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



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


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one Topstep with 244 posts (599 thanks)
    2. looks_two bobwest with 109 posts (283 thanks)
    3. looks_3 Big Mike with 48 posts (165 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 2.6 thanks per post
    4. looks_4 Topstep with 2.5 thanks per post
    1. trending_up 302,945 views
    2. thumb_up 2,015 thanks given
    3. group 379 followers
    1. forum 1,210 posts
    2. attach_file 38 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

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

(login for full post details)
  #501 (permalink)
DrewDown
Kansas City, MO U.S.
 
 
Posts: 211 since Mar 2015
Thanks: 301 given, 122 received

IMO, trading the news is gambling. Smart professionals stay flat until the reaction.

Reply With Quote
The following user says Thank You to DrewDown for this post:
 
(login for full post details)
  #502 (permalink)
 tradertron 
Courtenay, Vancouver Island, Canada
 
Experience: Intermediate
Platform: NT
Trading: futures
 
Posts: 12 since Feb 2011
Thanks: 8 given, 0 received


shzhning View Post
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.

You know this from personal experience?

Reply With Quote
 
(login for full post details)
  #503 (permalink)
 tradertron 
Courtenay, Vancouver Island, Canada
 
Experience: Intermediate
Platform: NT
Trading: futures
 
Posts: 12 since Feb 2011
Thanks: 8 given, 0 received


DrewDown View Post
IMO, trading the news is gambling. Smart professionals stay flat until the reaction.

Have seen screenshots of live accounts using this software and showing nice returns... and also some video's of live trades getting about the same fills as sim101. Slippage is an issue... but it goes both ways.

What little I could find on the subject said their fills on a live account weren't much different than sim.

Would be interested in hearing from anybody who has traded news releases on a live account compared to sim.

As mentioned earlier everything is evolving... software/hardware is getting more efficient... fills are happening faster... it's not the same as it was even a year ago.

Reply With Quote
 
(login for full post details)
  #504 (permalink)
 matthew28 
Legendary Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Trading: US Equity Index Futures
 
matthew28's Avatar
 
Posts: 977 since Sep 2013
Thanks: 2,451 given, 1,761 received

tradertron
This will be where you read the news rule.
I can't imagine it would be worth asking them to relax it for you unless you could show that you have traded your method on a live account with good results. Even just a few contracts live is going to fill differently to sim.

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #505 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,566 received


tradertron View Post
Have seen screenshots of live accounts using this software and showing nice returns... and also some video's of live trades getting about the same fills as sim101. Slippage is an issue... but it goes both ways.

What little I could find on the subject said their fills on a live account weren't much different than sim.

Would be interested in hearing from anybody who has traded news releases on a live account compared to sim.

As mentioned earlier everything is evolving... software/hardware is getting more efficient... fills are happening faster... it's not the same as it was even a year ago.

Hi there

I have been a news trader on forex for several years.

To cut the story short, you can trade news on futures, but it's not an easy task and far more difficult than just straddling the market. In regards to the fills, actually you might be right comparing fills on Ninja's Sim101 and live account, if Simulation is set up pessimistically (this is by default AFAIR) and in my experience slippages on a simulator can be really greater than live. However. When trading Combine you are not trading on Ninja Sim, but on TST Sim. Not sure how the one for Ninja works, but in my experience trading with tst using T4 and Sierra, CTS Sim is incredibly optimistic, actually giving you positive slippage quite oftenly. This is not to be expected in live market.

I believe you can test it for yourself and know for sure by opening a small live account yourself and do few trades during news releases with 1 contract.

IMO there are better ways to trade, but trading news has one big advantage - you know when to trade and never overtrade nor spend countless hours in front of PC waiting for pieces to form a jigsaw.

Trade to live. Not live to trade.
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #506 (permalink)
 tradertron 
Courtenay, Vancouver Island, Canada
 
Experience: Intermediate
Platform: NT
Trading: futures
 
Posts: 12 since Feb 2011
Thanks: 8 given, 0 received


matthew28 View Post
tradertron
This will be where you read the news rule.
I can't imagine it would be worth asking them to relax it for you unless you could show that you have traded your method on a live account with good results. Even just a few contracts live is going to fill differently to sim.

Thanks for finding this.

So this rule is basically referring to trades that are already in the market... a trade that has a bias... in which case you would be basically gambling going into a news release as it's a 50/50 chance or worse adding on commissions.

Also note that it says " In most cases, the Funding team would like funded traders to be flat..." So not all cases.

Trading the news release itself is a whole different ballgame... you are stepping up to the plate and ready with tools in hand for whatever happens... either way and without a bias. You are almost guaranteed that it is going to move at that point in time... and if it doesn't then you are out of the trade.

TST has evolved over that last few years with help from members in this community and others to improve upon it for all those involved.

I realize this is an uphill battle but maybe it is time to open this door a little more and change the way it's been looked at if a certain method can be shown to be profitable for the equtity partner.

As mentioned earlier everything is evolving and becoming faster and more efficient... traders are finding new ways to be successful in this ever changing marketplace.

I notice that most of the traders passing the combines are trading CL exclusively. It has been pointed out that CL was not moving like this a year ago. What will it be doing in a year from now?

News releases also change in importance and movement over time but you can easily go back and see those changes on a 1 second chart and adjust accordingly... so as an equity partner why not diversify and allow traders to trade the news releases right from the start if it's working.

If you don't want them to trade this way in a funded account then why bother to let them successfully pass a combine and get funded only to watch them flounder around trying to build up enough equity in the account by some other method that doesn't work for them? Unless all you wanted to do was make a few bucks off the combine... which I don't think is the case.

I haven't traded this live myself but as mentioned earlier I've seen live trades and live accounts showing good returns using this same specialized software.

Reply With Quote
 
(login for full post details)
  #507 (permalink)
 tradertron 
Courtenay, Vancouver Island, Canada
 
Experience: Intermediate
Platform: NT
Trading: futures
 
Posts: 12 since Feb 2011
Thanks: 8 given, 0 received


xelaar View Post
Hi there

I have been a news trader on forex for several years.

To cut the story short, you can trade news on futures, but it's not an easy task and far more difficult than just straddling the market. In regards to the fills, actually you might be right comparing fills on Ninja's Sim101 and live account, if Simulation is set up pessimistically (this is by default AFAIR) and in my experience slippages on a simulator can be really greater than live. However. When trading Combine you are not trading on Ninja Sim, but on TST Sim. Not sure how the one for Ninja works, but in my experience trading with tst using T4 and Sierra, CTS Sim is incredibly optimistic, actually giving you positive slippage quite oftenly. This is not to be expected in live market.

I believe you can test it for yourself and know for sure by opening a small live account yourself and do few trades during news releases with 1 contract.

IMO there are better ways to trade, but trading news has one big advantage - you know when to trade and never overtrade nor spend countless hours in front of PC waiting for pieces to form a jigsaw.

Thanks for chiming in.

If you are talking about trading with a forex broker on MT4 then that would be a different ballgame than with NT.

So you don't know for sure how the slippage compares on NT then. I guess the question would be why would slippage be different on TST sim then any other broker's sim accounts?

NT support say themselves that sim isn't the same as real but they do use different metrics such as the amount of orders sitting at the bid and ask, the speed of the market, etc. in order to get it close. You said it is set by default AFAIR. Does that mean the broker can change it to be less slippage or more slippage?

I would think that TST would want to at least have it set at default or set for more slippage so as to better weed out the traders. But again... slippage is a two-way street.
Maybe Michael can comment on this too... is slippage set different on the TST sim101 account?

Who's to say what is a better way to trade... for someone else. I say follow your own heart because it's your journey. But you did hit on some key points to what I am finding out about this style of trading.

-And that is... as you mentioned... that you don't over trade... there may be 5-10 good trading opportunities a week. I guess you could put on a trade afterwards using some other method but if you weren't confident with the method... why would you?

-If you want you can come in only 15 minutes before the news release to set everything up with complete focus on what needs to be done... and then take the time to analyse the trade after it is over. At most this would take an hour.
I personally take screenshots of past and present reports on a 1 second chart and am now taking videos of the trades so they can be analyzed in slow-mo afterwards. And also have spreadsheet for the vitals.

Knowing how the report moved in the past on a 1 second chart can help to set your sloploss very conservatively. I have set them as close as 2 ticks with a 5 tick break-even. CL is a good case in point as 9 times out of 10 it picks a direction and goes for it with zero whipsaw.

If you can... I would recommend to anyone to videotape their trades because you definitely see things a lot different after the fact then in the heat of the battle and can learn a lot from them... can also see how the platform reacted... where exactly the slippage happened, etc.

-You don't take trades out boredom... likely a challenge for most... a big challenge for me personally.

-As you mentioned... you don't spend countless hours in front the computer waiting for signals... depending on your trading style. Some traders enjoy it... I don't.
Some traders enjoy researching and analyzing so this method suits that strength.

-Can be a good risk reward ratio with the ability to place the protective stops close to price and can quickly be in a risk-free trade.

I live in Canada... in B.C. in particular which makes it pretty much impossible to open a futures account in the U.S. Can find 2 brokers in Canada that have NT as a platform and their minimum account size if 10k. Which I don't have on hand or I wouldn't be going this route.

This is getting long so will cut it off here but appreciate all the feedback. Hopefully Michael P will be by this week to reply.

Reply With Quote
 
(login for full post details)
  #508 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,566 received


tradertron View Post
Thanks for chiming in.

If you are talking about trading with a forex broker on MT4 then that would be a different ballgame than with NT.

So you don't know for sure how the slippage compares on NT then. I guess the question would be why would slippage be different on TST sim then any other broker's sim accounts?

NT support say themselves that sim isn't the same as real but they do use different metrics such as the amount of orders sitting at the bid and ask, the speed of the market, etc. in order to get it close. You said it is set by default AFAIR. Does that mean the broker can change it to be less slippage or more slippage?

I would think that TST would want to at least have it set at default or set for more slippage so as to better weed out the traders. But again... slippage is a two-way street.
Maybe Michael can comment on this too... is slippage set different on the TST sim101 account?

Who's to say what is a better way to trade... for someone else. I say follow your own heart because it's your journey. But you did hit on some key points to what I am finding out about this style of trading.

-And that is... as you mentioned... that you don't over trade... there may be 5-10 good trading opportunities a week. I guess you could put on a trade afterwards using some other method but if you weren't confident with the method... why would you?

-If you want you can come in only 15 minutes before the news release to set everything up with complete focus on what needs to be done... and then take the time to analyse the trade after it is over. At most this would take an hour.
I personally take screenshots of past and present reports on a 1 second chart and am now taking videos of the trades so they can be analyzed in slow-mo afterwards. And also have spreadsheet for the vitals.

Knowing how the report moved in the past on a 1 second chart can help to set your sloploss very conservatively. I have set them as close as 2 ticks with a 5 tick break-even. CL is a good case in point as 9 times out of 10 it picks a direction and goes for it with zero whipsaw.

If you can... I would recommend to anyone to videotape their trades because you definitely see things a lot different after the fact then in the heat of the battle and can learn a lot from them... can also see how the platform reacted... where exactly the slippage happened, etc.

-You don't take trades out boredom... likely a challenge for most... a big challenge for me personally.

-As you mentioned... you don't spend countless hours in front the computer waiting for signals... depending on your trading style. Some traders enjoy it... I don't.
Some traders enjoy researching and analyzing so this method suits that strength.

-Can be a good risk reward ratio with the ability to place the protective stops close to price and can quickly be in a risk-free trade.

I live in Canada... in B.C. in particular which makes it pretty much impossible to open a futures account in the U.S. Can find 2 brokers in Canada that have NT as a platform and their minimum account size if 10k. Which I don't have on hand or I wouldn't be going this route.

This is getting long so will cut it off here but appreciate all the feedback. Hopefully Michael P will be by this week to reply.

