Of course, this is a major point, and it is right: The TsT Combine is a type of SIM. SIM is not real.
I have traded real money since 1982. Lost some, made some. It's different.
When I said that "it's their money," I was talking about whether it would be worthwhile, in the hypothetical future, to trade one of their funded accounts. Sure, it would be. Why not? And then it certainly would be different from risking your own money.
But as a training, the Combine type of SIM does put something on the line, compared to pure no-risk SIM: you put up some money to get in, which you will lose if you do poorly and get back if you do well; you are accountable to someone else besides yourself; and if you do well enough, there is the funding. Something is at stake, although it is not on the same level as your own dear, sweet cash.
I am still new to futures (not to stocks, not to options, but definitely to futures), and found that I could lose that cash so quickly that I looked for an intermediate learning tool. That has been the Combine. I am not fool enough, nor young enough, to imagine that once I can do well in it, I will go out and make my millions. But, for me, it is a good in-between step, in between no risk and all risk.
People will differ on this. But I see it as a reasonable in-between, having been in both places before.
I do notice that the TsT Combine attracts comment more than I would ever have expected. To repeat what I have said a few times now: it may be for you, and it may not. If you can use it, do so. If not, who cares about it? Pass on....
For me, it's a good tool.
But thanks @GFIs1, for the reality check. SIM is not real. The Combine, for all that it is a different type of SIM, is SIM. Therefore....
The following 5 users say Thank You to bobwest for this post:
I would like to make it clear concerning Combines: I won one TST combine here on futures.io (formerly BMT) in last journal contest.
Which I could unfortunately not take. This would be my ultimate 400$ gained to run into the next wall
But the truth lies much deeper:
As every follower of my journals know - I am trading the Dax. The Dax. Exclusively.
Hmmm - not allowed for a TST combine - but if you are approved AFTER a combine then you CAN.
Anyway - to change instrument, trading time (US based), unknown field to manage - then this first combine
is quicker than nothing LOST!
My external costs for the change of instrument, charts etc. to trade in a different environment and time
are much higher than the benefit of a passed combine (which is certainly not given on first attempt - lol)
My offer is to hand over a free combine (150K - wow!). PM me and explain what your idea for trading is..
All my attempts in trading were to optimize my trading to stay profitable. If things develop further as I had
in the past - then I do not need any combines. For some people it might be the right tool to get to new
levels with some coaching.
The following 7 users say Thank You to GFIs1 for this post:
I've been on and off with TST for several years. Recently back in it.
As with most retail traders, we are constantly trying to learning new trading methods. Passionately, trying to find the setup and trade management that gets us to consistently make a profit. This leads most of us to blowout our small accounts, quite often.
How do successful trader (people) find that edge? It's through continuous practice, in our case... screen time.
If you are not a pro making consistent profits, I would recommend SIM trading until you get there. The problem with SIM trading is that there isn't any pressure. It's great, if you have a plan in place and looking to optimize it. Heck, if you are at that point, you can just run back testing and replays.
Why TST? My view.
It offers a community - (great for new traders to learn from)
Key news announcements Adds some form of structure/rules to your trading.
A platform to develop your trading with others.
I agree that pit traders have to learn to be screen traders or start a business like TST. They created a business model that works for them. Getting funded and staying funded is tough. More power to them, it is a business first.
For me, the TST structure, helps me focus on the market as if I was in Live trading.
I did pay $100+ for the combine, so there is something that is lost if I don't make it.
Bottom line for me, TST is good for new traders trying to learn about futures for a few hundred. You try to get as much as you can from it and be done with it when you figure out the plan that works for you. Oh yeah, there is a chance you can get funded too.
The following 2 users say Thank You to Netanggos for this post:
I just started with TST last week. Had a few issues...
1. Could not connect through my own Ninja Trader Multi Broker license to the TST account. I had the TST support folks look into it and they couldnt resolve it. Then had Ninja Trader support folks look into it and they couldnt resolve it either. :-) That was surprising. Then installed on a new machine but this time used the license key from TST and it connected just fine. Only bad thing - its not my primary machine. So now I have to switch back and forth when I trade the TST account. Not a deal breaker but just an inconvenience.
2. After things got connected, I did receive bid ask prices for GC. Not sure what it was. TST support folks called in and got that resolved in a few minutes. I am glad that went smooth.
3. So the first week I was testing. I am obviously new to TST and their combine program and had absolutely no idea what the rules were. I subscribed because a friend of mine was in it. So in the first 2 days of testing I was down -90 and -500. :-) After that I understood what I was supposed to do and started trading properly like I would trade my own account. For the next few days I was making profits but since I already had a 500$ down day (on a 30K account), I violated one of their trading rules. So I did a reset and ended up paying $100 for the reset. Just did the reset yesterday.
So finally I am on my way now (2 successful day so far). Let me see how it goes. I will post my progress here.
The crux of all this for me is "you have a chance to get funded."
If you successfully pass the Combine, is there any evidence to show that people do get funded? It looks as if they're selling a dream with no real evidence to show that you get a return on your monthly payments when you're in the Combine. Anyone have any thoughts on this?