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FredDecker's Trading Journal


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FredDecker's Trading Journal

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  #1 (permalink)
FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Date: 8-7-2013

Trades: 1

Plan followed? Yes

Hello everyone! I am a Combine Trader at Topstep Trader. I welcome constructive thoughts and comments anyone might have.

Daily Trading Goal: Last night my friend JPreston suggested to me that the trading journal and the trading plan were reciprocally supportive documents. Writing in the journal suggests ideas which need to be added to the trading plan, and the structure of the trading plan encourages good practices which are recorded in the journal. Today my goal was to execute a plan for handling multiple trades within the same day -- an idea taken from my trading journal and added to my plan.

Best & Worst Trade of the Day: My best trade today was having the support telephone number for TsT written down in the back of my trading journal. A hail storm knocked out power and I was able to call Erin in support and ask her to cancel my working order to buy the bonds. Thanks Erin!

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  #3 (permalink)
FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received


Trades: 1

Plan Followed? Yes

Daily Trading Goal: Yesterday I added a new feature to my trading plan based on observations from my trading journal -- at 10:30 CST each day I need to check off on my range trading strategy and take appropriate action. Better journaling has helped me develop my trading plan.

Best & Worst: I followed through on my goal -- even though the range strategy in NQ did not set up. My bond trading strategy made + 8. After the bond trade I checked my outcomes in ZB for my current Combine to see if I could size up to 2 contracts in my bond trades. My plan calls for me to size up when the strategy is + $700. I am + $360. I will stay with one lots, but I feel good about having the level in my trading plan before the Combine started.

Quote of the Day: "The outcome of the trade does not control whether the trader was wrong or right." Bob Iaccino

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  #4 (permalink)
Sayounara
Yokohama South Korea
 
 
Posts: 116 since Nov 2012
Thanks: 99 given, 72 received

Hello Fred! it's great to see you here! I've benefited quite a bit from listening to your interaction with Dr. Menaker on Squawk radio. you ask brillant questions, many of which were that I'd have liked to ask but didn't know how to phrase. I'd like to thank you for that and I'm looking forward to read more of your journal.

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  #5 (permalink)
FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Thanks Sayounara! I enjoy Dr. Menaker. He offers a perspective on the trading challenge which I don't see anywhere else!

Trades: 2

Plan Followed? Yes

Daily Trading Goal: I've taken all opportunities my strategies have offered this week and I have built a profitable week going into Friday's action. No matter what happens today I want to make sure I finish the week positive.

Best & Worst: I followed through on my goal of ending the week positive. Both trades I took today were executed correctly. I lost - $125 on my NQ trade and - $130 on my ZB trade. I struggle to view well executed trades with losing outcomes as "good trades." I try to judge my actions and not my outcomes, but I am only partially successful.

Looking forward to next week I have the USDA Crop Production report scheduled for Monday, 8/12/2013 at 11:00 CST. There are 7 red star economic releases. Thursday looks like the heaviest news day.

Quote of the Day: "You have to be willing to let the money flow in and out of your hands." NEBRASKA

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  #6 (permalink)
 kevinkdog   is a Vendor
 
 
Posts: 3,004 since Jul 2012
Thanks: 1,598 given, 5,971 received

3 for 3 with "plan followed" - very good! Assuming you have a comprehensive, well thought out plan (I'm guessing that is the case, based on what I know about you), following it is a major thing.

I bet that 90% of people out there can't consistently follow their plan...

Keep up the great work!


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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Hello everyone! Thanks kevinkdog for your kind thoughts -- and all your help! For those who don't know kevinKdog is a heavy hitter but also a down to earth and positive guy. I have been lucky enough to learn some great ideas from him (which I am working on every day!)

Trades: 1

Plan Followed? Yes

Daily Trading Goal: I had a dilemma today: I had multiple planned trades setting up for today, but my trading plan has a rule: shut down for the day if the first trade of the week is a loser. I had to prioritize between my setups. I chose to trade the USDA Crop Production Report straddle setup, which has both a higher winning percentage and a higher expected outcome than my Sneak Attack Bond Trade. I made the decision in favor of ZC over the weekend -- when there was no pressure on my decision making.

Best & Worst: I followed through on my Daily Trading Goal and preparation paid off in my outcomes today. I am mainly working to follow through on my Daily Trading Goal to encourage correct actions, build self-trust, and so on. I hope good outcomes will be a by product of good trading actions over time. Today was a milestone day, which I will allow myself to take a little pleasure in!

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 0

Plan Followed? Yes

Daily Trading Goal: I talked to my friend JPreston after the close yesterday. He reminded me to "beware of give-back days after successful winning days," -- which Monday was for me. My goal for today was to follow JPreston's good advice and be deliberate in taking only planned trades.

Best & Worst: I followed through on my goal, though it was a challenge to my psychology. I had 2 possible set-ups today, but neither one fulfilled my pre-conditions for a trade, so I took no trades. No trades was a good trade today.

My plan calls for me to not trade Wednesday to Friday of options expiration week. After one trade on Monday I am done for the week! I hate to sit on the sidelines -- especially in a news-heavy environment, but experience has taught me I don't do well in unpredictable volatility of options expiration. I will try to view the rest of the week as a back testing opportunity!

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 0

Plan Followed? Yes

Daily Trading Goal: My plan calls for me to not trade during Wednesday to Friday of options expiration week. My goal is to take trades in my practice account to keep my execution skills sharp and try to create extra time for catching up on my back testing projects.

Best & Worst: I dislike sitting on the sidelines. If my strategies have an edge, then I need enough trades for my probabilities to play out in my favor. My research shows I don't trade well during options expiration, so I've adjusted my plan to not trade during options expiration. I think I made progress today in my psychology and in accepting inaction as a good trade.

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  #10 (permalink)
FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received


Trades: 0

Plan Followed? Yes

Daily Trading Goal: I am on the sidelines for another day due to options expiration week, which gives me an opportunity to move forward with my multiple back testing strategies. There is some urgency to this work -- I only trade one of my key strategies when the equity curve is above its 20 day moving average. I am concerned I will be starved for trading ideas when the equity curve for this strategy falls below its 20 day moving average and my plan calls for me not to trade. I need to develop new ideas to compensate.

