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On March 19th I passed my TopstepTrader 50k Combine. This was my fifth Combine, 1st on TST 2.0 system, 1st 50k. The first four were 150k on TST 1.0.
This happened during course of more that one year while TST rules changed over time. Reasons I failed 4 FTPs should be examined and addressed how to overcome.
classical traders' topics to overcome
trading when emotionally down
not cutting losses short / trading recklessly
fear of pulling the trigger/losing
not taking profits on the run
other emotional topics involved
hurdle of being positive on each product traded
trading product not profitable in Combine
hurdle of 10 days for account to be above 0
feeling guilty of trading without consent of spouse
feeling guilty of trading in office during working hours
Errors of broken rules were all rules that were later eliminated. The other two bring misalignment at times but can be handled by carefully managing time.
I was on a company team building and planning so I did not have time nor energy to even watch markets. I've found out during weekend that Dave Knight of https://www.123daytrading.com/ aka https://twitter.com/tradecraze lost in his sixth funded account as seen here
This was kind a next emotional hit for me - who could actually make it through FTP and hold on to live account???
But I've passed five times through this FTP so there must be a way... It is good that I have a FTP account, do not have to pay for anything and having a cash position. Time to recoup and come back stronger....
I was getting emails from FX Trader’s EDGE for some time (clue from Traderflix, first one from Rob Mitchell) generally about using Elliot Wave, Fibonacci, Harmonics. Last email was a question about Trader's Scorecard Scorecard - FX Trader's Edge
I evaluated according to current state - or wanna be state. Result below:
It also had an invitation for a peer-to-peer session with Jody Samuels. I felt so desperate this week that I booked one slot thinking "what can I loose..."
Interview with Jody was very pleasant. I talked about my experience with markets and trading, showed her my TST dashboard and recent successful Combine and talked openly about my current situation. She asked question like "what do you do good when trading" and suggested a few very important points. At then end I felt really deeply relieved, it was very good to talk with somebody else about your trading. Perhaps I could do also coaching session with TST, which should be free once per month.
reschedule my time to avoid ethical conflict of trading in work
trade for a sort time, e.g. during lunch time
take small losses/profits
put all things in alignment
be honest
read her book about taking trading as an entrepreneurial business
