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Steve what helps as well is my attempt in qualifying for a TopStep $30k trading combine.
Need to achieve a $1500 profit objective over 20 trading days.
That averages out to $75/day. So anything above that for me is totally fine in achieving
that goal.
I do stop with 2 full stop outs of 10tix each...
Mike S.
Can you help answer these questions from other members on NexusFi?
It's funny you mention it like that. I have seen others who were moving down a road of consistent profits, until their was an added pressure on them from an outside source. Like trading a fund or something of that nature. So I am happy to see that for you it is more of a motivator and keeping you in check vs having the opposite effect and causing you to make bad decisions or start creating bad habits.
I'm going to have to look into this combine thing more closely. I only know at a high level what it entails but it could be a path I may consider.
The trade I took today was a discretionary trade but the slope of the rising 50MA
and coming off and ABC structure trade made it easier to make that decision to go long
on that 3LB trade.
Again in a perfect world you'd want to take all trades with matching tone on 15/50MA's
but trading isn't perfect.
Once you view enough charts, you'll start to develop a fell to pull the trigger on a trade.
Right Line visually helps me qualify a trade but ultimately it's the individual's decision to pull
the trigger.
Someone once said discretion is the better part of valor. Which means it's good to be brave but prudent to be careful.
Amin If you look at Mike's last 13 tick trade it was a long entry on the completion of the ABC formation. The 15 was above the 50 but yellow, 50 was green and sloped upward. So while it wasn't the prettiest entry as MIke said after you have had some chart tim you can see where the market will sometimes follow through. This comes with knowing the personality of the security you trade.
Here is an example that shows the same thing but only this is where I chose to not take a trade even though the signal was there.
ON the RLT chart you will see a nice power bar entry. At the close of the bar with the arrow everything was in line. However there was only 5.5 pips of space form entry to the current high of the day (HOD) and look at the hour before it was a slow jagged move up to a previous bounce off the HOD.
Seeing how the recent price action has already responded to the HOD combined with the jagged move up and the lack of room for my trade to move I shoe to pass on this trade. I also included a 60 min chart of the same thing and you can see how the jagged move on the RLT chart is the Doji on the 60 min.
So the lesson here is do not blindly follow every signal that comes along. Pay attention to the recent events that have already occurred to help guide your decision making process.
I believe it's safe to say Yellow is neutral.
I've only owned it for just over a week and haven't seen yellow in the indicator until a recent update to the
indicator package.
Here's a screenshot of a recent webinar describing the colors... Yellow isn't one of them.
Nice journal and a very interesting approach as well.
Keep up the good work and stick with the four core setups of your method.
I'm looking forward as you progress with your journal, and I wish you best of luck for your ongoing TST Combine !
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Have you figured out ATM strat like in Ninja to be used in T4 platform?
That DOM is a bit of a challenge for me but still want to pursue a qualification
of a funded TopStep account.
