For bragging rights, I guess. Too bad ER2 moved to ICE and it was never the same again. But it showed that austinp is dangerous when the market is "moving well".
If he did with real money I commend him. Do you have a link that represents that feat was accomplished with real money? I don't even ask for proof in the form of broker statement. Typically the cftc views omission of real money trading claims by educators as being hypothetical or simulator trading. Nothing wrong with that either, just looking for further clarification.
Even if that was true (and it is not) the TST Combine software won't allow you to trade the next day (more precisely it says Completed). Nevertheless Austin had Combine Trade reports after blowing it. Explain that to me...
Well, I just received a warning from one of the moderators about my posts, and some were deleted. You're probably right. Maybe it's a special treatment. Who knows?
1) You had better pray to the "deity of your choice" that you're piggybacking the right trader, at the right time. :eek: 2) There will be a lot of "pressure" if you don't.
Since he does not post on his website it should be assumed to be hypothetical or simulated trading per the standard disclosure. I would hope he clarifies it publicly for his students sake.
The risk and approach are really no different then just normally backing a profitable trader. Should I write a Piggybacking 101 for you? When you piggyback, you have more risk (depending on the leverage), but also more reward. You obviously start out slow and build a cushion first, you don't go 20 times more right from the start. Also not every trading style is a right candidate for a good piggyback, but I would say out of each 10 Live traders they should have at least 1. In case TST is NOT piggybacking the consistent swing traders, well, call me and I tell you how to make really good money. Here, I have found a good candidate without even trying. Their latest Newly Funded trader, Houston Rob. Why is he a good candidate? He is consistent, he keeps his positions for hours, (average duration is 8-9 hours), he trades a liquid instrument, and all his stats are in the green, with low DD. And he only trades ONCE a day! He only traded 5 ES cars in each trade. Why shouldn't TST put let's say another 25 contracts behind his trades? Then instead of making 380$ per day, they would be making well, you can do the math, 5 times as much and they don't even have to share it with the trader... (so they are actually making 10-15 times more, although their exposure was only 5 times more) http://i.imgur.com/7383mFN.png On his best day, Rob caught 21 ES points (per car) with 1 trade. Now that is the guy I want to piggyback with 100 contracts...
The thing about piggbacking is traders usually do not like that, and more often than not - even if there are other benefits - they simply avoid the firm and never recommend the firm to others. So if TST is in it for the long term , after all they can build up to fund million+ trading accounts down the road ( with 1000$ enrollment fees) , this piggbacking will be the end of their business, all the more than just from the DOM ( futures) a trader will sooner of later find about it. Then it will suffice of one thread and TST business model will be ruined. Just my 2 cents.
1) Oh my freaking Buddha....you gotta be kidding, aren't you? 2) He lost more than $900, towards a daily loss limit of $1000, six days out of 14. 3) Theoretically, he would have hit the weekly loss limit three times in his Combine if he were funded. He could be funded on Monday and unfunded on Tuesday if he continues to trade the same way. He's losing entirely too much on losing days. 4) On day-9, he held a position for ~6.5 hours and made 1 tick of profit. There's something "fishy" here. Why didn't he earn ~$1200 or lose more than $900 on that trade? 5) After 12 days, he was down ~$1300. On day-13 he had a MASSIVE gain and a good gain on day-14. 6) For the umpteenth time, I hope the guy can make "Texas-size" money when funded but there are a lot of "buts" that cause me concern.