone who does a continuous combine and takes 30+ trading days to complete it,...they cannot be treated the same.

Regarding the scaling plan, I think it is excellent and agree that it benefits all parties.

However I must disagree that removing the trailing max drawdown after 10 days is somehow a good thing. The thing that eases traders into live trading is the scaling plan. Not removing the rug from under their feet after 10 days. But once again, this may not be a one size fits all scenario. For a trader who takes 30+ days to complete a combine, this rule does not make sense.

All im suggesting is that when someone proves during their combine that they take longer to build up an account,...don't then expect them to all of a sudden be able to change that when deadlines are placed on them during LTP and the funded level.

Thank you for the promise to discuss this with the scout team.

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  #462 (permalink)
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Do you have a timeline for adding EUREX products in combine?

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@TopstepTrader Michael,

Please change your default combine report so the user credentials are hidden. Lots of users posting screenshots to futures.io (formerly BMT) that contain their credentials because they are displayed by default.

Mike

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Big Mike View Post
@TopstepTrader Michael,

Please change your default combine report so the user credentials are hidden. Lots of users posting screenshots to futures.io (formerly BMT) that contain their credentials because they are displayed by default.

Mike

I sent an email to TsT support this morning on the same subject. Response:


Quoting 
Laura replied:
Hi Bob,

Thank you for sharing your suggestion with us. I think that is a great idea and I will certainly pass it along to the appropriate person.

Have a great day,

Laura

It has become an important issue.

Bob.

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@TopstepTrader Michael,

Please change your default combine report so the user credentials are hidden. Lots of users posting screenshots to futures.io (formerly BMT) that contain their credentials because they are displayed by default.

Mike

ALL-

We have made the necessary changes as requested and have pushed it live today. It should default to hidden now. Thank you for your feedback.

Best,

Michael

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hi Michael
what happens to daily loss limit when it comes to scaling up ? TST website says by increasing cushion, a trader can increase it's trading lots .but what happens to important factor of daily loss limit? will DLL increase as well? for example consider if you are trading a live funded 30k combine with 500$ DLL.if you can generate 4500$ you can use 5 lots as scaling plan explains.but what will be the DLL for this 5 lots ?

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algorithmic View Post
hi Michael
what happens to daily loss limit when it comes to scaling up ? TST website says by increasing cushion, a trader can increase it's trading lots .but what happens to important factor of daily loss limit? will DLL increase as well? for example consider if you are trading a live funded 30k combine with 500$ DLL.if you can generate 4500$ you can use 5 lots as scaling plan explains.but what will be the DLL for this 5 lots ?

algorithmic- Thanks for your inquiry. This is an important thing to consider when choosing which account parameters you'd like to be evaluated under, because your Daily Loss Limit will remain the same when you initially start on a funded account.

That being said, our Scout Team and Equity Partner are open to negotiation as Funded Traders build their account. The more successful you are in building up the account, the more this becomes a partnership. If you've proven you can trade and have built equity and buying power, we are definitely willing to negotiate (increase) your Loss Limit if the trader makes a request.

As always, we try to state everything very objectively and explicitly on the website. But in reality, there is subjectivity to certain items, such as the Daily Loss Limit at the Funded Level for someone who is trading well.

Hope that helps,

Michael

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Hi,

Do you have plans for a stock trading combine in the near future?

Thanks

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Hi,

Do you have plans for a stock trading combine in the near future?

Thanks

bmmartin- We are working this direction.

Michael

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TopstepTrader View Post
bmmartin- We are working this direction.

Michael

For at least 6 months you have "Coming Soon" on your website in your forex combine section.

How soon is soon?

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ArbTrader View Post
Do you have a timeline for adding EUREX products in combine?

Michael,

Any news on this? I'm sure a large number of traders will be interested.

PK

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PK007 View Post
Michael,

Any news on this? I'm sure a large number of traders will be interested.

PK

PK- Nothing new to update except that this is high on our priority list.

