Ashmat's Topstep Trader Combine Journal - Trading Journals | futures io social day trading
futures io futures trading


Ashmat's Topstep Trader Combine Journal
Updated: Views / Replies:5,459 / 69
Created: by Ashmat Attachments:93

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
 93  
 
Thread Tools Search this Thread
 

Ashmat's Topstep Trader Combine Journal

  #1 (permalink)
Trading for Fun
Newcastle, CA/United States
 
Futures Experience: Intermediate
Platform: T4
Favorite Futures: Crude
 
Posts: 60 since Aug 2013
Thanks: 0 given, 22 received

Ashmat's Topstep Trader Combine Journal

This forum was created to journal my trade activity during my combine with Topstep Trader. My combine is 20 days in duration and I plan to post both the good and bad in the hopes it will make me a better trader. I plan on starting my combine on Monday, August 12th. Hope my posts are helpful!

Reply With Quote
The following 2 users say Thank You to Ashmat for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Trading for Fun
Newcastle, CA/United States
 
Futures Experience: Intermediate
Platform: T4
Favorite Futures: Crude
 
Posts: 60 since Aug 2013
Thanks: 0 given, 22 received

Day one of the combine


Ready for day one! My plan is to keep it as simple as possible. I'll start small, trading just one contract initially, especially the first few days. If I am able to build a cushion, I can then consider adding another contract. I'll be trading Crude during this combine. I like the volatility and it suits my trading style.

My set up is pretty simple. I use Pivots and simple trendlines and let price action dictate my direction. One thing I need to work on is letting my winners ride a bit longer. I will be focusing on that a lot during this combine and will hopefully have some successes I can note.

Good luck to all the other combine traders out there! I'll start posting my trades today and we'll se how it goes!

Reply With Quote
The following 2 users say Thank You to Ashmat for this post:
 
  #4 (permalink)
Trading for Fun
Newcastle, CA/United States
 
Futures Experience: Intermediate
Platform: T4
Favorite Futures: Crude
 
Posts: 60 since Aug 2013
Thanks: 0 given, 22 received

Day one complete

Well, today was a very short day. I like to get a position near the WTI open and manage it from there. Keeps me from being biased, as I can just concentrate on where price is going. Took a long at 547 based on the break of a short term trendline. I reversed to be short one contract at 537 based on a reversal break of the same trendline. Got 20 points and set stop to B/E. Was stopped out shortly thereafter at 537 as Crude rallied back through the pivot point of 530, but still below the initial trendline of 542.

Short term trend was still down, so I reentered a short position at 531. At this point I was biased toward the downside, which I think is a mistake. I tend to get biased instead of concentrating on my set ups, something I continue to work on. Anyway, I didn't think the short was a horrible trade considering the short term trend was still showing lower. No follow through to the downside, so I got stopped out at 546 because it broke above 542.

Final trade was a short at 542 as it looked like it was going to run back down through that level. Ran about 5 ticks then reversed back up. Got stopped out at 558 and decided to call it a day since the action in Crude was choppy and trading in a narrow range. This strategy does not work in narrow, choppy price action. My stop on this last trade should have been a bit tighter as well.

Positives: I was disciplined and followed my plan. I stuck to what I had planned to do, and with the exception of the last trade, I kept my stops tight and kept myself out of danger. I stopped trading when my plan wasn't working and I just wasn't feeling it.

Improvements: I think I over traded. I am looking for a direction based on the WTI open. When it works, I can take advantage of some strong moves. I think Iíll update my plan and discard the strategy after 3 failed trades. B/E would be considered a failed trade in this scenario.

One more thoughtÖÖ My initial thoughts before I started this combine was to execute the WTI opening strategy and after 3 failed attempts, shift to scalping, which is my true comfort level. Scalping to me is taking 5 to 20 ticks, while keeping stops no wider than 10. While I am determined to prove to myself the opening strategy works, if I donít show positive results from this after a week, I may consider abandoning it and stick to scalping.

Plan for tomorrow: Execute WTI open strategy, abandon after 3 failures if necessary, switch to scalping and hope to have a positive day! Going to paper trade some scalp set ups to prepare for tomorrow.

Reply With Quote
The following 3 users say Thank You to Ashmat for this post:
 
  #5 (permalink)
Trading for Fun
Newcastle, CA/United States
 
Futures Experience: Intermediate
Platform: T4
Favorite Futures: Crude
 
Posts: 60 since Aug 2013
Thanks: 0 given, 22 received

Day two

I was overall happy with my trading today. I implemented my WTI open plan and it worked today. Had two losers and one winner for a nice net gain. I did get a bit side tracked, as I had set up a reversal trade that triggered, but had too many stops left over. As I was replacing the initial stop, I FORGOT to change the DOM to stop mode (S) and ended up getting out of my position earlier than I would have liked. I really need to work on not making those mistakes. Going to tape something to my computer to remind me of this, otherwise I will probably make the same mistake again.

After I took my profits from the opening session, I went into scalp mode. Shorted one on a retracement to settlement, got 8 ticks. Went short on another retest, but only took a couple of ticks as it didn't react as strongly to the downside as I would have liked. Took a couple losing trades at the pivot point, then rode another for a nice profit, though my stop was wider than I would have liked.

The last trade I became biased to the downside and placed my short based on my theory that price was going to blow through the daily pivot. I was lucky it did, but am not happy that I became biased again. The problem with getting biased is I tend to widen my stop more than I am comfortable with. Going to focus on removing directional bias and just focusing on trading my levels. I really like the daily pivots and will work on fine tuning better entries.

