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Mergodon TopSteptrader Live Account Journaling

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  #1 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
Thanks: 633 given, 1,532 received

Long time to see you Mr. Anderson, right? After a lots of learning curve, and going up and down, mostly break even, I have realized I still need lots of learning, to sharp my trading skills. I had 3 mental breakdown, for 1-2 days, when I was feeling that, I would never able to learn how to be a profitable trader, but these days past quickly, and I was more and more happy, to reopen charts, redo analysis on the market, and sitting in front of the computer, and trade again and again.
Anyhow, based on my analysis, and reading a lots of trade psychology books, I have been realized, my biggest enemy is myself, so I have to handle this issue somehow. When I am on the winning streak, I am doing a decent winning, but if I am on the loosing streak, than I am not able to stop myself, and trying to fight back to the market. So what I am winning in 4 days, I can loose it in 1 day very easly, without any good reason to loose.

After this I believe topstepstrader combine opportunity is tailored just for me. It will help me to stay disciplined, and also give me opportunity to proove my strength. If I am not able to do this challange, than I need to learn more and more. So I will do the prospect challange (really size doesnt matter, it is only a question of risk management, so no need to go higher as a starter). It will start on monday. The good thing is that, I can use NT, the bad side, I am not able to trade my favorite instrument, but at least I will have some challange.

The plan is simple. Stay focused, shoot when it is necessery, and wait, when I dont have the edge. I will trade YM as an alternative for TF, and I will look for CL, and GC trades, but only if they are coming for me. The basic principle, to doing daytrades, mostly with 1:3 R/R, with 8SL to 25-35TP based on the market conditions.
I canse of YM I am planing to use 2-3 contracts, in case of CL or GC only 1.

My best guess is that, I will make this challange, but which makes me nurveus, I havent find any journal in futures.io (formerly BMT) where somebody made it, and got the founded trader status. Ofc trading is like yoga, you are doing it yourself, but statistically speaking I wil fail this Anyhow time will tell

Máté
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  #3 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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Everything working smoothly, as they promised by Topsteptraders. I've received the login information yesterday for T4. The same logins are working Ninjatrader as well. All what you have to do is follow a nice guildline to configure your ninja settings and make her ready to connect to TopStep - NinjaTrader Connection Instructions ? Help & Feedback Center . The whole process was 3 mins (ofc you need multibroker license to NT). So I've been tested the historical data download, checked the account ballance (which is 30K right now on ninja as well), so I so no issue. The whole process at Topstep seems to me very-very professional. Here is a quick screenshot, see you in the afternoon at the market open.

Máté
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  #4 (permalink)
 GFIs1 
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matevisky View Post
I havent find any journal in futures.io (formerly BMT) where somebody made it, and got the founded trader status.

Hi matevisky

Congrats and good luck to your 10day combine.
Of course there are a lot of journals on combines and even a thread of passed traders:

Just search for TST or Combine and browse through actual and older journals.

GFIs1

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  #5 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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GFIs1 View Post
Hi matevisky

Congrats and good luck to your 10day combine.
Of course there are a lot of journals on combines and even a thread of passed traders:

Just search for TST or Combine and browse through actual and older journals.

GFIs1

Thank you, ofc I hope luck will not be a pro/cons factor during my trades. I've already checked out a lots of journals believe me, when I say it is hardly to find a journal when a novice trader passed this test like me, but I believe it is a very good thing to have this opportunity, because it could give you a clear picture where are you for real. As I said time will tell, and it would be nice to see myself after a lots of learning to prove my self on a real battlefield...

Thx again to check in!

Máté
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  #6 (permalink)
 Janos 
Budapest Hungary
 
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Hi Mate !

Good to see you back again and I wish you the best to make this combine !

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  #7 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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Janos View Post
Hi Mate !

Good to see you back again and I wish you the best to make this combine !

Szia János, köszi! (Hi János , thx! easy hungarian translation )
Speaking frankly I was not disappiered, I was trading the only thing was that I was realizing my biggest enemy during my trades is myself. I believe everyone has his own demons, and my biggest one is sitting on the same chair, so after a lots of going up going down, and reading books around trade pscihology, I've realized I need help or different approach. As I stated doing the trades, and learning is make me happy, so I believed that if I will able to find my on way to be constantly profitable
I will try to keep you update everyone this time

Máté
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  #8 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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I've seen I am not the only one who is doing lumosity:

Here are my results:



It gave me some confident to complie the combine

Máté
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  #9 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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I made my first day with a win.
1. I thought the market would go higher, I was not realizing we are hitting the stars, so I was not got out, and change my view on the market to short it. Anyhow I got some damage, but nothing serius
2. Starting to belive the market will go down, but eventually it was a little bit early, because the market was w8ing the news to hit. So I got out before the news. It is a 2 folded game, and I am not a gambler, or newstrader, to do scalping on news
3. Bit risky trade, but it was a nice DB area, for a pullback till the blue area. I made my scalp on it, unforcuneatly, it would have been better to take profit earlier
4. Made my trend trade, and I was sitting back with a winner
---
Overall good day, a winner one. Trending is not my strength, but not my weakness anymore

Máté
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  #10 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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Yesterday during I was doing my daily analysis on the market, I've been realized, I made some unnecessery error yesterday, which have been saved me a lots of money:
- Forcing the market to turn up, when it is already going down, based on all sign (2 gifts)
- Forcing the market to start trend, before the news (1 BE run)

Anyhow, it was a good day, once again I am not good in trend For day 2 I will start to trading with 3 contract with SL 7-8 tick. That was my original plan, so after the welcome shot, I believe I can start it. Here is the TST report. comission is a killer in case of YM compering with CL, GC, or TF


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  #11 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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It was a very easy day, and I didnt hit the expected win. Ofc it is green, but there was much more in the market;( which makes me unhappy. See you tomorrow, I have to leave to grab the kids!

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  #12 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Here is the report from yesterady

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  #13 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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Still in green, after some storm, and missed opportunity. Overall I am happy


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  #14 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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TST report

Máté
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  #15 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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It was a trend day. My goal was not winning but keep my risk as short as I can. I dont have experience in YM, and I dont have experience specially when YM is trending (my personal buddy is TF), so there was no reason for me to push the envelop too far. There will be more day which is in my favor, it is not a spring it is a marathoon (Thx mr. GFIs1 ).

So call this day as a BE. No major win, no major loss, only comission. Still in green:P, even when I dont have my edge:P

Máté
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  #16 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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A bit down for the expected avrage, and no loosing day still this time, but I am getting warm up. Just like the market, so no need to worry. I will continue my trades just like I am doing it right now, because no reason to change. More over I've got some hint based on GFIs1 how and when to trade the market, I am backtesting my first system called Mergo Lazy system for YM. Not a big deal, it is no against any rule, what I am doing right now, only I am choosing the entering and exiting time, very presicly, and I am not searching/fising any other trade during this time. Which makes me a happy camper.

Anyhow, we will see how it is going to worked out, but this is my first week with YM so the result will not push me to take unnecessery risk, when I dont feel it has to be taken
consistency > impulse


Máté
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  #17 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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Yesterday was a black day on my combine trading history. I failed the challange, because I was not able to manage the 500USD daily risk. I know I have this weakness, to overtrade, and over think situation, yesterday, it was cleary shown, it is still there.
The starting position was weak as well. I was not doing my daily rutin at all. There was no music, no well defined trading arena, etc... But anyhow what was really missing is discipline and consistency and a plan to follow.

So what now you can ask... There is no question in my mind I will continue with a next challange, but I have to read the learnings first:
- I was bit feeling I am in the time pressure. I was comparing my results all the time with TF moves, and I was trying to force myself to trade, and move out from good trades before it is ending because it is YM and not TF. Solution: I will do a 20 days combine instead of 10. More time, more confident for me as well, and I believe with my motion and impulse moves it will be much better
- Coming back to impulse trades. Thanking to GFIs1 again I made some analysis on the YM. I have a pretty good approach when to trade and how to trade. So I am planing to make some trades in the market open with lower risk (2 contract), and only 1 trade based on GFIs1 methadology on the consolidation period, with a 3 contract.
- The timing of my trading is there only to avoid signal searching, when it is less likly to happen, so it helps me to dodge ot crazy situation and falling in love into them

All the other things doesnt have to be changed. I am keep sharping my brain, reading methadologies, journals (one of my favorite is Vince CL trades), and love to be here. So there is no question in my mind I will be successfull

Anyhow, Monday we will meet again my friends

Máté
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  #18 (permalink)
 GFIs1 
Legendary Market Wizard
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matevisky View Post
Yesterday was a black day on my combine trading history. I failed the challange, because I was not able to manage the 500USD daily risk. I know I have this weakness, to overtrade, and over think situation, yesterday, it was cleary shown, it is still there.

Good training though - and with some finetuning as you described it will work for sure.
Main point I read here is overtrading - this can put you under pressure too.
Traders under pressure often maked wrong decisions.

Happy weekend
GFIs1

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  #19 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
Thanks: 633 given, 1,532 received


GFIs1 View Post
Good training though - and with some finetuning as you described it will work for sure.

Main point I read here is overtrading - this can put you under pressure too.

Traders under pressure often maked wrong decisions.



Happy weekend

GFIs1


Yip and agree. No time pressure, based on your findings on dax i will choose good timewindow to trade YM. No distraction. Less trade less stress.

Have a nice weekend

Máté
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 kevinkdog   is a Vendor
 
 
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matevisky View Post
Yesterday was a black day on my combine trading history. I failed the challange, because I was not able to manage the 500USD daily risk. I know I have this weakness, to overtrade, and over think situation, yesterday, it was cleary shown, it is still there.
The starting position was weak as well. I was not doing my daily rutin at all. There was no music, no well defined trading arena, etc... But anyhow what was really missing is discipline and consistency and a plan to follow.

