6 months TopStep 50K Net Profits

[Sekiyo]

Out of curiosity, which platform would you most likely use on there? I haven't put much thought/effort into thinking past TST (moving on to step 2 of the combine now), but l would move off TST as well once I've built up a bit of profit and go out on my own. That said, I'm just starting to think about it and what it entails in terms of setting up an account somewhere (like AMP), which platform to use, other 3rd party things. If anything gives me something to research and think about.
All of that preamble, I'd be curious what you are thinking of doing for a platform and anything else you might use?

Great job for leveling up !

Wish I was like you.
I’m often thinking way ahead than necessary.
Most of the time it’s a waste because it didn’t go as planned.

Platform wise I have a favorite: X_Trader
But seriously... I wouldn’t mind to go with anything.

Just need it to be reliable and cheap.

I think about Interactive broker.
But their margins are higher than AMP.
Because they are reliable, versatile and cheap.

I used to want a DOM to trade,
But in the end it’s not necessary...
I used to want Market / Volume profile,
But in the end it’s not necessary neither ...

Might settle for SierraChart or MultiCharts,
They’re free & ES round turn is 3.70 with CQG data feed.

Keep up the good work for Combing #2

 

[p0box4]

Might settle for SierraChart or MultiCharts, they’re free & ES round turn is 3.70 with CQG data feed.

Out of those 2 i can highly suggest SierraChart.

I have been testing both extensively the last few months and SierraChart is just superior to Multicharts. More functionality (in my opinion), awesome documentation on how to use all the features, great dedicated forum if you still should have any issues, very low demanding on the hardware, very easy to create automated strategies, however not extremely advanced if you use their provided spreadsheets (yet these can do more than most people realise), ...

Multicharts is a little bit easier to use but in my experience SierraChart is well worth the time learning how the software works, which isn't that complicated either.

 

[Sekiyo]

Out of those 2 i can highly suggest SierraChart.

I have been testing both extensively the last few months and SierraChart is just superior to Multicharts. More functionality (in my opinion), awesome documentation on how to use all the features, great dedicated forum if you still should have any issues, very low demanding on the hardware, very easy to create automated strategies, however not extremely advanced if you use their provided spreadsheets (yet these can do more than most people realise), ...

Multicharts is a little bit easier to use but in my experience SierraChart is well worth the time learning how the software works, which isn't that complicated either.

Thank you.
That’s what I was reading about.

I’ve just seen they also have their own data feed.
The Denali exchange data feed at 20 USD / month.
Which is equal to 100 contracts traded with the CQG data feed.

Might be interesting.
I believe they root they order via TT.

 

[p0box4]

Thank you.
That’s what I was reading about.

I’ve just seen they also have their own data feed.
The Denali exchange data feed at 20 USD / month.
Which is equal to 100 contracts traded with the CQG data feed.

Might be interesting.
I believe they root they order via TT.

I am currently using CQG with SierraChart. Although i have read they have been having troubles with CQG, i had no issues so far. Not even during this high volatility and very small timeframes.

Funny thing is they have been having "issues" with both GQC and Rithmic since they have their own data feed .

 

[Sekiyo]

Might set either 5K or 10K margin per contract.
It doesn’t pay off to be greedy, long term.
So maybe 1 contract per 10K.

Current ES price is about 3000.
Let’s say 95% of daily deviation < 5%
It’s 150 points or 7500$ risk per day with 1 contract.

Risk of ruin is 5% with 7.5k margin per contract.
For intraday, 5% deviation is min requirement IMO.

This is last 5 years returns for ^SPX

 

[keroppi]

Current ES price is about 3000.
Let’s say 95% of daily deviation < 5%
It’s 150 points or 7500$ risk per day with 1 contract.

Risk of ruin is 5% with 7.5k margin per contract.
For intraday, 5% deviation is min requirement IMO.

This is last 5 years returns for ^SPX
View attachment 221214

Good to keep the margin small to begin with and see how you feel first. You can always change it up later.

Why do you say you don't need DOM or market profile to trade? Wouldn't these be some of the main tools you use?

 

[Sekiyo]

Current ES price is about 3000.
Let’s say 95% of daily deviation < 5%
It’s 150 points or 7500$ risk per day with 1 contract.

Risk of ruin is 5% with 7.5k margin per contract.
For intraday, 5% deviation is min requirement IMO.

This is last 5 years returns for ^SPX
View attachment 221214

This is for SPX return form 1950 to 2019

It reads like...
90% of absolute daily returns are less than 1.44%
or 10% of absolute daily returns are greater than 1.44%

So risk of ruin for 5% margin per contract is around 0,2%
as 99.8% returns are less than 5.13603%

These are the daily absolute returns.
Most of them are < 0.25%

 

[Sekiyo]

Good to keep the margin small to begin with and see how you feel first. You can always change it up later.

Why do you say you don't need DOM or market profile to trade? Wouldn't these be some of the main tools you use?

Yes.
Better start small.
And build up over time.

I do look at DOM and market profile,
But these are extras. It's not the core of my strategy.
These are great for trade management, adjusting entry, exit.
Also it avoid being bored within a trade. There is information but ...
It's not what makes the difference I believe. At least in my trading, after all.

 

[Sekiyo]

This is for SPX return form 1950 to 2019
View attachment 221223

It reads like...
90% of absolute daily returns are less than 1.44%
or 10% of absolute daily returns are greater than 1.44%

So risk of ruin for 5% margin per contract is around 0,2%
as 99.8% returns are less than 5.13603%

These are the daily absolute returns.
Most of them are < 0.25%

View attachment 221226

It's a little bit flawed as it's Close/Open and not High/Low.
--->

 

[keroppi]

It's a little bit flawed as it's Close/Open and not High/Low.
---> View attachment 221229

Interesting stats there. Interesting approach the DOM for trade management too.

Another platform some have suggested to me besides Sierra Charts is Jigsaw. It's a bit costly but I heard positive things about it.

I sent you a message about two weeks ago. Would be interested to hear from you sometime soon