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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)

  #1161 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
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TopstepTrader View Post
ANNOUNCEMENT: Up to 33% OFF Trading Combine Packages

The weather is starting to cool down in many parts of the world, but that doesn’t mean you can’t enjoy traditional winter activities such as skiing, skating, and trading. For a limited time, we’re offering our best Trading Combine and Reset packages to help you get started.

If you buy before 11:59 PM CT on Tuesday, December 1, you can save for as long as you are in your active account.

Check out the deals HERE!

Just visited your site and found this page describing the scaling plan:
In Step 2 of the Trading Combine®, your account will be evaluated against the Scaling Plan at the end of each trading day. As you build or lose equity, your buying power will increase or decrease based on your end of day P&L, according to the graph below:

*Please Note: Micros products are considered full-sized lots in the Topstep program. For example, 1 lot in ES is considered the same as 1 lot in MES in regards to the Scaling Plan.


I see you are allowing a person to use micro lots in your combine but i don't understand the logic in considering 1 ES the same as 1 lot in MES?

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  #1162 (permalink)
Yahya030
Berlin
 
Posts: 1 since Nov 2020
Thanks Given: 0
Thanks Received: 0

TopstepTrader ripped me off // They are taking Peoples money while knowing you won't be eligible for funding, read this before considering trading with topstep.

"PAID 100 DOLLARS FOR TRADING 9 DAYS IN DEMO ACCOUNT WITHOUT BREAKING A RULE"

So here's what happened I paid for the 50k account on 23.10 and failed it after that I reset my acc 2 more times and fkd it up again hahah, then on 08.11 I reset it a last time and I passed step 1, then 2 days ago my account got closed while beeing in step 2 and not breaking any rules.


I emailed them and asked why and they said because I canceled my subscription on 02.11, I told them I didn't knew that because I just read the combine rules like majority of people would do since u don't read their whole website, and in the combine rules it says qoute on qoute

"If you break a rule and you have not reset, your account will automatically reset when your monthly payment is charged. This will provide you with a new trading account that is eligible for funding along with a reset starting balance and no broken rules.

To me that indicates that if you don't have the monthly subscription you can still reset your account and you will be eligible for funding and your good to go.

So I asked TsT if it's possible if they could give 6 more trading days so I atleast have a chance to finish the combine in the minimum days or if they can't do that atleast refund those 100 dollars, they said : I should resubscribe and pay another 165 dollars, that would put me to a sum of 630 dollars in 1 month for a 50k challenge.

The thing is I paid them for the last reset while they knew that I couldn't even receive a funded account through that payment and they don't want to refund me or give me 6 more days. That means I paid 100 dollars for trading for 9 days in a demo account without having the chance to get anything out of it.

And now they wanna push me into resubscribing saying if I don't pay 165 dollars in the next few days my subscription would run off and I need to start all over again.

Imagine how many people they ripped of like that
I mean at FTMO 92% of challenges were failed
Idk the numbers for Topstep but its probably same since their rules are way worse, Guys this is how Topstep makes their money, 15million in revenue but can't refund 100 dollars to someone who spent 800 dollars with them. If they want people to complete the combines they wouldn't act like that, all they want is your monthly subscription money and resets.

I mean imagine your going into a shop buying a TV and the shopmanager sells you a broken TV because you didn't plug It in in the store and checked and you come back to return it and he offers you to fix it for a 100 bucks,

or buying a plane ticket for a flight while the air company knows that flight is not going to take place and not refunding your money.

It should be TsT's responsibility to not let things like that happen and if it happens they have to fix it what they didn't do in my case and I wonder in how many other cases aswell or maybe people didn't realise and just paid it since they tried to make me hurry for resubscribing aswell,

You call that a serious Company?
Interested in the success of the traders?
Is that how a big company should act?

So if you really wanna trade with them go for it but better compare Ftmo to TsT first, at least ftmo has no hidden rules and shady stuff going on like TsT

  #1163 (permalink)
 tr8er 
Europe
Market Wizard
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
Posts: 704 since Jan 2017
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You made a mistake and you want to blame TST for your own mistakes? The rules are crystal clear and you should know that you have to pay monthly fees. Where is your problem?

p.s. posting the same in multiple threads here isn't very welcome

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  #1164 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532


trendisyourfriend View Post
I see you are allowing a person to use micro lots in your combine but i don't understand the logic in considering 1 ES the same as 1 lot in MES?

They do have a Swing Trading Combine which allows 5 lots max for the four micro US equity index products, with a reduced $1000 profit target and the choice to hold trades overnight.

