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Rogue MNQ 2/21 Journey


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Rogue MNQ 2/21 Journey

  #21 (permalink)
 
RogueJoules's Avatar
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
Posts: 42 since Jan 2021
Thanks Given: 48
Thanks Received: 49

This past week I failed to follow through with a clear mind. It wasn't so much the previous weeks's loss, but the bittersweet shock of selling my first house/rental. Its under contract but the process is underway. Crazy how fast 5 years goes by, similar to how fast 2 weeks of home run trades goes down the drain in basically 2 days. Courtesy of captain distraction. So I officially went boom on Tuesday for the 3rd time w/cash accounts with not completely protecting profits. The other 2 were using options blindly last June & October. Managed to pay myself twice lol.

Being my first hard self sabotaging loss with futures (micros) Ive noticed that daily sustainable targets are key for me. Along with separating emotional baggage that clouds my focus at times. Over a week ago I knew on picture day I should of taken a break while I was ahead. But due to my short term over confident self of collecting bigger swings I falsely chased with an arrogant bias waiting to be chopped up.

So for 10 profitable days I MIGHT of passed a combine 3/29-4/16 I was throwing good "oversized" daily nets with little discipline to show for. Big gains= big losses. 4/13-4/14 my nets began to unravel. 4/19-4/20 my "net" system became too rotten to make any progress.

This pursuit is still my main focus. But the free time I had wont be back until the fall Im guessing. So while other priorities are present, Ill probably be on a break from weekly updates as I regroup. 3k mile move etc. Looking forward to upgrading to elite to soak up more of this community. GG & GL to all

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  #22 (permalink)
 
RogueJoules's Avatar
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
Posts: 42 since Jan 2021
Thanks Given: 48
Thanks Received: 49

Despite attempting a break I couldn't resist. Still experienced more growing pains over the last 2-3 weeks. This week I wouldn't call it green. As it was tinkering/flirting with blow ups.
However the bulk of this post will be covering my Friday performance where I felt I made some improvements.

So my new routine I think going forward will consist of SIM land from 8-10ish. If I feel confident in acknowledging the market that day then Ill enter my live account to collect my fish for the day starting around 9:55 to 10:30.

So I jumped in for 2 quick scalps around 955-958am. By the time I refreshed my tea or took a call I missed the rally at 10. So I waited until 10:26 when it appeared to be breaking my 21 ema, too soon. My plan is to wait for good setups surrounding either side of 40 ma on my range chart with other caveats too. This occurred approximately 12 mins later. Managed to close out a few for positive start. So I took a break to walk the dog.
Returned by 12:30ish

By 12:44 I was trapped short & fearful of a 1pm rally against me. So I closed out 2 of 3 at 12:55 & 1:05 for a small loss. As I saw support start to break down I began scalping 9pt moves, Instead of waiting for the 15/20pt targets. Wanted to control my confidence after April shattered it. By 1:16 I was 6.5 pts away from my daily goal. I like the power hour action, so I took a bike ride break to clear my mind & returned at 330pm. I foolishly went long as it was fading & converging. Luckily 4 mins later my profit trigger saved my ass. As there was no 9pt move in my direction again until the last 10 mins.

Other than that waiting to reset my E2T account as I want to maintain their rules in my LIVE account before I start that grind. For whatever reason I cant seem to take sim seriously, long enough to earn a funded account. So Ill force myself to stay small, make it happen on my personal to eventually duplicate it for the recognition /confidence boost of at least earning 1 funded account in my journey.

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  #23 (permalink)
 
RogueJoules's Avatar
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
Posts: 42 since Jan 2021
Thanks Given: 48
Thanks Received: 49


Welp I started off this week by ending my brief 3 day win streak in the 50k gauntlet. Wasn't intending to throw money at a prop firm but bored waiting on house appraisal/closing to start my next chapter. & Accepting that I need more disciplined practice before I risk more money & hey its an investment in myself. By Tuesday I was hanging on by a thread not wanting to reset, enter Wednesday I said screw it & started over. Admittedly part of my problem is jumping back into the NQ from the MNQ. Mainly doing this so I trade less, as the 2 contract limit in the MNQ feels like a slugfest at times if I dont nail the entry or wait too long. I was usually only trading 3-4 contracts in the MNQ, lightly scaling in & out based on action.