Positives: Stuck to my plan, stayed disciplined

Improvements: Need to work on bias, as that does not fit my trading style. Scalp entries could have been better and I failed to pull the trigger on a couple decent set ups.

Same for tomorrow, but I will work on better entries so I can minimize my downside risk a bit better. Really going to study key support levels and how price reacts. Crude is a new instrument for me, so not quite used to it yet.

Reply With Quote
The following 2 users say Thank You to Ashmat for this post:
 
  #6 (permalink)
Trading for Fun
Newcastle, CA/United States
 
Futures Experience: Intermediate
Platform: T4
Favorite Futures: Crude
 
Posts: 60 since Aug 2013
Thanks: 0 given, 22 received

Day 3 of the combine

I have NO idea what I was doing today. =) I took a WTI open trade and took 8 ticks profit. I did not know how the market would move before the EIA number, so I decided it might be best to watch. I did take a couple scalps, one break even and one for a small loss.

Once the number came out, I waited to see what it would do to the dayís high. It broke through to the upside, then back down. I took a long at the dayís pivot and this is where I just lost it. I closed it at B/E, too worried about taking a loss. Good trade, poor execution. It broke above the previous high, so I went long again. I donít think it was a bad trade, rallied a bit, then stopped out for a small loss. I then sold on the breach of the previous high, reversed long and then as CL fell below the level, I forgot I had a trading plan and proceeded to catch a falling knife. I got cut to shreds. =) I stopped trading at my personal daily loss limit of $600. Combine calls for $1000.00.

Anyway, going to shorten this up a bit. The reason I lost today was because I let emotions dictate my trading and abandoned my strategy. This has been the demise of many a trader, but I refuse to fall into this trap! Having successfully traded before, I know what I have to do. Now I just need to do it. Iím getting caught up in the wrong things, like being new to Crude. Thatís a lame excuse. While CL does have certain characteristics I like, trading is trading, and my plan should work well for Crude. Just have to execute and quit trading scared.

Positives: Started off on the right foot, kept to my daily loss limit and stopped trading when I hit it.

Improvements: Stopped following my plan, chased trades, and traded scared.

Plan for tomorrow: Going to abandon my WTI open strategy, as I have to react way too quickly and am not really trading off any significant levels. I may place trades before the WTI open depending on levels, but for now I will focus on key levels that the market actually looks at. I believe my trading plan is sound if I just have the guts to follow it.

I want to be a full time trader again so bad I can taste it. I believe that if I can get through this combine, I will be well on my way. I LOVE this format!!

Reply With Quote
The following user says Thank You to Ashmat for this post:
 
  #7 (permalink)
Elite Member
Duisburg, Germany
 
Futures Experience: Intermediate
Platform: TWS, NinjaTrader, MT4
Broker/Data: FXCM, Interactive Brokers, Oanda
Favorite Futures: Forex
 
Posts: 129 since Aug 2013
Thanks: 55 given, 44 received


Ashmat View Post
I believe my trading plan is sound if I just have the guts to follow it.

The big question:

Why do you believe that your trading plan is sound? If you can not objectively and honestly answer this question to yourself, then you actually do not believe that it is a sound plan.

And, if you do believe it is sound, then you owe it to yourself to trade it. You will never be happy until you actually trade your strategy. Therefore, the true secret to happiness in trading, trading your strategy - without fail - until you know for sure that it does or does not work.

Excited about your journey and hoping the best for you!

Reply With Quote
The following user says Thank You to JGSmith for this post:
 
  #8 (permalink)
Trading for Fun
Newcastle, CA/United States
 
Futures Experience: Intermediate
Platform: T4
Favorite Futures: Crude
 
Posts: 60 since Aug 2013
Thanks: 0 given, 22 received

I believe my trading plan is sound if I just have the guts to follow it.

Thanks for the response, JG! I do have reasons I believe my trading plan is sound. The only way I will truly know is to actually trade it correctly. I really won't know for sure until I see results from actually following it.

Thanks for the thoughts and the encouragement! I'm taking it to heart!

Reply With Quote
 
  #9 (permalink)
Elite Member
Duisburg, Germany
 
Futures Experience: Intermediate
Platform: TWS, NinjaTrader, MT4
Broker/Data: FXCM, Interactive Brokers, Oanda
Favorite Futures: Forex
 
Posts: 129 since Aug 2013
Thanks: 55 given, 44 received

cool

Very happy that you have a sound plan....Looking forward to reading posts about how you followed it exactly over and over and over again until you are very wealthy.

Reply With Quote
 
  #10 (permalink)
Trading for Fun
Newcastle, CA/United States
 
Futures Experience: Intermediate
Platform: T4
Favorite Futures: Crude
 
Posts: 60 since Aug 2013
Thanks: 0 given, 22 received

No Trading Today


Have to be in Yuba City early today, so no trading. Should resume tomorrow.

Reply With Quote

Reply



futures io > > > Ashmat's Topstep Trader Combine Journal

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
TopStep Trader University College of Trader Development (TSTU CTD) BeansTwoNiner Trading Reviews and Vendors 17 February 1st, 2017 04:30 PM
TST Combine Journal indextrader7 Trading Journals 556 August 28th, 2014 01:16 AM
trader000's Topstep Trader Combine Journal trader000 Trading Journals 71 October 11th, 2013 07:26 PM
My TST Combine Journal allysius2005 Trading Journals 2 April 23rd, 2013 10:11 PM
Why no Ninja in TopStep Combine 9baller The Elite Circle 3 March 15th, 2013 04:54 PM


All times are GMT -4. The time now is 07:57 PM.

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 2017-12-15 in 0.15 seconds with 20 queries on phoenix via your IP 54.163.61.66