You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Cooltraderdude's TopstepTrader Combine (daily trade report and journal)
- Thread starter TST_Hoag
- Start date
Quote from ammo:
so after 50 posts defending topstep and 3 posts telling folks to self fund, you are going to go with the self fund argument,i didn't actually count if you want to split hairs,you win,but the gist is go topstep,fess up or change the subject to velocity..am are we changing the subject
Jesus are you dumb as a post. I absolutely recommend Topstep for the "combine". But as we have discussed here endlessly, 99% of these guys will
NEVER NEVER NEVER EVER qualify. So what the flying fuck are they suppose to do? Trade the combine till they are 90 and drop dead? No, at some point, a guy is going to either become consistent and disciplined and "marginally" profitable where he might as well go off and self fund or, or, or he will come to the conclusion as cool trader dude did, that they should probably hang it up. Some guys will come to that conclusion after one combine, some probably after 5 or 6. Ammo, you really have some mental issues man. ALL of this. ALL, has been discussed on here ad nauseam. This is not page 2 of the thread. It's like page 560. Get with the program here.
Ammo, look, I'm sorry. Not trying to bite your head off here. I just am frustrated because I always thought you were smarter then this. Maybe this is an off night for you. I have gone through this now 100 times. Traders for all practical purposes have 3 avenues to go down. Polish up their resume and go apply to all the top futures firms in Chicago. This is GREAT if you LIVE here. If you live in Ohio, maybe not so great.
Second option is to self fund. I do not recommend anyone self funding until they know they can make money. The problem with futures vs stock or options is that they are BIG contracts. Even trading one lots you can burn through 5k a week. Most guys on here are not swimming in money. They might have 5k 10k or 20k to their name.
The 3rd avenue is a sim. Now, most guys do NOT, absolutely DO NOT have the self discipline to hold themselves accountable on a sim. You and I both can agree that they should, but they don't. Just as most people can't stop shoving big macs in their mouth. We have a population that is almost 40% obese!!!!! We have NO SELF CONTROL. So these people need an "outside force" to act upon them to enforce discipline. I know they should be able to do this on their own, but they can't. Just as they can't stop eating.
But those are the three choices. It's slim pickings out there. I have been as honest and genuine as I possibly can having worked in this business for over a decade in almost every fashion. I have seen all the guys blow out. I have seen the broken marriages. I have seen the suicide attempts. I have seen the bankruptcies. It's very real to me because many of these people I call my friends. I am trying as god as my witness to lay out what I absolutely feel is a pragmatic approach to being successful in this business.
Second option is to self fund. I do not recommend anyone self funding until they know they can make money. The problem with futures vs stock or options is that they are BIG contracts. Even trading one lots you can burn through 5k a week. Most guys on here are not swimming in money. They might have 5k 10k or 20k to their name.
The 3rd avenue is a sim. Now, most guys do NOT, absolutely DO NOT have the self discipline to hold themselves accountable on a sim. You and I both can agree that they should, but they don't. Just as most people can't stop shoving big macs in their mouth. We have a population that is almost 40% obese!!!!! We have NO SELF CONTROL. So these people need an "outside force" to act upon them to enforce discipline. I know they should be able to do this on their own, but they can't. Just as they can't stop eating.
But those are the three choices. It's slim pickings out there. I have been as honest and genuine as I possibly can having worked in this business for over a decade in almost every fashion. I have seen all the guys blow out. I have seen the broken marriages. I have seen the suicide attempts. I have seen the bankruptcies. It's very real to me because many of these people I call my friends. I am trying as god as my witness to lay out what I absolutely feel is a pragmatic approach to being successful in this business.
Quote from Maverick74:
We have NO SELF CONTROL. no offense taken mav, i personally don't allow myself to judge,as a side bonus, that allows me not to be offended,so in that lite please don;t be offended,none intended.. traders only have one avenue, call it acd, market profile, candle sticks,bollinger, moons,when your cat's in heat, doesn't matter, apply it til you can read it successfully repetitively, then trade with real money..anything else is just gambling on a coin flip..and no combine is going to teach that, and if they are collecting money , they certainly won't discourage the lack of that knowledge
Quote from ammo:
Quote from Maverick74:
We have NO SELF CONTROL. no offense taken mav, i personally don't allow myself to judge,as a side bonus, that allows me not to be offended,so in that lite please don;t be offended,none intended
So what exactly is your point? I don't get it. What exactly do YOU think someone should do? I'm all ears. I gave you my best advice. Let's hear yours. You have the floor.