So what now you can ask... There is no question in my mind I will continue with a next challange, but I have to read the learnings first:
- I was bit feeling I am in the time pressure. I was comparing my results all the time with TF moves, and I was trying to force myself to trade, and move out from good trades before it is ending because it is YM and not TF. Solution: I will do a 20 days combine instead of 10. More time, more confident for me as well, and I believe with my motion and impulse moves it will be much better
- Coming back to impulse trades. Thanking to GFIs1 again I made some analysis on the YM. I have a pretty good approach when to trade and how to trade. So I am planing to make some trades in the market open with lower risk (2 contract), and only 1 trade based on GFIs1 methadology on the consolidation period, with a 3 contract.
- The timing of my trading is there only to avoid signal searching, when it is less likly to happen, so it helps me to dodge ot crazy situation and falling in love into them

All the other things doesnt have to be changed. I am keep sharping my brain, reading methadologies, journals (one of my favorite is Vince CL trades), and love to be here. So there is no question in my mind I will be successfull

Anyhow, Monday we will meet again my friends


Sad to see this.



Here is some harsh advice. The brutal truth. I don't mean to offend you, but I do want to shake you up so you realize what's up:


In my opinion, your solution detailed above to the problem of exceeding the $500 daily loss limit is not a solution at all.

It is simple, really.

You exceeded the $500 Daily Loss Limit. This is absolutely 100% in your control - one of the only things in a Combine that is in your control.

If you cannot pass this requirement, you really should not be trading at all.

You need to come to grips why you did this, put a written plan in place to not do it again (hint: don't take any trades where you run the risk of hitting the limit - simple as that), and (most importantly) follow your plan!


All the other stuff is important only once you master this basic rule.


I wish you the best of luck. Again, I apologize if I came across harshly, but I am trying to help.

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  #21 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
Trading: NQ, TF, YM
 
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Posts: 469 since May 2013
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kevinkdog View Post

Sad to see this.



Here is some harsh advice. The brutal truth. I don't mean to offend you, but I do want to shake you up so you realize what's up:


In my opinion, your solution detailed above to the problem of exceeding the $500 daily loss limit is not a solution at all.

It is simple, really.

You exceeded the $500 Daily Loss Limit. This is absolutely 100% in your control - one of the only things in a Combine that is in your control.

If you cannot pass this requirement, you really should not be trading at all.

You need to come to grips why you did this, put a written plan in place to not do it again (hint: don't take any trades where you run the risk of hitting the limit - simple as that), and (most importantly) follow your plan!


All the other stuff is important only once you master this basic rule.


I wish you the best of luck. Again, I apologize if I came across harshly, but I am trying to help.

It is not harhasing at all. As you can see I made the same conclution as well. I failed, because I overtrade, and I was not in controll. So I need a change:
- less stress, longer combine
- trade less, trade in timing windows

So what I am doing is what you are saying, I am just giving myself a more straigth forward rules than before. That is the beouty of the combine, you can blame someone else. Thx to hope in!

Máté
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 kevinkdog   is a Vendor
 
 
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matevisky View Post
It is not harhasing at all. As you can see I made the same conclution as well. I failed, because I overtrade, and I was not in controll. So I need a change:
- less stress, longer combine
- trade less, trade in timing windows

So what I am doing is what you are saying, I am just giving myself a more straigth forward rules than before. That is the beouty of the combine, you can blame someone else. Thx to hope in!

Maybe you need a change in your rules for other reasons, but " - less stress, longer combine
- trade less, trade in timing windows" is NOT the answer to failing the Daily Loss Limit.


For example, how does doing a "longer Combine" help you avoid the Daily Loss Limit? It doesn't.

That is my point: your solution (your proposed 4 changes) is WAYYYY too complicated, and really not even applicable to the Daily Loss Limit.

The solution is simple: Never open a new trade where a loss will put you over the Daily Loss Limit.


If you cannot even follow this SIMPLE rule that is TOTALLY in your control, how can you ever expect to be successful trading (the answer is you can't expect to be successful, and you won't be).

Some things in trading may be complicated, but the Daily Loss Limit is not one of them. Simplify your rules, make sure your rules address the real issue, and you'll be on the path to success.

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  #23 (permalink)
 Daytrader999 
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I can't stress this point enough, your Daily Loss Limit really is one of the few things you actually can control....so I really subscribe to that.

If you spiritualize these simple rule, you'll stack the odds in your favor !


kevinkdog View Post
Maybe you need a change in your rules for other reasons, but " - less stress, longer combine
- trade less, trade in timing windows" is NOT the answer to failing the Daily Loss Limit.


For example, how does doing a "longer Combine" help you avoid the Daily Loss Limit? It doesn't.

That is my point: your solution (your proposed 4 changes) is WAYYYY too complicated, and really not even applicable to the Daily Loss Limit.

The solution is simple: Never open a new trade where a loss will put you over the Daily Loss Limit.


If you cannot even follow this SIMPLE rule that is TOTALLY in your control, how can you ever expect to be successful trading (the answer is you can't expect to be successful, and you won't be).

Some things in trading may be complicated, but the Daily Loss Limit is not one of them. Simplify your rules, make sure your rules address the real issue, and you'll be on the path to success.


"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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  #24 (permalink)
 matevisky 
Budapest, Hungary
 
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Coming back to my point, here is the following:
- I failed on the simpliest rule. Agree with daytrader, it is the simpliest to keep in mind and I failed it. Thus, i dont want to overtrade at all. I've been developed on entry strategy, which giving me a time window, to find the trade. That's all. If I am not finding a trade there, then that is a no trade. If I find one, and fail, than that is the fail. But I dont want to shoot bullets anymore. These idea was coming from GFIs1 as I told it before, and from Vince CL trades as well, who is reading the 800tick pattern. Anyhow.
- I am also admiting that fact, I like to be impulsive, and overtrade things, so it will also help me to keep me in controll.
- Going for 20 days has the same thing. It is a slow trading idea (1-2 trades / day on YM only) If I can keep it up for 20 days without overtrade myself, than that means I can go forward. If not, than I need to learn more.

We will see. I dont want to change major rules at all. I dont want to use another strategy. I've done my study to timewindow trading and it gives enough opportunity and overall winning tick to complie the combine in 20 days, even in 10 days as well.
It is still important to be consistent, and dont changes things what I am not able to change, simply just avoid them. So I am avoiding myself, to full in love in impulse, and I am forcing my self, to see the market clarity when it is clearn enough to make a good bet, what will happen.
You are going to see how I am progressing, and all the comments are welcome! I am not make it personal, because I am on the looser side of the trades, so I am here to learn, but I have to find my own way, I have to choose my own path, and at the and I will be alone.
Trading is just like Yoga. You are do it your self, and noone else can do it for you

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  #25 (permalink)
 bobwest 
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kevinkdog View Post
The solution is simple: Never open a new trade where a loss will put you over the Daily Loss Limit.



Daytrader999 View Post
I can't stress this point enough, your Daily Loss Limit really is one of the few things you actually can control....

Hi, I don't want to be piling on after you have already heard the same thing twice, but let me suggest a very simple, and completely foolproof rule:

"If the amount of my stop, plus commission, plus two ticks for slippage, would put me over my daily loss limit on the next trade if the trade goes against me, then I will take no more trades and stop for the day now."

Everything else you are thinking about, including your measures to control overtraining, may be very valid, and, as you say, it is up to you, but unless you actually stop trading whenever it is mathematically possible to hit the limit, then you certainly will eventually hit it.

You might also think about having a lower personal loss limit than the Combine limit, and something like "If I have x losses in a row then I stop for today." (You decide what "x" is -- but not a large number....)

But if you just add that rule about stopping when it is possible to be over the limit, then you will never be over the limit.... Very few things are actually perfect, but this is one!

Good luck, hope to see you succeed.

Bob.

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 ratfink 
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matevisky View Post
The starting position was weak as well. I was not doing my daily rutin at all. There was no music, no well defined trading arena, etc... But anyhow what was really missing is discipline and consistency and a plan to follow.

I have looked back over my personal records for a few months and find the one item that best correlated with a successful trading day was if I had a good walk and a clear head to start the day. Otherwise I can forget it. Most other things (e.g. number/type of trades, etc) were mostly noise in the equation.

For now I have taken a step back to review my whole approach and plan for the year, might not restart until we get a dry month.

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 matevisky 
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Eh, It was a weekend. I've done all my setup the only missing point was to refresh my charts. It was very interesting to see, there was not enough bar on the chart, which made me nervus, but not nervus enough to think more. Anyhow. I was enterint for short I thought we are trending, than I realized something is very-very wrong. Anyhow I did a quick refresh, it was finished up around 25 mins after the market open. We were top again, and we were heading down, so I've stoped trading.
It was a small victory, and an already learned lesson again. On the weekend, if NT running, than I still have to restart it.
On the otherside, I was started to do some trading with Vince slow hand method on the CL. It was 2 trade 1 winner, 1 BE, basically it is nothing to add. I need lots of pratice there, but I like the clean chart, without many indicator, and a slow motion trades


Based on my new plan I was searching some entry to lazy method, but there was not any, so I've been stoped trading at 16:10. I had some other job to do, and my plan is to trade the market during the open, and let the runners run after the open if any. If not, than dont trade. I have 20 days to complie I've missed this monday trade, which was for my taste, but I dont bother with it.

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Pedro40
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kevinkdog View Post

The solution is simple: Never open a new trade where a loss will put you over the Daily Loss Limit.

At first look this sounds like a good advice, but there are cases, when it should be ignored.

