Bedhog's 11.11 TopstepTrader Combine Journal - futures io
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Bedhog's 11.11 TopstepTrader Combine Journal


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Bedhog's 11.11 TopstepTrader Combine Journal

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  #11 (permalink)
 mykee 
Johor, Malaysia
 
Experience: Beginner
Platform: Sierra Chart
Trading: CL, GC
 
Posts: 186 since Oct 2013
Thanks: 1,286 given, 187 received

hi Bedhog,

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.


mykee

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  #12 (permalink)
 bedhog 
Chicago
 
Experience: Intermediate
Platform: Sierra Chart, ThinkOrSwim
Broker: Sierra Chart, Sierra Chart Data Feed, Topsteptrader/Rithmic
Trading: NQ
 
Posts: 12 since Jan 2011
Thanks: 7 given, 22 received


mykee View Post
hi Bedhog,

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.

mykee

Thank you for the well wishes mykee.

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  #13 (permalink)
 bedhog 
Chicago
 
Experience: Intermediate
Platform: Sierra Chart, ThinkOrSwim
Broker: Sierra Chart, Sierra Chart Data Feed, Topsteptrader/Rithmic
Trading: NQ
 
Posts: 12 since Jan 2011
Thanks: 7 given, 22 received


Summary
GC +31t
NQ +4t
CL +20t
+53t + $526.60 all-in

Everything was wonderful and I have nothing out of the ordinary to report.

The first trade was at 07:31 cst and the last trade was at 11:22 cst. Satisfied with these spoils, I did not trade the rest of the day.

I use Market Profile as my road-map and a 25 tick chart with ask/bid delta to dial-in entries.

It is essentially reading tape, except I don't have to remember what just scrolled off the screen.

It is fascinating to see price rejecting a level of interest multiple times and then moving in your intended direction.

When I have my wits about me, I trade Balance to Imbalance which encompasses all of these Wyckoff setups:

Jump The Creek = balance to imbalance
Break The Ice = balance to imbalance
Spring = rejection below balance
Inverted Spring = rejection above balance

It's all here:> Wyckoff Schematics

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  #14 (permalink)
 bedhog 
Chicago
 
Experience: Intermediate
Platform: Sierra Chart, ThinkOrSwim
Broker: Sierra Chart, Sierra Chart Data Feed, Topsteptrader/Rithmic
Trading: NQ
 
Posts: 12 since Jan 2011
Thanks: 7 given, 22 received

Summary Before getting the bad fills

3 wins, 5 losses, 3 entry+1 scratches
+14t, +$71.40 all-in

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.

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  #15 (permalink)
 bedhog 
Chicago
 
Experience: Intermediate
Platform: Sierra Chart, ThinkOrSwim
Broker: Sierra Chart, Sierra Chart Data Feed, Topsteptrader/Rithmic
Trading: NQ
 
Posts: 12 since Jan 2011
Thanks: 7 given, 22 received

Summary:
NQ -358t, -$1,792 all-in

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?

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  #16 (permalink)
Stager
Ukraine Kiev
 
 
Posts: 10 since Feb 2012
Thanks: 17 given, 2 received

Hi bedhog,
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

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  #17 (permalink)
 bedhog 
Chicago
 
Experience: Intermediate
Platform: Sierra Chart, ThinkOrSwim
Broker: Sierra Chart, Sierra Chart Data Feed, Topsteptrader/Rithmic
Trading: NQ
 
Posts: 12 since Jan 2011
Thanks: 7 given, 22 received

I blew out going hitting the daily loss limit and the trailing max drawdown.

This is a common pattern for me. I start out slow, have a small string of small winning days, develop a superman complex, and then go down in flames.

It is mix of bias, habit, trading by feel without regard to setups, no regard for risk, and no regard for tomorrow.

Where is the trader that stopped after expensing -$164 in GC 2 weeks ago? I'm going to go look for him now.

Thanks to all the forum members for the thanks and kind words.

Thread's dead, baby. Thread's dead.

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  #18 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,550 since Jan 2013
Thanks: 49,383 given, 21,935 received


bedhog View Post
I blew out going hitting the daily loss limit and the trailing max drawdown.

...

Where is the trader that stopped after expensing -$164 in GC 2 weeks ago? I'm going to go look for him now.

It's not unusual to have this kind of thing happen in a Combine. I've done it a few times....

I think you can find that trader again.

You have shown that you can trade well, so there are just some more things to work on....

Good luck in whatever you decide to do next.

Bob.

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