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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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  #1 (permalink)
Dallas tx
 
 
Posts: 20 since Oct 2014
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Greetings Everyone,

As a bit of an introduction, if trading is akin to high school, I am on summer break between sophomore and junior year (oh those were the days).

My freshman year was made up of busting accounts, chasing adrenaline, and dealing with a frustrated wife when she read the tax return notes for year. Needless to say the money didn't stay around long.

My sophomore year started off chasing indicators, largely with the same result. This indicator, that indicator... looking for that silver bullet that would slay the emini beast.

Towards the end of that season, I made several changes...
  • Decided to not get rich overnight, and decreased my lot size. It certainly helps survive volatility, but it also leaves room to add to runners.
  • Stopped focusing exclusively on what was happening now (this tick/this min), and looked back towards larger time frames.
  • Knowing my tunnel vision weakness, I set up alerts on different time frames to catch my attention, and modified my indicators to look at now, and longer time frames... This took a few days of sim account trading to get used to, but it works for me now.
  • Began to treat trading like a business... What is my plan? What will I trade? How will I trade it?
  • Trade with bigger trader.s.. is big money bullish or bearish around this entry I am considering.
  • Keep a trade journal and study what went well and what didn't. Why did that trade win/lose? What can I pay attention to.
  • Begin the hunt for startup capital

Now that I am able to keep a small account stable and in the black, I am addressing my next issue: capital.

Primary Goal: Qualify for and actively 2-3 funded accounts and eventually replace my day J.O.B.

Requirement 1: Find reputable 'prop shops' (?) that will let rookies come in along side their day job to prove their chops. I have identified a handful, and have started with 2. (done)

Requirement 2: Develop method to trade multiple accounts with a single click or chart. I have found people using add-ons with MT4/5 to trade multiple accounts in the forex market... but it's not futures, and I am developing a feel for the heartbeat of the /es.

So I have settled on Multicharts.net and am in the process of developing the capability of trading multiple accounts @ multiple brokers concurrently. And... for to be a supposed supported capability, there is no feature developed... and me developing this is proving harder than expected. So, for now, I am click, clicking my entries with bracket orders for P/L targets.

I know... I know... really? ... But 1-2 seconds ALT Tabbing and clicking an entry doesn't make or break how I trade. I just have to stay away from a 'fast' market.

Requirement 3: Get funded. // In progress.

----------------------------------------------------------------

As of today, I have completed Day 3 with TopStep ($150k) and OneUp ($250k).
  • TopStep: I personally prefer how TST handles their trailing stop via end of day, but qualification is a 2 step process. I am in step 2.
  • OneUp: This intraday trailing stop has me cautious. I like to see a potential runner set up, lock in an little profit, and trail the dips. However, this intraday trailing stop is based off your highest profit potential. This means that a trade that was up $1500 and stopped out at $1250 profit, brings your trailing max loss $1500 closer, not based on profit... based on potential profit. // My remedy... aim for predefined profit target, hit it and exit at that trade's high, or add to a pull back re-entry signal which increases profit and get out early at or near P/L high. Also, cut a loser fast! (opinions welcome)

That said.... As of EOD Day 3.....
  • TopStep: $6,000 remaining / ~8-9 days to target
  • OneUp: $8,643 remaining / ~5-7 days to target. So I will surpass the target if all goes well.
  • Note... My OneUp account shows my auto liquidation to be @ $250,000. So I am assuming the trailing draw down in the trial stops once it reaches the starting account balance.

I am new to this degree of 'sharing', and am doing this to not only bump up my personal accountability, but I'd like to use this as to tool to learn and share with others from this group of traders.

I will include a pic of my trade journal and chart for the day.

Comments and questions are welcome.

Trade well and Trade for Tomorrow....

//Doyal Alexander



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  #2 (permalink)
Dallas tx
 
 
Posts: 20 since Oct 2014
Thanks: 7 given, 37 received

** This was not my best day, but I committed to share **


Well, today was interesting.

First trade out of the gate... 6+ points and met my profit target for the day. I actually contemplated calling it a day, but decided I'd work on my multibroker trade script... and forgot to switch to a demo account... and busted my TopStepTrader account by trading 6 micros... with a 5 contract limit.

After a few choice words with myself I decided to revenge trade my OneUp account...

