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TST Combine Journal


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TST Combine Journal

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  #331 (permalink)
Jacksonville, FL
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
 
TonyParisi's Avatar
 
Posts: 33 since Oct 2012
Thanks: 217 given, 40 received

@TonyParisi Thank you. You're right bro, I certainly do overtrade at times. It's something I've been "aware" of for quite a while, but since I'm profitable I've been ignoring it. Certainly something for me to add to the to do list for the continual revamping process we call trading. I'm a huge fan of accountability, it's part of the reason I have journals on futures.io (formerly BMT). What steps did you take to add accountability that helped you the most?

Probably my most notable turning point was when I started trading 1 lots live. I don't mean sim did absolutely squat for me. But, eventually it became a crutch. Just stick to your plan with 1 lots, or I understand that some people use runners so 2 lots if need be.

If you are dead-set on the combine, why not start on like the $50k???? You only need like $350 a day to hit goal, with a $1k loss limit. With 2-3 lots this should not be a problem I know you can do that I have seen your screencasts! I have seen quite a few great traders on futures.io (formerly BMT) posting calls and being wicked good at timing entries, exits, and overall market structure (mfbreakout, Gabriyele, PrivateBanker, etc, etc, etc). This takes years and years of experience. I'm not even close to being in the same league, these dudes are Pro, and I'm still using the T-Ball stand. But you know what, you can still get by, and get by well using that T-Ball stand.

Make a plan, follow it, no excuses, no regrets, no discretion, no second guessing, FOLLOW IT. Remember it isn't a sprint, it's a journey. You simply experienced a 'pullback'. Keep up the trend dude.

Perhaps watch this 50 times: https://www.youtube.com/watch?v=_Z5OookwOoY

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  #332 (permalink)
Legendary Market Wizard
Cleveland Ohio/United States
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation, DeCarley, others
Trading: futures
 
Posts: 2,806 since Jul 2012
Thanks: 1,452 given, 5,418 received

Really sorry to hear of what happened today. I'm curious, why did that happen? Did you get caught up in the moment, and forget where you were loss wise before taking that last trade, or did you take that last trade knowing a loser could lead to Combine failure, or unanticipated slippage, or just something else?

Yesterday I wrote in my Combine journal that "daily loss limit" was one of the few combine requirements in my control, and therefore never should be exceeded. But maybe I missed some aspect of it.

There is a lesson here for all Combiners, that definitely goes beyond the trading strategy itself.


If you already did diagnose this, I must have missed it in the thread. Can you tell me the post #?

Thanks

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  #333 (permalink)
Legendary Market Wizard
Cancun, Mexico
 
Experience: Advanced
Trading: Stock Index Futures / CFDs
 
Anagami's Avatar
 
Posts: 860 since Dec 2010
Thanks: 598 given, 1,885 received



indextrader7 View Post
I donít think Iíve ever truly succeeded at anything in my life.

I donít know if I will ever be able to not have blowout days in trading. This is my second one in 12 months. All it takes is ONE every 100 months to matter.

I know exactly where to exit trades for small losses. I cannot follow that rule 100% of the time.

I donít know if I am cut out for trading. I know that Iím not cut out for trading if I cannot fix the problem, and the problem is me.

I donít know how to fix the problem. There is a way to take the responsibility off myself and only keep enough margin in my personal account to where Iíll be hitting a margin call around the time of a daily loss limit. So thatís one thing I can do, but it doesnít satisfy the root of the problem.

Honestly Iím tired. My arms are up in the air. I almost just donít care.

This painful experience WILL NOT BE ENOUGH to change me. Iíve had plenty of them through the years, and I still go back to letting a trade get out of control from time to time.

I donít know how to fix me.

Thank you for your honesty and quality postings... I've enjoyed them for quite some time now.

If you want a real reset and a fresh start in your trading career... AND are willing to try anything, I suggest you book yourself for a free 10-day meditation course:
The Vipassana Center in Georgia - I think this one is closest to you
(Alternatively, you could find another center at Dhamma.org)

You don't know how to fix you. The 10-day meditation course will give you the tools.

I suggest this only if you are serious about deep personal change.

The rest is up to you, I wish you the best.

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
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  #334 (permalink)
Legendary Market Wizard
Mumbai, India
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
 
iqgod's Avatar
 
Posts: 1,764 since Feb 2012
Thanks: 3,626 given, 2,944 received


Anagami View Post
Thank you for your honesty and quality postings... I've enjoyed them for quite some time now.

If you want a real reset and a fresh start in your trading career... AND are willing to try anything, I suggest you book yourself for a free 10-day meditation course:
The Vipassana Center in Georgia - I think this one is closest to you
(Alternatively, you could find another center at Dhamma.org)

You don't know how to fix you. The 10-day meditation course will give you the tools.

