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I have done 3 personal 150K combines (myself only with the same restrictions TST has) my question to you is: lot size do they look down on averaging trades?
I would like to say too that the time factor was the number one disciplining factor for me. I wish to share the 20 days of my $150,000 combine to demonstrate how I held on to a loser for SIX HOURS (check day 2) in a bid to 'make it a winner' and finally had to cover well before DLL:
I am not ashamed to post it now because I have made huge improvements to my trading post such mistakes.
P.S.: I am not attempting at 'recovering' the stats for this combine anymore.
Good job here! I think one can safely estimate a time limit for a trade when to kill it based on collected stats. So it's not only a limit in ticks but in time too. If you trade usually the same market state and session, stats can tell you a valuable story about your average win and loss duration and what can be expected and when it is usually good to put it to down.
I can tell you for sure they will fail you in LTP or JT is you add to a loser, there is a clear requirement not to do that. So even if you complete a Combine this way, they will ask you not to do that in next stage.
I think they are happy with you trading less contracts than maximum allowed but at some point if you trade well they might ask you to take more risk on if you see you are too risk averse. This is something I have heard from others.
I started to trade my practice account today, trialing my new strategy that takes advantage of failing order flow near the key levels. Please find it here:
Today I have traded my new practice account at TST. They encourage to use this account for testing and development but urge still to treat it like a live account to avoid any bad habits. I fully agree with it. Shooting trades from the hip in demo makes …
Generally a very low volume day, lack of participation, the strategies I tested require more normalized trading activity thus did not work. Still I could get a couple less losers in the beginning of session by applying filters. However losses will be ever present, so the question is not how to minimize them by any means and costs, but how to still take winners. Some of my break even trades could be winners. Since I target minimum 3:1 reward to risk, perhaps I should concentrate not to pass on a winner instead of protecting trade by any means. I will test a time based break even approach - only putting to break even about one minute after, if price action remains in the region of entry - move a limit there to get out. If price action moved away - do not put to break even until one test of the entry. If price action moved away to profit - look for potential scale-in entries, and prace original stop where I would place a stop for a scale-in entry. This won't work for 15 ticks profits, but I plan to capture much larger runs like 30-50 ticks too. For 15-tick profits only use break even as per rules above, because I will get stopped out of many profitable trades.