A TopStepTrader's Humble-Pie-Way: A TST Combine Journal of iqgod's "Take 2" - futures io
futures io futures trading



A TopStepTrader's Humble-Pie-Way: A TST Combine Journal of iqgod's "Take 2"


Discussion in Trading Journals

Updated by iqgod
      Top Posters
    1. looks_one iqgod with 104 posts (109 thanks)
    2. looks_two rubyslippage with 5 posts (20 thanks)
    3. looks_3 Anagami with 4 posts (11 thanks)
    4. looks_4 Pedro40 with 3 posts (3 thanks)
      Best Posters
    1. looks_one rubyslippage with 4.0 thanks per post
    2. looks_two Anagami with 2.8 thanks per post
    3. looks_3 iqgod with 1.0 thanks per post
    4. looks_4 Pedro40 with 1.0 thanks per post
    1. trending_up 14,531 views
    2. thumb_up 158 thanks given
    3. group 14 followers
    1. forum 130 replies
    2. attach_file 68 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

A TopStepTrader's Humble-Pie-Way: A TST Combine Journal of iqgod's "Take 2"

(login for full post details)
  #21 (permalink)
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, 2,946 received


Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to iqgod for this post:

Can you help answer these questions
from other members on futures io?
Move indicator on Chart
NinjaTrader
Traderoomplus
Trading Reviews and Vendors
MulitCharts: Limit Order converted to MIT
Platforms and Indicators
Sending an ACH from BoA to GFF Brokers
Brokers
Sierra Chart Alert Formula Question
Sierra Chart
 
 
(login for full post details)
  #22 (permalink)
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, 2,946 received

Market State:

CL appears to be in an uptrend - I anticipate an upmove to complete a two-legged bull trend extreme test after which a major reversal may be expected.

Even right now pirce has broken to the upside from the trading range and shows the eagerness to break above the doble top printed earlier.



Note: I cannot start taking a long position till an hour later i.e. only after 5 PM CT.


My State:



E G O.


I detect the undercurrents of ego already.

B E W A R E.

Ego needs a tight leash - DO NOT take overconfident entries IQ!

Rule for today:

The MARKET is the 800-pound gorilla not IQGOD. Avoiding a wrestling match is a no-brainer.

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #23 (permalink)
mumbai maharashtra/india
 
Experience: Beginner
Platform: Ninja
Trading: Crue/Tf
 
jinhar's Avatar
 
Posts: 289 since Jun 2009
Thanks: 23 given, 763 received



iqgod View Post

Broke a rule - switched to CL instead of focuing on 6E.

I thought your rule was to focus on 6e ? or i am missing something ? Btw best of luck on your combine.

-Jinhar

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to jinhar for this post:
 
(login for full post details)
  #24 (permalink)
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, 2,946 received


jinhar View Post
I thought your rule was to focus on 6e ? or i am missing something ? Btw best of luck on your combine.

-Jinhar

Like much of the things in life, due to single a moment's immutable effect I'm now into CL for the long haul for this combine.

Other similar examples:

- You have a fling with a cute member of the opposite tribe and are convinced that (s)he is the Perfect One. The decision is of course taken at the mature age of sixteen and then you live till the ripe age of ninety wondering in Robert Frost fashion about all the other 'roads not taken'

- etc.... you get the drift.


One thing is - should I follow the volatility and change instruments midway? That would be too much risk, since combine parameters are applicable per instrument.

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #25 (permalink)
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, HSI, Nikkei
 
josh's Avatar
 
Posts: 5,466 since Jan 2011
Thanks: 6,054 given, 14,457 received


iqgod View Post
One thing is - should I follow the volatility and change instruments midway? That would be too much risk, since combine parameters are applicable per instrument.

I agree, too many instruments could present challenges in meeting all the requirements for all instruments. But since you have already met the parameters for CL and wish to change, then you could do so at this point without any issue.

Reply With Quote
The following user says Thank You to josh for this post:
 
(login for full post details)
  #26 (permalink)
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, 2,946 received

Today was a good day, according to me.