Unless TST changed the rules, you can go below the DLL, you just can't close the trade. So let's say you are on your last trading day and you are either very close to making it or breaking even for the whole Combine, but you are down for the day. We all have different set ups. If a very low risk:reward set up comes along, it makes sense to go for it, because you wouldn't pass/breakeven the combine anyway, so a much better than 50% set up just makes good sense.

At that point even a high risk trade makes sense, because you are not going to make it anyway, so you might just go for it....But if it is early in the day, just wait for the better set up...

Here is an example from a CL trader's combine:


Quoting 
Had a Red day, and really the last Red day that I can possibly have in this combine. The remaining 2 days need to be green in order to meet that TST criteria of Daily win% greater than 55%. I also now have a negative in the overall account balance, something that really needs to get back up in the positive area, at the very least.

If his first trade on the 2nd to last day takes him close to his DLL, he still should try and come back, because his combine is blown anyway, so there is nothing to lose. But he still should wait for the best possible set up... Let's say he makes it back to slightly positive, then on his last day it starts again, and he is fighting for his Combine. (he needs to make $401 in 2 days)

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  #29 (permalink)
 matevisky 
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This was not my day at all. I was starting with a disconnection from topsteptrader server. I dont know where was the issue, but I missed the first runup. Than I got in, and stopped out with a bigger pullback with some tick. Happens, but in the shadow of the disconnection, I was not happy. Than we have been finished the runup, I made a quick to early decision, which was a mistake for sure, but than I was ready for a drop.
Drop didnt happened. I thought we will come back down, but we didnt. Anyhow, I was in break even almost. Than my feeling was still we are going to go back, didnt read the signs well, we were preparing for a big trend. So I made a big loss to make sure is it trend or not (it was) than I was hoping for a good pullback to ready to fly up to trend.
The pullback was coming I was out again with some tick, get in again. Was a bit risky with a very small SL size (3-4 tick) but it was worthy
During the trend, I was not monitoring the trade closely. I was moving my SL, and sometimes the TP level. After we did a break with 15900 area, I thought we will stop. We didnt, and I was out. Anyhow it was a good runup.
I made +580USD, but it was not my type of trade. I dont need trends, when it happens, it was a good feeling I was able to read YM with confident, just like I am doing it on the TF.
Oke, now you can ask I am in +600USD after 2 days. I believe I am safe now. I have 18 days to complie. My goal is not to hit the +1500USD but to doing the same rutin every day. If I will make more, I will make more. If I fail. I will fail. But the goal here is to prove my self, and TST team I am a good trader (beginner, but a good one) and not to hit some statistic.
We will see what is going to happen. See ya tomorrow

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 matevisky 
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Not much to add 18 days left Only thing maybe around @ratfink idea, I was doing a big walk before the trades has been started. I will do it today again

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Pedro40
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2 days, no update? Is it over?

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  #32 (permalink)
 matevisky 
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I've been changed my combine to 50K USD. I was doing some backtest, and I realized I need more room. This is not the perfect solution either, but give me enough breathing room to take trades. I can easly trade with 3 contract, I am planing to have 2-3 trades on lucky days, and 4-5 trades on not so luck trades.
SL with still 8-12 tick, based on a smart SL, in case of trends it could be bigger. I have to take more care for trending, to have enough limit, but the basic idea, is to push the envelop on the trends, if I feel it is pushable, otherwise, close it on BE.
Anyhow. Friday trade is like text book. Not too much to add, I have to follow this mentality. Trade smart, trade in patiant, trade by the rules. Rules are repeatable, feelings are not.
Have a nice weekend to all of you


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Pedro40
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matevisky View Post
I've been changed my combine to 50K USD.

Since I don't think they let you switch during the Combine, it is reasonable to assume you blew the 2nd one (on the 3rd day) and this is your 3rd Combine?

If so, I don't think the switch will make a difference, because you keep letting yourself to hit the DLL... It is all about position sizing and risk control....

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  #34 (permalink)
 matevisky 
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Pedro40 View Post
Since I don't think they let you switch during the Combine, it is reasonable to assume you blew the 2nd one (on the 3rd day) and this is your 3rd Combine?

If so, I don't think the switch will make a difference, because you keep letting yourself to hit the DLL... It is all about position sizing and risk control....

Hi Pedro. Thank you for trying to help me out here with your wishfull, and added value comments. It is always welcome:
- Yes TSP not allow to change any combine, the right wording is I have started a new challange
- Did I blow the old one again on THU? Good question and good logic I can agree with you on the logic side, but we will never know the truth.
- It is only position sizing and risk controll: Yes it is, and it makes a different system by system: 30K USD has allows 500USD daily loss, 50K USD allows 1000USD. I used 2 contract on my 30K USD, and I am using 3 contract on my 50K USD account.

You can say that ofc do the challange with 1 contract, no matter what, but I have to levrege, my expectation on the winner side. So going back to my original idea, I was backtesting again a plan for TST, with market replay, with my friends and so on... And based on the calculations 50K USD looks better. And I agree with you. There is a downside, and a trick as well. In case of the 30K USD combine, the trailing loss could be 1500USD, in case of the 50K combine the trailing loss limit is only 2000USD.
So going back along this logic, it is kind of harder as well. So getting 1000USD daily loss limit, is a big lie, because if you are not doing the R/R properly you will fail anyway.

Please feel free to question my logic anytime, to help me to improve! Thank you!


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  #35 (permalink)
Pedro40
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I had a thread a year or so ago where I gave strategic advice how to approach the Combine. Some of the rules have been changed since, but most of them are still sound ideas, look the thread up, there isn't much trading tomorrow anyway (president's day). I also did 3 combines (one rolled over, 2 failed) and I traded those until the last days, so they weren't blown in a few days. The reason I mention this, so you know I have personal experience.

Anyhow, since you are doing the 20 days and there is no more profit to make (like used to), I would take it easy in the first 5 or so days, just to get your groove back, gain a little profit, so you are not fighting from the red right out of the start. So just start out with less cars (position management) and build it from there if profitable. If you get a loss, at least it is a smaller loss.

The other important thing is to completely understand the rules. lots of people blow the combine becuase they think they don't have more chances and they go into a trade all or nothing, when they still had more options. I mentioned earlier, you can actually go below the DLL, you just can't close the trade with such a loss. At least that was the case a year ago. The reason I mention this because once a trader gets close to the DLL, assuming you can not cross it, the trading opportunities dry up quickly. But you can wait for a high possibility set up and with a winning trade you can get away from the looming DLL.

This is also a trending market, so average up, add more cars when in profit...

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Pedro40 View Post
.... I mentioned earlier, you can actually go below the DLL, you just can't close the trade with such a loss. At least that was the case a year ago. The reason I mention this because once a trader gets close to the DLL, assuming you can not cross it, the trading opportunities dry up quickly. But you can wait for a high possibility set up and with a winning trade you can get away from the looming DLL....

Just wanted to point out that this is no longer the case. If you are in a trade and you go below the DLL, the platform (T4 at least) will flatten your position immediately and block the account.

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  #37 (permalink)
 matevisky 
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LogicalTrader View Post
Just wanted to point out that this is no longer the case. If you are in a trade and you go below the DLL, the platform (T4 at least) will flatten your position immediately and block the account.

I am using NT and not T4. But yes, they are highlight every time that could be the case during using Ninja

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  #38 (permalink)
 matevisky 
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Pedro40 View Post
I had a thread a year or so ago where I gave strategic advice how to approach the Combine. Some of the rules have been changed since, but most of them are still sound ideas, look the thread up, there isn't much trading tomorrow anyway (president's day). I also did 3 combines (one rolled over, 2 failed) and I traded those until the last days, so they weren't blown in a few days. The reason I mention this, so you know I have personal experience.

Anyhow, since you are doing the 20 days and there is no more profit to make (like used to), I would take it easy in the first 5 or so days, just to get your groove back, gain a little profit, so you are not fighting from the red right out of the start. So just start out with less cars (position management) and build it from there if profitable. If you get a loss, at least it is a smaller loss.

The other important thing is to completely understand the rules. lots of people blow the combine becuase they think they don't have more chances and they go into a trade all or nothing, when they still had more options. I mentioned earlier, you can actually go below the DLL, you just can't close the trade with such a loss. At least that was the case a year ago. The reason I mention this because once a trader gets close to the DLL, assuming you can not cross it, the trading opportunities dry up quickly. But you can wait for a high possibility set up and with a winning trade you can get away from the looming DLL.

This is also a trending market, so average up, add more cars when in profit...

Most of your points are correct, but this is not an all or nothing situation. This is a situation where I know it is a good test for me to decied is this the road where I want to go. Maybe I told at the begining I am not a well disciplined person. So I can choose to blow up some more personal account, or proove my self here...

Anyhow, I absolutly do agree with you. TST is tempting in the first time, but when you are doing it you are realizing you have to align more and more rules, and you have to adopt your strategy into it. I didnt do it at the first time at all. The failure was not because of this ofc it was just a realization of the TST experience.

I give you an example. With my mindset I was in the mood to trade till I feel I can trade. If it is afternoon, than it is afternoon, if it is only 10 mins, than that's it. But because of the TST rules, I have to define not only the sweet spots, but numbers of the trade what I can get. Along this logic, and thx again to @GFIs1 I realized if i am choosing time windows to trade, and search signal, than I can limit my trades, and also I can get a bit better winning ratio.
So I took these learnings, and started to backtest marketreplay this methadology on the YM.

Now I have a very strick system, with very strick rules to follow, which has been tailored to TST. I never had a system like this before, so it is a big thank to TST again to push me to do this. Now the only thing is that am I capable to follow this road? I dont know! I know I have discipline issue. I am working on that, and I could looks to be a looser, and guess what, maybe I am! If I have to bet, than always easier to bet the looser side in case of trading

But getting back to my point, thx again the valuabe info's tips etc... I do my best to put all these things together!

