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jmsUK TST Combine 100K 20 day NQ CL
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jmsUK TST Combine 100K 20 day NQ CL

  #1 (permalink)
Elite Member
Guildford Surrey UK
 
Futures Experience: Intermediate
Platform: NinjaTrader, IG SpreadBetting with ProRealTimeCharts
Favorite Futures: DAX CL NQ EUR/USD
 
Posts: 82 since Nov 2012
Thanks: 356 given, 128 received

jmsUK TST Combine 100K 20 day NQ CL

Hi guys,
This is my first thread and the first thing I need to say is good luck to @Big Mike with your new adventure.
It looks great fun and you must have worked really hard (and smart) to be able to do that. Nice job.
Also thanks to you for the site AND for the discount in the Combine. Much appreciated.
On Monday 9 Sept I start a 100K 20 day Combine trading CL and NQ

I am going to have to learn as I go how to post images and decide what to post and when.
Some have taken a lot of trouble and time to give others helpful insights
and details of progress and I hope that my journey will be of benefit to myself
and possibly also to others. We will see.


Last edited by jmsUK; September 5th, 2013 at 07:17 AM.
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  #2 (permalink)
Quick Summary
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  #3 (permalink)
Elite Member
Guildford Surrey UK
 
Futures Experience: Intermediate
Platform: NinjaTrader, IG SpreadBetting with ProRealTimeCharts
Favorite Futures: DAX CL NQ EUR/USD
 
Posts: 82 since Nov 2012
Thanks: 356 given, 128 received


The $100,000 20 day Combine that I have chosen requires:
10 lot max position
$2,000 Daily Loss Limit
$3,000 Max Drawdown
$8,500 Profit Target



My entries are mostly reversion to mean/PB types.
The shape of the SMAs, that I use, show me the direction and strength of the trend, while the SMAs themselves will often provide support/resistance.
In the right context, the Fib retracement trade is another favourite, especially in NQ
I sometimes take the BO trade, but often it is more unpredictable and higher risk.

Preparation for trading
For CL this involves a thorough analysis of the wave status.
Currently (Sept 2013), I am using 120 min ETH for the bigger perspective, wave counts & retracements, then I drill down to the 30 and 15min for more detail.
But lately, CL has got so BIG, that the 240min, the daily (and even weekly) need to be kept in mind!

I use those TFs for perspective, BUT am ready to ignore them all when I see a significant PA development on 5min chart. The trend on the 5min chart is the one I want to be on and it will trump all others at certain times.

With NQ, the charts are slightly different: the perspective I want to look at is shown on the 15min usually (sometimes have to go out to the 30min). Here again, the trend I want to trade is defined on the 5min chart, and my SMAs together with Fib targets and retracements work well on NQ when it is moving freely. The perspective of the daily chart should also be considered.
With both markets, fine-tuning for scaling in/out/re-entries can be achieved using tick charts (currently 90t for CL and 125t for NQ on NinjaTrader/Zen-Fire during RTH).
I prefer pictures to words and my charts tend to be a little cluttered with notes until it becomes too much, then I have a clear out.

My trading strategy
On NQ I will enter with 4/5 lots using a 10 tick stop aiming for target part 20 and part 40 ticks in the early session (or discretion to run the position), while in mid-session when it is slower, I will use 10 tick stop initially then tighten quickly, target part 12, part 20.

On CL, I plan to enter with 2 lots and use a 10 tick stop and target half 15 ticks, half 25, though in London session, targets may need to be reduced to 12 and 18 ticks depending on conditions. Again, I would use discretion to run the position in the case of a major breakout etc.

2 losses in a row will stop me in my tracks for a period of reflection in order to check where I am and whether I am in the right state of mind etc to carry on. This loss would be approx 25% of my permissible daily loss limit and 17% of my max drawdown.

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  #4 (permalink)
Elite Member
Guildford Surrey UK
 
Futures Experience: Intermediate
Platform: NinjaTrader, IG SpreadBetting with ProRealTimeCharts
Favorite Futures: DAX CL NQ EUR/USD
 
Posts: 82 since Nov 2012
Thanks: 356 given, 128 received

Trading Day 1

After 5 consecutive trading days of internet connectivity problems, and 2 visits from the engineer on Monday, yesterday, I finally had a good connection today, however, the market turned slow in the London session and I found it hard to tune in to what was actually going on.
I saw the potential for a run to the upside in early trading and entered on a breakout, held it through the pullback but it could not make it, and just before it fell another 26 ticks, I exited for a loss of 6 ticks total on 2 lots, which was the best thing I did all day.
After that, I realized that I wasn't seeing the market for one reason or another, but continued watching and had pretty well decided to do nothing more for the London session.
In the US session, I was close to catching the 3rd and 5th early waves up but was hesitant and not really on it, so soon after that I pulled out.
I exercised discipline by withdrawing, as I knew there would be better days for me: days when I will be in tune and up for it.
I have 20 days for this Combine, and I do not want to waste any $$s when I am not at my best.


