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Trading fast markets

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  #301 (permalink)
 bobwest 
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xelaar View Post
Oh, I should have clarìfied I meant my personal account

That occurred to me about 5 seconds after I posted...

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  #302 (permalink)
 garyboy275 
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xelaar View Post
Narrowly dodged a bullet today. I made 900 but after traded realized I did not roll over to August contract. I was wondering why volume is real low today and decided due to end of the month. It was low but still tradable. .


There is a cheat sheet I saw somewhere that lists all the contracts with rollover dates. Same thing happened to me on CL rollover last week. It's hard to remember cause every contract is peculiar that way.

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  #303 (permalink)
Pedro40
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xelaar View Post
Then I found out it rolled to August. Hoag contacted me by the end of the day. They let me go with it but took away todays profits. I think it's fair.

I wonder if had it been a 900 bucks loss, would have they taken it away? I don't think the volume affected the trade, so there was no point in taking it away. A warning would have been sufficient...

But I am not running their show...

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  #304 (permalink)
 kevinkdog   is a Vendor
 
 
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Pedro40 View Post
I wonder if had it been a 900 bucks loss, would have they taken it away? I don't think the volume affected the trade, so there was no point in taking it away. A warning would have been sufficient...

But I am not running their show...

They do say you have to trade the front month, so taking away the day's profit seems reasonable, considering they could have probably considered the LTP a "failure" because of it (they are smart that they did not take more drastic action).


"Recruits must only trade the “front” (most liquid/highest volume) contract month for ALL products. Overnight trading is permitted, although positions must be closed prior to a product’s electronic market close. If a product is traded outside of the permitted times, ALL profits will be removed."

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  #305 (permalink)
 xelaar 
prague, czech republic
 
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Pedro40 View Post
I wonder if had it been a 900 bucks loss, would have they taken it away? I don't think the volume affected the trade, so there was no point in taking it away. A warning would have been sufficient...

But I am not running their show...

Actually Hoag did let me go with it but an hour or so later he called again. Apparently decision to cut came from equity partner a.k.a. PTP..
At least I am still in the game.

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  #306 (permalink)
 xelaar 
prague, czech republic
 
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garyboy275 View Post
There is a cheat sheet I saw somewhere that lists all the contracts with rollover dates. Same thing happened to me on CL rollover last week. It's hard to remember cause every contract is peculiar that way.

Thanks!

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  #307 (permalink)
 Ddawg 
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Man am I glad they didn't bounce you for that!! You did such a great job in your combine, I hope you get your shot at the whole deal.

Ddawg

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  #308 (permalink)
 podski 
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I'm sure they wouldn't bounce you and docking the 900 is a slap on the wrist ... a friendly one at that. Let's Xelaar know that the eyes are on him !

This is what he LTP is for. Getting used to the formality of the the organization.

p

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  #309 (permalink)
 xelaar 
prague, czech republic
 
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podski View Post
I'm sure they wouldn't bounce you and docking the 900 is a slap on the wrist ... a friendly one at that. Let's Xelaar know that the eyes are on him !

This is what he LTP is for. Getting used to the formality of the the organization.

p

Actually I was surprised they reacted so fast and took it so seriously. I thought they would look upon it only after completion and was bit worried I would do LTP and then they ground me retrospectively founding out I traded wrong contract one time. So all good.

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  #310 (permalink)
Pedro40
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kevinkdog View Post
They do say you have to trade the front month,[/I]

Sure, understood. What is not understood that with their gazillion rules, how do they expect the traders to know and follow all and not to miss any by accident? Why not just write the software that way that it doesn't even allow trading outside the restrictions??? This is the 21st century or what...

Oh yes, because that would be too easy.....

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  #311 (permalink)
 kevinkdog   is a Vendor
 
 
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Pedro40 View Post
Sure, understood. What is not understood that with their gazillion rules, how do they expect the traders to know and follow all and not to miss any by accident? Why not just write the software that way that it doesn't even allow trading outside the restrictions??? This is the 21st century or what...

Oh yes, because that would be too easy.....

Yes, it would be fairly easy to implement.

So, why don't they?

They want people who can follow the rules religiously. This takes initiative (one has to find and read the rules), determination & responsibility (one has to remember to follow the rules) and discipline (one has to not break the rules, and not allow any lapses).

All good qualities for a trader.

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  #312 (permalink)
 jmsUK 
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@xelaar

I for one, and I am sure there are many, have been greatly helped and informed by you as you have continued to share feedback with us in regard to the Combine rules and nuances.
( @Pedro40 previously pointed me to the place where the rules reside, so thanks again for that).

But getting the latest ongoing updates from xelaar has been really helpful
Thanks again and good luck going forward.

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  #313 (permalink)
Pedro40
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kevinkdog View Post
They want people who can follow the rules religiously.

Even a priest can make mistakes.

The point is, when a trader is using 3-5 different instruments, it is very easy to miss a rule or two. (and T4 isn't helping in this regard) So instead of relying on human memory (even the Pope is fallible contrary to popular beliefs), there is no excuse for not programing the restrictions.

When they are going to have 150-200 Live traders trading 2-3 instrument each, are they still going to rely on manual rule following?? That is just bad business.... Or if there is some huge flash crash, they should be able to over ride everybody at once and stop trading altogether. That's how I would run my shop, but again, I am just making common sense....

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  #314 (permalink)
 josh 
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Pedro40 View Post
Even a priest can make mistakes.

The point is, when a trader is using 3-5 different instruments, it is very easy to miss a rule or two. (and T4 isn't helping in this regard) So instead of relying on human memory (even the Pope is fallible contrary to popular beliefs), there is no excuse for not programing the restrictions.

When they are going to have 150-200 Live traders trading 2-3 instrument each, are they still going to rely on manual rule following?? That is just bad business.... Or if there is some huge flash crash, they should be able to over ride everybody at once and stop trading altogether. That's how I would run my shop, but again, I am just making common sense....

In general, I agree with you here, that there could be some more automation and some improvement.

But your attitude stinks man. You constantly complain about everything. You seem to have a massive chip on your shoulder for some reason. "That's how I would run my shop, but again, I am just making common sense...." Yeah, but you don't run the shop; when you do run your own shop, it will be 100% logical and it will be just perfect I'm sure, but for now, you don't.

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  #315 (permalink)
 xelaar 
prague, czech republic
 
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While the pub talk is going on in this cantina, I am done for the day. And done with the profit target too. Still will trade 6 more days same way as I traded these 4, there is no reason to scaredly resort to 1 car piking.



