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This journal is temporary because it will document my experience in the Top Step Trader 20 Day Combine. I've done the combine before without success, but am feeling confident that I can succeed this time around.
1) Trade only products permitted to trade, during the permitted times Easy
2) Do not hold a position into the electronic close of the product trading (recruits may trade overnight but must be flat when their product's electronic market is closed) Easy
3) Trade all required days of the Combine Easy
4) Always use stops with an open position Easy
5) Overall Winning Day % of 50 or greater Most Likely
7) Additionally, each product traded during the Combine must meet at least TWO of the performance requirements listed below AND have a trading average greater than zero ($0):
•Overall Average Win greater than Overall Average Loss Probable
•Overall Average Win Duration greater than Overall Average Loss Duration Not sure
•Total Win % of 45 or greater Probable
8) Achieving the Combine profit target (Net P&L)That part remains to be seen
I wanted to be able to see if my trading met the TopStep criteria to get fully funded. So I created a spreadsheet to tracking my trading based on the criteria. If I missed something or have questions please let me know.
BTW, I think they offer 50% discount to Big Mike members, I believe the code was listed in the last webinar thread. Don't quote me please in case I am wrong with that figure.
I think that is to be an annual member. Right now I am just looking at the $350.00 combine, but I'll enter that code and see what happens. Thanks Mike.
The more I think about the Topstep Trader program, the more interested I get. I like their risk parameter enforcement and their structured environment. I like the fact that trading would not be such a solitary experience.
I have a good understanding of market structure, I have hit their performance criteria, but as this journal witnesses, I have some deep psychological scars regarding past financial losses, and that has become a major barrier to me. Of course, they may read this journal someday and decide to pass...
But if I can do what I think I can in the combine, and if this one mental shift does what I expect it to do, it would be one serious win/win. This may be the key that frees the mind to just trade. No green dragon required.
May be TopStep trader will offer you something to break you free of the routine you have created, even though it seems to be a good routine regards you have a profitable account.......but might give you something to allow you to start to outperform your current trend
all the best
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Something I've been meaning to ask you.
(Apologies if you've mentioned it before.)
Aside from all the "stuff in the head" reasons for exiting a trade, do you have any other criteria ?
A yes or no will do so as not to intrude on your methodology too much.
I have a "reason" for asking.
It ocurred to me that, aside from being able to trade at a contract size below your threshold without any issues,
the "fear" (when it happens) might get triggered from a sense of the unknown, rather than any dollar amount.
That need to take the profit that's there is not really a need but rather a reaction to an unknown situation (which in of itself triggers the fear).
This unknown might be re-invoking that past experience that (from what you've described) came out of nowhere, or at least to say that it wasn't something that you forsaw or had factored into your equations.
(which we know you like to have )
It was an unknown entity.
So, for as well as your entries are defined and "known", does this hold true of your exits ?
Your seem to be a remarkably structured person (said with respect).
That structure has, imo, got you to where you are now.
So again I ask, do you have a defined structured approach for exits ?
And btw I think it's a about time we, or at least I, extend a hello to your wife.
If she had any idea what you put us through here on futures.io (formerly BMT) then she has my utmost respect....and sympathy
I have had more structured targets in the past, many times refused to get out until one of them hit. I feel more proud of my mindset when I can allow that to occur. But that approach requires a great comfort with the unknown, and I am finding less and less comfort with it. I really have not determined why. It is something rooted deep inside me though.
I am going to see my doctor on Tuesday and going to talk with him about some of the issues I have been having lately. A friend mentioned andropause, or low testostorone, or low seritonin.