Topsteptrader

his is how it ended:


Starting Balance: $30,000
Max Position Size: 3
Daily Loss Limit: $500
Max Drawdown: $1,500
Winning Day %: 75
Max Drawdown: -357.5
Largest Winning Day: 480
Largest Losing Day: -462
Avg. Winning Day: 247
Avg. Losing Day: -436
Combine Rules
Rule met Average Net P&L greater than $0 for each product traded
Rule met Overall Winning Day percentage of 55 or greater
Rule met Largest Losing Day will not hit or exceed Daily Loss Limit
Rule not met Account Balance will not hit or exceed Trailing Max Drawdown
Account Balance High: $31,530 (May 14)
Trailing Max Drawdown: $29,953 (Apr 28)
Current Account Balance: $31,530

Soybeans

Net P&L Total Contracts Fees & Comm. Total Trades Winning Trades Losing Trades Avg P&L Per Trade Avg Win Avg Loss W/L Trades Total Win % Max Consec. Winners Max Consec. Losers Avg Win Duration Avg Loss Duration
AVERAGE 77 13 34 7 3 3 112 137 -80 2:1 57 2 2 00:18:31 00:05:49
MAY 14 20 2 5 1 1 0 25 25 0 1:0 100 1 0 0:05:07 0:00:00
MAY 13 355 8 20 4 3 1 168 175 -150 3:1 75 2 1 0:11:11 0:03:06
MAY 09 37 20 50 10 2 7 103 281 -67 2:7 22 1 5 0:48:51 0:04:18
MAY 08 272 6 15 3 2 1 104 150 -12 2:1 66 1 1 0:02:12 0:15:59
MAY 07 7 32 80 16 11 5 52 42 -75 11:5 68 5 3 0:07:11 0:04:59
MAY 06 295 12 30 6 4 2 83 103 -43 4:2 66 2 1 0:11:28 0:08:07
MAY 05 -370 18 45 9 2 6 69 75 -79 2:6 25 1 3 0:04:03 0:07:14
MAY 02 272 6 15 3 2 1 129 168 -50 2:1 66 1 1 0:05:08 0:03:06
MAY 01 307 12 30 6 4 1 85 106 -87 4:1 80 2 1 0:05:12 0:02:46
APR 30 285 6 15 3 2 1 150 187 -75 2:1 66 2 1 1:28:19 0:01:43
APR 29 405 8 20 4 2 2 193 300 -87 2:2 50 1 1 1:22:35 0:07:50
APR 28 -460 4 10 2 0 2 225 0 -225 0:2 0 0 2 0:00:00 0:17:51
APR 25 -427 26 65 13 4 8 99 115 -103 4:8 33 3 3 0:11:47 0:04:48
APR 24 -460 14 35 7 0 4 60 0 -106 0:4 0 0 2 0:00:00 0:07:11
APR 23 -462 30 75 15 6 9 62 45 -73 6:9 40 3 4 0:02:26 0:01:39
APR 22 337 10 25 5 4 1 77 93 -12 4:1 80 3 1 0:05:51 0:04:47
APR 21 480 8 20 4 3 1 131 170 -12 3:1 75 2 1 0:09:12 0:04:59
APR 17 207 32 80 16 10 5 49 53 -50 10:5 66 3 2 0:06:18 0:01:43
APR 16 182 12 30 6 4 2 118 115 -125 4:2 66 3 2 0:23:11 0:02:43
APR 15 245 2 5 1 1 0 250 250 0 1:0 100 1 0 0:03:27 0:00:00


I am starting new Combine today.
will let know as soon as I have something to talk about preferably close to the end.
 
shiko2000 said:
I could not trade on Monday, but I did today. One day left. I crossed Combine objective. $1510 total P&L today.
All 1 contract trading.
Tomorrow my last day and I have registered for the next Combine.
Pretty sad. Could have getting ready for live trading. I do not think I need any live preparation at all. Trading has been within Jr.Trader parameters anyway and I have been doing positive Combines with rollovers but this one since November.
Looks like I am total combined +14% on all my combines with max DD of 2%.
More...

