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Another TST Combine
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Created: by garyboy275 Attachments:0

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Another TST Combine

  #51 (permalink)
Elite Member
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Futures Experience: Intermediate
Platform: schwab, metatrader, OEC,T4,TDameritrade
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Thanks Pedro I did read it earlier and re-reading it again.

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  #52 (permalink)
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Not a bad day +480 on day survived to fight another day. Just 2 trades for me first trade was with only .03 stop, no MAE at all, , all MFE, the 3 tic stop was 1 for entry and 1 stop and 1 for the slippage. Waited patiently for 45 minutes to let it line up and then hit it. There was again a good trade overnight short from 96.22 but logical stop was over 96.35 and plus it was overnight so I had to pass that, wouldve been a nice one to wake upto. Anyways, trades come dime a dozen. After the 2 Shut it down early and did practice.

Today was the last day of my practice account and it was the perfect day lined up for my trading. Made over 12k on practice, took all setups and all trades with .10 stop. 68% win rate, avg loser -90 avg winner 295, only the time on loser vs winner was not in my favor. Dont know if there is anything I can or want to do about it other than "fix" it.

Back to combine for now.

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  #53 (permalink)
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Nothing major--I was down early on first trade of day made near the lows of the morning. A couple of other small losers and then one winner and then I just scalped my way out of the hole to close positive +50 on day. I was determined to be + on day, may not be a good thing but right now just want to keep building the cushion.

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  #54 (permalink)
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Posts: 254 since Oct 2012
Thanks: 197 given, 438 received

Indisciplined when the crude #'s came out. Only good thing if you can call it a good thing is I stopped after the damage was already done and instead of revenge trading, I took a break after pondering if I wanted to continue or not for today (was down about $500-right at cutoff) I decided to continue and if I went lower than that I d stop. I didnt have much room from Max drawdown either and from down $650 made about $300 or so back with a 90% win rate. It seems I need to tighten up and the moment I have some gains I let go and become risk-seeking.

Made a couple of ok trades in ES but the elephant doesnt really move and I couldnt sit here and watch it. I need to cultivate more patience for my winners. I had 2 really good trades that were just 5-7 tic winners, next time I have to let my good winners run. Thats been a problem not putting on 2 lots.

PL -220 CL +87 ES and commissions of almost 135 on top for a total of -270 today. At least I feel good I came back from jaws of death and the winners boosted the confidence. This is second day in a row that I ve scalped my way back. Time to get ahead now.

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  #55 (permalink)
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Todays trading

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  #56 (permalink)
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The trend continues-start positive, go negative, close positive for day but by much. Nothing much was happening in CL--I was also trading my own account. Net +20 on day. Whatever I made in ES gave it back in CL. Plenty to get chopped in CL in the morning, until later on it went on a stop run, didnt catch any of it although everything was screaming buy.

Got stopped out on many and the winners didnt run. Couple of winners turned back for breakeven trades. Got lucky on a few trades too-sold top ticks 2 times. After 10 days all I have to show is that it didnt blowout but neither is it profitable.
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  #57 (permalink)
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Finally +465 on day on 11 trades 10 winners. No losers.

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Last edited by garyboy275; June 14th, 2013 at 07:18 PM.
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  #58 (permalink)
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Time for a review:

Friday I traded really well and I could have put the pedal to the metal but to me it was more a choice of closing +ve with good trading than the $$ figure. Close to $500 was good enough for me. It was actually the positive mental state that I was after. I wanted to clear my head of all the negativity and self doubt however small that had crept in from execution errors and some of it also came from the couple of negative starts for the day and then trying to grind it back towards breakeven. If I had some equity built in there were a few trades that would have definitely benefitted me as in current state I didnt want to risk even 10 ticks on 1 lot. As it happens in these circumstances both were perfect reads. One for 50 tics other one for over 200. The first one came when I had only $250 left on max drawdown. Hard to put 1/2 of it on a trade when you'll be sleeping and cant really watch it. I know TST doesnt allow overnight trading for live accounts so I am ok with missing these trades. I have one set for sunday night, lets see if it trades at a level I am comfortable with to put it on and see if it works. At least now I have the 10 tics stop to afford.

What really matters is the trading during the day. I Think my + or - $$ depends more on my mental state than anything else. Hence the focus on mental gain for Friday. I was up early on friday and completely missed the run up. I am not a chaser rather a sniper. Focus, set, ready, shoot...reload.

As far as the combine goes, I have another max 10 trading days I can use. I have been thinking whether I want to go for the home run-the profit target still $4500 away from here or just get a rollover which is only a $1000 away. The rollover I can pretty much get this week if I want to put my mind to it. If I get the rollover I can reset all my stats and start all over new. Not that the stats are bad or anything as of now-they actually turned around nicely on friday esp the hold time on winners. With a new combine comes the added pressure of starting all over again too. This one you are already in flow.

Things that are clearer to me from my combine so far (you can feel free to add if you want, since the owner has only his side and maynot see it as subjectively as someone standing away and observing)

1. I am a fighter. Even on down days I can shrug off and come back to close even, this has been the case on at least 4 days. Over all in bigger plan this helps out a lot. Closing a -450 days vs 45 profit is huge acheivement. Big + there for me.

