SelfMadeDude,
If you believe that you have an edge then don't quit. However don't trade if you have outside distractions. If you come back, keep on posting your trade progress. I am personally rooting for you and hope that you succeed.
I have been in the same situation- fighting the trend and adding to a losing position. This does not work !!! You might "escape" 10-20 times but in the end you will lose big if you do this. You have a 4500 drawdown. Pros obviously have a much bigger bank roll...
You were not filled so I don't think that you broke the rule. Good job trading man ! You give me hope in my trading. Good luck in the funded account. Stay disciplined and don't let bad trades run against you. Cut them as soon as possible. You have much more...
When can I trade?
The Trading Combine® is best for Intraday Futures traders who end their trading sessions in cash with a positive or negative Daily P/L. We require that our traders close their positions before 3:10:00 PM Central Time CT Monday through Friday and trading resumes at 5:00:00 PM CT.
Keep up the good work man! Remember that in the Step 2 Combine and in the Funded account there is a scaling plan.
https://help.topsteptrader.com/hc/en-us/articles/360000140787-What-is-the-scaling-plan-
Your rules are good. To me Rule #1 is the most important. Always...
On the 150K the total starting draw down is 4500. If you are down 1500 just stop for the day. This way you will have at least 3 days to go bust. Bad days happen to every trader. Good ones know when to walk away and fight another day.
You are very correct about the importance of risk management and the need not eliminate excessive position size. My assumption is once one has a 8 lot position which was created by adding to a smaller winning position , probably 4 lots already have a break-even stop...
xoxo !
You should not trade 15 contracts at once during the 150 K Combine. Start with a 2-4 contract max position. If it goes your way and you think there is more room to follow , then add a few more lots and lower your stop on the first position. Your max position...
I had the chat a few years ago. Assuming it's the same now,you just have to state your basic strategy for placing trades. At that point you are already selected,they just want some one with a plan.