Topsteptrader

That DD that hit trailing stop was due to me not following the plan, over trading and watching too much DOM. I actually just set a couple of new rules to reduce trading especially setting rule when not to trade at all.

The trailing max draw is more important than the daily loss limit, since that is factored over the entire combine period. So you have to personally lower your daily loss limit well below the maximum in order to account for the trailing max dd.

Also, the 50k and above backed account (until one gets to Sr Trader) imposes WEEKLY loss limits as well as the trailing max draw, so you have to always monitor the daily draw to ensure it is much lower than the allowable amount.
 
The trailing max draw is more important than the daily loss limit, since that is factored over the entire combine period. So you have to personally lower your daily loss limit well below the maximum in order to account for the trailing max dd.

Also, the 50k and above backed account (until one gets to Sr Trader) imposes WEEKLY loss limits as well as the trailing max draw, so you have to always monitor the daily draw to ensure it is much lower than the allowable amount.


I guess you was meaning daily loss limit is more important. Cause hitting daily loss limit means lack of discipline while hitting trailing stop in most cases just means things did not go well on certain Combine.
I am trading $30K so there is no WEEKLY loss limit. It is for accounts from $50K and above. So, I am still within Jr. Trader parameters but yes. I have had issue with further reducing my personal daily loss limit which was within $500 on my previous $50K Combines. I am currently working to trade within $295-310 daily loss limit or 2 losing trades a day. But, I can lose only 2 trades a day since now on in any sequence. If I lose one then win second and lose third I still stop trading. So, I have overall 2 losers a day limit or $310 max. Need to program myself into lower daily risk.
 
were I to follow fund my own account path and trade $6000-7000 I would have to keep daily loss limit within these parameters and it would be the most important thing along with daily profit target after which I stop trading as well. i do have daily profit target. It is $300-400. Whichever hit first.
Risking say less than $300 a day on funded account say $285-295 would allow 6 losing days in a row to hit trailing stop. If plan is followed it not very likely.
 
All in all, when I finally get funded, I will follow exactly the plan I am trading with all limits but will not reduce my trading contrary to the plan to just hang in there. i am in this to make it big with excellent risk control, discipline and consistency.
On the other hand I do have time limit if I am not funded by then I will open my own account with exactly same broker as TST.
 
If that was the case then you would be a fool for fiddle f%cking around with a 3 lot at tst that you lose an additional 55% of your profit on versus trading your own account and violating your non compete just to satisfy your ego's need to be right.
What's significant about 100k ?
That's only 40k net after their cut and your tax liability so if you hit it today you made $18 an hour for your time. You remind of a kid in the minors, when they first sign they are hungry but then over time the dream fades away and reality sets in and the call never comes and all you are left with is the time you threw away. I wish you the best but as of right now I don't think you are in this for the right reason. Best of look in proving me wrong.

I can tell you are being very sincere. I appreciate that. Thank you.

You really need to be reading between the lines here. I would never violate my contract. Period.

100k is only significant because I think it is. I would like to turn 0.00 into six figures on public record/with a prop firm. Just a personal goal is all.

The minors comment made me chuckle only because we dont know each other personally. If you met me and we shared back stories and history you would chuckle as well.

Good trading to you! :)
 
I don't think anyone would try and refute that you did it. They'd just say you could have made more money in a job. Like if it takes 4 years, they'll say "Yeah well you only made 25k a year!"

Most guys want to get rich quick. So they are probably wanting to see someone go from zero to 100k in a year or less, and be a millionaire in 5 years time. Wasn't there someone here who used to claim to have turned the market into a daily ATM machine? That is alluring and exciting, and that is what people want to see. Not someone patiently and methodically building up to 100k over 4 years time. So you have to take that into account when reading criticisms.


Ive had a full time career for the last 18 years. It allows me the full flexibility to pretty much do what I want as long as it gets my attention when required. Its rewarding financially and psychologically. I can undertake lots of projects, tasks and consulting gigs to add to my income with no worries at all. I am a very lucky man in that sense.

