topsteptrader combine for Oraclewizard77

[Zr1Trader]

Quote from SteveH:

You want to treat the market like a casino treats its paying customers.

However, YOU are TST's paying customers. The STRINGENT RULES are in place for them to have the OVERWHELMING EDGE and treat YOU like a casino. As a prospective employee, YOU DON'T PAY YOUR FUTURE EMPLOYER TO GET A JOB! IF YOU DO THEN >>>YOU<<< ARE THEIR JOB! [And I don't mean that in the sense of some pct cut for trading Other People's Money.]

Most of you are too young to remember "The Waltons" episode where a company is eager to publish John Boy's stories. He finds out, after it's too late, that HE HAS TO PAY the publishing costs for the books! So, of course they were eager. They'll print books for anyone who pays to have them printed!

You hard heads won't listen to Donna. Take 100% responsibility for your risk and you will receive 100% of the reward. Use the time you don't have 10K of excess cash to your name to save and spend some seed money on real-time data to trade ONE Crude futures contract. If it takes 2-3 years (or more) to find your edge and take command of your emotions, so what?! It's a done deal after that and then your only job is to FLAWLESSLY EXECUTE your trades, win or lose, and collect the positive residuals which accumulate over time. This is true investing in yourself.

+1

Everyone already has enough leverage in futures or FX to blow them self up or to success.

The value I can see in TST is teaching someone to follow rules with discipline. Otherwise, I don't see any other point to it.

People can teach themselves discipline for free in SIM provided they don't cheat themselves by cheating.

Maybe by paying for it they take it more seriously therefore value is found on their side of the trade.

 

[Crispy]

Quote from Lucrum:

To be honest, flirting with the loss limit is precisely why I haven't passed a combine before.

It would behoove you to take their daily loss limit and cut that in half. The way I understand the new rules, you have as many days as you need. There are just a minimum amount of days to actually trade. No need to rush. When I passed I had 20 days only, win lose or draw. Take it slow and low....at least work on a rollover so you get the freebie

 

[satchel]

Nothing in this thread appears to have anything to do with a casino, let oraclewizard do his thing (As to the 1 lot CL..the very contract new traders shouldn't trade...Is your reference to the same No Doji that took 1 lot CL 10K account to 100K in a year, that claim? Proof?)

You guys keep pulling out this tired argument, what employer charges you to apply.

TST has already responded to this. Anything in these quotes sound fishy to you?

Quote from MichaelPatak:
...
The Combine is our way of evaluating traders who can trade todays market. Many traders send their track records into prop firms or say they can trade. We simply ask, don’t tell us show us. This was the reason for the Combine. Track records of how great you where a year ago or whatever say nothing about how good you are today. This is also how many of the prop firms evaluate and test their traders before putting any capital behind them.

The Combine has a fully refundable deposit. This holds all recruits accountable for their actions and adds skin in the game for them to gain the closest feel to trading a live market like they would in their personal account. Those in the Combine that complete the requirements found here: http://www.topsteptrader.com/deposit are given the opportunity to receive a full refund (and go their merry way at absouletly no cost to them) or roll their deposit over to a new Combine and use the expereince from the prior Combine to develop and move themselves forward to a profitable trading stategy/methodology.

We have many recruits that receive a rollover as it is not terribly difficult to have a trading average greater than $0 at the end of your Combine and complete 2 of the 3 performance requirements while making sure 50% or more of the days traded are positive (greater than $0 for the day).

Quote from MichaelPatak:
...Sorry we are not negotiating the terms. It is a reasonable fair offer for both parties. You show us you can produce. We will stake you.

A deposit for the Combine is required or anyone who entered the program would not take it seriously and instead would do whatever they wanted. That wastes everyone's time. And yes, Combines are costly to set up, manage and evaluate.

 

[Lucrum]

Quote from Crispy:

It would behoove you to take their daily loss limit and cut that in half. The way I understand the new rules, you have as many days as you need. There are just a minimum amount of days to actually trade. No need to rush. When I passed I had 20 days only, win lose or draw. Take it slow and low....at least work on a rollover so you get the freebie

Sound wisdom indeed.

 

[marketsurfer]

Quote from satchel:

Nothing in this thread appears to have anything to do with a casino, let oraclewizard do his thing (As to the 1 lot CL..the very contract new traders shouldn't trade...Is your reference to the same No Doji that took 1 lot CL 10K account to 100K in a year, that claim? Proof?)

