What is your definition of "opm"?
FINALLY passed TopstepTrader's Combine!
- Thread starter JamesEM
- Start date
What is your definition of "opm"?
Other People's Money -> Leverage -> Derivatives
Not sure ....
http://financial-dictionary.thefreedictionary.com/OPM
Jimminy crickets. "Other people's money?" Have we all gone crazy? This part of mine in this thread is going beyond stupid, based on what people are asking me. Why do I need to borrow other people's money to trade one single futures contract? Well, shit... Did anyone borrow anyone else's money to trade 15 contracts? What the heck is the point of the question? It is totally irrelevant to any and every thing here, man. What does "OPM" have to do with anything?!? Handle123 stated he lost $75K in a 15-contract position in ZS.
volente_00 then questions why I need OPM on one contract? What is going on in this thread? WTF, I am lost. So I should use my own money to take a giant position in ZS, but use "OPM" to trade 1 contract in something smaller, like CL or MGC or NQ? What are you saying here guys?
volente_00 then questions why I need OPM on one contract? What is going on in this thread? WTF, I am lost. So I should use my own money to take a giant position in ZS, but use "OPM" to trade 1 contract in something smaller, like CL or MGC or NQ? What are you saying here guys?
Tst = OPM
You are the one saying you can't trade for them because they don't allow overnights ?
You are the one stating just 1 contract ?
Even if they did allow overnight you are forced to start with small size regardless of what combine you pass, so back to my question, why trade opm for only a 1 lot ?
So you held a $4,500 losing position overnight on a single trade comprising 15 contracts? What was the size of your account in those days, and what were the overnight margins (ballpark) on front month soybean futures at that time? How many houses did you have to put up for collateral for your bailout loans because of that particular trade? To the best of your recollection, of course.
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Good for you buddy!Hey all,
After years and years (10 to be precise) of struggle and fleeting success, it would appear that I have now become consistently profitable over the long haul. I've documented the majority of the journey on my blog, with the last 18 months being within the TST program.
I've also decided to host my P&L curve in risk units (R) there too, which is updated via Google Sheets whenever I trade, which is pretty much everyday. Check the top right-hand corner of the blog for the "featured post" which is where you'll find the equity curve.
I'm very aware that people can have long periods of profitability only to have things fall apart (been there, done that and worn the T-shirt MANY times over!!!) but this time, my approach is much more simplistic and is largely mechanical. It feels more robust as the WR is relatively low and the sample size (N) is fairly significant over a decent period of time. Also, there aren't any noticeable outliers so taking out the top 5% of winners and top 5% losers doesn't change the expectancy/drastically change P&L.
Now just have to pass the restrictive Funded Trader Preparation (FTP) at TST and I'll be set.
Feel free to ask any questions you may have. If things get as hostile as I've seen them get on other threads, I'll just excuse myself. Looking for mutually beneficial debate if any at all! Thanks
Which combine did you do? 50K, 30k?
I guess to each his own.
Incorrect. You have as long as you need now. Just have to manage risk.