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$5,000 Live trading account challenge - CL & ES


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$5,000 Live trading account challenge - CL & ES

  #301 (permalink)
 
lemons's Avatar
 lemons 
Tallinn, Estonia
 
Experience: Beginner
Platform: SC
Trading: NAS100
Posts: 959 since Nov 2010


mastadee View Post
Maybe bc my mind knows it's not real money and hence I can't really stick to the risk limits as I never really wanted to go over max. 1.5k per day. But I shall see how the next days go and if I'll turn it around or give topstep another $100 and then try to make it on a 3rd and last go

It is real money.
Combine fee 375 $ + 2 x 100 $ for reset = 575 $ real money.
Maybe its pocket change for you and you dont't consider it real.

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  #302 (permalink)
 
FlyingMonkey's Avatar
 FlyingMonkey 
Los Angeles CA
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lemons View Post
It is real money.
Combine fee 375 $ + 2 x 100 $ for reset = 575 $ real money.
Maybe its pocket change for you and you dont't consider it real.

Sure, there is real money involved, but each individual trade is abstracted from the real money underneath it because the outcome of one trade does not impact your risk in the endeavor - the only thing that matters is the finish line. In fact, how you get to the finish line doesn't matter at all.

I can understand why this would feel different from trading a live account where each trade impacts your bottom line directly - nothing abstract about watching you real money balance fluctuate. And I can understand why it can be difficult for some to adjust to. I think I would have to make a lot of effort to convince myself to treat each combine trade the same as a real trade. Maybe I could do it, maybe not - I have nothing against Sim trading and consider it a valuable tool - but I have never tried a combine.

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  #303 (permalink)
 
rleplae's Avatar
 rleplae 
Gits (Hooglede) Belgium
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lemons View Post
It is real money.
Combine fee 375 $ + 2 x 100 $ for reset = 575 $ real money.
Maybe its pocket change for you and you dont't consider it real.

There is a difference between

1. "real money", you spend something, you feel accountable

2. "sim or simulated trading", as soon as your order hits the exchange
you are participating in changing/influencing the market. as a retail
trader you will most likely not move the price, but your order hits the
book and as such influences the market, algo's, other participants and
most of all, fills are real which means, the fill either happens, or the fill
does not happen (both in buy or sell)

it is possible to write a strategy that will score very well in sim and
as soon as you do it with real money (meaning actual fills) it breaks
apart..

That said

I think going through the process of a TS or similar, is a good thing, all
comments apart, it will force you to be structured and disciplined and
at least respect the combine rules.

good luck !

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  #304 (permalink)
 
rassi's Avatar
 rassi 
the congo
 
Experience: Advanced
Platform: North sea oil rig
Trading: Cl
Posts: 927 since Jun 2009
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Just to get this back on topic as it is masterdees journal....

Real money or not your brutal honesty and openness is commendable and will be the catalyst to your success as a trader. Now you need to take it one step further and answer some unpleasant questions

Average loss bigger than average gain (I think from scanning through) why?

Ask yourself why you are fighting the market.

Why bother doing all this if you are trading a bigger account successfully?

The fact it's a small account is not an answer as it's an excuse!

Please take the above the right way mate. It's meant with the best intentions. These things can be difficult to face up to and you don't have to post answers for all to see. Understanding oneself is the key to enlightenment.

I'm happy to talk through it on pm if you like.

All the best




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  #305 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
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here it is what I'm looking at today:

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,000 Live trading account challenge - CL & ES-09-15-2017.pdf  
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  #306 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
Experience: Advanced
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Well, as I was close to my overall risk limit, I did hit it on Friday last week and the combine is officially over for me. It was a good experience but trying to trade with 10-12 lots and tight SL, stopped me out a couple times and hit my overall max risk limit. Only to see 4T lower to find support and then go up a lot...

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  #307 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
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Here it is:



I think, I'll just open up a new thread where I will continue to post my daily cheat sheet. Maybe it's helpful for others, so happy to continue to share

Attached Thumbnails
,000 Live trading account challenge - CL & ES-09-19-2017.pdf  
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  #308 (permalink)
 
LDog's Avatar
 LDog 
Lafayette, TN/USA
 
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I hope all is well with you and your family/friends!!

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  #309 (permalink)
 
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 FlyingMonkey 
Los Angeles CA
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LDog View Post
I hope all is well with you and your family/friends!!

thoughts are with you @mastadee

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  #310 (permalink)
 
rassi's Avatar
 rassi 
the congo
 
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Just seen the news...all the best, hope your family are safe.


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Last Updated on October 5, 2017


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