Combine Update. I'm eating my own strategy dog food and it's taking a while to get through just Step 1. I'm on Day 19. Balance has been stuck around $52K. Good news is I resisted the temptation to throw on a few full E-minis to push through. Sticking with only micros. I'll provide more updates when I get to Step 2.
thanks for the great videos, are you trading the $50k account combine and your trading on just the micros? isnt that hard/slow on max 5 contracts? thanks
@@futuresfanatic Im weighing up whether to go for top step trader 10k micros account/50k futures account... or go with earn2trade gauntlet mini. I was all set for Top Step but their max and min contracts on the micros put me off a bit, and earn2trade just came out with a 50% discount ontheir gauntlet mini which apprently you can trade up to 10 micro contracts on that as well, and the 50k account is $85 per month, top step is $110 to $165 per month, account size dependant.. earn2trade say.. " The maximum position size defines how many contracts you can have open at any given time across all positions. The only exceptions are the following micro contracts: MES, MNQ, MYM, M2K, MGC, which can be traded for up to ten contracts and it'll only count as one contract towards the maximum position size. For example if the max. positions size allows you 3 contracts then you can either trade up to 3 ES, 2 ES & 10 MES, 1 ES & 20 MES or 30 MES." interested to see your thoughts on this one? and once again thanks for all you do, very helpful for people like me deciding which combine to go with, cheers!
@@samnewzealand Mostly to torture myself. Ha! Actually, I don't think a $1000 weekly drawdown (2%) is reasonable at all with "50K" account so I treat the Combine like a $5K account where I can only trade micros. My self-imposed max DD is $300. My weekly profit objective is $1K so it should take me about 2 months to pass the program. That's about the pace I'm on.
Now the rules are so much easier. But it backfired on me trading NQ. Every loss like 300$ or so. Switched to micros like you said and it’s slow and steady. Wish I saw this vid before my combine.
Yes, but with some tweaks for current conditions. I have a lot of ideas on my TradingView page on my prop strategies. www.tradingview.com/u/RodCasilli/
Going for the 150k topstep, I need 9000 in profit to pass. Trading ZB futures at 5 tick risk and 8 tick reward means I'm risking $160 per trade on 1 contract. This means I need a 60% return to pass. Going for a steady 5% per month, I would need 12 months to pass. At $150 per month, that is $1800 minimum in monthly fees. My question is do I up the size to pass and then scale it back down when passed?
Can you explain how you figure this out? 1. The distance between the developing Value Area High (VAH) and Value Area Low (VAL) must be greater than 50% of the 7-Day Average True Range (ATR) of the instrument traded.
Probably more than I could explain in UA-cam comments. I go into the concepts in detail in my course which I'm giving away free: tradersdevgroup.com/free-futures-course/ Also, I have lessons on ATR and volume profile on my TradingView page. Follow there too. :) www.tradingview.com/u/rodcasilli
So contract limit of 5 is just for open positions correct? Not total amount of contracts for the day. I just want to be sure because I usually only trade 1 at a time. Maybe 2 during a streak but very rarely
I’m having trouble setting this up on trading view can you type out exactly what to look for in settings I thought I had it correct but mine isn’t the same as yours
Once you've gotten your live funded account with TopStep; would you still be paying the monthly subscription fee according to the funded live account you selected? Thanks...
You don't pay the evaluation/Combine fee but you will have fees. help.futures.topstep.com/hc/en-us/articles/360045068494-What-are-the-costs-in-the-Funded-Account-
I explain it on this recent video on my TradingView profile. If you pop over there follow that page too :) www.tradingview.com/chart/ESU2021/mjLalKSt-Tutorial-Lesson-4-Key-Levels-When-Trading-24-Hour-Markets/
Thanks - we trade it in action everyday in our trade room. Our group has hundreds of traders passing prop programs everyday! We don't use TopStep any more however as the programs from TradeDay, Take Profit Trader, Elite Trader Funding, and other are better. You can check out our room here: tradersdevgroup.com/ptr-10-for-10/
I feel like the scaling plan doesn’t make sense. If in step 1 they allow me to trade 5 contracts then on the 50k account the scaling plan in step 2 only allows me to trade 2 lots. well 1 ES lot is too much size and I risk the loss limits but 2 MES is too little to even make money
You can only have 5 contracts open at any time but you are allowed to open and close as many trades per day as you'd like. Buying 5 and then selling 5 is 10 contracts traded total.
