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I think I am missing something here. Can you futures guys help me with the terminology
1 car = 1 contract = $12.50 per tick ? or not?
So Thurs Jan 12th earned $2015
which then equals with 1 contract 2015/12.5 = 161 ticks if 1 contract
but this says 230 contracts?
230*12.5= $2875 per tick buying power?
so around .7 tick earned to make $2015
Decimal error?
please explain
thanx
“Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.” - Dr. Seuss
If he traded 230 cars it means he traded 230 lots, 230 contracts. He made $2015, so 2015/230 = $8.76 per lot traded. $12.50/tick on ES, so 8.76/12.50 = 0.70 ticks per contract traded on average.
I recently tried the 2-week practice at TopStepTrader. Maybe I'm just stubborn, but I just couldn't seem to adapt to the trading platform. It seemed really clunky and wasn't intuitive at all, and I felt like it would take me so long to enter my trades and set my stops that I'd miss part of the move I was trying to catch. I only sat in on a few of their training sessions; each one had a heavy emphasis on Market Profile. I'm not a fan of MP so I was a little disappointed in that. But overall I think it's a good company with a good environment, and if they would just upgrade their platform I would happily sign up for the Combine. The opportunity to trade with someone else's money really changes things psychologically! It's also a wonderful opportunity if you don't have much trading capital.
I've tried the combine. Yes, I think they like the scalping route, but they do not dictate how you trade. You are free to use your own method. They do like to see some consistancy, so if you trade 15 lots (5 trades 3 lots ea) one day, they like to see similar numbers on following days. In other words, not all over the map with 15 one day and 50 another. The platform is terrible in my opinion. Not sure why that is what is considered prof, but I did not like using it.
T4 is a good platform, at least if one is stateside. If one does not like the interface, one can wrap Sierra Chart around it. That will be similar to using NinjaTrader.
The reason for using T4 is probably because it is the cheapest, stablest platform that has spreading capabilities. Most professional traders are spreaders.