Day Trading Opportunities for Expats

[Medic Mike]

Hey guys, I wanted to share with you a great day trading opportunity I came across about 6 months ago. I am sharing it now on account I have had a good length of time to evaluate the program. The program is located at www.topsteptrader.com

The way it works is this: The company will sponsor you for your own funded account, to which the first $5000 USD you earn goes directly to you, after that period you get 80% of all profits.

Sounds easy right? Not so fast, you actually have 2 hurdles to jump through before you get to the point where you are earning money. The first is you have to pass what is called a "combine", which is a simulated account with either 10K to 150K in it, to which will cost you from $95 to $375 per month depending on which account you choose. You only need to pay these fees until you pass the first hurdle, after the first hurdle is completed the monthly payments cease.

The second hurdle is very similar to the first hurdle with a couple of differences, you no longer have to pay any fees, and this account is exactly like the one you will be funded with, except it is simulated again. Pass this one, and then you are given a real funded account.

So in short, if you know how to trade you will make money. I am currently making approx 5K per month, and I am only doing it part-time.

The account I choose was a 50K account. I trade the SP500 mini. The rules I must stick to is this while I trade:

I can't lose more than $1000 per day, my account can't draw down below $48,112...other than that, it is up to me how I trade the account.

If you know how to trade, check it out...the program is not widely known. It is a good way to supplement your income while living in country.

 

If you want any more info check out the website.

 

[Dave Hounddriver]

Just one question, Medic Mike, as a forum moderator I need to ask if you have any affiliation with this company or if you get any compensation from others joining at your referral.

Sounds like you are doing great and it sounds like something that others could also try so please let us know if this is just you personally referring a great business idea or something else.  Thanks in advance.

[Medic Mike]

Yep, I have nothing to do with this company. Just thought after doing my own due diligence that members would be interested.

[manofthecoldland]

No offense intended, ol' man, but I equate day trading with commodities trading. From your description it sounds like they have the house edge. I hope you do well and prosper. Good luck.

[Medic Mike]

3 minutes ago, manofthecoldland said:

No offense intended, ol' man, but I equate day trading with commodities trading. From your description it sounds like they have the house edge. I hope you do well and prosper. Good luck.

Not quite sure what you mean by that...bottom line...if you know how to trade, you are going to make money with others peoples money.

I have a slight edge I admit, I have been trading my own account for a long time, however no where near as large as the one I was given.

 

[Sander Martin]

Have you actually had the 5k a month deposited to your bank account?

Sounds like a pyramid scheme. Make alot of no risk gain with a small monthly fee.

[Medic Mike]

Just now, Sander Martin said:

Have you actually had the 5k a month deposited to your bank account?

Sounds like a pyramid scheme. Make alot of no risk gain with a small monthly fee.

This is nothing like a pyramid scheme. It is a straight forward trading account once you qualify for funding. It took me 2 months to fully qualify for funding. My entire cash outlay was $330 USD for the size account I was trying to get funding for. Since funding, I have had 4 straight profitable months so far, I have withdrawn from my trading account just a little over $16,000 USD so far.

 

[manofthecoldland]

'IF' you have been a long time trader, learned the ropes and have a good track record.... and then go through their vetting process to prove your skills, they take you on as a trader with OPM. Nothing wrong with that. They're hiring your skills to invest their asset base and are willing to share the profits you produce. Hedge funds do the same thing. With hedge funds, they use OPM and take a large portion of the gains, but none of the the losses. The investor bears all of the losses.

If you're not putting a large amount of your own personal assets at risk, but reaping the benefits of successful investing.... Yes. But this is not something that people without in-depth experience should try. A lot of people have lost their life savings after taking some day-trader training and seminars and going into this sort of venture. I personally would never recommend it to others unless they were in the financial field and could bear the potential losses.

However, you seem to have found something a bit different with personal loss limits. I doubt if many others on this forum have your skill levels in this matter and could qualify. 

I'm happy for your success and hope all continues to go well. Best wishes.

Edited April 17, 2016 by manofthecoldland
unfinished paragraph

[Medic Mike]

3 minutes ago, manofthecoldland said:

'IF' you have been a long time trader, learned the ropes and have a good track record.... and then go through their vetting process to prove your skills, they take you on as a trader with OPM. Nothing wrong with that. They're hiring your skills to invest their asset base and are willing to share the profits you produce. Hedge funds do the same thing. With hedge funds, they use OPM and take a large portion of the gains, but none of the the losses. The investor bears all of the losses.

If you're not putting a large amount of your own personal assets at risk, but reaping the benefits of successful investing.... Yes. But this is not something that people without in-depth experience should try. A lot of people have lost their life savings after taking some day-trader training and seminars and go

That's what I liked about these guys. They virtually take you on as a "prop trader", however...I have a feeling that the company may be also using the clients account for making their own trades. I must admit I would do the same thing by following another successful account with a good track record.

[Larry45]

On 4/17/2016 at 2:25 AM, Medic Mike said:

That's what I liked about these guys. They virtually take you on as a "prop trader", however...I have a feeling that the company may be also using the clients account for making their own trades. I must admit I would do the same thing by following another successful account with a good track record.

Medic Mike, did they not set your account to balance at zero for the FTP and after you were funded?  Seems weird your max draw down balance was 48,112...maybe an oversight?  It should have balanced at zero after 10 days of trading or your first withdrawal.  

But, I can say from first hand experience that the company Mike mentioned is legit, as I completed their requirements and was funded several months ago.  It didn't work out for me, as the oversight, constraints and compliance was distracting, and frankly, it was much more stressful trading other people's money than I thought it would be.  It's a solid company that can work for certain people, but they make most of their money from the failed combine attempts.  But it's a win/win as the trader only loses $100 or so , instead of several thousands.  Anyways, good luck to Medic Mike...I'm back to trading my own account and managed to learn a little along the way :)