Best & Worst: I followed through on both aspects of my Daily Trading Goals -- I took my planned trades in my practice account and continued working on my back test ideas. I am looking forward to action on Monday!

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  #11 (permalink)
 JGSmith 
Lübeck, Germany
 
Experience: Intermediate
Platform: NinjaTrader, MT4
Broker: FXCM, Interactive Brokers, Oanda
Trading: Forex
 
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FredDecjer View Post
Plan Followed? Yes

Very refreshing to see people following their plan so consistently; and, as kevinkdog said, that assuming you have a well thought out and comprehensive plan, then it will do well.

Keep up the good work.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

JGSmith -- Thank you for your comment! I am trying to focus on my actions (which I can control) rather than my outcomes (which I cannot). I am only partially successful -- it's hard for me to execute a trade properly, take a loss and really believe I have taken a good trade to the same extent I would if the outcome was profitable.

Trades: 0

Daily Trading Goal: Today is my last day of sitting on the sidelines before returning to live action on Monday. My goal is to continue my dual focus of executing my normal trades in my practice account while continuing my back testing.

Best & Worst: Not trading has been a challenge to my psychology -- doubly so because my practice account trades have been so successful this week. My normal strategies made $960. I updated my options expiration week test results to include this new data. It is possible my decision to not trade options expiration week was wrong, but it's too early to tell I think. One week which is a statistical out lier is not sufficient reason to alter my plan.

What Did I Learn Today? Kevin Davey gave another terrific presentation on his experience trading the Combine. I look forward to reviewing Kevin's talk on the Topstep Trader video archive.

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Sayounara
Yokohama South Korea
 
 
Posts: 116 since Nov 2012
Thanks: 99 given, 72 received

hello Fred. I've also begun to recognize the importance of avoiding certain trading days. each week I have 3-4 profitable days mixed with 1 or 2 blowup days. if I could avoid those blowup days I'd be fantastically profitable :-). but I just can't figure out which 1 or 2 days to not trade. :-(

one of my trading philosophy is - "every day in trading, there are people who make money, why can't I always be one of them?" so far I have failed to do so. but I just couldn't give up the idea. I kept thinking that if I get good enough then I wouldn't have a losing day at all. and by my own trading experience I had glimpsed that it might not be an impossible goal. however it's so hard to achieve sometimes I ask myself why bother? why not just become a mediocre trader. why do I keep driving myself up the wall?

I don't know why I'm telling you this. it's probably that you're doing something that was nearly impossible for me to do, however it has become quite urgent for me to decide whether or not to keep fighting everyday or to select the days to fight. it's so difficult to change, it feels like giving up.

so anyway, I just admire your discipline to stick to your plan. and I'd like to acknowledge that what a difficult thing it is.

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 kevinkdog   is a Vendor
 
 
Posts: 3,004 since Jul 2012
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Sayounara View Post
hello Fred. I've also begun to recognize the importance of avoiding certain trading days. each week I have 3-4 profitable days mixed with 1 or 2 blowup days. if I could avoid those blowup days I'd be fantastically profitable :-). but I just can't figure out which 1 or 2 days to not trade. :-(

one of my trading philosophy is - "every day in trading, there are people who make money, why can't I always be one of them?" so far I have failed to do so. but I just couldn't give up the idea. I kept thinking that if I get good enough then I wouldn't have a losing day at all. and by my own trading experience I had glimpsed that it might not be an impossible goal. however it's so hard to achieve sometimes I ask myself why bother? why not just become a mediocre trader. why do I keep driving myself up the wall?

I don't know why I'm telling you this. it's probably that you're doing something that was nearly impossible for me to do, however it has become quite urgent for me to decide whether or not to keep fighting everyday or to select the days to fight. it's so difficult to change, it feels like giving up.

so anyway, I just admire your discipline to stick to your plan. and I'd like to acknowledge that what a difficult thing it is.


Would imposing a daily loss limit on your trading prevent or minimize the blowup days, while leaving most of the profitable days intact?

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Sayounara
Yokohama South Korea
 
 
Posts: 116 since Nov 2012
Thanks: 99 given, 72 received


kevinkdog View Post
Would imposing a daily loss limit on your trading prevent or minimize the blowup days, while leaving most of the profitable days intact?

I think so, but I'm not sure.

things usually go very smoothly on my winning days. I've high winning percentages and fantastic R:R.

but there are also days when I had to struggle, suffer a drawdown then turn it green, after-trade-analysis generally indicate that such days are caused by errors in my decision-making that could have been avoided.

and then there are the downright losing days, during which I couldn't come back from initial drawdowns and at some point I'd just snap and forget all about trade-management, risk management etc.

the major cause of that is psychologically I can't accept a losing day. when one does occur I'd pour over it to look for ways to modify my decision making process to turn it green. so far I've always been able to do this successfully. but it does have consequences. one is that by modifying the way I trade after a losing day, I render my previous winning records useless. and my trading method is completely intuitive, so it's almost impossible for me to backtest reliably.

I'm slowly coming to terms with the necessity of having a daily loss limit. but accepting that equals accepting I can not make money every day. I think I still require some additional beating from the market before really grasping it. https://futures.io/images/smilies/gtn/pcguru.gif

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 kevinkdog   is a Vendor
 
 
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Sayounara View Post
I think so, but I'm not sure.

things usually go very smoothly on my winning days. I've high winning percentages and fantastic R:R.

but there are also days when I had to struggle, suffer a drawdown then turn it green, after-trade-analysis generally indicate that such days are caused by errors in my decision-making that could have been avoided.

and then there are the downright losing days, during which I couldn't come back from initial drawdowns and at some point I'd just snap and forget all about trade-management, risk management etc.

the major cause of that is psychologically I can't accept a losing day. when one does occur I'd pour over it to look for ways to modify my decision making process to turn it green. so far I've always been able to do this successfully. but it does have consequences. one is that by modifying the way I trade after a losing day, I render my previous winning records useless. and my trading method is completely intuitive, so it's almost impossible for me to backtest reliably.

