kimo'sabby
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Any members of T2W, affiliated or trading with this company? Discuss, perhaps...?
I'm a Partner with Topstep and I know a couple of people that got live accounts with them.
They have some pretty stiff requirements before they (well - their equity partners) will give you money to trade but they do actually do it.
On the one hand, the combine (what they call the try-out) is much better than SIM in terms of having something on the line other than your own money. On the other hand, there are some people that take potshots at combines. One guy I chatted with took in excess of 20. Fact is, if you are taking pot shots, you won't get through the live trader prep at the end. Other people will do stuff like take a position and then sit on it, hoping to ride it to the end. You could do 2 and coin toss that position knowing one of them will likely pass.
There is a live trader prep after the combine that some (but not all) traders need to do before getting an account. If you are taking potshots, you won't get past this point.
So, it is real, people do get funded. Many people comment that they are very tight on risk but it is their money at the end of the day.
FWIW - here's an interview with a guy that got an account after I met him.
Newest Funded Trader Interview with RAA on Squawk Radio - YouTube
Maybe some of the 'combines' won't get their deposits back if I understood t&cs correctly.
Together with $2995 for the traders development?
It would be good to know the success rate and also what percentage of deposits weren't refunded.
10 days trading to make 8%, with maximum daily drawdown of 2% and maximum drawdown from initial balance of 3%. Not easy.
10 days trading to make 8%, with maximum daily drawdown of 2% and maximum drawdown from initial balance of 3%. Not easy.
The traders development isn't compulsory, you can become a member and take the combine.
Crimeney. Is my maths wrong here? 8% in a week with a 2% d/d and 3% cap (compounding balance on max dd for that period) is about a 8000% ROA in a 200 day sustained period on ave d/d or 3,333% on peak d/d?
Bit of a punt really. Guess you'd have to go in factoring at least 5 lost deposits.
8% in 10 days rather than 5, but yeah, they ask for a lot.
IF max daily drawdown is 2%, then if you're planning on taking several trades in a day, you'd likely have to risk less than 0.5% on a trade, and round trip is $5, plus there are other criteria that make it even more difficult.
As zen archer says, just to get the refund on the test there are lots of conditions, and you have to do some good trading.
do you have to pay to be considered for backing? If so, what's the damage? Is it refundable? Who bears the losses when you're on trial?
Only trade permitted products, during the permitted times
Trade the required MINIMUM number of days of the Combine
Must achieve overall Winning Day percentage of 50 or greater
Largest Losing Day cannot hit or exceed Daily Loss Limit
Do not hit or exceed Max Drawdown
Each product traded during the Combine must have a Trading Average greater than $0 and meet at least TWO of the performance requirements listed below:
Overall Average Win greater than Overall Average Loss
Overall Average Win Duration greater than Overall Average Loss Duration
Total Win percentage of 45 or greater
Hakuna, even if you meet the requirements (much stricter than the ones quotes above), you're not guaranteed fundiing, you MAY get funded.
Hakuna, even if you meet the requirements (much stricter than the ones quotes above), you're not guaranteed fundiing, you MAY get funded.