Like I said... Not my best day.

Script Status
  • I have a few different scripts collected that separately contain what I am trying to do.
  • Now I have to conduct the equivalent of an archaeological dig and research project against undocumented code
  • Then reassemble the bones into the right creature

Funding Update
TopStepTrader // Day 4
  • Busted the account today. I was within financial constraints, and technically well below risk. So what happened?
  • Rule Broken = Scaling Contract Limit of 5... But how?
  • So, I did switch my instrument to micro's to test my script, but failed to switch the account to my demo account... When the script ran on my TST combine account it traded 3 consecutive 3 contract entries. This proved educational in that the TST contract limit apparently applies equally to micro and mini...
  • For example, even though a micro is 1:10 of a mini, if you are limited to 5 contracts you can only trade and total of 5 anything... Despite 6 micro being ~12% of the financial risk of 5 permitted mini contracts.
  • Live. Learn. Fork out $99 to start over.

OneUpTrader // Day 4
  • OneUpTrader Day 4: As you will see in the Journal, my first trade was solid.. The price there is averaged in, but the chart shows the trade.
  • Now, despite the seemingly random trades, today's issue was not execution. Today's issue was psychology.
  • Busting my TST account shook me psychologically, and I should have just stopped trading. However, for some reason that my subconscious may or may not ever reveal to me, I decided to revenge trade my OneUp account. This is evident in the next few trades.

Then I stepped back, saw good setups across multiple time frames, and added in some size. Despite it being a success, it was reckless and shouldn't have been done.

End of Day Results....
  • TopStepTrader: $9,000 Remaining / Days Remaining 10 (Rule Broken. Starting Over)
  • OneUpTrader: $7,302 Remaining / Days Remaining 11

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  #3 (permalink)
Legendary Market Wizard
Cancun, Mexico
 
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Welcome!

Here is something to chew on: "If I have an edge, why hurry? If I don't have an edge, why hurry?"

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
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  #4 (permalink)
Legendary Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Platform: Jigsaw daytradr
Trading: US Equity Index Futures
 
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doyalalexander View Post
[*]TopStepTrader: $9,000 Remaining / Days Remaining 10 (Rule Broken. Starting Over)[*]OneUpTrader: $7,302 Remaining / Days Remaining 11

There isn't a maximum number of days, only a minimum, that's true for TST at least.
(Unless you have decided that you only intend to pay for one month and expect to pass first time).



Quoting 
[*]Rule Broken = Scaling Contract Limit of 5... But how?[*]So, I did switch my instrument to micro's to test my script, but failed to switch the account to my demo account... When the script ran on my TST combine account it traded 3 consecutive 3 contract entries. This proved educational in that the TST contract limit apparently applies equally to micro and mini...

Yes. It's in the rules:
https://help.futures.topstep.com/hc/en-us/articles/235453748-What-does-Maximum-Position-Size-mean-

The ability to trade micros in the Standard Combine was only added recently as an option for people not in the micro/swing trading Combine to be able to reduce risk after the recent increase in the markets' daily range and volatility.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
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  #5 (permalink)
Dallas tx
 
 
Posts: 20 since Oct 2014
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Hey Matthew28... thanks for reaching out.


matthew28 View Post
There isn't a maximum number of days, only a minimum, that's true for TST at least.
(Unless you have decided that you only intend to pay for one month and expect to pass first time).

I have been in the Combine for a couple of months now, largely trying to reduce frequency of trades.. basically working to sit on my hands more. The forced discipline there has been good for me, in that helps me overcome some really bad habits I had developed in my personal account. My demons there are revenge trading, and trading too frequently. Like Hoag @ TST says... 'If you go looking for a trade, you'll find one... just may not be the one you want.'

I am just trying to finish TST Step 2 in something close to 15 days. If it takes longer, I am okay with that... to clarify, intellectually I am okay. I let my emotions get the better of me Friday.



matthew28 View Post
Yes. It's in the rules:

The ability to trade micros in the Standard Combine was only added recently as an option for people not in the micro/swing trading Combine to be able to reduce risk after the recent increase in the markets' daily range and volatility.

As soon as I saw that I had opened to many trades with my script (against the wrong account), I revisited the rules and saw that I had broken that rule. Got frustrated with myself, and started misbehaving in my other account... poor decision for sure.