You guys keep pulling out this tired argument, what employer charges you to apply.

TST has already responded to this. Anything in these quotes sound fishy to you?

Nodoji also needed 50k as opportunity lost cost to prove ability in a 10 day combine. He has really led many elite traders down a dubious trail.

surf

 

[cornix]

Quote from marketsurfer:

Nodoji also needed 50k as opportunity lost cost to prove ability in a 10 day combine. He has really led many elite traders down a dubious trail.

surf

It wouldn't be dubious if they actually listened to what she says.

 

[NoDoji]

Quote from satchel:

Nothing in this thread appears to have anything to do with a casino, let oraclewizard do his thing (As to the 1 lot CL..the very contract new traders shouldn't trade...Is your reference to the same No Doji that took 1 lot CL 10K account to 100K in a year, that claim? Proof?)

1. I spoke with Oracle once or twice and I have no idea what specifically we talked about, though I imagine it had something to do with researching probabilities for a setup and learning to trade it with discipline, because that's mainly what I discuss with other traders.

2. I never took a 10K account to 100K in a year trading 1 lot of CL nor did I make such a claim.

I once posted something to the effect of:

If I day trade CL with a 500K account and claimed to generate an average profit of $400/day, no one would think the claim was outrageous.

It's possible to generate an average profit of $400/day trading one lot of CL. It's not easy, but it's possible with a well-researched intraday scalping plan.

You can trade 1 lot of CL with a $10K account. Ergo*, it's possible to generate nearly 100K in a year trading 1 lot of CL.

* I really like that word

ADD: Didn't some famous trader once take 10K to a million in a year trading futures?

 

[oraclewizard77]

Today was one of my best days. Positive 33P.

1st trade I went long on a break out. Trade went against me, and I added 2 contracts on 1st minor support level with stop below. I took 1 contract out at BE. I then took 1 contract out at small profit. However, the 2 other contracts came out and stopped me out. So I went from positive 10p to negative 17p.

I then had a limit order to go long again. It was actually 15 ticks below where my previous stop level was but the problem if I was to move my stop level down and I got stopped out on everything I would have taken a bad loss so I rather just respect my original stops and targets.

Since everything was setup with my limit order including stops and targets I did not need to do much. I checked back and saw my 1st target was reached and my stop automatically moved up to BE. Then I tightened my 2nd target a little to see if a resistance level would be breached or not. If I had more contracts I would have left 1 to run.

Thoughts on trades. I should not have added any contracts to my 1st trade. I probably should not have taken a break out trade since it requires a wide stop. My winning trade was a gold trade, and I think I should have just done that trade with more contracts. I probably should not have tightened my 2nd contract's stop since it would have hit 2nd target and I would have made 43 p instead of 33 p. The issue here is that I was already down 17 p and if my 2nd contract went back down to BE I would have been only up 3 p for the day which would have been pretty pathetic.

Summary, it's better to wait for the better trades and trade them with more contracts. Also it's better to not add to my losing trade since in the end I still lost on that trade and only increased my risk not my profit potential for being able to bring down my cost basis for the trade by 4 ticks.

 

[marketsurfer]

Quote from cornix:

It wouldn't be dubious if they actually listened to what she says.

Not according to proven professionals in the business. See the recent articles from the prop shop owners and hedge traders posted here.

 

[marketsurfer]

Quote from SteveH:

You want to treat the market like a casino treats its paying
You hard heads won't listen to Donna. Take 100% responsibility for your risk and you will receive 100% of the reward. Use the time you don't have 10K of excess cash to your name to save and spend some seed money on real-time data to trade ONE Crude futures contract. If it takes 2-3 years (or more) to find your edge and take command of your emotions, so what?! It's a done deal after that and then your only job is to FLAWLESSLY EXECUTE your trades, win or lose, and collect the positive residuals which accumulate over time. This is true investing in yourself.

Very weak and terrible advice for most everyone. OPM is the ultimate trading tool. Those who reject it are naive, don't understand, or may be independent rich folks who like gambling. For the average trader, OPM is a godsend. Going prop rather than being an at home loner opens up a world of potential, ideas and capital.

You make no sense and the above reads as merely an ill fated attempt to defend those who are afraid to demonstrate their ability in public.

Fortunately, not one of the worlds proven top traders took your advice. They all trade OPM.
Ever wonder why?

surf