dreezyreeve's /MNQ Trade 62.66

Trade Detail

dreezyreeve's /MNQ Trade 62.66

Trade Details

Published

Sept. 4, 2024, 5:01 p.m.


Status
CLOSED

Portfolio(s)

TopStep 50K Evaluation,


Broker

Tradovate

Asset

Future

Future Date

Sept. 4, 2024

Future name

/MNQU24

Symbol

/MNQ - View rating


Type

Long

Pattern(s)

1st Higher Low off 1M Demand, 20D 1H 50% FIB Low To High, 2D Bearish Orderblock Target, Cut Trade Early, Higher DOL Moving Average,

Featured Image / Proof

Stats

Entry CPU Exit CPU Fees Max Amount Max Cost P&L % P&L $ P&L With Fees
18,857.0 18,889.0 1.34 1.0 18,857.0 0.17% 64.00 62.66

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Notes

Here are the key takeaways from your trading notes:

  1. Trade Setup & Execution:

    • You entered your first Topstep combine trade during the overnight session, based on an M1 demand area that aligned with M1 and M5 bullish confluence.
    • Your main level of interest was the 20-day, 1-hour low to high 50% Fibonacci retracement, which you used to identify a potential bottom.
  2. Trade Management:

    • You experienced uncertainty about the demand level holding, so you waited for a second reaction before entering.
    • Despite anticipating the trade working out before you slept, the market chopped, and you eventually cut the trade early after waking up 1R positive.
    • Cutting the trade early locked in a win but missed a potential $260 profit that would have been achieved by sticking to your initial profit target.
  3. Hindsight Reflection:

    • In hindsight, you recognize that had you followed your original plan and left the trade to work, it would have hit your profit target by 9:49 AM.
    • You acknowledged that although the action was sloppy and involved a fight for price, your analysis was correct, and the trade eventually reached the desired outcome.
  4. Lessons Learned:

    • You expressed that while it's fine to have locked in a win, you probably should stick to your trade plan in the future and allow the trade to reach its full potential.
    • You also noted the importance of finding cleaner setups to avoid getting stuck in choppy, accumulative price action.

Summary: Your notes reflect a solid trade setup and execution, but a conservative decision to cut the trade early led to a smaller profit than anticipated. Moving forward, sticking to your trade plan and allowing trades to reach their full potential, as well as focusing on cleaner setups, are key areas for improvement.

 

 

 

 

 

 

 

 

I took my first Topstep combine trade here in the overnight session on a long entry from an M1 demand area created. I was unsure if the demand level would immediately drop, so I waited for a second reaction off of the m1 demand area, and had an M1 and M5 bullish confluence upon entry.

I was anticipating that the trade would work before I fell asleep, but it didnt, and I was watching it chop from the moment I entered, so when I woke up I was roughly 1R positive on the trade, so I decided to just cut it and lock in my first win to start the account off in a positive direction.

In hindsight, had I just left the trade, I wouldve reached my profit target, which at that time was just the premarket open print, and I would have made around $260. Its fine. Im okay that I cut the trade early, althought I probably should just stick to the plan in the future.

It was sloppy action on the 20D 1 Hour low to high 50% fib, which was the main level I was trading off of to find a potential bottom. There was multiple M1 demand areas created from the PML created on this trading session, and an overall fight for price. So I was stuck in an overall accumulation that didnt want to pop at the time. But I would have hit my profit target at 9:49AM. Next side I guess I should obsviously just let the trade work. But I think we can find a cleaner setup. 

Transactions

Date Side Amount Price Commission Reg Fee
Sept. 04, 2024 01:17:00 Entry 1.0 18,857.0 1.34 None
Sept. 04, 2024 06:35:00 Exit 1.0 18,889.0 None None

SMMT 16.31

Portfolio(s): Toby,
Last entry Dec. 6, 2022, 10:46 a.m.

POL -16.27

Portfolio(s): Toby,
Last entry Dec. 20, 2023, 1:21 p.m.

OCEA 167.35

Portfolio(s): Toby,
Last entry March 9, 2023, 8:04 a.m.



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