terrible metric period and I don't understand the reasoning for using it I find that quite often on my winning trades I reach profit targets quickly but on losing ones sometimes they just chop around and the trades drags on before getting stopped Why does it matter how long you hold the trade as long as you meet the profit objective and remain within the drawdown parameters ? The other problem I have is the % win criteria. I know a few traders who only average 30-40% win rate but are net profitable because they will enter probe trades and take many small losses controlling risk but when they finally hit it right the profit is 8-10 times what the losses were.
OK, here we go again. If you actually "read" the site, you would know that you need "2 of the 3" criteria. So while he did NOT meet the % winners criteria, he DID meet the avg win duration is greater then avg loss duration and avg winner is greater then avg loser. The website people, read the website! LOL. It's not like this stuff is in small print on some hard to find link. It's on the front page of the combine page! LOL.
They basically split you into one of two categories. If you are a scalper, you more then likely will have a high winning percentage but your average loser might be greater then your avg winner. If you are holding for larger moves, you probably get stopped out more and therefore have a low winning % but your avg winner is probably much larger then your avg loser. Most traders fall into one of those two categories. If you don't, for whatever reason....change it!!!!! Yes, they let you change all these numbers. Click on custom and you can see where the parameters can be changed. It's not rocket science guys.
Maybe you should read the website In addition to achieving the Combine profit target (Net P&L), to be considered for a fully-funded trading account, you must adhere to the following requirements: Trade only products permitted to trade, during the permitted times Do not hold a position into the electronic close of the product trading (recruits may trade overnight but must be flat when their product's electronic market is closed) Trade all required days of the Combine (10 or 20 days, each to be completed within 30 or 60 calendar days, respectively) Always use stops with an open position (auto OCO recommended) Overall Winning Day % of 50 or greater Do not hit or exceed the daily loss limit (NET P&L) Additionally, each product traded during the Combine must meet at least TWO of the performance requirements listed below AND have a trading average greater than zero ($0): Overall Average Win greater than Overall Average Loss Overall Average Win Duration greater than Overall Average Loss Duration Total Win % of 45 or greater If he did not even past the first requirements posted above to be funded then why is the second set even relevant ? Maybe this was a custom combine with only lower % requirement ?
Wait a minute, are you legally blind? It says he made money on 60% of his days. Did you see that.....60%!!!!!!
Gotcha This answers my question about getting backed if you have a lower win rate. Thanks for clarifying about the average trade duration. I have never seen that metric even used til now. I personally would be wary of backing this trader due to the fact that 66% of the combine profit object was made on the last day. Interesting how the previous 9 days they only averaged 25-44% win rate and then hit 100% on last day.
Actually I would back him. His winners are three times as big as his losers and look at how fast he drops his losers. On avg about one or two minutes. I like this guy. Love the consistency and this is with Crude Oil!
OK, what's your percentage for backing this guy? Are you going into the "backing traders" business these days? Just trying for some comic relief my friend.... Don