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:138,539 / 751
Last Reply: Attachments:25

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
 25  
 
Thread Tools Search this Thread
 

Anybody heard of topsteptrader (review)

  #501 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, CL
 
Posts: 3,566 since Jan 2013
Thanks: 25,636 given, 10,812 received
Forum Reputation: Legendary


Turveyd View Post
Monthly fee and $100 to restart a combine any time you like I read it as, $150 +2 restarts $200 in a month this could get silly.

Of course until we know of 1 real verifiable person that's made $1 off TS I wouldn't get too excited personally.

I'm always a little surprised by this kind of comment, to the effect that no one has verifiably made any money with TsT, and look at how high the fees are. Must be a scam, or something. (Not trying to jump on you, @Turveyd, or anyone else, just saying that there's another view that's supported by the evidence.)

I'm not going to mention any names, because it's not for me to drag other people into the conversation without their knowledge and their OK. (I realize that some people will laugh and say, "That's because there aren't any.") But in fact there have been quite a few former and present posters on futures.io (formerly BMT) who have done just that. Some currently trade actively with TsT. Some have been quite prominent as futures.io (formerly BMT) posters.

Old hands who read other peoples' posts will have come across them.

Do I think there are just a whole bunch of happy little TsT'ers who are making big bucks trading with them? Hell, no. I don't think there are many posters on futures.io (formerly BMT), or anywhere else, who are making any bucks at all trading short-term, high leverage markets. (Or long-term, low leverage markets either.) I don't think there are many who are or have been trading live at all, much less profitably. That's how the percentages break out, all over.

I think they do what they say they do: hire traders for what is simply a prop firm, if they can show they can trade according to the rules TsT wants its traders to use. Most can't. Most won't get hired. Most won't be profitable on their own either. I am sure that some will be profitable trading very differently, and don't want to trade TsT's way because it doesn't suit their methods. That's cool. Whatever works.

So basically, people who want to try this path can do it, people who don't, don't have to. Maybe it is a scam, after all. Maybe it isn't. You pays your money and you takes your choice. But are there people who have done it? Yes. They post sometimes on this forum, too.

I don't mean this as a negative comment, and if it seems a little edgy to anyone, I apologize for it. That's not any part of my intention. I just wanted to get another viewpoint out there, and to point out that, yes, we do know people who have done this.

Bob.

Reply With Quote
The following 6 users say Thank You to bobwest for this post:
 
  #502 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, CL
 
Posts: 3,566 since Jan 2013
Thanks: 25,636 given, 10,812 received
Forum Reputation: Legendary


deaddog View Post
With a continuous combine you either pass or fail. Is there a roll over if you are profitable but don't reach the profit target?


tturner86 View Post
I believe as long as you finish net positive (and don't break the other rules) you qualify for a roll over. (Forgive me if I am wrong).


msull35706 View Post
My 3 cents on that....

Being that it's a continuous combine, I'm 99.9% sure it's Pass / Fail....
That's both good and bad.
So I'm assuming no FREE rollovers.....
So be patient, keep losses small, and get your Consistent Profitability north of 70%...

Mike S.


futuretrader View Post
Rollovers are about getting your deposit back at the end to try again. In a continuous combine there is no deposit and no end, so no rollover involved. It's strictly pay as you go, month by month.

Got a reply to my email to TsT asking whether there is a rollover for the continuous Combine:

"There are no rollovers for the Continuous Combine. Since you have an unlimited time to achieve the Combine Objective, you would want to continue trading in the Combine account until you reach the profit target in order to be funded.

If you have any further questions, please let me know.

Best,

Erika"

So there we have it. Not a real surprise, is it?

Bob.

Reply With Quote
The following 3 users say Thank You to bobwest for this post:
 
  #503 (permalink)
Elite Member
Saratoga, NY USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL, GC
 
Posts: 377 since Aug 2010
Thanks: 141 given, 789 received

TopStep cont combine....


Many thx Bob on your follow-up.
Of course if you have exceeded your daily or overall drawdown loss levels, then you'd need
to fund a new one.
I feel this is great option and take pressure off on needing x amount each day on 10/20day combine to achieve.
Still need to work on a Consistent Profitability model of at least 70% or greater in most cases to be successful
in day trading... especially if you scalp like myself on trying to reach $100/day per contract...

Mike S.

