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As an update, I'm currently taking the TST combine. I took advantage of a free coupon. So far no real issues. I trade all the trades live in my Tradestation account. The TST fill engine is definitely slightly optimistic (easier then real-life) but on several days my actual profits are higher in the TS account due to reduced fees and/or because I always give priority to my real-money trades.
I do think the combine is a much more realistic goal now that they reduced a lot of the silly rules and the time limit. Not really sure about the FTP and that's one reason I still think that if OneUp launches they could be the better deal. You pass you go live. That's simple and makes sense. If you want to limit the risk during the live stage then implement a contract scaling for the first couple weeks. The trailing loss limit could still present a lot of difficulty. Also, the weekly loss limit is equal to the daily loss limit which is again probably not something you'd do in a real account. So, you have to figure in that your real daily max risk should be at most 50% of the stated.
I think the combine might be worthwhile for (1) someone who has a vision of scaling up and trading a lot of contracts or who has a sub 10k account or (2) doesn't have enough to trade and wants to pay for the combine and get the data (the combine is not as expensive if you are subtract the cost for a data feed from the equation) (3) for vendors who want to demonstrate an ability to trade with very tight risk limits. I did see the data lagged between either TS and TST at one point but not sure which stream was lagged.
On the other hand, it is much more difficult to trade with super tight risk limits and the fragility is probably higher. Even if one can be pretty sure they can predict the market with larger risk limits, there is an uncertainty factor once you apply the really tight risk limits. I guess the issue with TST, OneUp, SMB CAP, or any prop would be: (1) How aligned are their interests with the traders interest? (2) How viable is the concept? and (3) How much money can you make?
I guess you didn't notice the new condition one up put in. You have to trade in a consistent way to get funded, whatever that means, or they will refund you the combine fee. So it's no longer pass the combine and get funded, it's now pass the combine and hope they like how you trade to get funded.
Yep, that's the crux of working for another: always at whim of policy and why it's always better to have your own capital to trade. Frankly, though I can't blame them for that but that's why it would be useful for these firms to show what their best traders are doing and that they have some support mechanism. My sense is that stock props have more six figure traders but many trading floors are now mostly empty. So, hard to say what's possible in today's markets.
1) wtf does consistent mean in this context. Could mean anything - good one oneuptrader. I have a feeling it will quickly turn into a MES capital sort of nonsensical selection.
2) this is like the fourth time they've delayed entry into the market. Hoping they're not going to crash and burn but it sure seems that way, especially if traders hit the parameters and still are not funded.
1) Consistent probably means that they wont accept traders who make 100% of the target in 2-3 day's and then only open and close a trade within seconds for the remaining day's. I have seen a few combines at TST where this happened, if this is allowed then why even have the minimum 10 day rule anyway.
2) They told me they will launch next week, the reason they couldn't launch at the end of May is because they had to wait for Ninjatrader to finish their integration.
To make it clear, i do not work for OneUp!
Just happy to finally see some competition for TST and for now the OneUp rules seems to be "easier".
When I see those Combines I always find it a bit strange. People aim to get funded to make money, not hit a target then stop. If you are in effect admitting that you can't risk trading 'properly' for ten days in a row without messing up and risking not passing then what is the point of in effect fluking your way through.
Funded Trader Prep at least means somebody has to repeat their performance and prove a degree of consistency and help with confidence in your methodology before going live; and for TST weeds out those who just got lucky.
People used to say that MES were better because they didn't have the rules that TST have. In reality the difference seemed to be that where as the TST rules were objectively set out for all to see, The MES ones were subjective and passing or failing seemed more discretionary, as @Raider had said (and also based on a the few reports I read of people trying out with them). I hope OneUp learn from that and have more clearly defined rules.
Thanks RDK91 yeah that makes a lot of sense. For what it's worth I genuinely hope they do follow through this time because who knows what could happen with more competition.