Is Topstep Trader legit or a scam?

Discussion in 'Prop Firms' started by qubit000, Mar 6, 2019.

How long have you been a funded trader with Topsteptrader?

  1. Less than 6 months

    6 vote(s)
  2. 6 months - 1 year

    0 vote(s)
  1. Frederick Foresight,

    I think i spend about $1200. I had to pay $100 reset fee for doing stupid stuff and hitting the daily loss limit 2 times.

    Lol, I understand what you mean.

    Now I know the what it takes, it makes me practice better and be serious.
    #21     Mar 6, 2019
    EricM2217 and murray t turtle like this.
  2. %% Good points, Simple Like me.
    By the way, one of the larger hedge funds insulted the use of moving averages, WSJ last 52 or 104 weeks. Strangely they must have a good marketing= they track S& P 500/SPY mostly ; except they do better in bear trends.

    80%-20% is a common business pattern; I never even gave my CPA or lawyers a %; much less 80% or 20%.I like the way if you make a fat finger mistake, they give you some seconds before thay count that against you[[Taking their word for that,ad]:cool::cool:
    #22     Mar 6, 2019
    SimpleMeLike likes this.
  3. murray t turtle,

    I am sorry, but I do not understand what you are talking about. Can you please re explain?

    What are you saying here about WSJ?
    #23     Mar 6, 2019
    murray t turtle likes this.
  4. %%
    The huge hedge fund wrote an advertorial[ad but in article from LOL] WSJ,noting how much better his computers were, than simple moving averages.
    I dont remember if it was in the last WSJ 52 weeks or 104 weeks, 'cause I threw that junk out.LOL Hope this helps; moving averages help me.:D:D
    #24     Mar 6, 2019
    SimpleMeLike likes this.
  5. Thanks for explaining,

    I only invest in Vanguard Index SP 500 fund for long term retirement. I don't have the energy or time to be playing around with Hedge Fund people, just invest index and move on. Keep it simple. Warren Buffett kicked the Hedge Fund people ass from one investment in 2008 and still winning.

    I use one moving average to day trade.
    #25     Mar 6, 2019
    murray t turtle likes this.
  6. %%
    PlenTy of IRS rules are a grey area . One IRS pattern + IBD published this IRS data this year. The more you make the more likely you are audited.An exception is under $25 ,000+ they like round numbers also . Under $ 9.99 million AGI, its about 7%; over $10 million its 14%/+ audit rate. Sounds like they don't believe many make under $25k.LOL

    I had a CPA so sloppy with his handwritten numbers ; it maybe helped, who would want to ask/eyestrain for many numbers clarified, average income LOL.:cool::cool:
    #26     Mar 6, 2019
  7. %%
    NOT many beat VOO or SPY,SPY= liquidity leader.VOO usually beats SPY by a bit,and or dividend but sometimes not.Keeping it simple; sometimes I use a exponential ma, a bit faster than simple.

    Weighted moving average is faster than both ; but I seldom use that one= the faster it is, the more commissions it uses. LOL+true:cool::cool:I would mention the name of that fund, but he insulted MA, so i will not..........
    #27     Mar 6, 2019
    SimpleMeLike likes this.
  8. murray t turtle,

    There is an old saying I adapted in my life about 10 years ago, and goes like this "If you can't beat them, join them". I will stick to the S&P 500 index auto investing twice a month. Easy, Automated, Good back test results, and makes money long term. Keep it Simple.
    #28     Mar 6, 2019
    Hideyoshi and murray t turtle like this.
  9. TST is not a scam. It is a legitimate business that uses a hamster wheel as a business model.:sneaky:
    #29     Mar 6, 2019
    clockwork71, coplii, traderjo and 4 others like this.
  10. qubit000


    From what I'm seeing, the few funded traders that have spoken out spend as much, if not a lot more, on resets/monthly sub fees than what they were initially funded so the risk to TST is almost nil.

    Question remains why would a funded trader continue giving TST 20% of profit (+ pay much higher prof data fees) after earning first 5k
    #30     Mar 7, 2019