I'm slowly coming to terms with the necessity of having a daily loss limit. but accepting that equals accepting I can not make money every day. I think I still require some additional beating from the market before really grasping it. https://futures.io/images/smilies/gtn/pcguru.gif

It sounds like you really understand your issues, and have spent a lot of time thinking about them and correcting them. Most people never get as far as you do in analyzing themselves. That is really good.

Making money every day is really hard, from my experience. During some of my best years, I'd only have 55% or so winning days in the course of a year. Of course, that is for the way I trade, but hopefully you see my point - winning days aren't necessarily all that important.

Have you ever thought about a longer term focus? Instead of every day being profitable, aim for having every week profitable. That might change your focus enough to eliminate some of those big loss days.

Good Luck!

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  #17 (permalink)
FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Great conversation Sayounara and kevinkdog! I agree with the observation that good trading days can seem so easy. Why can't trading be so easy all the time? I think kevinkdog's thoughts on loss limits are good food for thought. Recovering from blow-out days is hard work!

Trades: 1

Plan Followed? Yes

Daily Trading Goals: My trading plan calls for me to limit risk on Mondays so I don't start the week in a financial hole if my trade outcomes are unfavorable. If my first trade is a loser today I will stop trading for the day.

Best & Worst: I lost - $130 on my Bond trade today and it would have been easy to keep trading -- I think my psychology is stronger on Mondays -- but my plan calls for me to shut down if my first trade of the week is a loser so I did.

What did I learn today? Over the weekend I was thrilled to get a primitive automated back test to run using an Excel spreadsheet. My test reminds me of the Wright Brothers' flight at Kitty Hawk, N. C. My test is flimsy, I need to make improvements so my results aren't gibberish -- but the sucker flew!

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 0

Plan followed? Yes

Daily Trading Goals: My primary goal is to accept opportunity according to my strategies. Secondarily, I want to correct my automated back test results so the data produces reliable results. I thought corrections would be an afterthought, but the task is proving more difficult than I expected!

Best & Worst: No trades set up for me today, so I stayed out -- no trades. In addition to working on my automated back testing strategy I am testing past market reaction to various news releases, trying to locate tradeable opportunities. The EIA Petroleum Status Report comes out tomorrow!

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 kevinkdog   is a Vendor
 
 
Posts: 3,004 since Jul 2012
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FredDecjer View Post
Trades: 0

Plan followed? Yes

Daily Trading Goals: My primary goal is to accept opportunity according to my strategies. Secondarily, I want to correct my automated back test results so the data produces reliable results. I thought corrections would be an afterthought, but the task is proving more difficult than I expected!

Best & Worst: No trades set up for me today, so I stayed out -- no trades. In addition to working on my automated back testing strategy I am testing past market reaction to various news releases, trying to locate tradeable opportunities. The EIA Petroleum Status Report comes out tomorrow!

Great job following the plan! The importance of discipline cannot be underestimated.

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 RTR1701 
London UK
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IG Index
Trading: FX. Futures, Spreadbetting
 
Posts: 78 since Aug 2011
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FredDecjer View Post
Daily Trading Goals: My primary goal is to accept opportunity according to my strategies. Secondarily, I want to correct my automated back test results so the data produces reliable results. I thought corrections would be an afterthought, but the task is proving more difficult than I expected!

Hi Fred

We are definitely going to have a chat over the back testing methods - manual takes way too long and auto has many curve fitting potential issues - what a dilemma!

Best of luck and see you in TST chat.

Cheers

Graeme

Never stop learning - never stop applying the knowledge.
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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

RTR1701 -- Thank you for your comment! I would love to have a discussion on back testing methods and how to improve them! I remember Kevin Davey said we should expect to test as many as 200 strategies to find a tradeable system -- which makes manual back testing even more time consuming!

Trades: 2

Plan Followed? Yes

Daily Trading Goals: I have multiple opportunities which could set up for me today. My homework included all possible outcome scenarios as well as my planned response. I've planned for the worst, now it's time to trade with confidence and reach for the best!

Best & Worst: I executed my trades correctly. Multiple opportunities makes my plan for the day exponentially more complicated. Having my scenarios written out the night before helped me stay on track.

What Did I Learn Today? I re-learned the importance of enjoying the development process. I get impatient with myself for not progressing faster, which doesn't help me and only compounds my frustration.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 0

Plan Followed? Yes

Daily Trading Goal: It's disappointing, but most of my opportunity for this week is past now. My goal is to trade accordingly -- take opportunity as it develops and keep a close watch on my down side.

Best & Worst: I wasn't filled on my order today, so no trades. Going into Friday's action I am up + $7.50 for the week. My trading plan calls for me to make sure I finish the week positive if I am positive going into Friday -- even if I can't trade Friday.

What Did I Learn Today? I heard a good thought from my friend dante: "Although much is said of screen time, I place a premium on quiet time, journal time, and thinking time."

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 MMichael 
Montreal
 
Experience: Beginner
Platform: Ninja
Trading: Futures-oil-gold-forex
 
Posts: 39 since Jun 2010
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Good work Freddy

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 0

Plan Followed? Yes

Daily Trading Goals: My trading plan calls for me to finish the week positive if I am positive for the week going into Friday's action -- even if my profit for the week is so small I can't trade Friday at all. The purpose of my trading is to make money, not to make trades. My goal is to sit out and protect my $7.50 profit for the week.

Best & Worst: My best trade was following through on my goals to not trade. While I was not trading I identified 16 straddle trade opportunities in my research which I want to trade in my next Combine. Who knows how these trades will work out, but I felt confident while adding these trades to my revised trading plan.

What Did I Learn Today? I used the Econoday calendar to map out 16 high probability trades over 13 days for my next Combine. The Combine rules require me to trade 20 days. I have determined 65% of my trades and added them to my plan.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? No

Daily Trading Goal: I am in the waning days of a moribund Combine. My goal for the remainder of the current Combine is to play defense -- protect my positive account balance and preserve my upward sloping Equity Curve. My goal to prepare for my next Combine is to execute my new setups in my practice account, starting with the Durable Goods Orders economic release this morning.

