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My Journey towards becoming a funded trader


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My Journey towards becoming a funded trader

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  #11 (permalink)
Boulder CO USA
 
 
Posts: 4 since Sep 2019
Thanks: 2 given, 5 received

Seems like all is going well. I have to wonder though - if you put all of your focus on just one account wouldn’t you be better off? From what I can tell your trading style is dictated by the OneUp trailing rules. Your scalping when you could be capturing bigger moves.

I’ve never dealt with multiple accounts but it seems to be a field of landmines based on your problem with too many micros.

Regardless I look forward to seeing your progress.

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  #12 (permalink)
Dallas tx
 
 
Posts: 18 since Oct 2014
Thanks: 7 given, 29 received


OpenSpaceCap View Post
Seems like all is going well. I have to wonder though - if you put all of your focus on just one account wouldn’t you be better off? From what I can tell your trading style is dictated by the OneUp trailing rules. Your scalping when you could be capturing bigger moves.

I’ve never dealt with multiple accounts but it seems to be a field of landmines based on your problem with too many micros.

Regardless I look forward to seeing your progress.


My current strategy is largely affected by the trial, and trading around business calls. If I miss the entry due to being distracted with my day J.O.B. I choose to stay out and wait, normally.

That said, now that the trail has stopped trailing, I could let it run more.

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  #13 (permalink)
Dallas tx
 
 
Posts: 18 since Oct 2014
Thanks: 7 given, 29 received


Well, today is a sad day in Whoville.

Last night, I thought I'd try my hand at trading the late evening session. Costly lesson learned... Don't go from day volume and behavior to night volume & behavior without spending some time getting used to the flow of that time period.

Tired and making bad decisions. Blew daily loss limits. Reset x2, went to sleep at around 3a, and hopped back in at 9 am for a fresh-ish start.

So....

Today's summary
  • TST D1: 3 lots / 10.25 pt net / $1,470.90
  • OUT D1: 5-10 lots / 10.25 pt net / $4,475 (entry w/5, scaled in another 5 on 2 trades)

Trades
  • Trade 1: Hopped on the break out of that channel with momentum and volume. Entered with a target of 10pt, scaled in at the 1st pullback. This trade went well beyond where I had planned and stopped between 1.27 & 1.61 fig. I had expected to re-enter on a pullback to 1.27 fib, but it didn't happen. // 10pt
  • Trade 2: Scalped towards 1.27 fib with momentum & volume. Target hit // 1pt
  • Trade 3: Shorted pullback towards .78 fib, hit trailing stop // .25pt
  • Trade 4: Shorted pullback towards .78 fib, hit target // 2.5 pt
  • Trade 5: Shorted into the .78 fib with bad Stoch divergence, and moved my stop. Poor entry. Poor trade management. // -9pt
  • Trade 6: Went long on the reversal back into higher TF trend. Had a target of 10. Scaled in @ 3.5pt profit. Exited @ market due to a requirement to be out by 3:10. Rode the trade to 3:09:49 for // 5.5pt


I am reminded of wisdom... If you have an edge, why rush it? If you don't, why rush it?

Also, I'm thinking I may just keep my lots size small-ish and not fall into the higher leverage trap. My leverage was too big, trade volume was not what I was accustomed to, stops had to be too tight... hit stop after stop after stop.

So, that was today... now on to tomorrow. Day 1 of 15 of the trial = Done.

//Doyal Alexander

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  #14 (permalink)
Dallas tx
 
 
Posts: 18 since Oct 2014
Thanks: 7 given, 29 received

Today was in the bag before noon... traded the sim the rest of the day.

Today's Summary
  • Cumulative: $7,220.50
  • TopStep: $2,592
  • OneUp: $4,637.50

Trade Summary
  • Trade 1: This trade was risky, opened on OBV break with momentum support. Set exit at next fib of 5pt, saw heavy sellers and and iceberg in the L2, exited trade // +3pt
  • Trade 2: Entered in with large lot buyers and exited with Fib. // +5.75pt
  • Trade 3: Entered with large lots, exited with a lot more large sellers than buyers // =1.75
  • Trade 4: Entered on setup, with large volume, there was some sell sided consolidation before moving to the target. // +4pt
  • Trade 5: Reversal trade. Multiple attempt to push higher on lower volume and momentum. Faded for +3.25 pt
  • Trade 6: Traded short continuation trade for +2. // Calling it quits...

Traded my demo account up another $2,535... tis what it tis.

Take Care... Trade Well & Trade for Tomorrow...