Thanks again for reaching out...

Take care.... //Doyal

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  #6 (permalink)
Montreal, QC, Canada
 
Experience: Beginner
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I'll be following along. Also busted my TST $150K Step 2 just this Thursday for the same reason, too many contracts. Fully aware of the rules, but a misclick in Jigsaw I bought more and didn't realize until it was past their 10 second buffer. That really hurt since things were until then going along pretty nicely. I know a lot of people bitch about the rule, if it was a real account you could easily have your # of contracts limit set and it's kind of one way they can make you do a reset. At the same time, the rules are pretty clear, and the whole point is to demonstrate you can color within the lines. Still, 100% sucks to bust not for bad trading decisions... just a click.

Good luck, I'll be restarting Step 2 $150K also Monday.

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  #7 (permalink)
Dallas tx
 
 
Posts: 20 since Oct 2014
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Today... today is take my money and run day.

Today, I placed 6 total trades
  1. My first trade was a simple accident... I was testing my signal and had it set to my demo account, and had my chart on that demo account... but the strategy properties of this chart executed it it's default account (corrected)
  2. Next, I entered a trade after hours Sunday evening with 'large' lot traders and rode the slow but steady momentum up to the 127fib. I had an early morning, so I waited until profitable and next move appeared to be setting up, and moved my stop to +1tick, with a target at the next Fib (1.27). Target was hit in the wee hours.
  3. Next, I scalped a pullback on leg 1 during the open. Hit my trail for 1 tick.
  4. The third trade was a scalp on leg 3 pull back.
  5. Followed up by a trade on a continuation entry confirmed by a higher TF
  6. My last trade of the day was trading towards a volume point of control for the morning. My stop was set set with the icebergs (300&500 @ the ask) and monitored pull backs closely. Volume on the tape indicated large buyers (100+ lots) at and near my entry.

All in all...
  • TopStep Day 1: 3 lots / 11.25 pt net / $1594.50 net
  • OneUp Day 5: 6 lots / 12.46 pt net / $3587.50 net
  • Cumulative profit for the day.... $5,182.00

A lot of people talk about trading your own money vs going with a prop firm, largely for tax reasons. I am taking this route for several... and it ties into why I am developing a way to trade multiple accounts across brokers

First... the paid by a prop model isn't horrible.
  • Today was a big day... My take on a day like today would be over $4k. Not a bad day... But let's say I set a simple target of $700 against a $150k account, and traded that across 4 brokers. That's $2800 against $600k of trading capital. Less than 1/2% a day. This feels realistic.
  • Net $5600 in a week and your take on that is just over $200k per year. // But it all starts with developing profitable habits and scaling them with proper risk management. (that's the idea anyway)
  • That net $$$ is what many complain about. In this version of the prop world, we are 1099 contractors and that $200k will be taxed as ordinary income... Ouch.

This brings me to the second reason I am working this....
  • My plan is, at the end of the month, to withdraw 1/2 of what I can, and move it to a personal account. I will do this until I have what I deem at that time to be a comfortable risk buffer in the prop account.
  • Then, I will add my personal account to the prop account trades and start taking advantage of the tax benefits of trading futures.
  • That is where I have seen several drain the prop account and move it all to a personal account. That, to me, leaves trading capital at rest. Sure, I have to pay higher taxes on that 1099 income, but if I can earn that with the same button click as I do the tax advantages futures trading, why not? // opinions welcome

Naturally, at some point in theory and hopefully, I will have an uncomfortable amount moving in and out of the market. At that time, I'll likely start swing trading equities again and adding to FIAs.

That's where my is head today, and it reserves the right to change it's mind down the road. :|

Take care and feedback is always welcome.

Trade well and Trade for Tomorrow....

//Doyal Alexander


******** Edited ********

Ok... so I didn't sit on my hands the rest of the day. @ 2:35p I had a buy alert... I checked the charts and it looked good... I entered at 2:39 and exited at 2:44 by hitting my profit target just under today's high for another 2 points.

Updated Numbers
  • TopStep Day 1: 3 lots / 13.25 pt net / $1,883.40 net
  • OneUp Day 5: 6 lots / 14.46 pt net / $4,157.5 net
  • Cumulative profit for the day.... $6,040.90



2020.08.24_Trades


Trade Log-2020-08-24

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  #8 (permalink)
New York, Usa
 
 
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Awesome work bro. I'm thinking about going with Oneup because of the single evaluation they have.

