TopstepTrader Funded Trader Preparation Day 8
Thanks for coming back to read my trading blog for March 1st, 2016. Today was Day 8 of my 150k TopstepTrader Funded Trader Preparation. Crude Oil was defiantly bullish in the Overnight London Session but as soon as the pit open session hit it did turn bearish.
I was a little early with my trades to the short side and I got stopped out twice with a break even trade. I was down approx. 20 ticks (-$200) when I walked away for the morning. I decided to come back and take a look the charts just at the close of the pit session. I identified 2 good setups and had two winners and a break even plus a few ticks.
I ended the day in the winner’s circle with a small profit but most importantly stayed patient to get there. I was only 55% profitable today which tells me that my Momentum Trading Strategy risk/reward took over and helped me to profit. Risk/Reward is your trading is the single most important tool.
If you are reading this and are consistently losing over time you need to ask yourself a few questions. What is your risk/reward on any single trade? Can you lose more than win and still be profitable? If the answers to these two simple questions are no or you don’t know how to answer them then that might be the start of all your problems in trading. It was for me until I worked hard to change it all.
I’m 2 days away from completing the 150k TST combine and FTP and returning back ito the Funded account.
If you have any questions on my trading or my strategies feel free to contact me directly to chat.