Don, with all due respect.... I know a bunch of locals who were down there back in the 90's/early 2000. The SP pit was dying back then. The SP pit is now completely dead. Nobody trades the Bigs anymore. Did you notice the volume in them today? Looks like to me 1340 cotracts. There is no paper there. Not sure what value Ben has anymore. Unless he is can see what all the big players in the Emini are doing (which he can't).
There is no value in it period. Where there "is" some value is most of these guys have transitioned into a real time news service so they will chat about rumors in the news or remind guys that home sales are coming out in 2 minutes or the overnight low in ES is 1425, etc. They just provide general commentary. Nobody gives two shits anymore if Goldman is buying paper. Hahahaha. I think Don is just nostalgic.
Some of us get it. Mav has it in reverse. The purpose of doing the combine IS to get funded, becoming a discplined trader and not having to put up your own capital is the byproduct. Imagine this model: TST provides a sim account, charges a fee, and allows you to become a discplined trader by setting parameters through the combine. At the end of the combine, you get an evaluation and feedback, but NOBODY gets funding, it's simply an education and training program. Even though the success rate of passing the combine may be low, traders take the combine for the opportunity to get funded. Indeed, look at the following bullet points and bolded text in the link: http://www.topsteptrader.com/fundedtrader If this page was nonexistent, would there be a dropoff in recruits, yes or no? A trader can sign up for various free sim accounts to practice their discipline, and doesn't need the combine, UNLESS they want the opportunity to get funded.
Joe, you are missing the point. Have you ever played football? If you play football not to get hurt, guess what, you get hurt! The goal for every trader doing the combine should be to become consistent and to perfect a process that they can repeat day in and day out. If they do that, they will get funded. Maybe not today, maybe not tomorrow, but they will. If you simply focus on passing the combine you are going to develop bad habits and trade scared. CTD was a perfect example of this. You heard what he said. He said after he was down after 4 days, he did the math and the only thing he could do was take big shots. Now explain to me with that attitude how that guy is going to develop good trading habits. See Joe, here is the problem. If getting funded was the be all end all, then why are so many guys getting sent back to the combine after they go live? It's because they have NOT become consistent. Who cares about passing the damn thing if you are going to manipulate your trading simply to pass. They are going to cut you off fast. You're never going to see a check. You are not going to profit off of it. So what's the point? You might as well focus on becoming a good trader. That way when you do go live, you'll be able to stay there and get paid!!!!!! Honestly it's no different then lying to a girl to get her to go out with you. I guess if you just want a one night stand that might work. But if you actually want have a real relationship with her, lying to her and telling her you a big time lawyer that makes 500k a year when in reality you work at Subway and live at home with your parents is not going to cut it. You have to look at the big picture. People spend so much of their time in life looking for ways to cheat the system or get the quick score. But it never lasts. One should focus on becoming the best trader they can. This way even if they don't ever get funded, they can fund themselves with the confidence of knowing they are a good consistent trader.
I hear ya Mav. But anyone who is trading everyday should know when econ numbers are coming out or what the overnight lows in the markets are. Why pay someone to tell you the obvious. My buddies who were in the SP pit used to say that everyone just stares up at the screens above the pit watching the minis trade on TT. I hear ya on the notalgic stuff...I miss those days....but they are long gone.
For the love of Laplace, please stop bastardizing probability theory, to try and justify your shitty performance.
I am inclined to agree with Mav. Some can be disciplined enough to pass a short term combine, but forced to do it again, their real tendencies take over and they lose big, leveraging into losing postions, or just committing failed trade after trade. I think this is where the program Patack is offering is a great idea, yes, I said great idea. It filters out those that can trade for a month or two, and then revert to failed habits, and usually on a regular basis. I have been through too many failures. I make no claims of genius, but I seem to at least for the past 5-8 years figured out this thing. My income varies yearly, and I like the idea of spending a pretty small amount of money to make adjustments, whle still making money on my bread and butter trades. I guess I don't see any obligation that commits you to them if you think you have a "guru" concept. I am pretty sure I am golden with what I have, but I am willing to consider splitting my future changes until proven, and then I can take them for myself, and walk away, or negotiate a better deal. I maybe missing something, but seems like a pretty good plan for both parties. At the same time never hesitate to ask for better. I think Don has mentioned numerous times Bright will work with people with a recrod, and I would bet so would Patak. Make money with no risk to you other than sharing profit. That works for me to expand my trading.
Geez, that is just a terrible comparison. Let's see Megan Fox, whther she is surgicall modified, or not, and Rosie O'Donnell, which their is no surgerical hope of improvement. UGGGGGGG
I'll throw out there, if this combine can be put off for another 2 weeks I'd be willing to join. I could probably jump in earlier, but would prefer the 2 weeks to settle some positions and make it my unique focus. Otherwise I am willing to be faced in the future for an ET combine. I'd be willing to commit 2-3 weeks. I tested the Cunningham platform and was not happy with it, but for means of s competetion I'd put it up on one of my computers. Actually I thought it was pretty sad overall.