Maverick74 and marketsurfer's TopstepTrader Combine (daily trade reports and journal)

[Maverick74]

Quote from Pekelo:

You do realize that your participation doesn't prove anything either way??? In short, you are wasting your time.... Just so you know....

I wasn't trying to prove anything. I was asked to do this and I did. Had I said no we would have had a 500 page thread on why I was refusing to do it. It was easier just to do it.

 

[baggerlord]

Quote from Pekelo:

You do realize that your participation doesn't prove anything either way??? In short, you are wasting your time.... Just so you know....

Well it proves he's not afraid to be tested, unlike most on here that like to present themselves as professionals.

 

[Pekelo]

Quote from baggerlord:

Well it proves he's not afraid to be tested,

The way he reasoned, it sounded he is trying to prove that TST is not a scam...

 

[nkhoi]

Quote from Maverick74:

Domestic, I spend minutes a day on this. ...

for you it takes a few minutes but for other it takes whole day. It all depends on how skilled you are.

 

[kiwi_trader]

I've enjoyed the thread so far. To my surprise I got an insight from one of the participants that has enhanced my trading - the first time that's happened on a board in several years.

I also enjoyed marketsurfer doing pretty much what would be expected of him ... and then going into anti-ta rants.

Interesting to see Mav and Austin carry on.

 

[Simex]

Quote from TST_Hoag:

Marketsurfer Day 8 Trade Reports:

Maverick74 Day 7 Trade Reports:

please publish these in a larger size, I can only open 180*165 pixels, and they are obviously unreadable, cheers

 

[cornix]

Quote from Mike805:


None of the metrics for trader evaluation are reasonable. I say this as I can provide a track record trading futures (YM, ES, US, CL, TY) profitably for the last 4 years. These are efficient and difficult markets that require substantial skill. Anything over 20% yearly is fantastic IMO and to consistently make $3500 in 10 days with a $1000 loss limit is pure bullshit.

All futures markets test the trader, that's the idea.... pain is what one has to handle to trade these markets successfully. If this competition was even slightly reasonable (e.g. run by successful traders), the parameters would be negatively skewed R/R over a 3 month period. As in a 3500 draw for a 3500 profit AT A MINIMUM.

This is what I mean: say you have 100k. 20k for the year is good return. 60% profitable months is a good risk measure. a 3-1 return to draw is a very good ratio.... so to achieve 20k in profit, seeing a 6.3k drawdown is very reasonable. So one is going to see 3500 draws all the time... even when reaching for a somewhat *modest* 20% return.

LOL ... This setup is just a way for TST to collect monthly fees guys. Very few professional managed futures funds can even come close to 20% a year... let alone the numbers TST is screening with.

Interesting post. So 20% yearly consistent is considered to be a good % return by most people?

 

[icarus618]

Quote from austinp:

How much higher is unstated, but I'd assume if one is steadily profitable and consistent for a reasonable period of time, that amount would increase substantially.

I'm old enough now where I don't look too far ahead of the near-term goals. When I started out with this venture, my first objective was to finish net-profitable. I'll make that happen.

Next would be to qualify for funding. We'll see how that unfolds. Then reach +$30,000 real-money gains. Then go from there.

But first things first... I have five sessions left to reach $162,000+ and balance the win/loss ratio of trades. Nothing else matters to me in this exercise for now.

I didn't get your reference to the "$30,000 real-money gains" until just now after reading the funding requirements on the TST site. I was in error in my post to you about the assumed 80/20 split which is the case only after $30K in profit is accumulated in the account. The starting split is actually 60/40, which is a nonstarter to anyone with their own funds.

Personally, I do not see why anyone would accumulate $30K in his account for an 80/20 split when he can go to numerous brokers with that amount and trade the same number of contracts (15) or more and keep 100%. Indeed, the deal is rather laughable when you consider all the restrictions AND that only the trader's money would be at risk AND that he would get charged shitty rates AND that he would fork over 20% for the privilege.

I am all for getting a "free ride" account but I don't see a free ride here. It's just a crappy deal that gives hope to the broke dreamers and to the desperate. Since you seem to be aware of these terms, I am very curious why you think this is a deal worth pursuing. Maybe I am missing something.

I've attached a screenshot of the firm's profit split page.

 

[Topsurfi]

Quote from Maverick74:
It blows my mind that so many otherwise mature and intelligent adults have to resort to this behavior day in and day out.

I agree - its such a shame. The thread was spoiled like so many other threads. Maybe it would make sense to open threads where only certain people are allowed to post. That would leave the thread clean and you can focus on what you are interested in.
I think trading unfortunately allocates a lot of failed and angry people as it seems.
I could never take part in such a combine as it would affect my real trading, not so much regarding the time I need but more the psychological effects. Thats why I stopped posting anything about my current trades somewhere because it effects the way I will exit them.
So at least my respect to Mav and Surfer for taking part in this.
Greets from Germany.

 

[austinp]

Quote from icarus618:

Personally, I do not see why anyone would accumulate $30K in his account for an 80/20 split when he can go to numerous brokers with that amount and trade the same number of contracts (15) or more and keep 100%. Indeed, the deal is rather laughable when you consider all the restrictions AND that only the trader's money would be at risk AND that he would get charged shitty rates AND that he would fork over 20% for the privilege.

I am all for getting a "free ride" account but I don't see a free ride here. It's just a crappy deal that gives hope to the broke dreamers and to the desperate. Since you seem to be aware of these terms, I am very curious why you think this is a deal worth pursuing. Maybe I am missing something.

What you're missing is the part about upside negotiable clause. Let's say after six month's of trading and +$10,000 per month average profits, the leverage doubles to 30 contracts. After one year and similar steady growth, leverage doubles to 60 contracts. Or more.

Bottom line it is free money to work with... alongside one's own. How hard is it for people to grasp it's not an either/or thing? If you don't think you can make at least +$30,000 to reach the 80% mark, why even bother applying in the first place?

Lastly, why do so many people here in the thread with zero personal intentions of being involved waste so much of their own precious time and energy posting? It'd be like me frequenting a thread about trading stock pairs or gamma scalping options or anything else I couldn't care less about.

Obviously I've given this whole process a lot of thought and consideration before dedicating some of my time and energy to it. Unlike most of the people wasting their time = lives here, I have a reason for doing so.

Nobody has time to waste in life... unless they are completely lifeless and empty. Think about that for a minute. What kind of guy spends endless hours in this site obsessing over who, what and where? How empty and pathetic is that daily existence they endure?