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  #39 (permalink)
 matevisky 
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No trade today. No known market open from my side! I give the credit to Obama!

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  #40 (permalink)
Pedro40
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LogicalTrader View Post
Just wanted to point out that this is no longer the case.

Ok, thanks for the correction, I think I remembered wrong and it is not the DLL, but the max. loss what can be crossed as long as you don't close the trade. Of course that was a year or so ago, so they might have fixed it (it never made sense)...

Basicly here is how it worked:

You got close both to your DLL and max. loss let's say at half of your Combine. (Let's say -490 for the day and -1450 for the Combine) It is very hard to get away from there, thinking you can not go below it, basicly you need a trade that never goes against you. But if you know that you can actually go below the max. loss, you just had to stop for that day, and the next day you still had the DLL as your max. loss for the day, and you could take a trade that initially went against you, as long as it came back and you closed it above the max. loss. So everything wasn't lost and there was a chance that you can make it back to breakeven and save the Combine...

So technically, the real max. loss was max. loss + DLL. In case of the 30K it is 2K instead of $1500...

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  #41 (permalink)
 matevisky 
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Pedro40 View Post
Ok, thanks for the correction, I think I remembered wrong and it is not the DLL, but the max. loss what can be crossed as long as you don't close the trade. Of course that was a year or so ago, so they might have fixed it (it never made sense)...

Basicly here is how it worked:

You got close both to your DLL and max. loss let's say at half of your Combine. (Let's say -490 for the day and -1450 for the Combine) It is very hard to get away from there, thinking you can not go below it, basicly you need a trade that never goes against you. But if you know that you can actually go below the max. loss, you just had to stop for that day, and the next day you still had the DLL as your max. loss for the day, and you could take a trade that initially went against you, as long as it came back and you closed it above the max. loss. So everything wasn't lost and there was a chance that you can make it back to breakeven and save the Combine...

So technically, the real max. loss was max. loss + DLL. In case of the 30K it is 2K instead of $1500...

I fully agree with you. I dont want to give me any chance in the future to get close into the combine DLL or weekly Loss Limit, or Trailing Loss limit. Basically the combine is ideal for scalping systems. Ofc everything is about R/R calculation, but in case of scalping, you are playing with smaller Risk.

Getting back to my point, and doing the analysis, I have to be supercarefull. At the end I think it is better for me than worse, at least based on the backtesting of different timeslots in MarketReplay mode

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  #42 (permalink)
LogicalTrader
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Pedro40 View Post
Ok, thanks for the correction, I think I remembered wrong and it is not the DLL, but the max. loss what can be crossed as long as you don't close the trade. Of course that was a year or so ago, so they might have fixed it (it never made sense)...

I believe this is still the case. You could be below your max drawdown and as long as you havent crossed your DLL, you can still trade and try to get back above the max DD to live another day. So technically, you could start your day with max DD at -1490 and still be able to trade until you hit your DLL. If you close your day below max DD, obviously you are done.

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  #43 (permalink)
 matevisky 
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LogicalTrader View Post
I believe this is still the case. You could be below your max drawdown and as long as you havent crossed your DLL, you can still trade and try to get back above the max DD to live another day. So technically, you could start your day with max DD at -1490 and still be able to trade until you hit your DLL. If you close your day below max DD, obviously you are done.


Good to know

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  #44 (permalink)
Pedro40
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4 days and no update, hm...

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  #45 (permalink)
 matevisky 
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Send the update this weekend. I was doing some statistic, and grabed 3hundres today. I am not proud for it but it was decent. Till next week i hope i will have the full analysis around the YM and will able to trade better confident. Not burned my tst yet

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 matevisky 
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 matevisky 
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1 missed nice entry... some try to reversal, than just swim with a swarm...

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Pedro40
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So is it safe to assume that your 3rd Combine failed too? I like closures....

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  #49 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
Platform: Ninjatrader
Broker: TopstepTrader
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Long time, to post to here, but I think it is worth to do it. After more than 18 combine trial, I finally made it. I have been finished a continues combine in 13 days. You can call it luck, but this is not luck ofc. Here is a quick excel graphic around my trials:


You can see, most of the cases, I didnt even hit the 50% profit target, and my winning days was around 60%. In this combine I had 1 day loosing all the other are winners. I have to say that, I have been changed a lot. Thx for the pratice, and thx for the combine rules, and opportunity.

I have been learnt a lot from different sources, but my basic strategy, is attached to Horst. I have been many trading rooms, but at the end I have learnt, you need patient to let the trade win or loose, and you have to w8 for a perfect entry (based on any stratetegy, you can get a clear signal from the market only 5% of the time, so you have to wait)

Also I have been tried lots of indicators, bought lots of others, but at the end I have been stayed at Horst MacdBB style. Not because that is perfect, simply because I have been studied that the most.

I have to say at the end the biggest challange was to trade YM, insted of the TF. In the combine you are not allow to trade TF, you have to do it with YM. Horst trades almost only TF, and there are small, but very strong difference between the 2 instrument. I was a lots of headache about handling trends, and support and resistence level, but at the end I have find a good method to do so, so I am confident.

The hardest part was the end of the combine. I have broken my rules and I have moved the SL too soon, in the last 2 days, so It would have been done sooner ofc.

Anyhow here is some proof:



Last day of the report was not calculated yet, and there are some error on oct 6th, but not a big one (it was a very small winner anyway).

And my advice about trading is same what is @Big Mike is always saying, learn learn learn, because you can do anything, but at the end you have to be successfull, and you can be happy or angry only to yourself!

And some funny fact:
- I have been lost 20kg during this 1 year journey. Need more to lose but I am running every day, to maintain consistency, and clean my head from stress
- I have been stopped smoking. I was not a big smoker, but I do smoke during trading. I do not do it at all
- I am spending more time with my family than ever
- And ofc I have been spent a lots of money to trainings, indicators, trading rooms, accounts etc...

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  #50 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
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Thank you for @TopstepTrader support to correcting the reports, here is the final one (There is crude and NQ trades, but all those BEs doesnt really matters)

Anyhow I am waiting the TopSteptrader scout team feedback We will see what the future will give us soon...

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  #51 (permalink)
 bobwest 
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Congratulations on your win.

I have occasionally wondered what was going on with you, and I'm glad to see that you have been able to succeed at the Combine.

Let us know what happens next, when you know....

Bob.

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  #52 (permalink)
 matevisky 
Budapest, Hungary
 
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Long road had to be finished. Lots of up and downs, but I didn't give it up and after one year I still love to do it so here I am.
I will consider to start journal again we will see.

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  #53 (permalink)
 matevisky 
Budapest, Hungary
 
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Sorry for my english in advance, maybe it will be to hard, or not right, but this is not my first language. I have been recieved an email, which looks for me a template, and not a tailored email to personally me. Of course I do understand than @TopstepTrader has a right to do their best to the investors and the equity partners, to gain as much as they can with a minimal risk in place, but still.

So the situation is the following:
- I have to complie a Live Trader Preparation. It is fine in one hand if we are knowing that I have been tried 18 times to do combine, and only the last one was successfull. On the other hand my last attempts was 92% winning days, with a one day looser of 500USD. But it is still oke for me. I have been spend more than 4000USD on the combines, and they are asking one more for free, with 3000USD profit target in 10 days. Looks pretty easy. If you are not able to do it, than you can say that you are not fit to the team right? Right.

But here is the twist:
- They are asking me to use T4 platform instead of NinjaTrader. ?!?!?!!!! ooo Why? Of course I can apply for a Ninjadata feed, and to the trading on T4, but after 18 combines money, why dont I have the right to continue to use Ninja? It is looks a bit pity for me....
- They are asking me to use different scaling methadology... Why? I do understand in one hand for scalpers it is not an issue, but I like to call it a day after one day. In 50% of my trades are 1-3 trade in the first 30 minutes of the market open. I really dont like to trade or push more, because my edge is here. Now I have been forced to use 2 lots instead of my 7 lots. Really. I have been tailored this strategy to have 10 tick SL with 30 tick winner on YM. I have been analyzed a lot to have my edge on YM, now they are asking me to do lot more. Of course it is doable, but this is different. In my lasts combines I was always using 10tick SL with 7 lots, shooting for 30 tick winning. If I had my first 1-3 trade, I really didnt change the plan and I was shooting for 30-40 tick winning, than call it a day. Now I have to trade more time with 2 lots, which is out of my comfort zone, and my plan. I do understand that it is not an issue for scalpers, but this is very inconvinent for me. If you are checking my track record you can see that, I was more than happy to call it a day after 1 winner trade, or 1 looser and 1 winner trade, becuase I have know that, if I am risking 0.3% of maximum capital, and I am winning more than 0.5% of maximum capital, I am more than good. Why should I push more?
- There are some other comments, which are fine, and I dont have argue points (trading YM, not trading during economic news - I did not trade them at all anyway). So I dont have issue here.

So right now I feel that a bit of left alone. In one hand I do understand that @TopstepTrader have the right to ask only those traders who fits their profile, but on the other hand I thought that, If I invest money for the combines, and time to learn to trade with them (not using any of the training product what they have been offered) they will really look what I am doing, and taking some risk (which is not real risk) and understand me better.

Anyhow. I have been wrote them a letter about my consern, They will unerstand it or not, than we will see what happen. Either way I have been learnt a lot thx for them, and we will see how I will move forward (with or without them)

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  #54 (permalink)
 mykee 
Johor, Malaysia
 
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Hi Matevisky,

Congrats on your combine success.

It is on TopStep website, the scale in plan for successful traders. I believe they want to have traders who can trade 1 or 2 lots successfully and consistently before moving up, trading more lots.