Micros were added to the main Combine later, I think a little before the Covid crash, just as extra products if the people in the main Combine wanted to reduce risk, or have the option to trade them too.
I have no inside knowledge of TST,just somebody who has taken part in their program, but I imagine their risk management system which was originally created for the original Combine probably close to ten years ago now, was written to manage risk based purely on the number of contracts that were traded. There were no micros then so you just needed to be limited to 3 contracts, 5 contracts whatever.
Your point is something people have mentioned on the TST Facebook page and Michael Patak has said, if I recall correctly, that it is something that they are working on. (He never mentioned the exact reason though for the current limit, that is just my guess).

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
  #1165 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
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trendisyourfriend View Post
*Please Note: Micros products are considered full-sized lots in the Topstep program. For example, 1 lot in ES is considered the same as 1 lot in MES in regards to the Scaling Plan.[/COLOR]

I see you are allowing a person to use micro lots in your combine but i don't understand the logic in considering 1 ES the same as 1 lot in MES?


matthew28 View Post
Micros were added to the main Combine later, I think a little before the Covid crash, just as extra products if the people in the main Combine wanted to reduce risk, or have the option to trade them too.

... I imagine their risk management system which was originally created for the original Combine probably close to ten years ago now, was written to manage risk based purely on the number of contracts that were traded. There were no micros then so you just needed to be limited to 3 contracts, 5 contracts whatever.

Your point is something people have mentioned on the TST Facebook page and Michael Patak has said, if I recall correctly, that it is something that they are working on. (He never mentioned the exact reason though for the current limit, that is just my guess).

My guess is the same. I think it doesn't really make sense from the customer point of view, but that it would require some reprogramming to treat the micro contracts appropriately, as one-tenth of the regular eminis, and they haven't done this yet. The addition of the micros, but with the same contract limits, has a somewhat slapped-together feel, just getting them in there but staying within the existing framework so they were treated as if they were just another full-size contract.

The benefit is that customers can at least use the Combine to trade micros, and the downside is that they can't fully make use of their size to help control their risk. For example, in real trading, you could scale up your micro exposure so you had a percentage of a full emini contract size.... say, using 5 micros as the equivalent of half a full contract. You can do this, barely, in a Combine with a 5-contract size limit, but that would be your ceiling.

You have to assume they understand this, and I assume they will address it at some point. Odd that they haven't yet, but they have to decide on their priorities, and this may not be that important in the scheme of things for them.

I wonder if there will be a response in this thread from TopStep on the subject.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
  #1166 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746


trendisyourfriend View Post
Just visited your site and found this page describing the scaling plan:
In Step 2 of the Trading Combine®, your account will be evaluated against the Scaling Plan at the end of each trading day. As you build or lose equity, your buying power will increase or decrease based on your end of day P&L, according to the graph below:

*Please Note: Micros products are considered full-sized lots in the Topstep program. For example, 1 lot in ES is considered the same as 1 lot in MES in regards to the Scaling Plan.


I see you are allowing a person to use micro lots in your combine but i don't understand the logic in considering 1 ES the same as 1 lot in MES?

Hey there - The Risk Parameters on the trading platforms do not differentiate between a micros contract or other contracts. So as far as the Risk Parameters are concerned, a contract is a contract, even if micros are 1/10th the size of the minis. Let me know if you have any other questions. Thanks!

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  #1167 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, NQ, YM
Frequency: Daily
Duration: Minutes
Posts: 4,527 since Oct 2009
Thanks Given: 4,171
Thanks Received: 6,018


Topstep View Post
Hey there - The Risk Parameters on the trading platforms do not differentiate between a micros contract or other contracts. So as far as the Risk Parameters are concerned, a contract is a contract, even if micros are 1/10th the size of the minis. Let me know if you have any other questions. Thanks!

I thought position sizing was an important factor for a trader who wants to better control his risk. It's funny as when i want to limit my risk on a trade i use the concept of position sizing. I can assure you that 1 micro contract is not the same as 1 mini contract. But that's me.

  #1168 (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: 2,343
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bobwest View Post
You have to assume they understand this, and I assume they will address it at some point. Odd that they haven't yet ...

Indeed.


Topstep View Post
The Risk Parameters on the trading platforms do not differentiate between a micros contract or other contracts. So as far as the Risk Parameters are concerned, a contract is a contract, even if micros are 1/10th the size of the minis.

Please appreciate that I mention this with no sense of criticism implied, but simply with the same genuine puzzlement mentioned by others above.

I think the reason this question doesn't go away is that so many of your competitors (some of whom, we both know, are attempted "copies" of TopStep, some of them even to the extent of bulk-copying parts of your own longer-established website's text to their own much more recent sites!) seem to have found a way round this problem, whereas TopStep seems maybe either unable or at least unwilling to?

That puzzles me. (I get the sense that it also puzzles several other people asking about it both here and elsewhere?).

