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TST Combine Journal

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  #501 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

I've had several moments of gratitude here publicly on futures.io (formerly BMT). I never figured I would have one regarding my broker.

I have a small fry account at Stage 5. I say this to let you know that I'm not some big fish that they would really have the incentive to care much about.

I can not believe how much they DO care.

@FuturesTrader71 and the team at Stage 5 are unbelievably generous. Me and even my small fry account, get amazing attention and personalized advice because they actually, genuinely care about their traders well being. Think about it... they refer to us as "their traders"... It's a subtle thing... but it has deep implications in how they treat us. I've had accounts at half a dozen brokerages before, and believe me... I've been a "customer" at every one.

I don't know... I just felt like saying thank you to the time and energy that FT puts into his "traders", because it's waaaaay above and beyond anything that would be expected. It's worth way more than what the commissions they get from my account.

I know I've heard some people here bash trading rooms and such... and for some good reasons... but to be a part of the group of traders helping each other grow there is also something I've come to be proud of. You guys know who you are.

Just what is on my mind after my daily trade review and journaling today.

Much love

-IT7

 
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  #502 (permalink)
 xelaar 
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Great stuff. I liked FT71 webinars a lot and find them to be ones of the best for risk management and trading mentality guidances. I considered opening an account at Stage5 as a client, but don't like huge margins. I always prefer to send only a necessary margin and a max dd money to my broker, instead of having there a substantial sum sitting doing nothing while I swing 2% portion of it. Good business for them to invest into money market funds, bad business for me.

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  #503 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

It's been over a year since I've posted here. It's been over a year of relentless hard work.

Recently I started a combine. Today I passed that combine.

Today I'm 100 times the trader I was a year ago - in terms of belief system, in terms of self-awareness, and even in terms of being a technical analyst. Don't get me wrong, I still have work to do, and I always will, but as hard as things have been... as hard as I've been on myself... it's fitting to take a little time for a pat on the back. We should be good to ourselves whenever possible, but always realistic.

I felt obligated to share this here, as so many people took time out of their schedules to drop me words of wisdom, words of truth, and words of encouragement. I appreciate all of you.

Cheers to crushing goals! I'll post further updates as things finalize.

-IT7

 
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  #504 (permalink)
 iqgod 
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indextrader7 View Post
It's been over a year since I've posted here. It's been over a year of relentless hard work.

Recently I started a combine. Today I passed that combine.

Today I'm 100 times the trader I was a year ago - in terms of belief system, in terms of self-awareness, and even in terms of being a technical analyst. Don't get me wrong, I still have work to do, and I always will, but as hard as things have been... as hard as I've been on myself... it's fitting to take a little time for a pat on the back. We should be good to ourselves whenever possible, but always realistic.

I felt obligated to share this here, as so many people took time out of their schedules to drop me words of wisdom, words of truth, and words of encouragement. I appreciate all of you.

Cheers to crushing goals! I'll post further updates as things finalize.

-IT7

IT felt really good to hear this.

Bravo!

It must have been an amazing journey!

I am proud of you.

- iqgod

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  #505 (permalink)
 Daytrader999 
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indextrader7 View Post
It's been over a year since I've posted here. It's been over a year of relentless hard work.

Recently I started a combine. Today I passed that combine.

Today I'm 100 times the trader I was a year ago - in terms of belief system, in terms of self-awareness, and even in terms of being a technical analyst. Don't get me wrong, I still have work to do, and I always will, but as hard as things have been... as hard as I've been on myself... it's fitting to take a little time for a pat on the back. We should be good to ourselves whenever possible, but always realistic.

I felt obligated to share this here, as so many people took time out of their schedules to drop me words of wisdom, words of truth, and words of encouragement. I appreciate all of you.

Cheers to crushing goals! I'll post further updates as things finalize.

-IT7

That's really good news and great to hear, especially after all the trouble you've been going through one year ago...

So, congrats for passing the combine and I'm looking forward to your updates on your journey.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #506 (permalink)
 cmmichaels 
London England
 
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indextrader7 View Post
It's been over a year since I've posted here. It's been over a year of relentless hard work.

Recently I started a combine. Today I passed that combine.