Well looks like you don't need any answers you know it all anyway. I could spend hours talking about liquidity and hft models during news releases but it would be futile. But I can tell you that technology development has nothing to do with decreased slippage, only sell side liquidity does which is easier to remove momentarily with the advancement in technology. Broker sims have nothing to do with Sim101 which is local in Ninja. Tst will not allow trading news (100%) even during LTP. Not sure where in Canada you live but assuming you have power and internet opening futures account in US is not more difficult than for me in Czech Republic or some people in Russia or whatever.
With this I would like to part and wish you success in your endeavors.

Trade to live. Not live to trade.
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #509 (permalink)
 tradertron 
Courtenay, Vancouver Island, Canada
 
Experience: Intermediate
Platform: NT
Trading: futures
 
Posts: 12 since Feb 2011
Thanks: 8 given, 0 received


xelaar View Post
Well looks like you don't need any answers you know it all anyway. I could spend hours talking about liquidity and hft models during news releases but it would be futile. But I can tell you that technology development has nothing to do with decreased slippage, only sell side liquidity does which is easier to remove momentarily with the advancement in technology. Broker sims have nothing to do with Sim101 which is local in Ninja. Tst will not allow trading news (100%) even during LTP. Not sure where in Canada you live but assuming you have power and internet opening futures account in US is not more difficult than for me in Czech Republic or some people in Russia or whatever.
With this I would like to part and wish you success in your endeavors.

No... don't know it all... far from it... just laying down an argument. Everyone has their opinions and theories and models and that's cool... but unless that person has actually put on news trades with NT in a real/live account over the past few months then sorry but I can't really go by that.

As mentioned before... I have seen proof of successful trades being taken on a real account and the account showing past trades with a nice overall growth... with this very same software/method. So that you can go by.

Apparently in B.C. the politicians have somehow made it so the U.S. brokers have to go through a bunch of red tape in order to allow the locals to trade. I have contacted more than a few of them and the answer is always the same... no B.C. residents.

RJ O'Brian Canada and IB Canada are the only 2 with NT that could be found.

Anyways thanks for the well wishes and will see how it plays out.

Reply With Quote
 
(login for full post details)
  #510 (permalink)
DrewDown
Kansas City, MO U.S.
 
 
Posts: 211 since Mar 2015
Thanks: 301 given, 122 received


tradertron View Post
Have seen screenshots of live accounts using this software and showing nice returns... and also some video's of live trades getting about the same fills as sim101. Slippage is an issue... but it goes both ways.

What little I could find on the subject said their fills on a live account weren't much different than sim.

Would be interested in hearing from anybody who has traded news releases on a live account compared to sim.

As mentioned earlier everything is evolving... software/hardware is getting more efficient... fills are happening faster... it's not the same as it was even a year ago.

If you have a position, and the bid or ask suddenly jumps four points against you on a news release - you're toast. It will just keep running.

Reply With Quote
 
(login for full post details)
  #511 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,566 received


tradertron View Post
No... don't know it all... far from it... just laying down an argument. Everyone has their opinions and theories and models and that's cool... but unless that person has actually put on news trades with NT in a real/live account over the past few months then sorry but I can't really go by that.

As mentioned before... I have seen proof of successful trades being taken on a real account and the account showing past trades with a nice overall growth... with this very same software/method. So that you can go by.

Apparently in B.C. the politicians have somehow made it so the U.S. brokers have to go through a bunch of red tape in order to allow the locals to trade. I have contacted more than a few of them and the answer is always the same... no B.C. residents.

RJ O'Brian Canada and IB Canada are the only 2 with NT that could be found.

Anyways thanks for the well wishes and will see how it plays out.


Look, don't take that personally. I did trade the news on Futures. My biggest trade would be on a sudden Aussie interest rate change back in what 2010-11? Can't remember. But CME killed this trade with circuit breaker as price movement was extremely fast, over 150 ticks in a second or so. So they did not get me fill even with market buy order, it was just cancelled. It happens. A lot.

My point is, that you CAN trade news in futures. But, it is not easy, nor any sim account is an indication of a real market. The only way for you to see it for yourself is to try it on a live account. TST won't allow that. I have been a live funded trader there. They are far more strict in reality than it may seem from their website. All go through LTP. Despite website saying it's discretionary. No product/trading time/news rules deviations will be tolerated. Despite website saying it's negotiable. I was trading with them a system based on liquidity traps - stop clusters liquidations. In a sense it was similar to news trading, as price made fast sudden moves there. So there was a concern if slippage would be so high it will render whole thing unprofitable. So I went ahead and opened a live account myself and tested it. It was possible to trade that way. But definitely it would be not possible to trade it with 3 tick stop losses like it was possible on Sim, Combine, LTP. Reason being, if trade works right away - it won't look back and 1 tick stop will work. BUT, if trade doesn't run, the pullback is so fast, CTS servers and CME cannot place a stop order in time to get me out. So all I get is an error message from CME saying I can't place a stop at price level beyond the current price. It's because a snap back was faster than technology. I happened in my live account with Multicharts, it happened with live CTS T4 account with TST too. So the whole strategy must be re-calculated with different stop management approach and larger changes to be made. Stops should be much larger, like 15 ticks, but you should tighten them very fast if trade does not work. With T4 it was far too difficult. With NT4 you can use macros and scripts.

But anyway, don't expect TST to budge. I have seen people passing to live with trading nat gas news. They could not repeat it live. Slippage was horrendous. You would be better off trading smaller releases for smaller moves, where liquidity does not dry up so much. Look at the order book. Monitor the tape. Jigsaw tools could be a fantastic help. Check with @DionysusToast .

Sorry for my abrupt response earlier. I was bit tired and consider you being arrogant. But I am happy to pass the knowledge to shorten the curve for any aspiring trader.

Trade to live. Not live to trade.
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to xelaar for this post:
 
(login for full post details)
  #512 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 270 since Feb 2013
Thanks: 71 given, 725 received


tradertron View Post
You know this from personal experience?

Tradertron- As a trader for 15 years, 8 of which have been on the trading floor and having the ability to notice and be around other traders during this entire time, most, if not all practice being flat prior to any major announcement (floor traders actually cross their arms against their chest to show they have no position on).

The thinking here is, as an active trader we have opportunity that we can see all day. With a good trading plan, discipline and experience behind us, we are able to capitalize on this opportunity. News releases are not considered good opportunities to trade and fall in the catagory of rolling the dice, as we do not know the information that will be released and we do not guess as professional traders.

Just wanted to share.

mp

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
Follow me on Twitter Reply With Quote
The following 3 users say Thank You to Topstep for this post:
 
(login for full post details)
  #513 (permalink)
 tradertron 
Courtenay, Vancouver Island, Canada
 
Experience: Intermediate
Platform: NT
Trading: futures
 
Posts: 12 since Feb 2011
Thanks: 8 given, 0 received


xelaar View Post
Look, don't take that personally. I did trade the news on Futures. My biggest trade would be on a sudden Aussie interest rate change back in what 2010-11? Can't remember. But CME killed this trade with circuit breaker as price movement was extremely fast, over 150 ticks in a second or so. So they did not get me fill even with market buy order, it was just cancelled. It happens. A lot.

My point is, that you CAN trade news in futures. But, it is not easy, nor any sim account is an indication of a real market. The only way for you to see it for yourself is to try it on a live account. TST won't allow that. I have been a live funded trader there. They are far more strict in reality than it may seem from their website. All go through LTP. Despite website saying it's discretionary. No product/trading time/news rules deviations will be tolerated. Despite website saying it's negotiable. I was trading with them a system based on liquidity traps - stop clusters liquidations. In a sense it was similar to news trading, as price made fast sudden moves there. So there was a concern if slippage would be so high it will render whole thing unprofitable. So I went ahead and opened a live account myself and tested it. It was possible to trade that way. But definitely it would be not possible to trade it with 3 tick stop losses like it was possible on Sim, Combine, LTP. Reason being, if trade works right away - it won't look back and 1 tick stop will work. BUT, if trade doesn't run, the pullback is so fast, CTS servers and CME cannot place a stop order in time to get me out. So all I get is an error message from CME saying I can't place a stop at price level beyond the current price. It's because a snap back was faster than technology. I happened in my live account with Multicharts, it happened with live CTS T4 account with TST too. So the whole strategy must be re-calculated with different stop management approach and larger changes to be made. Stops should be much larger, like 15 ticks, but you should tighten them very fast if trade does not work. With T4 it was far too difficult. With NT4 you can use macros and scripts.

But anyway, don't expect TST to budge. I have seen people passing to live with trading nat gas news. They could not repeat it live. Slippage was horrendous. You would be better off trading smaller releases for smaller moves, where liquidity does not dry up so much. Look at the order book. Monitor the tape. Jigsaw tools could be a fantastic help. Check with @DionysusToast .

Sorry for my abrupt response earlier. I was bit tired and consider you being arrogant. But I am happy to pass the knowledge to shorten the curve for any aspiring trader.

No problem... this information I can work with... thanks.

And was good to hear your personal experience being a funded trader... insightful.

Ya... NG is nuts... have played around with it in sim and it wouldn't even enter the trade... would get error signs it moved so fast.


Call me stubborn... but as its been seen to work on a live account... will find a way to give it a go.

Reply With Quote
 
(login for full post details)
  #514 (permalink)
 tradertron 
Courtenay, Vancouver Island, Canada
 
Experience: Intermediate
Platform: NT
Trading: futures
 
Posts: 12 since Feb 2011
Thanks: 8 given, 0 received


TopstepTrader View Post
Tradertron- As a trader for 15 years, 8 of which have been on the trading floor and having the ability to notice and be around other traders during this entire time, most, if not all practice being flat prior to any major announcement (floor traders actually cross their arms against their chest to show they have no position on).

The thinking here is, as an active trader we have opportunity that we can see all day. With a good trading plan, discipline and experience behind us, we are able to capitalize on this opportunity. News releases are not considered good opportunities to trade and fall in the catagory of rolling the dice, as we do not know the information that will be released and we do not guess as professional traders.

Just wanted to share.

mp

Thanks for the reply.

But... this wouldn't be making a guess or rolling the dice as you say... because you aren't picking one side or the other before the release... you are setting up to take whichever side it decides to move after the fact.

So just to confirm what xelaar said... there is absolutely no news trading allowed even if you do it successfully during a combine?

Reply With Quote
 
(login for full post details)
  #515 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 270 since Feb 2013
Thanks: 71 given, 725 received


tradertron View Post
Thanks for the reply.

But... this wouldn't be making a guess or rolling the dice as you say... because you aren't picking one side or the other before the release... you are setting up to take whichever side it decides to move after the fact.

So just to confirm what xelaar said... there is absolutely no news trading allowed even if you do it successfully during a combine?

tradertron- You are correct. When a Funded Trader starts with a Funded Account they can NOT trade news releases. We have Funded Traders that have positions on during news release and trade them from time to time, but they are established Funded Traders that have built their account and are past 10 trading days. So it is acceptable, just not when a traders starts.

Michael

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
Follow me on Twitter Reply With Quote
The following 3 users say Thank You to Topstep for this post:
 
(login for full post details)
  #516 (permalink)
 tradertron 
Courtenay, Vancouver Island, Canada
 
Experience: Intermediate
Platform: NT
Trading: futures
 
Posts: 12 since Feb 2011
Thanks: 8 given, 0 received


TopstepTrader View Post
tradertron- You are correct. When a Funded Trader starts with a Funded Account they can NOT trade news releases. We have Funded Traders that have positions on during news release and trade them from time to time, but they are established Funded Traders that have built their account and are past 10 trading days. So it is acceptable, just not when a traders starts.

Michael

Ok thanks.

So... another question arises.

Say someone passed this combine using the news trading method. Could it still be used as a springboard to get into the LTP stage and then from there use a different method/system to get through the LTP and build up a cushion in a funded account?

Just asking because I am almost there in the present combine using this method.

Reply With Quote
 
(login for full post details)
  #517 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 270 since Feb 2013
Thanks: 71 given, 725 received


tradertron View Post
Ok thanks.

So... another question arises.

Say someone passed this combine using the news trading method. Could it still be used as a springboard to get into the LTP stage and then from there use a different method/system to get through the LTP and build up a cushion in a funded account?

