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Takoda Trading Journal


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Takoda Trading Journal

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  #1 (permalink)
Beech Mountain, NC / USA
 
 
Posts: 6 since Aug 2019
Thanks: 0 given, 2 received

I plan to participate in trading combines offered by various "Funders". The ultimate goal will be to pass the combine and reach the required target in a funded account to make a withdrawal. This will allow me to answer one of the most commonly asked questions about Funders - "Are they legitimate"

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  #2 (permalink)
Beech Mountain, NC / USA
 
 
Posts: 6 since Aug 2019
Thanks: 0 given, 2 received

Currently trading the following two Futures combines -

Uprofit 75K
  • Profit Target - $4250
  • Max Contracts - 8
  • Daily Loss Limit - $1600
  • Drawdown - $2500
  • Minimum Trading Days - 10

Earn2Trade 50K
  • Profit Target - $3000
  • Max Contracts - 6
  • Daily Loss Limit - $1100
  • Drawdown - $2000
  • Minimum Trading Days - 15

I started trading 2 separate combines on 12/31/20, I started with these because both Funders were offering a 50% lifetime discount, this means as long as I keep the evaluation account open I'll receive 50% off the monthly fee. I am not trying to pass the evaluations in the minimum number of days. My target is to pass them and become funded in 2 months, this gives me approximately 40 trading days, with what I feel will be realistic daily goals.

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  #3 (permalink)
Beech Mountain, NC / USA
 
 
Posts: 6 since Aug 2019
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Uprofit
December 31, 2020

+$25

Product: NQ

Contracts: 1

Trade type: Short

Time in trade: 11 minutes

Goal - New Years eve so I didn't want to be in the market for very long, just wanted a quick small profit to start combine. Price was bouncing off of the pivot point and looked to be trending lower.

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  #4 (permalink)
Beech Mountain, NC / USA
 
 
Posts: 6 since Aug 2019
Thanks: 0 given, 2 received

Earn2Trade
December 31, 2020

+$71.12

Product: NQ

Contracts: 2

Trade type: Short

Time in trade: 18 minutes

Goal - New Years eve so I didn't want to be in the market for very long, just wanted a quick small profit to start combine. Price was bouncing off of the pivot point and looked to be trending lower. I entered too early on the first contract (need to have more patience), then averaged in on the second contract closer to the pivot point. Loss of $49.44 on first contract, gain of $120.56 on second contract.

I typically do not trade NQ during normal hours because it moves too fast but volume was lower today and I felt comfortable with the price movement.

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  #5 (permalink)
Beech Mountain, NC / USA
 
 
Posts: 6 since Aug 2019
Thanks: 0 given, 2 received

Earn2Trade

+$203.62

Product: ES

# of Trades: 2

Trade type: 2 Shorts

Total Time in Market: 4 minutes



Took trade #1 at open, trend was down in premarket and I was watching for a break of the 3762 area. I went short 1 contract at 3757 when it broke down at open. Took 2.25 point profit in about 1 1/2 minutes. In and out quickly because of the potential to get whipsawed during market open.

Was watching for reversal, which never happened. ES just kept moving lower, 3707 was another key area I was watching. When it broke through I went short 1 contract at 3704.50 with a target just above 3700. I like to be off of the big, round numbers a little with my profit target so came out of the trade at 3702.50 for another 2 points.

Same as the Uprofit summary for today, happy with a total of 4.25 points profit on this account, of course anyone who was watching ES this morning knows I could have taken much, much more but trading a combine is all about small consistent profits each day versus one big win.



Combine Profit Goal: $3000

Days Traded: 2

Total Profit: $274.74



----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------


Uprofit

+$202.50

Product: ES

# of Trades: 2

Trade type: 2 Shorts

Total Time in Market: 5 minutes



Took trade #1 on the break of 3750, I went short 1 contract at 3748.50, looked like there was a volume cluster around 3745 that it was moving to, I set my profit target just above 3745 and was out at 3746.25 with a quick 2.25 points.

Trade #2 was basically watching price action and volume, it was still heading down with conviction and had just broke through a volume cluster around 3718 so I went short 1 contract at 3716.25, took profit at 3714.25 for another 2 points.

Same as the Earn2Trade summary for today - Happy with a total of 4.25 points profit on this account, of course anyone who was watching ES this morning knows I could have taken much, much more but trading a combine is all about small consistent profits each day versus one big win


Combine Profit Goal: $4250

Days Traded: 2

Total Profit: $227.50

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  #6 (permalink)
Beech Mountain, NC / USA
 
 
Posts: 6 since Aug 2019
Thanks: 0 given, 2 received

It is a lot harder to write about bad days than good ones, but going through the process still needs to be done... I'm not happy with my trading decisions today. I had my initial trades on both accounts get stopped out. I should have walked away for awhile and re-evaluated but the 'traders ego' took control and I put more trades on.

I hit my daily draw down on Uprofit and had to do a reset on the account. Here are the trades:

Uprofit

-$1607.50

Product: ES

Trade type: 1 Long, 3 Shorts


Trade #1
Long at 3713.50
Stopped out 3698.50
-$755

This is where I should have hit the pause button on trading but the market started moving lower and it looked like an opportunity to recover my losses.

Trade #2

Scaled into 3 contracts as it continued lower, expecting it breakdown into the 3685 area. Trade was actually going well, hit approximately 3690, almost at breakeven for the day, then it bounced right back up and took out my stop. Poor trade management put me too close to the daily draw down when adding commissions and here comes a reset.

Short 3698
Short 3695.50
Short 3692.75
Stopped out 3701
-$852.50

Sorry, forgot to take a screen shot of RTrader before I did the reset so no graphic for these trades.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Earn2Trade

+$286.68

Product: ES

Trade type: 1 Long, 2 Shorts

Things were a little better on the Earn2Trade account, I did make a profit but still let my emotions take control and don't feel great about the way I traded.

Trade #1
Long at 3709
Stopped out 3698.50
-$529.44

Trade #2
Scaled into 2 contracts on the break lower, was able to hit my profit target and recoup my initial loss and add some profit.

Short at 3699.50
Short at 3697.50
TP at 3690.25
+$816.12

Combine Profit Goal: $3000

Days Traded: 3

Total Profit: $561.42

Remaining to Goal: $2438.58

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

After reset on Uprofit

+$310

Product: ES

Trade type: 3 Shorts

I took a breath and this time was able to time my trades a little better.

Trade #1
Short at 3694.50
Short at 3694.25
TP at 3692.50
+$177.50

Trade #2
Short at 3690.75
TP at 3688
+$132.50

Combine Profit Goal: $4250

Days Traded: 1

Total Profit: $310

Remaining to Goal: $3940.00

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