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  #9 (permalink)
Dallas tx
 
 
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Aries86 View Post
Awesome work bro. I'm thinking about going with Oneup because of the single evaluation they have.

Thanks for the kudos...

If you know what your doing, I am sure you can get funded with OneUp for more money faster...

My issue in my live account was consistency.... big wins and wipe outs.

Given that along with me wanting to win over the long run by honing my edge & consistency... Here is why I started with TST,
  • This was big for me. TST trailing stop is based off EOD numbers, meaning your unrealized profit highs during the day don't count against you. With OUT, if you are up $2k and close a profit of $1500, your trailing loss just got $500 closer to you. If you can't beat the EOD trailing stop, you don't stand a chance against intraday based off potential vs realized P/(L).
  • Step 2 of TopStep is all about Risk Management and the position sizing. It basically gets you ready for the live account rules you will see with them and most others. The OneUp live account works like TST Step 2. // TST Step 1 helped me overcome my over trading habit, and Step 2 has really reinforced the value of going in with way less than I have access to via leverage, and scale in as profit is realized.
  • TopStep doesn't have the consistency requirement that OneUp does...kinda. by having a slightly longer eval, they get to watch your trading over 5 more days. With OneUp, you need to be careful about having too good of a day in that your (i think) 80% of your best day can't be more than the sum of your next 3 best days. They want to see consistency over big swings... That's why I am targeting the profit $$ that I am.
  • Last, TST has a neat feature where they will let you go live with a sim account for your first $5k in profit... or whatever the trailing stop is in the account you choose. If you make it, you get a new live account with that $$ and having already beat your trailing stop. If you lose, you redo Step and hop back in vs having to completely re-qualify.

*** Also... I don't know if all TST accounts offer this, but their MultiCharts access allows me to have access to their trial account, and a practice account. I can take risks in that practice account and reset for free.


Depending on where you are in your trading, I think both have their advantages, as for me personally, blowing my Step 2 account with TopStep let me know I'd blown my live account with either of them. :/

I am curious where you land and how it goes.

Take Care and Trade Well.

//Doyal Alexander

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  #10 (permalink)
Dallas tx
 
 
Posts: 20 since Oct 2014
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Hey there Everyone. Happy Tuesday.

The script is tricky. I have it close-ish... I'd say I'm 80% done, which means I have a lot of work left. If you think of it like a 5 paragraph essay, the outline is done, all the subject content is known and in the correct order. I just have to get all the facts lined up just write to tell the story. // Said differently, I have a bug that is defined and known, I just need to figure out how to format the syntax to tell the story how I want it.

As for my 'click click' trading... I took a total of 5 trades today. As you'll see in the charts, I missed some opportunities, but I had a few calls for work and Lunch.
  • Trade 1: Scalped RSI XO Setup with higher TF momentum & volume. Trailing stop hit for 0.75 pt
  • Trade 2: Traded continued volume divergence and pressure from higher TF. Hit target @ 4pt
  • Trade 3: Scalped towards point of support with RSI & DMI XO and higher TF congruence. Target hit of 0.75
  • Trade 4: Scalped towards point of support with RSI & DMI XO and higher TF congruence. Target hit of 1.25
  • Trade 5: Traded end of day upward momentum with OBV divergence and higher TF support for more movement. Had a target of 4pt, but trailing stop was hit at 1.5 pt. Price did move back up and pass original target of 3340.

Account Totals
  • TST Step 2, Day 2: 4 lots / 8.25 pt net / $1,576 net
  • OneUp Day 6: 6 lots / 8.25 pt net / $2,325 net
  • Cumulative profit for the day.... $3,901


Take care and feedback is always welcome.

Trade well and Trade for Tomorrow....

//Doyal Alexander

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Boulder CO USA
 
 
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Seems like all is going well. I have to wonder though - if you put all of your focus on just one account wouldnít 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.

Iíve 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
 
 
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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 wouldnít 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.