Will keep you posted on any updates.

Trade well,

Michael

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Market Wizard
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What do you think about new combine with LTP rules ?


Reasoning behind it :

Lets say you try 10 times and you pass Combine with Combine rules and then LTP with additional rule that
makes it totally different, then its bad. To me it ment I cant trade CL like in first Continues Combine that I passed in 28 days

It would be better if you make 2 changes in Combine :
- additional rule daily loss limit = weekly loss limit
- and profit goal 1,5 x

If we add together Combine + LTP rules then that is actually what we need to pass before we can go LIVE.

Example 50'000 $ Continues Combine with 3000 $ target is actually 4500 $ as target + rule daily loss limit = weekly loss limit.

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  #474 (permalink)
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lemons View Post
What do you think about new combine with LTP rules ?


Reasoning behind it :

Lets say you try 10 times and you pass Combine with Combine rules and then LTP with additional rule that
makes it totally different, then its bad. To me it ment I cant trade CL like in first Continues Combine that I passed in 28 days

It would be better if you make 2 changes in Combine :
- additional rule daily loss limit = weekly loss limit
- and profit goal 1,5 x

If we add together Combine + LTP rules then that is actually what we need to pass before we can go LIVE.

Example 50'000 $ Continues Combine with 3000 $ target is actually 4500 $ as target + rule daily loss limit = weekly loss limit.

Lemons,

First off, thank you for the thoughts and ideas. For now this is what we see working for our traders but we are always willing to listen to good ideas.

Thank you again,

Hoag

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  #475 (permalink)
Market Wizard
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Lets be honest its is different ball game.

Lets take basketball, my favorite sport
In regular season free throw line = free throw line
but in play offs and finals free throw line = 3 point line

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  #476 (permalink)
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lemons View Post
Lets be honest its is different ball game.

Lets take basketball, my favorite sport
In regular season free throw line = free throw line
but in play offs and finals free throw line = 3 point line

Lemons,

The $10K and $30k Combines do not have weekly loss limits set when a trader advances to the Funded Account. If the weekly loss limit is a concern, we advise traders to enter one of these Combines.

I hope that helps.

Michael

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Lemons,

The $10K and $30k Combines do not have weekly loss limits set when a trader advances to the Funded Account. If the weekly loss limit is a concern, we advise traders to enter one of these Combines.

I hope that helps.

Michael

Please confirm that max loss limit in 30 k = 1500 $ and if LTP needed then in LTP its also 1500 $
not cut in half like in 50 k Combine ?

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  #478 (permalink)
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lemons View Post
Please confirm that max loss limit in 30 k = 1500 $ and if LTP needed then in LTP its also 1500 $
not cut in half like in 50 k Combine ?

Lemons- I can confirm that the $30k has no weekly loss limit and the Max Drawdown is $1,500.

You can see greater detailed for Funded Accounts found in our "learn more" section. As you will notice there is no weekly loss limit for the $10k and $30k Funded Accounts (this is the same risk as LTP, which is now called Funded Trader Preperation (FTP)).

Let me know if you have any further questions.

Michael

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  #479 (permalink)
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Lemons- I can confirm that the $30k has no weekly loss limit and the Max Drawdown is $1,500.

You can see greater detailed for Funded Accounts found in our "learn more" section. As you will notice there is no weekly loss limit for the $10k and $30k Funded Accounts (this is the same risk as LTP, which is now called Funded Trader Preperation (FTP)).

Let me know if you have any further questions.

Michael

Thank you

Now its clear

30 k Combine is the best option

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lemons View Post
Thank you

Now its clear

30 k Combine is the best option

Glad we could clear that up. I hope you have a good weekend and trade well next week.

Michael

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  #481 (permalink)
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Could anybody tell me as of now a full list of what instruments can be traded now during the combine?

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  #482 (permalink)
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emini2000 View Post
Could anybody tell me as of now a full list of what instruments can be traded now during the combine?

