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Top Step Trader Combine 20 day 150k
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Top Step Trader Combine 20 day 150k

  #11 (permalink)
Trading Apprentice
Orlando, Florida, USA
 
Futures Experience: Advanced
Platform: eSignal
Favorite Futures: CL
 
Posts: 34 since Oct 2010
Thanks: 1 given, 92 received


Amnesia View Post
Just so i understand this, you still have to pay them this "admission fee" to be able to compete right?

Yes. TST is a business. So long as they have enough participants, they "win" regardless of the success/failure of any individual in the system.

Best advice I can give to the journal writer here is do NOT start with your largest position and "peel off" contracts as the trade goes your way. Either go all-in / all-out or start with your smallest lot size and add as the trade goes your way. Until you master the former, you won't be ready mentally /emotionally for the latter.

If you start with your largest position, you're always taking your largest loss per losing trade. This forces you (mathematically) to maintain a higher winning pct because your avg winner over the longer term is going to be less than someone who trades all-in / all-out.

Van Tharp's words are golden on this subject:

page 265 - "WHAT TO AVOID"

"There is one kind of exit that is designed to get rid of losses, but it totally goes against the golden rule of trading of cut your losses short and let your profit run. Instead, it produces large losses and small profits. This type of exit is one in which you enter the market with multiple contracts and then scale out with various exits...On a gut level, this sort of trading makes sense because you seem to be "insuring" your profits. But if you step back from this sort of exit and really study it, you'll see how dangerous this type of trading is.

What you are actually doing with this sort of exit is practicing reverse position sizing. You are making sure that you will have multiple positions when you take your largest losses...It's a perfect method for people with a strong bias to be right, but it doesn't optimize profits or even guarantee profits"

--- "Trade Your Way To Financial Freedom" by Van Tharp

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  #12 (permalink)
Elite Member
Chicago, Illinois
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: ES, CL
 
Posts: 14 since Dec 2011
Thanks: 0 given, 35 received

Trading 11/15/12 Day 4 of 20

Thanks SteveH. That makes sense.

Todays trading is over already. In order to avoid hitting my loss limit I had to stop. I made a bunch of mistakes today primarily sizing to big and thus taking myself out of the game. Now I am done for the day. Today is one of the worst days I have had in awhile but i still have 16 days of trading left to get it back on track.

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  #13 (permalink)
Elite Member
Chicago, Illinois
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: ES, CL
 
Posts: 14 since Dec 2011
Thanks: 0 given, 35 received

Trading day 11/16 Day 5


Today was another bear with TST. I have to say they are doing everything they can to try to solve these issues with the Ninja. In hindsight (anyone could be a monday morning quarterback) they probably should have waited another few months I have been in the software industry, internet related, for a long time and given the high demand for the NT and since they just wanted to make their traders happy they may have just released it a bit too soon. But as I have said before they are not promoting it yet, rightfully so and only offered it to the people that already knew of their company and who desperately wanted it. I have been in close contact with them to try to report issues as it is in mine and everyones interest who wishes to use the NT platform with them that they get things ironed out as quickly as possible.

For today, I simply have not had time to do my normal chart markups which I do like to post. Today was a winning day +2,800. Due to my losses yesterday I was very conservative especially in the first few hours, probably too much so. But -- thats okay as I had to get my head around all the execution issues, NT reboots, lost orders, etc. I really can put a cramp in your trading. But its a process and I want to continue to work with TST as they seem to very honest and are super willing to try their best to clarify issues as they arise.

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The following 5 users say Thank You to rickmaz for this post:
 
  #14 (permalink)
Elite Member
Lehrte, Germany
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: PTP / Rithmic
Favorite Futures: NQ
 
Daytrader999's Avatar
 
Posts: 1,161 since Sep 2011
Thanks: 1,137 given, 1,563 received

@rickmaz:
I really know what you're talking about and I can't agree more since I experienced the same issues !

But I just received an email from TST which you can find here: https://futures.io/elite-trading-journals/24150-daytrader999s-20-day-combine-tst-3.html#post280232

They will refund your Combine fee and give you a FREE Combine in addition !

So I think they'll get rid of all NT issues and start over again soon.

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  #15 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
Favorite Futures: Something moving
 
David_R's Avatar
 
Posts: 1,511 since Nov 2009
Thanks: 2,267 given, 2,370 received

[QUOTE/]
Van Tharp's words are golden on this subject:

page 265 - "WHAT TO AVOID"

"There is one kind of exit that is designed to get rid of losses, but it totally goes against the golden rule of trading of cut your losses short and let your profit run. Instead, it produces large losses and small profits. This type of exit is one in which you enter the market with multiple contracts and then scale out with various exits...On a gut level, this sort of trading makes sense because you seem to be "insuring" your profits. But if you step back from this sort of exit and really study it, you'll see how dangerous this type of trading is.