Just asking because I am almost there in the present combine using this method.

tradertron- Yes. We have had Funded Traders adjust their strategy in FTP as they were using a news release type strategy while in the Combine.

Any Combine trader that has met the Combine objective, but has shown to trade during a news release most likely will move to FTP. In FTP you are not permitted to trade during economic releases. The thought here is to see if the trader has a strategy that is not only news release driven (ie. one trick pony). We want to see that these traders can do more than just play the releases as that is not permitted on the Funded Account until the trader has traded more than 10 days and built up the balance of the account. Our goal is to ensure that new Funded Traders are in the best position for success.

I hope that helps.

Michael

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
Follow me on Twitter Reply With Quote
The following 5 users say Thank You to Topstep for this post:
 
(login for full post details)
  #518 (permalink)
 tradertron 
Courtenay, Vancouver Island, Canada
 
Experience: Intermediate
Platform: NT
Trading: futures
 
Posts: 12 since Feb 2011
Thanks: 8 given, 0 received


TopstepTrader View Post
tradertron- Yes. We have had Funded Traders adjust their strategy in FTP as they were using a news release type strategy while in the Combine.

Any Combine trader that has met the Combine objective, but has shown to trade during a news release most likely will move to FTP. In FTP you are not permitted to trade during economic releases. The thought here is to see if the trader has a strategy that is not only news release driven (ie. one trick pony). We want to see that these traders can do more than just play the releases as that is not permitted on the Funded Account until the trader has traded more than 10 days and built up the balance of the account. Our goal is to ensure that new Funded Traders are in the best position for success.

I hope that helps.

Michael

Yes... that helps lots... thanks.

Did a search and couldn't find this mentioned on the TST site... but does the trader still pay a monthly fee during the FTP stage?

Reply With Quote
 
(login for full post details)
  #519 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 270 since Feb 2013
Thanks: 71 given, 725 received


tradertron View Post
Yes... that helps lots... thanks.

Did a search and couldn't find this mentioned on the TST site... but does the trader still pay a monthly fee during the FTP stage?

traderton- No the trader does not pay anything if requested to complete FTP. I will let the team know to update this in the help section.

Michael

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
Follow me on Twitter Reply With Quote
The following user says Thank You to Topstep for this post:
 
(login for full post details)
  #520 (permalink)
 mdsvtr 
Memphis,TN
 
 
Posts: 232 since Sep 2010

Good evening,

I was wondering please, that if I was to become a Funded Trader by passing one of the Combines,
would I be able to use Kinetick as my data provider , in conjunction with NinjaTrader , and use Kinetick's CME waiver program?

Here is the Link to the waiver for all of the different fees........

Kinetick - Streaming real time quotes and hstorical market data CME Data Fee Waiver program



I am just wondering, because I like to trade various products across the Future markets,
such as....

Gold, Oil, ES and YM, Coffee and Corn



And by having to pay for each market individually ( since they all don't trade on the same exchange ), that can easily add up to over $360 in fees alone



Just wanted to see if this was something I could use , in the event that I became funded



Thanks for your time and help, I really appreciate it

Reply With Quote
 
(login for full post details)
  #521 (permalink)
 matthew28 
Legendary Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Trading: US Equity Index Futures
 
matthew28's Avatar
 
Posts: 977 since Sep 2013
Thanks: 2,451 given, 1,761 received

Good question mdsvtr. This was something I had wondered about.
If one trades live with Topstep then they are classified as a professional trader because they are trading somebody else's money. After looking at the CME data waiver details though I could only find reference to non-professional traders.So I have come to the conclusion that professionals aren't entitled to the waiver. I will be interested though to hear the definitive answer off Michael.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to matthew28 for this post:
 
(login for full post details)
  #522 (permalink)
 t0030tr 
Detroit, Michigan, USA
 
Experience: Intermediate
Platform: NT8 w/TTP & Jigsaw
Broker: Kinetick/CQG
Trading: CL and ES (sometimes)
 
t0030tr's Avatar
 
Posts: 67 since Jun 2013
Thanks: 27 given, 66 received


xelaar View Post
Look, don't take that personally. I did trade the news on Futures. My biggest trade would be on a sudden Aussie interest rate change back in what 2010-11? Can't remember. But CME killed this trade with circuit breaker as price movement was extremely fast, over 150 ticks in a second or so. So they did not get me fill even with market buy order, it was just cancelled. It happens. A lot.

My point is, that you CAN trade news in futures. But, it is not easy, nor any sim account is an indication of a real market. The only way for you to see it for yourself is to try it on a live account. TST won't allow that. I have been a live funded trader there. They are far more strict in reality than it may seem from their website. All go through LTP. Despite website saying it's discretionary. No product/trading time/news rules deviations will be tolerated. Despite website saying it's negotiable. I was trading with them a system based on liquidity traps - stop clusters liquidations. In a sense it was similar to news trading, as price made fast sudden moves there. So there was a concern if slippage would be so high it will render whole thing unprofitable. So I went ahead and opened a live account myself and tested it. It was possible to trade that way. But definitely it would be not possible to trade it with 3 tick stop losses like it was possible on Sim, Combine, LTP. Reason being, if trade works right away - it won't look back and 1 tick stop will work. BUT, if trade doesn't run, the pullback is so fast, CTS servers and CME cannot place a stop order in time to get me out. So all I get is an error message from CME saying I can't place a stop at price level beyond the current price. It's because a snap back was faster than technology. I happened in my live account with Multicharts, it happened with live CTS T4 account with TST too. So the whole strategy must be re-calculated with different stop management approach and larger changes to be made. Stops should be much larger, like 15 ticks, but you should tighten them very fast if trade does not work. With T4 it was far too difficult. With NT4 you can use macros and scripts.

But anyway, don't expect TST to budge. I have seen people passing to live with trading nat gas news. They could not repeat it live. Slippage was horrendous. You would be better off trading smaller releases for smaller moves, where liquidity does not dry up so much. Look at the order book. Monitor the tape. Jigsaw tools could be a fantastic help. Check with @DionysusToast .

Sorry for my abrupt response earlier. I was bit tired and consider you being arrogant. But I am happy to pass the knowledge to shorten the curve for any aspiring trader.

Umm yeah, very strict as I am going through FTP currently. You are not understating here xelaar. Trading the news is way outside TST's parameters and I would not look for that to change in the near future tradertron. To risky, just ask all the brokers trying to collect margin on the Swiss franc.

Reply With Quote
 
(login for full post details)
  #523 (permalink)
 t0030tr 
Detroit, Michigan, USA
 
Experience: Intermediate
Platform: NT8 w/TTP & Jigsaw
Broker: Kinetick/CQG
Trading: CL and ES (sometimes)
 
t0030tr's Avatar
 
Posts: 67 since Jun 2013
Thanks: 27 given, 66 received


matthew28 View Post
Good question mdsvtr. This was something I had wondered about.
If one trades live with Topstep then they are classified as a professional trader because they are trading somebody else's money. After looking at the CME data waiver details though I could only find reference to non-professional traders.So I have come to the conclusion that professionals aren't entitled to the waiver. I will be interested though to hear the definitive answer off Michael.

This is a great question and I was wondering this as well as I previously purchased a year of data from DTN before attempting the combine?

So if we are funded can we use our choice of data providers and Rithmic as the broker or are we bound to Rithmic completely?

Reply With Quote
The following user says Thank You to t0030tr for this post:
 
(login for full post details)
  #524 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 270 since Feb 2013
Thanks: 71 given, 725 received


t0030tr View Post
This is a great question and I was wondering this as well as I previously purchased a year of data from DTN before attempting the combine?

So if we are funded can we use our choice of data providers and Rithmic as the broker or are we bound to Rithmic completely?

t0030tr- Fund Traders are considered professional traders and therefore fall under the CME Group professional trader rates. Here is our help section for this: Funded Trader Exchange data fees ? Help & Feedback Center

Hope that helps.

Michael

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
Follow me on Twitter Reply With Quote
The following 2 users say Thank You to Topstep for this post:
 
(login for full post details)
  #525 (permalink)
 t0030tr 
Detroit, Michigan, USA
 
Experience: Intermediate
Platform: NT8 w/TTP & Jigsaw
Broker: Kinetick/CQG
Trading: CL and ES (sometimes)
 
t0030tr's Avatar
 
Posts: 67 since Jun 2013
Thanks: 27 given, 66 received

Question for Michael or John, so did some searching and I can only guess, but what happens if a trader hits a daily limit in FTP? It looks like you go back to the combine, but there is nothing that is clear in the help files on TST.

Thanks


Reply With Quote
 
(login for full post details)
  #526 (permalink)
 t0030tr 
Detroit, Michigan, USA
 
Experience: Intermediate
Platform: NT8 w/TTP & Jigsaw
Broker: Kinetick/CQG
Trading: CL and ES (sometimes)
 
t0030tr's Avatar
 
Posts: 67 since Jun 2013
Thanks: 27 given, 66 received

I have noted that there are badges that distinguish people who have earned a combine rollover and funded/self funded TST traders. It seems odd to me that there would not be a badge for recruits that complete the combine. I mean isn't that what everyone is trying to do?

Thanks

Reply With Quote
 
(login for full post details)
  #527 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 270 since Feb 2013
Thanks: 71 given, 725 received


t0030tr View Post
Question for Michael or John, so did some searching and I can only guess, but what happens if a trader hits a daily limit in FTP? It looks like you go back to the combine, but there is nothing that is clear in the help files on TST.

Thanks


t0030tr- Here is the link for the Funded Trader Preparation rules Funded Trader Preparation Rules ? Help & Feedback Center

As stated, if any, of the rules are violated, you will be returned to the Combine.

Hope that helps. If there is any other information missing or if we are not clear with anything please let me know and I will have the back office fix it.

Best,

Michael

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #528 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 270 since Feb 2013
Thanks: 71 given, 725 received


t0030tr View Post
I have noted that there are badges that distinguish people who have earned a combine rollover and funded/self funded TST traders. It seems odd to me that there would not be a badge for recruits that complete the combine. I mean isn't that what everyone is trying to do?

Thanks

t0030tr- We have a green "L" for every Funded Trader. If you go into the Squawk radio room you will see a lot of green "L's."

Michael

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #529 (permalink)
 fxfib 
corpus christik,tx
 
Experience: Intermediate
Platform: TradeStation
Broker: TradeStation
Trading: CL
 
Posts: 4 since Nov 2009
Thanks: 0 given, 1 received

Any idea if Forex will be available to trade at any time in the future?

Reply With Quote
 
(login for full post details)
  #530 (permalink)
 t0030tr 
Detroit, Michigan, USA
 
Experience: Intermediate
Platform: NT8 w/TTP & Jigsaw
Broker: Kinetick/CQG
Trading: CL and ES (sometimes)
 
t0030tr's Avatar
 
Posts: 67 since Jun 2013
Thanks: 27 given, 66 received


TopstepTrader View Post
t0030tr- Fund Traders are considered professional traders and therefore fall under the CME Group professional trader rates. Here is our help section for this: Funded Trader Exchange data fees ? Help & Feedback Center

Hope that helps.

Michael

To add to this question, once you become a funded trader are you still allowed to distinguish yourself as a non-professional with your personal accounts (legally I mean)?

Apologies if this is outside the scope of the thread.

Thanks

Reply With Quote
 
(login for full post details)
  #531 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 270 since Feb 2013
Thanks: 71 given, 725 received


t0030tr View Post
To add to this question, once you become a funded trader are you still allowed to distinguish yourself as a non-professional with your personal accounts (legally I mean)?

Apologies if this is outside the scope of the thread.

Thanks

t0030tr- I do not recall any of our Funded Traders who have a personal account having to change their status with their broker.

I hope that helps answer the question for you.

