Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Anyway, the time issue as described above will remain, respectively increase if there would be no option to negotiate another rule regarding the trading days (which I didn't know as of now).
That sounds interesting, thanks for clarifying...
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
...Even slower (if possible at all) in the evenings, even around pit close...
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Looking forward to hearing the details of this. From doing the maths behind each combine in terms of required average daily profit and risk:reward in relation to allowed position sizing, the 30k combine is the clear winner.
The problem comes when you move to LTP and live status, you're generally only allowed to trade 1 contract. This wreaks havoc on your trading if you've specifically designed the way you trade to incorporate scaling out. You've built your whole methodology around scaling out, risk:reward etc. Then you pass the combine and the maths behind your methodology no longer works because you cant scale out. No problem if you're methodology doesn't require scaling out as part of your risk:reward calcs, but if they do then you're in trouble.
It would therefore be great to have the other combines more in line with the 30k just purely from a profit objective and risk:reward in relation to position size perspective. At least then you'll know if you pass a combine based on a scale out strategy, you will at least be able to trade a 2 lot and not need to change anything in ltp/live. Will keep an eye out for more details.
Let me just clarify before I get in trouble. Firstly, from my understanding most things are negotiable with TsT. However, one resounding theme of those that go to ltp and live are that they have to cut their position size. This is not a bad thing. It's so you learn to build up the account slowly and dont blow out in a few days. Fair enough.
If you're trading a large combine, then you may be required to reduce your position size down to 2 or 3 contracts to start. Then you can add more as you grow the account. However when it comes to the 30k combine because you can only trade 3 contracts anyway, reducing your position size means going to a 1 lot. So far i've only heard of 1 person who was allowed to trade more than a 1 lot after passing the 30k.
So with that in mind, I personally find the 50k very appealing because you might only be required to reduce your position size down to a 2 lot, so you can continue scaling out. However the maths with the 50k in relation to the 30k are not as good in terms of risk:reward and profit objective in relation to position size.
Just thought id add that, in case you thought I was talking about all the combines. Im specifically talking about the 30k, and that the VAST majority (but not all) are made to trade a 1 lot after passing which completely screws with those who rely on scaling out. If they change the requirements of the 50k, Ill certainly be looking at it as an option.
I guess we're going to have to wait for @TopstepTrader to weigh in on this, but until Michael sees this, I just went over to their web site, and according to it, if you passed a 30K Combine, your max position size as a Junior Trader is still 3 contracts:
Perhaps they modify that for individual traders, and perhaps it's different for LTP, but I always understood that you could trade on the same basis as the Combine you passed.
I could certainly be wrong, and it sounds like @DarkPoolTrading has familiarity with actual people's experience. Thanks for bringing this up.
I hope MP will step in and clarify the policy and the practice.
I have heard that they tighten the rules in the LTP buy this I mean you have to go to BE after an x amount of ticks in profit etc and I think that this behavior can influence your trading negatively.
It is like topstep is after your initial deposit and not looking for trading talent.
Maybe topstep can post the trading rules in the LTP here and please do not come with the answer that the rules are different for traders with regards to the outcome of the combine!