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Kevin's TST Combine Journal

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  #261 (permalink)
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You should submit a custom combine eliminating all performance stats and focus only on profit objective an max loss.

After all, this is what really matters in the end and for those with discipline, this is the right way to go. That way you are not trading to some arbitrary stats. This would have eliminated the last couple of days worth of conversation as well. It cost $50 extra but worth it.

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  #262 (permalink)
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PandaWarrior View Post
You should submit a custom combine eliminating all performance stats and focus only on profit objective an max loss.

After all, this is what really matters in the end and for those with discipline, this is the right way to go. That way you are not trading to some arbitrary stats. This would have eliminated the last couple of days worth of conversation as well. It cost $50 extra but worth it.

That is a neat idea. Has anyone been approved to do a Combine with just those 2 parameters?

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  #263 (permalink)
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kevinkdog View Post
If I could summarize my Combine experience, and what I learned, in one word, what do you think it would be?

I think it is the key between winning and losing traders...

Jumping the gun here but I would say "consistency".

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  #264 (permalink)
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WarEagle View Post
Jumping the gun here but I would say "consistency".

That is a good answer, as I don;t think you can be consistent without the word I am thinking of...

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  #265 (permalink)
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My guess or preview of what you will say:

You learned/reminded of the fact that you need to be patient and "hold the course", meaning that once you define a way to measure yourself, you need to then actually do it. It doesn't mean blindly trade a system cash that is losing money, but it does mean you set up a test environment and certain conditions to meet before you started trading it, and then once it goes "live" (in whatever environment) then you need to follow through with that experiment.

If you start altering the experiment then the results are invalidated and more or less worthless.

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  #266 (permalink)
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Big Mike View Post
My guess or preview of what you will say:

You learned/reminded of the fact that you need to be patient and "hold the course", meaning that once you define a way to measure yourself, you need to then actually do it. It doesn't mean blindly trade a system cash that is losing money, but it does mean you set up a test environment and certain conditions to meet before you started trading it, and then once it goes "live" (in whatever environment) then you need to follow through with that experiment.

If you start altering the experiment then the results are invalidated and more or less worthless.

Mike


Right On! I will be discussing exactly what you said... here are a couple of slides that describe it...





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  #267 (permalink)
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I look forward to your follow-up combine

I also look forward to what you've come up with regarding the "challenge" I issued regarding your next futures.io (formerly BMT) webinar in July.



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  #268 (permalink)
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kevinkdog View Post
That is a neat idea. Has anyone been approved to do a Combine with just those 2 parameters?

Whenever you get a pass at something, you have to do something else harder, when you are doing a custom Combine. So I would say your profit target would go up significantly if they approve that plan. Like 50+% more.

I saw one funded trader whose profit target was less than the usual Combine and I couldn't figure out why he got that lowered. Maybe because he was trading multiple instruments....

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  #269 (permalink)
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Pedro40 View Post
Whenever you get a pass at something, you have to do something else harder, when you are doing a custom Combine. So I would say your profit target would go up significantly if they approve that plan. Like 50+% more.

I saw one funded trader whose profit target was less than the usual Combine and I couldn't figure out why he got that lowered. Maybe because he was trading multiple instruments....


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  #270 (permalink)
In the heat
 
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Pedro40 View Post
Whenever you get a pass at something, you have to do something else harder, when you are doing a custom Combine. So I would say your profit target would go up significantly if they approve that plan. Like 50+% more.

I saw one funded trader whose profit target was less than the usual Combine and I couldn't figure out why he got that lowered. Maybe because he was trading multiple instruments....

Yes the profit objective is increased. It's usually one and a half times the max draw down. So for a $2000 draw down, your profit target is $3500.

This makes sense from an R:R standpoint. Make $3500 before you lose $2000.

Another reason this is an outstanding idea is it more closely resembles the Live Trader Prep that follows a normal combine.

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Most people chose unhappiness over uncertainty, Tim Ferris
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