Small Funded(Live-Sim) Account Journal

[Concinnity]

Funded(Live-Sim):
Account Size: $1,500.00
Daily Loss Limit: $300.00 (This is the rule I need to follow; my own set amount)
Trading: MNQ, MES, RTY
Trading Size: 1-3 Micro's max position size(Another rule need to follow; my own)

Some companies have been having some really good sells. I picked one up and passed it. The intention of this account will be to build some discipline and learn to be patient for trades and follow rules. Main purpose of this journal is to help keep myself focused and following rules(since other people can see, want to see if this helps me honor my rules more).

Willing to potentially expand the journal in the future, but right now may just be limited to my general thoughts and end of the day profit or loss. Since my active trading takes precedence over posting here, I think that is fair and understandable. This is and will be separate from other trades I take in the ES 2021/2022 journal. Those can be highly discretionary. The purpose here is to take more defined repeatable setups with a more exact risk profile.

 

[Overnight]

Funded(Live-Sim):
Account Size: $1,500.00
Daily Loss Limit: $300.00 (This is the rule I need to follow; my own set amount)
Trading: MNQ, MES, RTY
Trading Size: 1-3 Micro's max position size(Another rule need to follow; my own)

...

Man, why doesn't the lowly Dow get any love? The thing had a 500 point range today!

 

[Concinnity]

Man, why doesn't the lowly Dow get any love? The thing had a 500 point range today!

Bro, because even though I am making good progress on trading I am still a small time guy, still focusing on Micro's and it isn't worth me paying the extra data fee. Actually even if I had DOW data, I wouldn't trade it. I just prefer NQ by a large margin and ES second. Really I just mainly chart RTY as rarely, but sometimes it factors into my probabilities for the other markets.

Like today once I finally figured out their intentions were bullish. I look at RTY Daily and it had that look of if there's any buyers left at all we should at least move up and squeeze some shorts. So, figured NQ/ES would keep the bullish bias once we start trading above both their Daily supports. Just a few things I personally factored into my trading today.

But yeah DOW isn't that bad really, if I am being honest. But already charting 3 different markets, the edge or benefit of charting another isn't likely to make up for the additional mental capacity it would take up.

 

[Overnight]

Bro, because even though I am making good progress on trading I am still a small time guy, still focusing on Micro's and it isn't worth me paying the extra data fee. Actually even if I had DOW data, I wouldn't trade it...

Ahh, I just assumed you had the CME/Globex bundle. Didn't know you had just CME straight-up.

 

[Millionaire]

Daily Loss Limit: $300.00 (This is the rule I need to follow; my own set amount)
Trading: MNQ, MES, RTY

RTY or M2K?

$300 is only 6 RTY points.

 

[Concinnity]

RTY or M2K?

$300 is only 6 RTY points.

Sorry M2K to clarify. Will only be trading Micro's. Thanks for pointing that out.

 

[Concinnity]

Hmmmm these aren't my favorite days to trade when market rallies overnight, wasn't super huge rally, but still. Can make the short more difficult due to the momentum, but at same time baseline structure of the market isn't really strong enough yet for me to want to be aggressively buying up here from an intra-day perspective and the draw down I want to keep under. Not a great place for a stop up here either. Will have to wait, be patient and let a trade come to me.

Knowing all this may not be taking many trades today. I really want to stay disciplined, be patient and take trading this account seriously. No need for me to jump into sub par trades that I don't have a good read on, particularly since this account while having reasonable draw down for micro's, still is only $1500.00.

 

[rb7]

Funded(Live-Sim):
Account Size: $1,500.00
Daily Loss Limit: $300.00 (This is the rule I need to follow; my own set amount)
Trading: MNQ, MES, RTY
Trading Size: 1-3 Micro's max position size(Another rule need to follow; my own)

Some companies have been having some really good sells. I picked one up and passed it. The intention of this account will be to build some discipline and learn to be patient for trades and follow rules. Main purpose of this journal is to help keep myself focused and following rules(since other people can see, want to see if this helps me honor my rules more).

Willing to potentially expand the journal in the future, but right now may just be limited to my general thoughts and end of the day profit or loss. Since my active trading takes precedence over posting here, I think that is fair and understandable. This is and will be separate from other trades I take in the ES 2021/2022 journal. Those can be highly discretionary. The purpose here is to take more defined repeatable setups with a more exact risk profile.

What's a 'Live-Sim' account?
Is it live (real-money), or simulation (paper trading)?

 

[Concinnity]

What's a 'Live-Sim' account?
Is it live (real-money), or simulation (paper trading)?

It's from those prop firm companies. So, I passed their test and am move to "funded". Some companies do have live accounts, but other companies also have Live-Sim where they set you up on a SIM account still, however you are paid as if it were a live account.

I've personally taken withdrawals and also know other people who have taken consistent withdrawals (One person at least $18000.00 of withdrawals) So, the companies do pay out. It's just so many people fail the initial test or fail once they are funded, it can still be a profitable business model to just eat the losses that other traders make (they do reserve the right to copy your sim trades on real accounts though). Lastly some companies will eventually move you from Live-Sim to real account as well if you're consistent enough.

 

[Concinnity]

What's a 'Live-Sim' account?
Is it live (real-money), or simulation (paper trading)?

Technically this particular account is simulation (paper trading). However, I did pay a small fee for the test to pass it and if I make money as said previously they do pay out. So, I am treating it seriously as if it was $1500.00 because it may as well be real money to me, from the perspective that since I get paid on the outcome as if it was real money.