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

  #1 (permalink)
Trading Apprentice
Baton Rouge, LA - USA
 
Futures Experience: None
Platform: NinjaTrader, RTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 15 since Sep 2016
Thanks: 9 given, 20 received

nguyen74's TopStep $150,000 Trading Combine

Hi,

I am a new member here (my second post after my introduction) but I've frequent this forum over the past years. I'm also new at futures trading. I've never traded futures live before. I want to take this opportunity to start a journal on my $150,000 combine with Topstep Trader. It will serve multiple purposes to help me document my trades and my thoughts, to get feedback/encouragement from more experienced members, to become a better trader and possibly to give hope to others among other reasons.

So here's the result of my first day trading in the combine and my Ninjatrader chart with entries and exits...


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I went long during the opening 5min candle due to overnight reversal and strong buying at the open. Since this is my first day of my first combine, I wanted to hold only a small position relative to the max number of contracts I'm allowed to have open. I was holding 1 or 2 positions and bought and sold another 1 or 2 contracts as market moved up the whole morning. So the maximum number of contracts I had opened was 4. I sold half position at 2133.50 due to resistance on 25k volume chart then bought back a couple of contracts on pullback since I wasn't convince that the daily trend had ended. Sold half at 2133 and let the rest hit target of 2136.

Nice entry at 2135 if had enter again but made my mind to be done for the day. It was a great start to hopefully a successful combine.

Please don't hesitate to contribute your ideas, suggestions, or anything you may have to add that will help me or others reading this.

Thanks!

nguyen74

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  #2 (permalink)
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  #3 (permalink)
Trading Apprentice
Baton Rouge, LA - USA
 
Futures Experience: None
Platform: NinjaTrader, RTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 15 since Sep 2016
Thanks: 9 given, 20 received

I entered the FIO Journal Challenge


I entered the FIO Journal Challenge. If you're following my journal and reading this, please take some time to vote for me by hitting the "thanks" button on my post at the link below...

https://futures.io/feedback-announcements/40234-fio-journal-challenge-september-2016-a-3.html#post595321

Thanks!

nguyen74

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  #4 (permalink)
Elite Member
Auckland
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: Zen-Fire
Favorite Futures: CL and ES
 
Posts: 710 since Apr 2010
Thanks: 3,715 given, 661 received

Excellent Start

Well done...stick to your plan

And keep discipline throughout your trades.

Always nice to see people making it in trading and keep it simple.


Congratulations on your journal too.


Sharmas

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  #5 (permalink)
Trading Apprentice
Baton Rouge, LA - USA
 
Futures Experience: None
Platform: NinjaTrader, RTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 15 since Sep 2016
Thanks: 9 given, 20 received

Okay, well it sure didn't take long for me to fail the $150,000 combine. I started off pretty good the first day. The 2nd day I was distracted while waiting for my entry. Someone living with me asked me to move my car and by the time I came back the ES took off 6 points. I chased and it reversed and I got stopped out. From there I failed to see that the daily trend was down and I kept traded counter to the trend the whole day without thinking about what I was doing. I over traded was constantly getting stopped out and eventually hit my allowable daily loss limit. Had I lower my targets, it wouldn't have been that bad.

I've decided to reset my combine and start again as it's less expensive than starting a smaller combine. This time around I need to be more disciplined and patience on my entries. I need to take a step back and really see where the market is telling me. Hopefully, my journal will also improve.

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  #6 (permalink)
Market Wizard
Duluth MN
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra Chart
Broker/Data: AMP
Favorite Futures: ES
 
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I noticed that you trade a very small amount of contracts relative to what they allow.

This is allowing you a MUCH better chance at beating the combine than those that trade 10+

I beat that combine, and you can too. Put the time and thought into it.

Take a look at my journal's first post and I mention TST stuff.

Lastly, don't lower your targets, because the only thing that does is lessen the money you make when you pick the right direction

(Look at my post on "asymmetrical returns.")


Good luck! I will follow along! I wish you the best!

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  #7 (permalink)
Trading Apprentice
Baton Rouge, LA - USA
 
Futures Experience: None
Platform: NinjaTrader, RTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 15 since Sep 2016
Thanks: 9 given, 20 received

I will definitely read your journal. I do very much appreciate the encouragement and the feedback. I reset the combine and will be posting the trades and results from the new combine when TST updates my trade report.

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  #8 (permalink)
Trading Apprentice
Baton Rouge, LA - USA
 
Futures Experience: None
Platform: NinjaTrader, RTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 15 since Sep 2016
Thanks: 9 given, 20 received

$150,000 Combine Reset - Day 1

We had an long red candle on the SPX, SPY on Friday the 9th closing at the LOD. Monday we opened down from the previous session and bounced at the open closing near the HOD. Tuesday and Wednesday sessions tested the Monday low and held even though both days closed red. With that context, I expected a green day today testing both the lows and highs of the previous sessions.

There was some chop at the open and I didn't quite get the entry I should have and got stopped. I got back in on the next 5m candle on 2 contracts and meant to add another contract as the ES formed a wick at 2119 but due to user error, I selected the wrong one while right-clicking on the chart and sold 1 contract instead so I added another contract at 2121. I sold 1 at 2126.25 and got stopped out of the other one at 2124.75. Bought 2 contracts at 2126.25 and another at 2134.75 looking to unload at 2140's but I got stopped out. I gotten stopped out a few times today while looking for price to reach my targets. They eventually did except towards the EOD but I was also getting stopped out before price moved in my favor. I need to get better on my entries but I'm thinking I keep getting stopped out. I need a solution...

Anyhow this is the chart and the result today...

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  #9 (permalink)
Trading Apprentice
Baton Rouge, LA - USA
 
Futures Experience: None
Platform: NinjaTrader, RTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 15 since Sep 2016
Thanks: 9 given, 20 received


Probabilistico View Post
If in good day you gain 3.000
(but you have to count your AVERAGE profit day that i think is much lower)
in bad days you HAVE TO STOP at half of that level for example 1.500.

And because your max drawdown is 4.000
i think it's better a daily loss limit of 1.000.

With 1.000 loss limit you will never hit neither your 3.000 daily loss limit (quite sure)
nor your 4.000 max drawdown (less sure).

With my 100.000 combine i stop my day at 1.000
but my trading system hardly ever got there.
My average gain day is 500
and i stop my average losing day at 300.

That's all about trading and this is the MOST difficult task !

Good trading!

You are right about limiting daily lost to much less than what the combine allows. That is part of the reason I try to limit the number of contracts I trade and focus on being able to quickly identify the daily trend/range and trade accordingly.

I see some traders are very methodical in the way they trade and would place only 1 or 2 trades with 3-4 contracts each. They would have one or two targets and stop loss. Once their target 1 hit they sell 2 or half then move stop up to break-even. So either they make at least make their first target or stop out and be done for the day. Something like that would be a way of limiting loss right? But where to enter a trade so you don't get stop out most of the time before your first target is hit. My stop and target would have to be different for each trade depending on what the market is doing right?

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  #10 (permalink)
Trading Apprentice
Baton Rouge, LA - USA
 
Futures Experience: None
Platform: NinjaTrader, RTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 15 since Sep 2016
Thanks: 9 given, 20 received

Getting Killed...


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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