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Thanks for the heads-up Sirkin. I didn't realize this until today, pretty significant!
FROM TST site on FTP rules:
What is the Weekly Loss Limit?
Following successful completion of a $50K, $100K or $150K Trading Combine, Funded Trader Preparation and Funded Accounts have a Weekly Loss Limit. The Weekly Loss Limit is the maximum amount you may lose at any point in a calendar week (Monday through Friday). The Weekly Loss Limit is equivalent to the Daily Loss Limit and is factored based on the SUM of the total Net P&L in the calendar week (calculated intra-day). In Funded Accounts, the Weekly Loss Limit rule is eliminated once the Trailing Max Drawdown reaches the starting balance.
there my be some thing i am missing in there program. when you jump through all the hops and get funded. top step is not putting up no 150,000 for your trading. it is more like 1500 . you get booted . that is the max draw down. even with good results after that you pay for your own data plus top end retail com. and they get 25% of the profits. it would seem a very long way from having the account necessary to make 2000 a week as a trader., if ever ...if there are any funded top step traders making 200,000 a year.... share with us the wonderful thrill ride
There giving you 10 contracts but in the beginning you scale in, and use min lot size so he trader doesn't blow up the account early, your stop loss is 3k for a 150k account. As well you are now considered a professional trader, there for you now pay the exchange as a pro trader not a retail trader. This money does not go to them. What is top end retail.com
Hope this helps, tst is as legitimate as they come.
This is so. But it's effectively much more than you $1,500 you mentioned: for the $150k Combine you refer to, the max drawdown is actually $4,500.
What they're really doing is lending their account facilities to enable you trade as if you had (considerably) more capital than you really do. The Combine, FTP and funded account are all an ongoing test of risk management (just as trading your own account successfully is).
Not quite: you get 100% of the first $5,000 and after that, they get 20%.
Indeed, but they've never suggested or implied that, or anything like it.
i pay 3.50 round trip on the ES with free data , i can play trader free in sim. do they not charge you 160.00 a month to play trader...then when or if funded 5.50 round trip and you pay for your own data, i am not saying they are not legit . it just seems you are doing a whole lot for very little. if you could trade why would you even bother with top step// now if they give you free education and software ,mentoring, coaching, filtered news wire. that would be different but they charge for all of that. or am i wrong ..i am not bashing top step ..
It seems differently, to me. These things are very subjective, aren't they? I wonder whether, and to what extent, it might seem that way to you because it turns out that most of the "facts" you've quoted in support of your perspective (four or five of them, just between your previous two posts) have actually turned out to be mistaken.
Anyway, I think this isn't really the appropriate thread in which to discuss them: this one's intended simply as a record of FIO members successfully funded by TST, of whom there are clearly many.
i was trying to figure out why some one that can trade would trade with top step. i thought there may be some thing in there program i was missing. if my facts are wrong and they may be ...so what...there not of that much..the way you learn is to ask questions. that is all i am doing. are you a funded top step trader. if you are then please share with us why you would not be better of trading on your own. what do they offer that is wort it. i thought there may be coaching free training. some of my facts my be wrong but the questions are fair questions. i am not posting to bash top step , i no there legit an not a scam. the way you are responding some one may think you work for top step. this is my last post to this thread i do not want to fuss over it.
The answer I see offered most widely is that they have trading skills but not enough capital to trade futures on their own account.
That's been the reason given by the people I know myself, who have become successfully funded by TST, anyway.
I don't know if you were "missing" anything, but it certainly seems that you had much of the information wrong?
Well, the first I corrected was out by a factor of 300%, it seems?
Not at all: you were also stating a whole series of "facts", but they were rather wide of the mark.
No; I'm not. I have no connection with them at all (past or present).
My understanding of their offer is that it's intended specifically for and targeted specifically at people without the capital to trade futures on their own account.
That being so, there's no real "comparison" available.
The choice for the people in TST's target demographic isn't "should I trade futures on my own account or through TST?" (I agree with your inference that that wouldn't be much of a contest at all!): it's "should I trade futures through a TST account for 80% of the takings after 100% of the first $5,000, or not at all, and am I able and willing to risk $150 or whatever, to see if my risk management skills can qualify me?"
I think I've been here long enough, made enough posts, and know enough other members for nobody whose reactions would concern me to suspect that. I repeat that I have no connection with them. I was posting simply to try to answer some of your questions and to correct some of the factual misinformation with which you've backed up your statements.
Anyway, I think this isn't really the appropriate thread in which to discuss them: this one's intended simply as a record of FIO members successfully funded by TST, of whom there are clearly many.
it is like playing a satlite poker game online trying to win a buy in at the world series of poker. it limits your losses to you make it to a final table.. the program is not made for some one who has capital and can trade ..sorry for calling you a vendor ..
No, of course not: it's targeted specifically at people who can trade but don't have the "riskable capital" (and clearly there are loads of them, and all over the world, too - you do need quite a lot of capital to trade futures, after all).