Cooltraderdude's TopstepTrader Combine (daily trade report and journal)

[kinggyppo]

Quote from MichaelPatak:

My post on twitter is to show who is up the most money ONLY. It does not mean anything more than that. We all have had a great day in trading. It is who has consistency over time that counts. We also are scouting for those that are meeting performance requirements which show basic proper trading mechanics.

Some recruits will have a 10k day then spend the rest of the Combine giving it back (we all done this at some point or another with our live trading I would bet).. some other recruits have wild ups and wild downs and hit the loss limit on the downs thus dq'ing (disqualifying) them from getting selected for funding for their performance during that specific Combine.

I share this on my twitter usually each day but have been slacking in the last week or so due to how busy I am. It is only when I walk by our risk desk that I get the chance to snap these. Will do it more for you guys.

Follow me on twitter @michaelpatak and you will stay abreast.

mp

good post, so in market wizards (can't remember where) they talk about a beginning trader whose job it is to keep getting out when they are wrong. I think they were trying to get the "cut losers" to be like a reflex. I find it interesting that this strategy is still being implemented in the electronic age with hft and all that. carry on.

 

[marketsurfer]

Quote from Maverick74:

It's one of the ET traders who thinks stops are for sissies. As Michael said, this is what happens when you don't enforce rules on traders. The scary thing is, that guy that lost 18k is looking for someone to back him/her. :eek:

Niederhoffer? :eek:

 

[Maverick74]

Hey CTD, how did you end up today?

 

[ScalperJoe]

Quote from hitnrun:

trading crude is where the money is these days for tst traders Lol

most traders do make money on sim , not sure what's happening with ctd , still early in the game

hitnrun,

Agreed, crude had some decent plays. The op who claims traders are making "blanket statements" on what to trade is missing the point.

One approach to passing the combine is to watch a product that has good volatility and time it accordingly. Given the $350/avg daily profit requirement, there isn't much room for error if you waste a day or two trading a sloppy non-volatile market.

 

[ScalperJoe]

Quote from MichaelPatak:


We have classes going on each day for one hour that can benefit as well (http://www.topsteptrader.com/FuturesTradingClasses) (FREE)

mp

Can a trader sign up for the 14-day trial and attend the classes before joining the combine, or is it only for those who are already in the combine? The site says the open forum is only on Fridays.

 

[Maverick74]

Looks like another new trader got funded. Trading Crude.

http://www.topsteptrader.com/fundedtradereport

 

[lilbit]

I know you must feel like you are under the microscope Cool, but just a quick question;
If you have not traded futures at all and come from 10+ years of trading, why didn't you take a week or so trading in the practice account to learn the platform and also play around with crude or ES to see what you would want to go "live" with in your SIM account?
You can still do this actually, since you have 27 trading days left to complete 7 days of trading.
Good Luck to you and also a quick thank you to Micheal for running this so everyone could follow.

 

[volente_00]

Quote from Maverick74:

Wait a minute Jose. You said no one was passing the combine. You said TST is making a killing collecting fees because 99% of their guys would never get a refund. Now you're doing a complete 180. So you actually DO agree with me then that most of the guys are getting refunds and therefore TST is NOT collecting all these fees and making a killing. Is that the story you are going with now Paco? You can't have it both ways.

Show me where I said no one was passing. I said 3-5% will pass the combine.


Of those 3-5%, 95-98% will eventually get sent back to combine


27 live traders out of a minimum of 5400 combine payees



Show me where my math is wrong

 

[kinggyppo]

Quote from MichaelPatak:

volente_00- Lets calm down. I show these daily on my twitter account (or try to update it daily).

The image below shows our biggest losing Combine accounts (those with loss limits, the ones without loss limits are practice accounts).. As scouts we see positive in this image, as a majority of the recruits are shutting it down BEFORE hitting their loss limit. Doing this day in and day out INSTILLS discipline. We instill discipline and help people recognize when they need to shut it down.

https://twitter.com/MichaelPatak/status/248486834940813312/photo/1/large

mp

ps. look at the person without a loss limit (-$18k for the day?!).... Loss limits are there to protect you and give you the opportunity to live to trade another day..

lastly anyone help with making this an image rather than a link? mav I liked how you did it?

regarding pics when you want to post an image, when you reply or post you should see "choose File" there is a list of file types that can be uploaded, almost everything but bmp. see attached

 

[MichaelPatak]

Quote from kinggyppo:

good post, so in market wizards (can't remember where) they talk about a beginning trader whose job it is to keep getting out when they are wrong. I think they were trying to get the "cut losers" to be like a reflex. I find it interesting that this strategy is still being implemented in the electronic age with hft and all that. carry on.

kinggyppo... consistently we tell our recruits to manage their downside and protect themselves at all times. So many traders only focus on the upside that they forget what can take them out of the game and that is letting the downside get away from them.

mp