Topsteptrader

[wiesman02]

I think people trade index futures all the wrong way. People trying to make multiple points a day on multiple trades is crazy. People should trade much less and target one point a month imho. Index futures are best for liquidity. They are good for large funds who grind out 1-2% a month.

QUOTE]

One point a month ? Most professionals average that a day. Where are u coming up with that. Last year I averaged just slightly under 1 point a day. This year, I'm trying to beat that

 

[shareflipper]

I think people trade index futures all the wrong way. People trying to make multiple points a day on multiple trades is crazy. People should trade much less and target one point a month imho. Index futures are best for liquidity. They are good for large funds who grind out 1-2% a month.

QUOTE]

One point a month ? Most professionals average that a day. Where are u coming up with that. Last year I averaged just slightly under 1 point a day. This year, I'm trying to beat that

I'm just think people really need to reign in their expectations. People always assume they have a stop so risk management is taken care of. They need to focus a lot more on number of events in their risk models as well. Just thinking outside the box for example, pick one key level for the month and scalp it for a few ticks in the noise with more size. Daily and monthly profit targets are dangerous. Annual is what's important.

 

[Grandluxe]

QUOTE]

One point a month ? Most professionals average that a day. Where are u coming up with that. Last year I averaged just slightly under 1 point a day. This year, I'm trying to beat that

Not bad. So how is it going this year? You averaging more than 1 point per contract a day so far?

 

[shiko2000]

Good trading everybody.

 

[wiesman02]

Not bad. So how is it going this year? You averaging more than 1 point per contract a day so far?

I haven't calculated my totals this year so far as I've been in the process of bringing a new system in line for the past few months that has a somewhat smoother equity curve. But when I was trading, I was profitable.

 

[ScalperJoe]

I would trade 3 contracts max on a 150k account so a 4500 drawdawn gives me 1500 per contract or 30 effing handles in the ES!!!!!

3 contracts for 150k is a joke. You would have to make 80 es points just to pass the combine. You may as well just hand your combine money over to them and don't waste time attempting to pass it.

Trading 3 contracts and being down "30 effing handles" means you blow up in 1 day, and that's not a realistic way to evaluate the combine metrics.

Is it possible to pass a 20-day, 150k combine with only 3 contracts? Here are two scenarios:

Scenario 1:

With a 55% minimum winning day ratio of the combine parameter, it's 11 winning days vs. 9 losing days.

With the $4,500 trailing max draw, it's $500/day on 9 days.

With the $12,000 profit target, it's $1,500/day on 11 days (accounting for the draw).

Trading "3 contracts max" means you need 10 ES points on the winning days, or 40 ticks, while keeping the stop within 13 ticks on the losing days. That's a 1 by 3 risk to reward.

Scenario 2:

With a 75% winning day ratio, it's 15 winning days vs. 5 losing days.

With the $4,500 trailing max draw, it's $900/day on 5 days.

With the $12,000 profit target, it's $1,100/day on 15 days (accounting for the draw).

Again, trading "3 contracts max" means you need a little over 7 ES points on the winning days, or 30 ticks, while keeping the stop within 6 points, or 24 ticks on the losing days. That's closer to a 1 by 1 risk to reward.

You can create your own scenario, just pick a risk to reward that follows the combine parameters over the ENTIRE period.

 

[nazzdack]

----pass a 20-day, 150k combine with only 3 contracts?
----Scenario 1:
----Scenario 2:
----You can create your own scenario, just pick a risk to reward that follows the combine parameters over the ENTIRE period.

1) There is "logic" to what you describe but "reality" will be more "volatile".
2) Profitable days can be "less than average" which can bring about "duress & heat" to get back "on trend" via increased position sizing and giving more leeway to losing trades. :eek:
3) In a "perfect world", it's better to exceed the profit goal by a few hundred dollars AND have the percentage of profitable days satisfied by the 18th day so that one can avoid "last day craziness".

 

[ScalperJoe]

1) There is "logic" to what you describe but "reality" will be more "volatile".
2) Profitable days can be "less than average" which can bring about "duress & heat" to get back "on trend" via increased position sizing and giving more leeway to losing trades. :eek:
3) In a "perfect world", it's better to exceed the profit goal by a few hundred dollars AND have the percentage of profitable days satisfied by the 18th day so that one can avoid "last day craziness".

You're correct. And so is Volente, who posted "3 contracts on 150k is a joke." Sure, it's hypothetically possible, not not very probable.

 

[trader99]

Trading 3 contracts and being down "30 effing handles" means you blow up in 1 day, and that's not a realistic way to evaluate the combine metrics.

Is it possible to pass a 20-day, 150k combine with only 3 contracts? Here are two scenarios:

Scenario 1:

With a 55% minimum winning day ratio of the combine parameter, it's 11 winning days vs. 9 losing days.

With the $4,500 trailing max draw, it's $500/day on 9 days.

With the $12,000 profit target, it's $1,500/day on 11 days (accounting for the draw).

Trading "3 contracts max" means you need 10 ES points on the winning days, or 40 ticks, while keeping the stop within 13 ticks on the losing days. That's a 1 by 3 risk to reward.

Scenario 2:

With a 75% winning day ratio, it's 15 winning days vs. 5 losing days.

With the $4,500 trailing max draw, it's $900/day on 5 days.

With the $12,000 profit target, it's $1,100/day on 15 days (accounting for the draw).

Again, trading "3 contracts max" means you need a little over 7 ES points on the winning days, or 30 ticks, while keeping the stop within 6 points, or 24 ticks on the losing days. That's closer to a 1 by 1 risk to reward.

You can create your own scenario, just pick a risk to reward that follows the combine parameters over the ENTIRE period.

Interesting. Seems like a tight tradeoffs.

I got a couple of questions here on the rules of a "Senior Trader":

Receive an increased profit split

+$15K in cumulative profits - Keep 70%
+$30K in cumulative profits - Keep 80%

Does that means the trader has to have already made $15K? Or keep $15K in the account in order to get 70%?

Since everyone starts at $0, then when you reach $15K do you get paid out 70% of that.

Then your balance is now $4.5K after the 70% payout. And do you still get 70% payout after that on all profits going forward or do you need to bring it back to $15K to get 70% payout.

Just wanted to make sure if it means you have to prove once you can get to $15K and onwards you are at 70%. Or do you have to keep a cushion of $15K for them to pay you 70% going forward. That means the first $15K you don't see a dime since it's cushion money or risk capital.

Then in effect, aren't you trading like the arcade style prop shop with a "deposit" of $15K.

Hmm..

Also, there's a exchange fees of $85/month. I don't remember the fees being that high on IB. I know they are probably professional status thus pay higher fees?

 

[nazzdack]

----questions here on the rules of a "Senior Trader"....
----Receive an increased profit split
---- +$15K in cumulative profits - Keep 70%
---- +$30K in cumulative profits - Keep 80%
----Does that mean the trader has to have already made $15K?
----keep $15K in the account in order to get 70%?
----reach $15K do you get paid out 70% of that.
----keep a cushion of $15K for them to pay you 70% going forward.
----That means the first $15K you don't see a dime since it's cushion money or risk capital.
----exchange fees of $85/month.

1) You have to build up the account equity, i.e. "cushion", to $15K to $30K in order to receive a 70% distribution. You need to exceed $30K profit in order to take an 80% distribution.
2) Your next distribution depends on your profit level at the time you request the distribution.
3) You have to determine how much "cushion" you want to maintain in the account in order to allow for drawdowns. :eek:
4) Regarding exchange fees, it seems the trader has to pay exchange fees for each different exchange traded.