Mav should do the Combine. It will speak volumes re: Combine. This is the most interesting post re: TST. Mav, please do the Combine and show us how a professional trades and demonstrate the value of the Combine.
Pay sux. Slave labor. Wages withheld. Maybe they will close shop one day suddenly and run with your money. Who knows. Lots of things can go wrong.
What isn't known is the amount of intraday swing of P&L within that last day, and if they added to a losing position to meet the profit objective. However, trading in the combine allows for more leeway than trading in a live account. For example, the trading plan (which a live trader must follow until they build the 5k cushion), does not have any profit objective, but it DOES call for additional metrics (30k/50k accounts): 1. NEVER add to a losing position 2. ONLY add to a position if my Net P&L is GREATER than $500 3. I will stop trading if my Net P&L is greater than $500 or my net P&L has pulled back ___% off my high watermark (Realized net P&L high of the day). Pullback should NOT be greater than 50%. 4. I will never enter a trade without having a stop in place 5. When my trade goes in the money by ___ ticks, I will slide my stop to breakeven at the least Now, go over the funded reports again, and pretend if this trader was live and had to follow ALL of the above rules, would they have passed the combine? I'll bet the answer is 'NO'. These additional metrics will defintely add to a trader's discipline, but makes it more challenging to make some "real money."
1) 1, 2, 4 & 5 should already be incorporated into one's trading method. They shouldn't be thought of as additional guidelines. 2) I don't agree with 3. I'm not sure if I fully understand the first part of it.
if funded it protects the backer,it also increases the chance of the combine player failing,ka ching,it's not trading ,its slavery
Corrected. Of course. Nothing wrong with these rules and the trader is free to disregard them after earning a cushion of $5000 dollars, right? Show that you can manage risk and after showing you can earn money, do as you please? I honestly don`t see the problem or what people are bitching about. If people want to average down and lose, they can do it with their own money. The reason you don`t agree with or fully understand rule number 3, is because ScalperJoe is quoting it WRONG. It states that if you`re up $500 (or more) or $1000 (or more), depending on account size, you will STOP trading if your equity goes below the 50% high water mark. Example: I`m up $700 dollars on the minimum account, but if I start piling up losers, I will quit trading if I go below $350. However, I can go from $700 down to $500 and then up to $1000, as an example. It`s a defensive money management rule and I`m sure I`m not the only one who`s been up a great deal of money for the day only to waste it away and have a red day. I think the rule makes a lot of sense, but again, traders can disregard it after they`ve proven themselves, but most would probably be better off following it. Hell, I should get a free combine for all the time I spent clearing up the rules for TST. You reading Michael? Not my fault that people don`t know how to read or assimilate information.
Changed my layout around a little to avoid doing what I did yesterday... Despite making +$400 I feel that I wasted a day... I'm going to be in practice today (not in Combine)... And I'm going to stay there until I hit a $1000 winning day... Still trying to answer 2 questions... 1. Can I still scalp/trade short term...? 2. If I can't is it me or is it that the market no longer permits this...?