Anybody heard of topsteptrader (review) - Vendors and Product Reviews | futures.io
futures io futures trading


Anybody heard of topsteptrader (review)
Started: by supermht Views / Replies:145,585 / 791
Last Reply: Attachments:26

Welcome to futures io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


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, and we will never resell your private information.

-- Big Mike

Reply
 26  
 
Thread Tools Search this Thread
 

Anybody heard of topsteptrader (review)

  #101 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,803 since Jun 2009
Thanks: 29,097 given, 81,377 received


karoshiman View Post
However, that is not the point (even if they say so). IMO it's just that they are selling you a dream... the chance to become a funded prop trader.

Please keep in mind, trading for a living is only a dream for most, in any aspect. This is not isolated to trading. Even if you want to open a small business in some other public sector, the fact is, most businesses fail. Just as most traders fail.

Let's not make this harder than it is:
- Do you need to be funded by someone else? Do you not have your own money, or don't want to risk your own money? OK, then maybe a prop shop is a good fit.

- The rules to pass the combine are laid out clearly. How about you use your platform on your own, and pass two or three of your own "combines" internally before you pay TST and make it official.

Trading is a business. Treat it like one. If you need to be funded by someone else, then take it seriously, pass the combine on your own a few times, then take theirs and get funded. The end

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 5 users say Thank You to Big Mike for this post:
 
  #102 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
Thanks: 1,796 given, 249 received


karoshiman View Post
The only thing that bothers me is that they say that even if all the formal requirements are met to become a funded trader, the scout team's review is still subjective and you can be asked to repeat the evaluation period. I hope that this is not designed as a loophole to screw people...


Big Mike View Post
- The rules to pass the combine are laid out clearly. How about you use your platform on your own, and pass two or three of your own "combines" internally before you pay TST and make it official.
Mike

The ET thread contains posts complaining of TST arbitrarily changing the rules during the combine period repeatedly to fail traders, and also of subjectively not passing traders who met all the requirements and passed.

Also it mentioned that you only get to make any profits, after you make a certain amount of profit cushion for them that they keep, ie first 10k. After this deferred capital is established, then you can start taking profits out of your split, and it sounds like they keep this amount if you leave, and this is common in prop shops, etc.

Reply With Quote
 
  #103 (permalink)
Trading for Profit
Munich, Germany
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Equity Index Futures
 
Posts: 285 since Apr 2012
Thanks: 121 given, 116 received



Big Mike View Post
Please keep in mind, trading for a living is only a dream for most, in any aspect. This is not isolated to trading. Even if you want to open a small business in some other public sector, the fact is, most businesses fail. Just as most traders fail.

Let's not make this harder than it is:
- Do you need to be funded by someone else? Do you not have your own money, or don't want to risk your own money? OK, then maybe a prop shop is a good fit.

- The rules to pass the combine are laid out clearly. How about you use your platform on your own, and pass two or three of your own "combines" internally before you pay TST and make it official.

Trading is a business. Treat it like one. If you need to be funded by someone else, then take it seriously, pass the combine on your own a few times, then take theirs and get funded. The end

Mike


I share the same view on trading and business and the comparison that you make between the two. In fact, I've explained to my friends and family why I've struggled so much with trading in my first 12-18 months by comparing it with starting a business. Most people expect starting a business to be very difficult in the first 3-5 years... and then (or earlier!) - as you say - many still fail.

The idea of trying the combine on your own is a great idea. Especially, if ones trading parameters are different to their requirements. For instance, as a swing trader getting sometimes only 3 trading signals per months, one has to find a solution to cater for the 10 trading days required in a 30 calendar day period.

Reply With Quote
 
  #104 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,803 since Jun 2009
Thanks: 29,097 given, 81,377 received


Futures Operator View Post
The ET thread contains posts complaining of TST arbitrarily changing the rules during the combine period repeatedly to fail traders, and also of subjectively not passing traders who met all the requirements and passed.

Also it mentioned that you only get to make any profits, after you make a certain amount of profit cushion for them that they keep, ie first 10k. After this deferred capital is established, then you can start taking profits out of your split, and it sounds like they keep this amount if you leave, and this is common in prop shops, etc.

I really don't want to get into what was said on ET. I prefer to not visit ET If you have questions about TST, you should contact TST directly. If you have used TST directly yourself, you should feel free to write a review in this thread and talk about your experience. If you do not want to use TST, then move on to another thread.

I talked to TST. They clarified:


Quoting 
Changes we made never effected any one who was currently in the Combine. The changes were made for future Combine review only.

