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TST Combine Journal


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TST Combine Journal

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  #261 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

All this discussion about TST combine max DD and such would be better served to be in the main discussion thread for TST combines, as opposed to this journal. More people would benefit from it being there.


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  #262 (permalink)
Manchester, NH
 
Experience: Advanced
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Traderwolf View Post
I can assure you that is correct. I had the same misunderstanding and therefore traded too large of a size and the moment I exceeded this limit intraday, my platform acknowledged the violation and I was done for the combine. I was extremely disappointed since had I known this, I would have traded smaller size. I tried to get a redo on my combine but was unsuccessful.

Based on my experience, it is intraday unrealized loss limit, so your size and risk management procedures need to reflect that.

Best of Luck!

Traderwolf, thank you for sharing your experience. That's why I felt necessary to confirm my understanding of those numbers with them because their definitions leave room for misinterpretation. I have been "overly careful" with the max drawdown number also because I did not "trust" their own words on the website, LOL!

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  #263 (permalink)
In the heat
 
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Here is what almost all traders miss about the daily and max drawdown at TST, its there to protect against a bad day to be sure, BUT what TST is looking for is for YOU to control your own risk. In other words, they want you to quit long before you get to the max limit. Say its -$1000. They want to see you controlling risk well before this comes into play. So you trade 5 lots every trade and you have a 10 tick loser. Thats half of the daily limit. Are you going to take another 5 lot trade with a ten tick stop? I think not.

Instead, you need to trade less than max size, 1-3 max most of the time, build the account and when you have some cushion and you are up on the day and you can afford a 10 tick loss on 5 lots go for it...otherwise stay the hell away from trading max size and stay way the hell away from the daily loss limit. If you win the combine but have many days where you got close to limit and recovered (unlikely) they probably wont select you do to lack of personal risk control.

However, if you demonstrate personal discipline by limiting yourself, you will have a much better chance of making it past the review.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #264 (permalink)
Pittsburgh, Pennsylvania
 
 
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indextrader7 View Post
All this discussion about TST combine max DD and such would be better served to be in the main discussion thread for TST combines, as opposed to this journal. More people would benefit from it being there.

That's why I posted in the relevant thread an email from TST when I asked this very question:



Sort answer, you can not dip below either DLL or Max DD....(because there is no guarantee the position will improve)

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  #265 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

I just signed up for a standard 150k, 20-day combine.

Start date Tuesday, April 2.

 
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  #266 (permalink)
Pittsburgh, Pennsylvania
 
 
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indextrader7 View Post
I just signed up for a standard 150k, 20-day combine.

One word of advice, T4 handles the allowed number of contracts a bit strange. The OCO orders are also counted in the number of already traded contracts, even if they are just standing orders. Nevertheless, since they are there sitting, "the number of actually allowed to trade at the same time" contracts will be less than 15.

An example: You are long 5 ES contracts, with OCO orders sitting there as a target/stop loss. You can only trade 5 more contracts, not 10, because the possible 5 sitting order counts against you. If you want to trade another 10, you have to kill the OCO first. (which is not a good idea, because you have to have a stop loss order all the time)

So you might want to experience with this before you get surprised during the Live trading... When I was trading 3 different products at once, I kept running into this problem all the time...

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  #267 (permalink)
Manchester, NH
 
Experience: Advanced
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Posts: 25 since Mar 2013
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Pedro40 View Post
One word of advice, T4 handles the allowed number of contracts a bit strange. The OCO orders are also counted in the number of already traded contracts, even if they are just standing orders.....

I found out this during the 2 week trial. This was one of those surprises! I wrote TST an email, arguing that at any given time an open position of 5 contracts with OCO parking can only be counted as 5 (position ON) or zero (position filled at target or stop), never more than 5. But they would not listen. They simply said to the effect that this was the way they control risks for all possible outcomes. I say removing first set of OCO then add positions is a whole lot more risky.

Anyway, good luck to IT7 in his combine.

MsFutures

ps, if you think this topic is better served at the main TST forum, please move my post over there. futures.io (formerly BMT) rule says I have to have 10 posts in order to post anything there. I am getting there!

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  #268 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Trading from laptop (+ an extra monitor) from a remote location today.

At upper area of the channel in ES. The game plan is to start by fading moves on the outside of the initial swing this morning. Play for mean reversion until clear direction, if any, is shown.

If we work our way lower to the other end of the channel, that would be a normal scenario.

If we break above the channel, and are able to hold the upper line on a retest, lookout.

I don't see either one of those happening today though. I don't predict though, I'll flow with whatever happens. I will start out the day though, fading moves outside OS.


 
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  #269 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Even though my combine isn't starting until tomorrow. I can already feel fear creeping in. "What if you don't do as well as you have been during practice?... Will people think you've just been making up stuff?"

I know it's silly, and I'll push through it, but just being honest with some things that are popping in the head.

The best thing is that I am in touch and AWARE of the feelings/emotions. I'll do my best to make sound trading decisions despite them. Acknowledging them is half the battle. #mymonkey

 
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  #270 (permalink)
Vizag+india
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Nifty
 
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Posts: 90 since May 2012
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Based on webinar they should have combine in Ninja by March end.

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