Yes, there are new SIM/practice options from TopStep and several other prop firms since I made that video. Most firms now have a SIM/paper account with the same parameters as the monitored account which is useful too.
Nope, been on Stage 2 for about 4 months. Since I'm putting together a mini-course on prop trading various programs and account sizes, I challenged myself to pass with just micros. Unfortunately, TopStep STILL doesn't treat micros as 1/10 minis, so I'm only able to trade 5 micros. I have gotten live accounts from 3 others programs in the meantime, but since TopStep is so popular, I'm gonna stick with it and will post when funded there.
Just found you. Appreciate your intelligent insights. I Will subscribe and follow you more if you Delete the background music which makes it difficult to concentrate on your good content.
looking at the google doc download, the indicators on there are not available or have been renamed in Trading View. Can you update the google doc file to reflect that with new screen shots of the settings please ?
I have a bunch of videos on my TradingView page on setting up ATR. On any platform, apply the ATR indicator, set the period to 7D (most should allow this even if the chart has a different period), and then make sure your instrument setting for futures are 23/5 or 24/7 to capture all the time the futures stock indices are open. www.tradingview.com/u/RodCasilli/#search-charts=[ATR]
The Tradovate platform has Volume Profile as a drawing tool instead of an indicator. I show how to apply it in this video ua-cam.com/video/QBpNN2v6kSM/v-deo.html
I'm using the Visible Range and Session Volume HD Profile from TradingView and VWAP Standard Bands v2 which you can find in the TradingView public library. I no longer chart or look at Tradovate directly at all except for occasionally managing a position via the DOM
No, the volume profiles on FX are not reliable and they don't exist for CFDs since the feeds are made up by the brokers. Come over to real trading - futures!
Hey Rod, I was talking with Todd about Trading view. We cant find if you can shut off the P/L indicator that shows P/L as you trade. This way i can train concentrating on process rather than make decisions based on what i make or lose in sim. Do you know how to turn that off? i see you can turn off position's but then you cant see where you entered and where to exit.
I don't think you can show a position on the chart and not show the P&L. Overall, trading interface on TradingView is limited. You can't save any settings in the Order Panel or do much else. You might check out Chart settings > Trading and uncheck a bunch of the defaults like Show Positions and Show Orders. Maybe that'll do what you want but I don't think so.
Okay I figured it out. Just uncheck all the boxes in the chart trade settings except for Extend Lines Left and uncheck everything in the Order Panel. You get to both by selecting the Gear.
@@gregwehrmeister4212 you can always test anything using the crypto markets (open 24/7) and the Paper Account. It'll act the same. That's what I did with BTC to see if it worked.
@@futuresfanatic it shows you how new I am to the Biz. I didn’t know that. Also I may not have data for that. I am about two months in with Todd, I am starting to see a weekly consistency of green, I can’t believe it. He has a lot more to teach me and many more strategies, but I have recommended 3 others to him, two signed up. I am telling them you can be a consistent trader and make money at it, just like your phase you said , slow and steady wins the race, very , very true!
Yup, and now been on Step 2 for about 3 months. I joke in my room (but it's not really funny) that it's a major daily dose of trading humility. I'm only trading micros and the sizing restrictions at Topstep are ridiculous. They treat minis the same as micros. Anyway, dem da rules. I'll post when I'm through.
Yeah, that is true. I have slowed down a good deal and moved to intra-day position trading to keep transaction costs down. I have had several mid 5-figure years of futures commissions.
