Another reason is that many firms simply are not willing to expose themselves to overnight or weekend risk. As a firm, they are flat at the end of the day. This is pretty common for prop firms, especially in Chicago. It comes down to how a firm chooses to do its risk management. It sounds like Topstep likes to generate their reports, review at end of day and go from there. That's their choice.
The following 4 users say Thank You to ValueFocused for this post:
You cannot hold trades overnight but it does not mean you cannot initiate a trade in London session. I have friends who are funded with Topstep and they regularly trade London session, they just make sure they close their positions by 3 pm CST.
I confirmed this with one of their reps too.
The following user says Thank You to NGtrader 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.
If you want to support our community, become an Elite Member.
The following 8 users say Thank You to Big Mike for this post:
Yes. There is a difference between holding a trade into the close and reopening a position after the open. But I know we can trade during anytime of the day. As long as you close positions before the close of the market, there is no restrictions and when you dont hold beyond the close, it is still an Intraday trade and you still get Intraday margin advantage by the broker. I trade Asian, London and US markets courtesy of my current co-ordinates, India.
reading this TST looks like it is in the business of collecting money from hopeful 'traders' who either live in a developing country , or whose school allowance doesnt pay enough to open a real account?
I can't see any reason to join them unless someone was utterly broke? seems a fishy business.