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Rogue MNQ 2/21 Journey


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Rogue MNQ 2/21 Journey

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  #41 (permalink)
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
 
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Posts: 39 since Jan 2021
Thanks: 45 given, 44 received

I started last week off ok, until Tuesday night. For some stupid reason I thought lets break my rules stop doing what worked for the past month (avoiding after hours)

So around 10pm I was caught up in the possibility of a volatile market after the state of the union. I was wrong. Ended up tapping out around midnight , RED. Of course had I waited until 2am est if my account would of survived, I would of repaired the damage from the previous week. As I was almost halfway back to 1500pts. But wasn't level headed in chop city.
Welp greed , revenge & karma clouded my judgement the rest of Wednesday. By about 10:30am I had blown my funded account on my 20th trading day. To add insult to injury it was my first day of the 2nd month of data fees to leeloo lol. Their customer service basically sent me wine , cheese & a tiny violin emojis. Oh well worth a shot for promo code or something.

Now I'm trying their express funded for the first time. Holy crap the double edge of playing with ridiculous size. Its been interesting. I'm itching to put my own money back in but waiting on a few variables before I'm comfortable with that again.

Now that I've burned myself yet again in the after hours session. I will definitely be treating my "business" like its bank hours or nothing. No need to walk around in the dark alley of the NQs looking for a sale.

This week I will follow my key times plan & stick to my process of simming to get in a scalping rhythm before "real" prop trades. Taking breaks after certain W/L tiers to clear my mind

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  #42 (permalink)
 bobwest 
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RogueJoules View Post
I started last week off ok, until Tuesday night. For some stupid reason I thought lets break my rules stop doing what worked for the past month (avoiding after hours)

So around 10pm I was caught up in the possibility of a volatile market after the state of the union. I was wrong. Ended up tapping out around midnight , RED. Of course had I waited until 2am est if my account would of survived, I would of repaired the damage from the previous week.

...

This week I will follow my key times plan & stick to my process of simming to get in a scalping rhythm before "real" prop trades. Taking breaks after certain W/L tiers to clear my mind

First, I'm sorry to read about the outcome, but you seem to be taking it as a learning opportunity, so that may be a net positive. Not one to be happy about, necessarily, and I understand that. I've had quite a few of those, and they did teach me something, eventually.

Second, and you may not care about this information because you have sworn off non-regular hours, but the markets have very distinct changes in character at different times during the night and into the day, because different groups of traders get involved based on their own time zones, and it can affect the opportunities you see. The thing to know is that it's not a random chaos, but that it has its own structure, at least sometimes. You may already know all this, but if not, I have observed some fairly reliable features:

Asian traders are generally more active during the early evening in US Eastern Time terms, up to around 2:00 AM ET. Because there's about a 6- or 7-hour time difference between the Eastern US and most of Europe, there is a distinct and reliable increase in trading volume that begins between 2:00 and 3:00 AM ET as they come in. There's a corresponding slump in volume around 11:00 AM as they leave for the day.

So I'm not surprised that you mentioned 2:00 AM in your post. I have attempted (with very poor success, due to the need to sleep ) to wake up in time for that rather reliable change. Quite often, the trends that essentially set the US open price are started then.

The worst time at all to trade the US markets seems to be during the earlier Asian session. I assume they just don't focus on US prices as much.

Sorry to go on about this, especially since you have no interest in trying to trade these market periods, but I thought I would point out that the "after hours" or "off hours" periods have something going on, and sometimes a trader who only wants to trade the US RTH will still benefit from checking on what the Europeans have been doing, as the US open approaches. (And if you already knew all this, well never mind.)

And by all means, good luck with your trading and with your rule-keeping. Sticking to one's rules can be one of the hardest things to do, for everyone, and is usually the most important.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #43 (permalink)
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
 
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Posts: 39 since Jan 2021
Thanks: 45 given, 44 received


Thanks for the wisdom. Yeah I tried to set my alarm for about 2 weeks in 2021 to get up & trade between 3-5am, that stretch when all the big moves had happened before RTH. I also value sleep lol.
You're right, a few others have also pointed out the volume spikes during those key times. Definitely worth reviewing everyday.

Good luck to you as well.

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  #44 (permalink)
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
 
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Posts: 39 since Jan 2021
Thanks: 45 given, 44 received

Holy crap crazy sad few weeks over here. The evening of my last post on the 7th we said goodbye to a special rescue doggie that everyone around us was very close to. She was about 12.5 or so.
So I took a day off but ended up quitting the ridiculous Express combines with Leeloo. It was fun to try but was forcing me to change habits in a long term self destructive way. Also my skill set isn't there yet to hit that profit target of 6k in 10 days. Yes I could play with mini's but I've been really good about being disciplined & making that size the forbidden fruit for me until I reach certain goals. So far Ive stayed in my micro lane in 2022.

Not as depressed as the last week or so but I've stopped the combine cycle for now, realizing my mind/heart isn't in it currently along with other priorities that require my focus.
That being said I'm still simming my normal routines & testing tradovate's holy grail of FREE community indicators lol. Playing/studying more orderflow/delta stuff & testing my brackets on Ninja too. Not to mention getting lost in TOS charts. Its like my trading view.

I'm not starting over, just cleaning up my charts. Keeping my scalper template & massaging puzzle pieces into my process to combat my weaker areas that get me into trouble.

