The trailing max draw is more important than the daily loss limit, since that is factored over the entire combine period. So you have to personally lower your daily loss limit well below the maximum in order to account for the trailing max dd. Also, the 50k and above backed account (until one gets to Sr Trader) imposes WEEKLY loss limits as well as the trailing max draw, so you have to always monitor the daily draw to ensure it is much lower than the allowable amount.
I guess you was meaning daily loss limit is more important. Cause hitting daily loss limit means lack of discipline while hitting trailing stop in most cases just means things did not go well on certain Combine. I am trading $30K so there is no WEEKLY loss limit. It is for accounts from $50K and above. So, I am still within Jr. Trader parameters but yes. I have had issue with further reducing my personal daily loss limit which was within $500 on my previous $50K Combines. I am currently working to trade within $295-310 daily loss limit or 2 losing trades a day. But, I can lose only 2 trades a day since now on in any sequence. If I lose one then win second and lose third I still stop trading. So, I have overall 2 losers a day limit or $310 max. Need to program myself into lower daily risk.
were I to follow fund my own account path and trade $6000-7000 I would have to keep daily loss limit within these parameters and it would be the most important thing along with daily profit target after which I stop trading as well. i do have daily profit target. It is $300-400. Whichever hit first. Risking say less than $300 a day on funded account say $285-295 would allow 6 losing days in a row to hit trailing stop. If plan is followed it not very likely.
All in all, when I finally get funded, I will follow exactly the plan I am trading with all limits but will not reduce my trading contrary to the plan to just hang in there. i am in this to make it big with excellent risk control, discipline and consistency. On the other hand I do have time limit if I am not funded by then I will open my own account with exactly same broker as TST.
I can tell you are being very sincere. I appreciate that. Thank you. You really need to be reading between the lines here. I would never violate my contract. Period. 100k is only significant because I think it is. I would like to turn 0.00 into six figures on public record/with a prop firm. Just a personal goal is all. The minors comment made me chuckle only because we dont know each other personally. If you met me and we shared back stories and history you would chuckle as well. Good trading to you!
Ive had a full time career for the last 18 years. It allows me the full flexibility to pretty much do what I want as long as it gets my attention when required. Its rewarding financially and psychologically. I can undertake lots of projects, tasks and consulting gigs to add to my income with no worries at all. I am a very lucky man in that sense. Yeah I get that. Im a grinder in the full sense of the word in relation to trading. If I blogged my activity here it would get no reads, It would be so f`n boring... im not a get rich quick guy. My methodology scrapes small bits. And I trade about every two days on average. One trade a day only 90% of the time as well. Boring as heck...
Actually, I wasn't clear in my post. What I meant to say is the daily loss limit imposed by TST combine is WAY TOO HIGH when you factor in the trailing max draw. In other words, if you take a hit near the daily loss limit on any given day, then it's very difficult to play "catch up" given the trailing max draw. And you're correct, only the 50k and above combines have weekly loss limits as a Jr Trader. So for example, the 50k Jr Trader not only has a 1k daily loss limit, BUT ALSO a $1k WEEKLY loss limit, which means you must structure your plan to manage risk with an average $200/day loss limit PLUS incorporate the trailing max dd. In other words, the "1k daily" is rendered irrelevant, since if you go near it, even for ONE day, you run a greater risk of being sent back to combine.
One word to describe your response, CLASS ACT. (Ok 2 words.) Gracious, humble , civil, very rarely are those words used on ET, hats off to you Crispy.
TST daily loss for $30K account is $500. $200 daily loss limit is not reasonable for me. Too low. i am not going to use too small stop losses which are simply a food for algos. I have been there trying to trade with 6 ticks stops. While it might work but it is very stressful, losing trade doe snot mean I was wrong. In this case straight idea of R:R ticks wise is a fallacy. My trading grately improved after I increased my stop without increasing my profit target and keeping same trade management rules. So, as I see it. My daily loss is within $300. $310 max but I can get it withing $295 including fees. For example, once I met all requirements and get live funds I have $1500. so, if I keep my daily loss within $295. I have 6 straight days to trade. As $30K account trader I do not have weekly loss limit. From my trading and back testing it is very unlikely if I follow my plan including trade management plan I will lose 6 $295 days in a row. $200 is definitely not a reasonable limit for me.