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Thanks for the feedback. Any changes and I'm sure you will know.
Hoag
If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at [email protected] or 888.407.1611.
I have a question about the profitability rule with the combine. One of the rules states that a participant must be profitable in every instrument traded. I assume that the majority of participants in the combine trade one, possibly two instruments during their trial.
I'd like to pose a hypothetical scenario to you for clarification: A trader has a system which is applicable to trading multiple instruments. During the combine (trading a $50K account), trading opportunities in 4 different instruments (i.e. ES, CL, 6E, ZS) arise, based on the rule set. At the conclusion of the combine, the trader has achieved a net profit of $6,500+ trading 3 of the 4 instruments (ES, CL, 6E). However, a single trade in Soy (ZS) was taken with 2 contracts, and the trader was stopped out with a -$500 loss.
Therefore, ALL instruments are not profitable during the combine, and technically, that condition is a violation of the rule, and would disqualify the participant. Calls placed to Topstep customer service for clarification confirmed this scenario is a rule violation and a disqualification. From my perspective, that is illogical. Can you please elaborate further on the logic. Happy Holidays, and thanks in advance. Jim
In my view the best option would be to take few High Probability trades in ZS and make ZS profitable and then you are home.
TST will not change it and they are good at what they do. Have very strict rules and yes traders who try will get caught into this and in my view this is where TopStep make their money.
So in the end they will give you money to trade with stricter rules and with so many failed continuous are they really giving money to successful people or are they using the funds accrued via the failed continuous.
Great business in my opinion as for every 1 passed account there would be nearly 15 failed accounts.
My view and without transparency no one can know for sure
Some things have been decided internally that should address this after the first of the new year. Keep trading well and lets have a great 2016!
Hoag
If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at [email protected] or 888.407.1611.
I have a question about your combine rules. I see the first rule of combine saying a trader has to be profitable on each and every product, but as a Forex/currency futures trader, I think it is more reasonable to consider all currency futures as a whole since they share very similar characteristics.
Myself trade all currency futures using identical approach, but I only pick 1 or 2 currencies where I see potential trading opportunities before each session. I trade mostly 4 hour chart with small size and because I trade quite infrequently, it's possible that I might end up reaching profit target, profiting from most currency products but have 1 or 2 losing products and thus disqualifies the combine. What are your thoughts on this? Thanks in advance.
We're happy to announce that TopstepTrader® is simplifying the Trading Combine®, Funded Trader Preparation™, and the Funded Account™ rules. Less rules = even more funded traders!
You spoke and we listened. Starting today, all active and new accounts will be evaluated with the rules shown below. With the approval of our trading firm, these new rules benefit the trading community, and make earning a Funded Account simpler than ever before:
REMOVED:
* Always implement stops with an open position
* Achieve at least 45% Profitable Days
* Achieve an Average Net P&L greater than $0 for each product traded
Step 2 & 3: NEW Funded Trader Preparation and Funded Trader Rules
Trade the Combine or Funded Trader Preparation product(s) you were profitable in during permitted times
Do not hit or exceed the Daily and/or Weekly Loss Limit*
Do not allow the Account Balance to hit or exceed the Trailing Max Drawdown*
Maintain an Account Balance greater than $0 after a minimum of 10 trading days
REMOVED:
* Always implement stops with an open position
* Achieve an Average Net P&L greater than $0 for each product traded (evaluated at the end of the 10th trading day)
* Achieve at least 45% Profitable Days (evaluated at the end of the 10th trading day)
*The Weekly Loss Limit (if applicable) and Trailing Max Drawdown are eliminated after 10 trading days
We are excited to share these new rules with you! If you have any questions, please post on the thread, shoot us an email at [email protected], or give us a call at 888.407.1611 - we're more than happy to help.
I think this will make the combine achievable (especially the all products above $0 rule) while still providing an adequate test of a persons ability to trade a funded account. It is good to see you focusing on funding traders rather than relying on the revenue stream from combines.