Also taking lots of notes for the next stage of learning to lose in order to survive.

If you trade near your pets, learn to listen to them. They are an excellent signal to sit on your hands

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  #45 (permalink)
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
 
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Posts: 39 since Jan 2021
Thanks: 45 given, 44 received

Im still flirting with being a paid funded trader. Passed about 10 evals to become "funded" but for obvious reasons I tend to flame out breaking rules (theirs or my rules). The ironic part is since my last post in March I quit trying the express combine of 6k profit target in 10 days with potential for unlimited size with a 100k account. To hey there's another discount why dont we try again? My attempt at deliberate practice. For reference- Peak - Anders Ericsson

So thats where Im at, being disciplined with only touching micros. With regards to any combine I still tend to fight myself and the market trend at times by getting tilted & getting too large. Still working on walking away but really good about leaving at 11am est regardless of performance.
Being aware of this tendency Ive massaged my brackets to trailing breakeven triggers in order to limit my exposure when I do get too aggressive. Depending on if or when I add to a scalp position this helps my base position by taking smaller losses out of my hands when the market is moving too fast for me to manually adjust.

Part of me hates that my current perceived progress(style) is tied to prop firms. With my personal account I don't have the luxury to roll around with any size. Let alone take multiple losses. So being shell shocked with my losses in my personal this is the only way for me to feel the "real"money pressure. Regular Demo in my opinion gives a false sense of security.
On that note that's why I finally secured a legit part time job or 2 for first time since 2020 to help give me fresh eyes & stop feeling like I'm bleeding. But still just as motivated & passionate to improve , grow & flow with the daily trends.

My other takeaway over the last few months is 3 things:
1- Save your CHARTS, went to add something & totally messed my TOS up last week
2- OBS screen recording software is an excellent tool for reviewing your trading behavior. Think out loud if you can!
3- For the love of god! Wait until 9:45!


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  #46 (permalink)
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
 
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Posts: 39 since Jan 2021
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Finished my day in breakeven territory. Trading my leeloo funded express account, I was officially refunded the express fee too as advertised. Day 4 I went tilty & almost blew it up. Since then Ive been trading very small, quick scalps & remaining disciplined. Today is day 9, I followed my plan , waited 13mins after the open but chose to get too large at around 9:45-9:50. Hit my first loss limit. The next hour I proceeded to climb back for a very small net gain. Which Im happy with as it puts me back to where I was on day 3. Followed my rule of stopping at 11am est.

However on my other sim account I decided to take 1 more trade. Recently Ive noticed some great reversion setups around my kaufman average. Which is great if I acknowledge them! Trading the MNQ still & I blindly ignore the rising TNX & DXY potential signals. & I also ignored that my longer time frame kaufman was now In play. I dont use FIBS but I joke that theyre like my kama fibs.
Writing this down to remind myself that they're always in PLAY even if the breadth seems too high. Its the bleeping whipsaw index!
Attachment 326327

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  #47 (permalink)
 RogueJoules 
Portland , OR
 
Experience: Intermediate
Platform: Tradovate
Trading: MNQ , MES
 
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Posts: 39 since Jan 2021
Thanks: 45 given, 44 received

Been a crazy few weeks. I passed the topstep microswing 10k. Opted to stay in a optional funded evaluation phase. As I acknowledged that I needed more time. 6 days later , last monday I self sabotaged. Broke rules , lost funded status. By tuesday morning I almost blew up personal account. Wed- friday I casually traded demo. But was/is at a clear crossroads. The main 2 sources 1+1 = ME. 1 smartphone hotspot since july making me question my progress of the previous 6 months & basically throwing my patience out the win.
From 2021 last august post, Approximately 8 months into futures life & barely crawling thru the pain trains

Yikes! 1 year later , bigger funded account. Lasted longer but Same month , same blowup song & dance. I remember some guys saying they used to avoid Wednesdays... Im beginning to see why some plan to take the whole summer off or maybe just August for me. My crash started last tuesday. I over traded to barely get green. Then wed , thurs & friday I ignored that major red flag of changing loss limits & stops that occurred on Tuesday & just continued a textbook tilt hole that was damn near impossible to recover from. Like a lot of traders whether I kept my size small or not it seemed like last week the algos were relentlessly hunting those of us that got sloppy & impatient with previous price action rhythm. So once again Ive ignored rules, experienced the unfortunate revelation of pushing myself into a large loss on 1 day & now seeing the benefit of just taking a long weekend to get my head right & sit on my hands. Sure I wasted $93 of data fees in a four day tilt fest but what really stings is the 10 combine days & 17 days of masquerading as a funded trader. Went from trading confidently to trading blind & scared; focusing on the wrong details. Instead of that present moment. So I guess the best thing to do now is acknowledge where I went off the rails, address that behavior when it inevitably occurs. Rebuild confidence to fit the current environment & not force trades. I have felt like an idiot many times on this adventure. But last week needs to be my futures frying pan moment to learn from. The market can take whatever it wants if you don't protect it. ie confidence. I may never master this but I will be better off after these lessons. No pain no gain as they say. I got my angry run out last week, redlined my heart nicely. Now to be slow & methodical like a marathoner

My first step to fix this is to track my number of trades. I used to believe $100 in micro fees is plenty to hit a daily goal. Well that maybe true for some but thats still inviting quantity over quality.
Right now for me on this journey , quality = survivability.

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