Michael

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
Follow me on Twitter Reply With Quote
The following 2 users say Thank You to Topstep for this post:
 
(login for full post details)
  #532 (permalink)
 lovetotrade 
Rockledge, FL
 
Experience: Advanced
Platform: Sierra Chart
Broker: Gain Capital, OANDA
Trading: GBP
 
lovetotrade's Avatar
 
Posts: 416 since Oct 2014
Thanks: 1,058 given, 807 received

This may have been covered already, but after a quick skim of the thread I didn't see the question asked. So my apologies if the question is redundant.

Why does the max draw down decrease, and profit target increase beyond the 30k combine?
For example:
30k combine- $1500MDD/$1500PT 5% of account/5% of account
50k combine- $2000/$3000 4%/6%
100k combine- $3000/$6000 3%/6%
150k combine- $4500/$9000 3%/6%

I am having trouble wrapping my mind around it at first glance, hoping someone can provide some insight. It seems to me you would automatically be drawn towards the 30k as it is more forgiving.

And I do have one more question. If you choose to go with the 30k combine for example, and let's say you were moved to funded trader status, is there a way to graduate to a higher level of funding beyond building up the account? I can't imagine you are stuck at a certain level of funding, but maybe it's just as simple as trying out for a larger combine.

Anyways, thanks to all or any who take the time to respond.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to lovetotrade for this post:
 
(login for full post details)
  #533 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


lovetotrade View Post
This may have been covered already, but after a quick skim of the thread I didn't see the question asked. So my apologies if the question is redundant.

Why does the max draw down decrease, and profit target increase beyond the 30k combine?
For example:
30k combine- $1500MDD/$1500PT 5% of account/5% of account
50k combine- $2000/$3000 4%/6%
100k combine- $3000/$6000 3%/6%
150k combine- $4500/$9000 3%/6%

I am having trouble wrapping my mind around it at first glance, hoping someone can provide some insight. It seems to me you would automatically be drawn towards the 30k as it is more forgiving.

And I do have one more question. If you choose to go with the 30k combine for example, and let's say you were moved to funded trader status, is there a way to graduate to a higher level of funding beyond building up the account? I can't imagine you are stuck at a certain level of funding, but maybe it's just as simple as trying out for a larger combine.

Anyways, thanks to all or any who take the time to respond.


Lovetotrade-

Thanks for the questions.

Each progressively larger Combine's max loss was designed to encourage adding to the account slowly at first, and leverage as the account grows, hence the slightly tighter max drawdown. As for the profit targets, the larger accounts have considerable higher leverage. Higher leverage, higher profit target.

If you have succeeded in being funded after the 30k Combine, the way to graduate to a higher level of leverage and risk is to become a true partner in the account by trading well, managing the account, and building equity. If you are trading well, the sky's the limit.

The Funding Team will have helpful suggestions along the way about leveraging, or pulling back, account building and getting PAID!


We welcome questions and suggestions so let us know if you have any more concerns and trade well lovetotrade.

Regards,

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
The following 5 users say Thank You to Hoag for this post:
 
(login for full post details)
  #534 (permalink)
 dstrunin 
New York City + New York/USA
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES
 
Posts: 19 since May 2014
Thanks: 12 given, 11 received

Michael, thanks for answering all of these questions and providing some great insight into the business. I recall you saying you lost 94k before becoming profitable. How long did it take you to become a profitable trader?

Follow me on Twitter Reply With Quote
 
(login for full post details)
  #535 (permalink)
 lovetotrade 
Rockledge, FL
 
Experience: Advanced
Platform: Sierra Chart
Broker: Gain Capital, OANDA
Trading: GBP
 
lovetotrade's Avatar
 
Posts: 416 since Oct 2014
Thanks: 1,058 given, 807 received


Hoag View Post
Lovetotrade-

Thanks for the questions.

Each progressively larger Combine's max loss was designed to encourage adding to the account slowly at first, and leverage as the account grows, hence the slightly tighter max drawdown. As for the profit targets, the larger accounts have considerable higher leverage. Higher leverage, higher profit target.

If you have succeeded in being funded after the 30k Combine, the way to graduate to a higher level of leverage and risk is to become a true partner in the account by trading well, managing the account, and building equity. If you are trading well, the sky's the limit.

The Funding Team will have helpful suggestions along the way about leveraging, or pulling back, account building and getting PAID!


We welcome questions and suggestions so let us know if you have any more concerns and trade well lovetotrade.

Regards,

Hoag

Well, as we all know, leverage truly is a double edge sword. But I do think I am grasping how you explained it. It seems as though it is designed so that anyone trying out for one of your larger accounts is/should be experienced and proficient in using leverage. As the large max leverage vs. the tight MDD would weed out most using it the wrong way, and fairly quickly I might add. So since your MDD trailing stop ends at the break-even mark once you have achieved 3% profit, then your MDD essentially grows from that point through the last 3% allowing you to stretch your legs a bit. Is this correct ideology behind your explanation?

And another two questions:
Due to cycles of volatility and randomness in the market, do you find that those that passed the combine were aided by their timing in which they took the combine? I understand you may or may not be able to answer this one off hand.

For your funded traders, is there an average as to how many times it took for them to pass the combine? Is it typical to go through the combine a couple of times before passing or not necessarily? I understand that each case is different, but I also know that you have a 1000ft view as well. Just trying to gain a little perspective as to what to expect if I decided to try out.

Thanks again for taking the time to respond.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to lovetotrade for this post:
 
(login for full post details)
  #536 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 270 since Feb 2013
Thanks: 71 given, 725 received


dstrunin View Post
Michael, thanks for answering all of these questions and providing some great insight into the business. I recall you saying you lost 94k before becoming profitable. How long did it take you to become a profitable trader?

dstrunin- I was a pretty stubborn trader when I first started and consistently was looking for shortcuts rather than taking the time to figure out my weaknesses and bad habits. So that was about a year. Then I got with an NLP coach shifted my focus off of technicals and what I thought the market had to do and started focusing on my psyche, gaining an understanding of that, then used a journal to find my bad habits and work each of those out one by one. That part of my journey was about 8 months. So all in all about a year and 8 months (give or take 3 months or so). But to each their own. This is my journey. Some people can do it in a much shorter time, some never get there. Focus on your path and what you need to improve on. Remember that the market doesn't have to do anything and it is never someone else's fault. You have all the control and power to either get better or not.

Hope that helps. Thanks for the questions.

Michael

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
Follow me on Twitter Reply With Quote
The following 3 users say Thank You to Topstep for this post:
 
(login for full post details)
  #537 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


lovetotrade View Post
Well, as we all know, leverage truly is a double edge sword. But I do think I am grasping how you explained it. It seems as though it is designed so that anyone trying out for one of your larger accounts is/should be experienced and proficient in using leverage. As the large max leverage vs. the tight MDD would weed out most using it the wrong way, and fairly quickly I might add. So since your MDD trailing stop ends at the break-even mark once you have achieved 3% profit, then your MDD essentially grows from that point through the last 3% allowing you to stretch your legs a bit. Is this correct ideology behind your explanation?

And another two questions:
Due to cycles of volatility and randomness in the market, do you find that those that passed the combine were aided by their timing in which they took the combine? I understand you may or may not be able to answer this one off hand.

For your funded traders, is there an average as to how many times it took for them to pass the combine? Is it typical to go through the combine a couple of times before passing or not necessarily? I understand that each case is different, but I also know that you have a 1000ft view as well. Just trying to gain a little perspective as to what to expect if I decided to try out.

Thanks again for taking the time to respond.

Lovetotrade,

Yes, you are correct in your understanding of the MDD. The MDD never goes beyond the initial balance of the account.

With regard to your second question, yes, we are looking at traders with a small amount of data and traders all have a market states they like to trade. I am sure many of them are successful due to specific market state and suffer after the market state changes but that is why we are here. Learning to intuitively assume a market state and to trade a strategy designed to fit that market state is something we encourage and attempt to help with.

As far as how many times traders enter the Combine before succeeding, many have been funded after one Combine, and others it takes others longer. It truly is each traders personal journey. What I can tell you is that we see better traders more consistently succeeding in funded accounts from the 30k Combine more often than any of the other Combines.

Love the name Lovetotrade!

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
The following 5 users say Thank You to Hoag for this post:
 
(login for full post details)
  #538 (permalink)
 lovetotrade 
Rockledge, FL
 
Experience: Advanced
Platform: Sierra Chart
Broker: Gain Capital, OANDA
Trading: GBP
 
lovetotrade's Avatar
 
Posts: 416 since Oct 2014
Thanks: 1,058 given, 807 received


Hoag View Post
Lovetotrade,

Yes, you are correct in your understanding of the MDD. The MDD never goes beyond the initial balance of the account.

With regard to your second question, yes, we are looking at traders with a small amount of data and traders all have a market states they like to trade. I am sure many of them are successful due to specific market state and suffer after the market state changes but that is why we are here. Learning to intuitively assume a market state and to trade a strategy designed to fit that market state is something we encourage and attempt to help with.

As far as how many times traders enter the Combine before succeeding, many have been funded after one Combine, and others it takes others longer. It truly is each traders personal journey. What I can tell you is that we see better traders more consistently succeeding in funded accounts from the 30k Combine more often than any of the other Combines.

Love the name Lovetotrade!

Hoag

Very good insight, thanks for the reply and the kind words.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to lovetotrade for this post:
 
(login for full post details)
  #539 (permalink)
 mdsvtr 
Memphis,TN
 
 
Posts: 232 since Sep 2010

Hi Michael,
I had a few questions please concerning both the combine, as well as being a funded trader

1. During the continuous combine ...... how many markets can you trade " At the same time " ?
Could I trade all of the following markets for example.... ES, YM, CL, ZC, SI ?


If you are a funded trader, can you.....

1. hold positions overnight ?

2. Get a waiver on all of the exchange fees .... NYMEX, CBOT, COMEX ?

3. What's the earliest you can enter a position and does it depend on the future you're trading ?
For instance, can you enter a new position on say the ES at 4:00 p.m. cst. ( which would be the 30 min. time span, from 3:30 p.m. cst. market close )

4. will all trades automatically be closed out come the close of each trading day
Just want to make sure that if something comes up, but I/m in a trade, that all of my positions will automatically go flat

5. I'm not sure if there's a difference between the combine and being funded, but . ..... when funded, can we hold positions overnight ( swing trade and stay in a trade for up to a week or so at a time ) as long as we never reach are max daily loss ?

Thanks so much, I really appreciate it

Reply With Quote
 
(login for full post details)
  #540 (permalink)
DrewDown
Kansas City, MO U.S.
 
 
Posts: 211 since Mar 2015
Thanks: 301 given, 122 received

What is the exchange fee that one has to pay in the funding process? It's mentioned on the TST website, but they don't say how much it is.

Reply With Quote
 
(login for full post details)
  #541 (permalink)
 matthew28 
Legendary Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Trading: US Equity Index Futures
 
matthew28's Avatar
 
Posts: 977 since Sep 2013
Thanks: 2,451 given, 1,761 received

DrewDown.
The bottom half of the page covers exchange fees. The exchanges classify people as professional or non-professional. If trading live with Topstep you pay the professional exchange fee of $85 per exchange. I understand that this is because you are trading other peoples money (The TST equity partners account, rather than your own account), which is one of the CME classifications for a professional trader.
https://topsteptrader.desk.com/customer/portal/articles/1971631-funded-account-fees

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to matthew28 for this post:
 
(login for full post details)
  #542 (permalink)
 pipandrun 
Krabi Thailand
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NT, CQG
Trading: MES
 
Posts: 707 since Jul 2013
Thanks: 2,119 given, 1,205 received


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

mp

@TopstepTrader

Do you have meanwhile some updates concerning trading the FDAX at TST?

Waiting, Discipline and Patience Pays!
Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to pipandrun for this post:
 
(login for full post details)
  #543 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 270 since Feb 2013
Thanks: 71 given, 725 received


pipandrun View Post
@TopstepTrader

Do you have meanwhile some updates concerning trading the FDAX at TST?

pipandrun- We offer ICE and Eurex products to trade for Funded Traders after their 10th trading day. Currently, we do not offer this in the Trading Combine, but will update when they become Combine available.