As for the platform requirement, I don't think it's fair. Getting used to a platform takes time, the executing process needs to be comfortable. Is there any reason they asked you to use T4, instead of NinjaTrader? Or all those who go through LTP needs to use T4?

mykee

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  #55 (permalink)
 matevisky 
Budapest, Hungary
 
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mykee View Post
Hi Matevisky,

Congrats on your combine success.

It is on TopStep website, the scale in plan for successful traders. I believe they want to have traders who can trade 1 or 2 lots successfully and consistently before moving up, trading more lots.

As for the platform requirement, I don't think it's fair. Getting used to a platform takes time, the executing process needs to be comfortable. Is there any reason they asked you to use T4, instead of NinjaTrader? Or all those who go through LTP needs to use T4?

mykee

About the platform: I dont know. I had the same question to them, and I am ready to learn T4 if it is needed. I will use datafeed to ninja to see my charts, and I will execute the orders on T4 if it is a must. Not a big deal. Need pratice, but it is fine.

But I dont agree with a scale plan (and I know it is on the website) at all. If they are saying than, dont lose more than 0.1% risk in one trade that is fine. But there is no coleration between the lots size and your skill at all.
- if you can trade CL and YM in the same time with 2 lots, that is a big disadvantage if you are trading YM, because YM contract size is halfs of CL's
- Also my SL was always 350USD, I have never addon to any open position (winer or looser doesnt matter), moved SL bigger maybe one time (with 2-3 tick), and shoot for 500-1500USD (1:2-1:4 R:R)

I do understand that it is their plan, and it is written on the website, but for me it is doesnt make sense at all. You can easly loose any money with 2 lot as well, and with 7 lot as well, the only thing what is matter here is your risk management strategy. Now I have to cut my risk to 0.1% instead of using 0.3% which means that I have to produce half money in 10 days (not 13 days, or endless days) using 1/3 risk. So I have to take 2-3 times more trade, and I dont see the point here.

Anyhow I will ask them at least allow to to use 4 lots on the YM. That means 0.2% risk in 1 trade, and I will go for better targets, but 2 lots with YM (that is my primary instrument) is a big challange...

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  #56 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
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Hi Mate - WOW!
Congrats to your success - now new doors get open :-)
Wishing you a consistent approach for the next projects.
Some downs will no longer bother you as you have some
very good positive experiences.

Good Trades
GFIs1

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 iqgod 
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matevisky View Post
Sorry for my english in advance, maybe it will be to hard, or not right, but this is not my first language. I have been recieved an email, which looks for me a template, and not a tailored email to personally me. Of course I do understand than @TopstepTrader has a right to do their best to the investors and the equity partners, to gain as much as they can with a minimal risk in place, but still.

So the situation is the following:
- I have to complie a Live Trader Preparation. It is fine in one hand if we are knowing that I have been tried 18 times to do combine, and only the last one was successfull. On the other hand my last attempts was 92% winning days, with a one day looser of 500USD. But it is still oke for me. I have been spend more than 4000USD on the combines, and they are asking one more for free, with 3000USD profit target in 10 days. Looks pretty easy. If you are not able to do it, than you can say that you are not fit to the team right? Right.

But here is the twist:
- They are asking me to use T4 platform instead of NinjaTrader. ?!?!?!!!! ooo Why? Of course I can apply for a Ninjadata feed, and to the trading on T4, but after 18 combines money, why dont I have the right to continue to use Ninja? It is looks a bit pity for me....
- They are asking me to use different scaling methadology... Why? I do understand in one hand for scalpers it is not an issue, but I like to call it a day after one day. In 50% of my trades are 1-3 trade in the first 30 minutes of the market open. I really dont like to trade or push more, because my edge is here. Now I have been forced to use 2 lots instead of my 7 lots. Really. I have been tailored this strategy to have 10 tick SL with 30 tick winner on YM. I have been analyzed a lot to have my edge on YM, now they are asking me to do lot more. Of course it is doable, but this is different. In my lasts combines I was always using 10tick SL with 7 lots, shooting for 30 tick winning. If I had my first 1-3 trade, I really didnt change the plan and I was shooting for 30-40 tick winning, than call it a day. Now I have to trade more time with 2 lots, which is out of my comfort zone, and my plan. I do understand that it is not an issue for scalpers, but this is very inconvinent for me. If you are checking my track record you can see that, I was more than happy to call it a day after 1 winner trade, or 1 looser and 1 winner trade, becuase I have know that, if I am risking 0.3% of maximum capital, and I am winning more than 0.5% of maximum capital, I am more than good. Why should I push more?
- There are some other comments, which are fine, and I dont have argue points (trading YM, not trading during economic news - I did not trade them at all anyway). So I dont have issue here.

So right now I feel that a bit of left alone. In one hand I do understand that @TopstepTrader have the right to ask only those traders who fits their profile, but on the other hand I thought that, If I invest money for the combines, and time to learn to trade with them (not using any of the training product what they have been offered) they will really look what I am doing, and taking some risk (which is not real risk) and understand me better.



Anyhow. I have been wrote them a letter about my consern, They will unerstand it or not, than we will see what happen. Either way I have been learnt a lot thx for them, and we will see how I will move forward (with or without them)


I can feel your pain after working so hard. I myself have done 13 combines (I rolled one over yesterday).

But if you see their business model, you might understand why they have to do it this way.

Firstly the platform.

Why T4 now? Because as a junior funded trader they will ask you to trade during US office hours only - because they want a live person to monitor your risk. Makes sense because they will have real money on the line.

T4 platform allows them finer risk control - in fact it is designed for prop shops where the pit boss can pull a trader out if he is risking too much or not controlling losses.



The reason they want you to start with lower size is also because they have real money on the line and they want to reduce their risk. Note that the LTP and junior funded trader rules are designed to test if your risk profile is low.

Essentially staying a funded trader has an unwritten rule of you be low risk to them while producing profits, gunslingers need not apply is what they are getting at.



Somebody posted an analysis of TSTs business model somewhere, I have the text but do not remember where I got it from:

TST's profit split plus commission markup is still less then total operating expenses. The combine fees need to make up for it. The formula for the combine fees is complicated as they pay out $35 to the exchange for the data. So on a 10 day 30k combine that grosses $150, their net alone on this is only 115. This means if a trader earns a rollover, TST actually loses money on the combine fee the 2nd time around. Or let me put this a different way. If a trader does the combine that cost $150, and gets 4 free rollovers, TST will actually lose $25 net on the total 5 combines.

Assume the rollover ratio is 40%. So we can do some basic math here. For every 10 combines, 6 pay, 4 roll. The 4 roll generate a loss of 4 * 35 or 140. The 6 that pay generate a net of 6 * 115 or 690. That leaves a net of $550 for every 10 combines. I think their payroll is 30k a month. Not counting office space, utility cost, legal cost, marketing cost, etc that gives us these numbers:

30,000/550= 54.5

54.5 * 10 = 545 combines. That's how many combines they need a month just to breakeven.

Say of those 12 live traders, 6 of them pull out 1k a month in withdrawals. That is fair, half probably are not making anything and the other half are probably trying to build their cushion but will take out 1k. That is 6k coming out in which TST will get 2400.

They are certainly not making millions. If they count all the losses they had to sustain from the traders who passed and went live and flamed out which might be about 1500 on the cheapest combine but that could include 50 to 100 traders over the last 4 years. That's 75k to 150k in losses for them.

The math has to be looked at.

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  #58 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
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iqgod View Post
I can feel your pain after working so hard. I myself have done 13 combines (I rolled one over yesterday).

But if you see their business model, you might understand why they have to do it this way.

Firstly the platform.

Why T4 now? Because as a junior funded trader they will ask you to trade during US office hours only - because they want a live person to monitor your risk. Makes sense because they will have real money on the line.

T4 platform allows them finer risk control - in fact it is designed for prop shops where the pit boss can pull a trader out if he is risking too much or not controlling losses.



The reason they want you to start with lower size is also because they have real money on the line and they want to reduce their risk. Note that the LTP and junior funded trader rules are designed to test if your risk profile is low.

Essentially staying a funded trader has an unwritten rule of you be low risk to them while producing profits, gunslingers need not apply is what they are getting at.



Somebody posted an analysis of TSTs business model somewhere, I have the text but do not remember where I got it from:

TST's profit split plus commission markup is still less then total operating expenses. The combine fees need to make up for it. The formula for the combine fees is complicated as they pay out $35 to the exchange for the data. So on a 10 day 30k combine that grosses $150, their net alone on this is only 115. This means if a trader earns a rollover, TST actually loses money on the combine fee the 2nd time around. Or let me put this a different way. If a trader does the combine that cost $150, and gets 4 free rollovers, TST will actually lose $25 net on the total 5 combines.

Assume the rollover ratio is 40%. So we can do some basic math here. For every 10 combines, 6 pay, 4 roll. The 4 roll generate a loss of 4 * 35 or 140. The 6 that pay generate a net of 6 * 115 or 690. That leaves a net of $550 for every 10 combines. I think their payroll is 30k a month. Not counting office space, utility cost, legal cost, marketing cost, etc that gives us these numbers:

30,000/550= 54.5

54.5 * 10 = 545 combines. That's how many combines they need a month just to breakeven.

Say of those 12 live traders, 6 of them pull out 1k a month in withdrawals. That is fair, half probably are not making anything and the other half are probably trying to build their cushion but will take out 1k. That is 6k coming out in which TST will get 2400.

They are certainly not making millions. If they count all the losses they had to sustain from the traders who passed and went live and flamed out which might be about 1500 on the cheapest combine but that could include 50 to 100 traders over the last 4 years. That's 75k to 150k in losses for them.

The math has to be looked at.

