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TST $30,000 Combine Journal


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TST $30,000 Combine Journal

  #21 (permalink)
byeung
Newcastle, WA
 
Posts: 37 since Jul 2015
Thanks Given: 13
Thanks Received: 44

I thought I had posted the 18th, but I guess not. +$574 for the day. I started out +$390 for the morning, and wiped most of that out with a couple of trades after the FOMC came out. Eventually was able to get trading in the right direction for a short, a bounce, and then another short.




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  #22 (permalink)
byeung
Newcastle, WA
 
Posts: 37 since Jul 2015
Thanks Given: 13
Thanks Received: 44

+$385, combine passed!

Honestly, the way I started out, I was really doubted whether or not I'd be able to pass this one. But I slowly climbed out of that hole, day by day, and finally hit my profit target.

I was determined to pass the combine today and perhaps overtraded a bit. Again I started shorting in not the best trade locations, but was able to scalp around the bounce up to the top of value and get a few ticks.

Again, I made a series of poor long entries before the market got to the 17300 level, that I had to exit for losses. I was finally able to get to a couple of decent entries near 17300. Exited one for +15, the next for +30, and the last lot for about for +58 (almost exactly what I needed to get to 31,500).

Now comes FTP. The last time I had one I blew it up on the first day! I think I will start out a bit more conservative this time.

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  #23 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097


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  #24 (permalink)
 zkendr 
Tucson
 
Experience: Intermediate
Platform: TDA, Ninja
Trading: ES, NQ, TF, CL
Posts: 39 since Jul 2015
Thanks Given: 7
Thanks Received: 31

Nicely done...

What is FTP and what are the requirements?

thanks

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  #25 (permalink)
byeung
Newcastle, WA
 
Posts: 37 since Jul 2015
Thanks Given: 13
Thanks Received: 44


iqgod View Post
Congratulations!

Thank you!

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  #26 (permalink)
byeung
Newcastle, WA
 
Posts: 37 since Jul 2015
Thanks Given: 13
Thanks Received: 44


zkendr View Post
Nicely done...

What is FTP and what are the requirements?

thanks

Thank you! FTP is Funded Traded Preparation, the last step before being funded. I have to trade the product that I was profitable in for the combine, YM. The profit target is 1/3 of the combine, $500, but I must have a positive balance after 10 days to continue trading, and I have up to 60 days to meet the target.

Daily loss limit is still $500, and max drawdown is still $1500.

Also, I must adhere to the funded scaling plan, so I have a maximum of 2 lots vs 3 in the combine.


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  #27 (permalink)
 Bader 
Sydney
 
Experience: Intermediate
Platform: Sierra chart
Trading: Crude
Posts: 7 since May 2016
Thanks Given: 10
Thanks Received: 13

Nice job. Now just keep doing what you have been doing and voila! Another funded trader. Great job!

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  #28 (permalink)
byeung
Newcastle, WA
 
Posts: 37 since Jul 2015
Thanks Given: 13
Thanks Received: 44


Bader View Post
Nice job. Now just keep doing what you have been doing and voila! Another funded trader. Great job!

Thanks, I appreciate it. Unfortunately, the first day of FTP was a losing day. I didn't break my loss limit though, so I'm still in the game and tomorrow is another day!

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  #29 (permalink)
byeung
Newcastle, WA
 
Posts: 37 since Jul 2015
Thanks Given: 13
Thanks Received: 44

-$283.

The only positive today was that I stopped before I hit my loss limit. I was totally out of sync, but recognized it early and stopped for the day before I did too much damage.

I was considering not trading today, because I saw that it was a trending day and I have problems trading these. Today especially was just a slow grind upwards, and it was hard to spot a good place to get long.

I probably should have stayed on the sidelines today. If I wanted to short, I should have taken quick scalps at previous resistance levels.

Hopefully today is a learning experience, and I get better at trading trend days. Part of the problem is one of my rules is waiting for half an hour after the open to see how the market is. On these types of days, you miss most of the move if you do that, and if not, it's really hard to find a good entry.


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  #30 (permalink)
byeung
Newcastle, WA
 
Posts: 37 since Jul 2015
Thanks Given: 13
Thanks Received: 44


+$155.

Today I had a long bias and wanted to take a trade WITH trend, and was able to do that. Bad thing was I exited way too early and accidentally got short. I then compounded this mistake by not exiting right away, and tried to salvage the trade a few times by adding to my loser.

Finally I was able to get long again with two lots and got +45 ticks on the 2nd lot.

Later I had a poorly located short which I had to trade around again before getting 20 ticks on my last lot.

I had some good trades, but still making too many mistakes.


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Last Updated on June 6, 2016


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