Thanks,

Michael

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
Follow me on Twitter Reply With Quote
The following 3 users say Thank You to Topstep for this post:
 
(login for full post details)
  #544 (permalink)
 pipandrun 
Krabi Thailand
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NT, CQG
Trading: MES
 
Posts: 707 since Jul 2013
Thanks: 2,119 given, 1,205 received


TopstepTrader View Post
pipandrun- We offer ICE and Eurex products to trade for Funded Traders after their 10th trading day. Currently, we do not offer this in the Trading Combine, but will update when they become Combine available.

Thanks,

Michael

@topstep Trader

Thanks. Is this a bigger problem to offer the FDAX in the combine, when you already have it later in the funded time? For CET traders mainly currencies are left to trade "in the morning".

Waiting, Discipline and Patience Pays!
Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #545 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


mdsvtr View Post
Hi Michael,
I had a few questions please concerning both the combine, as well as being a funded trader

1. During the continuous combine ...... how many markets can you trade " At the same time " ?
Could I trade all of the following markets for example.... ES, YM, CL, ZC, SI ?


If you are a funded trader, can you.....

1. hold positions overnight ?

2. Get a waiver on all of the exchange fees .... NYMEX, CBOT, COMEX ?

3. What's the earliest you can enter a position and does it depend on the future you're trading ?
For instance, can you enter a new position on say the ES at 4:00 p.m. cst. ( which would be the 30 min. time span, from 3:30 p.m. cst. market close )

4. will all trades automatically be closed out come the close of each trading day
Just want to make sure that if something comes up, but I/m in a trade, that all of my positions will automatically go flat

5. I'm not sure if there's a difference between the combine and being funded, but . ..... when funded, can we hold positions overnight ( swing trade and stay in a trade for up to a week or so at a time ) as long as we never reach are max daily loss ?

Thanks so much, I really appreciate it

mdsvtr,

Thanks for the questions!

First- At this time, all trades must be flat when the market is closed. We require all Combine and Funded traders to close positions at 3:10 pm CT.

Second- No waivers on exchange fees. The exchanges get theirs.

Third- Depending on the Contract, 5:00 pm CT is the open of the next trading day and the earliest you can open a trade. There are limits on some of the contracts, you can find the answers here. https://futures.io/topsteptrader.desk.com/customer/portal/articles/1968878-important-combine-info#Permissible Products/Times to Trade

Fourth-No. All trades will not be automatically flattened. It is up to the traders to ensure they are flat in the Combine and the funded account.

Fifth- At this time, all funded trades must be flattened by 3:10 pm CT

I hope this helps, let us know if you have any other questions.

Regards,

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
The following 3 users say Thank You to Hoag for this post:
 
(login for full post details)
  #546 (permalink)
 mdsvtr 
Memphis,TN
 
 
Posts: 232 since Sep 2010

Hi Hoag ,
Thanks for your reply to my most recent post

I did have a few more questions that I'd like to ask you please.......


1. How many different Products can I trade at the same time during both the Combine and as a Funded Trader ?

Could I trade CL, ES, SI and ZS all at the same time Or would I have to have a Combine designated solely to each product to trade ( so 4 separate combines ) ?

I ask, because I sometimes get entry signals on 3 - 4 products on the same day, and would like to be able to enter these trades all at once if the signals for entry are there

2. I know that if Funded, the Trader is liable for paying the exchange fees,
an with trading CL on NYMEX, GC on COMEX and say ZB on CBOT , that each exchange costs $85 per month.

This can add up to quite an expense per month if trading 4 different products on 4 different exchanges.
Trying to decide on which products to narrow down my trading to

3. Is there a way ( through Ninja Trader ) to close out of my positions via my smartphone ?
Sometimes I'm not at home in front of my computer at 3:10 p.m. cst. to close out of my trades, and have to do so from my smartphone.
Just wondering if there's a way to do so through TopStep/NinjaTrader ?

4. If during the combine you opt to only trade YM and pass that combine and then get funded ..... can you only trade the YM once you become funded , or will you be allowed to add 2 to 3 more products to your trading list ( ZC, GC and NG ) for example ?

5. Once Funded ..... how many trades do you have to make on a per month basis ?
Or does it just come down to not exceeding your Max daily Loss / Overall max drawdown ?
And you just needing to keeping showing a profit of X amount per month ?

5. And lastly, I know that you can use a demo account with NinjaTrader during the combine that doesn't costs anything ,
but how about when you are funded.... who pays for that and how much would that costs on a per month bases ?


Hoag and Michael,
I really appreciate the two of you starting this thread and for helping and answering the questions from all aspiring TopStepTraders such as myself

Thanks again - Michael

Reply With Quote
 
(login for full post details)
  #547 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


mdsvtr View Post
Hi Hoag ,
Thanks for your reply to my most recent post

I did have a few more questions that I'd like to ask you please.......


1. How many different Products can I trade at the same time during both the Combine and as a Funded Trader ?

Could I trade CL, ES, SI and ZS all at the same time Or would I have to have a Combine designated solely to each product to trade ( so 4 separate combines ) ?

I ask, because I sometimes get entry signals on 3 - 4 products on the same day, and would like to be able to enter these trades all at once if the signals for entry are there

2. I know that if Funded, the Trader is liable for paying the exchange fees,
an with trading CL on NYMEX, GC on COMEX and say ZB on CBOT , that each exchange costs $85 per month.

This can add up to quite an expense per month if trading 4 different products on 4 different exchanges.
Trying to decide on which products to narrow down my trading to

3. Is there a way ( through Ninja Trader ) to close out of my positions via my smartphone ?
Sometimes I'm not at home in front of my computer at 3:10 p.m. cst. to close out of my trades, and have to do so from my smartphone.
Just wondering if there's a way to do so through TopStep/NinjaTrader ?

4. If during the combine you opt to only trade YM and pass that combine and then get funded ..... can you only trade the YM once you become funded , or will you be allowed to add 2 to 3 more products to your trading list ( ZC, GC and NG ) for example ?

5. Once Funded ..... how many trades do you have to make on a per month basis ?
Or does it just come down to not exceeding your Max daily Loss / Overall max drawdown ?
And you just needing to keeping showing a profit of X amount per month ?

5. And lastly, I know that you can use a demo account with NinjaTrader during the combine that doesn't costs anything ,
but how about when you are funded.... who pays for that and how much would that costs on a per month bases ?


Hoag and Michael,
I really appreciate the two of you starting this thread and for helping and answering the questions from all aspiring TopStepTraders such as myself

Thanks again - Michael

Michael,

Feel free to give us a call with any questions too.

First, You can trade as many allowed products as you want. The rules state that in order to succeed in meeting the rules, each product you trade must have a trading average greater than $0, so choose your products wisely.

Second, yes, the exchange data fees are something to consider and can add up to being a little pricey, again, choose your products carefully.

Third, our funded traders are required to trade from only their desktop and must be present when there are live trades on.

Fourth, Once you are funded with one product you may add other products after your tenth day of trading in your funded account.

Fifth, Once funded there are no profit targets and we only require 10 trading days traded every 60 calendar days

Sixth, Platform costs are always the responsibility of the trader. NinjaTrader has special discounts for TopstepTrader funded traders. NinjaTrader Charting Software & Trading Platform: Purchase Options T4 platform fees are part of the commission structure, but an of the other platform fees are yours.

Thanks again for the questions and trade well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
The following 2 users say Thank You to Hoag for this post:
 
(login for full post details)
  #548 (permalink)
 pipandrun 
Krabi Thailand
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NT, CQG
Trading: MES
 
Posts: 707 since Jul 2013
Thanks: 2,119 given, 1,205 received


pipandrun View Post
@topstep Trader

Thanks. Is this a bigger problem to offer the FDAX in the combine, when you already have it later in the funded time? For CET traders mainly currencies are left to trade "in the morning".

@TopstepTrader

I just want to remind to the above question.

If I were an investor, where can i invest in your concept? Where do I even know that there is the possibility to invest in retail traders work? I can only find advertisement for traders to be funded, but not for the chance to invest. Thanks.

Waiting, Discipline and Patience Pays!
Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #549 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


pipandrun View Post
@TopstepTrader

I just want to remind to the above question.

If I were an investor, where can i invest in your concept? Where do I even know that there is the possibility to invest in retail traders work? I can only find advertisement for traders to be funded, but not for the chance to invest. Thanks.

pipandrun,

Thanks for your interest. Unfortunately at this time, we're not currently accepting any new investors. We have had interest in the past, so we do keep a notification list for if/when we do open up for new investment. If you would like to be included on this list, please email support@topsteptrader.com requesting so. Again, thank you for your interest.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
The following user says Thank You to Hoag for this post:
 
(login for full post details)
  #550 (permalink)
 quirtevans 
Tulsa,OK
 
Experience: Beginner
Platform: TOS
Broker: TOS
Trading: YM
 
quirtevans's Avatar
 
Posts: 10 since Sep 2009
Thanks: 71 given, 9 received

TopStepTrader So if I got funded would I have to buy a Ninjatrader license for about a thousand dollars? If I wanted to use R/Trader how much would that be per month? Would I have to pay to use R/Trader for the combine and how much?

Reply With Quote
 
(login for full post details)
  #551 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 270 since Feb 2013
Thanks: 71 given, 725 received


quirtevans View Post
TopStepTrader So if I got funded would I have to buy a Ninjatrader license for about a thousand dollars? If I wanted to use R/Trader how much would that be per month? Would I have to pay to use R/Trader for the combine and how much?

Quirtevans- To use the NinjaTrader platform in the funded account, you would have to purchase/lease your own license. If you chose the Lifetime license, you're eligible for a discount of $300 off the multi-broker and $100 off the single-broker due to our partnership with NT. NT also has much lower cost leasing options, other pricing can be found here: NinjaTrader Charting Software & Trading Platform: Purchase Options. The Rithmic Trader platform is free to use in both the Combine and funded accounts, but does not include charts. R|Trader Pro is free for the Combine account and costs $25 per month for the funded account and does include charts.

I hope that helps.

Michael

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
Follow me on Twitter Reply With Quote
The following 2 users say Thank You to Topstep for this post:
 
(login for full post details)
  #552 (permalink)
 quirtevans 
Tulsa,OK
 
Experience: Beginner
Platform: TOS
Broker: TOS
Trading: YM
 
quirtevans's Avatar
 
Posts: 10 since Sep 2009
Thanks: 71 given, 9 received

Is it possible to get a 14 day trial of R/Trader ?

Reply With Quote
 
(login for full post details)
  #553 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


quirtevans View Post
Is it possible to get a 14 day trial of R/Trader ?

quirtevans,

Yes, you can use R|Trader Pro for the 14 day trial, the Combine or a funded account. Here is a link to connection instructions. https://futures.io/topsteptrader.desk.com/customer/portal/articles/1976026-r%7Ctrader-pro Thanks for the question, let us know if you have any more.

Regards,

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #554 (permalink)
 Tymbeline 
Leeds UK
 
Experience: Intermediate
Platform: TradingView
Broker: LCG, Oanda
Trading: ES, 6E, Cable
 
Tymbeline's Avatar
 
Posts: 474 since Apr 2015
Thanks: 1,254 given, 656 received

Does anyone from TopstepTrader have any news - or even an estimate - of when forex Combines will be available, please?

I appreciate that there are some related Globex futures products available, but there are also many forex traders waiting for the much-heralded forex Combines. I ask only because for so long now Topstep's website has been saying that this is coming soon, but there never seems to be an update. Any news would be very welcome, please?

Reply With Quote
The following user says Thank You to Tymbeline for this post:
 
(login for full post details)
  #555 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


Tymbeline View Post
Does anyone from TopstepTrader have any news - or even an estimate - of when forex Combines will be available, please?

I appreciate that there are some related Globex futures products available, but there are also many forex traders waiting for the much-heralded forex Combines. I ask only because for so long now Topstep's website has been saying that this is coming soon, but there never seems to be an update. Any news would be very welcome, please?