Agreed, lots of rambling. Time stamps in newer videos. Lots of actual daily trading of strategies for prop evaluations in my trade room tradersdevgroup.com/ptr-10-for-10/
Combine Update. I'm eating my own strategy dog food and it's taking a while to get through just Step 1. I'm on Day 19. Balance has been stuck around $52K. Good news is I resisted the temptation to throw on a few full E-minis to push through. Sticking with only micros. I'll provide more updates when I get to Step 2.
thanks for the great videos, are you trading the $50k account combine and your trading on just the micros? isnt that hard/slow on max 5 contracts? thanks
@@samnewzealand Yep, $50K micros only. And yup, it's going to take a while.
@@futuresfanatic awesome thanks mate, why don't you trade es,nq,ym etc?
@@futuresfanatic Im weighing up whether to go for top step trader 10k micros account/50k futures account... or go with earn2trade gauntlet mini. I was all set for Top Step but their max and min contracts on the micros put me off a bit, and earn2trade just came out with a 50% discount ontheir gauntlet mini which apprently you can trade up to 10 micro contracts on that as well, and the 50k account is $85 per month, top step is $110 to $165 per month, account size dependant..
earn2trade say.. " The maximum position size defines how many contracts you can have open at any given time across all positions.
The only exceptions are the following micro contracts: MES, MNQ, MYM, M2K, MGC, which can be traded for up to ten contracts and it'll only count as one contract towards the maximum position size. For example if the max. positions size allows you 3 contracts then you can either trade up to 3 ES, 2 ES & 10 MES, 1 ES & 20 MES or 30 MES."
interested to see your thoughts on this one? and once again thanks for all you do, very helpful for people like me deciding which combine to go with, cheers!
@@samnewzealand Mostly to torture myself. Ha! Actually, I don't think a $1000 weekly drawdown (2%) is reasonable at all with "50K" account so I treat the Combine like a $5K account where I can only trade micros. My self-imposed max DD is $300. My weekly profit objective is $1K so it should take me about 2 months to pass the program. That's about the pace I'm on.
It is nice to get advice from an actual trader. Thank you.
Happy Halloween hahah. Glad I found your content!
Now the rules are so much easier. But it backfired on me trading NQ. Every loss like 300$ or so. Switched to micros like you said and it’s slow and steady. Wish I saw this vid before my combine.
It is extremely difficult to trade any minis given the structure of online prop programs.
Hey Rod, do you still recommend this strategy today to help pass those prop evaluations?
Yes, but with some tweaks for current conditions. I have a lot of ideas on my TradingView page on my prop strategies. www.tradingview.com/u/RodCasilli/
And be sure to grab my 30-video Futures Fanatic course for FREE. tradersdevgroup.com/free-futures-course/
Going for the 150k topstep, I need 9000 in profit to pass. Trading ZB futures at 5 tick risk and 8 tick reward means I'm risking $160 per trade on 1 contract. This means I need a 60% return to pass. Going for a steady 5% per month, I would need 12 months to pass. At $150 per month, that is $1800 minimum in monthly fees.
My question is do I up the size to pass and then scale it back down when passed?
Can you explain how you figure this out?
1. The distance between the developing Value Area High (VAH) and Value Area Low (VAL) must be greater than 50% of the 7-Day Average True Range (ATR) of the instrument traded.
Probably more than I could explain in UA-cam comments. I go into the concepts in detail in my course which I'm giving away free: tradersdevgroup.com/free-futures-course/
Also, I have lessons on ATR and volume profile on my TradingView page. Follow there too. :)
www.tradingview.com/u/rodcasilli
@@futuresfanatic Thanks!
Thanks for all the great videos/content!!
How can I get a copy of document you where going over?
I'll offer one better - grab my entire 25+ video course for free here: tradersdevgroup.com/free-futures-course/
So contract limit of 5 is just for open positions correct? Not total amount of contracts for the day. I just want to be sure because I usually only trade 1 at a time. Maybe 2 during a streak but very rarely
Yes, open contracts and 5 applies to the $50K account. The $100K is 10 open contracts. TopStep also offer a micros only swing trading account.
