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ECT's CL TST Combine


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Updated December 3rd 2013 by PandaWarrior
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ECT's CL TST Combine

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  #1 (permalink)
NoVa, USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
 
Posts: 58 since Sep 2011
Thanks: 562 given, 193 received

ECT's CL TST Combine

I’ve started a 10-day $30K - $1500 Target TST Combine. I will only be trading CL.

So I decided to start a journal; I’ve had my shares of heartaches and growing pains. And it came as a no surprise that most of my losing trades/days/weeks/months were mostly a by-product of lack of discipline and emotional un-stability. I sure “plan my trade” but barely “trade my plan.”

So this journal is about to keep me honest and accountable; and prove to myself that I’m overcoming my trading demon.

I want to pass this combine; for that reason, I’ll be ultra selective about my trade and keep my daily target on a tight leash. That is why I’ll also take my other setups on Ninja sim.

I want to thank @Big Mike for having a site like this; @PandaWarrior and @VinceVirgil for inspiring traders like me to have a journal.

A BIG thanks to @mrmuggins for unselfishly mentoring me and to @Fat Tails for creating and sharing studies and his knowledge. I hang around at the forum of @mfbreakout, learning a LOT from his journal and a number of successful traders who share their insight.

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  #3 (permalink)
NoVa, USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
 
Posts: 58 since Sep 2011
Thanks: 562 given, 193 received

Nov 11 Report


Ninja Trades:

Trade # 1: Premature entry at the open for a breakout; almost got stopped out (maybe market-makers would’ve taken my 2 contracts on “live” account) but ADN-low zone held like a champ. I should’ve gone with 1 contract with the intention of adding on the pullback.

Trade # 2: This was a better entry in a confirmed trend up. Was trigger shy on the TST account. Right now, barring a parabolic move, I’m incapable of holding for more than 25-30 ticks of move.

Trade # 3: Accidentally pressed something, exited with 1 tick of loss.

Ninja and TST Trades:

Trade # 3 (#1 for TST): Counter trend short but liked the location and basing although I had an eye on 95.38 - 95.40 area

Trade # 4 (#2 for TST): One of my favorite setups on the 30-sec chart.

I hope to minimize my mistakes tomorrow.

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  #4 (permalink)
Toronto, Canada
 
Experience: Advanced
Platform: NT
Broker: TD Ameritrade, Dorman/Zenfire
Trading: CL,ES
 
VinceVirgil's Avatar
 
Posts: 1,752 since Aug 2011
Thanks: 2,144 given, 9,217 received


EastCoastTrader View Post
Iíve started a 10-day $30K - $1500 Target TST Combine. I will only be trading CL.

So I decided to start a journal; Iíve had my shares of heartaches and growing pains. And it came as a no surprise that most of my losing trades/days/weeks/months were mostly a by-product of lack of discipline and emotional un-stability. I sure ďplan my tradeĒ but barely ďtrade my plan.Ē

So this journal is about to keep me honest and accountable; and prove to myself that Iím overcoming my trading demon.

I want to pass this combine; for that reason, Iíll be ultra selective about my trade and keep my daily target on a tight leash. That is why Iíll also take my other setups on Ninja sim.

I want to thank @Big Mike for having a site like this; @PandaWarrior and @VinceVirgil for inspiring traders like me to have a journal.

A BIG thanks to @mrmuggins for unselfishly mentoring me and to @Fat Tails for creating and sharing studies and his knowledge. I hang around at the forum of @mfbreakout, learning a LOT from his journal and a number of successful traders who share their insight.

Cant say there havnt been a couple of rough spots on my journal, but, overall, the experience has been terrific.

I don't understand why everyone dosnt start and maintain one. Actually, I do know why. Most people are lazy. I am lazy as well. But no matter how lazy I am, I know the value of documenting what I do...writing it down...taking notes.

Congratulations, and by starting a journal, you have put yourself in the top 5 % of all traders. Coincidentally, only 5% of all traders actually are successful.

Is there a direct correlation?

VV

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  #5 (permalink)
NoVa, USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
 
Posts: 58 since Sep 2011
Thanks: 562 given, 193 received

Ping-Pong

Yesterday I had a losing day, $450-ish. I was supposed to minimize my mistakes, instead I magnified it. What happened? I was biased bullish and I had evidence to believe but when the structure changed, my hard head didnít make changes. So I took a few counter-trend and by the time I realized itís time to short every rally, I was near my daily max loss.

Today I closed on the green $600-ish. I must have to put together a winning streak; canít be playing ping-pong with win-loss.

