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COUUUCH TopstepTrader Combine Journal
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COUUUCH TopstepTrader Combine Journal

  #1 (permalink)
Trading Apprentice
Dallas, Texas, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Favorite Futures: CL
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received

COUUUCH TopstepTrader Combine Journal

Day 1: Thursday, August 8, 2013

What I told myself:
Start the Combine out right. Remain calm if you don't start out on the right foot. Take breaks. Act like a professional. Trade what you see and not what you feel! You're either going to pay the price of discipline or the price of regret!

What I did:
Got chopped up on a lot of my trades with some flat out wrong trades. Ended up at -375 net after nine trades. Average loser was only :44 seconds long and anything longer that was a winner at an average of 4:55.

Best and Worse
Best: Didn't go near the loss limit like some traders do. Realized that it was a mixture of chop or not seeing the market correctly. Told myself that you can't win at every trade and walked away.

Worst: Perhaps put some stops too close which ended up chopping my trades.

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  #2 (permalink)
Quick Summary
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  #3 (permalink)
Trading Apprentice
Dallas, Texas, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Favorite Futures: CL
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received


Day 2: Thursday, August 9, 2013

What I told myself:
Relax! Dont let yesterday affect you. Still time to get back those losses from yesterday

What I did:
Traded eight contracts. All were losers. Lost -580 net. Losing time was 1:25 with an average loss of -135. It seemed to just be one of those days.


Best and Worse
Best: Not much. Just didn't see the market right today.

Worst: Kept trading after I knew I wasn't seeing the market correctly.

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  #4 (permalink)
Trading Apprentice
Dallas, Texas, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Favorite Futures: CL
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received

Day 3: Monday, August 12, 2013

What I told myself: Forget issues from last week. This is a new week. Time to make some money!

What I did: Made money. 11 trades with a net gain of 305. Average win was 525 while the average loss was -115.

Best and Worst:
Best: Got back on the good side of the market.

Worst: Average losing time was 7:49 while the average winning time was 7:19. Stayed in losing trades a bit to long.

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  #5 (permalink)
Trading Apprentice
Dallas, Texas, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Favorite Futures: CL
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received

Day 4: Tuesday, August 13, 2013

What I told myself: Continue what you did yesterday. KISS

What I did: Lost some of yesterdayís gain. No big deal. Only -220 net. No where near loss limit.

Best and Worst:
Best: Didnít trade what I didnít see. Pat on the back for that one at least.

Worst: Lost some ticks again. Need to figure it out. Clearly not seeing these summer months as I should.

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  #6 (permalink)
Trading Apprentice
Dallas, Texas, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Favorite Futures: CL
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received

Day 5: Wednesday, August 14, 2013

What I told myself: Need to make money today. Buckle down and do work!

What I did: Went a little heavy on the contracts. Traded 3-5 instead of the 1-2 usual. Ended up hurting me for -495 net.

Best and Worst:
Best: Average winner was much longer than average loser. 4:20 to 1:11.

Worst: Blew combine. Will now be practicing for rollover as well as other things to improve trading as a whole.

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  #7 (permalink)
Trading Apprentice
Dallas, Texas, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Favorite Futures: CL
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received

Day 6: Thursday, August 15, 2013

What I told myself: This is now a practice account. Work on that only.

What I did: -70 net but that was only because of commission. Breakeven day. Not bad.

Best and Worst:
Best:Average winner time was 6:12 compared to the average loser time of :53. Nice!

Worst: Traded way to many contracts. To gung-ho.

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  #8 (permalink)
Trading Apprentice
Dallas, Texas, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Favorite Futures: CL
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received

Day 7: Friday, August 16, 2013

What I told myself: Continue working on the things that every in trading preaches.

What I did: Traded well. +25 net. Wasnít feeling well so left early. Missed a lot of trades Iím sure, but smart in the long run.

Best and Worst:
Best: Was having a hard time concentrating because I wasnít feeling well.

Worst: Probably missed some good $$$ because of leaving.

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  #9 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received


COUUUCH View Post

Worst: Probably missed some good $$$ because of leaving.

Careful with such thoughts.

In 7 days you are down over $1400 or $200 per day, so the chances are that if you had kept trading you would have turned a slightly positive day into a losing day.

You should attempt to focus on your strengths and weaknesses. One big one seems to be over trading.

Also if you spend the day trading, and you are breakeven before commission and admit you over traded, that is not a "not bad" day as you've said. That is a bad day and a problem that needs corrective action.

I would highly recommend you go start making more contributions to the journal that can help you. Such as why you entered and exited each trade when/where you did. Just 3-5 words per trade is enough.

Then go back every weekend and read what you've journaled. The problems should be very apparent to you if you approach it with an open mind.

Once you've identified your strengths and weaknesses, you need to formulate a game plan. Take the biggest weakness and try to very succinctly identify it. Then do the same with a corrective action plan, something short and sweet and to the point that leaves little room for ambiguity in solving the problem. Put this plan on your monitor as a post-it note.

Each day measure yourself against not how much money you made or lost, but on how well you followed your plan.

Otherwise, you are just spinning your wheels. Eventually this will lead to you changing your method, thinking the method is why you are losing money, when really you first and foremost need to solve your execution.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
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  #10 (permalink)
Elite Member
Miami FL USA
 
Futures Experience: Advanced
Platform: Ensign 10, NT7 DOM
Broker/Data: IB, IQ
Favorite Futures: Currency Futures
 
Cashish's Avatar
 
Posts: 803 since May 2011
Thanks: 811 given, 2,103 received



COUUUCH View Post
Worst: Probably missed some good $$$ because of leaving.


Welcome to the forum, @COUUUCH I believe this site has a lot to offer not only you but traders of all levels. I want to be the first to say, just think of how much money you saved by trading in the combine, I say that with complete seriousness. I'm a fan of the TST program and IMO, you're in the "right place." I don't think it is a coincidence that I picked up on the same segment of the same post as BM, I think it is a natural tendency for traders to look at past price movements on a chart and say, I would have shorted here and covered here and then I would have gotten long here and sold here. I think most of us visualize ourselves making perfect trade after perfect trade when we see past price movements that we were unable to trade, for whatever reason. Usually, the reality, when given the opportunity to trade it, is much different.

I don't believe there's a secret to the fact that you are struggling. Your decision to post the outcome of these days "hints" to (Me) the thought you might be hanging on to the end of a very small rope. If I can be blunt, what you're doing isn't working, blowing out a combine in 5 days is impressive, but we here at Big Mike's have seen it done in much less time than that! Between this forum and Big Mike's You Tube channel I'm sure you'll find what you need to get yourself safely on solid ground. There are some good people on this site and many are happy to offer suggestions (especially those oil guys), also I found the search tool quite helpful. I hope you begin to post some charts when you can, it is usually a quick way to see what a trader is "thinking."

I'm not an oil trader, but I will offer one avenue of thought you may want to consider, Anchor Something. Trading with discretion can sometimes leave me with no clear beginning or end to a trade, at the end of the day it often appears to look like random entries and exits all over the chart. But if I Anchor Something, whether it's my size, stop, entry or target I at lest have something that remains constant throughout every trade. This anchoring of something acts as the "field stone" for future and more in depth analysis of all the trades on my chart. It also gives me something to beat my head against when I find myself doing stupid stuff.


Last edited by Cashish; August 19th, 2013 at 07:38 AM.
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