Excellent video, thank you. Very helpful.
Please consider not having music in the background on the next one.
Noted!
I’m having trouble setting this up on trading view can you type out exactly what to look for in settings I thought I had it correct but mine isn’t the same as yours
docs.google.com/document/d/17kUH1KR4ywb_QoBENn1jRJPl-Bd7hMbnvWyoF_8OFbw/edit
Thank you so much
That's actually quite impressive for trading only a few dozen micros a day.. Wow.
See it in action everyday here: tradersdevgroup.com/ptr-10-for-10/
Once you've gotten your live funded account with TopStep; would you still be paying the monthly subscription fee according to the funded live account you selected? Thanks...
You don't pay the evaluation/Combine fee but you will have fees. help.futures.topstep.com/hc/en-us/articles/360045068494-What-are-the-costs-in-the-Funded-Account-
This company has the best costs/fees after funding and pays for the NinjaTrader license too. ua-cam.com/video/a8sSIbEAZkQ/v-deo.html
Thank you Rod for this and the Google Doc - how are you plotting the dashed lines for VAH & VAL- thank you again
I explain it on this recent video on my TradingView profile. If you pop over there follow that page too :) www.tradingview.com/chart/ESU2021/mjLalKSt-Tutorial-Lesson-4-Key-Levels-When-Trading-24-Hour-Markets/
if only i saw this before would've saved alot of money
Hey dude! Great video and awesome strategy. How's it been going? Would love to get an update from you :)
Thanks - we trade it in action everyday in our trade room. Our group has hundreds of traders passing prop programs everyday! We don't use TopStep any more however as the programs from TradeDay, Take Profit Trader, Elite Trader Funding, and other are better.
You can check out our room here: tradersdevgroup.com/ptr-10-for-10/
I feel like the scaling plan doesn’t make sense. If in step 1 they allow me to trade 5 contracts then on the 50k account the scaling plan in step 2 only allows me to trade 2 lots. well 1 ES lot is too much size and I risk the loss limits but 2 MES is too little to even make money
Nothing about Topstep makes sense anymore. Check out TradeDay. Use code: TRADEDAY25 to save 25% off every recurring subscription.
how are you trading 91 contracts when 5 contracts are the maximum you can trade at a time!
You can only have 5 contracts open at any time but you are allowed to open and close as many trades per day as you'd like. Buying 5 and then selling 5 is 10 contracts traded total.
regarding practice. why just not sub to their 12,95 sim package?
Yes, there are new SIM/practice options from TopStep and several other prop firms since I made that video. Most firms now have a SIM/paper account with the same parameters as the monitored account which is useful too.
@@futuresfanatic sorry didnt take into account the age of the video but however still a usefull tool this sim thing :)
Indian Arrow most likely means the arrowheads they used as they were super sharp and slightly jagged on the edges. 🤓👍
yep, the most pointy profiles with the tapering edges are the best!
Hey mate did you get funded then with Topstep?
Nope, been on Stage 2 for about 4 months. Since I'm putting together a mini-course on prop trading various programs and account sizes, I challenged myself to pass with just micros. Unfortunately, TopStep STILL doesn't treat micros as 1/10 minis, so I'm only able to trade 5 micros. I have gotten live accounts from 3 others programs in the meantime, but since TopStep is so popular, I'm gonna stick with it and will post when funded there.
Just found you. Appreciate your intelligent insights. I Will subscribe and follow you more if you Delete the background music which makes it difficult to concentrate on your good content.
Yup, no more music or VERY low in the mix.
Great content, super video. Thank you Rod!!!
Glad you liked it!
looking at the google doc download, the indicators on there are not available or have been renamed in Trading View. Can you update the google doc file to reflect that with new screen shots of the settings please ?
docs.google.com/document/d/17kUH1KR4ywb_QoBENn1jRJPl-Bd7hMbnvWyoF_8OFbw/edit
@@futuresfanatic much appreciated. 🤙🏼
How do I calculate 7 day ATR for my chart for this setup?