Reply With Quote
The following user says Thank You to msull35706 for this post:
 
  #504 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, CL
 
Posts: 3,566 since Jan 2013
Thanks: 25,636 given, 10,812 received
Forum Reputation: Legendary

Here's something I did not expect about the new continuous Combine and rollovers:

New email to support:

"Another question: if I get a rollover in my current 10-day Combine, can I roll over into a continuous Combine, without the first month's fee (obviously, I would have to pay all the others), or do I need to also put up the initial continuous fee?"

Reply:

"That is a great question. Yes, you can rollover into a Continuous Combine where your first month is free.

Best,

Erika"

I had just assumed they were a totally different breed of cat, but with this, you can at least roll into them. Good to know.

Bob.

Reply With Quote
The following 2 users say Thank You to bobwest for this post:
 
  #505 (permalink)
Trading for Profit
Birmingham UK
 
Futures Experience: Intermediate
Platform: Meta + TradeInterceptor + FXCM
Favorite Futures: DAX ( GBPAUD if moving )
 
Posts: 336 since May 2014
Thanks: 7 given, 63 received

Futures Edge on FIO

bobwest View Post
Got a reply to my email to TsT asking whether there is a rollover for the continuous Combine:

"There are no rollovers for the Continuous Combine. Since you have an unlimited time to achieve the Combine Objective, you would want to continue trading in the Combine account until you reach the profit target in order to be funded.

If you have any further questions, please let me know.

Best,

Erika"

So there we have it. Not a real surprise, is it?

Bob.


Can't find the $100 restart any time fee, maybe I dreamt that ??


Remember, they could still refuse you even if you smash the profit target and pass all the rules, odds are they wouldn't like my unusual but very effective trading style.

But it's tempting to try, cause there no other way to tell at this point, not a lot of $$'s for a potential huge return ( I bet they make mega bucks off these cause of this ), I should be able to make trading YM and ES say $300 per day (conservative figure ), 3 days per week, so $2400 per month for me, basically it would pay my way and stop me having to dip into my account.

I'd also have to learn a new trading environment and couldn't trade via Ipad Mini like I do currently ( well remote access into PC at home, or Laptop )


Can't decide, be a lot happier if it was an instant, you qualified, here is an account go make us money.

Can I setup that above as a custom combine rule ??

Reply With Quote
 
  #506 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, CL
 
Posts: 3,566 since Jan 2013
Thanks: 25,636 given, 10,812 received
Forum Reputation: Legendary


Turveyd View Post
Can't find the $100 restart any time fee, maybe I dreamt that ??

Nope:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


My understanding is that when you "reset," it just wipes out your losses and you start back at zero; I don't know if it resets your every-30-day payment schedule. That would have to be checked; I'm no expert.


Turveyd View Post
Remember, they could still refuse you even if you smash the profit target and pass all the rules, odds are they wouldn't like my unusual but very effective trading style.

Yes, they do reserve the right, I believe, but in actual practice what I have seen them do is ask a trader who passed the Combine but wasn't as consistent as they liked to do a "Live Trader Prep," which is essentially a free Combine with somewhat relaxed profit target.... mainly, I understand that it's to make sure the trader can handle his losses well when the profit pressure is lessened. At one point, mp said that LTP was about 50-50, in terms of whether they ask for it. When they announced the Continuous, one thing they said was that the need for LTP probably would be less, since, with more time to evaluate a trader, they would have a better feel for his consistency.


Turveyd View Post
Can't decide, be a lot happier if it was an instant, you qualified, here is an account go make us money.

Can I setup that above as a custom combine rule ??



At a minimum, people say it takes a couple of weeks to set up the account (not sure why, but I guess there is paperwork to go through.)

Bob.

Reply With Quote
 
  #507 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, CL
 
Posts: 3,566 since Jan 2013
Thanks: 25,636 given, 10,812 received
Forum Reputation: Legendary


Turveyd View Post
But it's tempting to try, cause there no other way to tell at this point, not a lot of $$'s for a potential huge return ( I bet they make mega bucks off these cause of this ), I should be able to make trading YM and ES say $300 per day (conservative figure ), 3 days per week, so $2400 per month for me, basically it would pay my way and stop me having to dip into my account.

One more thing. I strongly suggest starting off with a Combine that has a fairly low profit target, and using fairly low leverage (number of contracts). I have seen a lot of Combines being blown up, including by experienced traders, if they swung too hard for the big returns at first.... Those loss control rules surprise people sometimes, if they haven't been that hard-assed about controlling their losses in the past. (Me, for instance )

Bob.