Today I'm 100 times the trader I was a year ago - in terms of belief system, in terms of self-awareness, and even in terms of being a technical analyst. Don't get me wrong, I still have work to do, and I always will, but as hard as things have been... as hard as I've been on myself... it's fitting to take a little time for a pat on the back. We should be good to ourselves whenever possible, but always realistic.

I felt obligated to share this here, as so many people took time out of their schedules to drop me words of wisdom, words of truth, and words of encouragement. I appreciate all of you.

Cheers to crushing goals! I'll post further updates as things finalize.

-IT7

Still the man

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  #507 (permalink)
 DarkPoolTrading 
PTA, Gauteng
 
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Congrats! Will you be posting your TST trade report?

Diversification is the only free lunch
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  #508 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


DarkPoolTrading View Post
Congrats! Will you be posting your TST trade report?

Indeed. I plan on doing a full summary, per the intention of this thread.


Thanks everyone for your well wishes!

 
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  #509 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Here's the first part of the review I will post; the general stats. I've mentioned before that the TST Trade Report stats are not even close to accurate for someone that scales in and out of trades. My stats here are calculated on a one trade being flat to flat basis. All calculations include commission costs.


 
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  #510 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

And here is the TST Report through yesterday.

A bit more clarity for you all. Technically, I am not through, but practically I am. Profit target is achieved with a surplus of $235 as of yesterday which was day 6 out of 10. The only thing I could potentially not satisfy is the >50% winning days. I had a profitable morning scalp today to achieve another winning day. So I've had 5 profitable days in the books through today (day 7). That leaves me having to be profitable on 1 of the remaining 3 days to lock that in at 60% winning days.




I will continue to update. I also will do more of a qualitative review of the combine and the year of work and growth.

 
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  #511 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Brett Steenbarger recently ended an article with this simple line:


Quoting 
The work we're meant to do is not what we push ourselves to do; it's what no one can keep us from doing.


This could not ring more true with me.

 
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  #512 (permalink)
 cejstrup 
Denmark
 
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Congrats and thanks for sharing

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  #513 (permalink)
 DeadCatBounced 
Baltimore MD US
 
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Congrats!

Just a word as you think about taking the next step - you have a few trading days left to cruise through the combine. But stay focused!

Odds are they will want you to go through Live Trader Prep after this if you indeed want a funded account. I passed the same (50k) combine recently and they moved me to LTP. You only have to make $1500 in atleast 10 trading days so the target is very doable but what they want I think is to watch people stay focused and continue to execute their plan over a longer period then just 10 days.

I also reached the profit target early on my combine and just did a 1 trade scalp to make the 10 day count. When I asked about doing that in the LTP what they said was that they "reserve the right to fund traders if the LTP does not match realistic trading" or something like that. He said they don't hold it at all against you in the combine because you want to ensure that you can get to the next step. But if you are doing that consistently in LTP that is showing them you do not have faith in your trading plan etc.

So I guess the takeaway is that I would do everything you can to make sure you finish that combine out where it is But just stay focused as you take that next step!

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  #514 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Ok, got the tick this morning. Officially satisfied all req's now other than "trade" two remaining days. So two days to just give a trade a go and keep potential losses (stops) well within the profit cushion I have beyond the profit target requirement.

 
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  #515 (permalink)
 PandaWarrior 
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Congrats...you've worked hard for this....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #516 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

It's officially done.




I will say that one of the (many) things that led to the ultimate turnaround of my trading was learning how to have my good winning days be multiples of my daily loss limit days. For a long, long time I struggled with how to practically accomplish this. I knew theoretically how to do it, but I had to learn how to carry it out.

With winning days being multiples of my daily loss limit days, I was "free'd up" to mentally say "IT'S OK" to have the daily loss limit days, and ACCEPT THEM WHEN THEY DO COME. Up until that point, I was never never ok with a daily loss limit day, because deep down I knew that it would wipe out 2 days or a week of winnings. I could not accept those days as they were happening, which led to an entire worse bag of behaviors. In a nutshell, I had to re-wire myself to learn how to be a good loser. Not much good in any performance activity can come if you have not first learned how to be a good loser.

 
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  #517 (permalink)
 Daytrader999 
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indextrader7 View Post
It's officially done.