What you are actually doing with this sort of exit is practicing reverse position sizing. You are making sure that you will have multiple positions when you take your largest losses...It's a perfect method for people with a strong bias to be right, but it doesn't optimize profits or even guarantee profits"

--- "Trade Your Way To Financial Freedom" by Van Tharp[/QUOTE]

Is the situation described above true if ones stop is always less than ones first profit target? For example, assuming ones method allows for minimal risk on a trade ,and for sake of discussion it is a $1 stop, and the first target is always 2:1 or $2 and once that first target is hit you move your stop to break even, so even if you get stopped out on the rest of the position you make $2. Granted, if you did 100 trades with 2 units and 1/2 were full stop outs and 1/2 were only making $2 on the first target then after 100 trades you would be break even minus commissions, but not all winning trades will only be first target winners. I guess it's possible.

D

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  #16 (permalink)
Elite Member
cambridge/uk
 
Futures Experience: None
Platform: ninjatrader,t4,oanda,fxcm
Favorite Futures: forex,futures
 
Posts: 2 since Oct 2012
Thanks: 0 given, 1 received

good luck with combine! I gave up with Ninja Trader in the end and reverted to using T4, even though I have a live Ninja trader license. TST were very good, support wise.
One thing you can do to help make NT / TST more stable is to ensure that you don't close NT whilst you have positions open. If you close NT and a position gets closed via TST (stop loss / take profit etc.), when you re-open NT it won't pick up the trade exit.

NT say you can enter the trades manually. They e-mailed me this,

Should you miss any executions while NinjaTrader is not running, you can always manually add this execution by going to the Executions tab of the Control Center--> right click on the grid display and select "Add"


Please see our Help Guide article on How to Add and Execution for more information:
http://www.ninjatrader.com/support/helpGuides/nt7/executions_tab.htm



After adding the execution, it would be good practice to repair your DB under Tools--> Options--> Data tab--> select "Repair DB".


This should put the execution back in for the NinjaTrader account performance reporting to be in line with your broker statements.

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  #17 (permalink)
Membership Revoked
LA, California, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL,ES mainly
 
Victory Trader's Avatar
 
Posts: 531 since Sep 2011
Thanks: 205 given, 373 received

Best of luck on you combine attempt...

I plan on doing the 150 G's 10 day one soon as well... and was planning to use the NT platform... I played around with the T4 platform and for me it took a bit of getting use too. I was wondering if there was anyone who could post info etc on using the T4 for example can it be set up with a ATM strategy similar to that of the NT platform?.... Again best of luck to those who are doing the TST combine!!!!!

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  #18 (permalink)
Elite Member
Luxembourg
 
Futures Experience: Intermediate
Platform: Ninja trader, Metatrader.
Broker/Data: NinjaTrader Brokerage
Favorite Futures: FX, CL, GC.
 
yiehom's Avatar
 
Posts: 55 since Dec 2012
Thanks: 10 given, 40 received

Any particular reason for opting for the 150.000 figure instead of 30.000 ?


rickmaz View Post
I am starting this journal to outline my experience in doing a Combine with Top Step Trader. My road began awhile ago as it seems like Ninja Trader was promised (or hoped for) on TST for some time. Finally it is here. I was using their T4 software and was prepared to proceed with it as I grew tired of waiting for Ninja Trader to happen. Now that it is here I have stated the combine today. I should note that they still have some trade report issues. My goal was to post those daily on days I traded but since todays is not remotely accurate I will wait until they sort it out. My goal is to share my experience with the combine and answer any questions for anyone that is thinking about taking one or joining TST. I have had a membership for several months with them. I read other journals on futures.io (formerly BMT) of others that did the Combine and found it useful in my decision on whether i would go this route and try one myself. Also, since this is my first journal and I do not know exactly what others on here may be interested in seeing please do let me know. I am happy to provide as time allows. I was going to post my NT account performance but again was not sure what those on here wanted to see.

Today was a good day. I traded about 2 hours today 8:30-10:30 CST. My goal was to at least meet my daily avg necessary to pass the combine. I have a limit of 15 contracts and am trading CL and ES. Since i did not want to risk any drawdowns and if I did have any today I wanted them to be minimal i kept my position size small. My lot size was max 4 on ES and 2 on CL averaging abou 1.5 contracts per trade on CL and 2 on ES. I know this is very small but for my first day I thought it to be prudent to be more careful. My trading reflected that. I also had some technical glitches. They had me setup for max 5 lots. I actually had a 4 lot on my first ES trade and wanted to add to it but when i tried to add another 2 it would not let me. I quickly contacted TST and they resolved it but it did cost me some $$ as the trade was a winner. They also wanted me to check if it was fixed so I put a 15 lot on and then quickly took it off at break even just to make sure i could place and execute the trade. That cost 75.00 in commission alone as well. This again, is why i wanted to go smaller in case of any issues like this. I'm glad I did. I netted almost 800.00 today and will wait and see how long it takes them to iron out the reports. If i get anything close to accurate tonight i will update and post it but as of now they only have my CL report and nothing for ES.


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  #19 (permalink)
Elite Member
Temecula, CA
 
Futures Experience: Beginner
Platform: Ninja
Favorite Futures: CL
 
Posts: 147 since Sep 2012
Thanks: 91 given, 171 received

And have you completed the 20 days? How did it go?

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  #20 (permalink)
Elite Member
portland/oregon
 
Futures Experience: Intermediate
Platform: my fist
Broker/Data: DDT
Favorite Futures: cement
 
Posts: 63 since Sep 2012
Thanks: 39 given, 54 received

does anybody get funding


Has anybody actually been funded by TST?

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