Today was day 5 of my Funded Trader Preparation with TopstepTrader. If you read yesterday’s blog I got myself into some trouble by over trading and trying to do to much. Today’s goal was to win the day, that’s it. The reason was because anything above a 50 tick loss today I would of hit my weekly loss limit and be disqualified for a funded account.
If you traded Crude Oil today you know what I mean when it was Volatile. Not just Crude Oil Volatile but extreme Crude Oil Volatile! When it gets like it was today it can get a little difficult to get into trades and hold them. The whip of the market triggers stops and targets so quickly you barely have time to think. You have to think and react very quickly.
It was an up and down day for me. I missed the big bearish run after pit open, I tried a bunch of times to get it but I do use a small stop loss that I’m always thankful for because it keeps me in the game. It was no different today. After hitting a small bullish reversal it put me back into positive territory for the day and the week for the Funded Trader Prep.
Net of about 37 ticks today (+$370) and about +20 ticks half way through the FTP. My goal is to have the profit target hit my day 10 which is next Friday and officially get Funded. Lots of work left to do so I will stay focused and prepare accordingly.
Below is a video update on our student traders this week. Once again proving that the strategy we trade can consistently make profits when you understand momentum, direction and most importantly Risk vs. Reward. I’m extremely happy with their results as it only gets better and better. An awesome group of traders who share, compare notes, trades and help each other.
Thanks for reading and like always if you have any questions feel free to send an email or add myself to Skype.