May 2018 results were not what I expected I took about 62 trades had a 1.5 profit factor. I found that part of my rational for switching to NQ was faulty. I thought that I was losing more trades in ES that somehow were going against me after being 3+ points in profit I only found 3 trades were I was over 3 pts and resulted in a loss. I may try ES trades again my issue is the slow nature of it. I was really looking at ES partly as a trigger to take NQ trades anyway. Things I need to work on are continuing to trade after having a winning trade. I stopped doing the combines as a way to test my trading technique because it was not working for me the daily loss limit of 500 in topstep is more than enough in reality you should not go anywhere near this in my live account the largest draw down i had was 250.
Hello caacapital, I am also preparing for the TST combine, 30k account, with 500 daily loss limit. 500 is enough for me as well to withstand 2 losses in a roll. My goal is to make it to funded stage and make $5k on paper, before signing up for the Combine again. So far in my paper trading i am in the funded stage with $2400 profit. $2600 more to go, and I start paying for monthly combine. Things I need to work on are 1. Making better decisions when to take profits. 2. Pay attention and stop missing trades.
TST can probably help with testing a strategy but the max drawdowns are purely based on how well your strategy happens to work in the current trading environment. I wouldn't spend more than the amount you will be funded after that your losing money to trade in a simulated environment even if you think your treating it like real money your not.
Are unsolicited comments welcome, here? For the sake of $15 extra on the fee, I think it might be well worth taking the $50k Combine instead and trading the same position sizes that you were planning to trade in the $30k Combine. It will take you longer to pass it (obviously ... but that's not relevant, if you have a genuine edge?) but having a $1,000 daily loss limit instead of $500 must surely significantly reduce your chances of having an accident? I think most people who fail Combines do so because they inadvertently hit the daily loss limit.
Thanks Xela, I have been recently thinking the same thing after some planning. If I decide to scale up to contract size, that 500 daily loss limit will prevent me from scaling up. And you are right. I fail combine twice in the past cause of inadvertently hit the daily loss limit and not paying close attention. It will take longer, but as you said, if the edge is legit, then time shouldn't be a concern.
Thanks caacapital. That is a good comment you made. Let me sure I understand your logic. So, the funded amount is $2K (the drawdown limit of the $50K combine), if I spend more then $2k trying to get funded in monthly fees, then I am basically losing money, correct? But if I get funded in like (for example) 4 months (that $660 in combine fees) and continue growing my account in the funded stage, then that means the plan worked out well, correct? Thanks, it makes sense now. Atleast I know now my limitations.
I would respectfully suggest using the $50k Combine and NOT scaling up the position-size from what you'd have used in the $30k Combine, otherwise you just lose the benefit of the daily loss-limit being so much larger in relation to your trade size ... "My case rests" ...
Then why would TST even offer an obviously inferior alternative that is only more likely to make the trader fail to maintain the essential criteria? To appeal to the frugal daredevil contingent? Or is it a marketing play to make the $50k alternative that much more appealing in contrast?
Thanks Xela for the comments. I agree with you. So, I was in the 30k combine trading 1 contract. My average loss per trade is $200. I average about 2 trades per day. If all goes well and I get funded and I make about $5000, I was planning to scale up to 2 contracts. With 2 contracts, this means my average loss per trade will be about $400, and limiting me to 1 trade per day due to the $500 daily loss limit. This was my reasoning for going to $50K account with the $1k daily loss limit. But I do understand and agree with you said above.
LOL! And if they offered only one, then you'd say "Why don't TST offer anyone any choice about what position sizes, targets and drawdowns are allowed in the Combine?". Some people trade things like NQ/RTY at $5 per tick while others trade ES at $12.50 per tick: people paying for Combines might be grateful for some choice, and might find having different sizes available in the Combine an advantage.