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Came across a thread on the Sierra forums yesterday and just thought of it now reading that you where trying Sierra for the combine. In your previous posts you had some charts with trend channel bars, I dont know if you still use them but they are possible to make with Sierra's flex renko bars, here is the link from their forums New Renko Function - Flex Renko, Hybrid, Trend Channel - Sierra Chart
I am taking some time off from my public journal so I can focus on trading. I found I was having a bit of performance anxiety while posting combine results. I will periodically post updates as the combine progresses.
I started trading CL along with UB since UB can be a bit of a sleeper. I found that I was forcing trades in UB because it was not moving. CL allows me to trade when UB is dead. This changes the dynamics of the combine. At this point I am looking to finish the combine being in positive territory. If I trade consistently for the rest of the combine I still have a chance of hitting my numbers.
I made some adjustments to my trading this week; I am focusing on a single setup. The setup consist of playing the breakout out of consolidation area. I am posting this from my iPad so I will post a chart later. I find that I am able to easily identify setups and cut losses quickly when I am wrong. Yesterday I had 4 winners and 6 losers but I ended breakeven. The prior day I had 1 winner and 2 losers and ended +18 ticks for the day. This is a big change from prior weeks where I would be decisively negative when I had more losers than winners.
Until I get this down I will be using only one contact. However, based on last weeks results I believe I can comfortably trade 3 contacts on CL and stick with 1 contract on UB once I get up and running.
In the past I found it very difficult to trade a single symbol.... each symbol only gives so many setups each day, and I tended to push my luck when that symbol for that given day didn't move enough for my setups to appear, or to make money that day. It doesn't work for everyone, but I trade 4 currency futures, 4 index futures and 4 others crude, oil, gold and copper. It takes some practice to continue to look through the charts, but what I end up with is being able to select "good" setups from those symbols that are moving and not trading other "less profitable" setups/symbols for that day.
I believe that you are correct on good trades are good from the start.
As an example of a long trade that is going sideways.
The way I have implemented time stops in the is to wait 3 bars then move the stop to under the low of the current bar. As each bar closes move the stop up to the new low. Ie squeeze the trade into either going in your direction or close it out for a small loss.
Neil.
Attached is my chart markup from today. Putting boxes around the consolidations has really helped me stay away from placing trades in chop. I draw these in real time. Its fascinating to watch how price stays within the box. Entry is pretty simple; I place a stop entry above or below the box about 5 to 7 ticks out and wait for the breakout. Sometimes its further depending on where support and resistance is located.
I am getting comfortable with the entries, now I have to let the position run to the target or let it get stop out. I left 30 ticks on the table today because I closed the position out early. 3 out of 4 entries would have hit and exceeded my original target.
All is well!! I have been hiding out and lurking in the futures.io (formerly BMT) shadows. Seriously though, since I started combine I have not done as well as I would have liked so I decided to cut out all distractions and outside influences. I have been talking / working with some other traders and made some adjustments to my trading. Seems to be ever evolving, however, I think my current setup may be the one or close to it. Its very very simple and limits my trades to 1 to 3 trades a day. I am currently on a 4 day win streak. I plan on posting details but I dont want to jinx it. Every time I think I am there the bottom falls out. This time I will wait and see approach.
good to hear from you and glad that things are going well !
I completely understand and agree with you on the point to consequently cut out any distraction from your Combine and completely focus on your trading. I'll proceed the same way when I (hopefully) start my Combine on NT by the end of March.
So, I wish you best of luck, you'll definetly make it...hope to hear you on the Squawk Box at TST soon !
I hit my entry this morning with a 2 target entry. First target hit and I chickened out on holding the runner. Ended +11. The price went 30 ticks lower after I exited the trade.
Last week I found a correlation between baseball and trading which is helping me (psychologically) get over my hesitation on my entries. Now I have to make progress on letting my trades run their course.
Seriously though, since I started combine I have not done as well as I would have liked so I decided to cut out all distractions and outside influences. I have been talking / working with some other traders and made some adjustments to my trading. Seems to be ever evolving, however, I think my current setup may be the one or close to it. Its very very simple and limits my trades to 1 to 3 trades a day. I am currently on a 4 day win streak. 
I plan on posting details but I dont want to jinx it. Every time I think I am there the bottom falls out. This time I will wait and see approach. 