I documented todayís trades on the chart without few scratches I had. I need to get acclimated with T-4 platform better. I tried to move my target or stop-loss, ended up cancelling it; got freaked out as I couldnít institute one. Eventually I figured it out (I think) but I shouldnít be trading if Iím not fully comfortable with the platform. Those minor scratches- wins-losses are messing up my percentages and taking out precious $5 per round-trip.
Iím not pleased with some trade entries and most trade managements. Need to do better.

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  #6 (permalink)
manchester, england
 
Experience: Intermediate
Platform: ninjatrader
Broker: pfg best
Trading: oil
 
Posts: 288 since Apr 2011
Thanks: 285 given, 395 received

Good Luck with your TST


EastCoastTrader View Post
Yesterday I had a losing day, $450-ish. I was supposed to minimize my mistakes, instead I magnified it. What happened? I was biased bullish and I had evidence to believe but when the structure changed, my hard head didnít make changes. So I took a few counter-trend and by the time I realized itís time to short every rally, I was near my daily max loss.

Today I closed on the green $600-ish. I must have to put together a winning streak; canít be playing ping-pong with win-loss.

I documented todayís trades on the chart without few scratches I had. I need to get acclimated with T-4 platform better. I tried to move my target or stop-loss, ended up cancelling it; got freaked out as I couldnít institute one. Eventually I figured it out (I think) but I shouldnít be trading if Iím not fully comfortable with the platform. Those minor scratches- wins-losses are messing up my percentages and taking out precious $5 per round-trip.
Iím not pleased with some trade entries and most trade managements. Need to do better.

Hi ECT, good luck with your TST. Looking forward to your progress. Nb, I took one the trades you took today, but held on for a larger amount than you did. Try holding out for more when you are trading in the direction of the intra day momentum (daily trend), rather than scalping for 15 ticks, it will make a big difference.

Good Luck

Dudley

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  #7 (permalink)
NoVa, USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
 
Posts: 58 since Sep 2011
Thanks: 562 given, 193 received

Insanity and a winning Week

"Insanity is doing the same thing over and over and expecting a different result" - a way to describe my current trading. Took another full loss yesterday, pretty pathetic.

Bounced back today with $800-ish. A couple of feel-good trades, there were few more opps after my last trade, but kind of checked out mentally.

This is alarming. At the end of the first week, 5 days of trading, I'm up $640 with 3 out of 5 winning days. But at this pace and alternating win-loss day, I won't reach my combine objective. Mathematically, I've got 5 days to make $860. Even though I may pass this combine, I remain extremely unhappy about my trades, discipline, psychology etc. I need to stop making the same mistakes and improve.

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  #8 (permalink)
NoVa, USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
 
Posts: 58 since Sep 2011
Thanks: 562 given, 193 received

No Trades

I didn't trade today; barely had success in the past trading in the split volume day, not sure if there is a proper term for that kind of day. Instead, I adjusted, marked my charts, fingers were itching a couple of times to pull the trigger but stuck to my plan. In the past, I had the mentality that I always had to trade. After CL dropped like a rock, the old-me was upset for not taking the trade. The new-me harshly replied, " Lets get real. I would've captured no more than 30 ticks on that move and then started to look for counter trend long and gave back all the gain and possibly more."

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  #9 (permalink)
NoVa, USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: CL
 
Posts: 58 since Sep 2011
Thanks: 562 given, 193 received

and the Disturbing trend continues

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!

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  #10 (permalink)
manchester, england
 
Experience: Intermediate
Platform: ninjatrader
Broker: pfg best
Trading: oil
 
Posts: 288 since Apr 2011
Thanks: 285 given, 395 received

Patience is a waiting for the right set up



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!

Hi ECT, sorry to hear about your travails today, however, I do not understand how you had two losing trades if you took the short after the basing and the long after the Squat bar reversal. Did you have your stop loss too close to the price action?

Patience is waiting for the right set up and executing properly. And the reversal at the LOD with the 5 min squat DD bar was worth waiting for, even in a small range day like today.

Here are my 1 & 5 min chart. You will notice I took the 5 min screenshot once I had seen the 5 min squat bar (so not in hindsight). I then used the 1 min chart to wait for an impulsive breakout and engaged on the retrace back to the basing zone of the RPM bar.

So be patient and wait for the right set up, and executing without thinking.

Also, do not trade inside congested zones or else you will continue to ping pong between winning and losing days. So don't diddle in the middle.

Regards,

Dudley

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