if drawdown rule is in effect until a specific amount of cushion is built , other combines worths looking but in action you can not trade more than 3 contracts with 150k account (to stick to the weekly loss limit until cushion is built which has no difference with 30k account) .Whats your recommendation for someone who has an edge and have some track record and is consistent but look for trading higher number of contracts ?1-continue trading his own account 2-try 100/150 k combine of TST 3-try 30k combine of TST and gradually build it because it has no weekly loss limit 4-other options...?
Topsteptrader
- Thread starter deaddog
- Start date
Trader should have personal daily loss limit lower than maximum daily loss limit of TST.
The "implicit" weekly loss limit with the funded 30K would be the overall limit of $1500.
1) In order to get through the 20-day, better consistency is needed to keep things on track for all 20 days. If somebody hits the profit number too soon and then implodes, it has to be frustrating. :eek:
2) Time is the "enemy" if one's edge is too streaky.
3) Before Summer is over, maybe it'll be changed to a 15-day duration.
It's been discussed numerous times that if one wants to get funded, then passing the combine is not the main hurdle, it's the Jr Trader phase.
Since there is no time limit as a Jr Trader to reach the profit objective, the longer combine (20 day) is more consistent with the Jr Trader phase.
If someone hits the profit number "too soon" then all that's required is to maintain the 55% winning day ratio and take small gains or breakeven trades for the remainder of the combine to reduce the risk of "imploding" at the end.
Before summer is over, maybe they will change the 50k-150k combines to match the Jr Trader metrics.
The "max lot size" is quite irrelevant on the 150k account since you run the risk of maxing out the total draw quite fast, the same goes for the daily loss limit.
The max DD is based on a closing balance each day.
The calculation is as follows:
Maximum Allowable Draw/Maximum Allowable Losing Days = "TRUE" loss limit
If you're doing the 10 day combine, you need a minimum of 6 winning days and cannot exceed a maximum of 4 losing days (to keep the 55% winning day ratio).
So on the day you start the 150k combine, it's $4,500/4 = $1,125/day. This is the average "TRUE" loss limit when you consider the maximum allowable losing days.
In other words, whatever combine you choose, the closing balance for each day cannot decrease by the maximum allowable draw if you get into a series of losing days, regardless of how much P&L you have made in the preceding days.
Since nobody can predict when they will be in a slump or losing streak, one may consider having their personal daily loss limit equal to or LESS than the "TRUE" loss limit to improve the odds of passing the combine.
Speaking of missing key points, you ignore the 25% commission overide tst is making on their funded traders on every rt. So as long as they tread water tst pockets $1 per contract on every trade.
You obviously did not read my post thoroughly. I stated "funded", not sim. As a sim trader with jr status who is waiting to get funded, TST earns ZERO revenues. You can't collect commissions on sim trading huckleberry. Or can you!
Index margin is 500 intraday. If you can't scrape up the money to trade the you lack discipline and that same character flaw will cause you to fail in trading. Trading is about believing in yourself and taking your shot. If you can't scrape up the $2000 that tst is backing you with then perhaps you should look into another gig.
You obviously did not read my post thoroughly. I stated "funded", not sim. As a sim trader with jr status who is waiting to get funded, TST earns ZERO revenues. You can't collect commissions on sim trading huckleberry. Or can you!
I read it perfectly fine
What is your definition of funded that you stated ?
You can't be funded in sim trader ? or can you ?
You out of all people with your experience ought to be able to see through this bull$hit.
They target poor, uneducated, washed up nieve dreamers and sell them a dream for $175.
If this programs truly worked you would see the numbers and they would be marketing with those success stories.
The only benefit I can see is it provides a pass through from sim to actually trading your own capital once you have built up confidence in your trading. The problem I have is the program is so black and white and the rules handcuff you without any leeway to learn what works for you in regards to trade management and risk control and will actually do more damage to a trader in the long run.
Look at the facts.
The 30k combine is truly a $2000 account with a $1500 cutoff.
Do you think a new retail trader on their own will be successful with this parameter ?
Then why would it be any different trading that same guideline for tst ?
God it's like a beating up a handicapped kid. Once you become funded and VIOLATE the drawdown rule (the topic at hand) you get sent back to the combine. At this point though, TST earns ZERO revenues on this move. They have ZERO incentive to do this. Hence the reason I dispelled any conspiracy theories that they are simply making these rules tough to send you back to the combine and earn more fees on you. They obviously cannot EARN any more fees from funded traders going through the combine. They also cannot earn any commissions on FUNDED traders who get sent back to the combine. Therefore, there must be some other reason (other then financial) for doing that. Better get on the case Sherlock, times awaistin..