Absolutely agree on risk. When I say over 20% consistently it's assumed by default that maximum PTTDD never exceeds that same 20% as well (actually I have agreement with almost all clients that if we ever plunge 30% then just say good bye for a whole program as flawed and failed). I didn't even mention that, because I am generally very risk averse (have never blew up really) and it's like common sense that returns only make sense if your actual draw-down is correspondingly adequate and not outrageous. As for hindsight vs. reality, here I tell you that you can always try and see for yourself. Never hindsight, only brutally real, as real as it can ever be - actual executions on actual live account with futures clearing firm opened in your name with full access to statements/reports etc. So if you ever decide you want that proof, just let me know.
Holy Smokes! just got back from the beach, and am quite surprised to see the DJIA to have pushed close to our top call of 15542---I have learned not to micro manage or even watch these longer term positions play out--- as it does zero good--- will close this long if 15542 is hit------ surf
He is an excellent trader, no doubt-- but he is taking risks to produce large gains. Don't kid yourself. I agree, with prop firm leverage and prop edges it can be done consistently-- but still, not without equal risk---- i am talking about at home, non firm affilated traders when I state I have never seen it and don't believe it. surf
I think you got the TA boys for company on this one. Don't worry, we won't hold that against you. http://www.futuresmag.com/2013/05/2...utm_campaign=FUT_eNL&_LID=276018&t=financials
So far no TopStep success stories of the caliber you are looking for. They reportedly do have some profitable traders--- but none yet in the six figure or high five figure earning categories. Their target demographic is the at-home non firm affiliated traders you speak of, so this is something to keep an eye on as it gives some real world insight into how doable a goal this is. As you know, anonymous internet claims are not always reliable.
No doubt they have profitable traders---but I doubt any are earning 20% or more overall annually on the alloted capital---- has anyone on elite actually earned a funded account from topstep? I know NONE of the big mouth TA dreamers were even brave enough to try---- all i heard was excuses. surf
I do know it involves not using stops to obtain maximum performance of any system--- therefore when i hear about stops and big returns-- I know its a false belief based on quantative studies indicating the opposite--- This is what i call "feel good" trading philosophy absent of proven evidence. It is very dangerous to rely on feel good ideas when in the market. No, the facts prove this to be inaccurate. While it sounds good and smart, research proves it not to be true. My old firm studied a sample of 200,000 trades using stops at 1%, 2%, 5% etc and at every stop level, the percentage of winners decreased and the the expected return dropped --- How do you justify your statements when quantative facts reveal the opposite? Stops basically guarantee that you WILL LOCK IN LOSSES-----nothing more. surf