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  #316 (permalink)
 kevinkdog   is a Vendor
 
 
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xelaar View Post
While the pub talk is going on in this cantina, I am done for the day. And done with the profit target too. Still will trade 6 more days same way as I traded these 4, there is no reason to scaredly resort to 1 car piking.




Congrats! You crushed it!

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  #317 (permalink)
 jmsUK 
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@xelaar
Great job: another good Friday!
Keep on keeping on

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  #318 (permalink)
 DarkPoolTrading 
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xelaar View Post
While the pub talk is going on in this cantina, I am done for the day. And done with the profit target too. Still will trade 6 more days same way as I traded these 4, there is no reason to scaredly resort to 1 car piking.

Awesome. Well done!

And I agree completely. TST is looking for good consistent traders. Not traders who happen to make a big winning day and then change their style completely just to 'game the system / stats' and pass.

Looking forward to your futures.io (formerly BMT) webinar. Nice topic.

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  #319 (permalink)
 bobwest 
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Great job again.

You are right to continue trading as you have done; they are interested in consistency, not just hitting numbers using tricks with the parameters. (I imagine they have seen the tricks before....)

It's been clear for a while that you would crush this. Good to see you doing it, and convincingly.

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  #320 (permalink)
 josh 
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Awesome job -- you are a good example of someone who knows his market well, and takes advantage it because you know how it behaves. Congrats on the good job!

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  #321 (permalink)
Pedro40
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josh View Post
In general, I agree with you here,

Well, then let's end the cantina talk on that note.

Congrats to Alex for the new baby, I mean passing the LP!!!

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  #322 (permalink)
 xelaar 
prague, czech republic
 
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Let's do some swings!


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  #323 (permalink)
 Silver Dragon 
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xelaar View Post
While the pub talk is going on in this cantina, I am done for the day. And done with the profit target too. Still will trade 6 more days same way as I traded these 4, there is no reason to scaredly resort to 1 car piking.

Excellent work! Congrats!

Robert

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  #324 (permalink)
 Daytrader999 
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And again...you knocked the ball out of the park, Alex !

Congrats to you for passing the LTP like taking a morning walk on the beach...

I'm looking forward to hear you on the Squawk Box Radio.

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  #325 (permalink)
 xelaar 
prague, czech republic
 
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guys I did not pass LTP, I just hit profit target and overshoot it by 30% but still have to trade 6 days, I only traded 4 and 10 is a minimum.

Thanks for congrats, I owe you enormously, accountability to this thread and its readers boosted my discipline and plan following enormously. Trust me I never traded so orderly before, even with large money on the line

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  #326 (permalink)
 Daytrader999 
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xelaar View Post
guys I did not pass LTP, I just hit profit target and overshoot it by 30% but still have to trade 6 days, I only traded 4 and 10 is a minimum.

I know you didn't pass the LTP yet since there are six days left, but if you stick to your discipline and trading style like you did before, you'll accomplish the profit objective of your LTP twice at the end of the remaining days.

BTW, I really like your new signature...

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  #327 (permalink)
 xelaar 
prague, czech republic
 
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Daytrader999 View Post
I know you didn't pass the LTP yet since there are six days left, but if you stick to your discipline and trading style like you did before, you'll accomplish the profit objective of your LTP twice at the end of the remaining days.

BTW, I really like your new signature...

naturlich!

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  #328 (permalink)
 xelaar 
prague, czech republic
 
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  #329 (permalink)
 garyboy275 
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Nice going so far. Can I ask you why they made you go thru LP--I went back and checked your final results. 92% winning days, you did it for 20 day combine so thats enough time in there. Was it the avg losing day 2x> avg winning day that did it ?

I d say since you pretty much have it in bag just trade smaller, in case of losing days it ll be a small loss. Since they are pretty picky with stats makes your LP look good (spectacular so far)

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  #330 (permalink)
 xelaar 
prague, czech republic
 
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The answer is I don't know. The only thing that comes to mind is this is my first combine and almost all people who get to this stage have some history behind them for TsT to analyze. Not a case for me.

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  #331 (permalink)
 xelaar 
prague, czech republic
 
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Now with the nice cushion above profit target, I believe I can afford to introduce a new setup, to make things less boring. I also expect, they want to see me trading something more than just one setup, to make sure I have more ammo if market will be not beneficial to the thesis I use a base of my entry type (something I don't think ever happens as long as people are using same technical analysis and stop loss orders). I have few setups in development, and I think I can introduce little bit more risk into LTP by trading additional setup with just couple cars. The setup is based on limit entry, so liquidity is never a concern and it can be traded with a lot of size potentially. Risk is equally small as in my main setup. Both are based on the same order flow principles. I think it can also add some interest for all parties: TST, my journal followers and myself.

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  #332 (permalink)
 justtradeit84 
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xelaar View Post
Now with the nice cushion above profit target, I believe I can afford to introduce a new setup, to make things less boring. I also expect, they want to see me trading something more than just one setup, to make sure I have more ammo if market will be not beneficial to the thesis I use a base of my entry type (something I don't think ever happens as long as people are using same technical analysis and stop loss orders). I have few setups in development, and I think I can introduce little bit more risk into LTP by trading additional setup with just couple cars. The setup is based on limit entry, so liquidity is never a concern and it can be traded with a lot of size potentially. Risk is equally small as in my main setup. Both are based on the same order flow principles. I think it can also add some interest for all parties: TST, my journal followers and myself.

Fantasic, xelaar! Looking forward to learning your new setups

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  #333 (permalink)
 Silver Dragon 
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xelaar View Post
Now with the nice cushion above profit target, I believe I can afford to introduce a new setup, to make things less boring. I also expect, they want to see me trading something more than just one setup, to make sure I have more ammo if market will be not beneficial to the thesis I use a base of my entry type (something I don't think ever happens as long as people are using same technical analysis and stop loss orders). I have few setups in development, and I think I can introduce little bit more risk into LTP by trading additional setup with just couple cars. The setup is based on limit entry, so liquidity is never a concern and it can be traded with a lot of size potentially. Risk is equally small as in my main setup. Both are based on the same order flow principles. I think it can also add some interest for all parties: TST, my journal followers and myself.

@xelaar

I tried to re-write this so it did not sound so critical but could not without losing the point I was trying to make. It is what it is and I am going with it.

