NexusFi: Find Your Edge


Home Menu

 





Trades for Free


Discussion in Trading Journals

Updated
    1. trending_up 4,207 views
    2. thumb_up 13 thanks given
    3. group 2 followers
    1. forum 26 posts
    2. attach_file 24 attachments




 
Search this Thread

Trades for Free

  #1 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

Seventh Try's a Charm: iqgod's Seventh TopStepTrader Combine

People who follow these forums knew iqgod was due. For six consecutive combines, he had ridden in the markets, but the best he had done was a third-place finish every time. And iqgod was zero for six in the combines. He hadn't even been placed in the Hall of Rollover Traders.

"If you keep working real hard and don't give up, your dreams come true," iqgod said after his sixth unsuccessful attempt this year. "I am deserving of this accomplishment, no?"

Though he didn't win yet, take heart, It is iqgod's seventh try. Now that's one earnest effort.

Read all about it here.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
ZombieSqueeze
Platforms and Indicators
Exit Strategy
NinjaTrader
Are there any eval firms that allow you to sink to your …
Traders Hideout
Better Renko Gaps
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
22 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
20 thanks
  #3 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097




Today iqgod was relaxed, confident, and knew himself and knew his markets.

Started the combine with a 6E long trade with a 10-tick target and a 4-tick stop.

The trade qualified because it was in the EMA, with trend, and was an H2 in Al Brooks parlance or a "Second Break" in Bob Volman parlance.

The trade was exited prematurely because two double tops had formed in 13521 area on the chart due to which the "tipping point" was moved to that place, because once the market broke those then it should continue upwards and not come down like this.

Positives were good entry, good trade management.

No negatives today.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #4 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097



A parallel long trade was taken in the 6J, as a Double Doji break and a First Break (Bob Volman parlance) in the 20 EMA.

Two lots were taken off at the possible double bottom level which was 10-ticks and the third contract was allowed to continue further till another double top.

This was a nice confident trade with trend.

It would have been possible to scale in after the range break (box) but I did not do so to avoid confidence issues.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #5 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097




Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #6 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097



iqgod was confident in his abilities.

iqgod was relaxed, but slightly impatient - not enough to disrupt him but enough to cause some little damage.

He entered two trades long at 13516 and 13517 at the bottom of the range with a three tick stop.

Though he should have held for ten ticks he exited the first of the two trades at the first signs at 13520.

He however held the second position and weathered the rough ticks till 13523 which was half of his target but still commendable.

He entered quickly at the EMA.

He also accumulated two long positions at 1324 and 13526, but panicked and sold one and then the other at 13527.

Then he repeated himself by buying at 13529 and exited at 13530.

The best part is that he only took long trades as per his plan and executed the teeny scalps well.

The big negative is that he missed his anticipated ARB long trade of the day by not going long at 13530 (instead he exited his long out of torment!)

Thus the big-picture negative is he tried to capture every teeny move and could have held two perfectly good positions from bottom to the top for 10 ticks and 20 ticks respectively which would have been the wisest option. He hopes wisdom will prevail in future trades of a similar nature.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #7 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097


Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #8 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097

Day 3 was a loser.

I've marked the chart with my commentary:



The main takeaway was that though TST has removed the requirement that two out of three metrics should hold, they still linger in my subconscious thought and I hold on to the lesser trades instead of cutting them at 2 or 3 ticks win (Two lessons actually: 1. I shouldn't have taken the lesser trades; 2. If I have then I need to exit them and not wait for a miracle to take them to a ten tick target).

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #9 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097


Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #10 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097


Day 3 reinforces the learning that iqgod needs to wait wait wait for the entry.

The chop, while it does not overtly scare iqgod out of position, it makes him take teeny profits because the market has not yet tipped its hand.

In this case the range break was a crystal clear long at 13560 at 12:08 and all earlier trades were trades in chop.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:




Last Updated on December 12, 2013


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts