I think there is one point we might have missed : it is actually investors - not TST- that have the final say on putting the money behind a trader. Now, with my own trading experience, it is clear that I too would have asked another combine , just to keep my money into the safest hands as possible. When it comes to professional gambling, I can do that myself.lol.
I am no gambler, Smallstops. Combine was very consistent and I used 1-2 contracts all the time, even reducing position form 2 to 1 contract after P&L stuck for a week. I was pretty emotional the first day. In hindsight I realize I should have made a bit higher target so that would be no chance for small slippage take me down below target. Hence I am targeting not $1500 now but say $1600-1700. It is pure psychology. Once trader targets lower goal and achieves it it might influence his behavior and undermine effort put up to the point. Cause really put so much efforts into my trading I was thinking 1 tick short of goal would not impact Scouts decision. so, I was wrong and will learn this lesson.
It is actually questionable if they have more than 1 backer, since it is a rather small (about 1.2 mill) capital that is required to back their 40 or so live traders. But this whole situation could have been an excellent PR for TST. They should have said: "Generally we stick to the rules, but because Shiko has been Combining with us for 2 years and he has showed constant development and improvement, we will make an exception in his case and let him do the LTP." And they only needed to issue this when/if Shiko passed the LTP anyway...
He has showed persistence and IMPROVEMENTS. When he passes the combine with flying colors, then this will boost his innate sense of trading ability, and I would not be astonished that once he has been given a live deal to sign, he were to use all his history and documented records to land a much better deal that TST. He has all to gain - trading wise - in redoing a combine
You can ask for the rules to be "bent" by requesting a custom combine, which could include a lower profit target with some of the rules being modified. Shiko2000 did the standard combine and agreed to the terms, one of which says the profit target is $3,500. When reviewing your combine stats, these factors have to be considered: 1. Did you add to a losing position, on ANY given day, before your combine net P&L was at least $2,000? 2. Did you add to a winning position on ANY given day, without first being up $500 in NET P&L? 3. Did your drawdowns remain under a WEEKLY loss limit of $1,000? (which means the average daily loss within a week should have been $200/day). If any of the above rules are broken as a Junior Trader, according to TST's own website, you will be sent back to the combine. In other words, it doesn't make a difference whether or not you can pass a combine or qualify for a rollover "by .033%" or "with flying colors." What matters is whether or not you can trade within the additional rules of the funded Junior Trader account until you meet the profit goal, which is $2,000 on the 50k account.
It's good that you had a consistent combine and you're taking a rollover. As I've posted before and on the other thread, see if you can pass the combine within the additional rules imposed of Junior Trader, since that is what you'll have to follow when you're funded. Best of luck.
Their site doesn't specify the lowered profit target of the LTP. It also states that not everyone has to go through the LTP. As the op stated, you trade the same product(s) in the LTP as you did in the combine. Remember, if the goal is to actually get to Senior Trader and take a withdrawal, then the ONLY rules that are relevant are the ones in the Junior Trader funded account. That is the main hurdle to overcome, not the combine, and not the LTP.
Thank you Scalper Joe, 1. Did you add to a losing position, on ANY given day, before your combine net P&L was at least $2,000? No 2. Did you add to a winning position on ANY given day, without first being up $500 in NET P&L? I traded either 1 or 2 contracts going all in. I only once set a filler 1 contract and then seeing everything ok added one more at same price with limit order. 1-2 contracts is what I am trading. I am not adding nothing. all in. 3. Did your drawdowns remain under a WEEKLY loss limit of $1,000? (which means the average daily loss within a week should have been $200/day). Since November my max DD was around $1000 and it was made within 2 not one weeks so no weekly limit. I already know Jr Trader rules and trading along them. even asked for news schedule to avoid getting stuck before news releases.
You are basicly making my point. If the Combine is really just the first interview in the application process why does 0.033% difference matter? Of course it does not... ------------------------------------------- It is kind of interesting that another company is using very similar or even stricter numbers. Looks like they are not into getting traders to work for them either...