Let's use a real example. That guy Lucias. He sent me 600 e-mails asking me to back him. So here is his deal. He has 2k to his name. He is running a service on Collective2. He wants to trade futures. He thinks he is a super star trader. He is young. And broke. Now I gave this kid a lot of advice over e-mail. Tell him what he should do. Let's see where we go with this.
have him send you his trade ideas, get long here real time ,cover here,why did ya cover,by sending you ,committing to a reason on each trade,unknowingly you are forcing him to discipline himself, the thing he thinks you have and he doesn't(wizard of oz),he will transform into ,i don't need mav, i am doing this all on my own,sometimes just the slightest pebble out of place can change the direction of things, problem is most folks spend a lot of time making sure those pebbles don't move,lot's of people spend their whole life in little grooves,traders have to let go of that
Quote from ammo:
have him send you his trade ideas, get long here real time ,cover here,why,by sending you ,commiting to a reason on each trade,unknowingly you are forcing him to discipline himself, the thing he thinks you have and he doesn't(wizard of oz),he will transform into ,i don't need mav, i am doing this all on my own,sometimes just the slightest pebble out of place can change the direction of things, problem is most folks spend a lot of time making sure thiose pebbles don't move,lota of people spend their whole life in little grooves
That sounds like gobbly gook to me. I'm not going to have him send his trades to me. Dude, I get 5 hours a sleep a day as it is. If I'm going to give back to the community I'll help the homeless guy that is 2 hours from death on the streets of Chicago. I'm not going to waste my time watching his trades. And what is that going to do for him? He claims he is making 100% a year all documented on Collective2. What should he do? You going to tell him to open a 2k futures account? Are you going to do that with a straight face? I give him 36 hours hours before it goes to zero and he is auto liquidated. You sound like a politician. No practical solution. The facts are, he has 2k and I have no interest in helping him. He already has a website. Hell the f*cking guy is actually selling services. Dead serious, he is selling his trading systems. He is desperate to raise cash. Give him a REAL WORLD solution.
that is real world,open all the doors,know a guy from bridgeport,grew up poor,clerked on cboe in the 80's,sold his car ,rented a seat,probably 2500 a month back then,started trading and made it,not a genius, just a very disciplined guy,had a dream, started small and made it,discipline and i can are all you need, market is pretty simple,ya think spus are worth 35 less than 2 weeks ago,25 more than a month ago,it's just a charade,learn to dance once in awhile and sit the rest of the time,people are not as bright as they think, self included,once you remove yourself, in his case the self says i can't because of 2k,or mav won't back me, or my girlfriend,or religion,or he's too tall,the rationalizations are endless..,by sending them to you, he has raised his discipline because he respects you,your a guy who made it,i don't want mav to think i'm an idiot,he has raised his discipline whether you read those pm's or not..and he did it on his own ..
Quote from ammo:
that is real world,open all the doors,know a guy from bridgeport,grew up poor,clerked on cboe in the 80's,sold his car ,rented a seat,probably 2500 a month back then,started trading and made it,not a genius, just a very disciplined guy,had a dream, started small and made it,discipline and i can are all you need, market is pretty simple,ya think spus are worth 35 less than 2 weeks ago,25 more than a month ago,it's just a charade,learn to dance once in awhile and sit the rest of the time,people are not as bright as they think, self included,once you remove yourself, in his case the self says i can't because of 2k,or mav won't back me, or my girlfriend,or religion,or he's too tall,the rationalizations are endless
Dude, no offense but you sound like Obama. I gave you the facts and you are dancing around the story. This kid is coming to you begging for advice. Give it to him. He doesn't want to hear about some guy from the 80's. See, this is the problem, just like a politician, when push comes to shove, you have no solution except story telling. He doesn't need to hear a story. And this here is the problem, you have nothing to offer these guys. So you shoot down my advice because of some hairball conspiracy theories but when I turn the table and put the ball in your court, it suddenly becomes storytelling hour at the local children's library. I have been in this business for over a decade Ammo. I have been helping guys for over a decade. Some guys I got them interviews at solid prop firms. Others I got them salaried jobs at good firms. Some guys I have helped find backing. Other guys I have given the best advice on which firms to join. But regardless, I have ALWAYS offered real solutions to people. And this is the difference between you and me. You have NO solution for these people.