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TST Combine Journal
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Created: by indextrader7 Attachments:50

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TST Combine Journal

  #71 (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

Daily stop hit today. 4 trades, 4 full stops.

Man, that hasn't happened in a while, which is a great thing, but boy it doesn't make it feel any better! I feel pissed at my coach for taking me off the mound when I "know" I can strike the next guy out. Deep down, I'm glad to have a coach though. I used to not have one.

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  #72 (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

Trade by trade recap, entry and exit.



Trade 1: Went short due to slowing momentum entering a resistance level.

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I was quickly stopped.
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Trade 2: Yes it was a 2 candle stall at support, but I chose to ignore the selling tails and the descending triangle forming against me.

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Trade 3: Now we're trending down, but I wasn't aware of a longer term wedge forming on the 30 min chart, so I'm late to the party with this attempt at a continuation trade.
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Stopped quickly... again.
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Trade 4: Now we're grinding higher in an uptrend, and I go for the higher probability play with the pullback at support.

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That my friends is a rough day.

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  #73 (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


Practice combine update:

I haven't posted the would-be stats in a while. I'll do it graphically today.

Here's overall net p/l performance. The blue line is what pace you have to be keeping to hit p/l targets in the 20 minimum days, the green line is what you have to stay above to hit the target in the max allowed 40 days.

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Days traded 11, winning days 73%

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20-trade rolling average of win% and win:loss (combine will use the total cumulative number which you can eyeball)

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Here's a graph showing cumulative P/L (can also eyeball drawdown figures) in green and right axis. Each individual trade p/l is the bar chart in blue (left axis)

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  #74 (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


DarkPoolTrading View Post
Hey it7,

You mentioned yesterday that you were looking for some feedback on your blog posts to get an idea of whether you should continue them. I for one think they're excellent. I especially enjoyed the article on charting your win% against your win:loss size ratio. These are two of the many stats that I already keep in my trade stats spreadsheet but i've never thought of charting them like that. Although keeping stats are useful, it is in how we analyze and interpret them that we benefit and learn from them. The human brain generally responds extremely well to visuals (more so than pure data), so anytime there is an opportunity to visually represent data in a chart there is potential for increased learning. I will be incorporating this into my spreadsheet over the weekend.

Keep up the good work with the live webcasts. It's both inspiring and educational to watch an experienced trader walk us though his thought process. What im finding great is to see how losing trades dont affect your decision to take the next trade. You simply take the trade and manage the risk. Something i've been trying to improve on over the last few weeks.

How long do you typically trade for? I wasn't able to watch the whole of yesterday's webcast but the prior days you seemed to be done after a couple hours. Do you then move on to trading other instruments or are you done?

Do you find it best to apply complete focus for a limited time and stop trading as apposed to trading the whole day but potentially not having as much focus?

Thanks.

Thanks for the feedback. I really do appreciate it. I literally have hundreds of people a day lurking the webcasts, blog, and the bmt journals, and I bet I average 3 "thanks" or interactions per day. I appreciate you taking the time to do so.

I typically trade until around lunch. Unless it's been really good and I feel like stopping, or it's really bad and I have to force myself to stop (like today). I really don't have any concrete rules for how long I trade each day, it's determined by how the trading is going, my emotional state, my physical state, my daily schedule, etc. If I am down for the day after a few hours, but not frustrated, and the markets are not in some awful state, I will keep going until I can get a big winner and end the day on a good note.

Yes, I think it's best to apply complete focus for a couple hours and be done. Given the short term nature of the moves I trade, if i'm "on", I should have been able to bank some ticks in a 4 hour period. In a realistically perfect world, I start to trade around 7CST, take 5 trades over the next 3 hours, with 2 small losers, 2 20+ tick winners, and a scratched trade.

Thanks again for the feedback. It certainly provides extrinsic motivation to continue to freely share what I know with other traders.

Best,

IT7

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  #75 (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

An interesting observation I made regarding the crude market lately. I posted it on the https://futures.io/trading-journals/17308-day-trading-crude-without-indicators-583.html#post307076 journal, because I figured more people might be interested there, but I didn't want to leave out anyone here.

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  #76 (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

Live webcast trading session starting in 7 minutes or so http://bit.ly/YG3llq on google+

or watch the feed at indextrader7 - YouTube

I'll be using the S5 Platform today.

 
  #77 (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

Another
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  #78 (permalink)
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denver, colorado
 
Futures Experience: Intermediate
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indextrader7 View Post
Another daily loss limit today. Very frustrating to put it mildly. It's my own fault today though. I had opportunities. Here's the overall picture. More analysis later after I take a break to clear my head.

Hey man - happens to the best of us. Keep trying, keep focusing on the simple stuff - don't look for something complicated to fix anything. The devil is in the details and its attention to consistency and emotional balance that will keep you on the path to better and better performance. Clear your head and don't dwell too much on negatives going into the weekend. Next week's a whole new week.

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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  #79 (permalink)
Trading for Profit
Pittsburgh, Pennsylvania
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES
 
Pedro40's Avatar
 
Posts: 550 since Jan 2013
Thanks: 31 given, 360 received

I really like the first chart in post #73, the Combine goal vs. net P/L. That is a very good visualization of where one stands and he can evaluate his performance with one quick look. If the performance keeps staying under the goal line, an adjustment is needed.

What did you use to make that chart?

 
  #80 (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



Pedro40 View Post
I really like the first chart in post #73, the Combine goal vs. net P/L. That is a very good visualization of where one stands and he can evaluate his performance with one quick look. If the performance keeps staying under the goal line, an adjustment is needed.

What did you use to make that chart?

excel line graph


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