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

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  #18 (permalink)
omaha ne
 
 
Posts: 5 since Dec 2018
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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
 
 
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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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omaha ne
 
 
Posts: 5 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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  #21 (permalink)
Dallas tx
 
 
Posts: 20 since Oct 2014
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Ok everyone... a lot has changed in the last 2 weeks...

I have spent a lot of time learning the NQ and getting my tail kicked, overhauling 'how' I trade, and have added a 3rd 'funder', LeeLoo, to the mix.

As of today...

TopStepTrader ($150k Account - Step 2)
  • Today: $750 // micros only
  • Total: $10,779 // target beat
  • Days Remaining: 1... I will complete this one Monday and be trading my live account with them...maybe... before the end of the week.

OneUpTrader ($250k Account)
  • Today: $768 // micros only
  • Total: 15,865 // target beat... still working to add about $750-900 daily via trading micros only
  • Days Remaining: 11

LeeLooTrading ($300k Account)
  • Today: $7,282 // mini & micro
  • Total: $11,696 // 8,304 remaining
  • Days Remaining: 8

LeeLoo is a an absolute beast to beat. In addition to having and intraday PnL, they have intra-trade tracking... Meaning if you have a $1k stop loss remaining... You enter a trade, it advances 1500 and closes with a 500 profit, YOU LOSE. They trail against your unrealized profit.

Needless to say, it took math and chart study time for me to to figure out how to trade and beat that. // After 2 days of active trading on that account, I still have my full $7,500 drawdown available, taking 5-10pt shots in the NQ...

As for my trading style, it has adapted significantly, and so have my tools... I have added Trading View for charting my multiple time frames, moved from Renko to minutes for charting and still use Renko on MultiCharts for order entry. I am manually entering trades on 3 separate accounts in 3 seconds or less.

The biggest and best change introduces has been...
  • Trend Lines: I line the hell out of my chart... Everyday, I clean my charts and look at the daily, 4h, 30m major S/R. Then I look to the 5m for minor support. I lay Fibs on the 5m previous swing high/low... And identify tiny trends in the 1 minute. // I watch the tape and momentum previously identified S/R. And trade accordingly.
  • Leverage: I am using way less leverage than is available to me. This has permitted me to open my stops up to better absorb swings, and scale in if I see stronger setups occurring. It also leaves me free to hedge my trades for improved performance: 10:1 micro/mini hedge for example. Needless to say, it is a lot lower stress managing trades this way.

Well, that's it for now... gonna head out for a walk and enjoy the weekend.

Take care. Trade Well & Trade for Tomorrow.

//Doyal Alexander

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  #22 (permalink)
Dallas tx
 
 
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poptarts View Post
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

The only funded rules Iíve heard people state are:
- follow the scaling plan
- 90 day probation
- 15 day checkins where you have to be profitable

So with that last bullet, you can lose the account without hitting the stop or scaling wrong. Personally, Iím all for profit and if Iím not in the black after 15 days, Iíve got no business day trading.

One thought though, and this applies to all these funding guys, withdrawals need to leave a proper safety margin.

Until I see someone actually 'say' what lost them their account, as compared to a rant, I have to assume it's legit..

****** ALSO NOTE ************

OUT charges $5 commission on micros.... so no tiny moves or commissions will eat you alive.

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  #23 (permalink)
Montreal, QC, Canada
 
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Congrats on Topstep, and OneUp it sounds like.

Question on the Topstep funding - sounds like you are going right into the Funded account instead of Pro? Just curious. If so, I thought there was about a 2 week wait to get a funded account set up (you mentioned be trading live by end of the week). Just curious I guess if you are going Pro or Funded, and if you heard anything about accounts being set up quicker than 2 weeks?

I'm also in $150K, Step 2, day 5, and about half way there on profit. Looking forward to passing.

And you are right LeeLoo is a beast. Im thinking about doing the $74 LeeLoo express, have done it before and that trailing stop got me a few times so I gave up on it. The cheap price though... they definitely know how to get people in.

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  #24 (permalink)
Rovigo (ITALY)
 
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Forget all these companies.... you will just lose a lot of time and energy. In less than one week after going live you will blow up.
Trust me, there are too many rules, it makes no sense to trade with these.
Also, with the exclusion of TST the rest will not even transmit your orders to the market.

By the 20th of September you will go back to start a combine again. Put 3000 bucks in a real account and trade the micros.



doyalalexander View Post
Ok everyone... a lot has changed in the last 2 weeks...