Permissible Products/Times to Trade ? Help & Feedback Center

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  #483 (permalink)
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Good evening Michael and maybe John can answer here as well. My question is how do you decide what combine recruits go through LTP and which ones do not if I may ask?

If a recruit puts in the combine + LTP total $$ using LTP rules, should a recruit be required to do LTP?

I am of course being somewhat self serving here Boss.

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  #484 (permalink)
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As part of due diligence I want to know the CEO compensation of a publicly traded company. I would think this info is filed with the SEC. Can you tell me what forms to search for and the best websites to search? Thanks DAve H

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  #485 (permalink)
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t0030tr View Post
Good evening Michael and maybe John can answer here as well. My question is how do you decide what combine recruits go through LTP and which ones do not if I may ask?

If a recruit puts in the combine + LTP total $$ using LTP rules, should a recruit be required to do LTP?

I am of course being somewhat self serving here Boss.

Hello "T"

The Traders who are asked to perform in the Funded Trader Preparation are mainly asked for more information due to an inconsistency in their trading metrics. Large swings in volume, wins vs. losses, risk/reward and overall win percentage to name a few. It's less about the money and more about risk control and consistency.

Hoag

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  #486 (permalink)
Market Wizard
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Hoag View Post
Hello "T"

The Traders who are asked to perform in the Funded Trader Preparation are mainly asked for more information due to an inconsistency in their trading metrics. Large swings in volume, wins vs. losses, risk/reward and overall win percentage to name a few. It's less about the money and more about risk control and consistency.

Hoag

But way LTP is different than Combine ?
On Monday I heard that LTP is not continues like Combine.

Its another thing that Combine trader must change.

In Combine we trade one way.
In LTP we need to trade other way.

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  #487 (permalink)
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Hoag View Post
Hello "T"

The Traders who are asked to perform in the Funded Trader Preparation are mainly asked for more information due to an inconsistency in their trading metrics. Large swings in volume, wins vs. losses, risk/reward and overall win percentage to name a few. It's less about the money and more about risk control and consistency.

Hoag

Ugh, thanks for the reply John, I figured you would say something like that. Alright see you in LTP/FTP sir.

BTW have always wanted to spend some training time with you, just haven't had the time.. It will still happen though at some point.

Thanks, again John

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  #488 (permalink)
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lemons View Post
But way LTP is different than Combine ?
On Monday I heard that LTP is not continues like Combine.

Its another thing that Combine trader must change.

In Combine we trade one way.
In LTP we need to trade other way.

I don't think that is the case Lemons. The way to trade for TST remains the same always. Remain profitable.

If you have the skill versatility as a trader to pass a combine, I am sure LTP/FTP will come easy. After all, if you can be profitable conforming to someone else's trading standards, a change in standards won't matter all that much. It then becomes just a matter of time.

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  #489 (permalink)
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I really like the challenge. I've become more disciplined and technical, and less discretionary. Which is how I would need to be trading an underfunded account of my own. I would really like the chance to get funded just because there is a lot of great mentorship available with TST, and looking at the rules and target, it really doesn't seem to hard to me. It's all about sizing positions for the size of the account, sticking to your stoploss, and finding a way of trying to stay out of bad trades.

To any other TST guys, I'm AndrewGar95 in the squawk radio room. Usually in a few days a week, sometimes I'm zoned in enough I don't go in. Or listening to Tasty Trade.

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  #490 (permalink)
Market Wizard
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t0030tr View Post
I don't think that is the case Lemons. The way to trade for TST remains the same always. Remain profitable.

If you have the skill versatility as a trader to pass a combine, I am sure LTP/FTP will come easy. After all, if you can be profitable conforming to someone else's trading standards, a change in standards won't matter all that much. It then becomes just a matter of time.

No.

Combine is continues but LTP is fix to 10 trading days.
Lets say in Continues Combine your average day is 50 $.
Lets say you keep the same average 50 $ day then with
10 days you make 500 $ but passing the LTP you need to
make depending of Combine. 30'000 LTP target is 750 $
50'000 LTP target is 1500$.

