Here are my thoughts on this. Many guys think trading is about making calls and predicting this or that or using some model. Trading, in my opinion, is really about simply executing. I mean a market can only do two things right, go up or down. So even an idiot has a 50/50 shot pre-commison. The hard part is actually executing a trade from entry to exit. And that is where emotion and control and discipline come in. I don't know anyone who fails at trading because they make bad calls. I think ET focuses too much on the "call" for bragging rights, but that really is not what trading is about. One needs to build a skill set to be able to execute flawlessly under pressure. Most guys don't have that nor will they ever have that. I think this combine gives guys a chance to build that skill. Maybe I do this. At the end of the 6 months, I still pick and choose who I want to fund. The guys who I don't fund, give half their deposit back. Of course then I have to take heat from the gmst's of the world who of course won't get picked and will start 15 threads saying I cheated him. LOL. TST is probably doing right by focusing on quantity and large numbers to spread out their risk.
Surf, you should pitch this idea to VN! He's got the money to do this and he would probably love the academic side of it by looking at traders and analyzing what works and what doesn't.
Hey Mav, Just curious for arguments sake...if the trader made 4K in ALL 6 months for 24K total...would that be all yours? or doest the trader get 50% from the get go? Personally, 2K daily limit too high for new traders with little risk management. Maybe some kind of "reward" or earning system...where if they are trading regularily and staying within very reasonable risk parameters etcc then they get to "EARN" more...maybe more in terms of daily loss limit or multiple positions or whatever...it seems there isnt enough consequence on the trader except they get pushed back to combine and you eat some losses.. The traders need to realize what you and them are risking and RESPECT The cash LOL LOL
Hi Mav, This is a very generous offer. I wish I cam across something like this years back when I was starting. Best of luck to you and your "younglings". Regards, redduke
The first 6 months is on sim! LOL I figure if they can get through this 6 month process, they should have the discipline by then to control their losses. Once they go live, it's real money and 50/50 split. I think 5k drawdown is fair. I'll give them three chances to fail. I'm trying to be nice by giving these guys as much rope as I can. Remove the rules and let guys trade how they want. Maybe I need to raise the 1500 cost to 3k. LOL.
Yeah, VN and another guy I know may have interest in such a set up. We will chat with VN and the other guy at the upcoming summit in CT.
i'd pay 1500 to sit next to mav for 6 months. and then you get to learn to trade too? shee-it, sign me up.
Oh the 6 months is on SIM...thats a completely different story. the obvious question would be even if you have lots of succesful people on SIM...once they go live you know for sure most of not all will not perform as well. What about 3 months on SIM to prove discipline...then 3 months live but very small trading size...just so they get feel of REAL money trading...and if they contiue to show strong execution and risk control skill then you give them more free reign.. Or just take 1500 bucks out of your pocket and put it on double Zero on roulette...probably same chance as you making money on combine..LOL I agree with you about trading is in large part execution...need to have some skill and feel for the market but ya discipline is wayyyy harder than anything else....overtrading was my weakness...out of boredom...trading is a boring job...but tends to work out the more bored you are the better you will probably trade (less trading) oh ya!!!
LOL. I didn't say anything about them sitting next to me. If I have to actually listen to them whine, that's going to cost a little more.
Every industry has its "quantity" plays and its "quality" plays. If you think what you have to offer is a commodity (in the pejorative sense of the word), you go "quantity". If you think what you have to offer has some value-add, "quality" is the way to go. You're one of the few guys on this site who seems to have an "A to Z" buttoned-up approach to the markets, so you're ahead of the "commodity" game already. I don't know what TST is offering for their training, but I doubt it's more rigorous than what you do with your customized version of ACD. If your "combine" success rates mirror what Fisher claims when he teaches people ACD, I think the economics would be in your favor, assuming that you forced people, at least a certain percentage of the time, to trade using a methodology you approved, rather than just their own.