So here Iam back on another 3 day streak of consistent profits. I feel better with this start as I reopened the good ole NT8 charts instead of foolishly using their DOM w/ToS & tradovate charts. Still wish I could ZOOM out of the DOM but after enabling the chart trader feature to move orders around as needed I dont hate it as much as I did but honestly to me it needs an overhaul. I fiddled with the font size this morning, giving me more visibility. Maybe Ill turn my monitor vertical for giggles

Other than that slowly massaging my charts adding & taking away different indicators as I grow. Tinkering lately with Kaufman MA & ROC oscillator based on my short term scalps. Not sure if I rely on TTM still but I like the squeeze setups when it works lol. Which maybe says more about my entries as sometimes I wonder if its irrelevant in futures. The biggest thing for me is to wait or be quick. I dont want the home run whale in my net forcing me to chase that high, I want to methodically capture my daily limit of salmon to feed myself & slowly scale up my limit over time.

The one nice thing Ive noticed even though its 3 different demos essentially, is all 3 I aim to hit my daily goal but 2 of them I use for when I cant sit on my hands. But internally I know I should walk away, luckily have gotten much better at sitting back & watching after I hit my daily goal. Think Ill keep my personal account/funded & demo open as risk management thing for myself in the future as its been helpful during this current phase of the journey. Still feeds the ego just keeps my targets low & sustainable but spread out to match my current skill level.

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  #24 (permalink)
FuturesDayTrading
Columbia, MO
 
Posts: 14 since May 2021
Thanks Given: 1
Thanks Received: 20

I also trade the NQ exclusively. And have done the Earn2Trade guantlet mini before.

If you have the order flow suite on NT8, I'd highly recommend throwing cumulative delta up on your whichever chart you're using for entries. I've found it very useful with the NQ.

Best of luck on the evaluation program!

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  #25 (permalink)
 
RogueJoules's Avatar
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
Posts: 42 since Jan 2021
Thanks Given: 48
Thanks Received: 49

TY, I have it up with tradovate. Its definitely a game changer. I just need to study/respect it more.

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  #26 (permalink)
 
RogueJoules's Avatar
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
Posts: 42 since Jan 2021
Thanks Given: 48
Thanks Received: 49

Well yesterday was day 12 of the 50k gauntlet for me. Managed to stay disciplined most of that time , hitting my daily profit goal of 275-325 using mainly the NQ/MNQ. Made it briefly over the 3k goal only to lose control. I was at 180 or 200 net positive for Friday. My pushing for that extra $100 unraveled the whole week of progress. Ended -2, or +928 -930 plus commissions. Using my 6 months of futures wisdom , I managed to begrudgingly sit on my hands & ignore the action. This was after I managed to sim a positive $400 that made me think I could repair the smaller damage I did earlier in the session.

I was wrong.

Avg time in is hovering between 2-4 mins of exposure. I did manage to grind out 1 hour of globex on Wednesday night. I did ok but even using a mashup of 3 entry level brokerages I felt like I was flying blind. Needless to say I wasn't confident to go for normal targets.

On the plus side Im still alive in my quest for being a funded NQ trader , on this evaluation phase I lowered my percent profitable from 84% to 80%. Im long about 65% of my current evaluation, which could be higher but my performance for both sides is even at 80% being profitable.

Need to be better at waiting & respecting trend/ melt up days. Managing my losses better. As well as taking what the market gives.

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  #27 (permalink)
 Cutloss 
Midway florida
 
Posts: 243 since May 2021

are you trading live or demo? this gauntlet thing is demo correct?

also are you making +180 with the NQ or the micros..

for nomenclature purposes i have dropped mini and just call all MINI contracts what they are and if it is a micor then i say
MICROS.

I am thinking if you are trading the NQ and pocketing 180 to 200 then you have more work to do than you realize. i only say this from a standpoint of 1 or 2 bad trades where you don't follow your exits and you could be down 700 to 800 in a blink.

not attacking you or your methods im just wondering. if you can CONSISTENTLY KNOCK down 30 to 200 a day profit in the micros then i would say you are doing pretty good.

so if it is micros good job.

I don't ever worry about over trading. the more i trade the more i am testing myself and also learning more while in trades.

anyway thanks for sharing and hope you crush it.

I would think in my mind you must be making 500 to 1000 consistently in the NASDAQ FUTS or a few bad days will wipe you out always. thats the biggest issue for traders in my opinion is that everyone thinks they can do the same over and over and print money.. however.. the mkt dynamics are always chaniging because all mkts are connected so it is normal that works today doesnt work tomorrow. or next week but a month later maybe it works again.

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  #28 (permalink)
 
RogueJoules's Avatar
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
Posts: 42 since Jan 2021
Thanks Given: 48
Thanks Received: 49

No worries, I appreciate most critiquing when Im open minded & obviously 1 of the new kids on the futures block.