You can be successful in many Combines but you can never
pass the LTP with 50 $ daily average.

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  #491 (permalink)
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t0030tr View Post
I don't think that is the case Lemons. The way to trade for TST remains the same always. Remain profitable.

No unfortunately that is not correct. The rules do change and they severely hurt traders who trade the continuous combine the way it is meant to be traded (ie: base hits over a long period of time not looking for quick profits and home runs).

This was detailed here:


TST promised to review this rule but it seems their business model simply works too well to change.

If you're someone doing a continuous combine and do not complete it in 10 days, then both LTP and the first 10 days of live trading set you up for failure.

In my honest opinion, the continuous combine is a farce. Either ensure you can pass the combine in 10 days (thus allowing you to trade in the same manner during LTP and live). Or simply use the continuous combine as a place to learn and leave it at that.

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  #492 (permalink)
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DarkPoolTrading View Post
No unfortunately that is not correct. The rules do change and they severely hurt traders who trade the continuous combine the way it is meant to be traded (ie: base hits over a long period of time not looking for quick profits and home runs).

This was detailed here:


TST promised to review this rule but it seems their business model simply works too well to change.

If you're someone doing a continuous combine and do not complete it in 10 days, then both LTP and the first 10 days of live trading set you up for failure.

In my honest opinion, the continuous combine is a farce. Either ensure you can pass the combine in 10 days (thus allowing you to trade in the same manner during LTP and live). Or simply use the continuous combine as a place to learn and leave it at that.


Apologies Dark Pool, I did not consider the combine in this context. For me it is the revere I guess. I have struggled to get to the end of 10 days. For myself it has been a complete dismissal of the daily draw down as I have been solely focused on the process. Not being able to hit target in ten days would completely elude me personally. I suppose I did not think of the combine in the context that it was considered for originally. For me it was something else, meaning having the ability to restart on failure at a lower cost until I could master the process.

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  #493 (permalink)
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lemons View Post
No.

Combine is continues but LTP is fix to 10 trading days.
Lets say in Continues Combine your average day is 50 $.
Lets say you keep the same average 50 $ day then with
10 days you make 500 $ but passing the LTP you need to
make depending of Combine. 30'000 LTP target is 750 $
50'000 LTP target is 1500$.

You can be successful in many Combines but you can never
pass the LTP with 50 $ daily average.

Perhaps TST is seeking people who intend to trade professionally. Based on that number, a person would never be considered a professional trader. I suppose this might be a lot of money in some places of the world, but here in the US, it would probably not seem a worthwhile en devour to an equity partner.

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  #494 (permalink)
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DarkPoolTrading View Post
No unfortunately that is not correct. The rules do change and they severely hurt traders who trade the continuous combine the way it is meant to be traded (ie: base hits over a long period of time not looking for quick profits and home runs).

This was detailed here:


TST promised to review this rule but it seems their business model simply works too well to change.

If you're someone doing a continuous combine and do not complete it in 10 days, then both LTP and the first 10 days of live trading set you up for failure.

In my honest opinion, the continuous combine is a farce. Either ensure you can pass the combine in 10 days (thus allowing you to trade in the same manner during LTP and live). Or simply use the continuous combine as a place to learn and leave it at that.

you have 60 days to complete LTP. your trailing drawdown gets moved up after 10 trading days. I don't see the issue here. @lemons keeps using a low average daily profit as an example of how moving that drawdown is unfair. I don't see it that way. I see this as a business on both sides. they provide the ability for people with the ability to trade profitably the chance to get funding if that is not possible themselves. they also are in the business of making money. there are good days and bad days in trading but if someone told me that I could only make a 50avg/day for the rest of my trading career, I wouldn't continue.

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  #495 (permalink)
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madLyfe View Post
you have 60 days to complete LTP. your trailing drawdown gets moved up after 10 trading days. I don't see the issue here.

