Patak, math and opportunity....

also appears profits are taken at about 8-10 ticks if a decent run starts. Everytime I get to that level, it seems to reverse and eat up all the profit with a selloff. Need to start exiting or flipping at 10.

One thing that is proving difficult is getting back on the right side of the market if you get thrown off. I can do this much easier in stocks. Strange because the methods are pretty much the same. I guess it is easier with my stocks because I have followed the markets longer and have developed a "feel" for them. I have yet to do that with the futures mkts I am watching.
 
Quote from Pekelo:

From a backer's POV, that doesn't really make sense. The number of winning days doesn't really contribute to the bottomline, the eventual profit. One can have 70% small winning days and a few huge losing days, and vica versa.

Rules like that make me question the legitimacy of their whole approach...It doesn't look like they are really looking for good traders....
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No matter how they draft the rules, the bottom line for a trader who views this program is to ask the following:

1. Can I do this?
2. What are the alternatives?

It's a numbers game. If they have enough traders who take the challenge, then eventually they will find good traders. Whether the rules make sense from the backer's POV is up to them. The trader only has to focus on which combine to take, and what approach they will use to pass.
 
Quote from ScalperJoe:

Whether the rules make sense from the backer's POV is up to them. The trader only has to focus on which combine to take, and what approach they will use to pass.
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True, but when they have rules that don't make sense at all, a logical would be Combiner might decide that they are just after his fees and they don't really intend to back good traders...

Also, does it make sense to base the backer's amount on one's willingness to pay more instead of the stability of his trading?
 
I have done extensive research on my own for my own situation. The conclusion I have come to is that TST is NOT a scam. It is a wonderful business plan with the combine serving as a brilliant direct marketing tool. It is not a scam because the do what they say they will and back a successful combine graduate. That is not the beauty of their business model though. Out of respect for their business I will refrain from my full reasoning. That's not to say my reasoning comes to a negative conclusion. I think the outcome is based on ones own personal objective and realistic expectations. I will still most likely try the combine soon.

On a different note....I am really enjoying futures! I have been playing with many things on the T4 platform and experimenting with different executions. Some of these I feel are poor executions, but I try them anyway in order to see the results. Sometimes things you don't think would work well, do. Thats why you have to experiment. My results are inconsistent due to this. Once I drill down to and select my method, I will try the combine.

Have become familiar with crude and enjoying that market as well.

Thanks guys,
J.

P.S.---the T4 platform works very well for basic execution, but beyond that I would think a more advanced platform such as Ninja would be more beneficial.
 
Quote from Pekelo:

True, but when they have rules that don't make sense at all, a logical would be Combiner might decide that they are just after his fees and they don't really intend to back good traders...

Also, does it make sense to base the backer's amount on one's willingness to pay more instead of the stability of his trading?
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Right, that's why I've asked if they would approve a customized objective (i.e. to change their rules) to allow a trader the ability to trade more than 10 days if needed. The other workaround as discussed was to lower the profit objective in exchange for a higher % of profitable days.

Regarding your question, I don't think charging a tiered amount makes sense when it's a sim account, unless there is an incremental cost of running data for someone who trades 3 lots vs. 10 lots, which I doubt. Personally, I would charge a fixed fee to enter, then let the trader decide on the choice of lot size and risk parameters.
 
Quote from Jtrader342:

I have done extensive research on my own for my own situation. The conclusion I have come to is that TST is NOT a scam. It is a wonderful business plan with the combine serving as a brilliant direct marketing tool. It is not a scam because the do what they say they will and back a successful combine graduate.
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Agreed, if you pay for the combine and pass, then you're getting a live account for a much lower capital outlay than opening your own retail account, with the benefit of a structured trading plan with specific risk parameters which you may or may not follow if you traded your own account.

Nothing is stopping you from trading your own retail account at a later point if you feel it's not worth paying the 40% haircut.
 
I actually feel that their parameters are NOT too restrictive, but actually very achievable once you begin to see the trading style they are looking for. In fact, I would dare to say they are quite tolerant. Again, if you discover and trade in the manner they are looking for, there is ALOT of potential here. Also, if you are trading in this manner, there is no reason you should obtain less than the 80/20 split and be able to hold above that requirement in a fairly quick fashion. I beleive their business plan is directed towards two objectives, finding quality traders and marketing to the rest.

Think I may try the combine Tues or so. Getting some internet issues worked out at the house tomorrow and may have one or two questions to call them about first.

Thanks,
J
 
Quote from Jtrader342:

also appears profits are taken at about 8-10 ticks if a decent run starts. Everytime I get to that level, it seems to reverse and eat up all the profit with a selloff. Need to start exiting or flipping at 10.

One thing that is proving difficult is getting back on the right side of the market if you get thrown off. I can do this much easier in stocks. Strange because the methods are pretty much the same. I guess it is easier with my stocks because I have followed the markets longer and have developed a "feel" for them. I have yet to do that with the futures mkts I am watching.
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As a stock trader, I can definitely agree that futures are a totally different animal. I think the reason you feel it's "much easier in stocks" is due to the amount of leverage you're used to. Keep reminding yourself when you're trading 1 lot of Aussie, for example, you're trading one thousand shares of stock, and then it's easier to put the p&l in perspective. And if you're trading 3 lots of CL and seeing $30 swings with each tick, it's like you're trading a very volatile stock with 3,000 shares, and that stock can have 3 to 4 point moves intraday.
 
It is the same game as long as you understand how contracts affect risk vs individual stocks and how to account for it. 2% risk is 2% risk no matter what your trading. As long as you can calculate that, determine your parameters, and stick to them, your good. Many of the same methods and strategies apply. The leverage makes no difference as long as you account for it.

I have adapted a few strategies and they seem to work in the same manner, just MUCH more lucrative.

I am now knowledgeable and aware of futures, but no longer concerned to trade them. It all works the same, just a little different math....


Thanks,
J
 
Quote from Jtrader342:


Think I may try the combine Tues or so.
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Combines start on Mondays. Also, you can only state it is not a scam if you had been a live trader for 2-3 months and you pulled at least 1 check from them. :)

Quote from Jtrader342:

I actually feel that their parameters are NOT too restrictive,
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Since the % of winning days doesn't add to the bottomline (of profitability) it is unnecessary thus having a rule about it is too restrictive...

Also if you traded one instrument, why do you have to trade it all the time afterwards???
 
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