A TopStepTrader's Real Money Combine - Trading Journals | futures io social day trading
futures io futures trading


A TopStepTrader's Real Money Combine
Updated: Views / Replies:12,474 / 160
Created: by iqgod Attachments:70

Welcome to futures io.

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

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

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

Reply
 70  
 
Thread Tools Search this Thread
 

A TopStepTrader's Real Money Combine

  #111 (permalink)
Trade Wise, Trade Well!!
Des Moines IA USA
 
Futures Experience: Advanced
Platform: InverstorRT, NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: ES
 
MarketPilot's Avatar
 
Posts: 114 since Oct 2012
Thanks: 86 given, 109 received


iqgod View Post
The problems are:

- missing good trades - I have addressed this by precisely defining entries, so moving on.....

- occasionally ignoring stop-loss levels

- taking quick sure profits

I had another thought to share... I solved taking quick sure profits by doing exactly that. I enter with maximum size (currently two) and scale out the first half (1) contract at a close target. Now I a can trade at ease and let the remaining position run. Once the first easy target is reached, the worst case is a break even trade. I realize this is added risk when entering the trade, but for me the reward of keeping my Monkeys (emotions) out of my trading out weights the increased risk.

On the Stop Loss side... I use Ninja Trader ATM to place my default max stop. I should only "tighten" the stop from the initial position.

Hope this helps.

Trade Wise, Trade Well

John
Reply With Quote
The following 2 users say Thank You to MarketPilot for this post:
 
  #112 (permalink)
Elite Member
Mumbai, India
 
Futures Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
 
iqgod's Avatar
 
Posts: 1,659 since Feb 2012
Thanks: 3,312 given, 2,719 received

Scaling out


MarketPilot View Post
I had another thought to share... I solved taking quick sure profits by doing exactly that. I enter with maximum size (currently two) and scale out the first half (1) contract at a close target. Now I a can trade at ease and let the remaining position run. Once the first easy target is reached, the worst case is a break even trade. I realize this is added risk when entering the trade, but for me the reward of keeping my Monkeys (emotions) out of my trading out weights the increased risk.

Thanks! Yes there is a lot of value in this suggestion. This was what I was doing in my $150,000 combine.

However for the $30,000 combine there is a lot less fire power for scaling out and it becomes a thin line between passing and losing when the full position goes against you from the first tick.

Though I must add that even now when I am a one lot trader in the $30,000 combine I can actually take on the risk of an additional lot (start with a 2 lot position) and then apply this scaling. Even with 2 lots a 10-tick stop puts me at risk of a full stop-out which is only 50% of the DLL which is affordable and is also less than the golden 1% risk per trade.

Thanks!



MarketPilot View Post

On the Stop Loss side... I use Ninja Trader ATM to place my default max stop. I should only "tighten" the stop from the initial position.

Discipline! Discipline! Discipline!

That's great!

Reply With Quote
The following 2 users say Thank You to iqgod for this post:
 
  #113 (permalink)
Trade Wise, Trade Well!!
Des Moines IA USA
 
Futures Experience: Advanced
Platform: InverstorRT, NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: ES
 
MarketPilot's Avatar
 
Posts: 114 since Oct 2012
Thanks: 86 given, 109 received



iqgod View Post
Thanks! Yes there is a lot of value in this suggestion. This was what I was doing in my $150,000 combine.

However for the $30,000 combine there is a lot less fire power for scaling out and it becomes a thin line between passing and losing when the full position goes against you from the first tick.

Though I must add that even now when I am a one lot trader in the $30,000 combine I can actually take on the risk of an additional lot (start with a 2 lot position) and then apply this scaling. Even with 2 lots a 10-tick stop puts me at risk of a full stop-out which is only 50% of the DLL which is affordable and is also less than the golden 1% risk per trade.

I know what you mean about the 30K combine. I ruled it out as an option for me because I could not trade 2 lots initially and support three consecutive losing trades of up to 2 points each. Once you have initial profits, you could then try to increase to the 2-lot trading as long as you maintain profitability. But that is another complexity I'm still wrestling with.


MarketPilot View Post
TST Combine Analysis - can jump to this post with the above link.


Trade Wise, Trade Well

John
Reply With Quote
The following user says Thank You to MarketPilot for this post:
 
  #114 (permalink)
Elite Member
Mumbai, India
 
Futures Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
 
iqgod's Avatar
 
Posts: 1,659 since Feb 2012
Thanks: 3,312 given, 2,719 received

A recap of all the MISSED trades of Friday (missed because I was emotionally drained to actually trade)

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


This made me itch to trade it to the upside which was countertrend - seems like I still have these itchy moments and will always do - I've to fight these and trade!

The right thing to do is WAIT and let the trading range resolve itself and trade it towards the downside as it breaks out of the range after the three-push pattern is complete.

Reason for the itch?

"It must beak to the upside! It MUST! It HAS TO! It WILL!"

!!!!

Whenever I get into this 100% prediction mode I am back to novice, back to square one.


