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Wookie 's TopStepTrader Combine Journal


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Wookie 's TopStepTrader Combine Journal

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  #1 (permalink)
Chicago
 
Experience: Intermediate
Platform: NinjaTrader Takion T4
Broker: Interactive Brokers, Kinetick
Trading: CL, Stocks, ES
 
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Posts: 51 since Oct 2012
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Hello Everyone,

This is my first thread on BigMikeTrading.com - I have taken a lot of useful information from this site and would like to contribute if I can. Of course this is a trading journal. It should be noted that it isn't my first combine and potentially not my last. My goal for this journal is to keep the writing to a minimal and to make it fun to read. I will add some cool charts because that is what I like to look at most.

My trading style is fibonacci with a strong emphasis on support and resistance levels. I mostly trade crude oil, but I will wonder off to the ES if there is a chart or setup I like. I'm hoping to trade the the 50k combine because I like the daily loss limit parameters more. Thanks and I hope this journal is a good one.

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  #3 (permalink)
Chicago
 
Experience: Intermediate
Platform: NinjaTrader Takion T4
Broker: Interactive Brokers, Kinetick
Trading: CL, Stocks, ES
 
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Posts: 51 since Oct 2012
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Just wanted to update this thread. I won't be starting a new combine until I'm done with my current one. I blew it up sometime ago, but have some remaining days left. So while I exhaust that account I will submit some daily sim trading. Here is a summary of trades on my NinjaTrader account. I will see if I can find some good trades to post and give a small explanation.


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  #4 (permalink)
Chicago
 
Experience: Intermediate
Platform: NinjaTrader Takion T4
Broker: Interactive Brokers, Kinetick
Trading: CL, Stocks, ES
 
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Posts: 51 since Oct 2012
Thanks: 10 given, 30 received

This was a 6 minute hold and the setup was on a fib fail. Price bull rushed thru the fib and then fell below the support fib. That support fib then became the resistance fib and price failed to reach it. It is easiest seen on the 15-30 second chart. I entered when I noticed that price failed to reach that fib line. I took the trade to the weak fib sitting above the yesterday close. I figured that would be a safe target.

After flattening out - I also did some quick scalps off the yesterday close, but only after I noticed some resistance/congestion going on there. Although, I'm not showcasing those trades because I will take several of those throughout the day.

It should be noted that I forgot to put in the yesterday high at .24.


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  #5 (permalink)
Chicago
 
Experience: Intermediate
Platform: NinjaTrader Takion T4
Broker: Interactive Brokers, Kinetick
Trading: CL, Stocks, ES
 
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Posts: 51 since Oct 2012
Thanks: 10 given, 30 received

Held a trade overnight and it was partially stopped out but I closed the rest out when it got in the money. It hit a target I had set for a trade today. That is why my losses were so great, but holding over night has its risks.

Anyways, had some great setups today and they materialized, so it was a good day. I will post my favorite setups in the next post.


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  #6 (permalink)
Chicago
 
Experience: Intermediate
Platform: NinjaTrader Takion T4
Broker: Interactive Brokers, Kinetick
Trading: CL, Stocks, ES
 
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Posts: 51 since Oct 2012
Thanks: 10 given, 30 received

Today price failed to reach R2 during the ETH session. I wasn't awake, so when I DID wake up I had a bearish sentiment going into RTH. I did put on a trade when R1 looked like it wanted to fail on a retest, maybe I got in too early, but it was profitable. I also closed the remainder of my short position that I held over night.

The next trade that I drew lines for was another fail of a fib. Price also failed to reach the yesterday high, so I took that as a good short entry signal and it ended up being a good trade as well.

All the scalps occurred when I saw price ranging tightly above the yesterday close.

It should be noted that this isn't the entire story as I saw it. I removed some indicators to make the chart less confusing.


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  #7 (permalink)
Chicago
 
Experience: Intermediate
Platform: NinjaTrader Takion T4
Broker: Interactive Brokers, Kinetick
Trading: CL, Stocks, ES
 
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Posts: 51 since Oct 2012
Thanks: 10 given, 30 received

Today I'm posting my summary from my remainder combine (already disqualified, so just simming it out). Typically, I trade more aggressive in 1 account. A broken daily loss limit is usually the result, but today I wanted to play it more safe. I am ramping up for a new combine soon. Why would I blow up an account on purpose (you ask)? That's a good question troll , I don't "want" to blow it up. But I do learn from mistakes and I feel its part of the developmental process of becoming a thick-skinned trader.

Anyways, stats are below. Will be posting a great trade I had today in the next post.


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  #8 (permalink)
Chicago
 
Experience: Intermediate
Platform: NinjaTrader Takion T4
Broker: Interactive Brokers, Kinetick
Trading: CL, Stocks, ES
 
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Posts: 51 since Oct 2012
Thanks: 10 given, 30 received

So this morning when I woke up I noticed that CL already failed to reach R2, but we did get a new high of the day. This gave me a slight bearish outlook, but if I am going to go short - I need serious confirmation to do so. On the next peak I got the confirmation I was looking for. We had an HoD FAIL and the reward/risk ratio was too great for me to not take the trade. So I did and added to my position after we rejected the R1 as well. I flattened out after 1 lot on a fib target I had. I flattened the other when price triggered my moving stop. Great trade!


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  #9 (permalink)
Chicago
 
Experience: Intermediate
Platform: NinjaTrader Takion T4
Broker: Interactive Brokers, Kinetick
Trading: CL, Stocks, ES
 
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Posts: 51 since Oct 2012
Thanks: 10 given, 30 received

I was really satisfied with how today turned out for me. I started trading just my combine account (usually do this), but when I saw an incredible setup I got a trade in with my NT account because why not?

So I started out up with my combine account but got chopped up later on after pit open. Finally, I just put a trade on and held it because I had a great risk/reward setup. Probably could have been more patient.


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  #10 (permalink)
Chicago
 
Experience: Intermediate
Platform: NinjaTrader Takion T4
Broker: Interactive Brokers, Kinetick
Trading: CL, Stocks, ES
 
chuckchucker's Avatar
 
Posts: 51 since Oct 2012
Thanks: 10 given, 30 received


So this setup was one of my favorite setups ever. I saw that Crude Oil hit weekly R1 and possible rejection. Coincidentally, CL was also in its Daily R1. So 1 R1 rejection could possibly be 2 R1 rejections. This happened and I liked the risk/reward ratio enough to take a chance on a counter trade. Some other lines failed and that added to the bearish sentiment and it was an awesum move!


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December 31, 2013


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