You have 6 days left and are using a process which has worked up to this point; In other words you are winning!! Why would you want to introduce something new at this point? Not trying to be critical here(ok maybe just a little) but IMO you are giving a VIP pass to disaster and then putting him in the front row. If I were a coach I would be reminding you to keep doing what got you here and dont be cocky!! You can still lose!! Actually I would be screaming it. I have lost so many times and know other traders who have done the same by changing it just a little or by adding just a little more risk. This is not the time to go there.

xelaar, one final thought - you are about to accomplish something that very few people will ever be able to do. You should be proud! My humble advice to you at this point; Be proud of what you have done but stay the course and true to yourself and keep doing what you are already doing. If you win, then it was on the merit of your edge. If you lose, then it was on the merit of your edge. In either case there will be no regret or "what if's" after its all said and done.

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  #334 (permalink)
 xelaar 
prague, czech republic
 
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Silver Dragon View Post
@xelaar

I tried to re-write this so it did not sound so critical but could not without losing the point I was trying to make. It is what it is and I am going with it.

You have 6 days left and are using a process which has worked up to this point; In other words you are winning!! Why would you want to introduce something new at this point? Not trying to be critical here(ok maybe just a little) but IMO you are giving a VIP pass to disaster and then putting him in the front row. If I were a coach I would be reminding you to keep doing what got you here and dont be cocky!! You can still lose!! Actually I would be screaming it. I have lost so many times and know other traders who have done the same by changing it just a little or by adding just a little more risk. This is not the time to go there.

xelaar, one final thought - you are about to accomplish something that very few people will ever be able to do. You should be proud! My humble advice to you at this point; Be proud of what you have done but stay the course and true to yourself and keep doing what you are already doing. If you win, then it was on the merit of your edge. If you lose, then it was on the merit of your edge. In either case there will be no regret or "what if's" after its all said and done.

Robert

Hey Robert
You are right of course. My plan wasn't to start trading differently or risk my LTP though. I am contemplating an idea to build a daily cushion using my main setup and if I have time available look to place few trades during the late RTH within the rules of risk management, not risking more than 50% if I get over 1000. Basically I talk about 100 risk per trade only. So I would say there is no risk to LTP.
I belive they want to see me handling some little risk and not being a one shot pistol.

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 xelaar 
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End of day for me. Market is rising but low volume and clearly not favoring my style. I did one trade and got stopped out righ away, no orders there. Might be the beginning of month thing, after options expired nothing has built up yet. Then I had to leave for the hospital, left 3 pending orders. Two got triggered. If I would be there I would close small winners on both, likely 3-5 ticks one and 7-9 another. Instead I got 4 ticks by trail stop on one and lost 2 ticks on another. After I came back I made another trade, it did not pop at all, lost 2 tick. And last shot - it stopped for 2 ticks loss and raced away, clearly not on stops but on sheer buying pressure. End result -225 for the day. Nothing to be upset about. I stopped after 3 consecutive losses as written in my trading plan for LTP.



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 xelaar 
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 xelaar 
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Another slow day with very low volume. Few trades, but just one was on a really good level. I am starting to alternate my setup starting tomorrow, to minimize slippage on live market and get a possibility to enter on a fast snap-back pullback to the level after the initial pop.




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 xelaar 
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 garyboy275 
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I dont know if I have ever seen trading stats like those. You are really knocking it out of park (more like out of universe). They d be lucky to fund you.

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 xelaar 
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Thanks, Gary. I don't think it's anything as spectacular as you described, but I do have experience walking on thin ice, so I tend to be very careful with place trades and risk taking. I had been losing 5k real dollars in a matters of 3 second s and winning even more in under 10 seconds, so I know what can happen. The key to this sort of trading is knowing either when the even will happen (news trading) or where it will happen (stop hunt/liquidation).

I decided to keep this thread dedicated to only TST related stuff, so if you are curious about how my other trading, development and research is going, feel free to visit my general journal here at futures.io (formerly BMT).


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 xelaar 
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Today I focused on experiments, trying different types of entry, including stop limits and limits. Stop limits get filled even on a fast move, I wonder if it is the same on T4 live Few traditional small trades. One good level fade trade, capped at 9 ticks, went over 20 into profit. Something I will be increasingly concentrated on. Stop loss was 3 ticks and it never had any drawdown! Limit entry!





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 xelaar 
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Another low volume day, market is clearly waiting for NFP as it can mean that crowd will expect Fed either to cut stimulus or not to. This is all big joke but people love fairytales.

I worked on a different type of entry today. Pretty much the same but I tried to enter BEFORE the level. To ensure I won't get stopped on a reversal before the stops are triggered I was watching the market speed and Jigsaw signals and was ready to cancel the order. Ideally I would prefer to have a fading setup in place and break out setup in place and just cancel one as market closes depending on indications. I will look into that later.






PS my daughter was born today, I am happy!

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xelaar View Post
PS my daughter was born today, I am happy!

Congrats

Mike

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xelaar View Post
Another low volume day, market is clearly waiting for NFP as it can mean that crowd will expect Fed either to cut stimulus or not to. This is all big joke but people love fairytales.

I worked on a different type of entry today. Pretty much the same but I tried to enter BEFORE the level. To ensure I won't get stopped on a reversal before the stops are triggered I was watching the market speed and Jigsaw signals and was ready to cancel the order. Ideally I would prefer to have a fading setup in place and break out setup in place and just cancel one as market closes depending on indications. I will look into that later.






PS my daughter was born today, I am happy!



blah blah .. Gold .. blah blah ... Markets .. blah blah ... LTP ..

WHERE IS THE PICTURE OF THE LITTLE ONE ???????????


Congrats to you and especially Mrs Xe !!!!

podski

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 jmsUK 
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PS my daughter was born today, I am happy!

Happy days. Great news and hope both are doing fine.
Another good Friday. Nice job

Best
JS

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PS my daughter was born today, I am happy!

Congratulations and all the best for her and the whole family.

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PS my daughter was born today, I am happy!

Congratulations!

Way more important than trading!

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 xelaar 
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Thanks for your wishes, guys. I was very worried so kept working to stay away from nervousness.

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 garyboy275 
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Congrats!! And you still traded !! Way to go.

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 Daytrader999 
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Congratulations Alex, and all the best for you and your whole family !

Indeed, way more important than any trading or such !

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 tihfa 
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PS my daughter was born today, I am happy!

