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Ryan's Funded TopStep & Beyond Trading Journal
Started:October 1st, 2016 (09:42 PM) by ryanzw Views / Replies:2,708 / 42
Last Reply:October 19th, 2016 (02:36 PM) Attachments:12

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Ryan's Funded TopStep & Beyond Trading Journal

Old October 6th, 2016, 03:47 PM   #31 (permalink)
Trading Apprentice
scottsdale, az
 
Futures Experience: Beginner
Platform: multicharts
Favorite Futures: NQ
 
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HoopyTrading View Post
Pardon me for being ignorant, but your gross profit is over 600 bux, and your drawdown looks like -37 bux? Why are they making you sweat?

You're doing super! 600 bux in four hours?!? That $150 per hour working in your cozies with some coffee at hand and sitting in a comfy chair.

TST says this is bad?

Today I was sim trading, not trading in the top step live account. I have a weekly max loss of -1000 and am currently just under that so I have no choice but to wait until Monday to live trade again.

Today and tomorrow I am just sim trading for practice.

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Old October 6th, 2016, 03:49 PM   #32 (permalink)
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bobwest View Post
Everyone who has traded live has experienced exactly this. It's why sim is not anything like live trading, and why even the Combine, where you do have something at stake, can still fail to prepare you fully.

When there is money on the line, your entire psychology can change. Hopefully, the Combine trading can help you deal with the reality of risk, but if not, then you will need to master it somehow or another.

Being aware of it is a start. Your ability to be objective, or even rational, or even not-freaking-crazy, is seriously at risk when there is any kind of real money involved.

This would be an interesting thread for you to look at, and ponder what it tells you about trading live: https://futures.io/psychology-money-management/35267-account-blown-up.html

Just another hurdle to go over.

Again, good luck.

Bob.

That's a great thread for me to read, thanks Bob.

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Old October 6th, 2016, 03:58 PM   #33 (permalink)
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ryanzw View Post
Today I was sim trading, not trading in the top step live account. I have a weekly max loss of -1000 and am currently just under that so I have no choice but to wait until Monday to live trade again.

Today and tomorrow I am just sim trading for practice.

There's one nickel of free advice I can give you when it comes to trading, if I may be so bold.. If you are feeling burned-out at the end of a Thursday, and not under a time-constraint, just take a Friday off. No sim trading. Just fishing, Fritos and whatever hehe. Fridays tend to suck anyways for price action in many markets, on many occasions. Take a breather. Relax, let your brain chill, gather your thoughts.

Take a 3-day weekend to study and reflect upon your trades and logs. The markets aren't going anywhere and will be there when you get back, and you might feel refreshed for the following Monday session and do better than the previous week because you took a little vacation!

It works! Try it! It's like a Bianca Blast for the mind! (Anyone remember Bianca Blast spray? Whooo, potent!)

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Old October 6th, 2016, 05:20 PM   #34 (permalink)
Market Wizard
Sarasota FL
 
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HoopyTrading View Post
There's one nickel of free advice I can give you when it comes to trading, if I may be so bold.. If you are feeling burned-out at the end of a Thursday, and not under a time-constraint, just take a Friday off. No sim trading. Just fishing, Fritos and whatever hehe. Fridays tend to suck anyways for price action in many markets, on many occasions. Take a breather. Relax, let your brain chill, gather your thoughts.

Take a 3-day weekend to study and reflect upon your trades and logs. The markets aren't going anywhere and will be there when you get back, and you might feel refreshed for the following Monday session and do better than the previous week because you took a little vacation!

It works! Try it! It's like a Bianca Blast for the mind! (Anyone remember Bianca Blast spray? Whooo, potent!)

Excellent advice, worth way more than a nickel.

Let the mind decompress....

Bob.

