Ah, I didn't see that. Indeed, it is a vacation.
Top Step Trader Funded Account Journey
- Thread starter Secret Sauce
- Start date
Ah, I didn't see that. Indeed, it is a vacation.
.View attachment 269314
Sorry for the slim and barely noticeable trade lines. I don't think I can adjust them.
Well, I think I jinxed it but we'll see next week.I guess no updates for the time being since my account parameters won't reset until then.
I'm just really pissed at myself for not following one simple rule I gave myself. NO SCALPING NO SCALPING NO SCALPING.
Hi SecretSauce,
Do the thin greenish connecting lines indicate entries & exits of long trades and the reddish ones short trades?
So you finished -$2940? It says "daily loss limit". Did the platform automatically stop you from trading at that point? And this is not your money? Who pays the loss? Is this SIM or real money?
The slope of the lines tell whether it's a long or a short. The green and red lines tell if it's a win or a loss.
By hitting the daily loss limit, the platform will automatically liquidate you and basically terminate the account.
No it's not "my" money.
It's "real."
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TopStep's own thread: https://www.elitetrader.com/et/threads/topsteptrader-q-a.305660/
my referral link just in case:
https://app.topsteptrader.com/refer/sign-up/93dc3c
It's going to be a TIGHT week.
I basically have a buffer of $1500. Wish me luck.
I basically have a buffer of $1500. Wish me luck.
It is not real, because the rules are unreal.
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The rules seem to reward aggressive in and out traders who like to trade big size.
If you are trading for a dump in NQ, you start with one contract. After this, there are two options: the market either goes in your favor or against your favor. You can count flat as against your favor.
If the market goes in your favor, as long as it hasn't reached your target, you start adding aggressively on pullbacks. This can take place within minutes, especially if you're trading the first half hour.
If the market goes against you, you re-evaluate and see whether your entry was early or the trade was just plain wrong. If the trade was just plain wrong, you have not lost much in max drawdown and start looking for an exit. If the trade is still correct, you are only in the trade for one contract. Then you start looking for places to add as long as your trade is not invalidated.
In both cases, it's possible to start small and add aggressively as you validate your trade.
I think the mistake most traders would make is going in with huge size in the beginning or getting stopped out too frequently.
Trade one contract, don't get stopped out 18 times.
The mistake is signing up for it in the first place.
"Do not hold into major economic releases."
For God's sake, WHY NOT?!?!? Does a major economic news release cause the market to collapse? NO! Just look at the Fed meeting Minutes release last week. There was a jerk up, a jerk down, and it was all copacetic after an hour. The FACK.