Best & Worst: I did not have a good day today. My psychology was vulnerable. I don't know why. My computer was reacting sluggishly this morning and I couldn't execute my planned Durable Goods practice account trade. Was that the reason? Or was I just "off" today? I don't know. I made + 1 tick in my bond trade.

What Did I Learn Today? There is no harmless way for me to watch an open position. Even if I think I am "just checking" my position, I naturally analyze price movement any time I look at the screen. This analysis can only lead to second-guessing and modifying my strategy as it did today.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goals: My goal for today is to set up my trade according to my strategy and let the trade work. In recent days I've slipped into the attitude that watching my trade is harmless as long as I don't make unplanned modifications to my trade -- but this thinking is wrong. Watching is a constant invitation to analysis of price movement. I will inevitably alter my trade. So I want to concentrate on not disturbing my position.

Best & Worst: I followed through on my planned actions. I have not succeeded in feeling as good about taking the correct actions and receiving a losing outcome as when I receive a winning outcome. I do feel better about today (which was a losing day) than I felt about yesterday (which was a small winner where I second-guessed my strategy.)

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goal: This is the last week of my Current Combine. My goal is to finish this Combine with a higher ending balance than I had in the last Combine. Last night I calculated how much money I can lose these last few days and still achieve a higher balance. Today I will trade in accordance with this limit.

Best & Worst: Without any single outstanding action, I made a series of good small actions. I prepared for the trading session the night before, I avoided watching my charts while in positions, I reasoned in writing why I should follow my trading plan when I was feeling risk adverse following a small profit on my first trade. I felt diligent.

What Did I Learn Today? I took another step forward in preparing for my next Combine by identifying a practice account trade I want to take tomorrow -- a dress rehearsal for a new idea I want to trade in the coming Combine.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goal: I have two trades planned for today: my planned trade for my current Combine and a rehearsal trade for my practice account. I am trying out this idea before trading it in my next Combine.

Best & Worst: I am happier than I should be after my trade outcome was profitable this morning. My account balance is now positive for for the week and my Combine will finish above the profit objective. I won't qualify for funding because of my secondary metrics, but this is the first time I have reached this milestone with an ending balance.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? No

Daily Trading Goal: My goal for the Friday before a three day Labor Day Weekend is balance. I am prone to treat weekends as opportunities for back testing, reading, listening to webinars, and generally losing myself in my trading obsession. I realize there is a negative consequence to obsession: resentment. I don't want to realize someday that I have missed years of my life because I did nothing except trading.

Best & Worst: I modified my Combine account trade and I am disappointed. I placed my Combine order in ZB at the Bond pit open at 7:20 a. m. CST. At 7:30 Personal Income & Outlays was released. I had a practice account trade I wanted to take for the news release. The practice account trade required me to watch the screen and I saw prices move against my Combine position. I felt my impulse trade compulsion surge -- compelling me to click out of my trade.

What Did I Learn Today? Each practice account trade teaches me a little about my new strategy.

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 George 
Sweden
 
Experience: Master
Platform: TT, NT, MetaTrader
Broker: Velocity Futures, MB Trading
Trading: EUR/USD
 
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JGSmith -- Thank you for your comment! I am trying to focus on my actions (which I can control) rather than my outcomes (which I cannot). I am only partially successful -- it's hard for me to execute a trade properly, take a loss and really believe I have taken a good trade to the same extent I would if the outcome was profitable.

Trades: 0

Daily Trading Goal: Today is my last day of sitting on the sidelines before returning to live action on Monday. My goal is to continue my dual focus of executing my normal trades in my practice account while continuing my back testing.

Best & Worst: Not trading has been a challenge to my psychology -- doubly so because my practice account trades have been so successful this week. My normal strategies made $960. I updated my options expiration week test results to include this new data. It is possible my decision to not trade options expiration week was wrong, but it's too early to tell I think. One week which is a statistical out lier is not sufficient reason to alter my plan.

What Did I Learn Today? Kevin Davey gave another terrific presentation on his experience trading the Combine. I look forward to reviewing Kevin's talk on the Topstep Trader video archive.

Hi Fred,

This is geote88. Long time no spoken. I'm glad to see you that you're hanging in there! Eventually its gone bear fruit. I've red your journal and it's nice that you're sharing your thoughts. I wanted to give you some insights in what I'm perceiving that is holding you on the wrong path! You're writing that..."it's hard for me to execute a trade properly, take a loss and really believe I have taken a good trade to the same extent I would if the outcome was profitable."

This is a huge ego part that mainly has to do with your internal mindset. It's huge because many, many traders are suffering from this. Mainly it has do with the way we perceive our outcomes internally leading to a judgemental action. When we experience positive outcomes judgement shines with its absence.

Now....because this part is internal it's very hard to get over it. What traders have to do in this case is to shift focus from result-oriented trading to performance-oriented trading. Keep on judging your outcomes but from the point of performance not the point of your results. It's quite simple and the easiest way to achieve that is by going in with the same mind set you have when you decide to back test something. You're not back testing in order to get a 100% positive results from that, because you know that would be impossible, you're back testing in order to see how well a system performs and what to expect.

Same thing has to be done prior to your start of the trading day, and I do refer to the mindset you'd have to activate.


Second, NOT trading during option expiration day or any other day you've become aware of a bad performance attitude, is good. It means you have a higher awareness of things and that can only benefit you. BUT in case you continue to trade (sim/practice) during those days the only thing that you're going to add to your mental capital is confusion. You're firing off in your brain an ambiguous sort of I would have should have situation. Practising during those days can only harm you in case you're not planing to find ways of getting over your lacks and errors. In case you want to adopt a new experience that can lead you to a way of constructing a foundation of how to overcome yourself during those days when you do not perform well then you should do it. IF not it is much better to stay completely off the markets during those days.

In that way you can distance yourself from the "trading obsession" and get a higher quality of life begin away from the screens. Sometimes life gets easier when we distance ourselves from it, it kind takes us ironically enough closer to our goals that way!

Take care my friend and maybe I'll see you in the combine again some day!
Greetings from Sweden!