You can see that it's a real anomaly being able to trade a few contracts of ES, but not being able trade (let's say) 6 or 7 contracts of MES, equivalent to 0.6 or 0.7 lots of ES? For a start, it makes gradual position-size increases impossible for many ES traders to manage within TopStep's limits.

Is it possible that in this instance TopStep might manage to follow the lead of your competitors (rather than the more customary "other way round"!) and resolve this issue, please?

  #1169 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
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Posts: 8,162 since Jan 2013
Thanks Given: 57,344
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Topstep View Post
Hey there - The Risk Parameters on the trading platforms do not differentiate between a micros contract or other contracts. So as far as the Risk Parameters are concerned, a contract is a contract, even if micros are 1/10th the size of the minis. Let me know if you have any other questions. Thanks!

I think the point that is being made by your customers is that they know how the system treats all contracts as the same, but the fact is, in real trading, they are not.

So the issue is not how does your system operate as it does, but, why does it?

This is not meant as a negarive criticism, but the fact that TopStep is not dealing with this issue, and perhaps doesn't regard it as an issue that needs to be dealt with, is the reason that it keeps coming up.

I have a good feeling and a strong positive impression of TopStep from doing many Combines and having always-favorable experiences with the company and its excellent customer service. I do not understand this (sorry I have to put it this way) breezy and off-hand dismissal of a valid user issue.

A response that actually addresses the question, whatever the response is, would be much better. For instance, if you simply don't consider this important and if you say so, that would be a straightforward reply, although it may be discouraging to potential customers, which is your call. Or, if you plan to work on it, or have referred it to someone in the technical area, or have it on someone's to-do list, that would be fine. Or, if you have other priorities right now, or if it is technically difficult, or anything else that suggests that you have paid attention to it, any of those would be fine. Even if you haven't paid it much attention, but you will now, that would be fine.

But a non-response that indicates no concern is much less fine.

Again, I am a supporter and have been a booster of TopStep here for many years. I hope you will understand that I am not being critical, and also that your last response was not sufficient to address the real concerns among your customers and potential customers, in an industry that has many other competitors that people may turn to.

Thanks for any additional clarity you may give on this question.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #1170 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746



Tymbeline View Post
Indeed.



Please appreciate that I mention this with no sense of criticism implied, but simply with the same genuine puzzlement mentioned by others above.

I think the reason this question doesn't go away is that so many of your competitors (some of whom, we both know, are attempted "copies" of TopStep, some of them even to the extent of bulk-copying parts of your own longer-established website's text to their own much more recent sites!) seem to have found a way round this problem, whereas TopStep seems maybe either unable or at least unwilling to?

That puzzles me. (I get the sense that it also puzzles several other people asking about it both here and elsewhere?).

You can see that it's a real anomaly being able to trade a few contracts of ES, but not being able trade (let's say) 6 or 7 contracts of MES, equivalent to 0.6 or 0.7 lots of ES? For a start, it makes gradual position-size increases impossible for many ES traders to manage within TopStep's limits.

Is it possible that in this instance TopStep might manage to follow the lead of your competitors (rather than the more customary "other way round"!) and resolve this issue, please?


bobwest View Post
I think the point that is being made by your customers is that they know how the system treats all contracts as the same, but the fact is, in real trading, they are not.

So the issue is not how does your system operate as it does, but, why does it?

This is not meant as a negarive criticism, but the fact that TopStep is not dealing with this issue, and perhaps doesn't regard it as an issue that needs to be dealt with, is the reason that it keeps coming up.

I have a good feeling and a strong positive impression of TopStep from doing many Combines and having always-favorable experiences with the company and its excellent customer service. I do not understand this (sorry I have to put it this way) breezy and off-hand dismissal of a valid user issue.

A response that actually addresses the question, whatever the response is, would be much better. For instance, if you simply don't consider this important and if you say so, that would be a straightforward reply, although it may be discouraging to potential customers, which is your call. Or, if you plan to work on it, or have referred it to someone in the technical area, or have it on someone's to-do list, that would be fine. Or, if you have other priorities right now, or if it is technically difficult, or anything else that suggests that you have paid attention to it, any of those would be fine. Even if you haven't paid it much attention, but you will now, that would be fine.

But a non-response that indicates no concern is much less fine.

Again, I am a supporter and have been a booster of TopStep here for many years. I hope you will understand that I am not being critical, and also that your last response was not sufficient to address the real concerns among your customers and potential customers, in an industry that has many other competitors that people may turn to.

Thanks for any additional clarity you may give on this question.

Bob.

Thank you for your comments. I am discussing with our product team to get a better understanding, and will follow up. I'm aware others have this configured, but currently our risk parameters prevent us from doing so. I can say right now that our product team is researching the technicalities. Our top priority right now is launching our new brand, Topstep, so I may not have more for a few days. I will follow up as soon as I can.

Thank you!

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Last Updated on January 31, 2023


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