I will say that one of the (many) things that led to the ultimate turnaround of my trading was learning how to have my good winning days be multiples of my daily loss limit days. For a long, long time I struggled with how to practically accomplish this. I knew theoretically how to do it, but I had to learn how to carry it out.

With winning days being multiples of my daily loss limit days, I was "free'd up" to mentally say "IT'S OK" to have the daily loss limit days, and ACCEPT THEM WHEN THEY DO COME. Up until that point, I was never never ok with a daily loss limit day, because deep down I knew that it would wipe out 2 days or a week of winnings. I could not accept those days as they were happening, which led to an entire worse bag of behaviors. In a nutshell, I had to re-wire myself to learn how to be a good loser. Not much good in any performance activity can come if you have not first learned how to be a good loser.

Congrats, great job and very well done !

I need to internalize this good behavior as well...I'm still working on it.

Now I'm very curious if TST wants you to go through the LTP as well before you get a funded account...

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #518 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Daytrader999 View Post
Congrats, great job and very well done !

I need to internalize this good behavior as well...I'm still working on it.

Now I'm very curious if TST wants you to go through the LTP as well before you get a funded account...

If I were the boss, it would be a tough decision but ultimately, I would send this trader through LTP. Why?

On one hand this trader has a checkered past with blowing combines and not respecting his risk, but on the other hand over time there have been stark improvements in this traders risk management. Clearly they are improving and working hard at this.

Another point is that there is a valid argument that the system was "gamed" for days 7-10 of this combine. This is true, I totally abandoned my normal trading. Why? Because of A) I'm aware that I'm succeptible to having a stretch of losing days come up as there is a totally RANDOM distribution between profitable and unprofitable trading days in my results. I am not willing to risk going through a rough patch and messing things up. This ties into point B) TST sets up the game, they set up how the traders in a combine are incentivized. I have a hard time seeing how they could really fault me for coasting out the last few days, but also understand that they may want to see more trading from me fro doing so.

Ultimately, I don't care either way. I'm ready for either. They cite LTP as being mostly for prepping traders for the live environment and the hurdles that come with that (psychologically). This does not apply to me as I have traded much much larger size than 2 lots for a 50k account. I'm not phased by going "live".

I'll keep you posted on what's next! I've worked hard and I am enjoying this small victory.

 
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  #519 (permalink)
 cejstrup 
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Congrats

I think you're right. You might need to go through LTP. But that shouldn't be a concern. Just keep doing what you're doing and you'll be fine

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  #520 (permalink)
 ProLeagueTrading 
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WTG Rolltide, just came across your journal again after a long time. Great progress and best of luck on the next steps!

RobinHood

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  #521 (permalink)
 tturner86 
Portland, Oregon
 
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indextrader7 View Post
It's officially done.




I will say that one of the (many) things that led to the ultimate turnaround of my trading was learning how to have my good winning days be multiples of my daily loss limit days. For a long, long time I struggled with how to practically accomplish this. I knew theoretically how to do it, but I had to learn how to carry it out.

With winning days being multiples of my daily loss limit days, I was "free'd up" to mentally say "IT'S OK" to have the daily loss limit days, and ACCEPT THEM WHEN THEY DO COME. Up until that point, I was never never ok with a daily loss limit day, because deep down I knew that it would wipe out 2 days or a week of winnings. I could not accept those days as they were happening, which led to an entire worse bag of behaviors. In a nutshell, I had to re-wire myself to learn how to be a good loser. Not much good in any performance activity can come if you have not first learned how to be a good loser.

Good stuff right there.

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  #522 (permalink)
 bobwest 
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indextrader7 View Post
It's officially done.




I will say that one of the (many) things that led to the ultimate turnaround of my trading was learning how to have my good winning days be multiples of my daily loss limit days. For a long, long time I struggled with how to practically accomplish this. I knew theoretically how to do it, but I had to learn how to carry it out.

With winning days being multiples of my daily loss limit days, I was "free'd up" to mentally say "IT'S OK" to have the daily loss limit days, and ACCEPT THEM WHEN THEY DO COME. Up until that point, I was never never ok with a daily loss limit day, because deep down I knew that it would wipe out 2 days or a week of winnings. I could not accept those days as they were happening, which led to an entire worse bag of behaviors. In a nutshell, I had to re-wire myself to learn how to be a good loser. Not much good in any performance activity can come if you have not first learned how to be a good loser.