The amount of cushion required to stay funded is as follows:
30k/50k account = $5k
100k/150k account = $10k

If for any reason the trader chooses to leave the funded account, the trader will take their full share of the cushion, which would range from 60-80% to the trader per their agreement with TST.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 7 users say Thank You to Big Mike for this post:
 
  #105 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,525 received

Futures Edge on FIO

Big Mike View Post
I really don't want to get into what was said on ET. I prefer to not visit ET If you have questions about TST, you should contact TST directly. If you have used TST directly yourself, you should feel free to write a review in this thread and talk about your experience. If you do not want to use TST, then move on to another thread.

I talked to TST. They clarified:



Mike

Mike is correct. The firm is on the up and up. If you can trade, you have a future there. I will be entering a
combine as soon as I can free up the time to complete it. It will be an excellent way to supplement my
personal account that I like to trade at the London open. They will be supporting NT soon, also, which is
another reason why I am waiting.

I will trade the TST account at peak volume times - US open. They frown upon weak volume and larger
spreads, which is logical.

I have researched them over a long period of time and trust them completely. I have one close friend who
completed the combine and was funded.

No worries.


AJ
Nashville, Tennessee


"Life On The Edge of SR"

Last edited by tderrick; August 22nd, 2012 at 01:52 PM.
Reply With Quote
The following 6 users say Thank You to tderrick for this post:
 
  #106 (permalink)
Elite Member
Wrocław, Poland
 
Futures Experience: Intermediate
Platform: NinjaTrader, Racket
Favorite Futures: Ockham's razor
 
gregid's Avatar
 
Posts: 651 since Aug 2009
Thanks: 321 given, 601 received

Regarding TST + Ninja, I couldn't listen to entire webinar, but did they confirm the deal with NinjaTrader and/or eventually provided some timeline?

Reply With Quote
 
  #107 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,803 since Jun 2009
Thanks: 29,097 given, 81,377 received


gregid View Post
Regarding TST + Ninja, I couldn't listen to entire webinar, but did they confirm the deal with NinjaTrader and/or eventually provided some timeline?

I'm encoding the webinar now, will post updates in that thread when it's ready for viewing:
https://futures.io/psychology-money-management/21828-webinar-topsteptrader-disci...patak-john-hoagland.html

Yes, Michael said NinjaTrader and Zen Fire are coming in a few months, I believe.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #108 (permalink)
Membership Revoked
Oslo, Norway
 
Futures Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,231 received

As I promised I would do so, I gave the combine a try. I'm sad to admit that I can't report on how it's like to become a live trader.

I actually stopped trading intra-day before the summer. I wanted to get out more (after a long period of illness) while the sun was still providing some warmth in this cold country. It was meant to be a vacation, but I think it's become permanent. I started as a swing trader, and my goal was to only day trade for a couple of years, in order to build up enough capital to swing and position trade more comfortably. I ended up becoming obsessed with short-term trading instead. After I went back to school, I grew more disenchanted with this kind of trading, as it felt pointless. I'm actually not half bad at it (if I'm allowed to claim such grandeur) , but I hate routine and I'm only truly happy when I'm learning something new. I went back to school to study financial mathematics, but I ended up being more attracted to the math and programming aspect of it and I'm now studying AI subjects instead. I must admit that I feel more relaxed when I can peacefully contemplate my trades, and I didn't really realize how much strain intra-day trading put on my mental state. I found it hard to trade for a few hours, then spend many more hours doing math -- my brain made me choose. For the first time since I started trading, I wasn't sufficiently focused to be able to execute quickly enough. It almost seems as if I was a willing victim of self-sabotage -- something I've rarely experienced in trading. Yes, I probably shouldn't have tried it by sporadically trading during my summer break. I also don't find the T4 platform very intuitive, I traded max size (even though I, on average, need a cushion of 40 ticks per contract per day), and I've never been good at following rules or being evaluated, but I thought I had enough of Chopper in me to harden up sufficiently (Ronnie Johns - Chopper - Harden Up). Apparently, I don't...

I apologize for the long post, but I guess my ego wouldn't allow me to proclaim that I failed, without trying to justify it.

I should point out that nothing of the above excuses my subpar performance, because I, unlike many other posters, am not afraid to admit when I fail. I fully claim responsibility for my shameful display. Thus, I think the following is the only honorable thing to do:

Hi, my name is @Lornz. I am a recovering day trader, and I failed the combine.


Last edited by Lornz; September 7th, 2012 at 05:17 AM. Reason: I've been fasting for 26 hours; I'm a bit dizzy.
Reply With Quote
The following 11 users say Thank You to Lornz for this post:
 
  #109 (permalink)
Elite Member
Reno, Nevada
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: ZN, ZB, FDAX
 
phantomtrader's Avatar
 
Posts: 126 since May 2011
Thanks: 6 given, 194 received


Lornz View Post
As I promised I would do so, I gave the combine a try. I'm sad to admit that I can't report on how it's like to become a live trader.

