NexusFi: Find Your Edge


Home Menu

 





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


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one Topstep with 258 posts (612 thanks)
    2. looks_two bobwest with 121 posts (306 thanks)
    3. looks_3 Big Mike with 49 posts (167 thanks)
    4. looks_4 emini2000 with 36 posts (16 thanks)
      Best Posters
    1. looks_one Big Mike with 3.4 thanks per post
    2. looks_two DarkPoolTrading with 2.8 thanks per post
    3. looks_3 bobwest with 2.5 thanks per post
    4. looks_4 Topstep with 2.4 thanks per post
    1. trending_up 491,349 views
    2. thumb_up 2,123 thanks given
    3. group 387 followers
    1. forum 1,296 posts
    2. attach_file 44 attachments




Closed Thread
 
Search this Thread

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

  #491 (permalink)
 
DarkPoolTrading's Avatar
 DarkPoolTrading   is a Vendor
 
Posts: 1,036 since May 2012
Thanks Given: 1,244
Thanks Received: 1,326


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.

Diversification is the only free lunch
Follow me on Twitter

Can you help answer these questions
from other members on NexusFi?
Are there any eval firms that allow you to sink to your …
Traders Hideout
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
Better Renko Gaps
The Elite Circle
Exit Strategy
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
The Program
18 thanks
Battlestations: Show us your trading desks!
18 thanks
  #492 (permalink)
 
t0030tr's Avatar
 t0030tr 
Detroit, Michigan, USA
 
Experience: Advanced
Platform: NT8 w/TTP
Broker: IB/Kinetick/CQG
Trading: NQ
Posts: 71 since Jun 2013
Thanks Given: 28
Thanks Received: 84


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.

  #493 (permalink)
 
t0030tr's Avatar
 t0030tr 
Detroit, Michigan, USA
 
Experience: Advanced
Platform: NT8 w/TTP
Broker: IB/Kinetick/CQG
Trading: NQ
Posts: 71 since Jun 2013
Thanks Given: 28
Thanks Received: 84



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.

  #494 (permalink)
 
madLyfe's Avatar
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
Posts: 1,641 since Feb 2011
Thanks Given: 9,220
Thanks Received: 1,020


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.

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

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
Visit my NexusFi Trade Journal
Thanked by:
  #495 (permalink)
 
DarkPoolTrading's Avatar
 DarkPoolTrading   is a Vendor
 
Posts: 1,036 since May 2012
Thanks Given: 1,244
Thanks Received: 1,326


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.

Diversification is the only free lunch
Follow me on Twitter
Thanked by:
  #496 (permalink)
 
madLyfe's Avatar
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
Posts: 1,641 since Feb 2011
Thanks Given: 9,220
Thanks Received: 1,020


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.

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

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
Visit my NexusFi Trade Journal
  #497 (permalink)
 
lemons's Avatar
 lemons 
Tallinn, Estonia
 
Experience: Beginner
Platform: SC
Trading: NAS100
Posts: 959 since Nov 2010


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.

  #498 (permalink)
 
madLyfe's Avatar
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
Posts: 1,641 since Feb 2011
Thanks Given: 9,220
Thanks Received: 1,020


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

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
Visit my NexusFi Trade Journal
Thanked by:
  #499 (permalink)
 tradertron 
Courtenay, Vancouver Island, Canada
 
Experience: Intermediate
Platform: NT
Trading: futures
Posts: 12 since Feb 2011
Thanks Given: 8
Thanks Received: 0

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?

  #500 (permalink)
 shzhning 
Madison, NJ
 
Experience: Intermediate
Platform: CQG/TOS
Broker: Optimus/CQG
Trading: ZN/TN/ES/NQ
Posts: 134 since Jun 2010
Thanks Given: 65
Thanks Received: 112


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.


Closed Thread



Last Updated on January 31, 2023


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts