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This, for many of us, I suspect, is the bottom line, here.
I was all ready to start a Combine on 1st September, but this thread and Topstep's lack of any response to it have really left a horrible taste in my mouth. I suppose @andrej is right, really, and there's no point in going on about it, but I've been both surprised and dismayed at Topstep turning out to be a company that doesn't honor its end of an agreement after someone's paid.
I really thought better - actually much better - of them than this.
To be honest, this thread doesn't surprise me. I think most of these companies that offer trading combines and funded accounts are BS that prey on fledgling traders' desire to trade for a living.
The only way to trade for a living is to go through the iterative crucible of (1) self-directed learning (books, videos, blogs, etc). -> (2) making mistakes -> (3) learning from those mistakes -> (4) repeat.
I am a successful intraday /ES trader, on my own account. However when I tried Evaluations, I failed repeatedly. For some people, maybe most people, these evals are quite difficult. I have experience with TopStep and I feel very positive towards them btu that is just an opinion. I engaged a different prop firm that was open about the fact that the Live account was still Sim. They reserve the right to copy or not copy one's trades. My first reaction was this is bad. They will want me to fail.
Then I thought about it from a funding investor point of view. Most traders fail. So why not take the risk and be the simulated exchange. Once you see a trader have consistent success then copy (live place) their trades. Maybe even add some scale in the copy, if you have a good trader. If I was a funding investor, I could easily look at trading patterns and see who "got lucky" and who executed well with good risk control and scaling. So, does this prop firm want successful traders? YES. However they can't tell who is good and who will fail until they place many trades.
To me, it can work both ways. A Prop firm can maintain the option to place the trades (copy) or take the risk of being the simulated exchange. Frankly, I think it would be fun to be a funding investor. When I find a good trader, I would be thinking about how to keep them instead of how to not pay them.
I researched the 5 or so firms. I think TST is good, and I like one or two others. I think some have rules that in my opinion are a little too "gotcha".
My advice to the poster:
1) This negative event nothing in the scope of your trading career.
2) Either take the Pro acct from TST or not, and consider the topic closed.
3) Consider an alternate option. I am in an UprofitTrader eval now. Very similar to TST. Maybe a little more freedom but thin difference. No data fees....because the live account is still Sim. UprofitTrader has been very responsive to my questions. you won't find any community or education that exists in TST.
Although (so far) I have failed several evals, the tight risk control has made me a better trader in my personal accounts. The money I spent with TST was money well spent, and I did not experience any loss of my capital.
I've never tried a Combine (or any equivalent, from any of Topstep's competitors). I've just been following people's Journals with interest, and have been postponing trying one until I knew I'd have enough time available to be able to give it a serious attempt.
I've put a lot of effort into studying and analysing both the rules and the terms and conditions of "these funding companies" (there are at least 30 of them about, now), and I thought Topstep certainly looked among the most honest and reliable two or three of them I could find ... until reading about Anna's experiences in this thread.
But I have no experience to share - sorry. I was just a potential/intending customer; I'm not a previous/experienced one.
Michael Patak, the Founder of TopstepTrader, will be monitoring this thread so that he may answer any questions that you post here relating to TST products and services.
Please keep in mind that some customer service/technical support issues are best …
Orianna Foucault, Director of Support and Candidate Relations at Earn2Trade will be monitoring this thread so that she may answer any questions that you post here relating to Earn2Trade's products and services.
Please keep in mind that some customer …
Thanks.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I posted several years ago they were bad actors not acting in good faith . I stated when they come across a trader that can trade their not going to give him any prop account . he can get that most any where . The trader will be introduced to the educational side of the business . Selling trading education and trader stuff was there business model not any prop trading . I was bombed instantly by top step shields and other members drinking the top step cool-aid . Anyone sell trading education should be considered a deep hole in the ground with a liar at the bottom of it . that will save a lot of money and pain .
