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

Quote from Don Bright:

OK, what's your percentage for backing this guy? Are you going into the "backing traders" business these days?

Just trying for some comic relief my friend....

Don

Don, after looking at some of these performance reports, I would back some of them. At least under the rules and restrictions TST is using. Of course this is cherry picking the winners. That guy that dropped 18k in one day I wouldn't go anywhere near. But that is what this combine is for.

To answer your question seriously, yes, I would. There is something fascinating about this model to me. It's a market within a market. I started that other thread Mav's combine as a way to internally work through the math of how this would work. There are many challenges to it. But Don, if you are asking me if I had to choose between collecting commissions from guys or p&l, I would choose p&l. Commissions, in my humble opinion are going to zero. Where as p&l is asymmetric. The key is to price the risk accurately.
 
Quote from Maverick74:

Don, after looking at some of these performance reports, I would back some of them. At least under the rules and restrictions TST is using. Of course this is cherry picking the winners. That guy that dropped 18k in one day I wouldn't go anywhere near. But that is what this combine is for.

To answer your question seriously, yes, I would. There is something fascinating about this model to me. It's a market within a market. I started that other thread Mav's combine as a way to internally work through the math of how this would work. There are many challenges to it. But Don, if you are asking me if I had to choose between collecting commissions from guys or p&l, I would choose p&l. Commissions, in my humble opinion are going to zero. Where as p&l is asymmetric. The key is to price the risk accurately.

OK, well good luck with the venture.

Don
 
Quote from Don Bright:

OK, well good luck with the venture.

Don

That doesn't qualify as dialogue Don. LOL. Look Don, I know you come here to ET to sell. But not all of us are selling something. Some of us actually like sharing intellectual dialogue with each other. Even if we can only get a few posts in before the trolls show up, sometimes it's valuable. That's all I'm saying.
 
Quote from Maverick74:

That doesn't qualify as dialogue Don. LOL. Look Don, I know you come here to ET to sell. But not all of us are selling something. Some of us actually like sharing intellectual dialogue with each other. Even if we can only get a few posts in before the trolls show up, sometimes it's valuable. That's all I'm saying.

Oh, sorry, was I supposed to offer more in the way of response? You know I can yak forever, LOL.

I prefer "offering" vs. "selling" - like I know I could never "sell" you anything, you are the perfect "cynics' cynic" and I mean that in the good way. You've helped a lot of people here, and I like to think I have as well, without asking for anything in return.

As far a you backing people in the topstep program or anything else, I was simply saying good luck, not challenging you or the firm, or even the trader for that matter.

I have done my best for a long time to offer all the help and intellectual dialogue possible here, other boards, magazine etc.

As you said, many on here have agenda's, and I may be oblivious to some of those agenda's at times, until it starts to appear personal. But, overall, I get about a 10 to one positive response in the long run if I were to guess.....as do you.

I sincerely offered Mr. Patak a solid "good luck" with his venture as well. And, I've been listening to Top Step since near the beginning.... I have to admit, not lately, perhaps they stopped doing their email daily videos? Do you know?

All the best my friend,

Don
 
Quote from Don Bright:

Oh, sorry, was I supposed to offer more in the way of response? You know I can yak forever, LOL.

I prefer "offering" vs. "selling" - like I know I could never "sell" you anything, you are the perfect "cynics' cynic" and I mean that in the good way. You've helped a lot of people here, and I like to think I have as well, without asking for anything in return.

As far a you backing people in the topstep program or anything else, I was simply saying good luck, not challenging you or the firm, or even the trader for that matter.

I have done my best for a long time to offer all the help and intellectual dialogue possible here, other boards, magazine etc.

As you said, many on here have agenda's, and I may be oblivious to some of those agenda's at times, until it starts to appear personal. But, overall, I get about a 10 to one positive response in the long run if I were to guess.....as do you.

I sincerely offered Mr. Patak a solid "good luck" with his venture as well. And, I've been listening to Top Step since near the beginning.... I have to admit, not lately, perhaps they stopped doing their email daily videos? Do you know?

All the best my friend,

Don

Don, I'm not backing anyone. I just wanted the dialogue. LOL. I just wanted to discuss the merits of a commission or fee based model vs a p&l model. LOL. Don, you must have been much more charming when you met your wife for the first time. :)
 
Quote from traderchi128:

Sorry man....but you are dead on about the ES and volatility. Is a huge waste of time. New traders should really want volatility in the markets they trade. If things get insane like they did in the energies today cut your size back.

Think of two chicks sitting in a bar.....Megan Fox (will call her volatility) and Rosie O'donnell (She/It is no volatility). Which one do you want to bring home? Pretty simple right?

Well....new traders should treat trading the same way. Go where the opportunity is. Odds are Megan Fox will do things you could never imagine, while Rosie O'Donnell will sit next you in bed eating a box of donuts bitching about everything.

I actually just re-read this......have no fucking clue if it makes sense......but hopefully people catch my drift.

Hehehe...

Rosie O is a les. She won't be in bed with a guy.
 
Quote from Maverick74:

Don, I'm not backing anyone. I just wanted the dialogue. LOL. I just wanted to discuss the merits of a commission or fee based model vs a p&l model. LOL. Don, you must have been much more charming when you met your wife for the first time. :)

Hey, I'm damn friggin charming all the time, just ask JackDog, LOL.

As a Broker dealer, there will be commissions, and overhead has to be paid, you know all that. I agree that commish has gotten to be so small, that if we factor in overhead, probably breaking even. Good traders simply don't want to share profits, new traders don't know for sure what they want.

I'm an excellent blackjack player, with a decades long track record. Do you want to back me to go play in Monte Carlo? Probably not, and wouldn't take it anyway....no reason to give away my profits to a backer. My brother and I have discussed this many times over the years, as it pertains to trading.

The regulators now ask if Firms have their traders do certain specific trading styles or techniques. We, of course say "no" -- we just teach "stuff" that has proven to work, and let the traders do what they find works for them. Another reason that other firms have been hassled, or soon will be, if they push specifics. This may be new since you left Vtrader. So, we do our best to show what "does" work, and let the traders make their own decisions. Not sure they could or would do that when a backer is involved.

So many new regulations, and as a confirmed Libertarian (right), I'm sure you agree with the " too damn many reg's" crowd.

About time for bed, not feeling well.,...

Don
 
Quote from CoolTraderDude:

No I sent an e-mail...

How the hell am I going to place a take profit order at 1.5010...?

OCO isn't responding... I don't know why...?

Damn your gun is jammed.

Click... Click... Click...

Sux. This is probably not the only problem you will have if and when you go live.
 
Quote from NDJeff02:

You've got 30 days to finish the combine. Just trade in that practice account until you get used to the software before you go ahead and hit your daily loss limit. I've used most of the big futures front-ends and currently use T4 and it's probably the easiest to use. There aren't many bells and whistles with it, it's very straight-forward stuff. Just pick up the phone and call tech support.

Hope the tech support isn't Deepak in Mumbai.
 
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