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Old October 6th, 2016, 11:03 PM   #35 (permalink)
Elite Member
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Futures Edge on FIO
@ryanzw , thanks for sharing your experiences here.
I think a major reason most retail traders fail is the lack of accountability for their actions. Trading solo at home without a boss or fellow employees means no oversight, no enforcement of rules,no structure and no peer pressure. This means that if we break rules, take huge losses, it's done in private and while it can be very painful psychologically, we don't suffer the added shame of having failed in public and of letting our company / coworkers down.The fear of doing the latter can be a great motivator .
You have actually chosen a good situation since you have rules imposed by TST, and you are sharing your trades in public here. But I think it takes most traders a very long time to adapt to live trading, regardless of how well they do in SIM.
Personally, I can trade with ease and win everyday in SIM. But I still struggle everyday trading live.
So I wish you the best in this part of the journey.

As to your trading system, I understand that you are fading levels based on the OR, which is something I also do, but do you have another trigger to enter -- eg TICK divergence when price reaches your levels ? Do you enter with limit orders or wait until price moves your way and enter @ market ?

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Old October 7th, 2016, 01:14 AM   #36 (permalink)
Trading Apprentice
scottsdale, az
 
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Stillgreen View Post
@ryanzw , thanks for sharing your experiences here.
I think a major reason most retail traders fail is the lack of accountability for their actions. Trading solo at home without a boss or fellow employees means no oversight, no enforcement of rules,no structure and no peer pressure. This means that if we break rules, take huge losses, it's done in private and while it can be very painful psychologically, we don't suffer the added shame of having failed in public and of letting our company / coworkers down.The fear of doing the latter can be a great motivator .
You have actually chosen a good situation since you have rules imposed by TST, and you are sharing your trades in public here. But I think it takes most traders a very long time to adapt to live trading, regardless of how well they do in SIM.
Personally, I can trade with ease and win everyday in SIM. But I still struggle everyday trading live.
So I wish you the best in this part of the journey.

As to your trading system, I understand that you are fading levels based on the OR, which is something I also do, but do you have another trigger to enter -- eg TICK divergence when price reaches your levels ? Do you enter with limit orders or wait until price moves your way and enter @ market ?

I fade levels based on the OR but also use them on trend days to stay with trend as each level breaks and holds. I don't have any other triggers, often times I just watch price test a level and if it looks like it's holding I go ahead and enter. I don't use market orders to enter, I usually just click on the dom price with a limit order.

I agree about having no oversight or accountability, that is a big problem for me I think.

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Old October 7th, 2016, 01:19 AM   #37 (permalink)
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Just wanted to add to my previous post, here were my levels this morning on the NQ. First I was trying longs from the -100% area, then on the fail and break of the -50/-61.8 levels I shorted it down to the -200 and switched long. Then once it reclaims on the -50/-61.8 over the VWAP it becomes a long setup.

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Old October 7th, 2016, 02:34 PM   #38 (permalink)
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Traded sim again today and did well. I followed my strategy as perfectly as I could and it worked well.

On Monday when I start live I will trade as if I am still on sim, follow the plan as closely as possible.

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Old October 11th, 2016, 12:27 AM   #39 (permalink)
Elite Member
Phoenix, AZ
 
Futures Experience: Intermediate
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Favorite Futures: Emmini ES
 
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Congrats Fellow Topstepper...


rocksolid68 View Post
I look forward to seeing how you trade!

Congratulations on beating the combine! Remember, this first week of being funded is the most important!


Congrats on finishing the combine- I started my first combine in April 2016(first time trader) and trade ES. I have busted four combines. I am in a $100k right now. I started to implode again last week. I was up $1000 and started over-trading again and lost $1100. Since then- I cooled himself down. I have comeback. I am up $800 over the trail down. I make good trades. I just need to stay in check. I am willing to hear any trade ideas or setups or suggestions on staying cool but finding your next trade.

John

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Old October 11th, 2016, 02:39 PM   #40 (permalink)
Trading Apprentice
scottsdale, az
 
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Unfortunately I have lost my top step account, time to go back to the drawing board. Despite my extremely poor performance in the Topstep account I still believe I have a profitable trading methodology, its just my execution of that methodology that needs serious work.

I will take some time off from the journal but plan to start again after I figure out the next step.
Thanks for the support, unfortunate that I couldn't do better but I will be back again.

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