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Trader 1034. Good luck with your combine. I am a master at trying and blowing Combines.
I have been trying to pass the combine for 12 months. And have ressetted my account like 20 times. So trying to pass the combine has cost me more than $5K and hundreds of hours.
But honestly for me, I think this is the best way to really become a ProTrader.
During this past year and through my suffering and learning" I can assure that I will be funded by the first quarter of 2017
So I will follow your journal and add some comments
Thanks!! I worked on Wall St. for 8 years and left in 2010 to trade for myself. I've had fam ask to manage $$ but been very hesitant. Me taking the combine is primarily to see if I can manage others money under different rules. At the same time I won't turn down an offer for funding as it doesn't get in my way to put in another order on a different DOM. The combine for me is a one time shot. GL with your combine journey!!!
Bummer about that NG trade the other day. Safe to say you don't use stops?
Also, if you don't mind my asking, did you learn to trade your method while you were working on the street, or is it something you developed on your own?
I definitely use stops. In the morning I usually place a bunch of orders at levels I'm interested in. The only reason I'm doing that is to hold my place in line. Once the market starts coming up to those levels, I determine if I'm still interested. Once the trade goes off I usually have time to place my stops. My stops aren't a few ticks away like most retail trades so I generally have time to place them once in a position. NG was a sweep. Imagine if oil went from $53 to $54 in 30 seconds but not around the inventory report just randomly. That's rare but essentially what happened with NG. Someone came in and swept the book. Sometimes it's a fat finger trade sometimes it's intentional. The book was thin so it's easier to pull it off.
I wouldn't say I have a huge edge trading from working on the street. I think it's more the 10,000 hour + screen time that's way more helpful. I'd say what I got from being in the business is my style of trading where I trade like an institution would trade. But again that's not the only profitable style of trading. I know guys that trade only fib setups and are profitable. They become a master of whatever and just execute. You just have to find something that fits your personality that you can relate to. If taking 6 points of heat is not your deal some styles of trading don't fit. If scalping and dumping a bunch of trades that move 5 ticks against you is not your deal that won't work. Once you find what works it's basically execution. If I had to give advice, I'd say view yourself as a risk manager. The profits work themselves out. Also put in the time. This morning I'm literally going bar by bar from this week on replay. How many people are studying Saturday morning on Christmas eve? I'm sure this is going to sound funny but I feel like I have an advantage from playing poker. I've been playing profitably for a while and incorporate a lot of things into trading. Same with trading I keep journals where I can give you my hourly rate, what days of the week work, what stakes work, all kinds of data. I think anyone willing to put in the time and effort can find success trading. One last note. It's the hardest way to make an easy living.