Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I have had a nice break and am returning to start a new $100,000 Continuous Combine tomorrow. This journal is to track my trades, progress and provide accountability. Why the name "New Beginnings" because it is a fresh start to my journey in seeking to obtain a funded account with TopStep Trader and I have a renewed mindset. My problem was not my trade plan but my pride, lack of discipline and overall mindset.
During this Combine I will be trading the following setups:
I passed earlier this morning on what turned out to be the best signal so far. Here I took a 2LF for only 1 target of +11 because of congestion and anticipation of one more push up before failing (if the sellers are going to regain control). Unfortunately, price did exactly what I was thinking but I missed the next trade because of typing this journal entry. I may think about showing my trades at the end of day only. However, for now here is my picture of my first trade:
I have decided to move T2 to +20 ticks instead of +22 on trades where I will be using a second target. In addition, I have slightly modified my stop strategy to the following:
17 Tick Stop Strategy
If T2 is filled I will net over $400 per trade with 3 contracts. Whereas, if price hits +20, doesn't fill, and stops me out I will net over $350 either way will work towards achieving my Combine goal and I am content with both.
I missed the first setup and got in late on my trade because I was away from the computer. The end result is that the trade worked out and would have been a success at +11 ticks with 3 contracts but because the open was in 1 minute and CL hadn't reached the target yet I moved the stop to +1 where I was stopped out at on all 3 contracts.
After doing so well this morning on NOT trading foolishly with all the markets I watch being so dead I got aggressive on the 6E with 2 contracts. I tried for a 2LF a few ticks early to get an edge on the stop run and basically got caught at the bottom of the range. Thankfully, I moved my stop to -12 vs. -17 when I realized that my gamble didn't pay off and semi-limited my losses. Trying to force a trade never pays off!