I just saw this -- congratulations!

This is very good work, and I'm happy that you've nailed it so well.

Bob.

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  #523 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Live Trader Prep it is. Will let you all know how it goes once complete. Adios for a while.

 
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  #524 (permalink)
 Hulk 
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indextrader7 View Post
Live Trader Prep it is. Will let you all know how it goes once complete. Adios for a while.

Well done. Good luck with the live trader prep.

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  #525 (permalink)
 jmsUK 
Manchester, Greater Manchester, UK
 
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indextrader7 View Post
It's officially done.


With winning days being multiples of my daily loss limit days, I was "free'd up" to mentally say "IT'S OK" to have the daily loss limit days, and ACCEPT THEM WHEN THEY DO COME. Up until that point, I was never never ok with a daily loss limit day, because deep down I knew that it would wipe out 2 days or a week of winnings. I could not accept those days as they were happening, which led to an entire worse bag of behaviors. In a nutshell, I had to re-wire myself to learn how to be a good loser. Not much good in any performance activity can come if you have not first learned how to be a good loser.

Good job..well done!
What you say above is SOOO important.
1 good day / 1 bad day.. The good days HAVE to be so much better than the bad days.
That's my target too.
Head down going forward

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  #526 (permalink)
gorka1
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Congrats !!! Well done

Looking forward to your feedback on live trader prep :-)

cheers

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  #527 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Thought I would post an update for LTP so far.

Started on Friday, August 8th with a small winning day. Monday and Tuesday of the next week put me down $1k which is at the weekly loss limit for LTP, so I proceeded to destroy the market which gave range extension on sim for the rest of the week...

Last week (8/18 - 8/22) I was on vacation and limited my trading to a couple hours in the morning. I was profitable all 5 days, but it was very limited as I had the direction right for the day, but didn't stick around to let the range extension pay me.

Looking forward to this week.

$1,500 is the profit target. I have to trade a minimum of 10 days (but have 2 months if I need it to hit target). Would be nice to finish it off this week and get funded. No rush though, one trade at a time.


 
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  #528 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Flat-to-flat stats so far for LTP. They should be better than this.


 
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  #529 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

13 ticks from the finish line.

Today's LTP Trade Report


 
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  #530 (permalink)
 Scalpingtrader 
Hanover, Germany
 
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... looking forward to the newest funded trader interview

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  #531 (permalink)
 tturner86 
Portland, Oregon
 
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indextrader7 View Post
13 ticks from the finish line.

Today's LTP Trade Report


So what is LTP like with TST? Just trying to get a feel for what it is like one step closer to the end.

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  #532 (permalink)
 Scalpingtrader 
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tturner86 View Post
So what is LTP like with TST? Just trying to get a feel for what it is like one step closer to the beginning .

FYP.

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  #533 (permalink)
 indextrader7 
Birmingham, AL
 
 
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tturner86 View Post
So what is LTP like with TST? Just trying to get a feel for what it is like one step closer to the end.

It's my understanding that LTP is not the same for everyone, so I can only speak to my situation:

My combine was 50k, with 1k DLL, 2k max DD, and 3k profit target. Also this was 10 days total, and you you had to have a winning day % of atleast 55% (which means you must have at least 6/10 days winning).

My LTP is 50k, with same DLL, and max DD, but a profit target of only 1.5k. Also, they added a weekly loss limit of $1k, (yes the WLL is the same as the DLL). I pushed back against that, but they were not willing to budge. They're reasoning is preservation of mental/emotional capital.

LTP also has a percent of days that are winning requirement just like regular combine. This winning day % requirement kicks in/is assessed starting on day 10, which is also the minimum number of days you must trade for LTP. You have 60 calendar days to continue trading PAST day 10 if you need it in order to hit the profit target. This is also a difference between combine and LTP. Combine is over period when you have traded your 10th day.