/George

We all struggle to make tomorrow look like yesterday!
Get rid of your past and let the future unfold from the now.
Past performance is not indicative of future results.
/George
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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

geote88 -- How nice to hear from you! It is kind of you to share your thoughts with me. I think you are right about the confusion caused by practice trading during options expiration week -- it has already caused me confusion! You make an interesting point about the ego. Maybe that's why I have trouble judging my trades according to my actions instead of by my outcomes: I am stuck in a one trade at a time, one day at a time mentality instead of seeing each discrete trade as meaningless in the scope of the larger process. Thanks for the idea!

Trades: 0

Plan Followed? Yes

Daily Trading Goals: Today is the first day of my 18th Combine and I am starting with a positive attitude. I have 2 trades planned for today -- both in my practice account, according to my trading plan.

Best & Worst: I followed through on my Daily Trading Goals and took both trades I planned to take. The ISM number moved Bond futures 28 ticks, which is the kind of move I am looking for, but my trade lost money. It is good to remember that a positive outcome is never guaranteed.

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 RTR1701 
London UK
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IG Index
Trading: FX. Futures, Spreadbetting
 
Posts: 78 since Aug 2011
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FredDecjer View Post
Daily Trading Goals: Today is the first day of my 18th Combine and I am starting with a positive attitude. I have 2 trades planned for today -- both in my practice account, according to my trading plan.

Fred

I just want to wish you the best of luck with this combine. I know from the limited time I have known you in TST that you work hard to achieve success and I trust that you will achieve it - deservedly!

Graeme

Never stop learning - never stop applying the knowledge.
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 kevinkdog   is a Vendor
 
 
Posts: 3,004 since Jul 2012
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FredDecjer View Post
geote88 -- How nice to hear from you! It is kind of you to share your thoughts with me. I think you are right about the confusion caused by practice trading during options expiration week -- it has already caused me confusion! You make an interesting point about the ego. Maybe that's why I have trouble judging my trades according to my actions instead of by my outcomes: I am stuck in a one trade at a time, one day at a time mentality instead of seeing each discrete trade as meaningless in the scope of the larger process. Thanks for the idea!

Trades: 0

Plan Followed? Yes

Daily Trading Goals: Today is the first day of my 18th Combine and I am starting with a positive attitude. I have 2 trades planned for today -- both in my practice account, according to my trading plan.

Best & Worst: I followed through on my Daily Trading Goals and took both trades I planned to take. The ISM number moved Bond futures 28 ticks, which is the kind of move I am looking for, but my trade lost money. It is good to remember that a positive outcome is never guaranteed.


Hi Fred -

Of your 17 past Combines, can you break down your performance:

A. How many times did you qualify for rollover?

B. How many times did you fail because of max drawdown hit?

C. How many times did you fail because of daily loss limit hit?

D. How many times did you fail for a reason other than drawdown or daily loss limit?


Then looking forward, how is you trading plan different now, to get you from point A above to the profit goal? And, what specifics are in your plan to avoid points B, C and D above?


I think the answers you provide can help others help themselves (and you, too)...

THANKS

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 George 
Sweden
 
Experience: Master
Platform: TT, NT, MetaTrader
Broker: Velocity Futures, MB Trading
Trading: EUR/USD
 
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FredDecjer View Post
geote88 -- How nice to hear from you! It is kind of you to share your thoughts with me. I think you are right about the confusion caused by practice trading during options expiration week -- it has already caused me confusion! You make an interesting point about the ego. Maybe that's why I have trouble judging my trades according to my actions instead of by my outcomes: I am stuck in a one trade at a time, one day at a time mentality instead of seeing each discrete trade as meaningless in the scope of the larger process. Thanks for the idea!

Fred,

You're most welcome. I'm glad you like the idea! If you want to go deeper on the subject of the ego and the mind, make a search on my name in the forum. I've written some posts/articles on the topic in the -Psychology and Money Management section- or start with these:










/George

We all struggle to make tomorrow look like yesterday!
Get rid of your past and let the future unfold from the now.
Past performance is not indicative of future results.
/George
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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Thank you RTR1701, geote88, and kevinkdog for your good wishes and kind thoughts!

In response's to kevinkdog's thought-provoking questions, I have never failed a Combine due to a Max Draw Down hit or a Daily Loss Limit hit.

My Combine-to-Combine results started improving in January, 2012 when I took NEBRASKA's suggestion to "trade for scratch" to heart. I first broke even in Combine 9, which ended July 30, 2012. Since July 30, 2012 I have completed 6 more profitable Combines and 2 unprofitable Combines. My results have generally continued to improve. In Combine 17 (my last completed Combine) I finished with a closing balance of +$2,227.50 -- a personal best, and my first time to end a Combine above the profit objective.

I have earned only one rollover I think. It is usually my secondary metrics which prevent me from qualifying. In the past I haven't paid much attention to the secondary metrics. I considered the Combine profit objective to be my proper focus. Maybe I need to pay closer attention to secondary metrics.

I think point D. has been the biggest problem for me -- how many times I failed because of other reasons. I think the "other reasons" come down to lack of an edge in my trading strategies.

If/when I develop a demonstrable edge, I think I will apply for a Custom Combine tailored to the outcomes of my strategy.

Thanks again for insightful questions and comments! I welcome any more ideas anyone may have!

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 kevinkdog   is a Vendor
 
 
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FredDecjer View Post
Thank you RTR1701, geote88, and kevinkdog for your good wishes and kind thoughts!

In response's to kevinkdog's thought-provoking questions, I have never failed a Combine due to a Max Draw Down hit or a Daily Loss Limit hit.

My Combine-to-Combine results started improving in January, 2012 when I took NEBRASKA's suggestion to "trade for scratch" to heart. I first broke even in Combine 9, which ended July 30, 2012. Since July 30, 2012 I have completed 6 more profitable Combines and 2 unprofitable Combines. My results have generally continued to improve. In Combine 17 (my last completed Combine) I finished with a closing balance of +$2,227.50 -- a personal best, and my first time to end a Combine above the profit objective.