Trading within the Jr. Trader parameters is key, since that is what you'd have to do anyway once funded.

Apart from the max trailing draw, you had all of the objectives met. Nice going.
 
Maverick74 said:
Good work! If they made an error let them know and they will correct it.

As I said before countless times, I think the TST combine has served it's purpose for you as a training ground and you have proven your discipline. I see no reason why you should not fund your own account. You put in the time and demonstrated maturity in your trading. I would absolutely fund your own account at this point.
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Shiko2000 traded within Jr. Trader parameters using 1 lot, and met the profit objective. It seems he would eventually pass the combine. However, trading sim vs. live are two different animals.

With their backing, you still are required to maintain discipline through the process of getting to Senior Trader.

Why not at least trade their funded account and see if you're able to make it to Sr. Trader? At least that way you won't "blow up" your own live account, even if you trade 1 lot.

Besides, that is the whole point of their model, to "Get Funded", not "Go Trade Your Own Account."

I've also posted this several times: the value of the TST model is to eventually trade SIZE without having to put up funds. That is the benefit of making Senior Trader, especially if you're doing the larger combines.
 
ScalperJoe said:
Shiko2000 traded within Jr. Trader parameters using 1 lot, and met the profit objective. It seems he would eventually pass the combine. However, trading sim vs. live are two different animals.

With their backing, you still are required to maintain discipline through the process of getting to Senior Trader.

Why not at least trade their funded account and see if you're able to make it to Sr. Trader? At least that way you won't "blow up" your own live account, even if you trade 1 lot.

Besides, that is the whole point of their model, to "Get Funded", not "Go Trade Your Own Account."

I've also posted this several times: the value of the TST model is to eventually trade SIZE without having to put up funds. That is the benefit of making Senior Trader, especially if you're doing the larger combines.
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Yes, I understand that live with real money is different but going live with real money after you have proven to yourself that you have the discipline to make it work is much different then going live with real money when you have no idea what you are doing. The real money demons have much sharper teeth when one is not fully prepared.

Also, you make it sound like trading size with OPM is some kind of nirvana. There is a very different type of pressure trading size in an environment where you are heavily scrutinized and where someone can pull the plug very fast on any mistake you make vs trading size in your account with no one telling you how to trade or what to do. I've been in both situations. There are pros and cons to both. But it's certainly not easy. There is a certain value to having complete and total freedom with what you are doing. What that value is varies person to person.

It sounds like this guy is proving all the naysayers wrong and I'm impressed with his progress.
 
Maverick74 said:
Yes, I understand that live with real money is different but going live with real money after you have proven to yourself that you have the discipline to make it work is much different then going live with real money when you have no idea what you are doing. The real money demons have much sharper teeth when one is not fully prepared.

Also, you make it sound like trading size with OPM is some kind of nirvana. There is a very different type of pressure trading size in an environment where you are heavily scrutinized and where someone can pull the plug very fast on any mistake you make vs trading size in your account with no one telling you how to trade or what to do. I've been in both situations. There are pros and cons to both. But it's certainly not easy. There is a certain value to having complete and total freedom with what you are doing. What that value is varies person to person.

It sounds like this guy is proving all the naysayers wrong and I'm impressed with his progress.
More...

Yes, I agree about having "proven to yourself that you have the discipline to make it work", but again, we're talking about SIMULATOR results, not live. The LIVE results are measured after being funded as a Jr. Trader. Since Shiko2000 is, as you say, "proving all the naysayers wrong" then the odds are good that he will pass the Jr. Trader phase. And besides, he already posted that he wants to get funded.

I never implied that trading size with OPM was "some type of nirvana." Read my prior posts. I wrote that there are intangible benefits of trading backed funds. Since you've been in both situations, you will probably agree.

If you ask traders why they are signing up for a combine, I doubt the answer you will get is "I want to pay to trade a simulator." In fact, the answer you will most likely get is "I want to build trading discipline AND get backed."