Congratulation to you and your family!

This is quite amazing that you still ended up trading and doing quite well.

What a dedication. WOW





Tihfa

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xelaar View Post


PS my daughter was born today, I am happy!


Cograts Alex!!! That is awesome to hear! Nothing better than having a child in your life.


Robert

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 omni72 
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xelaar View Post
PS my daughter was born today, I am happy!

That's awesome, @xelaar, congratulations on the new arrival!

Luck is what happens when preparation meets opportunity. ~ Seneca
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 Lejcus 
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PS my daughter was born today, I am happy!

Congratulation to you and your family.

“Life begins at the end of your comfort zone.”

― Neale Donald Walsch
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 hadamkov 
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Congratulations!
And wish your family a good portion of patience and love.
Those are the most needed at such time.
Sara Saudkova once said:
"Children are the most flexible and almost unbreakable creatures in the world. The only one thing that they need is love."

Have a good one.
Hana

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 xelaar 
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Thanks again for all good wishes and congrats! Appreciate it.

Today was a minor day by results but what a volatility we have seen from NFP! I worked on alternative entries. I feel difficult to do them in LTP, so looking forward to end it on Monday with whatever result and continue working on setups and gathering stats.


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 vijidas 
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Thanks again for all good wishes and congrats! Appreciate it.

Today was a minor day by results but what a volatility we have seen from NFP! I worked on alternative entries. I feel difficult to do them in LTP, so looking forward to end it on Monday with whatever result and continue working on setups and gathering stats.


Great trading xelaar. are you planning to continue to post journals when you go-live as TST trader? It has been great learning experience reading your journal. its absolutely brilliant and thanks for the journal.

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 xelaar 
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Thanks, Vijidas

I think TST and its equity partner do not permit posting any information about live trades. However I plan to keep posting about my own trading, system development, and potentially live trading room.

I am very curious what will happen next week, I think it will take a couple of days for TST to come back after LTP is completed tomorrow.

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 jlwade123   is a Vendor
 
 
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Congratulations - a huge accomplishment.


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Well this day arrived. I have done the profit target, and maintained two out of three required metrics. I have explained earlier why my losing holding time is larger, I screwed it up a couple of time with experiments and leaving trade alone.

Today is a slow day with some markets closed but Gold had a nice volume for this early hours and produced somewhat a reversal with possible long setups. I planned 10 ticks of the first one but it moved only 5 so I closed it at +4. A second setup for, I put only 7 ticks to be more realistic as this did not look as good as first one, but quite passable still, it moved 30 ticks, one of those wonder trades I had in the beginning when operating just 1 contract. Now with 15 it would be go figure.






I am very happy about putting this to the end, at least for the moment. I have a high emotional drain (even if I kept it away from my trading it did express in my other endeavors) and just physically tired sitting so much hours at screen each and every day for over the month, as I had waiting and fishing for those opportunities that became rare as time went. During the first week or two I was done in a couple of hours, and went for a bike ride, gym or something else. Now I had to forego gym, bycicle, running, etc in name of finishing it in time. I need back some of my life, finally.

It will be a shame if TST/PTP will turn their noses on my results, or ask me to do a lengthy LivePrep (short one is ok, I can just repeat what I did, I can't see any benefits it will deliver though after I did the same for 25 days). Worse still if they will put some restraints like minimum holding time for a winner. It will mean going back to the drawing board, testing, etc.

I had been testing other approaches during this ride, today I have a trade on Ninja Sim netting 31 ticks with 8 tick risk. But I wanted to keep Combine as clean as possible with just one system and two (and later restricted to just one) entry setup.

Very happy to finish so early today as I need to visit my wife in hospital and I was worried how trading Combine will go next days because the hospital permits visits that time pit opens and combining these two would be difficult. Giving that we expect our daughter to be born sometimes between 2 weeks and 4 weeks, or possibly earlier now, I did wanted to finish with Combine before this all will take my time, my mind and I could not concentrate until it is all over.

Thanks for all your support, it was an invaluable help and an accountability as I could not hide my trades and explain why I did step out of my plan. Thanks for being tough judges too :)

I will keep this thread updated on how TST process goes and how it all will end, or maybe begins. :crazy_pilot:


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 xelaar 
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Today was a very low volume day with lack of any sentiment and movement. Some swings but I was absent during this time, also CTS T4 was giving us all a middle finger with lack of historic data this morning and constant price feed freeze outs during the morning and few times later in the day. Clearly no stops were present in large quantities but few trades went through. I did one live trade, successfully even if marginally.

Otherwise I was experimenting with different entries. Few losers that came from freezing feed and strange stop out on a trade at the place where no price ticked, but since my profit target is done long time ago there is no need to try to adjust anything.

A minor losing day overall. Now we will see what happens next.



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 garyboy275 
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So, this is where you end and they send the 3 Magi with beer and gifts for the new baby to recruit you to trade for them ? You have been an awesome inspiration for all those who read your journal. Thanks for sharing your journal.

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 xelaar 
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 xelaar 
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I've received this quote today:


Quoting 
“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the man of inferior emotional balance, nor for the get-rich-quick adventurer. They will die poor.”

- Jesse Livermore

The irony is Jessy did die poor indeed.

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Pedro40
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The irony is Jessy did die poor indeed.

Well, he didn't. He left 6 million dollars (and that is 1940s dollars) to his family safely tied down in funds, so creditors couldn't get to it. Also, (what most people misses) he killed himself after a quite long (63 years) and successful and very interesting life, not as a young gambler who has just lost his money. Big difference... Not to mention he was most likely bipolar...

Just for historical accuracy...

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 xelaar 
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Well, he didn't. He left 6 million dollars (and that is 1940s dollars) to his family safely tied down in funds, so creditors couldn't get to it. Also, (what most people misses) he killed himself after a quite long (63 years) and successful and very interesting life, not as a young gambler who has just lost his money. Big difference... Not to mention he was most likely bipolar...

Just for historical accuracy...

Well he did, but his wifes were smart enough to lock out some of his money where he couldn't get it. Like in jewelry. He were worth a billion dollars so what was left was just peanuts. And he was there few times, and losing it every time. He was a great trader but he was a great gambler too.

In memory of Jesse Livermore


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 podski 
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When is the funded trader interview ? Will you be giving a shout out to futures.io (formerly BMT) ??


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 podski 
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Xelaar,


Two questions ..

