Michael, please forgive me if this subject has been answered before. I did a search but to no avail. Are there regulatory issues stopping a firm like yours from entering the stock trading industry? You only have 25 (more or less) permissable products and that restriction leaves $ on the table. Are you planning an expansion into equity trading?
Quannabe- We are working on the market you mention but the focus now is finding and developing futures talent. All in due time thought. mp
jack411- The profit target is typically cut in half or removed in ltp. As we are prepping a trader on their control (and patience). TST does not put all Combine recruits in LTP. This is a case by case situation. mp
I know Michael. It's easy to get discouraged. I know you get all the grief and not much gratitude for your program. I want to extend some gratitude to you and everyone at TST/Patak for even giving guys off the street like me a chance.
rawman- Thanks. Yeah, this is exactly how many of us with TST and other traders that are invested with TST got our start. Many props firms did this. It felt sorta like a fraternity hazing before you started trading live. It would bring many traders to a point of patience and discipline that they otherwise could not get to on their own. This business and the path one has to take to get to consistent trading is not for everyone but those that stay the course turn out just fine. mp
btw I hate my phrasing "off the street" you don't take homeless guys lol and I'm not one but the great thing about your program is you don't care if they have an MBA or are a high school dropout you give them a chance to prove they can trade...walk the walk not just talk the talk
rawman- That's how this business ultimately is when you strip down everything else and get right down to the basis. Can they perform and can they produce. Nepotism, age, sex, location, doesn't matter at all. mp
It seems like TST is funding a lot of traders lately from the emails I'm receiving, but it seems to be mostly small traders, the last one with a daily average of $76. Are there any statistics on the performance of traders after they've gone live? How many of the funded traders are consistently extracting money from the market and TST? How many are pulled from live trading after getting funded? Does TST fund any traders who are doing really good and trading with size? Thanks.
Laissez Faire- TopstepTrader is funding all types. The last trader had a trading average of $638. As for the stats at the funded level that is proprietary and confidential info between the equity partner and the traders. TST provides the opportunity to develop or show you are ready for funding while in the Combine. What the trader does at the funded level is 100% on that trader. Our scout team does work with anyone who is struggling and leaves the successful traders alone. Lastly TST does not fund the traders. TST places the successful recruits in the Combine with an equity partner. mp
Not sure how it works, or if they are required to meet hedge fund requirements, but you may need to learn more before commenting. If a guy who meets hedge guidelines commits $100,000 to your example, and the guy only trades 45 weeks a year there is a 17% return available on that $100,000. Are you doing better on your investment money? I am not a supporter or detractor, but you need to look out further than a day and understand the return potential.