Tymbeline,

Thank you for your interest in the Forex Combine. While I can't give you a timeline, the Forex Combine is coming. We are working on the hurdles and are looking forward to making it available to everyone.

I know this doesn't help for planning but I tend to promise little and provide much!

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
The following 3 users say Thank You to Hoag for this post:
 
(login for full post details)
  #556 (permalink)
 jupiejupe 
San Diego California
 
Experience: None
Platform: Home Grown IN Development
Broker: Broker InteractiveBrokers
Trading: CL
 
jupiejupe's Avatar
 
Posts: 146 since Apr 2011
Thanks: 87 given, 68 received

Any current discount codes available for combine?

"Learning to Trade: The Cost Of Tuition"
- a roadmap of my lessons learned as taught by the market
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #557 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,438 since Jan 2013
Thanks: 48,858 given, 21,555 received


jupiejupe View Post
Any current discount codes available for combine?

Look here: https://futures.io/elite_membership/




Bob.

Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to bobwest for this post:
 
(login for full post details)
  #558 (permalink)
 chipps1983 
Dover+NJ/US
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Stage5/Advantage Futures
Trading: NQ
 
chipps1983's Avatar
 
Posts: 2,040 since Jan 2015
Thanks: 5,104 given, 3,642 received

I trade part time since I have 40 hours week full time job. More importantly, I am not US citizen and working in US on work permit.
I do have small size trading account with infinity and not faced any problem while opening it.

Question: Can I try TST combine and if passed, am I eligible for funded account ?

--------
Chipps
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #559 (permalink)
 chipps1983 
Dover+NJ/US
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Stage5/Advantage Futures
Trading: NQ
 
chipps1983's Avatar
 
Posts: 2,040 since Jan 2015
Thanks: 5,104 given, 3,642 received


chipps1983 View Post
I trade part time since I have 40 hours week full time job. More importantly, I am not US citizen and working in US on work permit.
I do have small size trading account with infinity and not faced any problem while opening it.

Question: Can I try TST combine and if passed, am I eligible for funded account ?

Nevermind, I checked with TST support and they are good with my criteria.

--------
Chipps
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #560 (permalink)
 Zach b 
NV
 
Experience: Intermediate
Platform: NinjaTrader
Trading: fx
 
Posts: 21 since Mar 2010
Thanks: 18 given, 11 received

Hi,
Can you please confirm that when you complete a combine,
and the LTP as documented below, the daily loss and max drawdown you are provided corresponds to the combine level that you have invested in with the only exception being the scaling plan? I have seen some things on the boards to the contrary so wanted to get clarification.
Thanks!


Reply With Quote
 
(login for full post details)
  #561 (permalink)
 DarkPoolTrading 
PTA, Gauteng
 
Experience: Advanced
Platform: Self built + Sierra + TWS
Trading: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,321 received


Zach b View Post
Hi,
Can you please confirm that when you complete a combine,
and the LTP as documented below, the daily loss and max drawdown you are provided corresponds to the combine level that you have invested in with the only exception being the scaling plan? I have seen some things on the boards to the contrary so wanted to get clarification.
Thanks!


You would certainly expect that to be the case (ie: pass the combine and simply continue trading the same way you did, with the exception of the scaling plan). But no, that is not the case. After going live you only have the max drawdown for 10 days, then it magically disappears. I detailed the issue here quite a while back:


The continuous combine is marketed to a certain type of trader,...yet when that trader passes the combine and gets funded they are placed under arbitrary 10 day rules.

When they implemented that rule, I stopped participating in the combine and returned to my personal account because their business model became crystal clear and no longer aligned with what I consider to be reasonable and in the interest of both parties.

Diversification is the only free lunch
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #562 (permalink)
 Zach b 
NV
 
Experience: Intermediate
Platform: NinjaTrader
Trading: fx
 
Posts: 21 since Mar 2010
Thanks: 18 given, 11 received


DarkPoolTrading View Post
You would certainly expect that to be the case (ie: pass the combine and simply continue trading the same way you did, with the exception of the scaling plan). But no, that is not the case. After going live you only have the max drawdown for 10 days, then it magically disappears. I detailed the issue here quite a while back:


The continuous combine is marketed to a certain type of trader,...yet when that trader passes the combine and gets funded they are placed under arbitrary 10 day rules.

When they implemented that rule, I stopped participating in the combine and returned to my personal account because their business model became crystal clear and no longer aligned with what I consider to be reasonable and in the interest of both parties.

Hi DarkPool,
What you mentioned (RE the 10 days) is documented in the image that I posted. My question is just making sure that you get that same max drawdown during those 10 days if that is the combine you pay for, since some of the other older post by other members make it seem like you do not.

Reply With Quote
 
(login for full post details)
  #563 (permalink)
 Zach b 
NV
 
Experience: Intermediate
Platform: NinjaTrader
Trading: fx
 
Posts: 21 since Mar 2010
Thanks: 18 given, 11 received

Is the scaling plan based on equity high at close or intraday activity?

Reply With Quote
 
(login for full post details)
  #564 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


Zach b View Post
Is the scaling plan based on equity high at close or intraday activity?

Zach,

The scaling plan is based on equity high at close and the equity level need not be maintained to continue at the larger trade size.

Hope this clears it up. Trade well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
The following user says Thank You to Hoag for this post:
 
(login for full post details)
  #565 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


Zach b View Post
Hi DarkPool,
What you mentioned (RE the 10 days) is documented in the image that I posted. My question is just making sure that you get that same max drawdown during those 10 days if that is the combine you pay for, since some of the other older post by other members make it seem like you do not.

Zach,

You have the same max drawdown you had in the Combine you were successful in for the first 10 trading days. Trade well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
The following user says Thank You to Hoag for this post:
 
(login for full post details)
  #566 (permalink)
 Zach b 
NV
 
Experience: Intermediate
Platform: NinjaTrader
Trading: fx
 
Posts: 21 since Mar 2010
Thanks: 18 given, 11 received

Thanks for clarifying.

Reply With Quote
 
(login for full post details)
  #567 (permalink)
 jeffalan 
Raleigh, NC
 
Experience: Intermediate
Platform: NinjaTrader
 
Posts: 25 since Sep 2010
Thanks: 9 given, 20 received

A clarifying question please. Are all funded traders funded at the combine levels they have purchased and passed or is every funded trader funded at the $30,000 mark. For instance if you purchased a $150,000 combine and passed it and a LTP is this going to be your funded level? Just curious, Hoag?

Reply With Quote
 
(login for full post details)
  #568 (permalink)
 TraderG 
Toronto
 
Experience: Intermediate
Platform: NinjaTrader, TOS
Broker: Rithmic
Trading: CL
 
Posts: 17 since Aug 2009
Thanks: 1 given, 9 received

I have been trading the ES and Crude Oil for my combine. My trading system works very well on CL and not so well on ES. I looks like I have to go back to the drawing board to adapt the system to trading ES. If you judge my performance on just CL, I would qualify for my combine. Is there an option to reset just the ES. I am willing to accept a ban on trading the ES on my live account for some time. It will suck if I have to reset the entire account and start fresh.

Reply With Quote
 
(login for full post details)
  #569 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


jeffalan View Post
A clarifying question please. Are all funded traders funded at the combine levels they have purchased and passed or is every funded trader funded at the $30,000 mark. For instance if you purchased a $150,000 combine and passed it and a LTP is this going to be your funded level? Just curious, Hoag?

Jeffalan,

Yes, your funded level is the same as the Combine your were successful in. We do ask that you scale your strategy initially but the larger account sizes can leverage much quicker.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #570 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


TraderG View Post
I have been trading the ES and Crude Oil for my combine. My trading system works very well on CL and not so well on ES. I looks like I have to go back to the drawing board to adapt the system to trading ES. If you judge my performance on just CL, I would qualify for my combine. Is there an option to reset just the ES. I am willing to accept a ban on trading the ES on my live account for some time. It will suck if I have to reset the entire account and start fresh.

TraderG,

We are happy to see you are doing well in CL and hopefully improving your skills everyday. The current rules state that each product traded must have a trading average greater than $0 and there is no option to "reset" one product. If you are in a Continuous Combine you can work your way back to profitability in ES and then submit your Combine. I hope this helps clear things up and keep trading well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #571 (permalink)
 Nowytarg 
Poland
 
Experience: Intermediate
Platform: NinjaTrader
Trading: FGBL, FESX
 
Posts: 8 since Feb 2012
Thanks: 1 given, 2 received

I am aware that this question has been asked many times before, but I am sure that many are keen to know what the hold up is for the inclusion of Eurex products in the Combine. Do you have any information for us regarding a time estimation? Surely if it has taken this long it must mean that you are not able to include them for whatever reason? Please clarify?

Reply With Quote
 
(login for full post details)
  #572 (permalink)
 Tymbeline 
Leeds UK
 
Experience: Intermediate
Platform: TradingView
Broker: LCG, Oanda
Trading: ES, 6E, Cable
 
Tymbeline's Avatar
 
Posts: 474 since Apr 2015
Thanks: 1,254 given, 656 received


Nowytarg View Post
I am aware that this question has been asked many times before, but I am sure that many are keen to know what the hold up is for the inclusion of Eurex products in the Combine.

This question surprised me: I've seen it discussed of "forex", not so much of "Eurex products"? Posts #554 and #555 on page 56 above may help/interest you, anyway?

Reply With Quote
 
(login for full post details)
  #573 (permalink)
 TraderFish 
Sydney, NSW Australia
 
Experience: Intermediate
Platform: Ninjatrader
Trading: ES, CL
 
Posts: 26 since May 2015
Thanks: 17 given, 19 received

Slightly off topic, but can someone fill me in on why people are so keen to have Forex when CME currency futures are already available?

I know they behave slightly differently, but I can't see why so many people would find them more attractive than futures. I mean, there are some pretty exotic currency pairs out there, but I would assume TST would only allow people to trade the majors, at least on combine/LTP.

Follow me on Twitter Reply With Quote
The following user says Thank You to TraderFish for this post:
 
(login for full post details)
  #574 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


Nowytarg View Post
I am aware that this question has been asked many times before, but I am sure that many are keen to know what the hold up is for the inclusion of Eurex products in the Combine. Do you have any information for us regarding a time estimation? Surely if it has taken this long it must mean that you are not able to include them for whatever reason? Please clarify?

Nowytarg,

Eurex products are on the list for inclusion in the Trading Combine. We have a couple of projects first so I do not have a timeline though. Thanks for your interest, it is very important for us to know of your interest. Trade well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #575 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


TraderFish View Post
Slightly off topic, but can someone fill me in on why people are so keen to have Forex when CME currency futures are already available?

I know they behave slightly differently, but I can't see why so many people would find them more attractive than futures. I mean, there are some pretty exotic currency pairs out there, but I would assume TST would only allow people to trade the majors, at least on combine/LTP.

TraderFish,

We can't speak for everyone, but the Forex market is huge and the Forex traders are used to the platforms and order entry, as well as the leverage. We will be offering the Forex markets in the Trading Combine, again I can not give a timeline, but we want traders to have the ability to products and tools they are used to. Thank you for your question and interest. Trade well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #576 (permalink)
pavanb15589
Bangalore+India
 
 
Posts: 40 since Aug 2015
Thanks: 5 given, 26 received

Hello Topstep,

I see FXCM in the list of your platforms in another Topstep profile page on futures.io (formerly BMT) but I do not see tradestation when I go to Combine page. Do you offer tradestation for Combine.

And how will the initial Combine payment be refunded. Will it be reversed to the mode of payment or some other way?

Reply With Quote
 
(login for full post details)
  #577 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


pavanb15589 View Post
Hello Topstep,

I see FXCM in the list of your platforms in another Topstep profile page on futures.io (formerly BMT) but I do not see tradestation when I go to Combine page. Do you offer tradestation for Combine.

And how will the initial Combine payment be refunded. Will it be reversed to the mode of payment or some other way?

Hello panvan15589,

Tradestation is not currently offered for use in the Combine. Combine deposit refunds will be reversed to the mode of payment. I hope this helps, always ask if you have any further questions. Trade well!

