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Im sure Michael will respond shortly. But in the mean time just keep in mind that a prop firm and a hedge fund are two vastly different businesses. TST does not have investors. They have traders who trade TST's capital once they have passed the combine. Their revenue model does not rely on (nor involve) investors. There is also no concept of a management fee in the case of a prop firm like TST.
Your first sentence is true, but TST does have a backer, who basicly is an investor. So beside the TST/trader split there also has to be some kind of profit share between the backer and TST, making their already 20-40% share even smaller... Of course they might have a completely different business set up...
I think while it's not the best idea to be drilling their business model here rather than trading, it is fair not point out, that hedge fund or other mutual investment vehicles keep investors funds constantly at risk until they are withdrawn. What happens at TST is that they risk a relatively small amount of max draw down, and their risk is zero once the cushion is built- by then trader is risking the money he made. No traders that take money under the management for active trading in futures or forex will trade for 20%. The standard figure is about 50%. And you cannot withdraw at your discretion.
TopstepTrader has been added to the Elite Partner Offers page. TST is giving a 20% discount on combine's for nexusfi.com (formerly BMT) Elite Members (new recruits only, limit 1).
Note: Big Mike Trading does NOT receive compensation for these referrals, we simply worked out these special deals to help our Elite Members who have chosen to support the site. Even though we believe these are great products and services, you should always do your own research before doing business with a company.
Is there any news about NinjaTrader compatibility with the combine?
The last estimation was mid july.
“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”--Albert Einstein
Ninja users might consider giving up on this. First mention of this was in January I think. In post 5 of this thread, end of March is given as a date, and even that was far behind schedule. At this point it's been delayed about 6 months.
Yes we have started the soft launch of Ninja with the Combine. The committee we have in place to manage this is requesting a slow soft launch as you can tell by the email. This will be opened up further and further in the coming weeks to those interested. This is invite only at this point. If you receive an invite (similar to Daytrader's) you will have the opportunity to sign up to the Combine using NinjaTrader.
Just a heads up, TST has a special committee handling NT traders but we'll relay anything that we get updated on or if you have questions I can always help to answer those here.
Thanks to everyone for patiently waiting .... more to come.
mf
If you have any questions about TopstepTrader please send me a Private Message or contact us at [email protected] or 312.252.9490.