John Hoagland called me a few days after completing combine, and the call was for him to simply read me the rules of LTP and me verbally acknowledge that I understand. He did ask a tiny bit about my trading, but not much at all. I was able to get one exception to the typically implemented rule of not adding to position size unless up x amount for the day. I am able to add to any winning position regardless of where I am at for the day. (of course within DLL/WLL/MDD confines) This makes the most sense for me as each trade is a totally independent event from the last, and I need to be able to continue executing my edge and pressing when I am right. (which is also why I hate the weekly loss limit). Also, on our call, it was stated that I am not to hold any position into crude inventories, and although I have permission to trade up to 4-5 lots, I cannot initially enter into a position with anything larger than a 2 lot.

I hope this answers your question.

Ultimately, all I want is to have a real cushion in an account, any account, so that I can just have at it each day with a reasonable DLL that reflects a reasonable risk of total % of assets. I just want to be able to breathe. I needed TST though. I needed some kind of boss. I wanted one for years. I went down a wild gunslinging trading path for a while, which this thread captured beautifully/horrifically, and TST structure helped me form the habits I had to form.

-IT7

 
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  #534 (permalink)
 tturner86 
Portland, Oregon
 
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indextrader7 View Post
It's my understanding that LTP is not the same for everyone, so I can only speak to my situation:

My combine was 50k, with 1k DLL, 2k max DD, and 3k profit target. Also this was 10 days total, and you you had to have a winning day % of atleast 55% (which means you must have at least 6/10 days winning).

My LTP is 50k, with same DLL, and max DD, but a profit target of only 1.5k. Also, they added a weekly loss limit of $1k, (yes the WLL is the same as the DLL). I pushed back against that, but they were not willing to budge. They're reasoning is preservation of mental/emotional capital.

LTP also has a percent of days that are winning requirement just like regular combine. This winning day % requirement kicks in/is assessed starting on day 10, which is also the minimum number of days you must trade for LTP. You have 60 calendar days to continue trading PAST day 10 if you need it in order to hit the profit target. This is also a difference between combine and LTP. Combine is over period when you have traded your 10th day.

John Hoagland called me a few days after completing combine, and the call was for him to simply read me the rules of LTP and me verbally acknowledge that I understand. He did ask a tiny bit about my trading, but not much at all. I was able to get one exception to the typically implemented rule of not adding to position size unless up x amount for the day. I am able to add to any winning position regardless of where I am at for the day. (of course within DLL/WLL/MDD confines) This makes the most sense for me as each trade is a totally independent event from the last, and I need to be able to continue executing my edge and pressing when I am right. (which is also why I hate the weekly loss limit). Also, on our call, it was stated that I am not to hold any position into crude inventories, and although I have permission to trade up to 4-5 lots, I cannot initially enter into a position with anything larger than a 2 lot.

I hope this answers your question.

Ultimately, all I want is to have a real cushion in an account, any account, so that I can just have at it each day with a reasonable DLL that reflects a reasonable risk of total % of assets. I just want to be able to breathe. I needed TST though. I needed some kind of boss. I wanted one for years. I went down a wild gunslinging trading path for a while, which this thread captured beautifully/horrifically, and TST structure helped me form the habits I had to form.

-IT7

Your the first person I've seen in LTP. So it is interesting to see how that goes and what the requirements are. Thank you!

What happens when you hit your target? Is it over, or do you still have to complete 10 days?

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  #535 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


tturner86 View Post
Your the first person I've seen in LTP. So it is interesting to see how that goes and what the requirements are. Thank you!

What happens when you hit your target? Is it over, or do you still have to complete 10 days?

Tomorrow is my 10th day. I will be well above any winning day % req's, so I won't be "stopped" even if I dont' make 13 ticks tomorrow.

It will end when I have traded at least 10 days, and have met the profit target, without dipping under, DLL, WLL, MDD, or req win day %.

Feels like trading for the IRS.

 
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  #536 (permalink)
 tturner86 
Portland, Oregon
 
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indextrader7 View Post
Tomorrow is my 10th day. I will be well above any winning day % req's, so I won't be "stopped" even if I dont' make 13 ticks tomorrow.

It will end when I have traded at least 10 days, and have met the profit target, without dipping under, DLL, WLL, MDD, or req win day %.

Feels like trading for the IRS.

I bet.

May tomorrow bring the final tick, if not remember what we say to death. Not today.

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  #537 (permalink)
 dakine 
Volcano, HI
 
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indextrader7 View Post
Not much good in any performance activity can come if you have not first learned how to be a good loser.

