I’ve spent 350$
Hope to achieve a tiny 28x returns on it.
Odds is 3%
(350/(350+10000))
Let’s see
Should I go Pro or Funded account ? TST
- Thread starter Sekiyo
- Start date
I’ve spent 350$
Hope to achieve a tiny 28x returns on it.
Odds is 3%
(350/(350+10000))
Let’s see
If we follow what the professionals here are saying, we should risk < 1%-2% of our capitals on each trade, that means our bet size is < $10-$20 each trade. With such small sum, the overhead slippages and commissions will be a huge % of the trade thus reducing potential returns.
So, for me to get a reasonable size bet I am forced to risk > 2% thus greatly increase my chance of wipeout.
Well no that doesn't mean our bet size is limited, maybe in academia but not in reality. I trade everyday with one goal in mind and that is to be green at the end of day. I don't limit or confine myself within rules that others make. They could just be repeating those rules, because that's what most people say. Also, they may be successful at trading for reasons not even directly related to what they are saying.
I will also give some personal experience:
I've been lucky and fortunate enough to know quite a few long term successful traders and been able to watch them trade live for a substantial amount of time. They all have traded for at least 6+ years as trading being there main source of income / full time job. Four out of the seven that I know, do not use a *1-2%* risk rule. Sure, the other three do use similar rules, they are also the ones that generally tend to make less and aren't as confident in trading what they know despite their long term success.
In no way am I advocating for someone to risk less or risk more. Nor am I saying it isn't a good general rule. Just saying I've seen people do it different ways, so I do not limit myself to what someone else says. Again, you have to find what you know and what works for you.
Yes, I spent $650 on the combine in 3 months but I am up $5000, not bad. I plan to trade with TST for a long long time. I like that I cannot lose more than a fixed amount everyday, which keeps me disciplined.
Appreciate your comments. You are right, we all ended up seeking our own level of risk tolerances. Those who survived long term ended up with some optimum % for them, it depends on their expectancy and Kelly.
I am an amateur retail, full time but not a professional, I classify myself a newbie. I can only speak from my own experience: Whenever I traded >1-2% I regret it.
I am taking trades that I shouldn’t take.
Because I am over betting on them.
5-10K might be enough for scalps,
But I see more in 10s of Pts.
Over betting leads to ruin. Ultimately.
Risk adds up each and every time.
Until a point where it happens.
I set up a trade. It tells me I should bet 6%.
Ok but the risk is 1500$. I have 10K dollars.
I thus bet about 3x what I should maximally.
Hope I can grow the bankroll before being caught.
Luckily.
I plan to withdraw 10K
Open an account and keep the 20%.
Depending on the platform you can set up limits.
Hello ashantt,
Congratulations on your success of passing TST combine and earning a funded account. I am in the 50k combine as well for 3 months. Still in stage 1. I like TST as well and they have good customer support.
Few questions please.
1. Any advice you can share with me towards earning funded account?
Thank you
The only advice I can give you is to trade consistently well day in and day out but also in times like this when the ES is moving 50 points in one hour sometimes to go for it and hold on to your trades and make a huge chunk.
Thanks ashantt, that pretty much sums it. Yes, this market condition is good for holding on the position with a simple trail stop method. Especially for crude oil tonight and this week.