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TST Combine Journal
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Created: by indextrader7 Attachments:50

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TST Combine Journal

  #451 (permalink)
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josh's Avatar
 
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I don't know if it has anything to do with the fact that it's the sim server or not...?

My CTS data also crapped out:

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Out of curiosity, did you find out when it was still down towards the bottom that it was a rumor, and if so, how? I did not hear details until it was already back up.

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  #452 (permalink)
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josh View Post
I don't know if it has anything to do with the fact that it's the sim server or not...?

My CTS data also crapped out:

Out of curiosity, did you find out when it was still down towards the bottom that it was a rumor, and if so, how? I did not hear details until it was already back up.


Lately, anytime I see the $TICK get squirrely, I get on twitter. People were quoting the headline, then very quickly saying things like "hard to believe this one" or "could be a hack" and such... right as we were at bottom.

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  #453 (permalink)
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Well, unfortunately, not a great start for the combine. I've decided to stop trading short of my personal DLL.

I tried to hop on board the end of the world trade twice short, and got filled completely different prices than what my DOM was showing me. I then tried to buy, as mentioned, and no orders would go through...

My own fault for abandoning my plan and trying to make a quick buck in that situation.

I attempted a few trades since the mini flash crash, none were winners.

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  #454 (permalink)
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  #455 (permalink)
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I strongly believe you are making a mistake by jumping into another combine so quickly without addressing the core problems in your recent trading.

You've not given yourself any opportunity to correct any of the issues causing your anxiety when trading. And by entering another combine so quickly you are in fact reinforcing this bad behavior.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
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  #456 (permalink)
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Big Mike View Post
I strongly believe you are making a mistake by jumping into another combine so quickly without addressing the core problems in your recent trading.

You've not given yourself any opportunity to correct any of the issues causing your anxiety when trading. And by entering another combine so quickly you are in fact reinforcing this bad behavior.

Mike

Hey man,

I really appreciate the candor. The world would be a better place if people spoke more freely to each other more often.

I don't want to sound defensive, but rather walk through this.

I didn't have any anxiety today. I traded my plan (other than when I thought the world might end... I'll agree that I probably should have stood aside at that point, but I saw the event as opportunity, and I managed risk according to plan).

Another issue is that I think I need to be in some type of "live" environment to work on the issues that come up only when there IS something on the line. If I were to just go to sim and plug away, I'm won't be experiencing the emotions and therefore won't able to work on acknowledging them and making proper decisions despite them.

Even before the mini crash today... I felt myself getting frustrated at the market grinding so slowly, and not offering enough "opportunity" for me... (hear not meet my expectations - which is the root of any frustration). I had the awareness to sense this, acknowledge it, and re-focus on the fact that price action is neither negative nor positive, it's only in our minds that something can "feel" negative or positive. So I accepted what was happening as neutral, and waited for when my opportunities arose. I even spoke with a trading buddy about this real time, after HE brought it up that that's what he was feeling at the time too.

Just because I didn't make money for the small sample size of today, I do not feel bad about the day's results. Sure, I'd like to start out with a big winning day, but it's no big deal.

Again, I don't want to sound arrogant or like..."please, Mike, I know what I'm doing".... I just want to tell you where I'm coming from, and look forward to your reply.

Thanks again.

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  #457 (permalink)
Site Administrator
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Big Mike's Avatar
 
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I remember your posts and thread from last year where you traded so well and had such great discipline and focus on risk. That is the trader that I've invited to come talk in a webinar in a couple of weeks.

But this thread is a different trader. This thread has a trader that is trying to prove something, is rushing things, and is frankly handling loss very poorly. The recent purchase of another combine demonstrates that, it's an act that resembles more gambling than trading (needing 'the fix').