Last edited by jmsUK; September 17th, 2013 at 03:20 PM. Reason: 26 ticks (instead of points)
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  #5 (permalink)
Elite Member
Guildford Surrey UK
 
Futures Experience: Intermediate
Platform: NinjaTrader, IG SpreadBetting with ProRealTimeCharts
Favorite Futures: DAX CL NQ EUR/USD
 
Posts: 82 since Nov 2012
Thanks: 356 given, 128 received

Hopefully the end of an unfortunate sequence of events

Yesterday, Wednesday, I had 15 issues of internet disconnection. Added to that, in an attempt to download software to track my data usage, looking to add another ISP with a data limit, I inadvertently downloaded some kind of malware. I spent most of this morning with a friend running tests and trying to eliminate it. Think we got it.
The ISP engineer came again today and reported that they think they have found the problem and fixed it last night. I lost the connection at exactly 1300 CT yesterday!!
Today my connection was perfect.

However, this has been the worst period of internet disruption that I can recall and possibly at the worst time it could have happened.
I am 9 trading days into my Combine and have traded 1 day, have lost focus, concentration, am out of process and generally extremely frustrated.

On the positive side, I have not got out of control with my actions and I have tomorrow (Friday) and the weekend to get myself together.
If I can maintain my connection over the weekend, I will be ready and eager to start trading Monday.
I have 35 trading days left, of which I have to trade 19, so there is time.
Nice weekend to all

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  #6 (permalink)
Elite Member
Guildford Surrey UK
 
Futures Experience: Intermediate
Platform: NinjaTrader, IG SpreadBetting with ProRealTimeCharts
Favorite Futures: DAX CL NQ EUR/USD
 
Posts: 82 since Nov 2012
Thanks: 356 given, 128 received

Mon 23 Sept Trading Day 2

Finally my internet connection looks to be good and I spent the day getting my bearings.
I made a trade late into the US session but I misread the situation and managed a stop-out out for a 5 point loss.
It was a day when I should have done better, even done really well as there were many setups that were favourable for me, however after a 2 week ‘lay-off’ (waiting for internet), I was a bit ‘rusty’.
My aim tomorrow is to be more alert and attack my setups.

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  #7 (permalink)
Trading for Fun
Ohio USA
 
Futures Experience: Intermediate
Platform: Ninja, T4
Favorite Futures: futures
 
Posts: 65 since Jun 2013
Thanks: 23 given, 64 received

jms - if you are doing the journal for the combine discount, be aware that they want 200 words + screenshots each day you trade to fully qualify. You can post screenshots from the T4 software and/or the TST website.

Good luck!

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  #8 (permalink)
Elite Member
Guildford Surrey UK
 
Futures Experience: Intermediate
Platform: NinjaTrader, IG SpreadBetting with ProRealTimeCharts
Favorite Futures: DAX CL NQ EUR/USD
 
Posts: 82 since Nov 2012
Thanks: 356 given, 128 received

@trader000 thank you for taking trouble to point that out to me. In fact I do now know about the 200 words and the TST discount but I didn't know about it when I started. I was happy with a 20% discount for being an elite member of futures.io (formerly BMT). I decided to commit to doing the journaling thing to try to make myself accountable and responsible for my actions. There is nowhere to hide when you mess up or don't perform in the way that you wanted. It is no fun reporting that you did what you should not have done and did not do what you should have. Journaling gives great incentive to do it properly. So...I will keep trying to be the best I can be.
Thanks again. I see you are doing well with yours. Keep up the good work.

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  #9 (permalink)
Trading for Fun
Ohio USA
 
Futures Experience: Intermediate
Platform: Ninja, T4
Favorite Futures: futures
 
Posts: 65 since Jun 2013
Thanks: 23 given, 64 received


jmsUK View Post
@trader000 thank you for taking trouble to point that out to me. In fact I do now know about the 200 words and the TST discount but I didn't know about it when I started. I was happy with a 20% discount for being an elite member of futures.io (formerly BMT). I decided to commit to doing the journaling thing to try to make myself accountable and responsible for my actions. There is nowhere to hide when you mess up or don't perform in the way that you wanted. It is no fun reporting that you did what you should not have done and did not do what you should have. Journaling gives great incentive to do it properly. So...I will keep trying to be the best I can be.
Thanks again. I see you are doing well with yours. Keep up the good work.

I did not know there was a different discount for elite futures.io (formerly BMT) members.

Good luck w/ your combine!

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  #10 (permalink)
Elite Member
Guildford Surrey UK
 
Futures Experience: Intermediate
Platform: NinjaTrader, IG SpreadBetting with ProRealTimeCharts
Favorite Futures: DAX CL NQ EUR/USD
 
Posts: 82 since Nov 2012
Thanks: 356 given, 128 received


@trader000
There is a 20% discount for Elite members on the FIRST Combine, which I was pleased with. There are also benefits on data feed and software deals too.

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