Thanks for the kind words of encouragement. I will try to post some charts in the future explaining what I do if time permits. I still only trade 3 lots, but I like to add when a trade goes in my favor and price is doing what I want. I prefer scaling in and closing the entire position. In my opinion, for what it's worth, adding to your winners is the best way to maximize your profits. However, adding can be psychologically draining, especially when you watch your profits evaporate on your initial position that you were already up on. When it works though, the rewards can be massive.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Toad79's TopstepTrader Combine Journal
- Thread starter TraderToad
- Start date
- Status
- Not open for further replies.
Thanks for the kind words of encouragement. I will try to post some charts in the future explaining what I do if time permits. I still only trade 3 lots, but I like to add when a trade goes in my favor and price is doing what I want. I prefer scaling in and closing the entire position. In my opinion, for what it's worth, adding to your winners is the best way to maximize your profits. However, adding can be psychologically draining, especially when you watch your profits evaporate on your initial position that you were already up on. When it works though, the rewards can be massive.
Day 6
The price action of crude was incredible today to say the least. I caught a piece of the first leg up and that was enough for me to finish up for the day +$1165. I was anticipating a follow through move, but I ran out of time and missed it because I had a contractor I had to deal with at the house, then work.
Six days into the combine and things seem to be going somewhat as planned. I feel I have traded decent, but I still feel l could have done better.
For now I gotta get some rest, good night.
The price action of crude was incredible today to say the least. I caught a piece of the first leg up and that was enough for me to finish up for the day +$1165. I was anticipating a follow through move, but I ran out of time and missed it because I had a contractor I had to deal with at the house, then work.
Six days into the combine and things seem to be going somewhat as planned. I feel I have traded decent, but I still feel l could have done better.
For now I gotta get some rest, good night.
Attachments
Today started off a little rocky and the volatility caught me a little off guard to be honest. It seems like volatility has picked up a notch since I last traded last week. If things get more volatile, I may be forced to decrease my size and widen my stop a little. For now, I will continue to run with my 3 lot 12 tick stop plan of attack. Other than being a little out of sync at the beginning, I think I did okay today. I finished +$1650 by 10:00am, allowing me to enjoy the rest of my day. We have grandparents staying at the house for the next couple days, so I have to really be mindful of my expectations. Anyways, going to post my Top Step Trader report later tonight after it updates. Enjoy the day!
TraderToad
TraderToad
Thanks for this journal. I also trade crude and it is very helpful to see the performance of other traders to gauge what is possible, likely, doable.
Do you have a scalping system in store in case you need to bump up your winning % at the end? One thought is after a big day up, try scalping 4 ticks during the lunch hour (target 4 ticks, stop 11 ticks) to boost the winning percentage. Just a thought for whatever it is worth.
Best of luck, and thanks again.
Do you have a scalping system in store in case you need to bump up your winning % at the end? One thought is after a big day up, try scalping 4 ticks during the lunch hour (target 4 ticks, stop 11 ticks) to boost the winning percentage. Just a thought for whatever it is worth.
Best of luck, and thanks again.
Day 8
Bad trading today and I should have not traded. Got to bed kind of late, my son kept us up all night crying, and I was just too tired to perform the way I should have. Not to mention, I felt rushed trading with family in town. CL seemed choppier this morning which I also seem to struggle with at times. I only have so many days I can actually trade the combine because of my other job and I need to take advantage of the days I am able to trade. However, days like today I should have used one of my spare days and not traded. My judgement seemed impaired, I was impatient, and nothing went right. I finished down -$2975. I still have 12 days left in the combine and this is partially why I have given myself some wiggle room to try and finish green for the day, but today that was just not happening and I should have swallowed my pride and pulled the plug a little earlier. Anyway, I am a hair under where I should be right now if I am going to reach the 12k profit target Top Step Trader has set for me, but I know a big day is just around the corner that will thrust me towards the overall profit goal. Not too much else to say tonight.
TraderToad
Bad trading today and I should have not traded. Got to bed kind of late, my son kept us up all night crying, and I was just too tired to perform the way I should have. Not to mention, I felt rushed trading with family in town. CL seemed choppier this morning which I also seem to struggle with at times. I only have so many days I can actually trade the combine because of my other job and I need to take advantage of the days I am able to trade. However, days like today I should have used one of my spare days and not traded. My judgement seemed impaired, I was impatient, and nothing went right. I finished down -$2975. I still have 12 days left in the combine and this is partially why I have given myself some wiggle room to try and finish green for the day, but today that was just not happening and I should have swallowed my pride and pulled the plug a little earlier. Anyway, I am a hair under where I should be right now if I am going to reach the 12k profit target Top Step Trader has set for me, but I know a big day is just around the corner that will thrust me towards the overall profit goal. Not too much else to say tonight.
TraderToad
Attachments
Quote from Tonkadad:
Great job!
Except for 1 day you had more losers than winners and win percentage is 40% and you are killing it.
Can you describe your trading style? PA/TA, indicators, tape reading, tea leaves, moon cycles.
Well, two days now unfortunately, but thanks for the kind words.
I mostly just trade off of PA I guess you could say. I am not much of a fan of indicators, tea leaves, or moon cycles. lol
Quote from roreilly:
Thanks for this journal. I also trade crude and it is very helpful to see the performance of other traders to gauge what is possible, likely, doable.
Do you have a scalping system in store in case you need to bump up your winning % at the end? One thought is after a big day up, try scalping 4 ticks during the lunch hour (target 4 ticks, stop 11 ticks) to boost the winning percentage. Just a thought for whatever it is worth.
Best of luck, and thanks again.
Thank you for the encouragement, I need it. I do not have a scalping system like you mentioned because I don't feel I need to do that to pass the combine.
The rules I signed up for stated:
Each product traded must have a Trading Average greater than $0 and meet at least TWO of the performance rules listed below:
Overall Average Win greater than Overall Average Loss
Overall Average Win Duration greater than Overall Average Loss Duration
Total Win percentage of 45 or greater
I am meeting the first two performance rules with ease so far. So I should not be required to have a 45% win rate. I would really like to better than 45%, but I am not going to change the way I do business to try and manipulate the numbers. I figure, if it happens, that's great, otherwise no big deal. Thanks again for the kind words.
TraderToad
- Status
- Not open for further replies.