I have spent a lot of time learning the NQ and getting my tail kicked, overhauling 'how' I trade, and have added a 3rd 'funder', LeeLoo, to the mix.

As of today...

TopStepTrader ($150k Account - Step 2)
  • Today: $750 // micros only
  • Total: $10,779 // target beat
  • Days Remaining: 1... I will complete this one Monday and be trading my live account with them...maybe... before the end of the week.

OneUpTrader ($250k Account)
  • Today: $768 // micros only
  • Total: 15,865 // target beat... still working to add about $750-900 daily via trading micros only
  • Days Remaining: 11

LeeLooTrading ($300k Account)
  • Today: $7,282 // mini & micro
  • Total: $11,696 // 8,304 remaining
  • Days Remaining: 8

LeeLoo is a an absolute beast to beat. In addition to having and intraday PnL, they have intra-trade tracking... Meaning if you have a $1k stop loss remaining... You enter a trade, it advances 1500 and closes with a 500 profit, YOU LOSE. They trail against your unrealized profit.

Needless to say, it took math and chart study time for me to to figure out how to trade and beat that. // After 2 days of active trading on that account, I still have my full $7,500 drawdown available, taking 5-10pt shots in the NQ...

As for my trading style, it has adapted significantly, and so have my tools... I have added Trading View for charting my multiple time frames, moved from Renko to minutes for charting and still use Renko on MultiCharts for order entry. I am manually entering trades on 3 separate accounts in 3 seconds or less.

The biggest and best change introduces has been...
  • Trend Lines: I line the hell out of my chart... Everyday, I clean my charts and look at the daily, 4h, 30m major S/R. Then I look to the 5m for minor support. I lay Fibs on the 5m previous swing high/low... And identify tiny trends in the 1 minute. // I watch the tape and momentum previously identified S/R. And trade accordingly.
  • Leverage: I am using way less leverage than is available to me. This has permitted me to open my stops up to better absorb swings, and scale in if I see stronger setups occurring. It also leaves me free to hedge my trades for improved performance: 10:1 micro/mini hedge for example. Needless to say, it is a lot lower stress managing trades this way.

Well, that's it for now... gonna head out for a walk and enjoy the weekend.

Take care. Trade Well & Trade for Tomorrow.

//Doyal Alexander

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  #25 (permalink)
Tucson
 
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Lol there are successful funded traders all over thr world.

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  #26 (permalink)
Dallas tx
 
 
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lexknight View Post
Congrats on Topstep, and OneUp it sounds like.

Question on the Topstep funding - sounds like you are going right into the Funded account instead of Pro? Just curious. If so, I thought there was about a 2 week wait to get a funded account set up (you mentioned be trading live by end of the week). Just curious I guess if you are going Pro or Funded, and if you heard anything about accounts being set up quicker than 2 weeks?

I'm also in $150K, Step 2, day 5, and about half way there on profit. Looking forward to passing.

And you are right LeeLoo is a beast. Im thinking about doing the $74 LeeLoo express, have done it before and that trailing stop got me a few times so I gave up on it. The cheap price though... they definitely know how to get people in.


Hey there!

I do plan on doing the pro account. I know a few folks that had it going in about 2 days, then just a few more days from Pro to Funded. I like the idea of walking into the actual funded account having already beat the trail.

As for LeeLoo, I think I have it figured out. Time will tell if course.

I canít say this enough, esp when I hear folks ranting about blowing up their funded accounts. The rules seem okay, so long as you donít over extend yourself. Too much leverage just eats away your ability to really manage a trade.

Also, if I were either funding a live account, or launching trades alongside your trades like folks complain about with some firms, Iíd have rules on how YOU risk MY money... and Iíd fire you for breaking them. From my perspective, so long as they pay, itís a win.

As I do plan on keeping a cushion after withdrawals to help prevent blowing the account, and those withdrawals will go to my personal account to trade under a more favorable tax situation.

*** looking for opinions ***

Should I continue this journal for my funded account progress, or start a new one to let people know what itís like trading for those companies?

Take care,

Doyal Alexander

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  #27 (permalink)
Montreal, QC, Canada
 
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doyalalexander View Post
Hey there!

