TST Funded Trader Preparation Day 8
Thanks for coming back to read my trading blog. Today was Day number 8 in my TST Funded Trader Preparation. I typically start my trading morning at 5:30am PST going through my charts and pre market routine.
If you read my blog update yesterday I had a pretty large loss and took a blow to my account. I’m not the best trader on Crude Inventory days so I decided to sit out until after the Inventory Report came out. You can get great volatility on these days and it was a good opportunity to find a trade that I could capitalize on to get me back on track.
Shorted at 38.67 and as soon as It made its first pivot down towards my target you could feel it start to pick up. That is when I decided to look for an extended target. I know crude can make $1.00 moves (100 ticks) in a certain direction. That’s where I placed my target and I trailed my stop. It actually hit my target which I moved to look for even more (greedy). I ended closing the trade 37.81. It took a couple more tries to get that extra move I was looking for but I got it.
I’m above my final target that I need to pass, I now need to complete two more trading days and stay within all the rules.
My hope is whomever is reading my blog learns something or can relate. Day Trading is not easy, it takes a lot of time to and practice to achieve any level of success. Believe me I have been through ALL the ups and downs and continue to. Passing the TopstepTrader combine and Funded Trader Preparation is very difficult. You need a TST plan separate from your trading plan and strategy because the rules do not allow you to show any weaknesses in your trading, the combine really exposes them.
I truly believe if you can get through it and pass it, continue on in the real account you have an excellent chance of being successful long term consistently. That means getting through all three parts of the combine. I call it three because after the FTP you enter the Funded Account with the same strict rules as the FTP. Weekly loss limit and all. I think It helps to develop the skills you need and harness the bad ones such as my biggest weakness, over trading.
Tomorrow I will be trading with my students in the trade room and answering questions. Most of my trades will be in SIM as I do not want to jeopardize my passing account status with TST.
Click HERE to see my chart and exact trades from today, below is a quick video recap and snapshot of my TST account update.
Thanks for taking the time to read my progress and happy trading!