I actually stopped trading intra-day before the summer. I wanted to get out more (after a long period of illness) while the sun was still providing some warmth in this cold country. It was meant to be a vacation, but I think it's become permanent. I started as a swing trader, and my goal was to only day trade for a couple of years, in order to build up enough capital to swing and position trade more comfortably. I ended up becoming obsessed with short-term trading instead. After I went back to school, I grew more disenchanted with this kind of trading, as it felt pointless. I'm actually not half bad at it (if I'm allowed to claim such grandeur) , but I hate routine and I'm only truly happy when I'm learning something new. I went back to school to study financial mathematics, but I ended up being more attracted to the math and programming aspect of it and I'm now studying AI subjects instead. I must admit that I feel more relaxed when I can peacefully contemplate my trades, and I didn't really realize how much strain intra-day trading put on my mental state. I found it hard to trade for a few hours, then spend many more hours doing math -- my brain made me choose. For the first time since I started trading, I wasn't sufficiently focused to be able to execute quickly enough. It almost seems as if I was a willing victim of self-sabotage -- something I've rarely experienced in trading. Yes, I probably shouldn't have tried it by sporadically trading during my summer break. I also don't find the T4 platform very intuitive, I traded max size (even though I, on average, need a cushion of 40 ticks per contract per day), and I've never been good at following rules or being evaluated, but I thought I had enough of Chopper in me to harden up sufficiently (Ronnie Johns - Chopper - Harden Up). Apparently, I don't...

I apologize for the long post, but I guess my ego wouldn't allow me to proclaim that I failed, without trying to justify it.

I should point out that nothing of the above excuses my subpar performance, because I, unlike many other posters, am not afraid to admit when I fail. I fully claim responsibility for my shameful display. Thus, I think the following is the only honorable thing to do:

Hi, my name is @Lornz. I am a recovering day trader, and I failed the combine.

Hi Lornz - Good post. And don't feel bad. At least you analyze your results honestly and know what areas to work on if you decide to go forward with your trading.
I didn't do well with the Combine either and it was mainly due to the T4 platform. My strategy requires a lock-in of small profits fast several times each 2 ticks apart and moving the stop as soon as the profit is locked in with the runners managed manually. Couldn't do it on the T4 - too slow, too inefficient - a big mess. I understand TopStep will offer Ninja in about a month. This could make a tremendous difference to results because you can design templates for the DOM and execute your setup with one click.

Good luck to you and thanks for posting your results.

Reply With Quote
 
  #110 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,525 received



phantomtrader View Post
Hi Lornz - Good post. And don't feel bad. At least you analyze your results honestly and know what areas to work on if you decide to go forward with your trading.
I didn't do well with the Combine either and it was mainly due to the T4 platform. My strategy requires a lock-in of small profits fast several times each 2 ticks apart and moving the stop as soon as the profit is locked in with the runners managed manually. Couldn't do it on the T4 - too slow, too inefficient - a big mess. I understand TopStep will offer Ninja in about a month. This could make a tremendous difference to results because you can design templates for the DOM and execute your setup with one click.

Good luck to you and thanks for posting your results.

Yes... I believe when Ninja is implemented, we should all give it a whirl... Can you have TOO MUCH money to trade??


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Reply With Quote

Reply



futures io > > > > Anybody heard of topsteptrader (review)

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Spring Grains Outlook w/Sean Lusk @ Walsh Trading

Elite only

FIO Video Journal Challenge featuring NinjaTrader ($2,000+ of prizes)

April

Process above all else w/Anthony Crudele @ Futures Radio Show

Elite only

Machine Learning - Quantitative Trading w/Martin Froehler @ Quantiacs

Elite only

Market Dynamics w/Peter Davies @ Jigsaw Trading

Elite only

Ask Me Anything w/Patrick Rooney @ Trading Technologies

Apr 18

Ask Me Anything w/FuturesTrader71

Apr 19

Machine Learning w/Kris Longmore

Elite only

Market Analysis w/Dave Forss

Apr 25

Introducing iSystems with Stage 5 Trading

Apr 27
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Have you heard about XYZ? Lornz Vendors and Product Reviews 20 February 1st, 2017 06:03 PM
Webinar: TopstepTrader on Discipline/Psychology (Michael Patak and John Hoagland) Big Mike Psychology and Money Management 24 July 1st, 2016 11:45 PM
Webinar: Topsteptrader on Discipline and Risk to be successful Big Mike Psychology and Money Management 16 June 10th, 2014 01:45 PM
Has anyone ever heard of invest33.com? energetic Vendors and Product Reviews 14 October 21st, 2013 05:12 PM
Anyone heard of EOTPRO? h4cked Vendors and Product Reviews 31 December 5th, 2012 03:25 PM


All times are GMT -4. The time now is 06:52 AM.

no new posts
Page generated 2017-03-27 in 0.16 seconds with 20 queries on phoenix via your IP 54.211.169.76