Maverick74 and marketsurfer's TopstepTrader Combine (daily trade reports and journal)

Quote from lilbit:

Quote from Maverick74:

I didn't take any trades today. This morning was painfully slow. No volume and small ranges. We got some range expansion in the afternoon on the selloff in ES and Oil but didn't want to trade that. Hard to believe it's Oct. I suspect the market wants to see how this first Presidential debate shakes out tomorrow night plus the jobs report on Friday.

The best trade this morning and one I "should" have taken was the long in the Euro. I was bidding for it but never got it. With the ranges as tight as they are, I'm not terribly motivated to pay up or chase anything. A lot of how I trade is based on volatility and volume and when there is neither of either, that's when you have to pass.

I trade a lot like a poker player. Everyday the market gives you cards. You decide if you want to bet, check or call. Well, I checked. Another thing, if I don't take any trades by 10:30 am central time, I usually check. I don't like to start trading around noon. There was a decent short in oil going into the lunch time hour but I didn't want that to be the first trade of the day.

As I said before, the name of this game is patience and discipline. There is no reason to be trading back and forth all day long taking random trades. Pick your spots and manage your risk. [/QUOTE
Maverick74-
Does today count as a "non trade day" and you still have 9 days of trading left?
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Correct. I have 30 trading days in which I have to trade 10 of them. Can be any 10 days in that 30 day window.
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No trades today for Maverick74.


Here is a look at Marketsurfer's second day:
surf_day2.png
 
Quote from TST_Hoag:

No trades today for Maverick74.


Here is a look at Marketsurfer's second day:
surf_day2.png
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Nice job Surf. You are passing two out of the three performance metrics on Crude.
 
Quote from Maverick74:

I didn't take any trades today. This morning was painfully slow. No volume and small ranges. We got some range expansion in the afternoon on the selloff in ES and Oil but didn't want to trade that. Hard to believe it's Oct. I suspect the market wants to see how this first Presidential debate shakes out tomorrow night plus the jobs report on Friday.

The best trade this morning and one I "should" have taken was the long in the Euro. I was bidding for it but never got it. With the ranges as tight as they are, I'm not terribly motivated to pay up or chase anything. A lot of how I trade is based on volatility and volume and when there is neither of either, that's when you have to pass.

I trade a lot like a poker player. Everyday the market gives you cards. You decide if you want to bet, check or call. Well, I checked. Another thing, if I don't take any trades by 10:30 am central time, I usually check. I don't like to start trading around noon. There was a decent short in oil going into the lunch time hour but I didn't want that to be the first trade of the day.

As I said before, the name of this game is patience and discipline. There is no reason to be trading back and forth all day long taking random trades. Pick your spots and manage your risk.
More...

Newbies, print this and put it over your trading station. boring = good trading. Not a casino. Well done Mav.

[Mav, IMO from a global perspective your 10:30 central time is actually when good trends can reveal themselves due to eurozone. Consider trades on/after that time but not before. Can be seen if our news releases equal the noise (bouncing aimlessly on globex close price until EU close. Throw up the hard line at 10:30 central and it is involved in high or a low of the day session more often than not.]
 
Quote from Maverick74:

Nice job Surf. You are passing two out of the three performance metrics on Crude.
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Good point Maverick.. I hope we notice that the metrics are not that terribly difficult to achieve when you focus on proper trading mechanics instead of looking for profits alone. Funny thing is those profits will show up when those metrics are being met...

We have many daily that are eligible for a refund/rollover making really no money but meeting the performance criteria. We are very proud of these small achievements as they signal that the trader is showing sound trading fundamentals.

mp
 
Quote from satchel:

Newbies, print this and put it over your trading station. boring = good trading. Not a casino. Well done Mav.

[Mav, IMO from a global perspective your 10:30 central time is actually when good trends can reveal themselves due to eurozone. Consider trades on/after that time but not before. Can be seen if our news releases equal the noise (bouncing aimlessly on globex close price until EU close. Throw up the hard line at 10:30 central and it is involved in high or a low of the day session more often than not.]
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satchel- you are right.. this business can be so boring...it's a grind, you gotta get into it. The old hurry up and wait line.. ha

mp
 
Quote from satchel:

Newbies, print this and put it over your trading station. boring = good trading. Not a casino. Well done Mav.

[Mav, IMO from a global perspective your 10:30 central time is actually when good trends can reveal themselves due to eurozone. Consider trades on/after that time but not before. Can be seen if our news releases equal the noise (bouncing aimlessly on globex close price until EU close. Throw up the hard line at 10:30 central and it is involved in high or a low of the day session more often than not.]
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Yes but I have no feel jumping into the trading session that late. Most of the stuff I trade, oil, bonds and FX move before 10:30. Indices tend to make strong moves off the Europe close but I avoid the indices at all costs. BTW, that's not to say I don't take trades at 10:30, usually if the market is dead all morning with no volatility or no movement, more often then not you are going to get a choppy session. When there are big moves at 10:30 there is usually a setup off the 9:00 data or the 7:30 data. Today we had none of that.
 
Quote from MichaelPatak:

satchel- you are right.. this business can be so boring...it's a grind, you gotta get into it. The old hurry up and wait line.. ha

mp
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Michael, how did the top 20 do today?
 
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