Trade 01 6J
Short off a possible double top. Yet again not so strong level to play. Entry confirmed by volume and exhaustions with a little of selling momentum. Quick stop out.
Trade 02 6B
Same trade with the same result! Short off a possible local double top. Entry confirmed by volume, buying exhaustion and a little of a selling momentum. Another quick stop out.
Trade 01 6B
Long off a volume transition from premarket low. Entry confirmed by volume, selling exhaustion and a little buying momentum. Quick stop out with awful slippage. That was the last whip down before it rocketed up.
Trade 02 6J
Long off a volume transition from premarket low. Another stop out to the tick!
Trade 03 6E
Short off a triple top aligned with swing VWAP. Third stop of the day.
Total daily P/L: -$1665,60
Daily resumé: F
Ok, today is a breaking point. Six losses in a row and the combine rules are almost broken. Even though the account is down 1.1 %, I am going to revisit the methodology.
Last edited by rurier; April 11th, 2016 at 01:38 PM.
All right. Continuing with the concept. I have changed the entry point.
Trade 01 6J
Short off a double top which was also a double top from yesterday’s session. Entry confirmed by volume and a little of selling momentum. After 2:1 target the market whipped back to almost get me out. Luckily it turned south again and went to get 3:1, 4:1 and 8:1 levels. Too bad the recorder was off. Image only.
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Yet another rollercoaster day. Eight trades. 6 losses and 3 winners. Was again down some $2000 and made it back to only -$103.
The market made a double top at a previous level. Entry confirmed by volume and selling momentum. Got all risk to reward levels and even the final target at previous swing low volume transiti
I had a level for long and it stopped me three times in a row before it finally went up. There are two trades on the video. First got me to 2:1 and 3:1 before whipping back. The second trade got me up to 8:1 before stopping me out at VWAP.
Total daily P/L: -$103,05
Daily resumé: D
Last edited by rurier; April 23rd, 2016 at 03:08 PM.
Trading Journal for FIO Journal Challenge - September 2016
All right, a new challenge begins tomorrow.
What is my plan going to be?
Game rules: I will try to follow the current Topstep Trader Trading Combine plan for 30k. That means:
Initial account balance: $30 000
Max size: 3 lots
Max daily loss: $500
Max drawdown: $1500
Profit target: $1500 (my daily profit is set to $300)
Strategy: Trading reversals or breakouts from previous decision points. After entry, stop is set behind a local cluster of volume. Targets are set to risk reward ratios 2:1, 3:1 and 7:1. If the trade goes my way the stop follows the value area edge and then the swing VWAP.
Last edited by rurier; September 1st, 2016 at 06:10 AM.
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