Small Funded(Live-Sim) Account Journal

[rb7]

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.

Thanks for the clarification. I wasn't aware that this type of 'trading business' exists.

I find it weird though. The possibility to withdraw real money if your paper trading account is making money!!!
Where the hell do they take the money that you withdraw???

 

[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.

Just elaborate conceptually here a little. We're overbought on larger time frame, however the way the EMA's are positioned(the angles) they are not fully bearish, but also not yet fully bullish. This makes it more difficult to get a probability read for me.

Remember overbought act's different depending on context. Overbought is actually more of a bullish signal if context is strong bullish. Overbought is bearish if coming from a bearish context. (Obviously different people use different metrics to get the context this is a conversation for another time).

I'd say overbought is one of the most misunderstood things and traded very poorly. This is just a baseline macro explanation. Not prepared to go into it deeper at this time.

 

[Concinnity]

Thanks for the clarification. I wasn't aware that this type of 'trading business' exists.

I find it weird though. The possibility to withdraw real money if your paper trading account is making money!!!
Where the hell do they take the money that you withdraw???

Because people pay fee's to take a test and if they stay within all the perimeters of the test and pass, they than get moved to a Live account or a Live-Sim account with the ability to earn money should they successful keep following the rules. Some companies have very liberal withdrawal policies others have time limits and etc. Each has their own advantages and disadvantages.

This particular account is better for long term, as their storm term withdrawal polices give you less of a % cut until you trade for at least a month, than you get 100% up to a certain amount, after that it drops to 80%. Also, this account is a live trailing draw down, which I am not a huge fan of. Prefer your trailing stop increase at the end of the day. But they had a really good deal on this account so purchased it anyways to see what I can get done.



EDIT: TLDR version is a lot of people fail the test and those fee's cover other traders who make money and than some.

 

[maxinger]

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.

Seems like you are making good progress.
Keep it up.

I am keen to know how you trade.
Could you please post a screenshot of your chart?
any old chart will do.

 

[Concinnity]

RTY looks great here imo... Have a target way up at 2104.30 ish

 

[Concinnity]

4573-4577 is a distribution zone I have. Also ES Daily resistance is 4577.75. ES looking oversold here as well. Hard to believe they won't try to break above the zone + Daily resistance at some point today to squeeze some shorts.

 

[Concinnity]

Day 1 Results:
New Account size: $1987.00
Total Profit: $541
Net Profit: $487
Trailing live draw down risk left: $1478.00

Rules:
Trade only repeatable and clearly defined setups: Failed (Too much discretionary trading)
$300.00 Loss limit: Passed (was never down more than $100.00 prior to being in profit)
3 Micro contract size: Failed (went to 4 once, other than that traded mostly 1-2)


M2K: Made $39.50. Did not get the big move I was looking for.
MNQ: Made $501.50

Winning trades: 31
Losing trades: 19
Scratched trades: 2

 

[Overnight]

Day 1 Results:
New Account size: $1987.00
Total Profit: $541
Net Profit: $487
Trailing live draw down risk left: $1478.00
...
3 Micro contract size: Failed (went to 4 once, other than that traded mostly 1-2)

...

You are done. Reset your account to 1500 bux and try again after paying yourself the reset fee.

 

[Concinnity]

You are done. Reset your account to 1500 bux and try again after paying yourself the reset fee.

lol Thankfully I'll be more generous since it's myself and not make myself reset. Just trying to make my rules well within their rules. That way if I fail to follow them completely, I am still well within their perimeters.

 

[Overnight]

...Just trying to make my rules well within their rules. That way if I fail to follow them completely, I am still well within their perimeters.

You mean trying to fit your parameters within their's, with extra cushion? Nah, in my mind that is cheating. I think you should flagellate yourself and reset your account and start over. Because if you break THEIR rules, they will not be so kind as to give you a free pass, as you are giving yourself.