The issue is described in detail in the link I posted. But to summarize:

Lets say a trader does the 50k continuous combine and takes 3 months to complete it. That means it took him 3 months to make $3K. If that trader moves to the next stages he is expected to build a big enough cushion in 10 days such that the trailing drawdown can be moved up and he has to rely on whatever profit he has made in 10 days.

You are asking someone who took 3 months to make $3k to all of a sudden change the way he trades because of an arbitrary 10 days. Simply put, if the combine is continuous, so should ltp and live.

The very nature of the continuous combine (the way it is marketed to the public) is that you don't have to rush. It attracts traders with this mindset and style of trading. Yet when they pass, all of a sudden an arbitrary 10 day deadline is placed on them.

Anyway, I will refrain from rehashing the issue because it seems nothing will be done about this and I no longer participate in the combine anyway. Just thought I would post the link since it was relevant to the discussion.

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  #496 (permalink)
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DarkPoolTrading View Post
The issue is described in detail in the link I posted. But to summarize:

Lets say a trader does the 50k continuous combine and takes 3 months to complete it. That means it took him 3 months to make $3K. If that trader moves to the next stages he is expected to build a big enough cushion in 10 days such that the trailing drawdown can be moved up and he has to rely on whatever profit he has made in 10 days.

You are asking someone who took 3 months to make $3k to all of a sudden change the way he trades because of an arbitrary 10 days. Simply put, if the combine is continuous, so should ltp and live.

The very nature of the continuous combine (the way it is marketed to the public) is that you don't have to rush. It attracts traders with this mindset and style of trading. Yet when they pass, all of a sudden an arbitrary 10 day deadline is placed on them.

Anyway, I will refrain from rehashing the issue because it seems nothing will be done about this and I no longer participate in the combine anyway. Just thought I would post the link since it was relevant to the discussion.

i get what you are saying and maybe they need to make it more clear of the 10 day trailing drawdown on the continuous combines. i know ive stated that they need to put that rule above in the trade report like with the other rules just for good measure. that still doesnt change the fact that they need people to perform and not flounder about.

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  #497 (permalink)
Market Wizard
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madLyfe View Post
i get what you are saying and maybe they need to make it more clear of the 10 day trailing drawdown on the continuous combines. i know ive stated that they need to put that rule above in the trade report like with the other rules just for good measure. that still doesnt change the fact that they need people to perform and not flounder about.

Agreed, thats why Combine must have LTP rules.

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  #498 (permalink)
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lemons View Post
Agreed, thats why Combine must have LTP rules.

or, if you cant adjust, take a regular 10day combine.

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

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  #499 (permalink)
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This is a question for Michael.

At the moment I am doing a continuous combine.

The method being used... trading news releases using specialized bracketing software.

Just starting the second month in the combine now and have gone passed the target level but need to bring one product above zero.

From the start I had planned on trading the 2 month minimum regardless of when the target was hit.

Reason being... I was told or read somewhere that you could trade the news releases in the combine but could not trade the news with a live funded account until you built up equity using some other method.

Because of this rule... I was hoping that if I could show consistant growth in the account with little drawdown, minimal contracts, and with tight stoplosses, etc... that the equity partner could be convinced to allow me to trade in a live account without having to find some other way to build up equity.

Personally... I don't want to trade any other way... I could make a long list of reasons why this method works well... but the main thing is... everybody has to find their own niche and after 20 years of looking for something that fits and feels right... this is it.

This business requires the trader to keep evolving and changing with the market conditions and new technology... and am hoping that TST and the equity partner will too.

So the question is... if a trader could pass the combine successfully trading news releases... why would he/she not be allowed to trade a live funded account using the same parameters/method from the beginning?

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  #500 (permalink)
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the reason is simple: you can trade news release using bracket order on a SIM account with nice profit due to unrealistic fills, but stand no chance on a live account when the book is thin and move is volatile during news releases.

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