What an interesting thread. I appreciate the input from guys with industry experience. I wonder if it would be possible to also share some stories of traders who are successful, as opposed to hearing about all the losers. Any stories of retail guys with consistent success in the current era?? BTW - especially shocking story about the 20 traders from the forum!
And here you have it: Read my post above and then take a gander at our new contestant for TST. You can't make this shit up. I almost think it's Volente trying to pull a prank.
Mav: <i>Even our resident active TSTer Austin has made this comment time and time again. Now while it's true these traders also broke TST rules (usually violating the max intra-day drawdown) the fact that they couldn't even follow their own self imposed rules tells you a lot about the type of person doing these combines. </i> Me: you simply don't listen and comprehend, or you purposely choose not to comprehend. It is one or the other, because there ain't a third choice. Now I'll repeat myself one more time, just for you, because I like you... The only combine "rule" I ever broke was exceeding the max draw while trying to qualify for the artificial, not-part-of-funded-trader criteria of reaching x-number minimum profit inside 10 traded sessions. That's it Mav, the only one. Am I any clearer on that point now than the past 57 times I said this already? Me personally? I didn't do a combine to test myself, see how good a trader I was, see if I could win a game. I entered to see if it was feasible to be funded in reasonable fashion. I concluded that under the current parameters, it fails to meet my criteria. Matter of fact, it appears the same is true for however many countless applicants who've paid their fees this year because you don't and I don't see any "look who's funded today" emails from TST lately... only a slew of sales oriented emails frequently. Including today. Now I'm going to reiterate this fact... and it is an iron-clad, take it your personal bank fact: if TST eliminated the minimum profit mandate in limited window from their test, one helluva lot more traders would stick to their plan. Including me Are we clear on that fact now? Or should I copy/paste/save this to repost at some point soon to come again?
As whippy - choppy - spiky - slappy as the Russell 2000 futures were today, I did just that and it all turned out just fine. When such things are chronicled in real-time on youtube verbatim like today was, that is the real shit which cannot be made up <grin>
Austin, did I say anything different? I said you repeatedly violated the drawdown limit and you did and re-stated that above. I also said you did not stick to your plan. And you stated that again above. These are the only two things I said about you and essentially repeated them above. So what is the problem? Those two issues ARE I repeat ARE the reasons why guys are failing. They are violating a drawdown limit which THEY have control of and they are NOT sticking to THEIR trading plan which THEY also control. Austin, there are a lot of variables in life and in trading in which we have no control of, endless variables. There are a few, and I highlight that word, few, which we can control. If you fail to control the few variables you do have control then you are basically conceding you have no control. How many times do I have to go over this. You basically made my argument for me. Not sure that was your intention. But it helped shorten my post so thanks.
You obviously do not know what that term means mathematically speaking. But I don't hold that against you. I think less then 1% of the people here do.
NoDoji is the 1% of traders who actually make any money. I believe her preferred term is Master Trader.
Because they prey on fear If I am up 8 k in the largest combine and I drawdown $1001 that does not mean I am a bad trader. If you look at the drawdown allowed per contracts through out the different combines, you will notice they choke you on risk if you want to do the larger combine, lowest allows you 3 contracts and $1500 so $500 per contract Highest allows 15 contracts or $4500 so only $300 per contract risk If you are trading 5 times the size of the lowest combine then why is the risk not $7500 on the largest ? Why are these parameters so out of whack ? The same exact thing with the profit targets It's $500 per contract profit avg on the lowest and jumps to $700-$850 per contract needed to pass on the rest. And why in the hell would a person choose only 10 days over 20 with the same objectives ? It's ignorant choices available like this that make no sense at all
vol: a 20-day combine is nearly 2x the 10-day profit objective. So that's a push mav: I'm a lifeling football fan... so let's use this analogy here... What if the NFL combines that measure college prospects for the NFL draft had one rigid stipulation: in order to be considered eligible for the draft, you must be able to run a sub 4.4 forty yard dash. All the other agility drills, bench-pressing, throwing, catching don't matter if you cannot complete a 4.3s - 40. Once you accomplish that, then and only then are you eligible to be drafted for the NFL. You can have umpteen rollover attempts to make that speed in a race, but you cannot advance to the NFL unless you make the minimum speed requirement. Once you pass that and reach the draft, no further 40-yard dash times matter when trying to qualify for an NFL roster. That speed stipulation is for the combine only, not the big leagues where life gets serious. ** Are ya with me now? That's the same exact thing as TST's combine parameters today. Now let's make a short list of NFL players who could not even run a 4.4 forty let alone 4.3s Joe Montana Jerry Rice Emmitt Smith Reggie White John Elway Dan Marino Lawrence Taylor Steve Young Warren Moon Ray Lewis Now there are some pretty decent NFL players on that list who helped their teams for a long time in the big leagues. But none of them, not one could pass the NFL combine with a red herring stipulation of time & speed test that does not matter once they reach the real games. Capiche`?