Training:
When you were training in the month before the combine .. how did you actually trade.

When you are training for sports there are specific exercises and things you have to do / you can do to make the actual performance easier. How is practice different (or maybe the same) than performance for you ?

Boredom:
You mentioned that you had never been quite as disciplined before in your trading. What do you do to avoid boredom and either making mistakes or taking trades that are not 100% ?


p

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 xelaar 
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podski View Post
Xelaar,


Two questions ..

Training:
When you were training in the month before the combine .. how did you actually trade.

When you are training for sports there are specific exercises and things you have to do / you can do to make the actual performance easier. How is practice different (or maybe the same) than performance for you ?

Boredom:
You mentioned that you had never been quite as disciplined before in your trading. What do you do to avoid boredom and either making mistakes or taking trades that are not 100% ?


p

Podski, you are, my friend, as always come with the toughest questions here

Before the combine, I was actually checking out different ideas I used over time in Forex trading to apply to Futures market, and selecting best combination of idea/instrument. So I traded good and bad. What I did then is to select good from bad. All is revealed in my original thread about flying turd.

To be honest about sports, I am a lazy bad to train properly. It explains why I suck lately at racing. I did well like 2 years ago when I went to gym regularly and run like 6-8 miles non-stop training for endurance and was running outside like for 10 miles. I have to say though I started to do that again, but got swamped with reserach and test stuff when started Combine, especially in later stages. But I am back again into training, running outside and bicycling. Working out clears your mind even better than the body. During the Combine once I did few good trades or bad trades I would go outside for a run for 1-2 hours and come back fresh and set a fresh view on the market. It helps ENORMOUSLY.

So when training for a sport it helps to get a focus. If you try to do many things at once its hard to keep focus on all, and eventually you will lose it at all. So if I come to gym I will do my running a main focus and anything else is just auxilary. You need to find one thing and focus hard on it. And practice. Practice makes perfect.

About discipline and boredom. Again, focus on something. Don't try too do many things at once. That's why I believe it's best to get one market at a time and focus on trading it with one specific methodology. Not necessarily just one setup, but one approach. Then it is easy to track performance and know how you are doing.

Boredom.. get some hobby. Work out. Don't make trading be your hobby or it will pay you like a hobby. Trading is a business for me, not a hobby. A way finance my hobbies. I advocate for anyone to approach same way. Otherwise you will slide it into the gambler mode.

I was all mess like many when trying to trade many different styles at once for a while after I started. When I found out news trading the best was not even the method itself, but the strict boundaries it imposed: you can only trade certain event, so there is no issue of overtrading, there is only one or two ways to trade it so there is no struggle of different systems. And since you trade uniformly, you accumulate invaluable stats that makes you believe in what you do and risk money with easy knowing you will make it back even if you lose today.

I had losses like 5-6k usd in a second when trading news, but while I was upset I wasn't broken or anything. As I had a strong belief in what I did. And it was based on firm history of my trading and strict rules that made sure stats were trustable. So when I made a loss it changed nothing. And I had maybe one a couple of losing months during this almost two years exercise. Some winning months were huge. It's a great approach - take every day as given, take a loss or a small win without thinking too much this day. Big days will pay for it. But review your logs and stats regularly (not while trading, so better on weekend or at the end of month) to see if you need slight adjustment. You want to rinse in repeat in this business. If you want to show your creativity become an artist or designer.

Today my family is at home finally. And my daughter, Agatha, is at home first time in her yet short 5 days long life
To add honey to my happiness I just got a call from Hoag congratulating me and welcoming to the funded traders team!

Trade to live. Not live to trade.
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  #369 (permalink)
 Daytrader999 
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xelaar View Post
Today my family is at home finally. And my daughter, Agatha, is at home first time in her yet short 5 days long life
To add honey to my happiness I just got a call from Hoag congratulating me and welcoming to the funded traders team!

Congrats again Alex !

That's really awesome, having your family back at home and getting a funded account from TST on the same day...you must be the luckiest man in the world now !

All the best !

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  #370 (permalink)
 xelaar 
prague, czech republic
 
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Daytrader999 View Post
Congrats again Alex !

That's really awesome, having your family back at home and getting a funded account from TST on the same day...you must be the luckiest man in the world now !

All the best !

That's how I feel certainly. I want to record this feeling on some "flash drive" and replay again and again

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  #371 (permalink)
 TrendTraderBH 
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Excellent post and very helpful!!




xelaar View Post
Podski, you are, my friend, as always come with the toughest questions here

Before the combine, I was actually checking out different ideas I used over time in Forex trading to apply to Futures market, and selecting best combination of idea/instrument. So I traded good and bad. What I did then is to select good from bad. All is revealed in my original thread about flying turd.

To be honest about sports, I am a lazy bad to train properly. It explains why I suck lately at racing. I did well like 2 years ago when I went to gym regularly and run like 6-8 miles non-stop training for endurance and was running outside like for 10 miles. I have to say though I started to do that again, but got swamped with reserach and test stuff when started Combine, especially in later stages. But I am back again into training, running outside and bicycling. Working out clears your mind even better than the body. During the Combine once I did few good trades or bad trades I would go outside for a run for 1-2 hours and come back fresh and set a fresh view on the market. It helps ENORMOUSLY.

So when training for a sport it helps to get a focus. If you try to do many things at once its hard to keep focus on all, and eventually you will lose it at all. So if I come to gym I will do my running a main focus and anything else is just auxilary. You need to find one thing and focus hard on it. And practice. Practice makes perfect.

About discipline and boredom. Again, focus on something. Don't try too do many things at once. That's why I believe it's best to get one market at a time and focus on trading it with one specific methodology. Not necessarily just one setup, but one approach. Then it is easy to track performance and know how you are doing.

Boredom.. get some hobby. Work out. Don't make trading be your hobby or it will pay you like a hobby. Trading is a business for me, not a hobby. A way finance my hobbies. I advocate for anyone to approach same way. Otherwise you will slide it into the gambler mode.

I was all mess like many when trying to trade many different styles at once for a while after I started. When I found out news trading the best was not even the method itself, but the strict boundaries it imposed: you can only trade certain event, so there is no issue of overtrading, there is only one or two ways to trade it so there is no struggle of different systems. And since you trade uniformly, you accumulate invaluable stats that makes you believe in what you do and risk money with easy knowing you will make it back even if you lose today.

