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Top Step Trader Combine 20 day 150k
Started:November 5th, 2012 (06:03 PM) by rickmaz Views / Replies:8,414 / 22
Last Reply:September 12th, 2016 (08:14 PM) Attachments:9

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Top Step Trader Combine 20 day 150k

Old December 14th, 2012, 12:55 AM   #21 (permalink)
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Has anybody actually been funded by TST?

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Old January 7th, 2013, 12:29 PM   #22 (permalink)
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David_R View Post
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

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.


I think that Van Tharp is wrong or making assumptions not in the quote and/or the statement is oversimplification -
to make a point about "letting winners run" but it all dependent about distances to targets and what "letting" it run means. If a person has a 3.75pt T1 (target !) and 5.75pt T2 and a 7.75pt T3 and expected probabilities of 67%, 22% and 11% respectively - then when they are at T1 they have already "let them run".

Being too greedy and going all out for an exit can mean letting a winner turn into a loser.
So much depends upon the market, trade conditions, stop levels and many over factors.
If your position size is 9 and you sell 6 at T1 and 2 at T2 and hold the last for a trail you can be reducing your average cost and risk by scaling out while maximizing the expected profit

So I think David has a good case.

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Old September 12th, 2016, 08:14 PM   #23 (permalink)
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What happened to this TST combine?

I was just wondering what happened to this TST combine as updates/journal seem to have gone to the wayside...

- nguyen74

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