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I gone to the example you've referenced. It doesn't seem to be for funded accounts.
It in the trading combine section.
"Once the Trailing Max Drawdown reaches the initial starting balance of your account, it won’t change for the remainder of your evaluation period. "
Then I went to Funded accounts
looked at the rules and clicked on trailing drawdown and again it took me to the same place.
As with all of TST website it takes forever to get a clear answer -if you ever do -- and they never put all the rules and catch-22s all in one place.
That's probably because the principle is the same for both?
I think the website's now fully updated after the recent rule changes (which, like last year's rule changes, were designed to remove a few restrictions, make it easier to qualify, and increase the overall Combine success-rates). It's true that the rules do change from time to time, because TST are pretty impressive at listening to customer feedback and acting on it. (If they didn't ever change, people would perhaps complain that they're inflexible and never change anything even when people request it? I prefer it this way, myself - but that's just my opinion, of course.)
The trailing max draw down it the same, if your in you combine LTP, or live.
So once u hit break even, so basicly you have a 2k drawn down, once you reach 2k in profits, you can no longer be negative in the account or you are done. Basiclly
My post was nothing about rules changing that is fine.
The website is poorly designed cut-and-paste with tiny amounts of content scattered all over the place, requiring hours of back and forth - questions to support - evasive answers and so on.
A friend was going through a combine - last March - and I would ask him questions. He would say He wasn't sure then get an answer from the support - which didn't answer it - and I would repeat - and eventually he said
"Oh I'll just wait until pass the combine and then take it from there."
So I want to know all the rules - all the catches - what I will have to sign - what I am liable for, that is in writing not what might be said in a email, etc before I start.
I find it so laborious to get the whole story that it becomes more time than its worth.
When I ask other FIO members simple questions - they get evasive and say things like:
"Oh post that in the ask anything thread"
"Oh look at the website"
"Oh why not ask support?"
If anyone has a question or concern please ask, I will try to be as transparent as I can, and honest.
I am assuming liable when live. You have nothing at risk once you go live, just jacking yourself up and starting all over again. Now you sign a agreement, basically saying you earn is your, the pay out all the rules you have to follow if you don't they can let you go. You will have to pay a 89$ dollar fee every month for each product you trade. So say you trade Es,cl, and zb that's 89 x3. Per the exchange rules, since you are trading others people money, they consider you a professional. That's they only catch, yes the website makes it sorta tuff, but once you have searched around it's pretty much on there. I like topsteptrader for the fact they have never lied, and are trying to do right by the trader. Yes they might make mistakes, but for the most they. If you pass, they will back you. And just make it clear I am not recieving anything from them, my name is handletrader, when I join the tst chat. If anyone has a question please ask. I will try my best to give you a strait answer.
I want to know if there is an account opening agreement that you sign (probably when getting the funded account) - just as you would when opening a futures brokerage account.
When carefully reading a futures brokerage account it says you are liable for all losses no matter how they arise whether due to: computer problems, internet, exchange or even their errors.
So in the flash crash where the S&P dropped a huge amount (the "fat finger" crash may 6 2010) many peoples protective stop-losses were not filled. The brokerage's computer submitted them to the exchange and by the time they got there they were rejected as "to far off the market". For those who resubmitted rejected again. it was falling very fast. Some people were liable for up to $6,000 for a single ES.
For those who weren't close out at the LOD the Fed came in a bought up the market to close it back near the open but that didn't help those who couldn't get the stop filled or who the computer filled them but with their account many thousands of dollars in the negative.
So
1. Did you sign a futures account opening form when you were given a funded account?
2. If yes - please read it carefully - and tell me what it says it will be in the fine print.
(In passing, if I open a futures account with a futures broker I am able to read the entire account agreement BEFORE starting and decide if I accept all the terms and conditions. It's posted online for anyone to read - just as it should be. Open and above board.)
To answer your question, I not only read the agreement I had the answer verified by the owner Mr. Patak. This comes from the agreement. The parties
"acknowledge that Trader shall not (a) provide trading capital for the Trading Account;
(b) have responsibility to provide capital based on trading losses, except as provided in
Section 8; nor (c) make any loan to PTP for the purpose of providing trading capital."
You will NOT incur a loss, or provide any capital if you have a loss, due to a market crash. But with that if you have 20k in the account, and you lose internet, or etc, that 20k is gone, But hopefully you have a stop in place and still have your daily stop limit, that they have you use. You are not responsible for anything beyond that.
They TST being a Prop firm knows this risk, part of the business.
I hope this helps.
Handletrader