John Hoagland

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #578 (permalink)
pavanb15589
Bangalore+India
 
 
Posts: 40 since Aug 2015
Thanks: 5 given, 26 received

Hello John,

I have been using the practice account for a while now and as I have never ever traded US stocks or Futures market ever, I have come up with a plan to go through combine.

Although, the account has been really helpful, I would like to know if Combine and the actual funded account will have relatively the same order fills and slippages and any kind of order queue that is experienced on the practice account.

I am aware that all the orders on the practice account are routed to a different paper trading server and this will have entirely different response and the slippages are practically zero since there is no real order processing taking place.

So I would like to know if there is going to be any difference between the Combine, Funded and Practice account and if so, by up to what extent, may I know?

Thank You,
Pavan

Reply With Quote
 
(login for full post details)
  #579 (permalink)
 ArbTrader 
San Jose, CA USA
 
Experience: Beginner
Platform: Ninja
Trading: Futures
 
Posts: 31 since May 2013
Thanks: 35 given, 15 received

"Enter the Continuous Combine and you'll have unlimited trading days to reach the Objective (below). The monthly cost of the Continuous Combine is non-refundable, set to recur 30 days from the sign up date. There is a two month minimum commitment, unless you meet the Combine Objective in the first month."

It is my understanding that deposit is refundable on 10 day combine if objectives are met, however, its not the case of continuous combine.

Can you please explain reasoning behind the idea?

Reply With Quote
 
(login for full post details)
  #580 (permalink)
Surprise
Amman/Jordan
 
 
Posts: 39 since May 2013
Thanks: 13 given, 13 received

I dont get this part : "There is a two month minimum commitment, unless you meet the Combine Objective in the first month."

Reply With Quote
 
(login for full post details)
  #581 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,438 since Jan 2013
Thanks: 48,858 given, 21,555 received


Surprise View Post
I dont get this part : "There is a two month minimum commitment, unless you meet the Combine Objective in the first month."

If you sign up for a Continuous Combine, they will automatically charge you the monthly fee every month. You are committed to making at least two monthly payments. However, if you pass the Combine before the second month's fee becomes due, then you will not be charged for it, since the Combine itself will be over and you will go on to either a funded account or, at their discretion, a Funded Trader Prep.

After you have made the minimum two payments, if you want to opt out of the continuing monthly subscription, you can email them at their support email address and have the Combine cancelled. I believe they ask for three days notice before the next payment is due -- check the website for details.

Additional info, although you haven't asked: if you blow up the Combine by losing more than the daily loss limit or the trailing max drawdown, or some other rule violation, the Combine becomes a practice account with a live data feed, but is not eligible for funding. You will still be charged on schedule unless you cancel after the two payments. If you wish, you can "Reset" the Combine, which returns it to the initial state and original balance, and lets you be considered for funding if you meet the goals, but costs an additional $100. Resetting does not change the due dates of the subscription payments, and does not stand in place of the normal subscription payment. But if you've already made the second payment, you can just have the current Combine cancelled and start up a new one without the Reset fee.

This is kind of involved, and yes, it does mean paying money, but don't blame me, I'm just the messenger.

It's all explained somewhere on the site....

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to bobwest for this post:
 
(login for full post details)
  #582 (permalink)
Surprise
Amman/Jordan
 
 
Posts: 39 since May 2013
Thanks: 13 given, 13 received


bobwest View Post
If you sign up for a Continuous Combine, they will automatically charge you the monthly fee every month. You are committed to making at least two monthly payments. However, if you pass the Combine before the second month's fee becomes due, then you will not be charged for it, since the Combine itself will be over and you will go on to either a funded account or, at their discretion, a Funded Trader Prep.

After you have made the minimum two payments, if you want to opt out of the continuing monthly subscription, you can email them at their support email address and have the Combine cancelled. I believe they ask for three days notice before the next payment is due -- check the website for details.

Additional info, although you haven't asked: if you blow up the Combine by losing more than the daily loss limit or the trailing max drawdown, or some other rule violation, the Combine becomes a practice account with a live data feed, but is not eligible for funding. You will still be charged on schedule unless you cancel after the two payments. If you wish, you can "Reset" the Combine, which returns it to the initial state and original balance, and lets you be considered for funding if you meet the goals, but costs an additional $100. Resetting does not change the due dates of the subscription payments, and does not stand in place of the normal subscription payment. But if you've already made the second payment, you can just have the current Combine cancelled and start up a new one without the Reset fee.

This is kind of involved, and yes, it does mean paying money, but don't blame me, I'm just the messenger.

It's all explained somewhere on the site....

Bob.

Ok i understand so if i fail to pass from the first month i still have to pay for a second month and i don't have an option ok ok ...

Reply With Quote
 
(login for full post details)
  #583 (permalink)
 isla 
Kyiv/Ukraine
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: Indexes, CL
 
Posts: 114 since Jun 2012
Thanks: 79 given, 174 received

Hello.

This is both a review and a complaint, so I am still hopeful to hear a meaningful answer from Topsteptrader people after my unfortunate attempts in their chat room and via email.

I have been doing Combines for some time and passed a $30K one in August. I was prepared for the possibility of having to go through Live/Funded Trader Preparation (LTP) so wasn't too surprised when I was told I needed one.

Here is the main part official email they send out with all rules and requirements:

"After reviewing your Trading CombineŽ, our firm is prepared to provide you with a funded account pending your performance in Funded Trader Preparation. Your account parameters will be identical to that of the funded account. Use this time to get comfortable with the transition. Below are your account parameters and the objective of the account.

Account Parameters

Trading Platform: NinjaTrader

Duration: Until profits of $750 are established (minimum of 10 trading days required, maximum of 60 calendar days)

Starting Balance: $0

Daily Loss Limit: $500

Max Drawdown: $1,500 (account may not drop below Trailing Max Drawdown)

Products to Trade: E-Mini Nasdaq, E-Mini Dow, Crude Oil

Trading Hours (in Central Time): (same as permitted times consistently traded during successful Combine)
Start time: 7:00 am
Stop time: 3:10 pm

Objective: Follow the Rules (below) and profit $750

Always implement stops with an open position
Only trade permitted products, during the permitted times (as listed above)
Achieve an Average Net P&L greater than $0 for each product traded (enforced after 10 trading days)
Achieve at least 45% Profitable Days (enforced after 10 trading days)

Ensure your Largest Losing Day will not hit or exceed Daily Loss Limit
Ensure your Account Balance will not hit or exceed your Trailing Max Drawdown
Do not hold positions into major economic releases
Follow the funded trader scaling plan"


My complaint/review is based solely on my understanding of these rules (meaning I didn't have any questions when I started my LTP) and I accept that some people will have a different read on the situation. But I also know after trying to get clarifications in Topsteptrader Squawk chat room (from moderators and CEO), that some people also find wording unclear.

I highlighted parts which I would like to discuss further.

First: "Your account parameters will be identical to that of the funded account". I am pointing out that what happened to me in my LTP may easily happen to traders who go straight into Live account after passing their Combine.

And more interesting: "Achieve an Average Net P&L greater than $0 for each product traded (enforced after 10 trading days); Achieve at least 45% Profitable Days (enforced after 10 trading days)". For some people it may be as clear as day. But based on my read, I expected my trading results to be checked after 10 trading days and if all the requirements were met, I could trade until the 60day dead-line or until target was reached.

What happened though was different. At the end of day 10 (Septermber 18) I had positive PnL in all three products I traded and other requirements were also met. I thought the tricky bit was over as I would have more freedom to trade under less scrutiny. On day 11 I had two losing trades (one in YM and one in NQ) and my PnL for YM went negative (-$97 overal).




I didn't think my LTP was going great, but hey is it that terrible being flat PnL after just over one month of trading under restrictions? Anyway, I came in on day 12 and to my surprise my account was blocked. Here is the answer I received from Topsteptrader via email after I asked for clarification of what happened:

"Achieve an Average Net P&L greater than $0 for each product traded (enforced after 10 trading days) means that you must have and maintain a positive account balance for each of the products that you are trading after the 10th trading day. After the 10th day of trading in your Combine, you had a negative balance trading the ES." (should be YM, not ES. they corrected mistake in the next email)

So to sum up. My LTP "failure" was caused by my wrong interpretation of rules, I accept. But essentially, "you must have and maintain" means if you don't have much of PnL cushion and your % of profitable days is not higher than 50% after 10 days, you practically don't have any downside to trade with. You can go out, like I did, based on one day performance.

Now, I don't have any problems with this rule per se, rather with its wording in the LTP email and on Topsteptrader website. I have no complaints on how my LTP was judged and I understand that mentioned rules can be read as intended. But shouldn't it be Topsteptrader's main priority to make rules and requirements as clear as possible, especially considering how crucial these details may be to success in their program?

Quite disappointing was the way Topsteptrader addressed my query, even though I never complained about the decision but only asked for clarification. The most common answer I received has been" "In writing (email), we laid out all the Rules of the Funded Trader Preparation for you. In addition to that, we provided you with a phone number to call if you had any question".

Simply telling me they have a phone number? Really? From a business that relies so much on people's striving to get funded I expected a more understanding and flexible approach.

I also think that if they changed the wording and explained the rules more clearly (as they did in the email reply to my query) it could impact traders' decisions on strategies they use (at least), and maybe even would make Topsteptrader more transparent in terms of what sort of traders they look for.

As I mentioned, I had a chat with other traders in Topsteptrader Squawk room and they also shared my frustration about possible interpretations of the rules, so I know it's not just me. Obviously I have no idea how big the scale of the problem is and would be interested to hear opinions. Please, any Topsteptrader supporters, don't tell me how clear the rules are or that I need to stop blaming everyone and work on my trading. This is simply a matter of transparency and good customer service.

Reply With Quote
The following 5 users say Thank You to isla for this post:
 
(login for full post details)
  #584 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,438 since Jan 2013
Thanks: 48,858 given, 21,555 received


isla View Post
And more interesting: "Achieve an Average Net P&L greater than $0 for each product traded (enforced after 10 trading days); Achieve at least 45% Profitable Days (enforced after 10 trading days)". For some people it may be as clear as day. But based on my read, I expected my trading results to be checked after 10 trading days and if all the requirements were met, I could trade until the 60day dead-line or until target was reached.
...
Please, any Topsteptrader supporters, don't tell me how clear the rules are or that I need to stop blaming everyone and work on my trading. This is simply a matter of transparency and good customer service.

Well, since you asked not to be told this, you may not like my reply.... but I mean you no ill-will at all. It's just that I don't see how "You must have a positive balance (enforced after 10 trading days)" can mean anything other than, "You must have a positive balance after 10 trading days." Your reading of the phrase seems to mean that after 10 trading days, they will check it once and then not enforce it any more, not that they will start to enforce it then.

That said, it sucks that you believed you were doing well, but understood the rules differently from the way they meant them.

I don't think there was anything wrong with their phrasing, but if either Michael ( @TopstepTrader ) or @Hoag read this, it might be more clear to change the wording to "You must have and maintain a balance greater than $0 after 10 trading days," or something like that. It's the same, but it's a little more direct, which is always a good idea.

Again, I'm sorry you had this happen, and I'm not writing as a Topstep supporter or partisan. I would be happy to critique them if I agreed....

Since you've proven you can trade well, I hope you will go on and trade successfully in the future, either with Topstep or on your own.

Good luck, whatever you decide on doing.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to bobwest for this post:
 
(login for full post details)
  #585 (permalink)
 TraderFish 
Sydney, NSW Australia
 
Experience: Intermediate
Platform: Ninjatrader
Trading: ES, CL
 
Posts: 26 since May 2015
Thanks: 17 given, 19 received

While I would have read that message as intended, I can TOTALLY see why you read it as you did. I agree they should possibly look at rewording it just to eliminate any ambiguity. Nothing worse than thinking you are smashing something then be told you are not.