I do plan on doing the pro account. I know a few folks that had it going in about 2 days, then just a few more days from Pro to Funded. I like the idea of walking into the actual funded account having already beat the trail.

As for LeeLoo, I think I have it figured out. Time will tell if course.

I canít say this enough, esp when I hear folks ranting about blowing up their funded accounts. The rules seem okay, so long as you donít over extend yourself. Too much leverage just eats away your ability to really manage a trade.

Also, if I were either funding a live account, or launching trades alongside your trades like folks complain about with some firms, Iíd have rules on how YOU risk MY money... and Iíd fire you for breaking them. From my perspective, so long as they pay, itís a win.

As I do plan on keeping a cushion after withdrawals to help prevent blowing the account, and those withdrawals will go to my personal account to trade under a more favorable tax situation.

*** looking for opinions ***

Should I continue this journal for my funded account progress, or start a new one to let people know what itís like trading for those companies?

Take care,

Doyal Alexander

Cool, after I posted I kind of figured you must be going Pro first, seems like the move most people make and makes sense for sure. Same plan for me, go pro hopefully turn it into funded within a week or 2 then roll into funded with a balance, and use it as a buffer.

I passed TST once before and went pro, they had it set up within a day. I managed to blow it up within 2 days basically going big, lot of lessons learned. 100% with you on not trading the full size just because you have it.

I'd say start a new journal once funded, just seems like a clean start, almost like graduation. Can just put a link to the new journal as your final post in this thread.

Good luck, sounds like its your week to shine!

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  #28 (permalink)
Philadelphia, PA
 
 
Posts: 5 since Jun 2020
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doyalalexander View Post
Hey there!

I do plan on doing the pro account. I know a few folks that had it going in about 2 days, then just a few more days from Pro to Funded. I like the idea of walking into the actual funded account having already beat the trail.

As for LeeLoo, I think I have it figured out. Time will tell if course.

I canít say this enough, esp when I hear folks ranting about blowing up their funded accounts. The rules seem okay, so long as you donít over extend yourself. Too much leverage just eats away your ability to really manage a trade.

Also, if I were either funding a live account, or launching trades alongside your trades like folks complain about with some firms, Iíd have rules on how YOU risk MY money... and Iíd fire you for breaking them. From my perspective, so long as they pay, itís a win.

As I do plan on keeping a cushion after withdrawals to help prevent blowing the account, and those withdrawals will go to my personal account to trade under a more favorable tax situation.

*** looking for opinions ***

Should I continue this journal for my funded account progress, or start a new one to let people know what itís like trading for those companies?

Take care,

Doyal Alexander

Starting a new journal sounds right. I would wait a few weeks before doing so, however, and stick with this thread for now just in case you blow up your funded accounts and have to continue on with getting re-funded. That way you can start the new thread with a lot of detail with your experiences.

Thanks for being so detailed with your posts. We all really appreciate it.

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  #29 (permalink)
Leeds UK
 
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SamJames View Post
Forget all these companies.... you will just lose a lot of time and energy


Wishing you nothing but well, of course, Doyal, but I must say that the above thought, or something pretty like it, more or less represents my own instinctive reactions, having been following your thread for a while.

Hope you don't mind being asked, but why are/were you trying to qualify with three different companies (with three different sets of rules) at the same time?

The potential disadvantages are all too apparent; clearly there must be advantages, too - or you wouldn't be doing this - so I can't help wondering what they are?

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  #30 (permalink)
Dallas tx
 
 
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Tymbeline View Post
Wishing you nothing but well, of course, Doyal, but I must say that the above thought, or something pretty like it, more or less represents my own instinctive reactions, having been following your thread for a while.

Hope you don't mind being asked, but why are/were you trying to qualify with three different companies (with three different sets of rules) at the same time?

The potential disadvantages are all too apparent; clearly there must be advantages, too - or you wouldn't be doing this - so I can't help wondering what they are?

The advantage is access to more trading capital, so that I can put less at risk per account and still make decent money... 0.5% of $700k is $3,500.

As for trading, I following the most restrictive account rules for all the accounts... So, Leeloo has the cake there.

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  #31 (permalink)
Dallas tx
 
 
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So this is my last message on this board. I will update this later this weekend with a link to my new board to track results as a funded trader.