I had losses like 5-6k usd in a second when trading news, but while I was upset I wasn't broken or anything. As I had a strong belief in what I did. And it was based on firm history of my trading and strict rules that made sure stats were trustable. So when I made a loss it changed nothing. And I had maybe one a couple of losing months during this almost two years exercise. Some winning months were huge. It's a great approach - take every day as given, take a loss or a small win without thinking too much this day. Big days will pay for it. But review your logs and stats regularly (not while trading, so better on weekend or at the end of month) to see if you need slight adjustment. You want to rinse in repeat in this business. If you want to show your creativity become an artist or designer.

Today my family is at home finally. And my daughter, Agatha, is at home first time in her yet short 5 days long life
To add honey to my happiness I just got a call from Hoag congratulating me and welcoming to the funded traders team!


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  #372 (permalink)
 podski 
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xelaar View Post

Today my family is at home finally. And my daughter, Agatha, is at home first time in her yet short 5 days long life
To add honey to my happiness I just got a call from Hoag congratulating me and welcoming to the funded traders team!



p

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  #373 (permalink)
 garyboy275 
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xelaar View Post
I've received this quote today:



The irony is Jessy did die poor indeed.

The biggest reason for his demise from what I have read is he didnt use position sizing nor had any risk control in place ( it's pretty obvious now but when we are in similar situation we do similar things). Even the smartest trader should have some risk control in place such as DLL, drawdown etc.

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  #374 (permalink)
 bobwest 
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xelaar View Post

Today my family is at home finally. And my daughter, Agatha, is at home first time in her yet short 5 days long life
To add honey to my happiness I just got a call from Hoag congratulating me and welcoming to the funded traders team!

Nice work!

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 DarkPoolTrading 
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xelaar View Post
To add honey to my happiness I just got a call from Hoag congratulating me and welcoming to the funded traders team!

Awesome news. Well done. I think it was probably clear to most followers of your journal that it was only a matter of time before you got funded. You show great discipline, patience and maturity/confidence in the way you approach the market. All critical aspects to making it in this business.

Do you know when your funded trader interview is yet? Do you use the same username on TST as you do here so we know who to listen out for?

Diversification is the only free lunch
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 Disciple 
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Awesome news - look forward to the interview.

You must be very very happy.

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  #377 (permalink)
 xelaar 
prague, czech republic
 
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Thanks, guys, appreciate it. I have filled my trading plan proposal and submitted it for scout team review. I believe I will hear from them soon. In a meanwhile some legal stuff must be done. They recon all will take 2-3 weeks. It's fair. I think the interview will be at the point when all formalities are completed, live account and setup and all is ready for going live. My nick name at TST is "raa" so feel free to check it out.

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 ABCTG   is a Vendor
 
 
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Congrats and best of luck going forward.

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  #379 (permalink)
 aquarian1 
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Well done Alex (aka raa)!

Congrats on both the new baby girl and getting funded.
TST is lucky to have you trading for them!

All the best.

..........
peace, love and joy to you
.........
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  #380 (permalink)
 Big Mike 
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Congratulations @xelaar



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  #381 (permalink)
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
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Nicely done Alex!

They are lucky to have you on board.

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congratulations!

looking forward to be working on the same team, one day ...

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  #383 (permalink)
 josh 
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Big congrats are in order! Go get 'em tiger.

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  #384 (permalink)
 David_R 
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Nice job! Well done in deed.

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  #385 (permalink)
 Silver Dragon 
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Congrats my friend!! Look forward to seeing you in the green jacket in the chat box!!

Robert

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  #386 (permalink)
 pinebilly 
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Congrats first off, very well done and super congrats on the new addition to your family!

I think this is your profile on Topstep - https://www.topsteptrader.com:443/ViewProfile/raa/0/p/0


It matches up against your screenshot here -


If it is indeed you (must be right?) I find it a bit lame that TopStep is posting achievements based off a sim account. Not trying to steal YOUR thunder at all but its a pretty good marketing gimmick for them because if this IS the case and you are looking at people's profiles you dont know if they are sim or live.

Thoughts?

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 David_R 
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pinebilly View Post
Congrats first off, very well done and super congrats on the new addition to your family!

I think this is your profile on Topstep - https://www.topsteptrader.com:443/ViewProfile/raa/0/p/0


It matches up against your screenshot here -


If it is indeed you (must be right?) I find it a bit lame that TopStep is posting achievements based off a sim account. Not trying to steal YOUR thunder at all but its a pretty good marketing gimmick for them because if this IS the case and you are looking at people's profiles you dont know if they are sim or live.

Thoughts?



I don't think posting results is a gimmick. The criteria to achieve success is not easy just because it is sim. There is a lot at stake when in a combine. Even though the money is fake it's important to take is seriously like the money is real. Can't be laxadasical about it and expect to meet the requirements. I've tried myself.

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  #388 (permalink)
 xelaar 
prague, czech republic
 
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pinebilly View Post
Congrats first off, very well done and super congrats on the new addition to your family!

I think this is your profile on Topstep - https://www.topsteptrader.com:443/ViewProfile/raa/0/p/0


It matches up against your screenshot here -


If it is indeed you (must be right?) I find it a bit lame that TopStep is posting achievements based off a sim account. Not trying to steal YOUR thunder at all but its a pretty good marketing gimmick for them because if this IS the case and you are looking at people's profiles you dont know if they are sim or live.

Thoughts?

I wonder why 90% fail this gimmick if it's so easy.
live profiles can be found in live traders section but they don't post live traders results. all badges you can see in profile are from combines only. For some reason many people try to find out how much TST is making and dissect their business model instead of improving their trading and passing combine.

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  #389 (permalink)
 bojangle 
NYC, NY
 
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Hi there,

Congrats on the little girl and your trading progress!!!

I only trade the ES and I know that if i were trading 15 contracts with a max daily and weekly drawdown of $3000 and a total of $4500 max drawdown from the starting balance... i might as well be flipping coins and throw my method in the garbage. I think we'd be hard-pressed to find traders with 20 years of profitability able to do that CONSISTENTLY. Even if you don't trade the ES, is it realisitc you can trade with these restrictions in the long-run? If so, all the power to you, but i know without a doubt that i could not.