I was unable to read the tape for CL (leading to breakeven after breakeven trades), but the price action on the Euro FX became clear suddenly (light bulb moment) hence switched to 6E which improved my performance because I was in the flow there.






The blow-by-blow account of each trade follows shortly.

Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to iqgod for this post:
 
(login for full post details)
  #27 (permalink)
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, 2,946 received

The Euro FX Part:


Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to iqgod for this post:
 
(login for full post details)
  #28 (permalink)
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, 2,946 received

This is the CL tab of the report:


Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to iqgod for this post:
 
(login for full post details)
  #29 (permalink)
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, 2,946 received

A Letter To Myself


I will not be trading today.

Why?

I have not journaled Day 2 Blow-By-Blow yet. That is a big warning sign of an impending lapse in discipline.

The other sign is I have not completed ANY market preparations yet. Big Big Ego looming large on the horizon.


I will complete the journaling process to allow my intuition to regain its footing. Perhaps this early success has gone to my head. But I promise here that I will not go back to the markets until I finish the journaling process that puts me back in touch with my intuitive function.

If and when I reexamine my head and find it held high without fear (not held high with false self-bloat and false ego) ONLY THEN will I open up my trading platform and start. Needless to say, I will first complete the necessary homework on the market state and only then place another trade, if any manifests itself.

Also, in this period I will not doze but I will continue to work as hard as I did to prepare for this combine.

Humbly yours,
iqgod

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to iqgod for this post:
 
(login for full post details)
  #30 (permalink)
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, 2,946 received


I hold myself accountable for trading CL with 'scared money' today.




These are the total five trades on CL today - three were near-scratch winners and two trades I took were actually closed at the same price as they were opened.

Trade 1 was a correctly taken (almost, but could have waited more) short.

It became obvious that once 9688 double bottom pullback level broke then the marker would form a new low before resuming its uptrend.

However I was nervous. Mainly because I had not practiced this type of trade pre-combine.

Hence I entered "anticipating" 9688 would be broken (may not be a good thing to always do), the stop was 10 ticks away and the target was 20 ticks instead of the 50 ticks planned (this was a scalp). However I could not read the tape at that moment and hence resigned myself to a breakeven + 1 stop. This was hit moments later.

You could say I chickened out, and that would not be far from the truth.


Trade 2 was a short that should have been taken earlier i.e. at 9690 but I hesitated and got filled at 9684 (confident market read, bad entry). The market then reversed quickly, almost touched my 10 tick stop at 9694 but reversed at 9692, probably after having taken out breakeven stops of the nimble folks who had entered at 9690). The market then reversed but since it was not behaving the way I had expected it to I exited at the same price on the third. This as per me was a good exit because my if..then...else logic's else clause says I must exit if the market comes back to my entry price after NOT DOING what I had expected it to do.

Trade 3 was after I came back to the screen having missed the sharp downmove. I expected a second sharp leg down but then I was flustered by not being able to read the market correctly earlier and hence I exited at a $10 gross profit ($5 after commissions). Otherwise my target of 9674 had been correct (to form a double bottom with the earlier wing low) had I waited with calm.

Trade 4 was a similar trade - this time however I was right in exiting quickly because this was a potentially dangerous trade because after Trade 3 the market had gone up and then this downmove was possibly climactic and taking on the last part of a gasping trend isn't high odds trading. So I was right about this but then I should not have taken this trade at all and should have instead waited for a reversal setup.

Coming up next: Trade 5 (another chart)

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to iqgod for this post:


futures io Trading Community Trading Journals > A TopStepTrader's Humble-Pie-Way: A TST Combine Journal of iqgod's "Take 2"


June 24, 2013


Upcoming Webinars and Events
 

Order Flow Tools w/MotiveWave & Zytrade Brokerage

Oct 22
 

Technical Analysis Workshop w/NinjaTrader

Oct 27
 

Bookmap

Oct TBD
 

SharkIndicators

Oct TBD
 

Carley Garner

Oct TBD
 

GruttePier

Oct TBD
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts