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Ryan's Funded TopStep & Beyond Trading Journal


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Ryan's Funded TopStep & Beyond Trading Journal

  #21 (permalink)
 
SoftSoap's Avatar
 SoftSoap 
Canada
 
Experience: Beginner
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Broker: InteractiveBrokers
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ryanzw View Post
Thanks, you're absolutely right about not trading until I was all set up. I found my self so anxious this morning to get started and mad that I missed some trading opportunities due to account not being setup that I was in such a bad frame of mind when I finally started.

Not going to let a small losing day set me back. I will continue to trade my process and plan and build this account up.

The market will give you a ton of opportunities every day, it's okay to miss some of them.
Getting angry about missed opportunities does nothing to improve your past performance, and it will only hinder your futures trades.

Good luck!

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  #22 (permalink)
ryanzw
scottsdale, az
 
Posts: 17 since Nov 2015
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No excuses for the way I traded today. Way over traded, didn't keep it simple and trade my strategy.

-500ish on the day. Mick over at Top Step gave me a call and told me to stop for the day and without him I was likely to run it down even more.

Account currently -850 so I'm in a pretty bad spot. Weekly loss limit is -1000 so basically if I lose my first trade tomorrow I cant really trade for the rest of the week or risk hitting the -1000 and losing the account.

I don't know what's wrong with me that I cant seem to trade my own method.

My strategy has me trading from the -100%, -200% ect levels. As you can see they worked quite well today but I did not trade them and instead just went off the rails ignoring them and over trading.




I guess my plan is to try and see if I can do better tomorrow but if i am down to -950 I will stop trading and take advantage of their "redevelopment" offer which means I can go back to the combine for free and if I beat the objective I can start over in funded account, bypassing the funded prep step.

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  #23 (permalink)
 IzhakHaim 
white plains new york
 
Posts: 66 since Apr 2016


Ryan,

Do you have a CLEAR setup for when you should get ready for a trade?
Do you have a CLEAR trigger when to fire the trade? (after the setup is complete)
Do you have a CLEAR method of exit for TP and SL?
Are you able to follow your trading plans as a good soldier following the Captain orders when caught under fire?

If you answer no to one of the Q. above, you may want to go back to the drawing board and develop those steps before spending a $. and if not finds all the above, maybe it is not for you.

As not everyone can be an astronaut or a brain surgeon, not everyone can be a trader.

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  #24 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
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ryanzw View Post
No excuses for the way I traded today. Way over traded, didn't keep it simple and trade my strategy.

...

I guess my plan is to try and see if I can do better tomorrow but if i am down to -950 I will stop trading and take advantage of their "redevelopment" offer which means I can go back to the combine for free and if I beat the objective I can start over in funded account, bypassing the funded prep step.

This may not seem like useful advice, but here it is anyway: wanting something so much that you lose control is sometimes the very thing that prevents your getting it.

Or, to put it closer to plain English (), stop rushing ahead to succeed as a trader. Now that you have the restraints of the Combine taken off, you seem to be just throwing everything overboard so you can get rich.

Or, to put it better: stop that.

I am not breaking your chops. You may get some negative feedback, but that's not my intention at all. Just relax. Don't worry about winning. Stay with the discipline that worked for you in the past, with the Combine and the FTP. You do have the ability to do it.

I remember someone from TST saying once, in an online chat or something, that some traders come off the Combine and go into the funded account swinging with both fists, now thinking they're ready to finally make some real money. They typically have trouble.

There's no big need to ask "why" you did this or that. What happened is that you put your hand on the mouse and clicked it when you shouldn't have. (As everyone does, sometimes a lot, sometimes less.) So, you can control your decisions, and actions, and trade only when your method says to.

I know this is much easier to say than to do. But it is what you do need to do.

And, put yourself back in the mindset of the Combine-type rules: stop trading when it's not going well. I'm glad the guy from TST called you. Now, see if you can give yourself that kind of warning, without needing the call.

I do not think that you are fated to blow this account up. You clearly can trade it well, if you operate as you know you need to. If things do go bad, which they might, take the redevelopment Combine as the gift of an opportunity, and put it to good use. If things go well, which they also might, take that as the gift of an opportunity also, and put it to good use, too.

And by the way, just about everyone has been in a situation similar to where you are now. You can get through it, and you have a path to succeeding at it, one way or another.

Good luck, and keep your chin up. I really mean this.

Bob.

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  #25 (permalink)
 
KahunaDog's Avatar
 KahunaDog 
Hawaii at the beach
 
Experience: Beginner
Platform: Nt8, MotiveWave, TOS
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Trading: ES, ZB fine alcohol and muscle cars
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Bro go back to your business plan.
If it's not written down, printed where you can read it you may need to do that. Study and stick to it. No one is perfect. But stick to your own guidelines.

Being solo, you are a click away from fortune or dismay. Try to find someone or something to increase your discipline. Live a disciplined life as much as possible.

I highly suggest you take the week off from Topstep. Go back to your business plan and put it into practice. Gain your confidence and feel back.

You need to have a trade limit and loss limit way ahead of your professional requirements.
I also seriously suggest you log and justify every trade, entry, management and exit. I myself need work here.

