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gretaro's TopstepTrader Combine Journal
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gretaro's TopstepTrader Combine Journal

  #1 (permalink)
Gonnamakeit
Reykjavik, Iceland
 
Futures Experience: Intermediate
Platform: SierraChart, cTrader
Broker/Data: FXCM, IC Markets
Favorite Futures: EUR, AUD, S&P, Bund, Oil, Gold
 
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Posts: 85 since Apr 2012
Thanks: 589 given, 101 received

gretaro's TopstepTrader Combine Journal

I am starting this thread in the hope that I will receive a 70% discount of my next combine with TST.

Only the first 20 who start a thread and register for a Combine will receive this deal.

If I am not one of the first 20 I will journal my combine in my journal thread "Positive Balance".

BR,
gretaro

(edit: I was accepted. So here we go.)

YES!

Last edited by gretaro; August 19th, 2013 at 11:47 AM. Reason: New Info
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  #2 (permalink)
Quick Summary
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  #3 (permalink)
Gonnamakeit
Reykjavik, Iceland
 
Futures Experience: Intermediate
Platform: SierraChart, cTrader
Broker/Data: FXCM, IC Markets
Favorite Futures: EUR, AUD, S&P, Bund, Oil, Gold
 
gretaro's Avatar
 
Posts: 85 since Apr 2012
Thanks: 589 given, 101 received


Wednesday 14th August 2013.

First day of Combine (20 day 50k).

Open mixed. Opening range was from .3257 – .3280. The failed move was lower so we could see upward movement today. Numbers out from France, Germany and the Eurozone (GDP) and later from US (but then I will be finished). The opening range is 23 ticks quarter of the ADR (80-100 ticks I think. I have to do some research on that). Could mean that we will have a Neutral Day with range extension in both directions. The trend on the 60min is down though and the first hour was mixed. Not a strong close in either direction. The daily has broken through the upward channel from the 11th June. Higher probability trade is down? (edit: Since the opening range was so small this could have been a trend day)

If we extend up I would like to be a seller when we test Y-VAL-H @.3288-3290. But as I said if price is going there why not try to tag along. If we extend down then .3236 Y-VAL-L could be the turning point. Of course any news could f... that up.

For me to pass the Combine I have to average $175 net. How am I going to allow that to affect my trading? I could trade smaller. I could target 14 ticks. I could stop after I reach a number that is above 14 ticks. What I am going to do is just take my trades, try to manage them properly and If after the trade I am above 20 ticks for the day I will stop. I will always stop for the day after the third looser.

Price broker below LOD. I wanted to sell the test of the breakout but hesitated and did not want to chase. One of the hardest things I do is just follow price. I am always looking for it to turn around. Just follow it.

Went short after the break of resistance @3244. Then price seemed to find some support @3240 and came back up. I bailed at even since I thought I was chasing . I wanted to see some movement. Will wait for a better entry.

Well did not wait that long. Went short again @.3246 on a test of vwap‘s first std line. Was to close to support @3245. Bailed @3251.

Two trades. Both losers. First entry ok. Test after breakout. I was looking for test of 1.3236. Second entry was not good. Entries do not matter! They do if you are leveraged. Then entries are crucial.

Price stopped @3240. Have we seen the extension to the downside? Will we next test higher?

We had a VPOC shift lower. Market is accepting lower prices. Does that mean continuation lower or?

I was called away to do other things. Market moved higher after consolidating around .3250 until the US PPI came out weaker. Then it broke out to the upside. Could see range extension to the upside now.

Anyway. I am done for the day.

2 trades. -10 ticks + $20 in commissions. Net $-145 (+ 4 hours of my life).

YES!
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  #4 (permalink)
Gonnamakeit
Reykjavik, Iceland
 
Futures Experience: Intermediate
Platform: SierraChart, cTrader
Broker/Data: FXCM, IC Markets
Favorite Futures: EUR, AUD, S&P, Bund, Oil, Gold
 
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Posts: 85 since Apr 2012
Thanks: 589 given, 101 received

Thursday 15th August 2013

Gap up at the open. Tested lower and found support at Y-HOD @.3280. Tested higher and found resistance @.3300. Broke trend line on 60 min chart to the upside but on the daily there is lot of resistance around the 3300 area. Cumulative delta is going negative so there are sellers stepping in. Going lower. Should be a seller if we break through 3280. We could test Y-VAL-H @3270.

There are bank holidays in some places in EU today so we could also just range until the news from US later today.

Maybe we need to test .3300 again before going lower to .3270. I would be a seller if we test .3300 again.