I do understand the math, even if I do not think it is fair, to make so many combine over and over again, paying a lots of money, and now am not able to use my platform. But once again, I can accept this, also T4 give a better protection with the daily SL etc... If I have to use T4 as a senior trader, that is more than oke to start using it right now. If it is not a must than this request is really unfair. But I hope they will clarify it during the call with the support. Being said they were always open to talk, and we resolvd all the issue, so lets see...

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  #59 (permalink)
 iqgod 
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matevisky View Post
I do understand the math, even if I do not think it is fair, to make so many combine over and over again, paying a lots of money, and now am not able to use my platform. But once again, I can accept this, also T4 give a better protection with the daily SL etc... If I have to use T4 as a senior trader, that is more than oke to start using it right now. If it is not a must than this request is really unfair. But I hope they will clarify it during the call with the support. Being said they were always open to talk, and we resolvd all the issue, so lets see...

Yes, I agree with you.

I hope you find an amiable middle path in this.

All the best and keep up your great efforts!

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  #60 (permalink)
 cejstrup 
Denmark
 
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Congrats on the combine

Don't worry about T4 it's actually a very good platform. I've been using Trade Navigator for years before joining TopStep. And I decided to give T4 a chance.

At first it was horrible. Manually had to set the type of order and make sure not to place it on the wrong side of the market. After a lot of trial and error I discovered the option to automatically set the order type . It's in the settings and called "price protection" .

The T4 DOM is really good. Actually the best and the fastest I've ever tried. I decided to stick with Trade navigator for my charts and then use T4 DOM for the orders. Works very well for me. Give it a go.

Good luck on your journey

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  #61 (permalink)
 bobwest 
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In the Combine, I've been using T4 to enter trades, with Ninja as my charting tool, for a long time. Initially it was because when I started with Combines, they didn't offer anything but T4; after that, when they did have Ninja, I didn't want to use it right away because they had to make some modifications, and I wasn't interested in trading using something that might still have some bugs in it. After that, I have continued mainly out of mental inertia....

T4 is not as good a platform, in my opinion, but if all you are doing is entering trades with it, it is OK enough. For a long time I just used their DOM and ignored everything else (except open tickets and P/L!). It was awkward because I didn't have the entries and stops showing on my Ninja chart, but not all that bad. Now they have a version of chart trader, so you can see your positions and orders on a T4 chart.

You can take a couple of hours with the T4 Help screens to get used to the differences, and then it will be easy enough.

Now, I didn't really understand that you need to use T4 for the LTP. I don't understand it either, but never mind.... it does not have to be difficult.

I wrote this long post to encourage you about the use of T4; if youi have come this far, this will be a small step and you can overcome the difficulties.

Good luck with it.

Bob.

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  #62 (permalink)
 DarkPoolTrading 
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I still find it very strange that you are being forced to change platforms. The whole idea is that you continue doing what has gotten you this far,...that includes using the platform which you are comfortable on.

If you hear back from TST as to why they are forcing you to change at this stage please let us know.

Diversification is the only free lunch
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  #63 (permalink)
 matevisky 
Budapest, Hungary
 
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DarkPoolTrading View Post
I still find it very strange that you are being forced to change platforms. The whole idea is that you continue doing what has gotten you this far,...that includes using the platform which you are comfortable on.

If you hear back from TST as to why they are forcing you to change at this stage please let us know.

I will do. Maybe it is just a standard communication, and I can ask for ninja anyway. We will see.

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  #64 (permalink)
 matevisky 
Budapest, Hungary
 
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@TopstepTrader has just called me. We have been clarified I am free to continue to use NinjaTrader as my primary platform. Which is great, and my feeling was right about that it was a small mistake in the email.
We were speaking about the scaling plan as well. Unforcuneatly it is not changeable and bonded to lotsize. They have made this plan to avoid lots of burns in the begining and everyone has to align it. The only thing what has been changed here is that I have 60 calendar days to compline (minimum 10 days) so it was a missread from my side. I am still not happy with it, but that is what it is. The reason here is really lot size doesnt have any realation the risk what you take during 1 trade, but I know what is behind, and they have far more experience in this than me...

Based on this I would say that, in a lucky situation I can make this LTP in 20 trading days. If I am forcing my trades to take 2 winner in a day, maybe I can be ready much more quicker. We will see... Why I am saying this:
Building up 1500USD with YM with 2 lots, based on my results: is 10 days. (I am having 500USD/day avrage for 7 lots means, that is 140USD/day avarage for 2 lots).

We will do more talk on the LTP rules in the afternoon, I will let you know about the details

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  #65 (permalink)
 iqgod 
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@TopstepTrader has just called me. We have been clarified I am free to continue to use NinjaTrader as my primary platform. Which is great, and my feeling was right about that it was a small mistake in the email.
We were speaking about the scaling plan as well. Unforcuneatly it is not changeable and bonded to lotsize. They have made this plan to avoid lots of burns in the begining and everyone has to align it. The only thing what has been changed here is that I have 60 calendar days to compline (minimum 10 days) so it was a missread from my side. I am still not happy with it, but that is what it is. The reason here is really lot size doesnt have any realation the risk what you take during 1 trade, but I know what is behind, and they have far more experience in this than me...

Based on this I would say that, in a lucky situation I can make this LTP in 20 trading days. If I am forcing my trades to take 2 winner in a day, maybe I can be ready much more quicker. We will see... Why I am saying this:
Building up 1500USD with YM with 2 lots, based on my results: is 10 days. (I am having 500USD/day avrage for 7 lots means, that is 140USD/day avarage for 2 lots).

We will do more talk on the LTP rules in the afternoon, I will let you know about the details


Good to hear that it was a mistake in a templated email.

I am doing a smaller size combine for this restrictive rule of fewer lots at the start. Do let us know if you have a plan to tackle scaling in. Also remember that there is a weekly loss limit now - some traders here have be busted for forgetting that.

I wish you all the best again!

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  #66 (permalink)
 matevisky 
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iqgod View Post
Good to hear that it was a mistake in a templated email.

I am doing a smaller size combine for this restrictive rule of fewer lots at the start. Do let us know if you have a plan to tackle scaling in. Also remember that there is a weekly loss limit now - some traders here have be busted for forgetting that.

I wish you all the best again!

Here is the scaling plan:
Funded Trader: Scaling Plan ? Help & Feedback Center

If the tick value is bigger, than you are lucky, if your favorit instrument tick value is smaller, than you are doomed I was checking your journal it is almost the same for you (right now you are using 3 contract/trade, if you are getting successfull you will enabled to use 2 contracts only )

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  #67 (permalink)
 matevisky 
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I am starting it on Monday. I will consider to make a journal, but I dont want to overpromise myself. The live trading prep is almost the same than the combine:
Account Parameters
Trading Platform: Ninjatrader
Duration: Until profits of $3,000 are established (minimum of 10 trading days required, maximum of 60 calendar days)
Starting Balance: $0

Loss Limit:
Per day: $2,000
Per calendar week: $2,000
(The Weekly Loss Limit is the maximum amount you may lose at any point in a calendar week (Monday through Friday). The Weekly Loss Limit is factored based on the SUM of the realized total end of day Net P&L in the calendar week.)
Max Drawdown: $3,000 (account may not drop below Trailing Max Drawdown)
Product to Trade: E-Mini Dow
Objective
Profit Target: $3,000
Rules:
Always implement stops with an open position
Only trade permitted products, during the permitted times (as listed above)
Achieve an Average Net P&L greater than $0 for each product traded (enforced after 10 trading days)
Achieve an overall Winning Day percentage of 50 or greater (enforced after 10 trading days)
Ensure your Largest Losing Day will not hit or exceed Daily/Weekly Loss Limit
Ensure your Account Balance will not hit or exceed your Trailing Max Drawdown
Do not hold positions into major economic releases.
Follow the funded trader scaling plan
---

I have been excluded NQ and CL from my trading instrument. I can do trade them, but those are not my primary instruments, so there is no sense to put it on the list.
I was asking Russel again, but till I will be not senior trader (oh hell long road to get there) I am not able to choose that one.
The scaling plan will makes me slow, I will try to do 2 good trade a day instead of 1 good trade, if it is make sense (if there is news than it makes sense to take 2 trade for example). It is a bit of out my comfort zone, but not a big deal, it will be good to pratice more patient and concentration from day to day

All the other rules were followed already so lets do it again, than again with the live account:P

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  #68 (permalink)
 bobwest 
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All the other rules were followed already so lets do it again, than again with the live account:P

Good luck.

I'll be following if you decide to post your progress.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #69 (permalink)
 matevisky 
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Lucky morning, lucky day to start the Live Trader Preparation. I was checking the news today morning, and I have seen nothing. So my feeling was that, we are not going for big moves today, and big trends. Maybe I will wrong, but I dont care. I am done for the day. The picture was clear after the open, I had lots of space till the globex High, so if was good for long, even if it was a bit extreme for GAP lovers. I am not one of those.

I have 33 tick in 1 trade, in 5 mins. No reason to push it forward, see you tomorrow, on day 2.
(The plan is simple, 1 shot 1 kill. If it is not successfull, than commit yourself to trade. If it is, than leave it! You are done for the day, no reason to push it forward )



Some reason to take this trade:
- We have a lots of room to the upside
- We are still close to the opening range
- If this trade is not working, than I would have take the reversal immideatly (pretty obvius than we are shooting for to close the gap, and lots of space over there as well)
- Picture was nice, not supernice, but nice

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  #70 (permalink)
 matevisky 
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Market is crazy like hell today. Dont want to guessing who is going to win or loose. Ofc you can win hell a lot of money on market drops like today, but never mind. The only goal here is to be consistence. Today she missed my pop up with 1 tick, so I didnt overcommit myself, ended up with +250USD, bit less then my daily goal (300USD), but it is more than enough for me a day like this.

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 bobwest 
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The only goal here is to be consistence.

That's the secret, of course.

Very good trading.

Bob.

When one door closes, another opens.
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  #72 (permalink)
 matevisky 
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Wide opening range, big big GAP, meaning 1 thing: Truthfull and emotianal moves on the market. So believe them, dont think on whys, and be happy to make your day in 2 minutes, even if you are lagging like me. I did take the first trade, but not there, way before. Anyhow, I would have to go for a loss anyway, so not a big deal, but I have been reentered to it much more sooner. Never mind. No need to cry here. I am at my goal after 2 minutes of trading, so no need to cry!

Have a good trade for everyone!

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  #73 (permalink)
 matevisky 
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I am dealing with some confident issue around these days. Really, I know it is looking strange, but more I am doing great in trading more I having the feeling it is just pure luck. Here is some observation from the last 1 month:
- I have been started to trading my trading system, and only my trading system. It is not written, there are some subjictevity rule in it, but I have some straight forward rule:
- I have pretty clear picture what is an entry, what is the StopLoss for that, what is my daily goal, what is my profit goal in 1 day
- Also I have some rules when to find trades, which levels, when, when not (during news)
- I made some mistake during the last month, but never and ever changed my Stop loss (sometimes only with few ticks, because the entry was late, or slipage, but not because of the justification of my entry, and my dicision)
- I have 20 winning days, and 1 loosing day, with an avrerage 20 tick winning and avarage 15tick loosing/day
- I am done for the day in the first 30 minutes in 75% of my trading days, but I also have a confident to trade the first 90 minutes, or the afternoon session as well.
- I have been turned 4 times a loosing day (-30 tick) to a winning or breakeven one. And not with impulse trading, but with waiting, and being patient

So I believe I have a lots of change from the past 1 year, but I still do not feel that, I am consistence and confident. Really. Sometimes I have a feeling it is to clear, and too easy, even with hard days, I have a feeling, the only thing what can fail me if I am not trading the market, but I am trading my feelings.
Anyhow the question is here for those one who are trading consistence and confident. Were there any catalist when it happened, or it just happened, and of course there are some milestone, but nothing big major change, only it is getting more and more sense...?

Hope, my question is clear... I was overconfident in the begining, and right now I am not confident at all...

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  #74 (permalink)
 ratfink 
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So I believe I have a lots of change from the past 1 year, but I still do not feel that, I am consistence and confident. Really. Sometimes I have a feeling it is to clear, and too easy, even with hard days, I have a feeling, the only thing what can fail me if I am not trading the market, but I am trading my feelings.
Anyhow the question is here for those one who are trading consistence and confident. Were there any catalist when it happened, or it just happened, and of course there are some milestone, but nothing big major change, only it is getting more and more sense...?

It's much scarier when you realise you can do it.

Travel Well
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  #75 (permalink)
 matevisky 
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I am done with my first week. Unforcuneatly because of technical issues, I have been missed Monday, about trading, so it was a short week. I can guess trend lovers make it huge, for me it was just it should have to be based on my plan.
Today is Friday, some news coming, getting end of the week, we have a huge GAP, market is moving up bla bla bla. I missed - didnt filled - my first entry, so I was oke with my 25 tick of winning for today:


Here is my first week P/L calculation. Not a complex one. I am not trading too much as you can see (ofc it could happen I take 10 trades in a day, but that is a different story )

So it is 4 winning days in a row. Next week plan is to do it again just like this week.

Here is my how did I start and fail and fail and fail and fail and ..... fail my combines. The funny statistic is about I almost never made it half way (I had some lucky combine ofc) and my winning %/trading day was not so good either. So keep up the good faith, and dont give it up, but change observe, pratice as much as you can!


Have a great weekend for everyone. DFD

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  #76 (permalink)
 cejstrup 
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Wow.Fantastic progress Keep it going . Stick to the plan and you'll be golden.

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  #77 (permalink)
 matevisky 
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I have to review the market moves for this week. It was a good week, but I would like to mark trading opportunities for the whole opening session. So I will make some screenshot for you guys, if you intrerested in, why would I have been took trade, if I would not have been done so quick.

The other thing is I will keep continue to develop my home made indicator. And yes, I will put some customization option only for you but please give me some thanks, if you would like to have it... here is the details about it (that is my first indi, so please dont expect nothing special:P )

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  #78 (permalink)
 matevisky 
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Bigger the move, the market clarity is more stronger. Based on my home made rules, I have some guess, what the market will do. I have preset levels for trends, and ranges. I never know what is coming ofcourse, but I do know the times, when to look forward for the signals.

Today was superclear:
1. I did this trade, and make me happy. Big big opening range, short pullback till 9:45
2. Shooting back, news are coming, pause the market a bit
3. Funny pullback after the news. It has been stopped, right on the market opening range. So it could go up, or go down. We are after the news 10:02 so it is a perfect time to bet on go up (if it is goes down, the GAP is so huge, we will have time and space to entry anyway)
4. Perfect place to get profit. We are at the globex High-Low fib extension (1.38). This place loved to trade by the pit traders. So if it would have been touched I would have love the short as well
5. Oke, we were trending forward. Decision point again. Is it going to be a trend day, or a normal reversal day? Based on statistics 4:1 favoring a normal revarsal day. So picture favoring the short, but only after lunch (during lunch there is no need to take the trade)
6. Ups we are at the opening range again. Time to find longs. No reason to find shorts. On the double bottom area the picture has more and more clarity...


Speaking frankly it is so much easier to trade when it is moving, than when it is not. Ofc I did take only the first trade, but I would have traded like this. And even if I am getting wrong 1-2 times during the right time and positions, I still would have a lots of great opportunity to get it back

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  #79 (permalink)
 matevisky 
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Here is what it takes. And ofc you never know is it going to work or not! Short story, well written, worth to read:

https://medium.com/swlh/how-quitting-my-corporate-job-for-my-startup-dream-f-cked-my-life-up-3b6b3e29b318

Why is it fit for me? I have been working in the consultancy (not finance!, business and system integration) companies like Accenture, T-System, Wipro for more than 10 years. I do know what it takes, and if I would like to be supertruthfull. I dont know how my story will be ending, but being on the road, fighting to push it forward every day was superworthy!
Companies like those always telling: start to thinking out of the box, live your dreams, be different. But they never ment it for real.
Here in trading world, maybe you are not going to be successfull, maybe you are not going to make it. But if you are really trying you will learn about yourself, your friends and family more than ever!
Stop believing, keep fighting, because only with blood and sweat could make you keep on the road

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  #80 (permalink)
 matevisky 
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Oh YES. I am ready with it. After 1 year I made my first indicator, thank you for lots of help from the programing forum. The first indicator was everything. I have put every level (open, close, high, lows), with wide range bar zones, just to see clarity. It was looking something like this:


But I didnt like it. Ofc it is looking great with a lots of levels, but too many level, is too many opportunity to hit the button. If you are using too many thing, than you will feel that, there is a trade in every corner. And ofc there is a trade in every corner, because somebody is always moving the market, but it will not helps to be clear. So even it is looks awsome, with the lots of levels, wide range bar borders etc... I dont need it.

I am doing my research over and over again, and I am realize over and over again, if there is only 1 thing which fit my trading style after I am checking a video, or reading the book, than it was worth to read. So I have been skiped all the crap. At least crap for me, and I have been stayed, only with the Opening Range concept. That is what I really like and It is usefull for me. So I rewrite the indicator on the weekend. Working ofc only for me, because it has been tailored my trading style, but all the information is there what I am using, and what I am call a level:
- Opening range
- Globex High, Low
- Y-Close to see if there is any huge GAP
- Current RTH High/Low
- Targets for trend based on Globex High, Low level (no not pit session pivot, I dont like those levels)

And that's it. It is enough for me, to make my day, and it is not look to overwhelming. Maybe I will finetune it later, but it is looks perfect now As my first and second born child:P


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  #81 (permalink)
 matevisky 
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I have to share this picture. Ofc I was not envolved all the trades here, but I love to check it over and over again to train my mind, If I am missing the begining, all the thing what I have to do is to w8 for the clear picture like this.

Really. If you are patient enough - which is hard I know, but if you are training your mind, you are going to see picture like this. This is why I am saying, you dont have to shoot on every level. Yes, there is a lots of level out there, but isnt it awsome? I know I know you can cherry pick pictures like this, but I believe there is a cherry almost every day, if you are picking it right (meaning choose your own battlefield )


Really once again. This is my favorit rutin on the weekend. Just load my charts, and train my brain, to dont rush the trade, w8 for it, w8 for it, it will come with a clear picture

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  #82 (permalink)
 Silvester17 
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...but all the information is there what I am using, and what I am call a level:
- Opening range
- Globex High, Low
- Y-Close to see if there is any huge GAP
- Current RTH High/Low
- Targets for trend based on Globex High, Low level (no not pit session pivot, I dont like those levels)

And that's it. It is enough for me, to make my day, and it is not look to overwhelming. Maybe I will finetune it later, but it is looks perfect now As my first and second born child:P

I think those are all valid levels that can be considered as important

if you ever get tired of doing it yourself, or if you want something that's accurate to the tick, then I would recommend @Fat Tails indicators. in my pic below, I used 2 of his indicators:

- the opening range v42 mtf



- and a naked gap indicator (this one is not free, you'll need to pm @Fat Tails)


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  #83 (permalink)
 matevisky 
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Silvester17 View Post
I think those are all valid levels that can be considered as important

if you ever get tired of doing it yourself, or if you want something that's accurate to the tick, then I would recommend @Fat Tails indicators. in my pic below, I used 2 of his indicators:

- the opening range v42 mtf



- and a naked gap indicator (this one is not free, you'll need to pm @Fat Tails)


Thank you. @Fat Tails was helping me a lot to do it my own, so it was a part of the journy. I am lucky enough to have some programing skill, so it is more like to be on the road than to buy a ticket for the bus. Otherwise I have Trend targets as well (I know he also have it based on the opening range, but not based on the globex high low). So small differencies, which important for me, but not for everyone.

