NexusFi: Find Your Edge


Home Menu

 





Kevin's TST Combine Journal


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one kevinkdog with 237 posts (640 thanks)
    2. looks_two Big Mike with 34 posts (61 thanks)
    3. looks_3 Pedro40 with 27 posts (19 thanks)
    4. looks_4 deaddog with 20 posts (12 thanks)
      Best Posters
    1. looks_one Silver Dragon with 3 thanks per post
    2. looks_two kevinkdog with 2.7 thanks per post
    3. looks_3 Big Mike with 1.8 thanks per post
    4. looks_4 Pedro40 with 0.7 thanks per post
    1. trending_up 102,097 views
    2. thumb_up 886 thanks given
    3. group 60 followers
    1. forum 460 posts
    2. attach_file 138 attachments




 
Search this Thread

Kevin's TST Combine Journal

  #221 (permalink)
 
WarEagle's Avatar
 WarEagle 
Pensacola, FL
 
Experience: Advanced
Platform: SierraChart
Broker: IB
Trading: Futures, Stocks, Options
Posts: 30 since Apr 2010
Thanks Given: 56
Thanks Received: 25

Personally, I think you should take the certain rollover.

I understand the argument that you want to stick to the system all the way through, but in effect you will do that anyway because you are tracking the system in TradeStation. This is not a discretionary trader ignoring his methods to finish out, its just the signals of a mechanical system that will generate those signals regardless of what is executed in the combine account. You have already proven that you will follow the system "no matter what". You also pointed out that the combine is not really long enough to know for certain if the system is "good enough" or not. Now you have a free opportunity to extend the evaluation period. This also buys some time to work on the Trader Prep period issues.

Not only will you get a longer period in a live environment incubator, but you keep alive the opportunity to get funded (assuming this is one of the goals). Not to mention my selfish desire to keep watching...it has been a very interesting and educational process.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Exit Strategy
NinjaTrader
ZombieSqueeze
Platforms and Indicators
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
NexusFi Journal Challenge - April 2024
Feedback and Announcements
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
Battlestations: Show us your trading desks!
24 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
The Program
17 thanks
  #222 (permalink)
 MBAGearhead 
Chicago, IL
 
Experience: Advanced
Platform: OpenECry
Trading: Crude Oil, Soybeans
Posts: 22 since Nov 2010
Thanks Given: 22
Thanks Received: 12

If I were you, I'd take a couple 1 tick losers and rollover and save the $300 or whatever the cost is to do another Combine. Then you can report your "luck" (will it be good or bad?) because we all know you will monitor the actual trades you would have taken and calculate, hypothetically, where you would have ended.

Look forward to following your next Combine!!

Reply With Quote
Thanked by:
  #223 (permalink)
 addchild 
Bay Area California
 
Experience: None
Platform: TT T4
Broker: Phillip Capital
Trading: Futures
Posts: 809 since Nov 2011
Thanks Given: 926
Thanks Received: 898



kevinkdog View Post


For now, I will trade as usual. Honestly, I'm just not comfortable with either choice. Neither alternative feels totally right to me...


Please feel free to weigh in on this.


This a pretty clear cut decision,

A 50%(ymmv) chance at a loss of combine value .5(-150), or a 100% chance of no loss 1(0).

This is a trade like any other, and you should be absolutely comfortable making it. Cut the loss and roll the combine.


.
Reply With Quote
Thanked by:
  #224 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,532


kevinkdog View Post
Thanks for the solid advice. If I do the rollover, one thing I definitely have to consider is adding in the "live trader prep" requirements that Josh mentioned in his TST thread. No sense passing the Combine, and then not being able to pass the Trader Prep.

I really don't put any value on the funded trader part. It seems I am in the minority as everyone else is focused on that.

Instead, I put value in the risk and discipline that the combine instills. Getting funded might be important for some, but I think for most the combine's act as a less expensive and faster route to hone your discipline and risk, without blowing an entire futures account to do so.

However, I have seen some people on the forum just fire away at combine after combine, for example if they fail the first then they are back in another combine within hours. To me that is ridiculous, and if anything proves you have a major flaw in your logic. So you definitely have to respect the process, you can't just treat it like a game that once you get the high score that is all that matters, and you just keep playing over and over until you finally get lucky.

My point is just that, do you really need to be funded? Or does the combine benefit you in other ways that you can use in your existing strategies?

I've rambled so will stop now.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #225 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,337
Thanks Received: 26,267


Big Mike View Post
I really don't put any value on the funded trader part. It seems I am in the minority as everyone else is focused on that.

Instead, I put value in the risk and discipline that the combine instills. Getting funded might be important for some, but I think for most the combine's act as a less expensive and faster route to hone your discipline and risk, without blowing an entire futures account to do so.