TRUTH!

Now that you've learned how to be a good loser its time to start honing in on how to be a great winner.

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  #538 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Even though it's been split up into two events (combine and live trader prep) it's really been one test of trading. I thought I would view some data as such.

The following chart is a daily P/L and cumulative P/L chart that shows combine and LTP with any "gamed" days removed so only truly traded days are left.

Why the difference in daily performance between the two? They cut my profit target in half, so I only needed half the risk appetite. Pretty clear to see in the results. This shows how having a boss that sets the rules really will shape your performance.



Enjoy a day-in, day-out trader dropping their pants for you like this. We're coming to a time where this is likely the last real look into my trading that will be seen.

Hopefully my journey at futures.io (formerly BMT) has let people see weakness and flaws to avoid, as well as some good things to emulate, as well as pure inspiration seeing that it can be done.

This thread will be closed pretty shortly after completing LTP. I'll hang around for a few questions then I'll ask for it to be closed.

 
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  #539 (permalink)
 Zondor 
Portland Oregon, United States
 
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Sincere congratulations on your very real and impressive accomplishments so far; hopefully there will be a tangible payoff for your sustained and disciplined efforts.

It's unfortunate that you plan to discontinue posting after LTP. Especially in light of the fact that I have not been able to find any such postings anywhere, by anyone. Sometimes I wonder, just a little bit, what these Contests of Skill (see Topstep website Terms of Service) really lead to.

"If we don't loosen up some money, this sucker is going down." -GW Bush, 2008
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 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Zondor View Post
Sincere congratulations on your very real and impressive accomplishments so far; hopefully there will be a tangible payoff for your sustained and disciplined efforts.

It's unfortunate that you plan to discontinue posting after LTP. Especially in light of the fact that I have not been able to find any such postings anywhere, by anyone. Sometimes I wonder, just a little bit, what these Contests of Skill (see Topstep website Terms of Service) really lead to.

Thanks for your kind words.

I'll still be around on the CL Crude-nalysis thread, and sharing on the IT7 journal. This TST Combine thread has about run it's course though. Anything beyond LTP would be off-topic IMO.

I think futures.io (formerly BMT) in general becomes something different to a trader through their progression as/into a trader. I imagine many others who have "made the turn" feel a similar way. I came to futures.io (formerly BMT) looking (as you can see in my very post ever) to compare stats with other successful traders, share ideas, hear ideas, see how I stack up, etc. I was clueless in terms of everything trading, had never talked to another trader, and clueless about my own self. This first stage of futures.io (formerly BMT) could be called "searching". I was sharing everything I knew with people. Anyone who would ask. I remember doing video explanations just for any question that was asked.

As I grew, it changed from searching outwardly, to searching inwardly. This was only compounded with the public failure of launching a fund. It took a lot of pain to work through that pain.

It's different now. Heck, I'm worried about brokers reverse engineering what I'm doing these days. I have such an edge (and something totally unique to me) that I have only revealed it to one of my closest friends. I'm almost paranoid about it. Vic Niederhoffer, who I've had the pleasure of coming into contact with, has shared a few lessons in the prudence of privacy with me. He's seen it first hand.

So in terms of futures.io (formerly BMT)ers disappearing after something like passing LTP, it's pretty simple. This is trading man. I mean you no disrespect or harm, and I kind of wish you the best, but really you and I are here to take money from each other. It's true; we're competitors if not enemies. Yes it's a big world, and a big market, but there can only be few winners and many losers. It's the only way the disproportionate income is made available to the winners.

I'm a young man. I've been wrong a lot in my life. I'll be wrong a lot more. These are my current views on the world, and I'm always open to healthy discussion and new ideas. One thing I have always been here is honest. I don't sugar coat, or play office politics. People are often offended by my shortness/matter-of-fact style but I mean no harm. I always seek truth above all else.

I consistently help others where I can here at futures.io (formerly BMT) (in any non trading methodology way). I am more than willing to share what I believe to be the truth with others always in terms of what the markets are, psychology, money management, risk management, process, belief systems, etc which are essential pieces of the puzzle.

I'm ranting. Thanks again for the kind words.