Price went up to test .3300. I got short to soon @.3293 afraid to miss the move down. I took some heat on the trade since price went higher. I decided to hold on since the .3300 area was not broken. I scaled out @.3289 and am holding the second lot.

This is the dilemma. Should I take profit now on second or hold it hoping for a test lower. Price seems to be finding support around .3285. The delta keeps going down but price holds. Preparing for a move higher? Certain 6 ticks or uncertain 20 ticks?

Is holding for a move to .3270 unreasonable? Am I making a rookie mistake? One thing is for sure. I will never have big wins (in ticks per contract) other than by allowing price time to move. Another way to trade though is to trade bigger and hold for smaller targets. Is one better than the other?

Price just does not want to go lower. Maybe we will have no movement until Mr. Bull… speaks. I am afraid that my entry is not that far away that I can hold into the news. My feeling is that the market is heavy. I am at least not a buyer…yet. So I will hold on.

This trade is testing my patience. I want to take the money and run.

Why did I scale out at 4 ticks? I could have gotten 9-10 ticks on both lots and be up 20 ticks. Instead I have booked 4 ticks and am holding on for dear life in the hope to get a 20 tick move on the second lot. That would mean I was up 24 ticks! All this agony for nearly the same result. Does not really make sense does it? So maybe a better way to trade is just to go all in all out and have smaller targets.

I had moved my stop to BE. I did not want to turn this trade into a looser. Stopped out. Well this is how it is. Could have traded this better. Should have waited for price to get closer to .3300 before entering. Not scale out at 4 ticks. And maybe not hold in the hope it will go somewhere. If it is not going just get out.

One trade today. + 4 ticks -$10 in commissions. +$40 net.

(edit: How fun life is. Pirce just collapsed after the US woke up. What can you do! )

YES!
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  #5 (permalink)
Gonnamakeit
Reykjavik, Iceland
 
Futures Experience: Intermediate
Platform: SierraChart, cTrader
Broker/Data: FXCM, IC Markets
Favorite Futures: EUR, AUD, S&P, Bund, Oil, Gold
 
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Posts: 85 since Apr 2012
Thanks: 589 given, 101 received

Monday 19th August 2013

(No trades last Friday.)

The opening range is just 13 ticks. When we break that range we could see some extension.

Just broke to the upside but there seems to be limited interest among buyers in .3339 area. I wanted to buy the break out of the opening range but there is resistance overhead with Friday’s VPOC around .3343 (also a high volume area). The buyers are a little more aggressive though. Delta is positive. Maybe the sellers are just luring them in and will pound them around 3340-3345.

We do not seem to be able to get above 3340. POC from Friday is @3342-3344. This is the accumulation area from last Friday and the Friday before. I almost want to sell it. But buyers are still in control.

We just blasted through 3340. I wanted to buy the breakout but was afraid. Had a limit at .3333 but pulled it. Price hit .3332 and then just went higher. Here my inexperience shows.

Sellers have now stepped in. Delta is negative. My trade now is a short if we test 3370-3380 again.

I have to admit that it is a little frustrating sitting here. Having watched price break out of the opening range and extend upwards when I had the idea to buy the break out. Well I can think all I want but I have to act also.

When looking at the weekly and daily chart I think the euro is going higher. Price seems to be consolidating between .3200 -.3400. I think we will break 3400 and test .3600.

Now we have drifted back to .3350. I would like to see buyers step back in here since this is the high volume area from last two Friday’s. The poor bastards that where long (me ) a Friday over a week ago could get out at BE last Friday. Now we went higher and so is anyone left here to defend this area? We are at least seeing temporary support here. But no real effort from the buyers. Buyers have absorbed a lot of sell market orders here. Could move higher. Good risk reward trade? Poke below 3350 which is quickly rejected is a good sign to get long.

This is amazing. I got the set up but did not take it. WTF.

Well time to call it a day. The time I have allocated to trading is up. Opportunity loss today. Had at least one very good trade but did not take it. Well no losses either so….learning experience.

YES!
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Last edited by gretaro; August 19th, 2013 at 10:31 AM.
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  #6 (permalink)
Gonnamakeit
Reykjavik, Iceland
 
Futures Experience: Intermediate
Platform: SierraChart, cTrader
Broker/Data: FXCM, IC Markets
Favorite Futures: EUR, AUD, S&P, Bund, Oil, Gold
 
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Posts: 85 since Apr 2012
Thanks: 589 given, 101 received

Tuesday 20th August 2013

No trading today.

Working for the Man.

