I'm also working on the combine, and 1 thing that I realised about myself is when I traded 2 kinds of instruments with diff characteristics....it messes with my mind. Sometimes GC treat me nice, sometimes, CL covers my butt. I thought with 2 counters, it increases my chances since I only need a little from GC and a little from CL. I was wrong. I couldn't really focus on trading either one properly. When GC shows an overall negative, behind my mind, I know I have to get it back to positive to fulfilled the "TST all product must be + requirement." So, I missed good opportunities in CL because I NEED to get GC back to positive. Just thought I share what I went through.
I would definitely like to trade more than 1 instruments in the future, but at the moment for the combine, I opt to trade only CL.
Best of luck for your combine.
Sleep well, Eat Healthy, Breathe...
The following user says Thank You to mykee for this post:
I only wanted to go long today. But when we fell outside of balance, I caved in and took a short, and ended up covering on the lows at 4206.00. After re-tooling my brain to look for shorts, I unfortunately missed the long entry I had waited hours to bag.
This was followed by server-side errors at Rithimic/Topstep. TST cannot erase the bad fills, they can only erase the entire day. The first trade gave me +70t and the second trade gave me 83t. I had to report it as you cannot b.s. your way through life.
You'll notice that I'm really trying to dial-in these entries and am not willing to take any heat. If it goes against me right away, I just throw it out. If I take heat after immediately getting in, there is a better entry somewhere else. These types of entries should pop in my favor right away.
I'm pleased with how the day went... FOMC meeting and all.
Last edited by bedhog; November 19th, 2014 at 11:22 PM.
I outlined some short targets before the market open. When the market opened, I looked at the TOS Index Watch and saw the bulk of the Nasdaq 100 showing red.
Mistake: I developed a short bias and failed to adapt as the market moved higher.
Mistake: I continued to take short trades, regardless of my setups.
Mistake: I was increasing size trying to get back to even.
Mistake: I was trading what I felt and believed, not what I saw.
I no longer expect to pass this combine because I'll be trading not to lose.... fear of hitting trailing max drawdown.
What I can do differently?
Save TOS for options trading. I read tape and delta, of which, TOS has neither.
Trade what I see.
Define a hard rule - walk away or shut it down after 3 in a row.
My heart rate monitor was not above 90 today, no reason to quit right?
Last edited by bedhog; November 21st, 2014 at 12:28 AM.
I read about your mistakes.
especially the first
"Mistake: I developed a short bias and failed to adapt as the market moved higher."
Today the market was strong. I was looking to sell, but the market is only growing.
don't give up