ECT's CL TST Combine - futures io
futures io futures trading



ECT's CL TST Combine


Discussion in Trading Journals

Updated by PandaWarrior
      Top Posters
    1. looks_one EastCoastTrader with 8 posts (22 thanks)
    2. looks_two mrmuggins with 2 posts (5 thanks)
    3. looks_3 PandaWarrior with 2 posts (13 thanks)
    4. looks_4 Quick Summary with 1 posts (0 thanks)
      Best Posters
    1. looks_one PandaWarrior with 6.5 thanks per post
    2. looks_two VinceVirgil with 4.0 thanks per post
    3. looks_3 EastCoastTrader with 2.8 thanks per post
    4. looks_4 mrmuggins with 2.5 thanks per post
    1. trending_up 2,020 views
    2. thumb_up 45 thanks given
    3. group 6 followers
    1. forum 14 replies
    2. attach_file 9 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Thread Tools Search this Thread
 

ECT's CL TST Combine

  #11 (permalink)
Houston, TX
 
 
Posts: 294 since Aug 2013
Thanks: 1,420 given, 757 received


EastCoastTrader View Post
Soul searching time. Full losing day, the disturbing pattern continues.

At the very least, this TST combine is harshly showing me the difference between "what-I-think-of" vs "what-I-am" as a trader. And the findings had been discouraging but I'm not throwing in the towels yet. To quote from signature of @Silver Dragon "Life's real failure is when you do not realize how close you were to success when you gave up."

At this point, after 6 days, alternating win-loss days and being up $170, it is probably realistic for me to earn a rollover. Even if I pass this combine, I'm not ready for prime-time yet.

Today I'd been anxious and impatient after not trading since Friday. I planned my trade but didn't trade my plan. I need to instill this signature line from @runner in my head "Patience is not the ability to wait, it is the ability to maintain the right attitude while waiting."

The second trade marked on the chart was a classic set-up I learned from @mrmuggins; sadly I drew, recognized the setup but failed to execute properly.

Tomorrow is another day!

I felt (feel) the same way. I see a lot of similarities between your combine and mine. I too had alternating winning and losing days and then a big 100 tick day and I passed the combine. I knew I was not ready to trade live without any consistency but I still started my live trader prep and lost on the first 3 days and that crushed my confidence. At that point I just stopped trading the LTP account. Since then I have been practicing on a different combine while my consistency and confidence builds back. There is no point getting funded otherwise.

Sorry I rambled without anything constructive but just wanted to say that I can identify with your current situation. I guess the only solution is to refine, practice, rinse and repeat until there is consistency.

Wish you the best.

Reply With Quote

Can you help answer these questions
from other members on futures io?
Convert NinjaTrader NT7 indicator to Tradestation EasyLanguage and RADARSCREEN
Platforms and Indicators
Issue meeting order entry conditions
Elite Automated NinjaTrader Trading
Last 5 minutes Label
ThinkOrSwim
Moving average with Lag reduction
NinjaTrader
Linux?
ThinkOrSwim
 
 
  #12 (permalink)
NoVa, USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
 
Posts: 58 since Sep 2011
Thanks: 562 given, 193 received


iNeo View Post
I felt (feel) the same way. I see a lot of similarities between your combine and mine. I too had alternating winning and losing days and then a big 100 tick day and I passed the combine. I knew I was not ready to trade live without any consistency but I still started my live trader prep and lost on the first 3 days and that crushed my confidence. At that point I just stopped trading the LTP account. Since then I have been practicing on a different combine while my consistency and confidence builds back. There is no point getting funded otherwise.

Sorry I rambled without anything constructive but just wanted to say that I can identify with your current situation. I guess the only solution is to refine, practice, rinse and repeat until there is consistency.

Wish you the best.

Thanks for chiming in; I read your journal and remember your post at @mfbreakout's thread after you passed with a bang! I might trade the next 4 days conservatively and try to get a rollover unless I get layup-like setups everyday.

Reply With Quote
The following user says Thank You to EastCoastTrader for this post:
 
  #13 (permalink)
In the heat
 
Experience: None
Platform: Tradeovate
Trading: Energy
 
PandaWarrior's Avatar
 
Posts: 3,162 since Mar 2010
Thanks: 6,324 given, 13,367 received

Keys to the kingdom


There are two real keys to passing a combine:

1. Loss control...Never lose more than around 1/2 what you normally win...but in no case should you get close to your loss limit...seeing that on your pnl is tough mentally. Quit at around -250 to -300. Easier on the emotions for the following day.

2. Hold your winners....sounds easy, hard to do sometimes....you are trading CL, it moves in 50-100 tick legs....with around 30 tick smaller legs before pullbacks and when its in a trading range...not always but often enough you should be looking for 30-50 winners. No exception.

3. And the third key...yes I said two but there are three....stop trying to kill it every day. Make 200-500 a day and keep it. They want to see you can hold onto your earnings.....not that you can make $1000 a day. Be smart about this. A combine is a numbers game that's rigged against you. By winning early and holding onto your gains, you win the mental battle. Do that several days in a row and sure enough you start thinking like a winner....

without being a snob or a know it all here, you should really listen to me on this one.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Reply With Quote
The following 10 users say Thank You to PandaWarrior for this post:
 
  #14 (permalink)
NoVa, USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
 
Posts: 58 since Sep 2011
Thanks: 562 given, 193 received

After alternating win-loss for the first six days, I finally had a streak, losing one that is. Two more losing days essentially eliminated me from the combine as 55% or greater winning days are required. To get a free rollover would’ve been nice. I signed up for another 10 day combine with starting day on Nov 25th.