I have earned only one rollover I think. It is usually my secondary metrics which prevent me from qualifying. In the past I haven't paid much attention to the secondary metrics. I considered the Combine profit objective to be my proper focus. Maybe I need to pay closer attention to secondary metrics.

I think point D. has been the biggest problem for me -- how many times I failed because of other reasons. I think the "other reasons" come down to lack of an edge in my trading strategies.

If/when I develop a demonstrable edge, I think I will apply for a Custom Combine tailored to the outcomes of my strategy.

Thanks again for insightful questions and comments! I welcome any more ideas anyone may have!

Thanks. Your results are interesting. Not hitting max drawdown, and especially not hitting the Daily Loss Limit, does show a great deal of discipline. That is really good.

Of course, if you lack a good strategy, all the discipline in the world will not help you. You realize this, so that's a great sign in your development.

With the latest Combine change, you should be in better shape (no need to watch many metrics).

Sounds like you are on the right path - looking for a trading edge.

Good Luck!'

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Thank you to kevinkdog for great comments and thoughts! I appreciate the culture of sharing ideas and helping your fellow traders which I find at Big Mike's Trading Forum and Topstep Trader!

Trades: 0

Plan Followed? Yes

Daily Trading Goals: The economic calendar appears quiet for the first two days of this week. I don't want to get too aggressive. I've identified 3 possible opportunities later in the week which should align with my trading plan. My goal for today and tomorrow is to control my down side, so I don't come into the opportunity rich part of the week trying to recover from heavy losses.

Best & Worst: If patience and discipline are important fundamentals of good trading, then today was a good day for me. I identified one possible trade, placed my order at 7:20 this morning according to my plan, and left my order working until removing it at 2:00 this afternoon -- without being filled. Conditions didn't align with my strategy, so I stayed out. No trades.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 2

Plan Followed? Yes

Daily Trading Goals: I have 2 possible trades which fit my trading plan and preparation. My goal is clean execution, treating my process as more important than individual trade outcomes or trade-by-trade emotional reactions.

Best & Worst: Multiple trade days are complicated for me because of the way I trade: with check lists and alternative "What If?" scenarios. I was pleased to have executed both trades correctly. I completed my CL trade at 9:30 and (re)placed my ZB order just before 9:33 -- 12 seconds before I was filled.

What Did I Learn Today? The equity curve of my bond futures strategy crossed below the 20 day average today, meaning I will not trade the bond strategy in my Combine tomorrow. I won't trade the strategy until the equity curve crosses back above its 20-day moving average. Today I projected the trades I would need to complete my Combine by November 2 to make sure I would have sufficient opportunity to meet Combine requirements -- even without the bond trade (in case the equity curve does not cross back above its 20-day moving average before the end of this Combine).

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? yes

Daily Trading Goals: I prepared my trade for today last night. There is no need for emotional turmoil to compromise my execution. My goal is to be deliberate in carrying out my trade according to my plan.

Best & Worst: I had to meet non-trading obligations this morning. I was tired and mentally scattered when I got to the screen. I used deep breathing to encourage calmness and journaling and my checklist to promote deliberate action.

What Did I Learn Today? Journaling immediately before a trade helps me multiple ways: it provides an outlet for negative emotions, helps me take deliberate actions, and gives me a good way to look back at the trade and know what I was thinking when I took the trade.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goals: I've become more aware of the connection between journaling and preparing my actions thoroughly and my emotional discomfort level and execution accuracy. Today I want to make better use of being as thorough as possible.

Best & Worst: I followed through on my Daily Trading Goal. I feel like I am deepening my skill level using these tools.

What Did I Learn Today? During Dr. Menaker's segment on the market broadcast about the relationship between impatience in trading and lack of satisfaction in general life. Dr. Menaker pointed out that writing gratitude lists was a good remedy for impatience. I like gratitude lists. They help me appreciate the good things in my life. I should rite gratitude lists regularly.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goal: Today I plan to develop a monitoring system to assure the highest probability trades for the remainder of my Combine (identified in my trading plan before the Combine began), while meeting the minimum Combine requirements of 20 days traded.

Best & Worst: I followed through with my plan to develop a system to control and monitor my remaining trades for this Combine. Completing this exercise encouraged confidence and emphasized the importance of process over individual trade outcomes -- an issue I have been struggling with.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goal: I felt the pressures of life pulling me in different directions lately -- trader, husband, father, etc. My trading intentions are good, but as the old saying goes, "The road to Hell is paved with good intentions..." My goal is to stay off the road to Hell by trading according to my plan.

Best & Worst: I overcame the confusion of multiple obligations to execute my trade correctly. I need to remind myself any time I am challenged to act with clarity and confidence, no trade is a good trade under compromised conditions.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goals: Before the start of my current Combine I added a new trade setup to my trading plan -- one which I will take today. I have only been trading this setup a short time and my confidence level has not had time to build up yet. My goal for today is to make limiting risk my top priority.

Best & Worst: My best trade today was reminding myself to be relaxed and methodical in executing my trade -- and to accept missing the trade as a good trade if not properly prepared.

What Did I Learn Today? I am impatient to be the experienced, consistently profitable trader I want to be. I need to accept learning what I can each day and trust in persistence to yield progress.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 0

Plan Followed? Yes

Daily Trading Goal: I've finished trading for the week due to options expiration. I will take trades in my practice account, document my results, and update my weekly performance results to determine whether sitting out during options expiration next month is still in my best interests.

Best & Worst: Following the plan today meant staying out of the markets. I traded in my practice account to accumulate trade outcome data and monitor the results of my plan.

What Did I Learn Today? Dsperry, a trading colleague shared an idea which speaks to my trading style. "A guy told me something I still think about often, 'enter a trade that you can walk away from.' If you believe in the idea and have done what you should do, then you won't care if it stops out."

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goal: The economic calendar is light this week for my trading plan -- especially the first two days. I have one trade which might set up this morning. My goal is to accept opportunity if it arises, but limit risk so I don't dig myself a hole before my first big opportunity of the week -- which comes on Wednesday.

