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

  #31 (permalink)
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Day 2: Blow By Blow Account - Last CL Trade of the Day

The fifth and the last trade of CL was entered and exited at the same price though the short based on half-confirmation was not a good one even during real-time. mainly because two bars earlier the market broke the pinbar high taking out the stops above it and usually when this happens statistics point to a long drawn uptrend or range before a meaningful reversal. So it was simply bad trading.

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Now that I think of it was a heady trade - the market had given me no losing trades for two whole days - what wrong could I do (Added Verbiage: such was the egoistic smell this trade stank of!)

Thus I decided to call it a day when my eye was rivetted my the Euro FX price action and I decided to switch.

Coming up next: My two successful Euro FX (6E) trades.

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  #32 (permalink)
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Day 2: Blow By Blow Account: Two 6E Trades

The first trade was a nimble scalp and deserves applause (@iqgod applauds @iqgod!) I expected the market to go a 'bit' higher and then start reversing - that happened by the book.

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The second trade was after the confirmation of the pinbar extreme break - a 'safe' high probability trade - I exited quickly here again - 'fear lent me wings'. The funny thing about this trade was that I had exited the earlier trade using the infamous 'Flatten All' button. Then I was aware thanks to the posts on @indextrader7's journal that my auto-OCO orders would not be pulled (I had not set that option yet) - but then I saw that the auto-OC order was where I wanted to enter short the market. Before I could pull those orders and enter a NEW order with auto-OCO preset the market traded through my auto-OCO sell and I was in!

These two trades netted $187.50 ($177.5 post-commissions) - I could have held for the further prolonged downmove but my nerves declined the offer.

More than market state, my state matters most!

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  #33 (permalink)
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Day 3: Trade Report


This is the trade report version 1.0:

(I continued trading after this so it is not the final report but need this report here for the comments I will be making in further posts)


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  #34 (permalink)
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Day 3: FINAL Trade Report

Version 2.0 of Trade Report: (the final trade report - I have stopped trading for today)

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  #35 (permalink)
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iqgod View Post
Version 2.0 of Trade Report: (the final trade report - I have stopped trading for today)

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Have you traded 3 different products in 3 days? ZC CL 6E?

"If I agreed with you, we'd both be wrong."
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  #36 (permalink)
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Yes!


addchild View Post
Have you traded 3 different products in 3 days? ZC CL 6E?

Yes! But only after making sure that all parameters were in the green for the previous products.

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  #37 (permalink)
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iqgod View Post
Yes! But only after making sure that all parameters were in the green for the previous products.

What is your reasoning?

"If I agreed with you, we'd both be wrong."
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  #38 (permalink)
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addchild View Post
What is your reasoning?

I do my homework and it turns out after the analysis that price action is more clear on Instrument X instead of Instruments Y and Z. Instead of taking sub-standard or dicey setups on Y and Z I take better quality trades on Instrument X.

However the downside of course is that since wins and losses are a random distribution then there is a possibility that Day 1 for Instrument X is a loser and I thereby get 'locked in' i.e. I need to continue trading Instrument X for the probabilities to play out properly.

I wonder if this can be termed as the magic bullet @Big Mike preaches about i.e. "Diversification" though that isn't really the correct word for it. I mean it isn't time division multiplexed but frequency division multiplexed (the electronics engineer speaking, the concepts come close to what I am trying to express).

I hope I don't sound smart-alec-like - there are wide chasms around my argument.

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  #39 (permalink)
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Day 3: Blow By Blow Account: ZC (Corn) Trades

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  #40 (permalink)
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Day 3: Trades


I took four trades today on ZC (Corn) - two winners and two losers - netted $25 gross and $5 after commissions:

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