It is not a holy grail, but has a lots of meaning to me, how do I love to see the market moves, and when I do feel something is not right. But really thank you for the hint

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  #84 (permalink)
 matevisky 
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I am not saying it was an easy ride, almost got me out, because I moved my stop to BE too soon. It was a small error, but got lucky Anyhow, if it would have got me out there, I would have reentered almost on the next up bar. More heat, more headache, but the picture was pretty clear today, on every timeframe. No news, so less likely we are going out from the range. Market is on friendly waters, so no need to take fast moves. I was not expected it, so w8 was a good shot. I've missed the move my target out of the way, and grab +5 tick (that is what I used to do, if the market in time meaning before 9:40 and there is no reason to stop the going up move)

See you tomorrow. DFD

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  #85 (permalink)
daddy
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Nice trade.. again! I hope you got over your confidency issues, because your trading looks pretty consistent.. Keep it up!

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  #86 (permalink)
 matevisky 
Budapest, Hungary
 
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daddy View Post
Nice trade.. again! I hope you got over your confidency issues, because your trading looks pretty consistent.. Keep it up!


Look after one year struggle I believe it is a natural act to bring scaptical and do a quick rain check. But yes the trade is consistency, even if I would have absolutely sure about it would go higher I did not shoot for it. Is it bad or good? Only depend your own plan and goals.
So thank. You I do my best!

Máté
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  #87 (permalink)
 cory 
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matevisky View Post
...but all the information is there what I am using, and what I am call a level:
- Opening range
- Globex High, Low
- Y-Close to see if there is any huge GAP
- Current RTH High/Low
- Targets for trend based on Globex High, Low level (no not pit session pivot, I dont like those levels)

And that's it. It is enough for me, to make my day, and it is not look to overwhelming. Maybe I will finetune it later, but it is looks perfect now As my first and second born child:P

can you upload your indi? thanks.

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  #88 (permalink)
 matevisky 
Budapest, Hungary
 
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cory View Post
can you upload your indi? thanks.


Sure give me one day to clean up the code and make it customizable because it is hard coded to my settings right now.
And first indi so don't be hard on me with the feedback I am not a programmer

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  #89 (permalink)
 matevisky 
Budapest, Hungary
 
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Dear all! I have just received then information from @TopstepTrader scout team: I got founded!
I don't have to finish my LTP because of my result and consistency! So it is only a mather of the time of the administration process with the support team now!
I am not able to tell the feelings how happy I am even if I now there is a lot of challange will be on the road.

Máté
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  #90 (permalink)
 ratfink 
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matevisky View Post
Dear all! I have just received then information from @TopstepTrader scout team: I got founded!
I don't have to finish my LTP because of my result and consistency! So it is only a mather of the time of the administration process with the support team now!
I am not able to tell the feelings how happy I am even if I now there is a lot of challange will be on the road.

Congratulations, I watched your journey from the start - it was a good one.

Travel Well
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  #91 (permalink)
 Big Mike 
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matevisky View Post
Dear all! I have just received then information from @TopstepTrader scout team: I got founded!
I don't have to finish my LTP because of my result and consistency! So it is only a mather of the time of the administration process with the support team now!
I am not able to tell the feelings how happy I am even if I now there is a lot of challange will be on the road.

Congrats, keep it up.

Mike

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  #92 (permalink)
TurismoTek
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Matevisky,

Thought you might find this sheet interesting for trading the YM,

https://www.tothetick.com/lite/tothetick/dowjones.pdf?inf_contact_key=a14230a5fe3c827685f74e3ef2eac5f3a8e9a685357cfb6e3c831769dce3f28e

Simply refresh that page above each day and it'll give the newest day.

AND massive congratulations for passing your combine and live trading prep, you the man! Inspiring stuff.

All the best with going forward,
I'm sure you'll own it!

Turismo

EDIT: I'm sure if you read your first post from February you'll feel quite nostalgic and proud

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 bobwest 
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matevisky View Post
Dear all! I have just received then information from @TopstepTrader scout team: I got founded!
I don't have to finish my LTP because of my result and consistency! So it is only a mather of the time of the administration process with the support team now!
I am not able to tell the feelings how happy I am even if I now there is a lot of challange will be on the road.


ratfink View Post
Congratulations, I watched your journey from the start - it was a good one.

Congratulations! I watched it, too, and I'm very glad you made it.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #94 (permalink)
 iqgod 
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matevisky View Post
Dear all! I have just received then information from @TopstepTrader scout team: I got founded!
I don't have to finish my LTP because of my result and consistency! So it is only a mather of the time of the administration process with the support team now!
I am not able to tell the feelings how happy I am even if I now there is a lot of challange will be on the road.








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  #95 (permalink)
 matevisky 
Budapest, Hungary
 
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I will not do any trading today. My wife is on a business trip, so it is kids time, but I will do the coding, and I will send my observation after the market close (always easier to see the market moves, and the whys after the close dont you think? )

So here is the picture from yesterday. Very important, this is not an indicator war, or trend lines, or what so ever. It is my observation how do I try to filter the trades using observing time and place of the price movement on the market.



1. So new news, means it could be a quite day. Means, if we are down, than it is much more easier to go long immidieatly, than to waiting for any real comfirmation
2. Easy one. We are at my favorit turn back, or pullback time. And how lucky we are the previus swing high was just right here (8:20). Expecting a big move? not really, specially, we would like to exit from this trade before the news. But we are good for a pullback
3. We are after the news time (9:00) Even if there is no news, I am consider this time as a news event, and dont like to trade into it. So did we reached our goal to fill the GAP yet? no. Do we have any strong reason to go back (broker higher low) No? Oke, so if we dont do this kind of thing, than we are good to go up

So. This is the 3 trade what I have been consider to take it. How to do it, that is depend on you, but for my filtering based on the time and space continium I would have been tried these:P

(If you really would like to master trading with only time basis don't forget to check this journal:

@GFIs1 gave me a lots of good idea, to consider the time as a factor to taking trade. Ofc after that, I have bought a lots of stuff and indicator, to solve me a puzzle, than I realized @Big Mike always right, the best research is always your own research, so I did it to myself, to my market, to my indicator to fit to my style )

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  #96 (permalink)
 matevisky 
Budapest, Hungary
 
Experience: Intermediate
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TurismoTek View Post
Matevisky,

Thought you might find this sheet interesting for trading the YM,

https://www.tothetick.com/lite/tothetick/dowjones.pdf?inf_contact_key=a14230a5fe3c827685f74e3ef2eac5f3a8e9a685357cfb6e3c831769dce3f28e

Simply refresh that page above each day and it'll give the newest day.

AND massive congratulations for passing your combine and live trading prep, you the man! Inspiring stuff.

All the best with going forward,
I'm sure you'll own it!

Turismo

EDIT: I'm sure if you read your first post from February you'll feel quite nostalgic and proud

Thx Turismo, I know them, and I can tell them what is my problem It is make no sense for me, because it is very very hard to backtest. You can forward test ofc, but doing the backtest it is a hard thing to do. In the sheet there is a lots of levels, which could make sense, but doest it really make sense? Do I really would like to take a trade on every corner? Do I have to? And what is my routine? Is it fit there? Nup. Too much information Too many thing to consider

I am trading short term pivot moves. Short means, if it is only a pullback, than it still could make my day.
On the other side I have been there. I have tried to justified every level, every methadology pivot points, moving avrages, value areas, ranges, weekly highs lows etc... All these things are SUPERimportant to someone. Sometimes it will be important for me as well, because I tell you one thing. If you have a weekly low, most probably, the price will arrive there, with an extended move, most probably, it will be a fib level on a bigger timeframe, most probably it will fall into my globex session range extension etc...

So I am trying to avoid the many information to few, and only those few which could be easly obsovred by opening my charts, and indicators, without do anything else (oke oke checking the news ... ) But once again. It could be usefull. They are doing the same, with much more data: Emini Day Trading

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  #97 (permalink)
TurismoTek
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matevisky View Post
Thx Turismo, I know them, and I can tell them what is my problem It is make no sense for me, because it is very very hard to backtest. You can forward test ofc, but doing the backtest it is a hard thing to do. In the sheet there is a lots of levels, which could make sense, but doest it really make sense? Do I really would like to take a trade on every corner? Do I have to? And what is my routine? Is it fit there? Nup. Too much information Too many thing to consider

I am trading short term pivot moves. Short means, if it is only a pullback, than it still could make my day.
On the other side I have been there. I have tried to justified every level, every methadology pivot points, moving avrages, value areas, ranges, weekly highs lows etc... All these things are SUPERimportant to someone. Sometimes it will be important for me as well, because I tell you one thing. If you have a weekly low, most probably, the price will arrive there, with an extended move, most probably, it will be a fib level on a bigger timeframe, most probably it will fall into my globex session range extension etc...

So I am trying to avoid the many information to few, and only those few which could be easly obsovred by opening my charts, and indicators, without do anything else (oke oke checking the news ... ) But once again. It could be usefull. They are doing the same, with much more data: Emini Day Trading

I agree with you. Too much information.

You're right to keep it limited to what you feel is important... If a level isn't obvious, it's probably not important anyway.

I'll check out mypivots, thanks for sharing.

I've been watching YM ranging for 2 and a half hours now... no trades, going to quit for the day.

Turismo

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