I don't want to get people mad at me for being too tough on you, so this is likely my last post for a while. I'm just telling you that you need to step away, refocus, fix the external things causing this pressure to build in your trading, and then come back to trading once everything is squared away.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #458 (permalink)
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phl pa. usa
 
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at the target range when you miss the bullseye ,do you pack up and go home or reload and aim again , go for it ,

today was a tough day , seemed every trade squated after entry this afternoon ,most of my es trades today were 1 tick in that 1.75 point range it played in after the squash and pop




my own personal reason to give tst a second shot was the realzation that I DID NOT TAKE ENOUGH TIME TO LEARN THE PROGRAM BEFORE I STARTED,so felt after some of josh's post ,which made sense ,to give it a go,we have a soon to be graduate coming in june ,and felt that tst would be a great place for a trader to work while in college,time will tell

oh and indextrader7 thanks for the tip on tst ladder

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #459 (permalink)
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From what I've seen, this TST Combine requires a framework for disciplined trading that’s necessary for consistently profitable outcomes. The key to passing the combine is to have a positive expectancy plan that incorporates rigorous risk management, and the ability to follow that plan. By focusing on disciplined execution of such a plan, the desired outcome will likely follow naturally.

Daily loss limit, max drawdown, and other combine constraints can be applied to a trading plan and if the plan works within this framework (or if you design a custom combine that fits your plan and is acceptable to TST), then by focusing on disciplined execution and trade management, you’re very likely to pass the test. With such a plan in hand, there’s no need to think about a daily loss limit or max drawdown; all you focus on is trading your plan.

A fellow trader I know who trades for a living once posted this on his blog and it became one of the pre-market “meditations” I read each morning (substitute "trade/trader" for "shot/shooter"):

With regard to the psychological training of professional athletes, particularly professional shooters: To limit stress (which is a fatal factor for any serious competition), professional shooters give themselves the right to make mistakes.

More exactly, they set their goal to make a correct shot technically, not to hit the target. They even inspire themselves that outcome is not that important at all, but correct technique is what only matters.

And that little trick leads to great results. The shooter stands, focuses on the pleasure of the technically perfect shot and does it literally without stress, being focused on the process, not the outcome. Ironically, the chance of target being perfectly hit increases dramatically in such a case.

If the pro shooter's mental focus was to hit the target, he would get overstressed and likely have the opposite result vs. desired.

This is a proven technique used by pro shooters, power lifters and in most other kinds of sport to limit stress during the competition.

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  #460 (permalink)
Elite Member
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rubyslippage View Post
From what I've seen, this TST Combine requires a framework for disciplined trading that’s necessary for consistently profitable outcomes. The key to passing the combine is to have a positive expectancy plan that incorporates rigorous risk management, and the ability to follow that plan. By focusing on disciplined execution of such a plan, the desired outcome will likely follow naturally.

Daily loss limit, max drawdown, and other combine constraints can be applied to a trading plan and if the plan works within this framework (or if you design a custom combine that fits your plan and is acceptable to TST), then by focusing on disciplined execution and trade management, you’re very likely to pass the test. With such a plan in hand, there’s no need to think about a daily loss limit or max drawdown; all you focus on is trading your plan.

A fellow trader I know who trades for a living once posted this on his blog and it became one of the pre-market “meditations” I read each morning (substitute "trade/trader" for "shot/shooter"):

With regard to the psychological training of professional athletes, particularly professional shooters: To limit stress (which is a fatal factor for any serious competition), professional shooters give themselves the right to make mistakes.

More exactly, they set their goal to make a correct shot technically, not to hit the target. They even inspire themselves that outcome is not that important at all, but correct technique is what only matters.

And that little trick leads to great results. The shooter stands, focuses on the pleasure of the technically perfect shot and does it literally without stress, being focused on the process, not the outcome. Ironically, the chance of target being perfectly hit increases dramatically in such a case.

If the pro shooter's mental focus was to hit the target, he would get overstressed and likely have the opposite result vs. desired.

This is a proven technique used by pro shooters, power lifters and in most other kinds of sport to limit stress during the competition.

Excellent post @rubyslippage.

Process goals ALWAYS, never profit goals or 'material goals' lead to the mental edge if I can put it that way....

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