TopStep combine day 11 stage 1


day 11 stats:
I am making on average $67.6 per day.
current week 3:
balance : $100,743 ; average win day 126.0 , loser -34.0
best day : 254 , worst -65.9
days 11 ; winning days 64 %
av. win 42 loss-37
win % 60 max conseq w/L =2:2
av w/L duration 11/ 17 minutes
total trades on average per day : 6 brokerage : $23.80
account bal draw-down limit 97744 to fail combine target $6000 to pass
draw-down so far : 0
Making steady progress and fairly consistent. Still afraid of really increasing my size though. My plan was to increase to 2 contracts per trade over $600 profit, but I am reluctant. I find that it is better for my psychological stress control to aim for more small wins of 4-8 ticks per trade. I'll have to work on this fear. I 'scaled' into some trades the last 3 days with 2 contracts and that is a better approach from the money management style I use. My tactic is this given I can ordinarily make 4-8 ticks per trade 2 out of every 3 trades, the other 1/3rd are losers and I try to get out for break-even or a small loss.
  • my hard stop loss is normally -20 to 25 ticks away. I place it well under a volume profile node of possible support.
  • I generally buy pull-backs at the bottom of ranges.
  • I avoid trending markets at this stage. I am a scalper.
  • If it runs against me I use these rules to get out
    a. I place another limit buy order about 8-12 ticks lower. I then adjust my stop-losses on both positions so that I am risking no more than -0.50% of my account. This is equal to half the allowed loss limit of -$1000 generally. If I lose I will cease trading that day.
  • then I wait for a pull back half way between both orders - and get out for as close to break-even as possible. I find it works 50% of time. The other 50% I make some amount of loss. But I don't lose more than about 5-10 ticks. I can then go back to scalping 1 contract.
  • once I scalp back half my loss on that bigger loss I finish trading for that day. That's how I control loss days and keep then smaller than winning days.
Back to work.....

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