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  #26 (permalink)
ryanzw
scottsdale, az
 
Posts: 17 since Nov 2015
Thanks Given: 27
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bobwest View Post
This may not seem like useful advice, but here it is anyway: wanting something so much that you lose control is sometimes the very thing that prevents your getting it.

Or, to put it closer to plain English (), stop rushing ahead to succeed as a trader. Now that you have the restraints of the Combine taken off, you seem to be just throwing everything overboard so you can get rich.

Or, to put it better: stop that.

I am not breaking your chops. You may get some negative feedback, but that's not my intention at all. Just relax. Don't worry about winning. Stay with the discipline that worked for you in the past, with the Combine and the FTP. You do have the ability to do it.

I remember someone from TST saying once, in an online chat or something, that some traders come off the Combine and go into the funded account swinging with both fists, now thinking they're ready to finally make some real money. They typically have trouble.

There's no big need to ask "why" you did this or that. What happened is that you put your hand on the mouse and clicked it when you shouldn't have. (As everyone does, sometimes a lot, sometimes less.) So, you can control your decisions, and actions, and trade only when your method says to.

I know this is much easier to say than to do. But it is what you do need to do.

And, put yourself back in the mindset of the Combine-type rules: stop trading when it's not going well. I'm glad the guy from TST called you. Now, see if you can give yourself that kind of warning, without needing the call.

I do not think that you are fated to blow this account up. You clearly can trade it well, if you operate as you know you need to. If things do go bad, which they might, take the redevelopment Combine as the gift of an opportunity, and put it to good use. If things go well, which they also might, take that as the gift of an opportunity also, and put it to good use, too.

And by the way, just about everyone has been in a situation similar to where you are now. You can get through it, and you have a path to succeeding at it, one way or another.

Good luck, and keep your chin up. I really mean this.

Bob.


Greatly appreciate this post, thanks.

Probably will end up doing the redevelopment, I will decide tomorrow. Either way no matter what I will not hit my weekly max loss which will kill the account for good.

So either I will bounce back from here or take a few weeks and do the redevelopment and start funded fresh again.

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  #27 (permalink)
ryanzw
scottsdale, az
 
Posts: 17 since Nov 2015
Thanks Given: 27
Thanks Received: 67


KahunaDog View Post
Bro go back to your business plan.
If it's not written down, printed where you can read it you may need to do that. Study and stick to it. No one is perfect. But stick to your own guidelines.

Being solo, you are a click away from fortune or dismay. Try to find someone or something to increase your discipline. Live a disciplined life as much as possible.

I highly suggest you take the week off from Topstep. Go back to your business plan and put it into practice. Gain your confidence and feel back.

You need to have a trade limit and loss limit way ahead of your professional requirements.
I also seriously suggest you log and justify every trade, entry, management and exit. I myself need work here.

From now on I will start logging and studying every trade. I took so many bad random trades outside of my plan and I need to be accountable for that.

Also need to stick to my profit protection rules, I was +275 at the peak. I never should have risked more than 1/2-1/2 of those profits.

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  #28 (permalink)
ryanzw
scottsdale, az
 
Posts: 17 since Nov 2015
Thanks Given: 27
Thanks Received: 67

After Yesterday I am nearly at weekly max loss so unable to trade rest of week so today and tomorrow I am spending sim trading.

Here are my results from the morning trading NQ and following my strategy as perfectly as I could.



When I sim trade/combine trade I can do really well, as soon as I trade live I seem to do horrible. The simple answer is when sim trading I am following my exact strategy and when live trading this week I was not at all. I can't explain this. It's like I had a fog around my head and was not seeing clearly at all. It's scary to me because even though I know how I should be trading, my mind continues to fool me and drag me down the rabbit hole.

Anyways, Monday I will start live again and If things go well then I have a good shot at rebuilding the account. I know what I have to do, now I just need to do it.

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  #29 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
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Trading: ES, YM
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ryanzw View Post
When I sim trade/combine trade I can do really well, as soon as I trade live I seem to do horrible. The simple answer is when sim trading I am following my exact strategy and when live trading this week I was not at all. I can't explain this. It's like I had a fog around my head and was not seeing clearly at all. It's scary to me because even though I know how I should be trading, my mind continues to fool me and drag me down the rabbit hole.

Everyone who has traded live has experienced exactly this. It's why sim is not anything like live trading, and why even the Combine, where you do have something at stake, can still fail to prepare you fully.

When there is money on the line, your entire psychology can change. Hopefully, the Combine trading can help you deal with the reality of risk, but if not, then you will need to master it somehow or another.

Being aware of it is a start. Your ability to be objective, or even rational, or even not-freaking-crazy, is seriously at risk when there is any kind of real money involved.

This would be an interesting thread for you to look at, and ponder what it tells you about trading live:

Just another hurdle to go over.

Again, good luck.

Bob.

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  #30 (permalink)
 HoopyTrading 
Boston, MA
 
Posts: 264 since Apr 2014


Pardon me for being ignorant, but your gross profit is over 600 bux, and your drawdown looks like -37 bux? Why are they making you sweat?

You're doing super! 600 bux in four hours?!? That $150 per hour working in your cozies with some coffee at hand and sitting in a comfy chair.

TST says this is bad?

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