There is no hurry. 60 days to trade 20. I know I should not trade when I am not fully concentrated or when I need to do other things. It disturbs me. I have to be able to be in the moment. Feeling good and relaxed.

YES!
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  #7 (permalink)
Gonnamakeit
Reykjavik, Iceland
 
Futures Experience: Intermediate
Platform: SierraChart, cTrader
Broker/Data: FXCM, IC Markets
Favorite Futures: EUR, AUD, S&P, Bund, Oil, Gold
 
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Posts: 85 since Apr 2012
Thanks: 589 given, 101 received

Wednesday 21st August 2013

Gap down from yesterday’s close. First hour was negative. Market went straight down from the open. Found support @.3390. Opening range 27 ticks. Believe we could see movement between .3386 (maybe test .3380) and .3420 (maybe test Y-VPOC @.3430) until the US numbers and FOMC report.

I was a little trigger happy and went long @.3393. I should have waited for the test of VAL-L but did not. I took 5 ticks of heat and then got 5 ticks of MFE. I decided to scratch the trade when it came back down. Did not want to hold on and turn it into a looser. Price is in a range and I think I should wait until I see which direction it is going to take. I feel some pressure to start taking trades. I should not. Just wait.

Based on the open direction could be to the downside.

It seems that buyers have entered the market. Pushed out of the range put still below open. Sellers just pushed the market back into the value area. Waiting.

My second trade today was a long from .3398. I am trying to read the order flow (really not any good at it). I saw price go up to .3399 but nobody bought it. Price kept coming back to .3399 and I decided that if buyers stepped in and began buying .3399 I would join and hopefully catch a break out to the upside. Around 130 lot hit the offer @3399. Put in a limit. Got filled @3398 but price did not go any further (3 ticks MFE). I bailed when I saw around 113 contracts hit into the bid @.3397. Out @3396. This was a silly trade to make. Not of a level just trying to read the order flow.

My time is up today. Off to a really slow start. I somehow find it difficult to execute well. I am thinking it but not acting or acting late.

Net results today. -4 ticks + $15 in commissions. Total - $65.

YES!
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  #8 (permalink)
Gonnamakeit
Reykjavik, Iceland
 
Futures Experience: Intermediate
Platform: SierraChart, cTrader
Broker/Data: FXCM, IC Markets
Favorite Futures: EUR, AUD, S&P, Bund, Oil, Gold
 
gretaro's Avatar
 
Posts: 85 since Apr 2012
Thanks: 589 given, 101 received

Thursday 11nd August 2013

First trade today was a long from .3312. My TPO composite chart from 25th July shows a ledge @.3311 and after price found support there for a moment I decided to go long. When no buying continued I decided to bail. -5 ticks. Not unreasonable but based on the hourly and the fact that the market keeps going down after better than expected numbers from Germany I should have waited longer or really just go short. The market then turned after hitting .3300.

This is my problem. I am always trying to catch the reversals. I am going to add a rule to my trading to help me wait and not just jump in front of the train. I am trying to read the order flow but am really in the dark there especially with the number bars in Sierra. When I get better in reading the order flow I think it will help me.

On the positive side. I am keeping my losses small and not overtrading.

-5 ticks today + $5 in commissions. Net - $67.5.

YES!
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  #9 (permalink)
Elite Member
Miami FL USA
 
Futures Experience: Advanced
Platform: Ensign 10, NT7 DOM
Broker/Data: IB, IQ
Favorite Futures: Currency Futures
 
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Thanks: 811 given, 2,103 received

Thanks for posting the chart @gretaro but what exactly is it. No need to respond to this post specifically but maybe in a future post you could offer more detail. Congratulations on starting the thread here at futures.io (formerly BMT) and good luck in your Combine.


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  #10 (permalink)
Gonnamakeit
Reykjavik, Iceland
 
Futures Experience: Intermediate
Platform: SierraChart, cTrader
Broker/Data: FXCM, IC Markets
Favorite Futures: EUR, AUD, S&P, Bund, Oil, Gold
 
gretaro's Avatar
 
Posts: 85 since Apr 2012
Thanks: 589 given, 101 received


@Cashish rigtly pointed out to me that I am just rambling on without making clear what instrument I am talking about.

In all the posts above I am referring to the 6E. I had promised myself to trade only the 6E during this Combine but I am tempted to add ZB so that when I do not have time to trade 6E in the mornings I can maybe trade the ZB when the US opens.

Since I am working I am not always in control of my time. This is why I want to trade full time. Be in control of my time and making lots of money of course.

YES!
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