I suggest this only if you are serious about deep personal change.

The rest is up to you, I wish you the best.


@Anagami is right.

Mindfulness has been the KEY - The Holy Grail - that has kept me afloat in the combine waters.

You can also refer to my experiences at https://futures.io/psychology-money-management/26228-mindful-meditation-better-trading-logbook.html

Visit my futures io Trade Journal
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  #335 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


kevinkdog View Post
Really sorry to hear of what happened today. I'm curious, why did that happen? Did you get caught up in the moment, and forget where you were loss wise before taking that last trade, or did you take that last trade knowing a loser could lead to Combine failure, or unanticipated slippage, or just something else?

Yesterday I wrote in my Combine journal that "daily loss limit" was one of the few combine requirements in my control, and therefore never should be exceeded. But maybe I missed some aspect of it.

There is a lesson here for all Combiners, that definitely goes beyond the trading strategy itself.


If you already did diagnose this, I must have missed it in the thread. Can you tell me the post #?

Thanks

I knew exactly where I was p/l wise the whole time. You're right, it was in my control, and should not have been exceeded. It was definitely one of those things where I hesitate on the normal loss, and as mentioned, keep finding levels lower and lower that I think could possibly support price. Eventually it's a very large loss, and I get the feeling, "Well, I've already really screwed this up this bad, might as well let it play out to the bottom of the channel i've been trading off of for weeks. The channel broke and my final stop was underneath it.

It was the classic, move the stop... price nears... move the stop again... big loss.

 
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  #336 (permalink)
Como Italy
 
Experience: Intermediate
Platform: Ninjatrader, customized
Trading: ES
 
Posts: 526 since Feb 2010
Thanks: 471 given, 639 received


Anagami View Post
Thank you for your honesty and quality postings... I've enjoyed them for quite some time now.

If you want a real reset and a fresh start in your trading career... AND are willing to try anything, I suggest you book yourself for a free 10-day meditation course:
The Vipassana Center in Georgia - I think this one is closest to you
(Alternatively, you could find another center at Dhamma.org)

You don't know how to fix you. The 10-day meditation course will give you the tools.

I suggest this only if you are serious about deep personal change.

The rest is up to you, I wish you the best.

I would also recommend trying meditation. It may be too much to think of going for one of these 10 day retreats, but there are usually shorter retreats happening all over. And if not that, just start doing it for short periods at home, and build up. The basic instructions for vipassana are simple and take about a paragraph, the rest is just doing it.

It's especially good for helping you interrupt your habitual responses - there's a near perfect negative correlation between my own repetitive stupid mistakes and my persistence in meditating for short sessions throughout the day.

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  #337 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradeovate
Trading: NQ/ES/NG
 
pilotui's Avatar
 
Posts: 120 since Apr 2012
Thanks: 118 given, 115 received

Exactly, easily one of the best pen to paper quotes I've ever read in my life. You summed up exactly how I felt when I blew all my profits. Bravo.

IT7...take a day, and then get back at it.





FuturesTrader71 View Post
I have a simple question: Are you or are you not committed to being a consistent trader?

In other words, given that we can't change the past and we live in the now-moment, what do you want to do? Would you like to complain, be a victim (maybe) or would you like to take actionable steps to potentially improve the situation for yourself?

Let me know and we can move forward.

Days like today are TEACHERS. They stress-test our risk plan, emotions and attitudes. How are you handling today's test?


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  #338 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Spent the first part of the day going through an "exercise" in what happens when you don't take your small loss with a fellow trader and new friend.

Started trading after 11AM. Two trades for the day.

First trade was a simple pullback looking for a final push into the 47.25 area. Got filled there, and the rest stopped out near BE.

Second trade was a reversal to long after the remainder of the short was scratched. This trade made a lot of sense to take, as I was seeing a range developing on my higher timeframe. Target was 55, but it stopped 2 ticks shy of there and I got stopped on a pullback before it eventually got there. Still a good trade and well managed.

main trading timeframe


higher timeframe


Hard to really trade off this info, but I think it's pretty significant that we're unable to sustain anything above 1556. Kind of a hint hint like the last time I said "hint" on 3-27-13:


indextrader7 View Post

I figured we would push down to the lower end of the channel that I posted about pre-session today (which interestingly, and bullishly, we failed to do ((hint for tomorrow)).

3-28 (the next day) ended up being a pretty strong up day, we'll see, it's all random anyways (whether this bearish view plays out), but it's just what I see currently.

 
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  #339 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,057 since Jun 2009
Thanks: 31,658 given, 95,054 received


indextrader7 View Post
it's all random anyways

eh?

Mike

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  #340 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012



Big Mike View Post
eh?

Mike

Whether that hypothesis plays out or the exact opposite happens = random. That's my current bias though.


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