Without wanting to get into controversy, a couple of thoughts:
1. There are not really all that many TST rules, nor are they all that complicated. Really. A person may legitimately disagree with them, but it is not hard to keep track of them.
2. They do put some requirements on traders that some would not want to accept, based on their trading styles and methods. Obviously, in that case the trader should not accept them.
3. If you think someone is going to rip you off by suckering you into paying a lot of fees for their Combines, then the right thing to do is stay the hell away from them.
I'm not picking a fight. I'm just saying, if you don't want to do it, then don't. It's a free country.
Some other people add things up differently, and think it works for them. There's no point, any more, in going over the pros and cons for the five hundredth time.
Everyone should make their own decisions and do what they want, which is what they are going to do anyway. What works well for one person may be terrible for another. Hopefully we will be willing to be responsible for the choices we make, and learn from the good ones and the bad ones.
Making TST either a villain or a savior is irrelevant. Use it or don't; it's a choice. Make it according to your own ideas of how you want to trade and what makes sense to you.
The following 13 users say Thank You to bobwest for this post:
If you think that TST rules are stacked against you - just try winging it in a cash market with disregard for some of the rules. Then you will find that things are REALLY stacked against you.
TST provide infrastructure, that you have to pay a little bit of money for , to show them what you've got. The rules that they have are based around capital protection at almost all costs. No heroics allowed. If you don't want to .. or haven't got it .. then ... look the other way.
I would say that the general philosophy behind the rules is 100% in line with every valuable contributor or post I've read on BMT ... ahem .. I mean Futures.io in the past few years.
I'd like it if they opened the Combine to EUREX products ....even if they were not going to fund you in that instrument... just for training purposes.
The following 3 users say Thank You to podski for this post:
I read this whole thread and followed a lot of the controversial points about the TopstepTrader program, often mentally siding with the 'con' side. In the end I weighed up both sides and decided that it still offered a lot of benefits.
I was right, the only devils I face are all mine, not any of their rules and the support they have provided has been great. I'm getting a lot of hard-knock lessons at very low cost, and I trade cash in CFD/spreadbet accounts so I know how that all compares too.
I have no idea whether I will pass a combine, but I do know why I picked the one I did and what I wanted out of it, and it hasn't let me down.
If you don't like the shop then don't shop there - but don't knock something for the sake of it.
The following 10 users say Thank You to ratfink for this post:
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.
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The following 2 users say Thank You to Big Mike for this post:
Thanks Bob. This opens my eyes to a specific aspect that I wasn't thinking about. Which is actually pretty neat.
The bottom line is this Ė if you donít maintain a level of consistency in what you do, you will never be able to make the progress and achieve the results you desire. This is why so many successful traders talk about the importance of consistency in approach as that has often made all the difference between their success and failure.