Have you decided to begin your journey toward becoming a profitable trader? You want to trade futures but are still looking for the best way to get started? Excellent!
Now you may be asking: should I just go open a brokerage account myself or should I join something like the TopstepTrader Trading Combine to become a funded trader? If you’re still undecided about which way to go, then this little guide might help you to make a more informed choice.
By the way, my name is Alexander Voigt, and I am the founder of daytradingz.com. I started day trading way back when you could pretty much just buy any stock and make money. Strange as it may seem, literal arbitrage was still possible simply by cross-buying and selling stocks at different exchanges. Also, nearly every day trading strategy worked like a charm (provided it was a long strategy).
Ah… those were the days.
Obviously, things are different now. However, the good news is that much of what makes a successful day trader has remained the same. For instance:
“Trading is a competition - it always has been and always will be.”
Therefore, it is more important than ever to start your trading career with a solid educational foundation and a clearly defined set of rules. And that’s where the Topstep Trading Combine comes into play.
Here are 5 reasons that I have found the Trading Combine to be “worth it.”
NOTE: The following article reflects my personal opinion and summarizes what I concluded in my TopstepTrader Review.
1. Your Private Capital Is Not at Risk
It is entirely natural that you aim to trade as fast as possible with your own capital. Most traders go this traditional path. They open an account and transfer their own money directly to the broker. When you start in this way, every last cent of your money is on the line.
On the other hand, when you join the TopstepTrader Trading Combine, you stand to lose nothing more than the monthly subscription fee.
Better yet, if you pass the Trading Combine and get funded, you don’t stand to lose anything at all—even if your account loses money. In the meantime, you can keep all that cash you would have deposited in a brokerage account in your checking account (where it belongs).
2. You Start With a Clear Rule Set
Successful traders all have one thing in common: they follow a well-defined rule set. And if you join the Trading Combine, your own rule set will be abundantly clear from the start.
You will know your profit target, the maximum position size, and your loss limits. Even the maximum draw-down is defined.
The criteria is all completely objective and will help keep you on track. Reach the targets while following the rules and a funded trading account is waiting for you. It’s that simple.
3. You Learn How to Trade Under Real Market Conditions
In theory, this whole trading thing seems so unbelievably easy—just buy low, sell high (or vice versa) and rake in the profits. After all, you’ve studied hundreds of charts and have your strategy down to a science.
You might even be convinced that your plan will work right away once you start trading with real money. But as any successful trader will tell you, the real market is different.
A chart doesn’t tell you much about the slippage, spread, or the Level 2 order book. That’s why it’s crucial that you learn to trade under real market conditions, and put as little of your own capital at risk as possible. On this front, the Trading Combine has you covered.
4. The Monthly Price Covers All Expenses
When you start your Trading Combine, all costs are covered. The CME exchange fees and the TSTrader trading platform fees are included in your monthly subscription package. So if you decide to aim for a $30,000 funded trading account, then your monthly price will be $150.
Just to reiterate, that $150 per month includes everything. That means you can focus on executing your strategies without worrying about losing your shirt. In my experience, having a fixed downside will do wonders for your mindset.
5. No Need to Risk Capital Once You Become a Funded Trader
Once you have reached the profit targets and traded by the rules, a funded trading account is waiting for you. Depending on the plan you chose, you will gain access to a funded trading account with between $30,000 and $150,000 in buying power.
TopstepTrader will provide 100% of the capital necessary to trade these sums. As far as profits, you get to keep all of your first $5,000, and then 80% of anything you earn beyond that. And if you happen to lose money in a Funded Account? No sweat. You’re not on the hook for any of it. This is probably the biggest advantage to trading with someone else’s capital.
Now, it’s up to you to find the right opportunities and put that money to work!