Austin: " The same thing CANNOT be done in sim mode where frustrated traders can simply waive their magic wand, hit reset and pretend the failures never happened." The same thing can be done at TST using the insta refill feature. It costs you $100 I think but you can keep doing the same losing trading with renewed sim capital... Quote from their website: "You may reset this account at any time for $100 by clicking on the "Reset" button on your Trade Report. This will reset your account balance and rules, but will not affect your monthly payment schedule." So how does that teach you establishing good trading principles??? As usual, I wish you profitable trading, but let's not spread the male bovine manure too much...
TST refill costs -$100 lesson. There is a finite number of those any trader can hit. generic sim reset has no consequence... can be done virtually forever, no lesson learned other than maybe bad habits = no pain?
It really takes me a lot of time to scan this thread. 173 pages! Oh, my god. But I love it. Keep it alive.
"Oh, my god. But I love it. Keep it alive." Seven of the minimum ten (max sixty) days completed in FTP mode... all necessary parameters to qualify now exceeded. I'd like to wrap with all ten net profitable just because who wouldn't, but now it's merely a matter of time. FOMC sessions along with a mini-vacation this week leave me three sessions to work in, which will be just enough to finish the test.
I can't find any announcements (nothing on their blog), but I notice that they removed their withdrawal wire fee, and now it seems that you keep your first $5K before the 80/20 split takes effect, regardless of how many withdrawals you split that into. (It used to be only the first one, up to $3K I think.)
No, the combine doesn't teach you a profitable strategy, but it DOES teach you risk management, which is the crux of any trading plan. Although I wish this trader the best, it is unlikely he is going to "generate profits for them." Only the 100k/150k combines have the highest odds of generating profits for both the firm and trader. Simply extrapolate the data from the combine, and you get two numbers. Take the first ten days of the combine, the net profit was $254. Take the average of the entire combine, the daily P&L was $57. So his expected equity cushion in the first 10 days of the live account is between $254 and $570. How long do you think a trader will last with 1 lot of crude in an AMP account with $254-$570 of equity?
Nice going on the FTP, if you can get the same $301/day for the first 10 days in the live account then at least you'll start with a semi-decent cushion, even if you start with 1 or 2 lots.
Yes, however Lescor had enough EQUITY to absorb losses on the losing days "in the real trading world" to continue trading. It's not the "exact same process" when you'd only have TEN days to build up the cushion with TST. If you want to compare Lescor to TST, then you have to compare their starting balances, and then determine the draw in percentage of equity.
Austinp : first well done to have gone through the whole process. Whence done, seriously, do put in big on your vendor-educator website that you have passed the Combine, and bla bla bla. Just this should boost your business. I am myself will be restarting one, now that I have done a 7 days meditation, and have worked a bit about why I had "difficulties" respecting daily limits ( always going over the daily limit by 1 or 2%!!!)