Last edited by iqgod; July 7th, 2013 at 03:42 AM.
Reply With Quote
The following user says Thank You to iqgod for this post:
 
  #115 (permalink)
Elite Member
Mumbai, India
 
Futures Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
 
iqgod's Avatar
 
Posts: 1,659 since Feb 2012
Thanks: 3,312 given, 2,719 received

Here is what I actually did (in SIM SIM not TST SIM), I entered long, NOTE: here emotional state was telling me NOT to:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


A test of the open is a high probability event so I took the long.

Reply With Quote
The following user says Thank You to iqgod for this post:
 
  #116 (permalink)
Elite Member
Mumbai, India
 
Futures Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
 
iqgod's Avatar
 
Posts: 1,659 since Feb 2012
Thanks: 3,312 given, 2,719 received

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Critical juncture - 10 minutes have elapsed and the trade is still in the red.

Unless I am QUICK to cut losers the combine can very well end badly.

Also such trades stay in red solely because of ENTRY HESITATION.

Entry hesitation may be because:

- I am taking a countertrend trade, a losing proposition

- I see SOME reasons for taking an entry but the overall price action and market structure is not supportive of taking this trade.

The Golden Rule in such cases?

SKIP THE TRADE.

Reply With Quote
The following 2 users say Thank You to iqgod for this post:
 
  #117 (permalink)
Elite Member
Mumbai, India
 
Futures Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
 
iqgod's Avatar
 
Posts: 1,659 since Feb 2012
Thanks: 3,312 given, 2,719 received

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


A red trade is a scary thing for me that still kicks in the thought demons.

It is a walk in the park when I accept that losing trades are a part of the game.

However when a promising reversal bar sets up in this fashion it becomes a HUFFF.... compressed air is released from the lungs relieving you of anxxiety.

However such perfect bars (and perfect patterns) mean only one thing - they are created in a way that EVERY participant can see them and postion themselves in the obvious direction after which the big players are free to take out everybody's stops.....

So to myself: beware when market action lowers stress i.e. when you allow the market to regulate your thinking instead of guide it.

Reply With Quote
The following user says Thank You to iqgod for this post:
 
  #118 (permalink)
Elite Member
Mumbai, India
 
Futures Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
 
iqgod's Avatar
 
Posts: 1,659 since Feb 2012
Thanks: 3,312 given, 2,719 received

"The trade hits my stop"

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


... and as my little being was proved right, the trade took out my full 10-tick stop. I could have moved the stop earlier to the bottom of the range which would have caused only half the pain but didn't (lesson no.2)

REMINDER: (again) Never trade against the immediate trend. (lesson no.1)

Reply With Quote
The following user says Thank You to iqgod for this post:
 
  #119 (permalink)
Elite Member
Mumbai, India
 
Futures Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
 
iqgod's Avatar
 
Posts: 1,659 since Feb 2012
Thanks: 3,312 given, 2,719 received

Some lessons in discipline...

It is obvious that to pass the combine I need to:

- Ruthlessly cut positions that do not get into green territory within a minute.

- Ruthlessly move my stops to tighter locations even in face of the higher risk of them being hit.


In essence the strategy was ALWAYS to tighten the stop.

But the most important thing is to:

- Always take the valid trades.

- Avoid these lesser trades (e.g. against trend, obstructed by visible chart resistance etc.)

It is simple but not easy.

Reply With Quote
The following user says Thank You to iqgod for this post:
 
  #120 (permalink)
Elite Member
Mumbai, India
 
Futures Experience: Advanced
Platform: ChartNexus
Favorite Futures: Stocks, Commodities, Futures
 
iqgod's Avatar
 
Posts: 1,659 since Feb 2012
Thanks: 3,312 given, 2,719 received

I WILL NOT LOOK FOR REVERSALS


I WILL NOT LOOK FOR REVERSALS.

I WILL NOT LOOK FOR REVERSALS.

I WILL NOT LOOK FOR REVERSALS.

I WILL NOT LOOK FOR REVERSALS.

I WILL NOT LOOK FOR REVERSALS.

I WILL NOT LOOK FOR REVERSALS.

I WILL NOT LOOK FOR REVERSALS.

I WILL NOT LOOK FOR REVERSALS.

I WILL NOT LOOK FOR REVERSALS.

I WILL NOT LOOK FOR REVERSALS.

I WILL NOT LOOK FOR REVERSALS.


Weekend punishment completed.

Reply With Quote
The following 2 users say Thank You to iqgod for this post:

Reply



futures io > > > A TopStepTrader's Real Money Combine

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Webinar: TopstepTrader's Combine Program In-depth Big Mike Trading Reviews and Vendors 16 July 23rd, 2016 10:35 AM
omni72's 20-Day Combine with TopstepTrader (TST) omni72 Elite Trading Journals 109 December 11th, 2014 01:14 AM
TopStepTrader Custom Combine vercetti Trading Reviews and Vendors 3 May 20th, 2013 06:59 AM
mmarco's 20-Day Combine with TopstepTrader - Take 2 mmarco Elite Trading Journals 12 March 14th, 2013 02:27 AM
mmarco's 20-Day Combine with TopstepTrader mmarco Elite Trading Journals 44 February 12th, 2013 06:14 PM


All times are GMT -4. The time now is 07:15 AM.

Copyright © 2017 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
Page generated 2017-12-13 in 0.16 seconds with 20 queries on phoenix via your IP 54.196.182.102