 
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  #541 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

What is this amateur hour? Pressure got to me.




lol

 
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  #542 (permalink)
 cejstrup 
Denmark
 
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Oops getting close.. Keep it up man

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  #543 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Passed LTP just now.


Will hang around for a few questions if there are any, post the official trade report tonight, then will close thread.


THANKS TO ALL OF YOU, WHICH I WILL LIKELY PM, THAT LENT A HELPING HAND OR WORD OF ENCOURAGEMENT. ESPECIALLY THOSE THAT TOOK THE TIME TO HELP IT WHEN I WAS JUST ABOUT DOWN AND OUT LAST YEAR.

I'M GRATEFUL FOR THAT.

 
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  #544 (permalink)
 cejstrup 
Denmark
 
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Congrats !!


Well done


Just one question. Was it hard to focus on the process and the current trade and not on the end goal ?? Since this is a dream of yours (and all of us in here ) to get funded as a trader. And what did you do to maintain focus ?

ok that was 2 questions

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  #545 (permalink)
 ProLeagueTrading 
Victoria British Columbia
 
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Hey IT7,

I've only recently came across your journals and your story. Really impressive! Can't wait for your NFT Interview Thanks so much for all the effort you've put into your public journal one of the best I've read and a great journey you've taken us all on, thru all the ups and downs of what it really takes to make it in this industry!

All the best man,
LoneWolf aka
RobinHood

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 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


cejstrup View Post
Congrats !!


Well done


Just one question. Was it hard to focus on the process and the current trade and not on the end goal ?? Since this is a dream of yours (and all of us in here ) to get funded as a trader. And what did you do to maintain focus ?

ok that was 2 questions

Thank you, and good questions.

TODAY was hard. Being so close, it was very difficult; my palms were sweaty, etc, etc. But, having emotion is one thing, and acting properly DESPITE that emotion is a critical trait of a consistently successful trader.

It was not hard at all until today though. Before today I just had a mission to carry out, and I did not think about anything other than my process which includes watching my risk. TODAY I was locked in on 13 ticks, 13 ticks, I traded for 13 ticks all night in my half-sleep, I finally just got up at 5am. You see, it's important to be able to act properly despite emotion, but it's even more important to have proper focus/goals/beliefs so that you can actually bypass the negative emotion in the first place!

You answered your 2nd question within your first question. One word. Process. A trader's best friend is his process. It's something that must be crafted around your strengths and weaknesses as a trader and it is something to fall back on when bullets are flying and you're scared.

 
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  #547 (permalink)
Pedro40
Pittsburgh, Pennsylvania
 
 
Posts: 563 since Jan 2013
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Hey, nice work, congrats! Although the real work is just coming and I think we all would like to hear an update from time to time. So my questions are about the future:

1. What would you call a success as a Funded Trader let's say 3 months and 1 year from now?

2. What is your strategy going to be for building the cushion, if any special approach?

3. Will you give us an occasional update, even if it is just "I am still funded and making money", no real numbers necessary?

If the answer is no to the last question, it is understood and good luck with your real money trading!

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  #548 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
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indextrader7 View Post
Passed LTP just now.


Really good news. Congratulations.

Bob.

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  #549 (permalink)
 cmmichaels 
London England
 
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indextrader7 View Post
Thank you, and good questions.

TODAY was hard. Being so close, it was very difficult; my palms were sweaty, etc, etc. But, having emotion is one thing, and acting properly DESPITE that emotion is a critical trait of a consistently successful trader.

It was not hard at all until today though. Before today I just had a mission to carry out, and I did not think about anything other than my process which includes watching my risk. TODAY I was locked in on 13 ticks, 13 ticks, I traded for 13 ticks all night in my half-sleep, I finally just got up at 5am. You see, it's important to be able to act properly despite emotion, but it's even more important to have proper focus/goals/beliefs so that you can actually bypass the negative emotion in the first place!

You answered your 2nd question within your first question. One word. Process. A trader's best friend is his process. It's something that must be crafted around your strengths and weaknesses as a trader and it is something to fall back on when bullets are flying and you're scared.

Great work, loved this post as well, I'm glad you're going to stick around here as you know I've always been a big fan.

Plus English people invented sarcasm... we love it

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  #550 (permalink)
 Daytrader999 
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indextrader7 View Post
Passed LTP just now.