Best & Worst: After my trade this morning I updated my hand-written trading journal, my Electronic Daily Trading Journal, my Electronic Weekly Trading Journal, my Strategy Equity Curve Worksheet, my Trade Outcomes By Strategy Worksheet, and my Trade Controls Worksheet. I also maintain and refer to my trading plan regularly. I feel like I have excellent controls.

What Did I Learn Today? My Combine is at the half-way point today -- I have traded 10 days out of 20. I am comfortable with my progress to this point, but I shouldn't take anything for granted. I need to be diligent in executing my plan and persistent in developing and improving my strategies.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 0

Plan Followed? Yes

Daily Trading Goal: Today is a practice account day for me. My goal is to execute my trades with the same care and attention as if it were a regular Combine trade -- so I can keep my execution skills sharp and accumulate reliable data on my strategy.

Best & Worst: I executed my trade correctly. Today the serial correlation aspect of my trading kept me out of a losing trade. I wonder if I have cause to feel more confident in my strategy. I have been trading it for awhile and grown more comfortable with my execution and accumulated trade data.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goals: Last night I was preparing for today's trading session I noticed the U. S. Government Time Widget I normally use was unavailable due to the government shutdown. I downloaded an alternate time source and checked the EIA web site to see if the Petroleum Status Report would be coming out as scheduled. I saw no notice of any change, so my Goal for today is to take the trade according to plan.

Best & Worst: I felt I adapted well to unexpected developments, and I hope I can continue to do so as the government shut down plays out -- including not taking planned trades if my execution is compromised.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

The federal government shutdown began on October 1, 2013. I planned to trade government economic reports, which have stopped coming out. Rather than entering "no trade" day after day, I have decided to update this journal only when I have taken a trade.

Daily Trading Goals: I've been monitoring developments as a result of the government shutdown and making appropriate changes to my trading plan -- including my latest change which I made Friday. The weekend gave me time to reflect. My goal for today is to carry my idea out.

Best & Worst: I followed through on my Daily Trading Goal. It was a small step forward on my long journey to becoming the consistently profitable trader I want to be.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goal: I have a trade set up prepared. If I can't execute my strategy with clarity and confidence, then I want to be happy not taking the trade. This is options expiration week and my plan calls for me to stay out from Wednesday to Friday. If today's outcome is a loss, then I want to be happy I followed my plan -- not over eager to get my money back the rest of the week.

Best & Worst: When things go well for me I want to push harder and exploit my advantage. My best trade today was realizing my desire to be more aggressive is an emotional reaction. I am better served by being deliberate and adhering to my planned actions.

What Did I Learn Today? I can't control my trade outcomes, but I can choose to view each trade as a small group of trade execution actions (which I can control) within a larger group of strategic trading actions (which I can also control), and know my fate doesn't rest on the whims of chance.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 2

Plan Followed? Yes

Daily Trading Goal: On Friday I laid out my trading plan for Monday and gave myself the weekend to think over what I intended to do. Sunday afternoon I checked in with myself using my long hand Trading Journal and confirmed my plan. My goal for today is to carry out the actions I planned.

Best & Worst: Both my trades lost money today -- which is never fun -- but I am pleased to have carried out today's plan. My best trade was formulating a plan for tomorrow, so I won't need to make strategic decisions during the trading session.

What Did I Learn Today? No trade outcome -- and no Combine outcome -- is ever assured until it is completed. Believing otherwise is an invitation to disappointment. I am better served to focus on intelligent persistence.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 2

Plan Followed? Yes

Daily Trading Goals: I plan to trade the 7:30 a. m. (CST) Employment Situation Report Tuesday morning. Markets on Monday seemed to have a muted response to "stale" data released in the EIA Petroleum Status Report. Will the employment number produce the type of price movement I expect? My goal is to maintain an aggressive trailing stop to limit risk in case it doesn't.

Best & Worst: I value preparing my trading day the day before so highly that I consider laying out my trades for tomorrow to be my best trade of today. I have 2 trades planned, including contingencies depending on if my 1st trade is a winner or a loser.

What Did I Learn Today? No matter how powerful emotions may be they don't last. For me, the satisfaction of trading must arise from taking pride in a job well done when I do the work well.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goal: I have 2 trades planned. I realize I will encounter thoughts and feelings during the day -- possibly as a result of trade outcomes. As Dr. Menaker says, I don't want to trade to manage my emotions.

Best & Worst: I felt like a failure when I couldn't execute my planned trade at the open of the Crude Oil pit session. I wanted to feel happy, because I couldn't execute the trade cleanly -- prices were moving too fast -- so I stayed out. My best trade was journaling this experience to examine my actions and learn what I could. Afterward I felt calm and relaxed and ready for my next trade.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goals: Yesterday I found myself feeling like I had failed after I missed a trade when prices were moving too fast for accurate trade entry. Part of the problem was disappointment -- I expected to take a trade. Today I want to focus on correct actions (not expectations).

Best & Worst: I completed my final Combine account trade for the week with good actions during execution and thorough journaling afterward.

What Did I Learn Today? Talking with my friend the thought occurred to me that our fellow traders' progress is a better indication we are moving forward than our P & L.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 2

Plan Followed? Yes

Daily Trading Goals: Yesterday I added a green light - yellow light - red light personal monitoring system to my trading plan. I wake up with a green light. If I make a mistake (i.e. put my shirt on backwards) that's a yellow light. A second mistake is a red light -- no trading. My goal for today is to incorporate my new procedure into my routine.

Best & Worst: I performed according to plan for the 3 trade opportunities I had today. It was the last day of my Combine, and -- according to my All Accounts Book -- my ending balance is $32,983.75. This is the first time I've hit the profit target and all secondary metrics in a Combine.

What Did I Learn Today? Reaching a personal milestone has been a result of diligence and consistent small steps.

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 kevinkdog   is a Vendor
 
 
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Trades: 2

Plan Followed? Yes

Daily Trading Goals: Yesterday I added a green light - yellow light - red light personal monitoring system to my trading plan. I wake up with a green light. If I make a mistake (i.e. put my shirt on backwards) that's a yellow light. A second mistake is a red light -- no trading. My goal for today is to incorporate my new procedure into my routine.