//Doyal Alexander

Trade Chart-2020-08-27


Trade Log-2020-08-27

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  #15 (permalink)
Philadelphia, PA
 
 
Posts: 5 since Jun 2020
Thanks: 19 given, 1 received

Thanks for creating this thread. I find your journey very interesting and I really like where your head is at concerning controlling and trading multiple prop accounts.

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  #16 (permalink)
Dallas tx
 
 
Posts: 18 since Oct 2014
Thanks: 7 given, 29 received

Hey Everyone // Happy Tuesday.

So, last week I switched over the NQ and drove my accounts into the ground.... I spent pretty much all of Wed-Fri adapting my strategies to the new pace & volatility, and back testing all weekend.... Yesterday was day 1 for TST and OneUp in each and I forgot to post (tired), so I will be combining the results here today.

Monday Day 1
  • TopStep: 2-3 lots / ~47 pts / $2173 net
  • OneUpTrader: 4-12 lots / ~31 pts / $4860 net
  • Combined: $7.033.40 net

Tuesday Day 2
  • TopStep: 2-4 lots / ~81 pts / $3999 net
  • OneUpTrader: 4-8lots / ~75 pts / $8275 net
  • Combined: $12,274.60 net

Current RR = 1:2.13
Current Win Ratio = 89% (I expect this to find it's way closer to 60%, but I'll take it if I can keep it)

As for the trades, they are all what I would call scalps (5-10pt) with momentum around S/R: mostly trend lines and Fib.

These are remarkable numbers, largely due to the NQ volatility generating more signals... and completely over hauling position sizing, trade management, and target setting. The NQ just makes the ES feel slow by comparison.

That said, I can feel it... I'm exhausted... Between back testing, practicing, and very focused live trading.. I am ready to sleep in Friday and get ready for the long weekend.

If all goes well, I will meet the trial profit targets Thursday and will have to trade daily to meet the duration requirements of the accounts. (need to stay focused)

Enjoy and as always, I welcome questions and feedback.

Trade well & Trade for Tomorrow

//Doyal Alexander


Trade Chart-2020-08-31


Trade Chart-2020-09-01


Trade Log-2020-09-01

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  #17 (permalink)
Boulder CO USA
 
 
Posts: 4 since Sep 2019
Thanks: 2 given, 5 received

nicely done. be careful with NQ - it can clear out accounts faster than most products!

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  #18 (permalink)
omaha ne
 
 
Posts: 4 since Dec 2018
Thanks: 2 given, 4 received

hi doyal hows the journey coming along?

im trying to decide between oneup and tst. im leaning towards oneup because data fees are covered and 1 step only but oneup doesnt have very clear rules for funded traders and ive heard stuff like:

volume requirements
break a rule and u cant withdraw profits
have to maintain positive balance every [timeframe]?

stay flat during economic releases (same for tst)

do u know of any more of these rules ? it will help me decide who to go with

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  #19 (permalink)
Dallas tx
 
 
Posts: 18 since Oct 2014
Thanks: 7 given, 29 received


poptarts View Post
hi doyal hows the journey coming along?

im trying to decide between oneup and tst. im leaning towards oneup because data fees are covered and 1 step only but oneup doesnt have very clear rules for funded traders and ive heard stuff like:

volume requirements
break a rule and u cant withdraw profits
have to maintain positive balance every [timeframe]?

stay flat during economic releases (same for tst)

do u know of any more of these rules ? it will help me decide who to go with


So, for starters, TST is easier to get funded with, and only takes 5 days longer. If you can't beat their end of day trailing stop, you will not beat OUT's intraday... Meaning with TST if you start your day with a $2,000 stop loss... as you profit that line in the sand doesn't move... It does with OneUpTrader...

Example... You start off with a $2,000 stop loss for the day. You profit $2,000 and lose $2000. With TST, you are okay because they do not track your intraday (and intratrade) PnL.

With OUT, You go up 2k, your trail advances 2k. Then you lose 2k... you just hit your stop.

My 2 cents, get funded with TST first, then if you don't like the fees, qualify for OUT... It's just one more click per trade.

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  #20 (permalink)
omaha ne
 
 
Posts: 4 since Dec 2018
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hi doyal
im know about the intraday trailing stops for oneup and evaluation rules
my questions are about rules for funded accts, been hearing rumors about more stringent rules for oneup traders whove passed eval:
like a 90 day probation with more rules not listed on website
if you break a rule while funded in tst u can withdraw whatever profits youve made but i heard u cant with oneup, or u can only withdraw a % of remaining before they close ur account?
tst also has intraday trailing stop once you are funded, so they both have the same rule

im not really concerned about which one is easier to pass, but more concerned about which one is easier to keep a funded account.

thank you for reply

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