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Trade Ninja - TST combine journal


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Trade Ninja - TST combine journal

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  #1 (permalink)
 Trade Ninja 
Tacoma, WA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL
 
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Posts: 15 since Jun 2013
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Overall goal is to pass the Top Step Trader combine.

Products to trade: Focus on one market only E-mini S&P

Trade setups to take:
Trade Trendline Breaks
Piercing Points
Independent R-zone
The Ice Cream trade
CTD Head and Shoulders
CTD Double tops and bottoms

Position size will vary based on price action; Risk per trade will be based on % (.008) of account.

The Combine evaluation metrics and account characteristics:
Starting balance= $150,000
Max Position size= 15
Daily Loss limit= $3,000
Max Drawdown= $4,500
Overall winning day must be 55% or better
All positions must be closed each day by 2:10 Mountain

Personal goals / perspective
With this being the first attempt at the trading combine, I am looking to take setups correctly and focus on doing the correct steps for each trade. The P&L and metrics that will pass the combine will take a secondary position to fundamentally correct setups. It is my belief that by focusing on trading correctly the metrics will all fall into place.

I will make a daily post into this journal with results and thoughts on the trading day

The combine starts on Monday, Oct 21

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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  #3 (permalink)
 kevinkdog   is a Vendor
 
 
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Good Luck! I hope you succeed!

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  #4 (permalink)
 Trade Ninja 
Tacoma, WA
 
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I completed the first day of my combine, I woke up early and was all set to go, but was a little over excited and got myself into a trade that was less then 1:1 reward to risk, it was only off by one tick and somehow I convinced myself that was OK, its not! The trade then went against me. I was too emotional today, I strayed from my plan. It's easy enough to correct, the "stress" of the combine is way more then I would have expected.


Looking forward, all I need to do is stay on my plan and all will be OK

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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  #5 (permalink)
 Trade Ninja 
Tacoma, WA
 
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Day two is in the books.

I did better today. I stayed on my trading plan. I didn't have as much nervous energy as yesterday, and stayed focused.

Some notes on today's trades, I took some aggressive entries. While those aggressive entries are in my plan, they were just not needed given the setups and resulted in worse entries then if I had entered more conservatively. I gotta relax a bit and get rid of my FOMO (fear of missing out).

I am copying the trade report each day for the combine, one small loss on the first day and a decent win today got me back into the positive. I still have every reason to believe that sticking to the plan will result in a passed combine.

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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  #6 (permalink)
 Trade Ninja 
Tacoma, WA
 
Experience: Intermediate
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Posts: 15 since Jun 2013
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Wow, what a bad day.

The setups were correct but the results we very bad. The only thing I could have done differently is after the first trade went directly to stop out was to take a break(its not in the plan so maybe something to add for the next combine) I did follow the plan using the aggressive steps again and that could be a contributing factor however the market would have went against me either way. I took two trades that both went immediately to the stop out level. I was done trading for the day within two hours of the market open and frustrated. This is by far the biggest losing day I have had recently and came close to the daily loss limit for the account which would have ended the combine.

Going forward I will not trade any different. I still have faith in my plan and setups. Results do not indicate a bad plan or a good one. Processes attachment is good and I am attached. I started this combine with a plan, and I will stick to it until its over, there will be plenty of time to "figure it out" after the combine. The game is not over, I still have a lot of time and capital to work with.

The only thing that would prevent me from trading on Thursday will be if I am thinking about my P&L and the loss taken today. If my head is clear I will trade as any other day.

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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  #7 (permalink)
 Trade Ninja 
Tacoma, WA
 
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Posts: 15 since Jun 2013
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Back on track (kinda)

Two trades today

Today I had one good trade early in the day, and it went directly to target. I do not need the trade to go directly to target but it sure is nice. The second trade was a bit of a comedy of errors, I entered the trade long, price went directly against me, I thought oh no, here we go again, but just short of my stop level it settled down. I had not put the limit order in for the target yet. When I went to add the target to the DOM I accidentally bought a additional 6 contracts and ended up loosing a few hundred dumping those ( I was trying to get cute and not loose money, instead I lost double what I should have). Price hovered around my stop level for about 2 hours, then went to target. Whew!

All in all, I am heading in the right direction again and even with some foolish errors I made a profit. I have 16 more trading days, plenty of time to trade my plan and achieve all the goals (self imposed and combine related)

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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  #8 (permalink)
 fttrdr 
Lakeland
 
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hey, we miss you in the CTD room. Stop by and we'll try to talk you out of bad entries. LOL

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  #9 (permalink)
 Trade Ninja 
Tacoma, WA
 
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Posts: 15 since Jun 2013
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A multi-day journal entry,

I spent Friday, Monday and Tuesday looking at the screen and not taking a trade. While it was very boring, it is important that I did not force a trade or see a setup that was not there.

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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 Trade Ninja 
Tacoma, WA
 
Experience: Intermediate
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Trading: ES, CL
 
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Posts: 15 since Jun 2013
Thanks: 6 given, 3 received


I found a nice setup today, a simple trade trend line break short.

I worked out the setup, found good Reward to Risk, and entered the trade.

I had been in the trade for about 2 hours, then realized the FOMC was releasing a statement today. I knew this would be a big market mover and while I usually do not pay any attention to news, this could not be ignored. I felt like it was a mistake to have not thought about a major planned news release. I will add a step into my trading plans to check for the major news items that could impact my trade.

It was about 20min before the news release, I decided to exit the trade before the craziness, I exited with a good profit and watched the mayhem.

Price began to flutter violently for the next hour or so and I was glad I got out. I honestly think that news of that magnitude turns a good setup into a coin flip, this is not what I am looking for.

