Cooltraderdude's TopstepTrader Combine (daily trade report and journal)

T

TST_Hoag

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Cooltraderdude has begun a 10-Day Combine (http://www.topsteptrader.com/Combine). The account parameters are $50K / 5 lot buying power / $1K daily loss limit. Cooltraderdude has 30 calendar days to complete the 10-Day Combine.

Cooltraderdude's Combine objective is to profit $3,500 and follow the Scouting Criteria: http://www.topsteptrader.com/scoutingcriteria. If at the end of Combine he has met the Combine objective, he will be provided with a fully-funded trading account (no capital contribution required) http://www.topsteptrader.com/fundedtrader.

Cooltraderdude's TopstepTrader profile: http://www.topsteptrader.com/ViewProfile/cooltraderdude/0/p/0

On this thread, we will be posting his trade reports (this is normally private for all TopstepTrader recruits, but cooltrader has agreed to let us post his reports), cooltrader will also be keeping a journal of his Combine experience on this thread.
 
CoolTraderDude, great chat on the phone last week and looking forward to seeing how you trade in the next 30 days. Patience and discipline is key... Remember trade smart and always trade for tomorrow.

mp
 
Allright...

Day 1 finished with -$150...

Had some issues with getting to know the platform but that's not the problem.

The problem is that I have to make $3500 to pass the Combine.

Assuming an average of $350 a day for 10 trading days this means that I'm actually down -$500... Due to the fact that I lost $150 and didn't make $350 today. That's just a rough way of looking at it...

So... Now I'm faced with a difficult choice... Go big or go home...! To have a chance at beating the Combine I need a big day tomorrow...!

My poker experience tells me that the more you fall behind, the harder it will be to beat the Combine. I have 9 trading days left in which to make $3650...

BUT here is the difficult choice... You have to take small losses and make big wins... If I trade bigger size the losses will get bigger as well.

Holding smaller size longer is another solution... But it's unlikely that I'll be able to pull off a $850 winner with just one lot...!

I'm looking at doing about 4 lots and waiting for a good opportunity in the market... I'll probably lose -$800 or I'll win +$800 on my next trading day.

Just some thoughts for now...
 
Hey CTD, I think it would be helpful if you can give some background on your. How long you have traded and what you normal trade and what your success has been. Thanks.
 
Quote from Maverick74:

Hey CTD, I think it would be helpful if you can give some background on your. How long you have traded and what you normal trade and what your success has been. Thanks.
More...

Been a trader for +10 years now... I've spent a good deal of them with a decent firm trading equities... My strategies were to trade size (as much as 15000 shares on a trade) with tight stops... I was a high frequency trader using hot keys rather than algos... I've had really good years in the past but those years are gone.

Any thoughts on what my next move should be in the Combine challenge...?

I can lose a little every day but that's not going to get the job done...
 
If you are open to some criticism, I'll give you some. Or maybe we'll call these things "suggestions". One, the ES had a f*cking 3 handle range today. I have stated on these threads before that I think ES is bar none the worst trading product ever made sans 2008. If you want to do well in this combine, drop it! Two, the Euro's best trading is from 2am central time to about 9am. The earlier the better. After 9am the Euro has no flow. Again, going to be hard to make money. Three, you are seriously over trading. I'm going to seriously recommend you trade crude, bonds, gold or even the grains. Now before you tell you me how volatile these products are or you have never traded them before, let me remind you that this is EXACTLY what combines like this are for. It's NOT real money. Just my opinions of course.
 
Quote from Maverick74:

If you are open to some criticism, I'll give you some. Or maybe we'll call these things "suggestions". One, the ES had a f*cking 3 handle range today. I have stated on these threads before that I think ES is bar none the worst trading product ever made sans 2008. If you want to do well in this combine, drop it! Two, the Euro's best trading is from 2am central time to about 9am. The earlier the better. After 9am the Euro has no flow. Again, going to be hard to make money. Three, you are seriously over trading. I'm going to seriously recommend you trade crude, bonds, gold or even the grains. Now before you tell you me how volatile these products are or you have never traded them before, let me remind you that this is EXACTLY what combines like this are for. It's NOT real money. Just my opinions of course.
More...

I know about the Euro...

Haven't really traded the other products... Crude and Euro sound good...

I still have to get positive on ES to pass...
 
Quote from CoolTraderDude:

Any thoughts on what my next move should be in the Combine challenge...?
More...

For one, I'm not sure that the following is a terribly productive way to approach the combine, or trading generally:

Quote from CoolTraderDude:

...The problem is that I have to make $3500 to pass the Combine.

Assuming an average of $350 a day for 10 trading days this means that I'm actually down -$500... Due to the fact that I lost $150 and didn't make $350 today. That's just a rough way of looking at it...
More...

Do you have a trading plan? What thought have you given to passing the combine? If you have a trading plan, then the only advice you need to hear is for you to trade your plan. If it is a sound plan, then the combine should be easy to pass without any thoughts crossing your mind as to how much you need to make on any particular day or on any particular trade.

If you don't have a plan, then you should see if TST will "re-set" your combine to give you a few days to come up with some sort of plan to pass the combine's requirements.

Right now, it seems as though you have no plan, or at least not a comprehensive plan. If so, then the only thing this little exercise will prove is that without a plan, passing the combine will be extremely unlikely.
 
Quote from cygnetnoir:

For one, I'm not sure that the following is a terribly productive way to approach the combine, or trading generally:



Do you have a trading plan? What thought have you given to passing the combine? If you have a trading plan, then the only advice you need to hear is for you to trade your plan. If it is a sound plan, then the combine should be easy to pass without any thoughts crossing your mind as to how much you need to make on any particular day or on any particular trade.

If you don't have a plan, then you should see if TST will "re-set" your combine to give you a few days to come up with some sort of plan to pass the combine's requirements.

Right now, it seems as though you have no plan, or at least not a comprehensive plan. If so, then the only thing this little exercise will prove is that without a plan, passing the combine will be extremely unlikely.
More...

Good post.

+1
 
yeah..I can't be believe you're wasting everyone's time including yours CoolTraderDude after all the hype


you should have already had an edge before starting the combine. As an "experienced trader" (your words not mine) you should have already known this.
 
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