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TST Combine Journal
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Created: by indextrader7 Attachments:50

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TST Combine Journal

  #111 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
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Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

^^^ Above post might as well have been a big bull on the cover of Time magazine. haha

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  #112 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

I'll manage this trade on a live webcast if anyone wants to join:

It may be the most boring thing ever. Or not...


https://join.me/indextrader7

SESSION CLOSED NOW.


Last edited by indextrader7; March 7th, 2013 at 03:37 PM.
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  #113 (permalink)
Elite Member
Georgia, US
 
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josh's Avatar
 
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Is this a prep for TST trade? If so, I'm sure you are aware you must close the position by 3:10pm CT; are you expecting 92 by that time today?

 
  #114 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
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Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

Yes, thanks man. 1:30 is my session ending time, so I just closed out the remainder.




josh View Post
Is this a prep for TST trade? If so, I'm sure you are aware you must close the position by 3:10pm CT; are you expecting 92 by that time today?


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  #115 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
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Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

Here's how it went.

Took first half off after price was quickly rejected at new highs. Took rest off when swing low that led to that high failed.

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  #116 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

Exercise round 2 completed

Well, I scalped from 7am until 1:30pm today. 25 trades. Keep in mind this is on sim, and it's a mental exercise I'm doing. I have no real concern for trades, other than to follow rules and manage them as best I can. The main thing I'm focused on is how I FEEL during trades.

Yesterday, I hesitated on a few setups. Today, I didn't do that, so kudos there.

The problems today? I should not allow trades to go past 10 ticks on me. That went out the window today; I had six trades that had MAE's beyond 10 ticks.

On those trades today that I allowed past 10 ticks, a few things happened that I noticed:
1. I really wanted to "be right" on them. Noted in journal.
2. I would start to look at other timeframes, other information, searching for ANYTHING to give me a reason to "hang on" a little longer.

This is a good thing to notice, because it's something that needs to be fixed.

Other than that, I executed the system well today. Today was certainly not a day that was conducive to that method, but that's beside the point.

Being 100% honest, it is embarrassing to write these things down here. I feel like I should be "better" than this. I feel awkward for putting myself out there as someone who can "help others" with trading, because I now see myself as the one who needs help. I'm not having a pity party here, it's just the truth that it's hard to continue to make my weaknesses public. It's shaming. (Probably a good motivator to continue to improve though right?!)

Here is the 20+ trade sample.

A zero expectancy (gross) for this sample set. 50% winners, 9 tick average win, 9 tick average loss. (negative expectancy after commissions on the 29 trades)

Here's a cumulative look at the past two days trades, which completes this exercise for the 29-trade sample. This chart was made using the output function that the S5 trade analyzer has. I just combined yesterday's and today's outputs.

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Results of the exercise:

- I really did make less mental mistakes than the first exercise, so that is a good thing for sure.

- I can tell that I am becoming much more self-aware. This is a very very good thing. If I get nothing from these exercises other than an increased self-awareness, then they will have been time well spent.

- I still struggle with wanting to be right on trades. Which, in this exercise, led me to hesitate. Yesterday, I hesitated on a few entries, today I hesitated on a few exits. Interesting to me how it was only a one-sided problem each day. I wonder if there is anything behind that dynamic...

Focus for the next exercise:

- Keep improving self-awareness. Right now I am catching myself in the act of committing errors; next, I will catch myself even thinking about them (before I commit the crime).

- Larger sample size. Because scalping can lead to so many trades, I'm going to extend the sample size for Exercise Round 3 to be time based. It will start tomorrow, Friday the 8th, and go through next Friday, the 15th.

- Continue to remove energy from the idea that I need to be right. Continue to add energy to the idea that I don't need to know what's going to happen next in order to make money.

- I will be taking this exercise live soon, no more sim exercise.



Guys, this is so much work. I feel completely uncomfortable. This is probably a good thing, but it is so hard.

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  #117 (permalink)
Elite Member
Tulsa OK
 
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indextrader7 View Post
Guys, this is so much work. I feel completely uncomfortable. This is probably a good thing, but it is so hard.

Everything worth having in life requires work IMO.

20,000,000
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  #118 (permalink)
Elite Member
Denver, CO
 
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indextrader7 View Post
Guys, this is so much work. I feel completely uncomfortable. This is probably a good thing, but it is so hard.

Good work on your progress! If it was easy, everyone would be doing it. I think trading is uncomfortable because the needed mindset is very different from many other areas in life.

Plan your trade, trade your plan.
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  #119 (permalink)
Elite Member
Kampala, Uganda
 
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Posts: 164 since Mar 2011
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IT7...I really appreciate the honesty and transparency in this thread. Great stuff

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  #120 (permalink)
Elite Member
Mumbai, India
 
Futures Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
 
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indextrader7 View Post

- I really did make less mental mistakes than the first exercise, so that is a good thing for sure.

- I can tell that I am becoming much more self-aware. This is a very very good thing. If I get nothing from these exercises other than an increased self-awareness, then they will have been time well spent.

Focus for the next exercise:

- Keep improving self-awareness. Right now I am catching myself in the act of committing errors; next, I will catch myself even thinking about them (before I commit the crime).


Guys, this is so much work. I feel completely uncomfortable. This is probably a good thing, but it is so hard.

Keep up the good work!

We are all standing besides you on this wonderful community @Big Mike. If you ever feel you need some data crunched let me know and I will do it for you. I know how huge and insurmountable the multiple tedious tasks of trading feel (and I used to be actually THRILLED while trading a few years ago, LOL).

Starts with review, planning, what-if, keeps you on your toes waiting waiting waiting to no end for low risk setups, then keeping yourself patient and further patient and composed till a proper exit presents itself, then further self-awareness to stop ego from a profitable trade and fear adding from a losing trade and not letting both affect you on the next trade, rinse repeat for hours --- and ends with record-keeping, self-awareness again. Takes the life out of you. Almost makes me feel promoting myself to a swinger from a scalper!

Great job, and all the best on live!

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