Follow me on Twitter Reply With Quote
The following 2 users say Thank You to TraderFish for this post:
 
(login for full post details)
  #586 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,438 since Jan 2013
Thanks: 48,858 given, 21,555 received


TraderFish View Post
While I would have read that message as intended, I can TOTALLY see why you read it as you did. I agree they should possibly look at rewording it just to eliminate any ambiguity. Nothing worse than thinking you are smashing something then be told you are not.

I basically agree with this. I wouldn't have seen it the way @isla did, but since it has been honestly taken that way, rewriting it would be a good thing for @TopstepTrader to do.

The "enforced after 10 days" wording is clear enough to me, but is slightly strange. Why not just, "After 10 days you must have a positive balance in all instruments every day." It's impossible to misunderstand that, and it is not even slightly strange. Who cares when they "enforce" something.... just tell me what to do. Then there can be no mistaken understandings, and we're all on the same page.

And again, I'm terribly sorry @isla had this disappointment, and I hope that I was not unclear about that in my initial response.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to bobwest for this post:
 
(login for full post details)
  #587 (permalink)
 MrTrader 
ITAJAI SC/BRAZIL
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Clear Corretora
Trading: DOLFUT, WINFUT
 
Posts: 240 since Jun 2014
Thanks: 982 given, 163 received


bobwest View Post

The "enforced after 10 days" wording is clear enough to me, but is slightly strange.

Why not just, "After 10 days you must have a positive balance in all instruments every day."

It's impossible to misunderstand that, and it is not even slightly strange.
Who cares when they "enforce" something.... just tell me what to do.
Then there can be no mistaken understandings, and we're all on the same page.

WOW!!! THAT´S IS A HUGE DIFFERENCE FOR ME. As a foreigner that is MUCH more clear.
Actually, I understood today.

Reply With Quote
The following 3 users say Thank You to MrTrader for this post:
 
(login for full post details)
  #588 (permalink)
 ratfink 
Birmingham UK
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
 
ratfink's Avatar
 
Posts: 3,651 since Dec 2012
Thanks: 17,422 given, 8,403 received

Given the complication of having to be positive in all instruments why would anybody choose to do a multi-instrument combine?

Is it necessary to then be able to trade multiple instruments if funded status is achieved?

p.s. I would still like to take the FDAX challenge if offered, that would be one beast enough, no other complications needed.

Travel Well
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to ratfink for this post:
 
(login for full post details)
  #589 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,438 since Jan 2013
Thanks: 48,858 given, 21,555 received


ratfink View Post
Given the complication of having to be positive in all instruments why would anybody choose to do a multi-instrument combine?

Is it necessary to then be able to trade multiple instruments if funded status is achieved?

p.s. I would still like to take the FDAX challenge if offered, that would be one beast enough, no other complications needed.

My observation, over time, is that trading multiple instruments has done in many a Combiner and also many a Funded Trader Preper. Couldn't say about actually funded traders, but it makes sense to me to not be too spread out in the things you are attempting to be an expert at.

Anyway, it is not necessary to be able to trade multiple instruments to be in this game....

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to bobwest for this post:
 
(login for full post details)
  #590 (permalink)
DrewDown
Kansas City, MO U.S.
 
 
Posts: 211 since Mar 2015
Thanks: 301 given, 122 received

It is really hard to do what they ask and trade multiple instruments. I would recommend sticking to your strongest one.

Reply With Quote
The following 3 users say Thank You to DrewDown for this post:
 
(login for full post details)
  #591 (permalink)
 Hoag 
Chicago Illinois
 
Experience: Advanced
Platform: T4
Trading: ES
 
Hoag's Avatar
 
Posts: 65 since Mar 2012
Thanks: 23 given, 309 received


isla View Post
Hello.
My complaint/review is based solely on my understanding of these rules (meaning I didn't have any questions when I started my LTP) and I accept that some people will have a different read on the situation. But I also know after trying to get clarifications in Topsteptrader Squawk chat room (from moderators and CEO), that some people also find wording unclear.

Isla,

We appreciate all and any feedback and will make every effort to make this more clear. We have built this Company with your feedback and by listening to all of the participants in the Combine and Funded Accounts. We will be in touch regarding any other ideas you may have. Again, thank you for your feedback.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Follow me on Twitter Reply With Quote
The following 4 users say Thank You to Hoag for this post:
 
(login for full post details)
  #592 (permalink)
 tortoise 
Boston, MA
 
Experience: Intermediate
Platform: MultiCharts, TradeStation, NinjaTrader, ThinkorSwim
Trading: ES
 
Posts: 26 since Jul 2011
Thanks: 16 given, 13 received


bobwest View Post
Well, since you asked not to be told this, you may not like my reply.... but I mean you no ill-will at all. It's just that I don't see how "You must have a positive balance (enforced after 10 trading days)" can mean anything other than, "You must have a positive balance after 10 trading days." Your reading of the phrase seems to mean that after 10 trading days, they will check it once and then not enforce it any more, not that they will start to enforce it then.

That said, it sucks that you believed you were doing well, but understood the rules differently from the way they meant them.

I don't think there was anything wrong with their phrasing, but if either Michael ( @TopstepTrader ) or @Hoag read this, it might be more clear to change the wording to "You must have and maintain a balance greater than $0 after 10 trading days," or something like that. It's the same, but it's a little more direct, which is always a good idea.

Again, I'm sorry you had this happen, and I'm not writing as a Topstep supporter or partisan. I would be happy to critique them if I agreed....

Since you've proven you can trade well, I hope you will go on and trade successfully in the future, either with Topstep or on your own.

Good luck, whatever you decide on doing.

Bob.

I beg to differ: I think their wording is slippery. Why not just say "You must achieve and maintain a positive balance after the tenth trading day"?

I misunderstood that "enforced after 10 days" language as well. I sent TopStep two requests for clarification and received no reply.

Most underwhelmed. Not at all certain what TopStep's game is...

Reply With Quote
 
(login for full post details)
  #593 (permalink)
 tortoise 
Boston, MA
 
Experience: Intermediate
Platform: MultiCharts, TradeStation, NinjaTrader, ThinkorSwim
Trading: ES
 
Posts: 26 since Jul 2011
Thanks: 16 given, 13 received


isla View Post
Hello.
But shouldn't it be Topsteptrader's main priority to make rules and requirements as clear as possible, especially considering how crucial these details may be to success in their program?

Please, any Topsteptrader supporters, don't tell me how clear the rules are or that I need to stop blaming everyone and work on my trading. This is simply a matter of transparency and good customer service.

Could not agree with you more. I stumbled over this exact same issue and have received no response from TopStep to my inquiries. In fact, TopStep never responds: I requested a phone call prior to starting Funded Trader Prep, but I never got one.

This, after I passed the $30k combine with more than double the profit minimum and a smooth equity curve.

They just cancelled my account without so much as a peep. But they still have my money.

Reply With Quote
 
(login for full post details)
  #594 (permalink)
 UmBillyCord 
San Diego, California
 
Experience: Advanced
Platform: NinjaTrader, Multicharts
Broker: Optimus/Amp - CQG/Rithmic/IQ
Trading: NQ,TF,YM,CL,Options
 
UmBillyCord's Avatar
 
Posts: 73 since Apr 2014


tortoise View Post
Most underwhelmed. Not at all certain what TopStep's game is...

I think it is pretty obvious what their game is

Reply With Quote
 
(login for full post details)
  #595 (permalink)
 tortoise 
Boston, MA
 
Experience: Intermediate
Platform: MultiCharts, TradeStation, NinjaTrader, ThinkorSwim
Trading: ES
 
Posts: 26 since Jul 2011
Thanks: 16 given, 13 received


UmBillyCord View Post
I think it is pretty obvious what their game is

Yeah. Silly me.

Reply With Quote
 
(login for full post details)
  #596 (permalink)
 UmBillyCord 
San Diego, California
 
Experience: Advanced
Platform: NinjaTrader, Multicharts
Broker: Optimus/Amp - CQG/Rithmic/IQ
Trading: NQ,TF,YM,CL,Options
 
UmBillyCord's Avatar
 
Posts: 73 since Apr 2014


tortoise View Post
Yeah. Silly me.

Sorry you got taken.

Reply With Quote
 
(login for full post details)
  #597 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,438 since Jan 2013
Thanks: 48,858 given, 21,555 received


tortoise View Post
I beg to differ: I think their wording is slippery. Why not just say "You must achieve and maintain a positive balance after the tenth trading day"?

I misunderstood that "enforced after 10 days" language as well. I sent TopStep two requests for clarification and received no reply.

Most underwhelmed. Not at all certain what TopStep's game is...


I just deleted a previous post that I realized was too confrontational.

I am very sorry that you had these problems with TsT.

My only point is that they do fund traders, and that it is in their business interest to do so, not to just collect the Combine fees -- if they didn't place a priority on finding traders to trade for them, they wouldn't be actually funding any, and that would be very well-known by now.

Instead, we know, from many journals here, that people are getting funded. So that really is their game.

I do hope that @Hoag, or someone else from TsT, reads these recent posts and decides to rewrite the statement to eliminate any chance of misunderstanding. Something like "You must achieve and maintain a balance above $0 after the end of the tenth day, and every day afterward" would be impossible to understand any differently.

Again, I am sympathetic with your disappointment, but no one was trying to rip anyone off. That simply doesn't fit with the fact that traders are being funded. Their game is not to collect fees without funding traders.

I hope you go on and have a success in your trading career, however you do it.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to bobwest for this post:
 
(login for full post details)
  #598 (permalink)
DrewDown
Kansas City, MO U.S.
 
 
Posts: 211 since Mar 2015
Thanks: 301 given, 122 received

I find it interesting that people believe they are entitled to be funded. That's just pretty funny. Argue all you want, but that's the vibe I'm getting. If you really think this, walk into a prop shop tomorrow, or call up a lawyer, get some finra certifications, and start wining and dining rich people to get them to back you. Good luck with that.

This business is all about consistency. Only thing that needs be said. I have a friend in Chicago that knows a guy on the funding team. They are legit.

Reply With Quote
The following 2 users say Thank You to DrewDown for this post:
 
(login for full post details)
  #599 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,438 since Jan 2013
Thanks: 48,858 given, 21,555 received


DrewDown View Post
Only thing that needs be said. I have a friend in Chicago that knows a guy on the funding team. They are legit.

This has been obvious for a long time. Traders are getting funded, all the time.

That case is really closed by now.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to bobwest for this post:
 
(login for full post details)
  #600 (permalink)
 DarkPoolTrading 
PTA, Gauteng
 
Experience: Advanced
Platform: Self built + Sierra + TWS
Trading: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,321 received


bobwest View Post
My only point is that they do fund traders, and that it is in their business interest to do so, not to just collect the Combine fees

Hey bob,

Yes it is in their interest to fund traders but not for the reasons you present. It is in their interest so that it keeps the dream alive for the hundreds of hopefuls constantly re-doing combines.

Fact: They do fund traders. Fact: some percentage of their funded traders earn money through them.

However their business model and reason for being profitable is a constant stream of new and existing traders constantly re-doing combines keeping the dream alive.

Their payout percentages are the best in the industry. Why is that? Is it because a small percentage of funded traders are making such massive profits every single month that TST is able to pay all their staff from the tiny profit they keep. If people believe that then there's nothing more to really say. On the other hand how many people constantly re-do combines every single month.

Being able to say you offer the best payout percentages in the industry sais 1 thing quite clearly, your company's business model relies on a constant stream of combines, not on funded traders. It may be useful to look into successful prop firms that have been around for many years (eg: SMB) to compare business models. That's not saying one is better than the other. But to say they have the same business model (ie: relying on funded trader profit as is the case with SMB) is simply not true.

Diversification is the only free lunch
Follow me on Twitter Reply With Quote
The following 3 users say Thank You to DarkPoolTrading for this post:


futures io Trading Community Trading Reviews and Vendors > TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)


Last Updated on April 10, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Journal Challenge w/$1,800 in prizes!

April

Seven Trading Mistakes Solved With Smart Trading Tools w/Brannigan Barrett

Elite only
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
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.
no new posts