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Alex, you know that I always appreciated following your journal as well as picking up the nuggets besides all the Combine and LTP stuff, which were sometimes 'hidden' between the lines...
So, IMHO No. 2 has been exactly the reason why you couldn't make it in the LTP and perhaps never will, presuming that you stick to Gold as your favourite instrument (because you really know the 'character of that beast').
You'll definitely do much better if you trade your own live account without having the rules, regulations and boundaries of the LTP which you'll need to follow, so don't be disappointed and resume trading your live account during your favorite session times...you'll certainly be much more satisfied and happier than now.
Just my $0.02.
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Thanks. I asked to start later but they said they can postpone just a little bit not by a month.
In combine you can trade gold very early but not in ltp or live. My main setup worked only once during ltp, on the first day, i was using latest version of sierra and cts rejected my order. After that my bread and butter did not come. I think I managed it fine even without it. I am sure I would have it made without a limit in 10 days with 50% minimum win days. Honestly I just did not expect such a move from gold today and was playing range
Thank you. I am happy it is of help to others.
I am not sure I want to trade gold at this point. It has changed very much since summer. I will look to trade it on exceptional days like today for sure or when I have a rock solid setup. Otherwise I plan to have Dax be my main instrument. Its better than gold and has two full sessions per day to work with. Crude can be an auxiliary trade as well.
I plan to publish my live trades and statements here publicly Don Miller style as race to grow my deposit into something serious.
I have not been able to keep up with your journal very well due to lack of time.
However, unless I am mistaken, your method is wildly different than it was when you started and got funded the first time.
There is a saying that if you've been working on this for 10 years but with 10 different methods, you don't have 10 years experience but instead only 1 year experience.
Hi Mike. The entry location is different, but the philosophy of the trade is the same, it's momentum, it's strong level and tape/orderflow entry. What is different is I am taking a pullback entry instead of break out entry towards the level. I have been writing even during the first combine I would like to work on the entry as my original style is a subject to a possible massive slippage. So I did. More to this, markets change and gold does not behave anywhere close anymore to the spring and early autumn patterns. I think this is due to lack of participation, much less short term players and not anymore stop clusters past highs and lows like it was before. It might change back again but for now break out entry is a totally losing proposition.
I don't think anybody can have a 10 year experience in some particular specific method. Because specific methods are based on exploiting specific market inefficiencies and those tend to disappear much much faster than that. In my experience the average life of specific inefficiency is about 6 month. So much of doing a lot of testing and preparation before trading it live. Thus said, general principles and ideas remain the same and this is what counts towards experience. Not the knowledge where to place the order 5 ticks past the high or 1 tick before that. Monkey can be trained to be doing that.
Or I should trade my own money as it makes far more sense. I took a lot of educational value from TST but there is very little or none monetary value for me.
I would say trade your money, keeping most of TST rules. In my opinion, the combine rules are very helpful. Problem is, can you enforce them upon yourself?
Absolutely agree with it. Combine is very helpful for trader's development. Like Alex Gerchik said, if you can't be disciplined, there is no remedy for that, you should not be trading. Becoming more disciplined is an individual journey and often enforced by a major negative event. Or not enforced ever.
As for me, I plan to enforce discipline by being totally transparent and publishing my statement online, going in Don Miller type journey to prosperity. I will also introduce some punishments for not following the rules. Like having to run 10 miles no matter how shitty the weather is. And no eating any sweets for a week.