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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"

  #81 (permalink)
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Day 13: The Message - knowing the market for the first time

"We shall not cease from exploration, and the end of all our exploring will be to arrive where we started and know the place for the first time." - T. S. Eliot


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After all these days I'm feeling that I've understood what the markets are all about for the first time. It has been a slow gradual and painful process.

As Ralph Vince says:


Tip
It requires discipline to tolerate and endure emotional pain to a level that 19 out of 20 people cannot bear. This you will not learn in this book or any other. Anyone who claims to be intrigued by the "intellectual challenge of the markets" is not a trader. The markets are as intellectually challenging as a fistfight. In that light, the best advice I know of is to always cover your chin and jab on the run. Whether you win or lose, there are significant beatings along the way.




If a trader realizes so much on the first day of his trading journey - whether by a strong belief system, mental toughness and LISTENS to sage advice, nay, listens to the MARKET then (s)he would be nearer to achieving trading goals that much faster.

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  #82 (permalink)
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My advice: now that you are back in the green, fix the stats, and stop this Combine and do a rollover. There are not enough days left to reach anything, you are better off starting brand new, with more chances....

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  #83 (permalink)
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Stats are still broken



Pedro40 View Post
My advice: now that you are back in the green, fix the stats, and stop this Combine and do a rollover. There are not enough days left to reach anything, you are better off starting brand new, with more chances....


The stats are still broken and I would not yet be eligible for a refund.

In the Japanese Yen I need to have my Average Winner greater than Average Loser which isn't the case.

Also, my average winner is held for one-fifth time than my average loser.

My Winners vs Losers ratio is nice but we need two statistics green for a refund.

In Corn I still need to get back to a positive average (it is currently negative six dollars)

So the only fighting chance I have is to trade well (which is rather easy to say, harder to implement!).

What does it mean to trade well?

Stay longer in trades!
How?
By letting my stops and targets be!

That is my current target.

Thanks for your comments.

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  #84 (permalink)
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To fix the stats....

As the Red Queen says in Chapter 2 of "Through the Looking-Glass, and What Alice Found There" (1871) the famous children's novel by Lewis Carroll:

"Now, here, you see, it takes all the running you can do, to keep in the same place. If you want to get somewhere else, you must run at least twice as fast as that!"


However, we all know what doubling up / loading up / overtrading etc will do to a combine (forget statistics) so I need to be at the top of my game and not disrespect my play.

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  #85 (permalink)
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Continuing the analogy...

I'm expanding on the earlier quote simply because it rather remarkably describes the predicament I am in:

Excerpted from Chapter 2: The Garden of Live Flowers from Through the Looking Glass, by Lewis Carroll

Just at this moment, somehow or other, they began to run.

Alice never could quite make out, in thinking it over afterwards, how it was that they began: all she remembers is, that they were running hand in hand, and the Queen went so fast that it was all she could do to keep up with her: and still the Queen kept crying 'Faster! Faster!' but Alice felt she could not go faster, thought she had not breath left to say so.

The most curious part of the thing was, that the trees and the other things round them never changed their places at all: however fast they went, they never seemed to pass anything. 'I wonder if all the things move along with us?' thought poor puzzled Alice. And the Queen seemed to guess her thoughts, for she cried, 'Faster! Don't try to talk!'

Not that Alice had any idea of doing that. She felt as if she would never be able to talk again, she was getting so much out of breath: and still the Queen cried 'Faster! Faster!' and dragged her along. 'Are we nearly there?' Alice managed to pant out at last.

'Nearly there!' the Queen repeated. 'Why, we passed it ten minutes ago! Faster! And they ran on for a time in silence, with the wind whistling in Alice's ears, and almost blowing her hair off her head, she fancied.

'Now! Now!' cried the Queen. 'Faster! Faster!' And they went so fast that at last they seemed to skim through the air, hardly touching the ground with their feet, till suddenly, just as Alice was getting quite exhausted, they stopped, and she found herself sitting on the ground, breathless and giddy.

The Queen propped her up against a tree, and said kindly, 'You may rest a little now.'

Alice looked round her in great surprise. 'Why, I do believe we've been under this tree the whole time! Everything's just as it was!'

'Of course it is,' said the Queen, 'what would you have it?'

'Well, in our country,' said Alice, still panting a little, 'you'd generally get to somewhere else — if you ran very fast for a long time, as we've been doing.'

'A slow sort of country!' said the Queen. 'Now, here, you see, it takes all the running you can do, to keep in the same place.
If you want to get somewhere else, you must run at least twice as fast as that!'

'I'd rather not try, please!' said Alice. 'I'm quite content to stay here — only I am so hot and thirsty!'




That, dear reader, is where my trading adventure brings me today (and I created the "wonderland" - I who am my own worst enemy!)

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  #86 (permalink)
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iqgod View Post
The stats are still broken and I would not yet be eligible for a refund.

In the Japanese Yen I need to have my Average Winner greater than Average Loser which isn't the case.

I am not sure you understand the rules correctly. You can have one red stat in each instrument and you are still good for the redo.

The easiest way to fix the stats is to throw in small but quick losers. That fixes both the duration stat and brings down the average loser too.

So make a little money in each bad parametered trading vehicle, then throw in a couple of losers (using a very thight, 1 tick stop loss usually works)

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  #87 (permalink)
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Pedro40 View Post
I am not sure you understand the rules correctly. You can have one red stat in each instrument and you are still good for the redo.

The easiest way to fix the stats is to throw in small but quick losers. That fixes both the duration stat and brings down the average loser too.

So make a little money in each bad parametred trading vehicle, then throw in a couple of losers (using a very tight, 1 tick stop loss usually works)


Ummm @Pedro40 ... you are right. However since my combine is aimed to make me a better trader this can be reserved as the very last option.

I'd rather first try to trade well and I still believe everything else will automatically follow.


Also, this post set my conscience thumping, which does not feel right in trading. No offence to you, and you aren;t suggesting something wrong at all, and a plus to you for having done your homework properly, but my step one tomorrow will be to trade well - hold winners long enough and make them large enough to offset the bad statistics.

That should also get me in positive territory.

To reiterate, it is important to be at the top of my game during times of adversity. That is my goal which will spill over in my 'real' trading.

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  #88 (permalink)
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Day 13: Official Daily Trade Report from TopStepTrader

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  #89 (permalink)
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LBR's advice

Linda Bradford Raschke gave some very sage advice. Here it is:

Everyday on a piece of paper write (don't type!) this 20 times:

"All my thoughts and actions draw success towards me more and more each day."


If you hear to yourself saying "I can't do this" it will take three affirmations on a positive basis or more to correct.

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  #90 (permalink)
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Day 13: The Pattern Continues - knowing the market is not enough, action triumphs


'Knowing' is now passe.

Once I come to an actionable tested plan and then reach a performance plateau after 'following' it, and even though I realize that I am doing the right things over and over, I now need to tell myself (without introducing risk, only managing it) that I have to make this happen.

Action Triumphs Everything.

Talented geniuses who did not take the necessary steps are cliche. Now DO the work.

S.T.O.P. taking one tick winners - be the person you always wanted to be (and truly ARE inside) - now let yourself through the sluice gates and be free........


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