Yes its a NT8/tradovate demo like topstep or one up/ prop firm evaluation.
I agree in reference to the Nas mini. I typically just do micro & was clearing 200+- LIVE until I kept reaching/pushing for 400 in the micro. Was swiftly humbled once the market changed & I fell out of sync & somewhat attributed to personal distractions.

Since the prop firm has a progression ladder requiring my size to stay low 1-2 instead of scaling in & out 3-4 contracts, I decided to adjust my targets in the MINI & just continue to do 1-2 to minimize potential damage. So yeah Ill be back in micro land soon, as my confidence/consistency doesn't warrant the risk of the MINI.

I also agree with ignoring over trading to an extent, so Im using the 2-3 sim demos trying to match daily profit goals. Im finding that works better for me by spreading it out & aiming 250-500 in two & another that I tinker with larger swings for 1-2k daily. Eventually I plan to move up to the mini.

Thanks for the feedback, same to you on your journey.

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  #29 (permalink)
 
RogueJoules's Avatar
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
Posts: 42 since Jan 2021
Thanks Given: 48
Thanks Received: 49

Still trading the micro daily but was tempted for about a week to try & play with the Mini, right before the 4th of July . Welp as expected for my experience level that didn't last long. Boom!
So trying to stay optimistic with the MNQ. Part of the problem is me forcing trades while being in a unique situation. In limbo with staying at a friends place that is "going off grid" so no hardwired internet. (She had fios previously , we're cheap asses & frontier couldn't transfer my 5yrs of service to a new address competently after 3 attempts I said screw it) So playing Russian roulette at times with my phone hotspot & occasional coffee shops. Ive since deleted my phone apps to protect my dumbass at times (mouse only for me) & ordered the newest unlocked nighthawk hotspot from netgear. Waiting on that device, fingers crossed. Currently its more noticeable whenever there's lag or network throttling going on. So very dicey but trying with extreme caution while relying on my phone for connectivity.

Im moving west but also looking for mobile solution for trading , open to suggestions. Honestly as much as Im hit or miss at times, usually in the 60%+ profitable range but my weak point is controlling my losses & walking away while ahead. So in order to do that I decided to finally give Top step a chance after getting annoyed with NT & other props. Welp halleluja! Tradovate & Topstep partnership. Because of my current schedule I chose the micro swing combine for 10k account & plenty of flexibility with my current chaos.

So far Im stuck in step 2. I finally did my second reset, after 2 mornings of 60-80% profitable before 11am only to give it all back. MNQ - $356 tuesday & $400+ wednesday both before 1030. Then greed took over & I got stuck being too aggressive, market said thats mine now thanks for holding it. Normally these events trigger my lovely daily profit trigger lockout & Id walk away happy. Its not currently available according to topstep. I get their vetting process but its still an optional feature thats the choice of the trader to turn on. Similar to if I chose to just market order with no stop. Oh well its their Prop, Ill pass with their rules eventually.

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  #30 (permalink)
 
RogueJoules's Avatar
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
Posts: 42 since Jan 2021
Thanks Given: 48
Thanks Received: 49


Ended Thursday & Friday in the positive but was too sloppy. Too focused on passing step 2 instead of just being methodical. Im noticing without the daily profit lockout tools that Ill make a daily goal slightly higher than my normal one. So I think that its ok to challenge myself based on the market that day if done efficiently ie minimizing fees. With that said my new rule to attempt to implement on myself based on recent performance, is to limit my daily micro fees to under $100.

Combine Micro swing demo - TST for reference , Scaling In & out 1-3 at a time. Max open of 5 at a time.
Thursday I plateaued at 3:20 hovering at $103 in fees. I ended the day with less profit but added about $47 in fees. My % profitable dropped from 78% to 62.8%.
Friday - Was the worst with regards to fees & forcing trades. At about 1:35pm EST, I peaked at again 103 in fees. 75% profitable. Shortly before this moment I was like $50 from step 2. I think I was at $80 in fees. I remember saying to myself shut it down or pass step 2 by $100 in fees. Did i listen to myself? Nope. My rationale was that I was bored with my other priorities & that I needed the practice. Which is fine but realistically I should of opened a different demo or wrote trades down on paper. Ended $10 higher in profits but added another $124 in fees for a total of227. Percent profitable dropped again from 75% to 63.2%
If nothing else I think capping it at $100 in fees is a good starting point. From there I can work on more efficient swings to get that lower. Or if performance warrants changing the rule, but admittedly thats out a ways on the horizon for me to consider that.

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