Top step trader is a cool idea, though they clearly aren't traders if they are choking you off at their stated figures found here: Live Trading | Trading Program | Funded Trader | TopstepTrader. They make their money from the combine. I wouldn't trust these people with a cent. Ask a prop firm owner whose firm has proven profitability - I bet anything they'll tell you their traders could never survive with TTS's restrictions. Trading is a career, not 20 or 30 trades. The long-run is what matters. TTS is all about the short-term. I personally do not believe anyone at the head of TTS has much trading experience... and if they do, they know that with these restrictions and the cost of a combine, it's a gold-mine of a business plan.

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  #390 (permalink)
 pinebilly 
Chicago
 
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Xelaar/David,

Thanks for the responses. I was definitely not trying to be negative in anyway, I apologize if it came across that way. I was under the impression that those figures (in all those people's profiles) were from LIVE trading. Now I realize its all from sim. Still impressive yes but not as much so, that's all I was saying. Its a GREAT and NECESSARY first step but often times when real money is on the line those sim results change a bit (I am not stating anything that everyone isn't already aware of). I personally could care less about what TST is making off its traders, in fact I think its a great opportunity for people wanting to trade. It's new in the industry and I think it's a step in the right direction. It does help people learn to trade, do they make money off people taking their combines, sure they do , SO WHAT? It's a business and I think it's rather smart of them personally. They make money , IF a person can trade then that person can make money and not risk a dime of theirs, its a win/win. Fact is (here I go again stating the obvious) most traders will fail and do fail. They will go try to pass the combine and they won't. Who's fault is that? No one except the person taking the combine. Spend more time learning if you really want to succeed. Rome wasn't built in a day and trading takes years of hard work (YEARS!) IF you are going to make it.

Anyway, I wish everyone the best. Congrats once again Xelaar, very cool of you to post so open about all of this (the process, your methods etc) and on top of it all you got funded. Well done. You are a bad ass

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  #391 (permalink)
 garyboy275 
wa/ usa
 
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pinebilly View Post


If it is indeed you (must be right?) I find it a bit lame that TopStep is posting achievements based off a sim account. Not trying to steal YOUR thunder at all but its a pretty good marketing gimmick for them because if this IS the case and you are looking at people's profiles you dont know if they are sim or live.

Thoughts?

/Rant on

I find it very strange that in 3 years you have contributed 14 posts and out of that 2-3 are right here. Do you seriously want an answer ?

Nothing against you personally but in general I just wonder why some people dont post at all. futures.io (formerly BMT) is a community that's made "wiser" by each individual doesn't matter how small the contribution.

Anyways, trading the combine and practice account ( I want to separate the two SIM accounts) is totally different. You can check my journal. In practice account I did 9k and 12k back to back days yet I have a hard time making any money in my combine account. And in the practice account I did everything as I normally do, only thing is its got a bigger drawdown limit but I did not hold-them-till-they-turn-winners. I did take losses too. I can't give you a perfect answer cause I am trying to answer that myself why is it like that ? Is it cause there is no consequence ? The cost of combine is hardly a consequence for me personally. The $200-400 cost is not a big deal for me. Is it the mental liability ? I don't know. If I could answer that, I d complete the combine in 1 day.

As far as TST being a gimmick, you'll never know unless you are on the inside. If you think you have it who else is willing to give you a chance at big league for $200. Cellphones cost more than that. And for some people this could be life changing. And besides its someone else's money, if they want to be a fool with it let em be. I don't know why people have to criticize someone's business model. If they were shady, not funding good traders, taking money and running away etc I could understand. So far I have seen 10's of journals and have to find one person who performed well and didnt get funded. If Xelaar didnt get funded it would have raised big red flags for me but he did. For all I know, TST is in it to make money as much as you and I are. You only see how much they charge for combines but they provide the initial drawdown (1500-4500) for all their traders. Even if 20% (more likely40-50%) hit the drawdown imagine how many combines it takes to fill one trader's drawdown requirement. Their payout isnt bad either if you are getting 70-80% if you really are a performer. Most prop firms I know dont pay that.

I am not paid by TST or have any affliation with them but it really irks me when you come expecting something for free. There are plenty of people who wont fork up $50 for futures.io (formerly BMT) membership either but lose 1000's in trading. One thing TST is that they are -Not for Charity.

/Rantoff

Sorry, Xelaar if this sidetracked your journal.

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  #392 (permalink)
 Ddawg 
Phoenix Arizona
 
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I agree with garyboy on this. If you dont like their business model, just ignore them. I have to say that I downloaded the T4 demo, and tried out a $150k sim account. Over the 2 week period I made approx $8800, but I had massive drawdown one day of 5K. I think this would have blown me out of the combine. Definitely not as easy as you might think.

One thing this has taught me is that I dont have a good understanding/appreciation of risk. I am not sure that psychologically I could have come back from a loss of 5K, even with a 150K account.

Good trading,
Ddawg

PS BIG props to Xelaar for hitting this thing out of the park!!!! And also your baby girl! woohooo

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  #393 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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bojangle View Post
Hi there,

Congrats on the little girl and your trading progress!!!

I only trade the ES and I know that if i were trading 15 contracts with a max daily and weekly drawdown of $3000 and a total of $4500 max drawdown from the starting balance... i might as well be flipping coins and throw my method in the garbage. I think we'd be hard-pressed to find traders with 20 years of profitability able to do that CONSISTENTLY. Even if you don't trade the ES, is it realisitc you can trade with these restrictions in the long-run? If so, all the power to you, but i know without a doubt that i could not.

Top step trader is a cool idea, though they clearly aren't traders if they are choking you off at their stated figures found here: Live Trading | Trading Program | Funded Trader | TopstepTrader. They make their money from the combine. I wouldn't trust these people with a cent. Ask a prop firm owner whose firm has proven profitability - I bet anything they'll tell you their traders could never survive with TTS's restrictions. Trading is a career, not 20 or 30 trades. The long-run is what matters. TTS is all about the short-term. I personally do not believe anyone at the head of TTS has much trading experience... and if they do, they know that with these restrictions and the cost of a combine, it's a gold-mine of a business plan.

thanks for the congrats. I think it no secret that combine fees are a valuable revenue stream for TST and there is nothing shameful.
secrainly my 400 usd do not count as part of it as they refunded it yesterday with no fuss. in regards to harshness of conditions I strongly disagree. I was trading my own live money within similar conditions with very tightrisk controls. in regards to position sizing people for some reason think you have to be swinging whole max size like a madman. some certainly do that but blow quickly. its part of the excersize to be able to restrict yourself to smaller position until you have a cushion. in any case during live prep and junior trader they wont allow to trade max size until daily cushion is built. I can only trade 5 lots until up 1000 on the day.