Reply With Quote
The following user says Thank You to bobwest for this post:
 
  #508 (permalink)
Trading for Profit
Birmingham UK
 
Futures Experience: Intermediate
Platform: Meta + TradeInterceptor + FXCM
Favorite Futures: DAX ( GBPAUD if moving )
 
Posts: 336 since May 2014
Thanks: 7 given, 63 received


bobwest View Post
One more thing. I strongly suggest starting off with a Combine that has a fairly low profit target, and using fairly low leverage (number of contracts). I have seen a lot of Combines being blown up, including by experienced traders, if they swung too hard for the big returns at first.... Those loss control rules surprise people sometimes, if they haven't been that hard-assed about controlling their losses in the past. (Me, for instance )

Bob.

Haven't got the time at the moment, but if the client will leave me alone for a few days to make some $$'s, then I'll have loads of time as they'll be looking for a replacement ME, which won't be easy.

Thanks for finding the $100 restart bit, I'm not going crazy, and no idea only got the info posted here.

Reply With Quote
 
  #509 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Siera Chart, Market Delta, Esignal, FXCM, R trader Pro
Favorite Futures: ALL- Futures, Forex, Equities
 
TopstepTrader's Avatar
 
Posts: 202 since Feb 2013
Thanks: 45 given, 621 received

[Company Update] 74% drop in Commissions

All,

We're committed to helping traders succeed, and one of the biggest obstacles is "the cost of doing business." So, we've forged a partnership with NinjaTrader Brokerage to significantly LOWER COMMISSIONS ACROSS THE BOARD, which will go into effect immediately (starting September 8, 2014) for all Combine (currently active and new accounts) and Funded Trading Accounts.

These industry low commissions are ALL IN, so you don't have to calculate exchange fees, regulatory fees, platform fees, FCM fees, IB fees, and any other fee under the sun.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


*The commission rate example displayed above is for new Funded Traders who own a NinjaTrader lifetime license and are using the Rithmic data feed, trading ES. Click here to view Funded Trader's commission and fee structure for all platforms and NinjaTrader license levels.

For example, as a Funded Trader trading the ES, under the old structure, if you traded 100 contracts (50 RT), you would have paid $417 in commissions and fees. Under the new structure, you will pay only $184. For every 100 contracts you trade, that's an additional $233 in savings!

We look forward to seeing how the lower commissions and fees help your trading and profitability! If you have any questions, please contact support@topsteptrader.com or 888.407.1611.

Trade well,

The TopstepTrader Team

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the BMT "Ask Me Anything" thread.
Reply With Quote
The following 5 users say Thank You to TopstepTrader for this post:
 
  #510 (permalink)
Elite Member
Erie,Pa
 
Futures Experience: Beginner
Platform: Ninja, Oanda
Broker/Data: Oanda-practice demo
Favorite Futures: GBP/AUD...wild ride
 
missionatsea's Avatar
 
Posts: 45 since Apr 2014
Thanks: 95 given, 34 received


TST is a company in search of profit just like any other. They understand 90% (or greater) of participants will donate their deposit. On the other hand, considering data feed costs, a reasonable rate to trade real time with the continuous plan as the platform feed continues until cancelled. The feed for the 10 day combine ends on the 10th trading day.

I would like to see a platform/brokerage offer a pay for real time simulated account, at a nominal fee, so that I can work on strategies, build my plan, and without committing to an account. 14 day free trial periods pass so quickly and not a fan of market replay. TST, so far, has come the closest to what I am looking for. Real time data to train on is all I ask. Of coarse, could dive into the real fire !!!

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)
 

Anthony Drager: Pulling the trigger with confidence

Elite only
 

Leo Murphy: The Art and Science of Technical Analysis

Elite only
 

FuturesTrader71: Ask Me Anything

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Have you heard about XYZ? Lornz Vendors and Product Reviews 19 December 29th, 2016 02:31 PM
Webinar: TopstepTrader on Discipline/Psychology (Michael Patak and John Hoagland) Big Mike Psychology and Money Management 24 July 2nd, 2016 12:45 AM
Webinar: Topsteptrader on Discipline and Risk to be successful Big Mike Psychology and Money Management 16 June 10th, 2014 02:45 PM
Has anyone ever heard of invest33.com? energetic Vendors and Product Reviews 14 October 21st, 2013 06:12 PM
Anyone heard of EOTPRO? h4cked Vendors and Product Reviews 31 December 5th, 2012 04:25 PM


All times are GMT -4. The time now is 08:37 PM.

no new posts
Page generated 2017-01-22 in 0.17 seconds with 20 queries on phoenix via your IP 54.205.13.200