Attachments: Plan for 50K TopStep Account

Plan for 50K TopStep Account

#41
Aug 18, 2024 3:06am Aug 18, 2024 3:06am

Mandariin
Joined Jan 2016 | Status: Trader | 1,013 Posts

Quoting Emma1

Disliked

{quote} Express is more complex with only 2 contracts.

Ignored

It depends. With latest volatility trading with 1 micro ( MNQ ) its more than enough and you can easily blow up account with 1 mini ( NQ ) in a day.

And if you use TopstepX platform you can start with 20 micros position.

TopstepX allows traders to trade the maximum equivalent contract values of Minis and Micros (10:1 contract ratio*). The “maximum position sizes” are now synced according to the total leveraged amount, allowing 10x Micro to Minis contracts.

I might be wrong , I have been wrong before

#42
Edited 7:36am Aug 18, 2024 4:54am | Edited 7:36am

Emma1
Joined May 2015 | Status: Trader | 116 Posts

The aim of the Express is that the trader is aiming at being paid, that is not the case with trade combine. I think the trader may have an amount above the required ($200) to meet their own target, such as $500, or more per trade. It can be agreed that using mini contracts is useful.

#43
Aug 18, 2024 5:08am Aug 18, 2024 5:08am

Mandariin
Joined Jan 2016 | Status: Trader | 1,013 Posts

Quoting Emma1

Disliked

The aim of the Express is that the trader is aiming at being paid, that is not the case with trade combine. I think the trader may have an amount above the required ($200) to meet , such as $500, or more per trade. It can be agreed that using mini contracts is useful.

Ignored

No need 500$ per trade.
200$ per day needed and there is different ways to reach it. You can take one trade 200$ , 2 trades per 100$ and so on...

I might be wrong , I have been wrong before

#44
Aug 18, 2024 7:12am Aug 18, 2024 7:12am

KarlKraus
Joined Jul 2017 | Status: Trader | 452 Posts

Quoting Shantala

Disliked

{quote} Thanks for your suggestion. Will try to implement your suggestions.

Ignored

You should do that. Mandarin clearly knows what he’s talking about.

Quoting Shantala

Disliked

2 trades per day

Ignored

This is plain weird. It means that if (as very often happens) the best trade of the day is the third or fourth or fifth or sixth one that arises, you’ll miss it. There’s absolutely no logic there (unless you’re trading something like an opening range breakout system that can only hit once/twice per day - but you’re obviously not).

Quoting Shantala

Disliked

If first trade stop loss hits, wait for at least 1 hour

Ignored

That’s sensible only if you have proof that you do better, overall, by doing that than by not doing it (but you don’t, do you? It’s really very, very difficult to imagine! I’d just drop that rule, which makes very little sense).

Quoting Shantala

Disliked

Risk Reward Ratio - 1:3.25

Ignored

This is just crazy - sorry, not trying to be rude, but there’s no way to be totally polite about it. I doubt (very, very much indeed) whether in all the 11-12 years of Topstep’s existence, anyone has ever passed a Combine using an “R” of 3.25. It’s a sure-fire way of stacking the deck against yourself.

Because of the way Topstep’s parameters and polices work, the one thing you need, whatever you’re doing, to pass a Combine is a high win-rate, and you can’t possibly have that in conjunction with an “R” of 3.25.

Do you actually have a genuine, proven edge at all? Or do you just "hope" you do?

Have you “passed” it on your own, private demo account a couple of times so that you actually KNOW that it works?

There’s no point in paying Topstep to do it there until you know you can do it on your own, under Topstep’s rules, is there? That’s just pouring money away unnecessarily …

#45
Aug 18, 2024 7:31am Aug 18, 2024 7:31am

Emma1
Joined May 2015 | Status: Trader | 116 Posts

I was not making references to Trade combine. The next level up is Express Combine which starts up with 2 contracts thereafter scaling with more contracts.
"R": 3.25 is possible .

#46
Aug 19, 2024 10:20am Aug 19, 2024 10:20am

Shantala
Joined Aug 2012 | Status: Reading the market | 326 Posts

Mandariin, Emma1, KarlKraus

Considering all suggestions from you all and will try to incorporate them.

You people are asking some questions and those questions are also making me think differently. Even if I am unable to answer them right now, I will write an answer to all the questions together.

At the beginning, Anotan suggested increasing SL for NQ.

Appreciate all your inputs

Thanks

#47
Aug 19, 2024 10:20am Aug 19, 2024 10:20am

Shantala
Joined Aug 2012 | Status: Reading the market | 326 Posts