Just for the record, Price moved back towards my stop and was within 2 ticks had I stayed in, then went to target! This all happened in one five minute bar! While technically that would have been a positive experience had I been away from my computer, I still think it was the correct idea to leave the market while major news is being digested.

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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  #11 (permalink)
 Trade Ninja 
Tacoma, WA
 
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Arrgh! another day of taking valid setups that just didn't work out.

Let me start by saying I am disappointed with the results while I am happy with the setups. Kinda conflicting, but I am here to run my plan. I stuck to the plan and can take solace in that.

The first trade went within 1 tick of hitting my profit target, then reversed and went to my stop. I did hit the first target at which I reduced the stop level (which is good). I reviewed the trade and can say that the levels and plan were solid, just didn't work out the way I wanted but it did work out one of the ways I had planned for.

The second trade for the day went similar, not as close to the targets. I did not hit any stop level reduction targets and lost the full amount. Again, not what I wanted but it was planned for, so not unexpected either.

I have noticed that I seem to place more short trades then long trades. It could be because we are at all time high levels, or maybe I have a bias. Something to watch for the next few days...

Combine is back in a uncomfortable zone, kinda close to hitting the max drawdown and ending the combine. I have to continue to trade my plan. I am gonna be stubborn and see this through (in a good way) to the end, win lose or draw I will have traded my plan and that IS important.

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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 MMichael 
Montreal
 
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Ninja,
Good luck with your combine. Keep going my friend
MM

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 Trade Ninja 
Tacoma, WA
 
Experience: Intermediate
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Posts: 15 since Jun 2013
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For Friday Nov 1. I watched the market all day, kept myself out of trouble and did not find a proper setup. A good day overall but not much to talk about. I am happy that I am able to stay disciplined.

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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 Trade Ninja 
Tacoma, WA
 
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Two trades for the day, one went in my direction and near my first target but came short and moved against me for the maximum loss I was willing to take. This trade brought me vary close to the max drawdown but I was determined to keep on my trading plan. The second trade for the day setup very clearly and seemed easy,as in everything just fit together. The end of the day shows a small profit.

The combine is still in the negative and close to "life support". I have noticed that I keep coming up short of my targets and end up getting stopped out for the maximum I am risking. My losses are about double the wins, which is opposite how it should be. The most troubling thing is that I don't know why, I will look back over the trade reports to recreate the trade and figure it out.

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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 Trade Ninja 
Tacoma, WA
 
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Two trades for the day,

One really small winner. After the entry the price action went my direction and hit my first target. This target was setup to move my stop to break even +1 tick. It quickly turned back around and got me out for that 1 tick.

And one large losing trade. On this one I think I over thought the market and in review should have done exactly the opposite of what I did. I accidentally skipped a important step in checking on the higher time frames for the direction of the trend and got punished for my error. This trade could/should have been avoided had I followed my steps properly.

The combine is now a little too close for comfort in flirting with the max draw down. I say it everyday, but I am gonna keep on my plan and try to fight my way back into the positive. A few winners strung together and I will be just fine.

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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 Trade Ninja 
Tacoma, WA
 
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Only one trade today,

I had a trade setup but the Reward to Risk was off, I waited as price went to "kiss the trendline goodbye", I entered the previously triggered trade with proper Reward to risk. The price basically stayed in a 10 tick range for the remainder of the day and I had to exit due to the time of day. Just a tiny loss on the day.

The combine is still in poor condition, and really need to have a trade work out to get off life support.

John Kavanaugh
AKA "Trade Ninja" in the TST chatroom
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 Trade Ninja 
Tacoma, WA
 
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Posts: 15 since Jun 2013
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I am pretty bummed, the combine is over.

I took 2 trades today and both times the market turned on me and I got stopped out.

I can honestly say that I learned a ton. I allowed myself into the combine and found out quickly that I had not prepared myself properly. Its not the end of the world , the road or even a major setback, in fact I think failing this combine has pushed me back onto the correct path.

Going forward the plan is to
1. Take the next 10 days working in my SIM account
2. Make a bunch of small changes/additions to the setups.
3. Print out the setups and make a little book with the setups.
4. Take more and better notes for each trade
5. Continue the journal during the 10 day SIM trades
6. Add a to the daily journal the physiologic and technical aspects of my trading, the charts will help with the personal evaluation of the trades and confirm each setup was properly executed.

During the combine, I now think I might have 'curve fitted' some of the setups due to focusing on one market only. The 10 days of SIM account, I will open up my scope and work harder to find the setups, more market will provide more opportunities and hopefully less curve fitting.

John Kavanaugh
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 MMichael 
Montreal
 
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Ninja,
The combine is not over yet until the end or you have hit your max draw down which is not the case. I suggest to continue not as a sim during the last half remaining days, and to try to roll it over as your first goal and have a good feeling for yourself. Do not give up. I know the way your analysis are often accurate in the Team CTD room based on your screen shots and the discussions we all are having daily. Do not let yourself go down and keep the good work and follow the plan as usual. Things can turn around for you. It is easy to say than doing, however I know for fact that you have the knowledge. I experienced the same feelings and it is not easy to deal with. The most important is not only knowing what went wrong. It is to know what went wrong and do something about it, and you are taking actions for that.
Good Luck and keep going, we will all get there.
I am starting my new combine next week on 11-12-2013.
MM

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nemeis45
delhi, delhi, india
 
 
Posts: 59 since Dec 2013
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so what happened with your combine.
how was the experience.
i feel taking a 50k/30k combine is way better
since the risk reward ratio is pretty skewed for a 150k/ 100k combine
gl though

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