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COUUUCH TopstepTrader Combine Journal


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COUUUCH TopstepTrader Combine Journal

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  #1 (permalink)
COUUUCH
Dallas, Texas, USA
 
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received

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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  #3 (permalink)
COUUUCH
Dallas, Texas, USA
 
 
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)
COUUUCH
Dallas, Texas, USA
 
 
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)
COUUUCH
Dallas, Texas, USA
 
 
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)
COUUUCH
Dallas, Texas, USA
 
 
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)
COUUUCH
Dallas, Texas, USA
 
 
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)
COUUUCH
Dallas, Texas, USA
 
 
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)
 Big Mike 
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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

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  #10 (permalink)
 Cashish 
Miami FL USA
 
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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.

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  #11 (permalink)
TheDude
london
 
 
Posts: 166 since Jan 2012
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COUUUCH View Post
Day 1: Thursday, August 8, 2013

What I told myself:
...... You're either going to pay the price of discipline or the price of regret!

.

It's easy to pick holes, especially from where everyone else is sat. So please dont take this as that - but constructive criticism.

Kudos to you though for posting up.

Whether you believe in psycho mumble jumble or not (I do to an extent) I found the above sentence interesting. In your scenario, either way you're paying up. Or, you're handing money over - losing - in the act of paying. Your words have deceived you before you even begun. You've perhaps pre-programmed yourself to lose?

Or maybe there's a simpler explanation - like English isn't your first language. In which case, my bad as todays youf say.

Maltz's Psycho-cybernetics is a good read, but alas Mark Douglas offers nothing and is psyco drivel at it's worst.

Keep positive

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  #12 (permalink)
COUUUCH
Dallas, Texas, USA
 
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received

Day 8: Monday, August 19, 2013

What I told myself: understand that Labor Day is approaching. Market will be weird until then.


What I did: Down -170 net. Win time was 2:09 and losing time was 1:37


Best and Worse
Best: traded lightly. Didn't hit loss limit.

Worst: Lost money. Need to spend more concentrating!

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  #13 (permalink)
COUUUCH
Dallas, Texas, USA
 
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received

Day 9: Tuesday, August 20, 2013

What I told myself: KISS


What I did: Average win time was 8:16 and losing time was :33. Somehow I was down -450 net.


Best and Worse
Best: Great average win/losing time

Worst: Bad day

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  #14 (permalink)
COUUUCH
Dallas, Texas, USA
 
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received

Day 10: Tuesday, August 21, 2013

What I told myself: Last day. Waiting after this for at least for a week. Using Ninja's Market Replay to practice.


What I did: +15 net. Average win was 3:12 and average loser was :55


Best and Worse
Best: Ended Positive for the day

Worst: Ended positive for the combine

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  #15 (permalink)
COUUUCH
Dallas, Texas, USA
 
 
Posts: 23 since Jul 2013
Thanks: 0 given, 21 received

Conclusion of My Experience Trading during the Combine:

Let's just say, I'm happy this wasn't real money. I am however, happy that I found TST because they allow me to trade through real markets, in real time, for a lot less than I would've lost. Being able to see all of trading statistics has truly opened my eyes at how I trade. In addition, the resources they provide help way beyond of anything else that Iíve ever seen.

Taking the time to relax and be patient in the next combine will be ultimate test as I start with a clean slate. I plan to post that journal here as well so others can see and provide feedback. Being told the truth from others who see my weaknesses is one of the few ways to change. Very few people make it in the day trading industry and I definitely want to be one someday. I must use all the resources available to correct my errors and learn. Iíve attached my trade report and plan to make some of the negatives into positives on my next trade report.

I'd like to thank TST and others here for helping develop my trading style. It is a continuous changing environment and requires a lot of work.

Thankyou again for everything,
COUUUCH

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