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Catching Big Waves - a trader's journal of surfing the the markets
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Catching Big Waves - a trader's journal of surfing the the markets

  #4271 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,356 given, 83,237 received


GaryD View Post
I just emailed TopStep Trader with some questions, downloaded some of their literature, etc. Trading is at least 50% psychological, and I am curious to see what happens when the risk is reduced.

You might also like:
https://futures.io/elite-trading-journals/22939-20-day-combine-tst.html

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:
 
  #4272 (permalink)
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Orlando, Florida
 
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Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,027 received

Trading Simulation | Trading Program | TopstepTrader Combine



Scouting Criteria





1) Trade only products permitted to trade, during the permitted times Easy

2) Do not hold a position into the electronic close of the product trading (recruits may trade overnight but must be flat when their product's electronic market is closed) Easy

3) Trade all required days of the Combine Easy

4) Always use stops with an open position Easy

5) Overall Winning Day % of 50 or greater Most Likely

6) Do not hit or exceed the daily loss limit (NET P&L) Easy


7) Additionally, each product traded during the Combine must meet at least TWO of the performance requirements listed below AND have a trading average greater than zero ($0):

•Overall Average Win greater than Overall Average Loss Probable
•Overall Average Win Duration greater than Overall Average Loss Duration Not sure
•Total Win % of 45 or greater Probable


8) Achieving the Combine profit target (Net P&L) That part remains to be seen

 
  #4273 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
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GaryD View Post
Trading Simulation | Trading Program | TopstepTrader Combine



Scouting Criteria





1) Trade only products permitted to trade, during the permitted times Easy

2) Do not hold a position into the electronic close of the product trading (recruits may trade overnight but must be flat when their product's electronic market is closed) Easy

3) Trade all required days of the Combine Easy

4) Always use stops with an open position Easy

5) Overall Winning Day % of 50 or greater Most Likely

6) Do not hit or exceed the daily loss limit (NET P&L) Easy


7) Additionally, each product traded during the Combine must meet at least TWO of the performance requirements listed below AND have a trading average greater than zero ($0):

•Overall Average Win greater than Overall Average Loss Probable
•Overall Average Win Duration greater than Overall Average Loss Duration Not sure
•Total Win % of 45 or greater Probable


8) Achieving the Combine profit target (Net P&L) That part remains to be seen

in case your interested; I created a spreadsheet to help determine if my trades met the TopStep requirements. It can be found here: https://futures.io/elite-trading-journals/22939-20-day-combine-tst-8.html#post264074

Robert

nosce te ipsum

You make your own opportunities in life.
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  #4274 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,356 given, 83,237 received

BTW, I think they offer 50% discount to Big Mike members, I believe the code was listed in the last webinar thread. Don't quote me please in case I am wrong with that figure.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:
 
  #4275 (permalink)
User requested to be banned
Orlando, Florida
 
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GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,027 received


Big Mike View Post
BTW, I think they offer 50% discount to Big Mike members, I believe the code was listed in the last webinar thread. Don't quote me please in case I am wrong with that figure.

Mike

https://futures.io/psychology-money-management/21828-webinar-topsteptrader-disci...agland-2.html#post253534



I think that is to be an annual member. Right now I am just looking at the $350.00 combine, but I'll enter that code and see what happens. Thanks Mike.

 
  #4276 (permalink)
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Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,027 received

The more I think about the Topstep Trader program, the more interested I get. I like their risk parameter enforcement and their structured environment. I like the fact that trading would not be such a solitary experience.

I have a good understanding of market structure, I have hit their performance criteria, but as this journal witnesses, I have some deep psychological scars regarding past financial losses, and that has become a major barrier to me. Of course, they may read this journal someday and decide to pass...

But if I can do what I think I can in the combine, and if this one mental shift does what I expect it to do, it would be one serious win/win. This may be the key that frees the mind to just trade. No green dragon required.


Last edited by GaryD; September 22nd, 2012 at 12:12 AM.
 
  #4277 (permalink)
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GaryD View Post
The more I think about the Topstep Trader program, the more interested I get. I like their risk parameter enforcement and their structured environment. I like the fact that trading would not be such a solitary experience.

I have a good understanding of market structure, I have hit their performance criteria, but as this journal witnesses, I have some deep psychological scars regarding past financial losses, and that has become a major barrier to me. Of course, they may read this journal someday and decide to pass...

