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Futurepilot's Topsteptrader Combine Journal


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Futurepilot's Topsteptrader Combine Journal

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  #11 (permalink)
Madison Wisconsin/USA
 
 
Posts: 25 since Aug 2013
Thanks: 0 given, 7 received

Broke the cardinal rule in trading the combine today.....Hit Loss limit, was not taking commissions into consideration. %#$^$ Oh well, back to the drawing board. Hit loss limit trading GC thinking I knew more than the market, not trading the signals on the charts. Went short in CL when the market was trending up very sharply......should have, by my own rules gone long on pullbacks. But didn't and it cost me another combine. I will trade this combine out to continue to develop my discipline and chart reading. My trades follow.
Futurepilot's Topsteptrader Combine Journal-27-aug-2013.pdf

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  #12 (permalink)
Market Wizard
Mumbai, India
 
Experience: Advanced
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Posts: 1,764 since Feb 2012
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I am sorry to hear that.

I have been in your shoes more than once.

Do not despair.

Just firmly embed the lessons learnt in your psyche and hold them close to your heart from where you can make them available when you truly need them.

Peace,
iqgod

P.S.: Share a gist of your learnings. You will be amazed when you come back to it later how much you learn from it.

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  #13 (permalink)
Madison Wisconsin/USA
 
 
Posts: 25 since Aug 2013
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Don't know what happened, but lost yesterday's post.....lost my butt and hit loss limit. I will still trade the combine out and develop my discipline. My trades follow
Futurepilot's Topsteptrader Combine Journal-27-aug-2013.pdf

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  #14 (permalink)
Madison Wisconsin/USA
 
 
Posts: 25 since Aug 2013
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Came back with a clear head today and traded by my rules....CL only. Was very volatile and presented nice moves to make a tick or two. Caught a decent runner after the EIA report, then seemed to chopp the account sideways. a winner a loser, etc. then stopp while I was ahead. Did about 1500 gross trading 2 lots. My trades follow.
Futurepilot's Topsteptrader Combine Journal-28-aug-2013.pdf

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  #15 (permalink)
Madison Wisconsin/USA
 
 
Posts: 25 since Aug 2013
Thanks: 0 given, 7 received

Started out the day good in CL going long on a pullback to support, scaled out and made some money. Tried my hand at adding to a winning trade. It didn't work out. I have yet to see how adding to a winner can be profitable. At least I've never done it successfully. Then the market just chopped my up and I was done (hit loss limit). I will be starting a new combine after the Labor Day weekend. So this one is just for testing strategies. Clearly today's strategy didn't work. So far in CL, by 9am e.s.t. the Oil was flat, really no trades to be taken. I need to find a signal that keeps me out of the chop. My trades follow.
Futurepilot's Topsteptrader Combine Journal-29-aug-2013.pdf

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  #16 (permalink)
Madison Wisconsin/USA
 
 
Posts: 25 since Aug 2013
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Expected more volume and volatility in both CL an GC, but it just wasn't there. Basically traded for scratch losing a lot and then bringing it back. Today was a day to take a trade and scale out and keep one or two for a runner, which never came while I was trading. My trades follow.
Futurepilot's Topsteptrader Combine Journal-3-sep-2013.pdf

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  #17 (permalink)
Madison Wisconsin/USA
 
 
Posts: 25 since Aug 2013
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In typical fashion, I was trading counter trend in GC and lost my shirt, kept adding to loser, rather than get on board the bearish selloff. made a decent trade in CL pre pit open, then never got on board the selloff there either. Trying to figure out why my mind was stuck on bullish for both markets when the charts were screaming BEAR, BEAR, Bear! Maybe tomorrow I'll get on board.
My trades follow, Also, started a new combine, since blew this one up...Did alright there...taking about $500.
Futurepilot's Topsteptrader Combine Journal-4-sep-2013.pdf

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  #18 (permalink)
Madison Wisconsin/USA
 
 
Posts: 25 since Aug 2013
Thanks: 0 given, 7 received

Did fairly well today. Following my rules. I did not hold winners long enough and most of my trades were scalping, but made over $1400 net in both combines. Another thing I did wrong was take a trade counter trend which was a loser and then not getting on board the direction of the market. This was in CL. I had a short signal at resistance of 108.10 took the short and was stopped almost immediately. Then a long signal fired of just as quick...I did not take it and the market subsequently ran over 40 ticks....so take a loss for 10 ticks and follow it up with a winner of at least 30. Thats how money is made in this business. My trades follow.
Futurepilot's Topsteptrader Combine Journal-5-sep-2013.pdf

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  #19 (permalink)
Manhattan, NY
 
 
Posts: 20 since Aug 2013
Thanks: 34 given, 23 received


futurepilot View Post
Did fairly well today. Following my rules. I did not hold winners long enough and most of my trades were scalping, but made over $1400 net in both combines. Another thing I did wrong was take a trade counter trend which was a loser and then not getting on board the direction of the market. This was in CL. I had a short signal at resistance of 108.10 took the short and was stopped almost immediately. Then a long signal fired of just as quick...I did not take it and the market subsequently ran over 40 ticks....so take a loss for 10 ticks and follow it up with a winner of at least 30. Thats how money is made in this business. My trades follow.
Attachment 122570

Nice work. Thanks for sharing.

What are your plans/methods to hold trades longer? Do you even feel that holding trades longer will be more profitable for your strategy?

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  #20 (permalink)
Madison Wisconsin/USA
 
 
Posts: 25 since Aug 2013
Thanks: 0 given, 7 received


Traded both combines today. Did Very Well, Why? Because I was totally "Trading in the Zone". Strap yourself in this is long. "I'm giving you pearls here son." My primary trade in CL was a long at support of 109, I got in front by 5 ticks. Normally using a 10-15 tick stop, however having watched crude for some time now, I know "they" will fish for stops for all those longs there. So I moved my stop to 35 ticks and yes added to a loser. I want to be on the side of the professionals. I put my additional longs on at 108.80 (80/20 rule). and scaled out of the entire trade for about 56 ticks. I wish I had held for longer, but when I see my P/L above my daily target I usually close it out.....I need to work on that. I did a similar trade in combine 2 in GC. got a pullback to resistance and went short. Did not give enough pullback. My experience in GC is it moves in rythms. ie the professionals will wait for a 2, 3, 4 dollar move before they pounce on a trade. So again, I want to be with the pro's. Today it seemed they were using about 4 bucks. So my first short was stopped, but I added shorts at that position and scaled out holding the last one. Again seeing my P/L above my daily target it was very hard to hold, but I did and put a target in (not at support, but a nice round profit 4 bucks). All in all a Great Day in the Zone. My trades follow.
Futurepilot's Topsteptrader Combine Journal-6-sep-2013.pdf

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September 23, 2013


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