Yeah I get that. Im a grinder in the full sense of the word in relation to trading. If I blogged my activity here it would get no reads, It would be so f`n boring... im not a get rich quick guy. My methodology scrapes small bits. And I trade about every two days on average. One trade a day only 90% of the time as well. Boring as heck...:D
 
I guess you was meaning daily loss limit is more important. Cause hitting daily loss limit means lack of discipline while hitting trailing stop in most cases just means things did not go well on certain Combine.
I am trading $30K so there is no WEEKLY loss limit. It is for accounts from $50K and above. So, I am still within Jr. Trader parameters but yes. I have had issue with further reducing my personal daily loss limit which was within $500 on my previous $50K Combines. I am currently working to trade within $295-310 daily loss limit or 2 losing trades a day. But, I can lose only 2 trades a day since now on in any sequence. If I lose one then win second and lose third I still stop trading. So, I have overall 2 losers a day limit or $310 max. Need to program myself into lower daily risk.

Actually, I wasn't clear in my post. What I meant to say is the daily loss limit imposed by TST combine is WAY TOO HIGH when you factor in the trailing max draw. In other words, if you take a hit near the daily loss limit on any given day, then it's very difficult to play "catch up" given the trailing max draw.

And you're correct, only the 50k and above combines have weekly loss limits as a Jr Trader. So for example, the 50k Jr Trader not only has a 1k daily loss limit, BUT ALSO a $1k WEEKLY loss limit, which means you must structure your plan to manage risk with an average $200/day loss limit PLUS incorporate the trailing max dd. In other words, the "1k daily" is rendered irrelevant, since if you go near it, even for ONE day, you run a greater risk of being sent back to combine.
 
I can tell you are being very sincere. I appreciate that. Thank you.

You really need to be reading between the lines here. I would never violate my contract. Period.

100k is only significant because I think it is. I would like to turn 0.00 into six figures on public record/with a prop firm. Just a personal goal is all.

The minors comment made me chuckle only because we dont know each other personally. If you met me and we shared back stories and history you would chuckle as well.

Good trading to you! :)

One word to describe your response,

CLASS ACT. (Ok 2 words.)

Gracious, humble , civil, very rarely are those words used on ET, hats off to you Crispy.
 
TST daily loss for $30K account is $500. $200 daily loss limit is not reasonable for me. Too low. i am not going to use too small stop losses which are simply a food for algos. I have been there trying to trade with 6 ticks stops. While it might work but it is very stressful, losing trade doe snot mean I was wrong. In this case straight idea of R:R ticks wise is a fallacy. My trading grately improved after I increased my stop without increasing my profit target and keeping same trade management rules.
So, as I see it. My daily loss is within $300. $310 max but I can get it withing $295 including fees. For example, once I met all requirements and get live funds I have $1500. so, if I keep my daily loss within $295. I have 6 straight days to trade. As $30K account trader I do not have weekly loss limit. From my trading and back testing it is very unlikely if I follow my plan including trade management plan I will lose 6 $295 days in a row.

$200 is definitely not a reasonable limit for me.

Actually, I wasn't clear in my post. What I meant to say is the daily loss limit imposed by TST combine is WAY TOO HIGH when you factor in the trailing max draw. In other words, if you take a hit near the daily loss limit on any given day, then it's very difficult to play "catch up" given the trailing max draw.
I have plan for increasing number of contracts and the rest which depends upon built cushion. On Combine it is impossible until I moved away form trailing stop far enough which is not my goal. But on live funds it is all about building cushion for each additional contract and managing that cushion reducing position by one contract if for example 2 days full personal daily limit loss hit.


And you're correct, only the 50k and above combines have weekly loss limits as a Jr Trader. So for example, the 50k Jr Trader not only has a 1k daily loss limit, BUT ALSO a $1k WEEKLY loss limit, which means you must structure your plan to manage risk with an average $200/day loss limit PLUS incorporate the trailing max dd. In other words, the "1k daily" is rendered irrelevant, since if you go near it, even for ONE day, you run a greater risk of being sent back to combine.
 
Back
Top