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nguyen74's TopStep $150,000 Trading Combine
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nguyen74's TopStep $150,000 Trading Combine

  #11 (permalink)
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Madrid - Spain
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Hi @nguyen74

The problem i see , is that you didn't know wich type of day was, and your expectations were biggers than the action expected. If the market is developing a balanced area, expecting the break of it, or targets biggers than the self range is a mistake.
Normally at this type of days, traders take wrong positions, like trading in the middle of the balanced action, take longs in the highs or shorts in the lows, with the risk inside and near to the vpoc of the day.
Naked charts are nicely, but i recommed you to use a volume profile tool or a volumeladder chart to know how is the volume being traded. You will understand better if your expectations are accordingly with what the market is doing or not, and know what you need to do objectively.

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  #12 (permalink)
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nguyen74 View Post
I haven't really had time to update my journal the last couple of days until today...

I was beaten to a pulp my the market this past Friday, trading-wise and emotionally and psychologically. I nearly wanted to throw in the towel towards the end of the day.

I was awoken in the middle of the night so I decided to enter a position during that time with one contract at 2130.25. I didn't take profit at 2134 but instead over an hour later I bought another contract at 2128.25 as the market was turning down a bit. I had two chances o get out at 2135 with a nice profit but I didn't and it turned on me. I only came out with about $75. My next two long position would also given me a nice profit had I got out at the right time. Instead I switched to short and got stopped out. Then I switched to long again and formed a position as the market was pulling back. Eventually, it reached an area I felt uncomfortable and I close the position with another loss. The ES then turned and recovered in the direction I initially thought it would so I chased (revenge trade) and as I entered my position, it pulled back a few points and I got stopped out. As expected, after I got stopped out, it resume its move upward.

Taking a step back and looking at the day after the fact I can see that had I held on to the position that I took at 2124, I would also have been ok. I could have scaled back as it approached 2132, and bought back on the pullback at around 10AM. Even if I held on until the end of the day, I would have been out with nice profits. Instead, I reverse to short as the ES decided it will stop pulling back then buying in as it decided to pull back again. I definitely over traded again and should have either taken profits or partial profits and moved my stop to break-eve. There were many times I could have taken some profits but I failed to act and it turned against me. Other times, I got in just as the market decided to change direction. Clearly, I need work in a lot of area...

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Looking at your charts I think you might want to define when you should step away from trading to cool off.
You started scaling in with 1 contract at a time, and then near the end of the day you were taking 5 contracts all at once. Looking at the combine requirements if you keep on trading when you are just not in the right state of mind, it'll be very easy to blow up the combine in a couple of trades.

You started off well, you had a bad day and it's fine. Learn from your losses and move on, you can do this!

Yesterday's excellence is today's standard and tomorrow's mediocrity
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  #13 (permalink)
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Omer עומר / Israel י
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Any new attempt at passing the 150K combine ?

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  #14 (permalink)
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Baton Rouge, LA - USA
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rleplae View Post
Any new attempt at passing the 150K combine ?


I have not made any attempts as I have stepped away from futures trading due to time constraints. I also want to re-evaulate myself.

Thanks for asking!

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