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A TopStepTrader's Real Money Combine
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A TopStepTrader's Real Money Combine

  #51 (permalink)
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All I can do is try to trade well

All I can do is try to trade well.

I did not touch my target.

It was at 10-ticks though I was tempted to take the quick fix route to tidy up my combine statistics.

My mind was on fire and my pulse was racing.

I sat on my hands.
I sat on my hands.
I sat on my hands.
I sat on my hands.

I whistled. Anything to let the stress pass over me. At the last few moments it was pure torture.

What if the trade reaches 9 ticks and then price collapses?

Wouldn't that be BAD trade management? (Risking 9 ticks of achieved profit to make 1 tick unrealized profit?)

But NO. I held on because I had a belief. I sensed that there will be thousands of trapped traders like me. Who will push the price to my target......


Let's see...

Here is the current chart: will it? won't it?

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  #52 (permalink)
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Target achieved!

It isn't so much that I had a winning trade that mattered to me.

I have crossed over something unsourmountable.

It was painful. It was hard.

Yet I persisted. From one tick winners I graduated to six ticks - today I took all ten.

I wanted to move my stop to 8 ticks once so much in the green.

But I DIDN'T. The action (inaction) mattered.

I did it. I got my ticks.

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i am stopping for the day - it has been a stressful ride.

I know I am in the flow. I want to take more ticks out.

Stopping at a point where my energy is blooming, my systems are alert seems like a stupid thing to do.

I am not in euphoria. Simply that I have confidence that I can do this business alone. Almost bored by it but happy to not be over excited or atleast not AS excited as I used to get like a bundle of nerves.

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  #53 (permalink)
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Approaching trades


Al Brooks says 'You are a trader and not a pattern clerk. Trade what you see not try fitting it into a label'.

I started off trying to trade a first break.

I should have scratched it right away (first break tipping points are very tiney - one or two tick stops suffice if the trade is any good).

However I stayed on (bad discipline, didn;t cut my losers quick).

Then I saw the range break forming.

MIND YOU it had not even broken out above the high. Simply forming.

At that point the trade could really have gone either way.

I kept holding out of 'I know this is gonna win' attitude and that might have backfired.

All in all this was back to dangerous territory.

I need to be more careful.

I need to stop treating bad habits as if they were money-generating clients.

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  #54 (permalink)
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Should I display Profit and Loss?

I am looking for a way on CTS T4 platform to hide the profit and loss number on the contract window (DOM).

It is a distraction and trading well requires minimizing distractions.

Currently I don't think its possible - will ask Brian in the T4 AMA thread.

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  #55 (permalink)
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iqgod View Post
I am looking for a way on CTS T4 platform to hide the profit and loss number on the contract window (DOM).

It is a distraction and trading well requires minimizing distractions.

Currently I don't think its possible - will ask Brian in the T4 AMA thread.

Just make font size smaller and then make a dom narrower - everything will be there except PnL. Still you need to check it before every trade from the accounts window - otherwise you can hit DLL. Just treat whole PnL concept as points, no need to replace it with ticks, since as position size may wary tick count becomes obsolete.

Trade to live. Not live to trade.
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  #56 (permalink)
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xelaar View Post
Just make font size smaller and then make a dom narrower - everything will be there except PnL. Still you need to check it before every trade from the accounts window - otherwise you can hit DLL. Just treat whole PnL concept as points, no need to replace it with ticks, since as position size may wary tick count becomes obsolete.

Thanks @xelaar!

Yes treating PnL as points sounds a great concept - one that I am trying to inculcate by habit.

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  #57 (permalink)
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A Real-Time EURUSD long trade

Apart from the fact that the trend is supportive of the long trade here are a couple of reasons why I took it:

1. No unfavorable conditions

2. No Clustering price action

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However the stop location is the worst part about this trade.

It is called an awkward stop.


An awkward stop is a stop which is technically bad - where can we imagine buyers to come into the market? Most probably (with a imaginative bent of mind, we don't really turn soothsayers) they will come in at the clustering price action where my current stop is!

However now that I've taken the trade I've no option but to wait out till the trade plays itself out.

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  #58 (permalink)
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Pinbar extreme stops

Moving my stop under a pin extreme sounds like a good idea when untested. However I will need to do all the hard work to actually find out

However I suspect the market fakes out a lot of early entrants and then fakes out all the reversal aficionados.

And both contribute to the trend, first party because they have bailed out scared, second one because they tried to fight the trend and can only exit by firing a with-trend order!



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Pinbars can be a good tipping point technique.

However when pinbars form a trendline has been rarely broken hence the probability of trend continuation is high.

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  #59 (permalink)
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Pinbars as warning signs of trend reversal

Not always can pinbars be treated as warning signs.

It makes sense to use them as tipping points ONLY if a major trendline has been broken by a countertrend move.

Remembering: Trends continue much farther than anyone can ever imagine!

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Edit: Though I wanted to point out the hindsight observation that: "Look! The stop would have been correct, look how the trend reversed!" However I need to remind myself that trading is about probabilities and not outcomes.

The WISEST thing would have been to skip the block break since a reversal was probable!

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  #60 (permalink)
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Failed patterns... and inaction vs. action


When I sense a pattern failure and when in the real world I would have scratched the trade in the real world with no questions asked I actually HESISTATE to cut a losing trade short in a combine because I worry about... you guessed it .... STATISTSICS!

In the previous short trade I had traded the block break to the short side and then the double bottom formed.

I was tempted to CUT my postion immediately but didn't.

Then, though I was allowing the postion to continue I still had a tight lease there on it because of the breakout test that occurred soon after and then the bull flag, i.e. a three push bull flag.

Reading the markets has never been a problem lately... just ACTING on the read.

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