I don't know... this has been quite amusing without him! I still hope he's doing well, but it's fun all the same.
10 Days With TopStepTrader
- Thread starter austinp
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I don't know... this has been quite amusing without him! I still hope he's doing well, but it's fun all the same.
A vendor is someone who sells their trading ideas/education, so many et members get pissed when someone says I just won on my last 30 trades in a row, by the way I will sell my signals for x dollars per month, quite a few people doing that here. A blatant example would be posting a link to a paying subscription site. You can pay the site to be a sponsor I believe which is another issue.
I finished this combine net profitable, but unsuccessful to qualify for review. There was never any question about ending profitable to some degree⦠just a matter of operating inside the combine limits or not. Profitable ending part was assured.
The trade management strategy I attempted from early on was to work from a rather fast setting chart for precision type entries using 2 and 3 contracts split across spread fills where it makes technical sense. Also, I attempted to trade pause-pullback entry fills around key S/R values.
That strategy to manage 5-lot and 10-lot size failed to work. In the sideways erratic nature of recent price action, the deliberate entry attempts at key S/R zones went unfilled as price blew thru and sailed away repeatedly. Also, the relatively fast charts didnât provide precision signals, they still got blown away on fill attempts or worse, chopped in sideways ranges.
Aug 9th began with $900+ peak equity early
Aug 12th began with $900+ peak equity early
Aug 13th began with $600+ peak equity early
Then each day proceeded to blow thru entry attempts unfilled, and or chopped trade attempts in between unfilled orders.
So the max drawdown was reached Aug 13th that negated review of this combine.
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At that time it was clear my initial strategy to work this program was incorrect on several fronts. P&L explained that to me quite clearly. So the adjustments I made were changing chart to slower relative setting (500 volume) and splitting orders 4-lot / 6-lot around fewer signals. I also went with 100% momentum breakout entries and nixed the pullback attempts which clearly do not work in explosive CL tapes at this present time.
End result of those simple adjustments was $9,000+ added from trough low draw to this morning prior to midday CL selloff dive. Had I traded further today into that signaled move, add $5,000 or more to end tally there.
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Iâll trade one more combine program, sometime in early September past Labor Day. Too busy with other tasks right now until then the way it stands tonight, subject to change. If I work with TST in that effort, will report here on a daily basis but if not, will report on a week-end basis each Friday.
I donât personally prefer to chronicle daily performance because it errantly places too much emphasis on each dayâs outcome which means nothing at all. Less than nothing, actually. I focus on weekly and monthly results. Focus on daily results will result in too much emotional angst for any trader, imo
But either way is fine and Iâll be sure to chronicle the process here (and elsewhere) from start and finish.
So thatâs how it went. Will be back with a 100k or 150k campaign in the manner described above. I like my chances very much of running the trade entry/orders in exact same mode that final three sessions were executed. Taking losses on 4-lots at -10 cent stops or taking profits on 10-lots for much more than that
Quote from austinp:
I finished this combine net profitable, ..
that's good enough for me...i think it's time to lay off austin
3% in 10 days, no that's impossible. Day traders never make that kind of money, you can't possibly do it with TA, look at all the hedge fund pros, and you know, everybody you can think of.
No, no, he must have been using Price Drivers, there's no other way.
No, no, he must have been using Price Drivers, there's no other way.
In my book you are fine, because you finished in the money, but according to TST and the combine rules, you failed miserably, by the parameters. This is actually an excellent example. You had 3 red parameters, and only allowed 1.
Not to mention you broke both the daily max. and the max. DD. (those are the ones that actually make sense) But you promised us you wouldn't do such a thing!! Between you and me that promise was silly anyway.
But hey, at least the trading Duration was green....
Oh yes, I wonder if you got special treatment, because your combine should have ended when you broke the max. DD and the daily loss limit...
Edit: The more I think about this, you actually should have been stopped trading on the 13th, with a 5K loss. I think they overrode the system for your sake....
1) On Thursday August 8th, when you had 13 consecutive losing trades and still managed to be up $150 for the day, you're certainly not a "quitter".
2) Once you have more than ~12 losing trades, overall, on the day, you seem to be going into a "downward spiral". With the certainty and clarity of hindsight, if you can stop trading sooner, you ought to be able to keep "the hole" shallow instead of it getting deeper.
Hey Austin:
Nice finish but I do have one question. Knowing that the daily loss limit was 2k why didnât you quit trading for the day when a loss on your next trade would put you over the limit?
Was this a lack of discipline on your part? Perhaps you could walk us thru that particular day and let us know your thought process.
Nice finish but I do have one question. Knowing that the daily loss limit was 2k why didnât you quit trading for the day when a loss on your next trade would put you over the limit?
Was this a lack of discipline on your part? Perhaps you could walk us thru that particular day and let us know your thought process.
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