Will hang around for a few questions if there are any, post the official trade report tonight, then will close thread.


THANKS TO ALL OF YOU, WHICH I WILL LIKELY PM, THAT LENT A HELPING HAND OR WORD OF ENCOURAGEMENT. ESPECIALLY THOSE THAT TOOK THE TIME TO HELP IT WHEN I WAS JUST ABOUT DOWN AND OUT LAST YEAR.

I'M GRATEFUL FOR THAT.

Congrats, you've done a great job my friend !

...And putting all that charting stuff aside, IMHO the last few posts contain the most valuable insights of all...

I wish you best of luck for your new 'job' as a funded trader, always keep an eye on your 'boss'...

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #551 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Live Trader Prep - Final Trade Report



Ignore the stats. I hope TST doesn't actually use these. They're flat out wrong. For example, they average in zeroes on days where there was no loser/winner/TIT/etc. Horrendous.

Anyways. @Big Mike close her up.

See you around.

-IT7

I'll make an announcement about the "Newest Funded Trader Interview" on my IT7 Journal in elite journals section for those interested in listening in.

 
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  #552 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

I kind of hate to do this, as I am sure I will miss somebody, but I've gone through a large portion of this thread tonight and I want to thank many people.

In no particular order, a huge heartfelt thank you goes out to these people, for lending a helping hand, it did help.

@amgtrdr
@jimjones26
@aquarian1
@kevinkdog
@Brewer20
@cmmichaels
@Surly
@Big Mike
@iqgod
@josh
@AttitudeTrader
@PandaWarrior
@lancelottrader
@WarEagle (rolltide)
@efutures
@SteveH
@jinhar
@TonyParisi
@Daytrader999
@omni72
@FuturesTrader71
@Jyrgen
@rubyslippage

Not sure where you guys are in your own journeys, but never, never, never, never give up.

 
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  #553 (permalink)
 mykee 
Johor, Malaysia
 
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Congrats Indextrader7!

Good luck and thanks for all the wonderful things you shared here.

 
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  #554 (permalink)
JTurner77
Los Angeles, CA
 
 
Posts: 68 since Dec 2011
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Congrats.

However, are you guaranteed a trading gig now that you passed the second stage? I was under the impression, perhaps mistaken one, that you still weren't guaranteed a trading gig even if you made it this far. Or that you could potentially have to do the LTP again.

 
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  #555 (permalink)
 iqgod 
Market Wizard
Mumbai, India
 
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It was great to see your journey, with its ups and downs.

Of course the journey will continue even though the curtains fall on this show.

I wish you the very best and hope that you will continue achieving success in all spheres of life!

Regards,
iqgod

P.S.: This is as a good friend: You obviously have covered a very thorny road and lots of applause is due. I sincerely applaud you. However in some of your posts I sadly sensed underpinnings of a certain non-benign spirit taking form that sometimes is capable of undoing the achievements and great strides taken by you - but perhaps that same spirit carries us on as traders and takes us to the top. Perhaps it is how it is for all of us in life. Like all facts of life this seems to be one of them. I believe the best fund managers, alpha masters have this streak. Sometimes that is the very reason of their sustained success - no wonder, because they are contrarians and usually have to face the world square on like having their backs to a wall with packs of wolves closing in, having only themselves to support the weight of their decisions.

I wish you only the very best and may God answer all your prayers. Smile and make the world smile.


“The little cares, fears, tears, timid misgivings, sleepless fancies of I don't know how many days and nights, were forgotten under one moment's influence of that familiar, irresistible smile.”
― William Makepeace Thackeray

Again, I wish you only the very best and may God answer all your prayers.

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  #556 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


JTurner77 View Post
Congrats.

However, are you guaranteed a trading gig now that you passed the second stage? I was under the impression, perhaps mistaken one, that you still weren't guaranteed a trading gig even if you made it this far. Or that you could potentially have to do the LTP again.

John Hoagland called today, and he confirmed that I was going live.

 
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JTurner77
Los Angeles, CA
 
 
Posts: 68 since Dec 2011
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indextrader7 View Post
John Hoagland called today, and he confirmed that I was going live.

Congratulations! I am looking forward to reading more about that experience should you decide to share. By the way, I think you should keep this thread open for a while longer.

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