However, I have seen some people on the forum just fire away at combine after combine, for example if they fail the first then they are back in another combine within hours. To me that is ridiculous, and if anything proves you have a major flaw in your logic. So you definitely have to respect the process, you can't just treat it like a game that once you get the high score that is all that matters, and you just keep playing over and over until you finally get lucky.

My point is just that, do you really need to be funded? Or does the combine benefit you in other ways that you can use in your existing strategies?

I've rambled so will stop now.

Mike

I couldn't agree more.

Getting funded would be good, but the pathway to that is becoming a better trader.

If you found a way to get funded without actually being able to trade well, you wouldn't last too long in your funded account. The point of the Combine is to simulate the experience of real money trading without the risk, so that you can do the real thing when the time comes.

The training is much more important than the money. The training is excellent. Money can be found anywhere, really.

Reply With Quote
Thanked by:
  #226 (permalink)
 kevinkdog   is a Vendor
 
Posts: 3,645 since Jul 2012
Thanks Given: 1,890
Thanks Received: 7,338

Thanks everyone for the comments...

@bobwest - I like your statement about trading "without worrying about outcomes." That is an important facet of trading.

@WarEagle - You make some excellent points, especially that with my approach, Tradestation will monitor and track the hypothetical results anyhow.

@MBAGearhead - Thanks for your input, on your first post no less! You are right - I'd report my "luck" regardless.


@addchild - An expectancy calculation. Thanks. You are right, it should not be about emotion, feelings, and all that fuzzy stuff. The numbers say "take the rollover." The numbers don't lie.


@Big Mike - I'm not in the Combine specifically for the funding, although if it happened, that would be great. My motivation was to stretch my development process to the limit - could I do what I normally do development wise, and meet the very tough Combine goals? I thought this Combine would make me a better trader. You know what, I think it did!

Follow me on Twitter Started this thread Reply With Quote
  #227 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238


Big Mike View Post
I really don't put any value on the funded trader part. It seems I am in the minority as everyone else is focused on that.

Instead, I put value in the risk and discipline that the combine instills. Getting funded might be important for some, but I think for most the combine's act as a less expensive and faster route to hone your discipline and risk, without blowing an entire futures account to do so.

Mike

@Big Mike

I was in it for the live account without a doubt. That was my #1 goal. Now I am in it to learn how to trade. I have gained wealth of knowledge and experience on risk, discipline and money management. I working to get funded so I can work with Bob and Hoag. Both of the them work with the funded traders. I want to learn how to take it to the next level.

At the same time if I fail to get funded I now have have better skills to go back to my live account. Honestly, I think would be less pressure to trade my own account with what I have learned than in the combine I am in now. I would still trade the combine every so often to keep my trading in check while I keep trying to get funded. I think the combine is a great tool for any trader to gain perspective on how they are trading and where they can improve on risk, discipline and money management.

Robert

nosce te ipsum

You make your own opportunities in life.
Visit my NexusFi Trade Journal Reply With Quote
  #228 (permalink)
Pedro40
Pittsburgh, Pennsylvania
 
Posts: 564 since Jan 2013
Thanks Given: 33
Thanks Received: 379

My advice is pretty obvious, do the rollover. (and you can take breakeven trades too, they won't mess with your stats, but count as traded day, and costs only $5)

The logic is pretty simple: You already have 17 days of testing your system (the result is obviously breakeven) so 3 extra days won't really add much to it, but you might lose $200. If you roll over you can add another 20 days of testing to it, so that is more valuable than this extra 3 days...

Reply With Quote
  #229 (permalink)
 kevinkdog   is a Vendor
 
Posts: 3,645 since Jul 2012
Thanks Given: 1,890
Thanks Received: 7,338


Pedro40 View Post
My advice is pretty obvious, do the rollover. (and you can take breakeven trades too, they won't mess with your stats, but count as traded day, and costs only $5)

The logic is pretty simple: You already have 17 days of testing your system (the result is obviously breakeven) so 3 extra days won't really add much to it, but you might lose $200. If you roll over you can add another 20 days of testing to it, so that is more valuable than this extra 3 days...

If I have a breakeven trade, won't it then count as a negative day with commission? Or, do they not count commission as part of overall daily P/L (which seems odd)?

Follow me on Twitter Started this thread Reply With Quote
  #230 (permalink)
Pedro40
Pittsburgh, Pennsylvania
 
Posts: 564 since Jan 2013
Thanks Given: 33
Thanks Received: 379



kevinkdog View Post
If I have a breakeven trade, won't it then count as a negative day with commission? Or, do they not count commission as part of overall daily P/L (which seems odd)?

You are right, I forgot about that, it will be a -5$ losing day.... But it is the same as taking 1 tick hit, but with less cost.... You have the winning % at 70 nicely built up so, it won't go down to below 50....

Reply With Quote




Last Updated on April 26, 2014


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts