My scenario currently is this one.
I sold a bit early @ 2450.
I didn't expect price to breach 2480.
Little resistance @ 2370 as 1433 asks were hit.
Last edited:
6 months TopStep 50K Net Profits
- Thread starter Sekiyo
- Start date
My scenario currently is this one.
I sold a bit early @ 2450.
I didn't expect price to breach 2480.
Little resistance @ 2370 as 1433 asks were hit.
This is what happens to careless. Reckless guys.
Made a nice short during the Asian session.
2450 -> 2400 +50pts
Then price reach 2500 again.
I really don't follow my plan, got 2.5k cushion, I can gamble a bit.
2470 I buy 1. Price reaches 2440 I buy another one.
I am short 2 contracts @ 2455.
Then the price drops. I capitulate at the low 2400.
Lost 5500. Daily limit hits.
I go reset my account.
I buy the low (2427). Then I fell asleep.
Did put 2 contracts to short @ 2495.
I wake up. I am short 1 @ 2495.
Price is something like 2560.
Check the chart. Ok ... Due for a retrace.
20 minutes before the close price fall. It reaches my GET ME OUT TP.
Well ...
Got to take it more seriously.
I can't be reckless, careless and gambling.
Otherwise I'll get the TST best sucker awards.
Take care.
I gotta say. Its a bit confusing to see this along with such a nice PnL chart. It just doesn't make sense to be so consistent with making money, but then have to go to square one.
If you didn't have a daily loss limit, do you think you'd be doing much better? If you were trading your own account, could you replicate this type of trading? Or are you more so not caring about the trades, no emotional attachment since its not your money, so its easier to do the right thing, bet then that 1% of the time you get bitten?
I honestly think that given the low barrier to entry for trading micro contracts, its the day to go. I mean if you have $500 or whatever it is for these TST entry fees, I think you can almost trade one micro. Perhaps the margins are higher now, but they shouldn't be too far out of reach.
At least when you pass a TST, its easier to trade the same way, since its still not your money, but I know personally the difference it is to trade SIM vs. real money. So I think the sooner a trader gets to trading real money, even just one micro contract, the better off they will be for long term success.
In my opinion it does make sense.
He has a habit of letting losers run until he gets near his daily loss limit and probably is just hoping for that the market is going to reverse.
Absolutely no disrespect to you Sekiyo, you are great at picking entry's but you need to work on your exits when a trade goes against you. You are taking way to much risk and it almost seems like you are gambling. If a trade doesn't reverse you blow the account. This also explains the crazy high win rate, you are just not taking losses and that is what is killing you.