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 xelaar 
prague, czech republic
 
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I had a long 45 minutes call with Hoag yesterday. A real job interview I have to say, recorded. All is good, trading plan is approved. Like they said it takes 2-3 weeks for CTS to set up an account and for legal agreement, w8ben, etc.

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 xelaar 
prague, czech republic
 
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garyboy275 View Post
Anyways, trading the combine and practice account ( I want to separate the two SIM accounts) is totally different. You can check my journal. In practice account I did 9k and 12k back to back days yet I have a hard time making any money in my combine account. And in the practice account I did everything as I normally do, only thing is its got a bigger drawdown limit but I did not hold-them-till-they-turn-winners. I did take losses too. I can't give you a perfect answer cause I am trying to answer that myself why is it like that ? Is it cause there is no consequence ? The cost of combine is hardly a consequence for me personally. The $200-400 cost is not a big deal for me. Is it the mental liability ? I don't know. If I could answer that, I d complete the combine in 1 day.

I have been thinking about it myself too, what I came up with is that is a fear of failure. On pure demo you can get a rough patch, but it's not the end of story, you can come back. You did not fail until all equity is gone. But on Combine it's enough to hit DLL or Max DD to be fried. It's a fear of shame, fear of being considered failure that hugely affects our minds.

Hoag asked me yesterday, how I plan to combat the mental issues when switching from demo to live account. I had only one answer - start it very slow, one lot, and add to my personal max position only when booked some profit. He said hmmm approvingly, so I think this is they way to go they consider right as well.

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 garyboy275 
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xelaar View Post
I have been thinking about it myself too, what I came up with is that is a fear of failure. On pure demo you can get a rough patch, but it's not the end of story, you can come back. You did not fail until all equity is gone. But on Combine it's enough to hit DLL or Max DD to be fried. It's a fear of shame, fear of being considered failure that hugely affects our minds.

Hoag asked me yesterday, how I plan to combat the mental issues when switching from demo to live account. I had only one answer - start it very slow, one lot, and add to my personal max position only when booked some profit. He said hmmm approvingly, so I think this is they way to go they consider right as well.


Thats how I approached my combine but it can be frustrating. With your personal account you always have secondary income to counter the time factor. Not so in combine. Even though in live trading you can take your time to build the cushion.

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 xelaar 
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Thats how I approached my combine but it can be frustrating. With your personal account you always have secondary income to counter the time factor. Not so in combine. Even though in live trading you can take your time to build the cushion.

True, time factor makes things interesting, but even then 20 days combine allows over 40 trading days, so for 150k combine it means 400 usd average days, which is not that difficult.

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 pilotui 
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Hi, I've been lurking for a while and wanted to say congrats!

I have a trading system that gives me the confidence to know I can pass the combine but I am very interested in the process. Can you break it down for me?

1. Pass the combine (20-40 days)
2. Live trader prep (what is the time duration and or profit goal to move on?)
3. Time between passing LTP and getting the interview?
4. What kind of questions were asked in the interview?
5. 2-4 weeks of waiting for CTS and legal stuff

Finally, I feel like having a custom combine would benefit me (mostly the holding winners longer than losers) what has been your experience in that area? A profit only custom combine would require @ $18K profit? Does that sound right (on a 150K 10 day combine)?

Thanks!

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 xelaar 
prague, czech republic
 
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pilotui View Post
Hi, I've been lurking for a while and wanted to say congrats!

I have a trading system that gives me the confidence to know I can pass the combine but I am very interested in the process. Can you break it down for me?

1. Pass the combine (20-40 days)
2. Live trader prep (what is the time duration and or profit goal to move on?)
3. Time between passing LTP and getting the interview?
4. What kind of questions were asked in the interview?
5. 2-4 weeks of waiting for CTS and legal stuff

Finally, I feel like having a custom combine would benefit me (mostly the holding winners longer than losers) what has been your experience in that area? A profit only custom combine would require @ $18K profit? Does that sound right (on a 150K 10 day combine)?

Thanks!

hi, thanks for the congrats, appreciate it!

1. You can pass in 10-20 days accordingly if your profit target and metrics are done, but maximum it can take is up to 20 to 40 days (for 10 and 20 days combine)
2. LP can take as long as 2 months but the minimum number of days is 10, profit goal for me was 4500 usd, I have heard others were getting a modest profit goal too. I had mine completed after 3rd day but still traded the rest like I did not, not changing to piking, I guess this is what they want to see there in LTP
3. For me the interview with Hoag (not the public interview conducted in chat room) happened 2 days after I emailed them I am ready for the LTP review, after 10 days were completed
4. Pretty much what you expect at job interview: tell about yourself as person, trader, your circumstances, your expectations, legal questions about not being in debt to any future commission merchant (broker) etc.
5. I already have a practice account and a login to live traders room, so considered live trader already, however actual account can arrive in 2-3 weeks as they said, I believe the public interview will be conducted when all is set

I can't answer your question about custom combine - I did a regular 150/20 combine and my holding time metric wasn't good, but you only need to be right on 2 metrics out of 3, my win size was ok and win percentage was ok too. No reason to go custom because just one metric will fail.

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xelaar View Post
hi, thanks for the congrats, appreciate it!

1. You can pass in 10-20 days accordingly if your profit target and metrics are done, but maximum it can take is up to 20 to 40 days (for 10 and 20 days combine)
2. LP can take as long as 2 months but the minimum number of days is 10, profit goal for me was 4500 usd, I have heard others were getting a modest profit goal too. I had mine completed after 3rd day but still traded the rest like I did not, not changing to piking, I guess this is what they want to see there in LTP
3. For me the interview with Hoag (not the public interview conducted in chat room) happened 2 days after I emailed them I am ready for the LTP review, after 10 days were completed
4. Pretty much what you expect at job interview: tell about yourself as person, trader, your circumstances, your expectations, legal questions about not being in debt to any future commission merchant (broker) etc.
5. I already have a practice account and a login to live traders room, so considered live trader already, however actual account can arrive in 2-3 weeks as they said, I believe the public interview will be conducted when all is set

I can't answer your question about custom combine - I did a regular 150/20 combine and my holding time metric wasn't good, but you only need to be right on 2 metrics out of 3, my win size was ok and win percentage was ok too. No reason to go custom because just one metric will fail.

Excellent info, thanks for taking the time to answer!

Appreciate it!

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