so how does the lot rule work ?
If you chose 3 and then only trade 1 in live you get kicked back to the combine ?
Topsteptrader
- Thread starter deaddog
- Start date
so how does the lot rule work ?
If you chose 3 and then only trade 1 in live you get kicked back to the combine ?
no.
Only if you start trading 4, 5, 6, 10 when you said you'd only go for 3.
Only if you start trading 4, 5, 6, 10 when you said you'd only go for 3.
so why does the rule even exist ?
If you can trade up to 10 max, why would you agree to less when you can do as you say and choose 10 and actually trade less without any punishment from tst ?
It's bs like this that makes absolutely zero sense to me.
Or maybe your judgement of one's trading ability is not as good as you think
Did all of these guys produced audited track records for you to review ?
"I will achieve an Average Net P&L greater than $0 for each product traded (enforced after 10 trading days)"
So you get kicked from live if you have 1 losing day ?
It does not define what time period the p&l is measured from
daily ?
weekly?
monthly ?
So you get kicked from live if you have 1 losing day ?
It does not define what time period the p&l is measured from
daily ?
weekly?
monthly ?
A couple of observations:
1. The HF's vetting/picking process sucks big time. I would expect at least a 10-15% success rate, but 99% failure? What was the vetting process anyway??
1. This just shows how hard this business is, and that TST is really better off charging for the combine instead of hoping to find the next great Hopey....
That should be automated. If you said you would start with 3 max. the platform shouldn't let you enter more than 3. An incredibly honest trader can enter by accident the wrong number, that's why there should be safeguards against such trades....
It looks to me TST is just looking for every rule in the book to throw traders back to the Combine. If they were really in it for the backing opportunity, they would try to work with the traders, not against them...
And then again, all they need is to find 3-4 traders who swing trades liquid instruments. How is that famous Isaac Newton quote?:
"Give me a consistent swingtrader of a liquid instrument, and I will make you millions..."
If it's the "Average Net P&L" for EACH product, then the way I read it is as follows:
After ten days if you are only trading say, ES, and by the 11th day you are still in a draw, then you're back to sim, even if you are still within the trailing max drawdown.
If you trade ES for ten days and are positive, then on the 11th day you trade crude and are down for the day, it would be silly to send you back to sim, since that would not be an "Average P&L" for EACH product, it would just be ONE day of THAT particular product. You should have nine more days to AVERAGE it out to ensure that your crude P&L is net positive, at least that's my interpretation.
Good question. If you have a 100k account with 10 lots max, and you enter "2" in the blank spot of the live trader agreement, then you just agreed to trade one-fifth the size of your allowable limit. Since you cannot add to a loser, and you cannot add to a winner until you have reached 1k profit, you basically "downgraded" your 100k live account back to a 30k account.
I think your interpretation is correct. What I don't get, why is this rule good for TST? If they already allowed you to have a 100K account, why would they limit you again???