For anyone who's also confused by T4's way of calculating trading stats, TST sent me a file explaining them. Please see attachment.
Below is their definition of "a trade":
What constitutes a “Trade” - A trade is considered 1 trade if the completed price “in” (entry) is
the same, no matter the quantity and the completed price “out” (exit) is the same, no matter the
quantity. If two entries occur at the same price, and two exits occur at different prices, then that
would constitute 2 trades. Positions are different than trades.
So this means if I long 5 contracts, exit 4 contracts at +5 ticks and the other 1 was stopped out at -1 tick, then you'll have 1 winning trade and 1 losing trade, thus 50% win %.
I'm more used to ninjatrader's way of doing performance report, and definitely think that makes more sense.
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Furthermore, there is always sequencing in executing trades, meaning always the first trade in gets exited first, no matter that you set up the limit order for the second entry.
For example I am long 1 ES contract from 1520. It pulls back 2 points so I go long with another contract at 1518. Now when the price goes back to 1520, I want to exit the 2nd entry with 2 points gain, but it doesn't matter if I change the limit price on that OCO order to 1520, the first entry will be executed first and it will be a break even trade.
I find this distracting because I specially set the limit order for the second entry and I wanted to keep the first entry longer so it could go into profit and help with the statistics... But whatever I try, first in first out if they are the same futures contract...
Edit: I have just found that Brian from T4 has a thread so I addressed this issue there....
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Clearly a lot of price and structure changes are in the works at @TopstepTrader. Their website is currently very much 'a work in progress'. (I wonder why the half baked website changes have been made public as they're clearly not complete)
As others have mentioned, it seems that the price for combines is going up and there doesn't seem to be a member discount anymore.
The price of the IDT course is going up. You get a complimentary combine along with the IDT course (not sure which one?)
The profit split for people who have done the IDT course and subsequently get funded is being dropped. It was originally 70:30, then 65:35, now just the standard 60:40 regardless.
I wonder what other price increases haven't yet made it to the website.
Hopefully the site will be completed soon and more clarity on these changes will be provided.
Diversification is the only free lunch
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