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I'm always a little surprised by this kind of comment, to the effect that no one has verifiably made any money with TsT, and look at how high the fees are. Must be a scam, or something. (Not trying to jump on you, @Turveyd, or anyone else, just saying that there's another view that's supported by the evidence.)
I'm not going to mention any names, because it's not for me to drag other people into the conversation without their knowledge and their OK. (I realize that some people will laugh and say, "That's because there aren't any.") But in fact there have been quite a few former and present posters on futures.io (formerly BMT) who have done just that. Some currently trade actively with TsT. Some have been quite prominent as futures.io (formerly BMT) posters.
Old hands who read other peoples' posts will have come across them.
Do I think there are just a whole bunch of happy little TsT'ers who are making big bucks trading with them? Hell, no. I don't think there are many posters on futures.io (formerly BMT), or anywhere else, who are making any bucks at all trading short-term, high leverage markets. (Or long-term, low leverage markets either.) I don't think there are many who are or have been trading live at all, much less profitably. That's how the percentages break out, all over.
I think they do what they say they do: hire traders for what is simply a prop firm, if they can show they can trade according to the rules TsT wants its traders to use. Most can't. Most won't get hired. Most won't be profitable on their own either. I am sure that some will be profitable trading very differently, and don't want to trade TsT's way because it doesn't suit their methods. That's cool. Whatever works.
So basically, people who want to try this path can do it, people who don't, don't have to. Maybe it is a scam, after all. Maybe it isn't. You pays your money and you takes your choice. But are there people who have done it? Yes. They post sometimes on this forum, too.
I don't mean this as a negative comment, and if it seems a little edgy to anyone, I apologize for it. That's not any part of my intention. I just wanted to get another viewpoint out there, and to point out that, yes, we do know people who have done this.
Got a reply to my email to TsT asking whether there is a rollover for the continuous Combine:
"There are no rollovers for the Continuous Combine. Since you have an unlimited time to achieve the Combine Objective, you would want to continue trading in the Combine account until you reach the profit target in order to be funded.
If you have any further questions, please let me know.
Many thx Bob on your follow-up.
Of course if you have exceeded your daily or overall drawdown loss levels, then you'd need
to fund a new one.
I feel this is great option and take pressure off on needing x amount each day on 10/20day combine to achieve.
Still need to work on a Consistent Profitability model of at least 70% or greater in most cases to be successful
in day trading... especially if you scalp like myself on trying to reach $100/day per contract...
Here's something I did not expect about the new continuous Combine and rollovers:
New email to support:
"Another question: if I get a rollover in my current 10-day Combine, can I roll over into a continuous Combine, without the first month's fee (obviously, I would have to pay all the others), or do I need to also put up the initial continuous fee?"
Reply:
"That is a great question. Yes, you can rollover into a Continuous Combine where your first month is free.
Best,
Erika"
I had just assumed they were a totally different breed of cat, but with this, you can at least roll into them. Good to know.
Can't find the $100 restart any time fee, maybe I dreamt that ??
Remember, they could still refuse you even if you smash the profit target and pass all the rules, odds are they wouldn't like my unusual but very effective trading style.
But it's tempting to try, cause there no other way to tell at this point, not a lot of $$'s for a potential huge return ( I bet they make mega bucks off these cause of this ), I should be able to make trading YM and ES say $300 per day (conservative figure ), 3 days per week, so $2400 per month for me, basically it would pay my way and stop me having to dip into my account.
I'd also have to learn a new trading environment and couldn't trade via Ipad Mini like I do currently ( well remote access into PC at home, or Laptop )
Can't decide, be a lot happier if it was an instant, you qualified, here is an account go make us money.
Can I setup that above as a custom combine rule ??
My understanding is that when you "reset," it just wipes out your losses and you start back at zero; I don't know if it resets your every-30-day payment schedule. That would have to be checked; I'm no expert.
Yes, they do reserve the right, I believe, but in actual practice what I have seen them do is ask a trader who passed the Combine but wasn't as consistent as they liked to do a "Live Trader Prep," which is essentially a free Combine with somewhat relaxed profit target.... mainly, I understand that it's to make sure the trader can handle his losses well when the profit pressure is lessened. At one point, mp said that LTP was about 50-50, in terms of whether they ask for it. When they announced the Continuous, one thing they said was that the need for LTP probably would be less, since, with more time to evaluate a trader, they would have a better feel for his consistency.
At a minimum, people say it takes a couple of weeks to set up the account (not sure why, but I guess there is paperwork to go through.)
One more thing. I strongly suggest starting off with a Combine that has a fairly low profit target, and using fairly low leverage (number of contracts). I have seen a lot of Combines being blown up, including by experienced traders, if they swung too hard for the big returns at first.... Those loss control rules surprise people sometimes, if they haven't been that hard-assed about controlling their losses in the past. (Me, for instance )
Haven't got the time at the moment, but if the client will leave me alone for a few days to make some $$'s, then I'll have loads of time as they'll be looking for a replacement ME, which won't be easy.
Thanks for finding the $100 restart bit, I'm not going crazy, and no idea only got the info posted here.
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TST is a company in search of profit just like any other. They understand 90% (or greater) of participants will donate their deposit. On the other hand, considering data feed costs, a reasonable rate to trade real time with the continuous plan as the platform feed continues until cancelled. The feed for the 10 day combine ends on the 10th trading day.
I would like to see a platform/brokerage offer a pay for real time simulated account, at a nominal fee, so that I can work on strategies, build my plan, and without committing to an account. 14 day free trial periods pass so quickly and not a fan of market replay. TST, so far, has come the closest to what I am looking for. Real time data to train on is all I ask. Of coarse, could dive into the real fire !!!