NinjaTrader offers an "unlimited simulator" where you can trade stocks/options/futures. They even run a banner ad on Elite. Anyone can download it and do a "home based" combine, and then fund their own account. You don't need TST for that. TST promotes an avenue to get BACKED. And once you're backed, there is opportunity to grow the account while still being monitored so that you maintain discipline.

Regarding size, how do you expect a 30k combine trader to build size if they fund their own account? I agree with your statement that it's a lot different when you are "heavily scrutinized" while trading size and they can "pull the plug" on you vs. trading the way you want on your own. However, once you make Sr. Trader and build a cushion, the additional rules go away, and you're basically trading the way you want. The benefit is you still have someone that "has your back" and if that prevents a huge draw or a blow up, then to me that has value.
 
ScalperJoe said:
Yes, I agree about having "proven to yourself that you have the discipline to make it work", but again, we're talking about SIMULATOR results, not live. The LIVE results are measured after being funded as a Jr. Trader. Since Shiko2000 is, as you say, "proving all the naysayers wrong" then the odds are good that he will pass the Jr. Trader phase. And besides, he already posted that he wants to get funded.

I never implied that trading size with OPM was "some type of nirvana." Read my prior posts. I wrote that there are intangible benefits of trading backed funds. Since you've been in both situations, you will probably agree.

If you ask traders why they are signing up for a combine, I doubt the answer you will get is "I want to pay to trade a simulator." In fact, the answer you will most likely get is "I want to build trading discipline AND get backed."

NinjaTrader offers an "unlimited simulator" where you can trade stocks/options/futures. They even run a banner ad on Elite. Anyone can download it and do a "home based" combine, and then fund their own account. You don't need TST for that. TST promotes an avenue to get BACKED. And once you're backed, there is opportunity to grow the account while still being monitored so that you maintain discipline.

Regarding size, how do you expect a 30k combine trader to build size if they fund their own account? I agree with your statement that it's a lot different when you are "heavily scrutinized" while trading size and they can "pull the plug" on you vs. trading the way you want on your own. However, once you make Sr. Trader and build a cushion, the additional rules go away, and you're basically trading the way you want. The benefit is you still have someone that "has your back" and if that prevents a huge draw or a blow up, then to me that has value.
More...

So there is a bit of psychology at play here. I understand what traders "think" they want. When a guy is not profitable or has no self confidence in himself, the idea of backing sounds very appealing. What I'm trying to say here is, that dynamic does change once a trader "does" have self confidence.

This is why you see many traders who are at "real" prop firms who actually get paid salaries and bonuses and swing huge lines, many of them actually leave to go on their own. Why? I'm sure there are numerous reasons but the underlying feeling tends to be that they know what they are doing, they believe in themselves and would rather be on their own. It's the same reason joe sixpack who works in middle management at Initech decides to leave corporate America and start his own firm. I mean why would he do that? He does that because he can. He knows he can execute his business. Whatever that business is. This cycles tends to get played out in virtually every business. You go work for someone to learn the ropes. Try to save up some money. Make contacts and network and when the time is right, go out on your own.

Now, not everyone wants to do this, I get that. I'm just trying to walk you through why a guy would say he "wants" to get backed and then change his mind once he sees how well he is doing and progressing. Trading is a lot like sports, it's all about self confidence. When you don't have it, you are scared and you don't believe you will ever make money and you want safety and protection. But when your confidence is high, you want independence, you want to be on your own, you believe you can do anything. Sure, there is a happy medium in there somewhere. But I would bet dollars to doughnuts that most guys do the combine "wanting" capital and after doing 3 to 6 months worth of combines, whether they passed or not, will ultimately decide to trade their own funds because they "believe" they can make it now.
 
Maverick74 said:
But I would bet dollars to doughnuts that most guys do the combine "wanting" capital and after doing 3 to 6 months worth of combines, whether they passed or not, will ultimately decide to trade their own funds because they "believe" they can make it now.
More...

Perhaps they "believe" they will make it, as long as it's outside the restrictive parameters of the backed account, and therefore choose to open their own accounts "after doing 3 to 6 months worth of combines, whether they passed or not."

This may account for the difference between the number of those who passed the combine vs. the number of those who make Senior Trader.
 
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