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


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

  #1131 (permalink)
Waryman
Philadelphia, PA
 
Posts: 6 since Jun 2020
Thanks Given: 50
Thanks Received: 2

@TopstepTrader

Any plans to offer accounts larger than 150K?


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  #1132 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746


Waryman View Post
@TopstepTrader

Any plans to offer accounts larger than 150K?

Hi @Waryman, We don't currently have plans for an account larger than $150k, and have shared your message with our team.

Thank you!

  #1133 (permalink)
 
Chippstrader's Avatar
 Chippstrader 
Randolph+NJ/US
Market Wizard
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Stage5/Advantage Futures
Trading: NQ
Posts: 2,050 since Jan 2015
Thanks Given: 5,241
Thanks Received: 3,656



chipps1983 View Post
@TopstepTrader,

Even though the tradovate platform is provided, all the features from the software are not in place while a trader trading a combine using TST tradovate.

Atleast it is traders responsiblity to set this settings by them selves so they don't place the trade more than the contract limit and failing the rule.


https://tradovate.zendesk.com/hc/en-us/articles/360035752033-How-do-I-set-a-Position-Limit-on-my-account-

Hope this gets enabled.

I know a friend who failed pro account twice due to this.

@TopstepTrader

Any feedback on the above request.

--------
Chipps
Follow me on Twitter Visit my NexusFi Trade Journal
  #1134 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746


chipps1983 View Post
@TopstepTrader

Any feedback on the above request.

Hi @chipps1983,

Our rules are meant to teach discipline, and allow us to find disciplined traders. Therefore, it's the trader's responsibility to monitor their position sizing. Whether they do that manually or programmatically is up to the individual. Because not all platforms offer the tools you mention, we don't provide the ability for certain traders to circumvent or avoid our rules while others cannot.

The evaluation may not work properly if there are safety nets or bumpers on the rules for select traders. Hope this helps.

Thank you!

  #1135 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746


chipps1983 View Post
@TopstepTrader

Any feedback on the above request.

Hi @chipps1983,

Our rules are meant to teach discipline, and allow us to find disciplined traders. Therefore, it's the trader's responsibility to monitor their position sizing. Whether they do that manually or programmatically is up to the individual. Because not all platforms offer the tools you mention, we don't provide the ability for certain traders to circumvent or avoid our rules while others cannot.

The evaluation may not work properly if there are safety nets or bumpers on the rules for select traders. Hope this helps.

Thank you!

Thanked by:
  #1136 (permalink)
 
Chippstrader's Avatar
 Chippstrader 
Randolph+NJ/US
Market Wizard
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Stage5/Advantage Futures
Trading: NQ
Posts: 2,050 since Jan 2015
Thanks Given: 5,241
Thanks Received: 3,656


TopstepTrader View Post
Hi @chipps1983,

Our rules are meant to teach discipline, and allow us to find disciplined traders. Therefore, it's the trader's responsibility to monitor their position sizing. Whether they do that manually or programmatically is up to the individual. Because not all platforms offer the tools you mention, we don't provide the ability for certain traders to circumvent or avoid our rules while others cannot.

The evaluation may not work properly if there are safety nets or bumpers on the rules for select traders. Hope this helps.

Thank you!

Thank you for explaining. I agree with you 75%.

At least for a pro / Funded account, the feature needs to be enabled. That is my feedback and anyone from the forum would agree with me on this.

After working so hard on Step 1 and Step 2. and with a simple mistake like on scaling with the wrong click could ruin one's months of work put in.

--------
Chipps
Follow me on Twitter Visit my NexusFi Trade Journal
Thanked by:
  #1137 (permalink)
 
lemons's Avatar
 lemons 
Tallinn, Estonia
 
Experience: Beginner
Platform: SC
Trading: NAS100
Posts: 959 since Nov 2010


chipps1983 View Post
Thank you for explaining. I agree with you 75%.

At least for a pro / Funded account, the feature needs to be enabled. That is my feedback and anyone from the forum would agree with me on this.

After working so hard on Step 1 and Step 2. and with a simple mistake like on scaling with the wrong click could ruin one's months of work put in.

Reading behind the lines of TST answer : " We hope you slip and reset account and we make money "

In funded account its enabled and they don't want to reinforce learned discipline for traders ?
Camon if you want to teach discipline unable the feature from live accounts too.

  #1138 (permalink)
 
Tymbeline's Avatar
 Tymbeline 
Leeds UK
Market Wizard
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradovate
Trading: MES, MNQ
Frequency: Several times daily
Duration: Minutes
Posts: 644 since Apr 2015
Thanks Given: 2,342
Thanks Received: 1,054


lemons View Post
Reading behind the lines of TST answer : " We hope you slip and reset account and we make money "

TST's answer does come across that way, a little, I'm sorry to say.

Thanked by:
  #1139 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,343
Thanks Received: 26,267


chipps1983 View Post
Thank you for explaining. I agree with you 75%.

At least for a pro / Funded account, the feature needs to be enabled. That is my feedback and anyone from the forum would agree with me on this.

After working so hard on Step 1 and Step 2. and with a simple mistake like on scaling with the wrong click could ruin one's months of work put in.

Totally agree about @chipps1983's point about putting it in effect for funded accounts. This is a feature that brokers often make available for their live accounts, and it can be a useful backstop for traders, much as a regular stop order can be. There is no reason not to use it if the trader elects to.


lemons View Post
Reading behind the lines of TST answer : " We hope you slip and reset account and we make money "

No opinion about trying to get traders to slip up and make money. You can assume anything you like about anyone's motives. The simple advice is not to use their program if you believe they are trying to harm you. Problem solved.

My view on the technical issue would be that the Combine is a very artificial thing, and any such feature probably would need to be put into place in software -- for example, by Rithmic, which is imitating an actual broker passing trades on to the exchange in the Combine via its simulation server. So it may or may not have the ability to implement it without software changes. In a real trading situation, including a funded account, it is up to the broker to enforce, so if the broker has this capability it is a non-issue. If he broker doesn't, then it isn't going to happen. But no software changes are required.

I am perfectly willing to be proven wrong about this, and have no particular stake one way or the other. But I do think that TST should actually expect that in a funded account, the trader might want to arrange with their broker to have a loss limit or position size limit enforced at the broker side. Since this is available to any live trader whose broker can accommodate it, it obviously needs to be available to the TST funded traders also, where the broker can accommodate it, just for competitive reasons.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
Thanked by:
  #1140 (permalink)
 
Chippstrader's Avatar
 Chippstrader 
Randolph+NJ/US
Market Wizard
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Stage5/Advantage Futures
Trading: NQ
Posts: 2,050 since Jan 2015
Thanks Given: 5,241
Thanks Received: 3,656


I don't have anything against the business or the model. In fact, I see @TopstepTrader convenient and easy to process amongst the various prop firms out there.

It is their business and their rules since they are backing the traders with their money on the line. You are putting a monthly fee to get such a big account to try without putting your real money.

I just put my honest feedback out there.

--------
Chipps
Follow me on Twitter Visit my NexusFi Trade Journal

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