Hello everyone. I am not new here, I've been around since 2012, However I took a break and plan to come back. In order to warm myself up I've decided to sim trading a little bit. I know it's not real conditions, it's a game more than a proper venture. But I don't have lots of capital right now. Everything is in Crypto ... XRP I've found this platform provided by TopStepTrader: TSTrader. It has the basics. Don't need more. DOM, Histogram, Ticker tape and a nice report. I've set up a bracket order: 4 ticks SL and 8 ticks TP. Curious about the win rate I can achieve. The account has 150k virtual money, I'll risk 0.005 or 0.5% per trade. Here is today report. 1st. Sell. Ok. 2nd. Buy. Closed because support breached. 3rd. Sell. Ok.
Update : 1st. Sell. Ok. 2nd. Buy. Closed because support breached. 3rd. Sell. Ok. ... 4th. Sell. Closed 5th. Sell. Ok
Update : 1st. Sell. Ok. 2nd. Buy. Closed because support breached. 3rd. Sell. Ok. 4th. Sell. Closed 5th. Sell. Ok ... 6th. Sell. Closed (Removed Stop O..O, Closed with 7th) 7th. Sell. Ok. Edit: Actually trade 7th has been declined as I was full live contract (15). However I did set 30 contract to close. Therefore I went up 15 contract .... F*ck. Took small profit. Didn’t even know I was long 15 contracts. That’s the kind of mistake to blow your account.
Awesome Sekiyo, great work. I am at TST as well, in the $50K virtual account. How many contracts do you trade per trade?
Thanks Are you passing the exams ? I am trying it for free for the next 2 weeks. I haven’t paid anything yet. I used 15 contracts per trade. Which is the 150K account’s max amount. With a 4 ticks SL it’s 0.5% Risk. 150,000/(15*4*12.5) per trade.
Good job Sekiyo, No I am still in the combine, phase 1 stage. But this is due to my own fault and progression. I will pass soon. I like TST good place and good support. The trailing drawdown for the 150K account is $4500, so you are risking $750 (15*4*12.5) per trade. So you are actually risking 16% of actual trading capital per trade, not 0.5%. I just wanted to state that part so you know.
Very true, indeed. I am out if I lose 6 trades in a row. Might trade less contracts next time. Target for 150K account is 9K. Could be done in 4 weeks. With 9 contracts. I’d then risk 10% per trade. How much contracts do you trade ? For a 2K max drawdown ?
Hello Sekiyo, I only trade 1 contract, my risk range between $150 to $300 per trade depends on price behavior at the time.
You can continue trading 15 contracts if you are well disciplined and make no mistakes and understand the risk. Do you use limit orders, in on retrace.
@SimpleMeLike Great move to adjust your stance according to price behavior. Might do the same but always with 2Reward 1Risk in mind. Because sometimes 4 ticks Stop Loss feels too tight. Wish you the best for your combine. I use limit orders to enter and won't chase the market if not filled. Sometimes I exit manually at break even (+1 tick) when price acts weird. But SL and TP are automatically set in place once I get in as per my defined setup.