But if I can do what I think I can in the combine, and if this one mental shift does what I expect it to do, it would be one serious win/win. This may be the key that frees the mind to just trade. No green dragon required.

Green Dragon is the Holy Grail Mr GaryD!

May be TopStep trader will offer you something to break you free of the routine you have created, even though it seems to be a good routine regards you have a profitable account.......but might give you something to allow you to start to outperform your current trend

all the best

" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
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  #4278 (permalink)
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UK London
 
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Favorite Futures: Piano
 
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Exits ?

@GaryD

Something I've been meaning to ask you.
(Apologies if you've mentioned it before.)

Aside from all the "stuff in the head" reasons for exiting a trade, do you have any other criteria ?
A yes or no will do so as not to intrude on your methodology too much.

I have a "reason" for asking.

It ocurred to me that, aside from being able to trade at a contract size below your threshold without any issues,
the "fear" (when it happens) might get triggered from a sense of the unknown, rather than any dollar amount.
That need to take the profit that's there is not really a need but rather a reaction to an unknown situation (which in of itself triggers the fear).


This unknown might be re-invoking that past experience that (from what you've described) came out of nowhere, or at least to say that it wasn't something that you forsaw or had factored into your equations.
(which we know you like to have )

It was an unknown entity.

So, for as well as your entries are defined and "known", does this hold true of your exits ?

Your seem to be a remarkably structured person (said with respect).
That structure has, imo, got you to where you are now.

So again I ask, do you have a defined structured approach for exits ?


And btw I think it's a about time we, or at least I, extend a hello to your wife.
If she had any idea what you put us through here on futures.io (formerly BMT) then she has my utmost respect....and sympathy

Sincere best wishes..

Every moment I wake up I realize I know nothing, and then I smile...
The following user says Thank You to zt379 for this post:
 
  #4279 (permalink)
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zt379 View Post
@GaryD

Something I've been meaning to ask you.
(Apologies if you've mentioned it before.)

Aside from all the "stuff in the head" reasons for exiting a trade, do you have any other criteria ?
A yes or no will do so as not to intrude on your methodology too much.

I have a "reason" for asking.

It ocurred to me that, aside from being able to trade at a contract size below your threshold without any issues,
the "fear" (when it happens) might get triggered from a sense of the unknown, rather than any dollar amount.
That need to take the profit that's there is not really a need but rather a reaction to an unknown situation (which in of itself triggers the fear).


This unknown might be re-invoking that past experience that (from what you've described) came out of nowhere, or at least to say that it wasn't something that you forsaw or had factored into your equations.
(which we know you like to have )

It was an unknown entity.

So, for as well as your entries are defined and "known", does this hold true of your exits ?

Your seem to be a remarkably structured person (said with respect).
That structure has, imo, got you to where you are now.

So again I ask, do you have a defined structured approach for exits ?


And btw I think it's a about time we, or at least I, extend a hello to your wife.
If she had any idea what you put us through here on futures.io (formerly BMT) then she has my utmost respect....and sympathy

Sincere best wishes..


I have had more structured targets in the past, many times refused to get out until one of them hit. I feel more proud of my mindset when I can allow that to occur. But that approach requires a great comfort with the unknown, and I am finding less and less comfort with it. I really have not determined why. It is something rooted deep inside me though.

I am going to see my doctor on Tuesday and going to talk with him about some of the issues I have been having lately. A friend mentioned andropause, or low testostorone, or low seritonin.

 
  #4280 (permalink)
Elite Member
UK London
 
Futures Experience: None
Platform: NT and XTrader
Favorite Futures: Piano
 
Posts: 1,358 since Sep 2009
Thanks: 1,356 given, 1,551 received



GaryD View Post
I have had more structured targets in the past, many times refused to get out until one of them hit. I feel more proud of my mindset when I can allow that to occur. But that approach requires a great comfort with the unknown, and I am finding less and less comfort with it. I really have not determined why. It is something rooted deep inside me though.

I am going to see my doctor on Tuesday and going to talk with him about some of the issues I have been having lately. A friend mentioned andropause, or low testostorone, or low seritonin.

If you had an issue with the unknown then how is it that you can enter a trade ? !

Every moment I wake up I realize I know nothing, and then I smile...

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