I have a bunch of videos on my TradingView page on setting up ATR. On any platform, apply the ATR indicator, set the period to 7D (most should allow this even if the chart has a different period), and then make sure your instrument setting for futures are 23/5 or 24/7 to capture all the time the futures stock indices are open. www.tradingview.com/u/RodCasilli/#search-charts=[ATR]
Is there any way to put these indicators onto Tradovate instead of using Trading View?
The Tradovate platform has Volume Profile as a drawing tool instead of an indicator. I show how to apply it in this video ua-cam.com/video/QBpNN2v6kSM/v-deo.html
Back for part 2. Wish I’d found you a year ago!
Thank you for the great advice.
Glad it was helpful!
Trade a TopStep Combine with me in a live streaming trade room for free. Find out how: tradersdevgroup.com/prop-promo/
Wish I would have seen step 1 before I bought Topstep 2days ago.
Nice Video Rod! Thanks Man!
What indicator are you useing other then the vol profile one there a ton of range inicators not sure what one to pick
I'm using the Visible Range and Session Volume HD Profile from TradingView and VWAP Standard Bands v2 which you can find in the TradingView public library. I no longer chart or look at Tradovate directly at all except for occasionally managing a position via the DOM
Will this techniques work on forex?
No, the volume profiles on FX are not reliable and they don't exist for CFDs since the feeds are made up by the brokers. Come over to real trading - futures!
@@futuresfanatic thank you for the info - i will be joining you soon using these techniques this week
Just subed due to the "South with your mouth"
Whatever it takes!
Hey Rod, I was talking with Todd about Trading view. We cant find if you can shut off the P/L indicator that shows P/L as you trade. This way i can train concentrating on process rather than make decisions based on what i make or lose in sim. Do you know how to turn that off? i see you can turn off position's but then you cant see where you entered and where to exit.
I don't think you can show a position on the chart and not show the P&L. Overall, trading interface on TradingView is limited. You can't save any settings in the Order Panel or do much else. You might check out Chart settings > Trading and uncheck a bunch of the defaults like Show Positions and Show Orders. Maybe that'll do what you want but I don't think so.
Okay I figured it out. Just uncheck all the boxes in the chart trade settings except for Extend Lines Left and uncheck everything in the Order Panel. You get to both by selecting the Gear.
@@futuresfanatic Thanks ROD! So when the futures market reopens sunday i will give it a shot, thanks!
@@gregwehrmeister4212 you can always test anything using the crypto markets (open 24/7) and the Paper Account. It'll act the same. That's what I did with BTC to see if it worked.
@@futuresfanatic it shows you how new I am to the Biz. I didn’t know that. Also I may not have data for that. I am about two months in with Todd, I am starting to see a weekly consistency of green, I can’t believe it. He has a lot more to teach me and many more strategies, but I have recommended 3 others to him, two signed up. I am telling them you can be a consistent trader and make money at it, just like your phase you said , slow and steady wins the race, very , very true!
Update on Combine? Did you get through Step 1?
Yup, and now been on Step 2 for about 3 months. I joke in my room (but it's not really funny) that it's a major daily dose of trading humility. I'm only trading micros and the sizing restrictions at Topstep are ridiculous. They treat minis the same as micros. Anyway, dem da rules. I'll post when I'm through.
@@futuresfanatic
They should do micros at 1/10 of minis just like they work. However I can see why they don't want to make it too easy.
Yikes, commissions are a killer.
Yeah, that is true. I have slowed down a good deal and moved to intra-day position trading to keep transaction costs down. I have had several mid 5-figure years of futures commissions.
Could be less TALKING and MORE showing!!!!
Agreed, lots of rambling. Time stamps in newer videos. Lots of actual daily trading of strategies for prop evaluations in my trade room tradersdevgroup.com/ptr-10-for-10/