Since my last update, I have been funded by TopStep trader. I chose their Pro account and met their $5k earnings threshold under 2 days. I am in the process of having my live brokerage account with them set up and the $5k transferred into it as my starting balance. I chose it because it was a low risk way to enter a funded account, and with that $5k my trailing stop has already been met.

I started Leeloo 8 days ago. I chose the $300k account, with a $20k and 10 day trading requirement. Yesterday marked 8 days & $32,406 of profit, with that being fairly evenly spread across the days. At this point I have a just over a $12k buffer... so this account will qualify for funding, giving me access to a total $450,000 of trading capital.

Earn2Trade and OneUpTrader were blown while testing a hedging strategy that should have been accepted during the trial IMO. I was long NQ and up ~$1,500 in each account when I saw a big reversal that I didn't care to actively trade... So I shorted 10x the number of MNQ giving me roughly a 100% downside risk. The plan was to ride that down to the reversal point, exit the hedge, and enjoy the retracement with additional profit. It is a more complex trading plan, but I have seen it work with other I have met. // The problem during the trial however is that these guys were watching per trade active PnL. So even though my account PnL was fluctuating back and forth near flat during the fall, my long trade was losing it's shirt and met the loss requirement... even though my PnL hadn't changed. This was a lesson learned during the trial. So they were reset.

Once these accounts finish in just under 2 weeks that will bring me an additional 400k of trading capital, for a total of $800k.

Take care and Trade Well.

Doyal Alexander

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  #32 (permalink)
Montreal, QC, Canada
 
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Fantastic results, nicely done. Looking forward to your new thread.

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  #33 (permalink)
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Cant w8 for your new journal. As a beginner Ilike the way you showed how approach trading as a hole and your preparation for a day and what you improved based your experiences.

Wysłane z mojego SM-A605FN przy użyciu Tapatalka

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  #34 (permalink)
Rovigo (ITALY)
 
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I read your journal. It sounds very good in paper but honestly I think you are very optimistic.
I have passed TopStep many times and once you go live you must be really specific in how you manage risk.
You talk about having an equity of 800.000 usd, are you sure to know how much that is?

What is the max size you use in your trading? If I can give you an advice, forget trading more than 3 contracts until you make at least 20k in real profit. If you trade 10 contracts you will blow up.
It's tricky. If you trade size it's easy to have a 7000 usd day, but can you manage it?

Play safe.

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  #35 (permalink)
Dallas tx
 
 
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Thatís the truth. I have dialed my risk tolerance back now and only trade 1-3 lots... typically 1 lot and aim for $750-1500 a day, averaging just over $1k. Also, those combines set you up with a false expectation. Itís not a $100k with a $3k stop. Itís essentially a $3k account and needs to be traded as such.

Also, I am trading less frequently, being more selective in my entries and direction, trading off key levels. If I do trade more than 1, I take profit soon on one and and trail the intraday flags and consolidation areas. I have also started to leave my computer for a few hours after I hit my PT for the day. Letís me mentally reset and not over trade.

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  #36 (permalink)
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Best of luck with the funding. Trying to get funded on one account was hard enough for me with tracking the P/L and variety of rules. Can't imagine managing 3 at once. Your idea about managing risk while accessing upwards of 700k in capital is an interesting perspective. Hope it works out for you - 0.5% of a huge sum like that would be a great position to be in.

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  #37 (permalink)
Rovigo (ITALY)
 
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Yes, it's completely true. Basically you are trading a 3k account and you're required to make 300% return to pass the combine.
So it is really challenging.
doyalalexander View Post
Thatís the truth. I have dialed my risk tolerance back now and only trade 1-3 lots... typically 1 lot and aim for $750-1500 a day, averaging just over $1k. Also, those combines set you up with a false expectation. Itís not a $100k with a $3k stop. Itís essentially a $3k account and needs to be traded as such.

Also, I am trading less frequently, being more selective in my entries and direction, trading off key levels. If I do trade more than 1, I take profit soon on one and and trail the intraday flags and consolidation areas. I have also started to leave my computer for a few hours after I hit my PT for the day. Letís me mentally reset and not over trade.

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  #38 (permalink)
Mumbai india
 
 
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I am looking for a gold loan and need to clear few queries Are there different types of gold loan or schemes? and how long does it it take to get a gold loan in India?

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