Best & Worst: I performed according to plan for the 3 trade opportunities I had today. It was the last day of my Combine, and -- according to my All Accounts Book -- my ending balance is $32,983.75. This is the first time I've hit the profit target and all secondary metrics in a Combine.

What Did I Learn Today? Reaching a personal milestone has been a result of diligence and consistent small steps.

CONGRATS! The next step is Live Trader prep! Good for you!!!

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  #56 (permalink)
iankotze
thabazimbi limpopo/south africa
 
 
Posts: 27 since Oct 2012
Thanks: 65 given, 88 received

You are the man Fred, well done!!!

Now just be patient with the process and keep on doing what you have been doing, it is most certainly paying off. Just take your time and don't be rushing anything, it is now all about sustainability.

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  #57 (permalink)
Sayounara
Yokohama South Korea
 
 
Posts: 116 since Nov 2012
Thanks: 99 given, 72 received

Congratulations! Fred, you've done the hard work and it had been a true inspiration. looking forward to seeing you in live action!

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  #58 (permalink)
FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Thank you everyone for your kind comments and encouragement!

Trades: 2

Plan Followed? Yes

Daily Trading Goals: My watch words for trading the live account are "trade as advertised". I want to keep focused on each series of actions in isolation and concentrate on acting in accordance my plan one trade at a time.

Best & Worst: I was able to finish with a small winning day, but more important I took the correct actions. I know there will be losing days, but I want to build trust in myself to trade carefully and consistently.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goals: It is mid-week and I haven't taken a trade yet. My opportunities have not presented themselves, so staying out has been the right move. Today I have a nice opportunity in the EIA Petroleum Status Report. My goal is to concentrate on correct actions.

Best & Worst: My best trade was updating my trade control master sheet to make sure I am tracking my progress toward meeting my Junior Trader account metrics.

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  #60 (permalink)
 Cashish 
Miami FL USA
 
Experience: Advanced
Platform: Ensign 10, NT7 DOM
Broker: IB, IQ
Trading: Currency Futures
 
Cashish's Avatar
 
Posts: 803 since May 2011
Thanks: 811 given, 2,101 received

Well done Fred

Congratulations on your success with the TST Combine and I wish you the best in trading in the coming year. I hope you don't mind me posting this (I'll remove it at your request) but I thought it was one of the best I've listened to (despite the technical issues), again well done. I urge you to let it ride because as stated previously you are "a true inspiration," to many here on futures.io (formerly BMT).

IMO, this is not the time to be humble, it's the time to be proud, again well done Fred (and Elvis ).



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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Thank you Cashish for your generous and encouraging message! I definitely appreciate the positive atmosphere at Big Mike's!

Trades: 1

Plan Followed? Yes

Daily Trading Goal: My opportunity for today is the Opening Range Trade in Crude Oil. My goal is to be deliberate in executing one action at a time in accordance with my planned procedure and checklist -- and accepting my outcome while judging only my actions (the factor I can control).

Best & Worst: My best trade was trusting my plan and accepting risk today despite feeling risk adverse at the end of the day yesterday. Today's outcome was a small loss, but I gave myself a chance to profit without compromising my positive week.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goals: The USDA Crop Production Report comes out at 11:00 a. m. CST. This is a release I trade. In taking this trade I want to remember that no outcome is guaranteed. I can only take correct actions according to my plan and judge my performance accordingly.

Best & Worst: I executed my trade according to my plan and was rewarded with a small profit despite being on the wrong side of the market.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan followed? Yes

Daily Trading Goals: I'm looking for the EIA Petroleum Status Report trade today, as well as planning how to wind down the remainder of the year's opportunity.

Best & Worst: My best trade was allowing myself 15 minutes after my ladder was setup and before I executed my trade to be quiet and still and calm my anxieties.

What Did I Learn Today? One portion of my trading plan which has proven repeatedly valuable is the idea, "If I don't feel confident for any reason I will be happy not taking the trade."

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  #64 (permalink)
FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goals: On 12-3-2013 I wrote in my long-hand trading journal, "Trading is a simple task. Don't complicate it with excessive thinking. Just perform each task as appropriate according to the plan." This idea served as my goal for today.

Best & Worst: My trade was simple to execute, but difficult emotionally -- difficult to be patient through slow holiday markets for Christmas and New Year's, and difficult to re-enter the flow of trading. My best trade was taking correct actions any way.

What Did I Learn Today? A conversation with fellow traders yielded an idea I want to back test: the overnight price action in CL may be predictive of price action at the pit session open and help me determine which days might favor the Opening Range Trade in Crude Oil.

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FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goals: I plan to trade the EIA Petroleum Status Report. If I make enough money, I will try to exploit my advantage by trading the Opening Range Trade at tomorrow's Crude Oil pit session open. If I lose today, I will not trade tomorrow so as to limit my losses for the week.

What Did I Learn Today? I discovered through an execution mistake that the "pull all orders and flatten all positions" button and the "pull all resting orders" button are located in different places on my live version of the T 4 platform compared to the simulator version of T 4.

Best & Worst: I am disappointed I didn't profit more from today's trade, but in view of my execution mistake I feel fortunate to have "lived to trade another day".

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  #66 (permalink)
FredDecjer
Chicago, IL, USA
 
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

Trades: 1

Plan Followed? Yes

Daily Trading Goals: Today is the EIA Petroleum Status Report trade. I've thought and written in my trading journal about this trade and I am clear in my mind how I want to approach it. My goal for today is to execute my plan without second - guessing or deviating.

Best & Worst: My best trade today was taking the difficult -- but correct -- step of surrendering funded account privileges in favor of the TopstepTrader Redevelopment Combine. I am disappointed, but trading is a process and taking correct actions will move me forward faster in the long run than trying to deny reality.

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  #67 (permalink)
Eric B
Fort Worth, Texas
 
 
Posts: 49 since Jun 2013
Thanks: 2 given, 15 received

so in a nutshell, what happened w/ the live account in the last few weeks?

p.s. If you pm bigmike, he'll change your username to its correct spelling. Free of charge, too!

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