Hope you had a great weekend away from the markets, today was Day 2 of my Funded Trader Preparation with TopstepTrader. It was pretty clear that Crude Oil Futures (CL) was very bullish in the overnight session and that continued right into the pit open. I took a couple losses trying to take the market back down to a retracement level I thought was important but it didn’t happen.
By then I was chasing my losses and overtraded, at one point I was down over 120 tick (-$1200) I used poor risk management when it came to using my lot sizes. I managed to spot a setup at the end of the pit session close that brought me to my end of day total to -$641. It puts be below zero for the FTP with 8 days remaining to reach my profit target of $3000.
I did not see any valid trading opportunities in the ES market today, I will be watching it throughout the FTP.
I will take a step back and see how we can turn it around tomorrow! Thanks for stopping and reading trading update.