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Anybody heard of topsteptrader (review)
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Anybody heard of topsteptrader (review)

  #581 (permalink)
 Vendor: www.topsteptrader.com 
Chicago Illinois
 
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tortoise View Post
Ok...I did receive a call from TopStep but there was no message.

Tortoise,

Perhaps you are not getting your voice messages? I just left you another.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
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  #582 (permalink)
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Hoag View Post
Tortoise,

Perhaps you are not getting your voice messages? I just left you another.

Hoag

Thanks for the chat today and the very reasonable resolution.

To those stumbling onto this thread, insofar as I can see, there's nothing off-kilter about TopStep.

It's easy to jump to conclusions as they're are so many scoundrels out there. TopStep is not among them.

Thanks again, Hoag.

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  #583 (permalink)
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In my experience it's Glorified sim trading. They have all these little rules that anyone can trip over and boom funded account is over, back to combine.

They say 50k account (5 lots, they make you start with 2 lots and build up) but how much money is really in the account? How much are they investing in the funded traders? My guess is very little. You can trade a Es contract lot for $500 margin, 5 lots is $2500.

I mean don't get me wrong, it's a great business model for them.

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  #584 (permalink)
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ChocLab View Post
all these little rules that anyone can trip over and boom funded account is over.

This is true of live trading your own account as well.

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  #585 (permalink)
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ChocLab View Post
In my experience it's Glorified sim trading. They have all these little rules that anyone can trip over and boom funded account is over, back to combine.

They say 50k account (5 lots, they make you start with 2 lots and build up) but how much money is really in the account? How much are they investing in the funded traders? My guess is very little. You can trade a Es contract lot for $500 margin, 5 lots is $2500.

I mean don't get me wrong, it's a great business model for them.

That's what I don't get about the attraction of this. There is so much leverage available to the retail trader that it is insane. You don't need somebody else's money to trade. As for learning, you can get a Forex account and trade micro lots until you learn to trade. This keeps your losses small. Record your trades every day on a spreadsheet and you can track any statistics you want. Their rules are just simple math that can be put on your spreadsheet. Trading real money on Forex is better than a simulation.

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  #586 (permalink)
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jodistrict View Post
That's what I don't get about the attraction of this. There is so much leverage available to the retail trader that it is insane. You don't need somebody else's money to trade. As for learning, you can get a Forex account and trade micro lots until you learn to trade. This keeps your losses small. Record your trades every day on a spreadsheet and you can track any statistics you want. Their rules are just simple math that can be put on your spreadsheet. Trading real money on Forex is better than a simulation.

If you don't see attraction does it means the is no attraction ?

This year almost 300 live traders have seen attraction in TST and trading other people money.
TST simulation is not ordinary simulation. In regular simulation you can fool around.
In TST sim you have rules to follow. Also you have money as some like to call it skin in the game.
Amount of money you can decide starting as little as $95 per month and up to $375 per month.

From my experience I can tell that failing 10 combines in row is not good feeling.
It like loosing $950

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  #587 (permalink)
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lemons View Post
If you don't see attraction does it means the is no attraction ?

This year almost 300 live traders have seen attraction in TST and trading other people money.
TST simulation is not ordinary simulation. In regular simulation you can fool around.
In TST sim you have rules to follow. Also you have money as some like to call it skin in the game.
Amount of money you can decide starting as little as $95 per month and up to $375 per month.

From my experience I can tell that failing 10 combines in row is not good feeling.
It like loosing $950

For $95, you can get a ton of experience and not loose that much trading micro lots. More importantly, as you improve you start seeing small profits which is good for your self confidence. Trading real money, no matter how small is a valuable experience you can't get with simulation. And the rules are just formulas you can put on your spread sheet. The important thing is to learn how to trade. Once you learn to trade, you trade your own money. The whole point of this is to become your own boss.

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  #588 (permalink)
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nope haven't heard of them once

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  #589 (permalink)
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jodistrict View Post
That's what I don't get about the attraction of this. There is so much leverage available to the retail trader that it is insane. You don't need somebody else's money to trade. As for learning, you can get a Forex account and trade micro lots until you learn to trade. This keeps your losses small. Record your trades every day on a spreadsheet and you can track any statistics you want. Their rules are just simple math that can be put on your spreadsheet. Trading real money on Forex is better than a simulation.

This man knows what he is talking about.

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  #590 (permalink)
Market Wizard
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jodistrict View Post
For $95, you can get a ton of experience and not loose that much trading micro lots. More importantly, as you improve you start seeing small profits which is good for your self confidence. Trading real money, no matter how small is a valuable experience you can't get with simulation. And the rules are just formulas you can put on your spread sheet. The important thing is to learn how to trade. Once you learn to trade, you trade your own money. The whole point of this is to become your own boss.


ChocLab View Post
This man knows what he is talking about.

Two points on this:

1. I agree. (Although the Combine has something at stake, and pure sim does not.)

2. Different strokes for different folks. There are those who find it useful. If it works, fine. If someone feels differently and wants to go a different way, and that way works for them, also fine.

Whatever works, basically....

Bob.

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