I knew adjustments had to be made; so I printed out, thought long and hard and implemented most of it from @PandaWarrior’s post:


PandaWarrior View Post
There are two real keys to passing a combine:

1. Loss control...Never lose more than around 1/2 what you normally win...but in no case should you get close to your loss limit...seeing that on your pnl is tough mentally. Quit at around -250 to -300. Easier on the emotions for the following day.

2. Hold your winners....sounds easy, hard to do sometimes....you are trading CL, it moves in 50-100 tick legs....with around 30 tick smaller legs before pullbacks and when its in a trading range...not always but often enough you should be looking for 30-50 winners. No exception.

I made an exception to that with @PandaWarrior’s early journal entries where he wrote about “taking a series of small winners” to get me on the groove. I figured it will be impossible for me to get in a trade for 50 tick target with 8-10 tick of stop-loss which is what I wanted to do to following Rule # 1, to not lose more than $250-$300 a day. To pass the combine I thought I could do well between 1:1 and 1:1.5 ratio. After all I not only have to make it but also have to preserve it which he illustrated in Rule # 3.

3. And the third key...yes I said two but there are three....stop trying to kill it every day. Make 200-500 a day and keep it. They want to see you can hold onto your earnings.....not that you can make $1000 a day. Be smart about this. A combine is a numbers game that's rigged against you. By winning early and holding onto your gains, you win the mental battle. Do that several days in a row and sure enough you start thinking like a winner....

without being a snob or a know it all here, you should really listen to me on this one.



Today marked the halfway point of my combine.

First the positives:

I put together five small winning days in a row averaging $200 a day. Despite the meager amount and trading sloppy for last two days, it did wonders for my confidence. Mathematically, I need to make $500; for which I have 5 days to trade; to have the required winning percentage, I need one more winning day.

I had been disciplined and followed my plan for the “most part.” With the exception of today where my draw down was over $250, most days’ draw-downs were no more than $120.

With the exception of the second day, all of my winning trades were between 8 to 12 ticks. I know it is considered scalping the noise but I did not take those trades because it had only 12 tick potential setup; most of my winning trades went a lot further without me and I was fine with that. Panda’s #2 is next on my improvement list.

Now the negatives:

With the first combine while I alternated winning and losing days for 6 days, now I find myself doing that “intra-day.” For past two days, I had taken more than 5 trades per my plan; traded 2 contracts, then switched to 1 contract after losing trade to not hit daily “mental” limit; then switched back after a winning trade. End result, most of my losing trades were with 2 contracts while the winners were with 1 contract. I feel confident going into every morning to eke out a small winner but this grind-out days and winning ugly, which I brought upon myself is getting to me. I must admit that I was a little carried away after seeing some of the funded traders’ combine how they had some break through days.

Anyway, I don’t want to lose pretty either but I need to slow down, and not chase every swing. Slow and steady wins the race.

Attached Thumbnails
Click image for larger version

Name:	Combine.png
Views:	41
Size:	56.5 KB
ID:	130176  
Reply With Quote
The following 4 users say Thank You to EastCoastTrader for this post:
 
  #15 (permalink)
In the heat
 
Experience: None
Platform: Tradeovate
Trading: Energy
 
PandaWarrior's Avatar
 
Posts: 3,162 since Mar 2010
Thanks: 6,324 given, 13,367 received


EastCoastTrader View Post
After alternating win-loss for the first six days, I finally had a streak, losing one that is. Two more losing days essentially eliminated me from the combine as 55% or greater winning days are required. To get a free rollover would’ve been nice. I signed up for another 10 day combine with starting day on Nov 25th.

I knew adjustments had to be made; so I printed out, thought long and hard and implemented most of it from @PandaWarrior’s post:

[/I]

Today marked the halfway point of my combine.

First the positives:

I put together five small winning days in a row averaging $200 a day. Despite the meager amount and trading sloppy for last two days, it did wonders for my confidence. Mathematically, I need to make $500; for which I have 5 days to trade; to have the required winning percentage, I need one more winning day.

I had been disciplined and followed my plan for the “most part.” With the exception of today where my draw down was over $250, most days’ draw-downs were no more than $120.

With the exception of the second day, all of my winning trades were between 8 to 12 ticks. I know it is considered scalping the noise but I did not take those trades because it had only 12 tick potential setup; most of my winning trades went a lot further without me and I was fine with that. Panda’s #2 is next on my improvement list.

Now the negatives:

With the first combine while I alternated winning and losing days for 6 days, now I find myself doing that “intra-day.” For past two days, I had taken more than 5 trades per my plan; traded 2 contracts, then switched to 1 contract after losing trade to not hit daily “mental” limit; then switched back after a winning trade. End result, most of my losing trades were with 2 contracts while the winners were with 1 contract. I feel confident going into every morning to eke out a small winner but this grind-out days and winning ugly, which I brought upon myself is getting to me. I must admit that I was a little carried away after seeing some of the funded traders’ combine how they had some break through days.

Anyway, I don’t want to lose pretty either but I need to slow down, and not chase every swing. Slow and steady wins the race.

Just trade one lot. You don't need to trade more than that to win the combine and more importantly, you shouldn't trade 2 lots until you can afford to take two-three trades with a 2 lot on and have them all be stop outs and still be above your threshold for winning the combine. Winning with one and losing with two is suicide.
I know, I tried that plan as well.

I didn't trade 2 lots until I was over 2k in profit and those were loser trades.

Good job on the rest though. It's tough to win and your close.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Reply With Quote
The following 3 users say Thank You to PandaWarrior for this post:



futures io Trading Community Trading Journals > ECT's CL TST Combine




Upcoming Webinars and Events
 

Free BloodHound Licenses to everyone!

June
 

Every journal equals ten meals for the hungry

June
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts