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)
Nick welcome to the group. Top Step does provide a service, and I am not totally against it, more the prop industry as a whole.
That said I do have some questions for you.
1st your max trailing drawdown, is that calculated by realized or unrealized pnl?
Sody
"The great Traders have always been humbled by the market early on in their careers creating a deep respect for the market. Until one has this respect indelibly engraved in their makeup, the concept of money management and discipline will never be treated seriously."
Can you help answer these questions from other members on NexusFi?
Hi,
I would like to know what happens in a scenario like this..
Lets say someone did a Combine and goes thru step 1 and 2...
Well, after a while his/her account is up to 20k and one day some rule has been broken and his/her account is gone.. not able to trade anymore. For the sake of simplicity lets say the account after this has 15k..
Is that scenario possible? and What happens to that balance/profit?
I am really sorry if I could not make myself clear.. english is not my native language.. if you need further clarifications just point out and I will try to explain in other words..
Thank you in advance
The Trailing Max Drawdown for the Trading Combine is calculated at the end of the day based on your Net PnL. For example, if you end your trading session up $1,000, then your Trailing Max Drawdown will move up $1,000. If you make $1,000 and then lose $1,000 intraday, your Trailing Max Drawdown will not move at all as your net PnL on the day was $0. For additional information I always recommend visiting our Help Center.
Additional Withdrawal Information
-If a rule is broken in the account, the trader will receive their profits greater than the account’s starting balance.
-If a rule is broken in the account and there are no profits greater than the account's starting balance, no payout will be made.
-If a rule is broken in the Premium Funded Account and the balance is below the account's starting balance, the remaining funds will be forfeited back to Topstep.
-If an account is closed due to 90 days of inactivity or a trader voluntarily requests to close their account, the trader will receive their profits greater than the starting balance.
I'm a newer trader looking to start trading with a prop firm soon. Topstep looks interesting. I read through all the FAQ pertaining to the futures Trading Combine and I have a couple questions. Due to absorbing so much information without taking any notes (a lifelong mistake I will regretfully continue to make from time to time), I may be asking some questions that are answered in the FAQ but simply forgot, so apologies in advance.
1.) If I opt to use TradingView as my main platform during the Combine/Funded Account, do I have to pay for the monthly Tradovate connection as well as the TradingView premium subscription needed to make the connection?
2.) Concerning the "2% within a price limit" rule, this means I can still trade after the NYSE and CME halts the market after a price limit? For example, at the start of the trading day, the ES starts collapsing quickly, dropping 7% within the first hour, triggering a price limit. After the 10 minute trading halt, I can begin trading again until the market reaches the next price limit, which is 13%. Repeat for the 20% limit. Asking this question because I wasn't sure if I would break a rule or not if I traded after the 7% limit was reached.
3.) A scenario: In the Premium Funded Account, the account balance starts at $5000. So, if I have 5 winning days, where I won $100 per day, my account balance is $5500 and I'm elligible for a withdrawal. I then decide to withdraw all I can from the account, which should be $2750 (50% of my balance). Could this situation happen exactly as described? I'm mainly trying to understand the Premium Funded Account and TopStep's withdrawal rules.
I'll respond to your questions in the order that you typed them out:
1. If you use the basic version of TradingView/TSTrader/Tradovate you will not pay any additional fees. The only other fee you could have would be for Funded Account data. For additional information on fees related to being funded I suggest visiting this Help Center article.
2. We ask all traders in a Funded Account to start flattening positions within 2% of the circuit breaker. Whether or not we reopen trading for our Funded Traders is entirely up to the discretion of our risk managers. If volatility is that high I always recommend checking with your risk manager or our social media to receive updates. You can find additional information in our Help Center for the 2% rule.
Hi,
I been part of topstep program for quite sometime and it's been a great journey. I don't think without topstep i would have reached this far.
Last week, I cleared(?) the step-2 of 50K combine - basically reaching the target of $3000 in 3 days with no single trade/day contributing to more than 40% of profits.
I joined the combine around Sep'21 and there was another rule at that point in time of minimum 10 days of trading. This miminum # of trading has been eliminated 4-5 months back in favor of a consistency rule.
Now, even though i completed the step-2 in 3 days because of this old rule that's stick against my profile but not anywhere in the current terms & condition, i am still not eligible to move forward from step-2 to a pro-account or funded account.
Topstep support says they can't lift that parameter from my account since it is a RISK!!
I see this as a double standard - For an individual who took the combine 2-3 months back, and if had the same trading records as mine then that individual is NOT RISKY to handle funded account(Other people money) !! Just wondering what sort of risk managmeent professionals topstep has?
It is not the question of another 7 days of trading. The concern is, the comfort with which organizations apply the rules. They can apply pointing to the website that terms and conditions are updated if it favors or point to the terms and conditions at the time of enrollment. This brings up businesses ethical values IMO. Most importantly, in this transaction, what's your model of risk profiling the potential traders before handing over other people's money?
Hope to hear your opinion beyond the usual story of product design, user migration etc.,
Cheers!!
And you'd think that "appearance" would concern Topstep(?).
But apparently not, because ("astonishingly"?) there has still been absolutely no public response from Topstep to the thread linked-to below, which raised an issue pretty directly related to your own.
I have to make a decision about how to move forward and I got quite disappointed.
Short story:
My mentor advised me to get into a prop firm to save on comissions. A prop firm like Axia is too expensive for me at the moment because I would have to move …
I've just joined the forum and read the entirety of that post, just to be shocked at the end when there is no reply at all. So I read this post too, and no reply here either!
So it would seem that Topstep will retrospectively apply a rule to someone who requests a payout several months earlier and not pay them? Yet they can't do the same for someone who has passed the combine sticking to the current rules, instead they make him trade 10 days when that rule is nowhere to be found?
I came here to read more about Topstep after they deleted a valid comment from my on Youtube. I don't trust them at all, it all feels like a "too good to be true" scam.
I made the very valid point that they are advertising "risk free" trading on Youtube, when the fact is that as soon as you pay them you are risking your capital. They have deleted several of my comments on there.
I pointed out that a beginner may take several months to pass, may have to reset dozens of times and end up wasting thousands and still have no funded account, that's certainly not "risk free".
And looking at the $150k account, you would need to earn $27000 of profits before you could make a withdrawal of $4500 and not ruin your account. $9000 twice in the sim, and then $9000 in the funded. If you withdraw before you hit $4500, your drawdown goes to zero and ruins your account as your back would be to a wall. But the point is, if you can make $27000, why aren't you trading your own money?
I'd appreciate Topstep's comments on this, and on the controversial post that they refused to pay someone their legitimate earnings after changing the rules several months after a payout was requested.