2. I tend not to respect boundaries. I set myself a DLL at starting of $500 not the combine 1k but 3 times I exceeded that. Whether its execution errors or something else I need to respect that. I think TST gets kudos for having a DLL. The days I exceeded $500 DLL I came from +200 or so, SO in fact I went down more than $700. A big no-no. Big -ve for me there. Going forward its going to be a rolling $500-start with max $500 DLL, if I am positive 300 then DLL drops to -200 for the day. I am going to post a sticky for this in front of me so I remind myself all day.

3. I have traded only 1 lots mostly. I have traded 2 lots occasionally. Mostly when I feel things are going my way. I dont think there is an edge here. You make profit with 1 lots and give it back with 2 lots. Its happened to me a couple of times already. Part of the reason for trading 1 lots was to build a cushion and part of it was the ease of handling it on T4. If you enter 2 lots then U got to revise etc. Not the easiest thing to do when things get busy. If you put 2 , 1 lot trades you can move it around faster. So I call this a scratch. Something that needs improvement. Days I am feeling good I will start with 2 lots.

4. I am still not comfortable with T4. I have worked tirelessly and placed 100's of trades so far on both practice and combine account. I am using the simplest setup so no more execution errors to blame. Walking a tight rope until I finish the combine. Right now I use Auto OCO with reset on vol and order type. After the order is in the stop and profit target by default are on and I cancel the profit target right away and manage the profit manually and the stop stays. Once I take profit, cancel all orders. This has two benefits--first no standing orders are left, ever. I always have my working orders window visible and this has been my experience from trading stocks too. Always having working orders window open, knowing if something is open or sitting far away from current price. Second cancelling orders is only one button to hit, less chance of anything drastic happening. Just a redundancy measure that I have in place, will help a lot in live trading too. Trading this way will also help if price takes off immediately after I enter. The stop prevents the disaster, yet allows me to capture the upside. It doesnt happen often but at least when it does (1 time so far) I can sit and let price complete the cycle before I take profit instead of a quick hit to profit target and then watch it go another 40-50 ticks. So I think its a +ve that I have found a workaround a platform thats still having issues ( you can find people struggling with T4 issues all day in their room).

5. My stats on combine look ok now but earlier it was really short time for winners and long time for losers. I was letting losers hang out and wait till a setup failed or something. Its just been my personal experience that when you have a good setup and a proper stop, the set up maynot work but it might take some time for market to digest and negate your setup. As an example if you bought the pullback on friday for another continuation move and price just chopped around say .10 above your stop but below your entry, after a certain amount of time you are going to take the trade off no matter if its a loss or a gain. If you are lucky that your entry was below the price you are trying to exit, no matter how small 1-2 tics it will add a huge time factor to your trade and so also with the loser. This is a useless stat imho. I have been able to ignore pretty much all the combine stats so far, since they dont really pertain to my type of trading. I will share the spreadsheet once I am done since I dont have a software to do it and have to do it manually.

6. I havent had a blowout. This is the biggest and huge +++++++++ for me. The biggest mental + thing I can take from the combine if anything. My back was against the wall last weekend with only $250 left to max drawdown. I took some tight trades with only .05 risk and they worked. Slowly built it up. It truly was a mental struggle more than anything. The biggest trade opportunity came sunday night too. It was nailing the bottom, yet I had to pass on it cause I couldnt afford to. This was the biggest challenge and test. I thought about how I would feel if it didnt work out and how I would feel if it worked out. However, I shrugged it off Monday morning after seeing it had worked out and I didnt take it so on to next one. From then on it was two steps forwards one back until Friday and ended friday on high note.

So as of this day as the combine stands, to me its not if I finish postive (which is the goal), complete the combine(the ultimate objective of the whole exercise) or fail (also a possibility) but rather how I do it. If I blow up on DLL, I will hang my head in shame. If I fail and end in negative but I trade well I will still stand proud. The strategy is what has kept me in the game so far even with execution errors. So I know it works. If I fail not trading well and trying to go for the profit targets then also its a pathetic thing. Trading well is the objective in a good mental state. The $$ has always been there when a+b is there.

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  #59 (permalink)
Elite Member
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Favorite Futures: CL ES 6C 6E
 
Posts: 254 since Oct 2012
Thanks: 197 given, 438 received

I can share the overnight trade right now cause i dont think its going to pan out. It was based on Iranian elections and I think Oil is going to fall hard at least down to the 96.28 area and possibly 94.68. My idea was to short around 97.89 to 98.06 area with a .10 stop. Will still do it if I can get these prices but I think its going to open below 97.50ish and have a hard fall overnight. Anyways, just wanted to post it now so no one can claim a literal Monday morning quaterback.

This is one of the most inspirational quotes especially for trading that I have found in my trading career. I have these sayings plastered all over the walls at different places. Some even in the bathroom. You really need em when you are down and seemingly out.

"“You are never given a dream without also being given the power to make it true. You may have to work for it, however.”


― Richard Bach

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  #60 (permalink)
Market Wizard
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garyboy275 View Post
This is one of the most inspirational quotes especially for trading that I have found in my trading career. I have these sayings plastered all over the walls at different places. Some even in the bathroom. You really need em when you are down and seemingly out.

"“You are never given a dream without also being given the power to make it true. You may have to work for it, however.”


― Richard Bach

Good one! Sometimes really hard....

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