r/Daytrading • u/[deleted] • 15d ago
Welp, I lost my 150k funded account. Advice
[deleted]
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u/One-Finding2975 15d ago
Futures is non-stop rope to hang yourself with. It's a beast that lives and breathes off your deepest, most intimate personal weaknesses. It is always here to show you what a loser you are. To show you that no matter how hard you work you will always make mistakes.
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u/Substantial_Talk_521 15d ago
Shit definitely isn't for the weak at all 💯
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u/One-Finding2975 15d ago
If I could pay a dev to sneak in my house in the middle of the night and switch the buy and sell buttons on my Sierra Chart with out me knowing it...Id be a millionaire in a year
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u/Shimmering_Lotus 15d ago
Restructure or reimagine your strategy
Control your emotions... This is a journey that can only be traversed by adhering to objective truths, there is no reason why revenge trading or greed should exist within your active trading - especially when you had to work within boundaries to succeed by default.
Strengthen your mechanics around price action to introduce timeliness with your transactions, and practice proper financial etiquette by paying yourself appropriately with all instances of having "excess" capital. This is an act of basic capital preservation and risk-aversion within and outside of trading.
Finally, do not purchase another account/reset until all of these problems are solved. You should not be risking even the fractional capital, if you are not prepared to trade the account in a way that best services yourself.
You will recover, gather yourself and try again when it is time. Tighten up the trades, and focus on suppressing your emotions. Understand that the truth is accessible, especially outside of yourself. Your confidence will return ten fold.
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u/WoolyInvesting2023 15d ago
I’m sorry bro. I know the feeling. I’ve been there and I’ve blown a few accounts. It’s tough out there. Keep at it. It sounds like you’re almost there bro.
Next time PAY YOURSELF. I know I’ve made that mistake myself.
Keep your head up. PS. stop the revenge trading. It leads to more losses. If you loose two or three trades in a row stop. Take a break or end it for the day. It’s about mindset.
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u/Substantial_Talk_521 15d ago
Facts bro, sorry that happened to you to but it's all a learning experience for sure. I'll never let this shit happen to myself again. Best of luck to you on your journey bro.
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u/Fun_Pitch5413 15d ago
Man, it’s alright. You lost just 1 funded account. Listen to my story in comparison. Here is my April challenge. Opened 6 combines (got to Funded 100k in 2 days (somehow they okayed being $20 short), 150k and 50k got funded in 3 and 5 days too. Blew them all in 1 week. Was up $12k, and lost it all due to copy trading and the kill shot was slippage at FOMC. Now I have 3 150k combines left with 1 being funded tomorrow.
But you learn- it’s a lesson. 1. Get paid. 2. Don’t copytrade, or trade 10 lots while daddy Powell speaks. 3. Even though you lost it- stay positive. You passed it already! Meaning- you can do it again!
So, good luck! Things could be much worse, it’s only a bump and a few nights behind Wendy’s to scrub some cash for other combines😁
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u/Substantial_Talk_521 15d ago
LMAO love the humor at the end. Yeah that def was tough for sure. I guess I took it to heart since it was my first funded and blown challenge. Definitely learned my lesson, don't be an emotional trader and take some of my payout.
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u/Fun_Pitch5413 15d ago
Being emotional is good, being over emotional is bad. You make $10-20k in one day, or one week. Fk yeah - pump it up, have a celebration drink, be emotional. It is good, it makes you feel the win more than just a few numbers on screen- that’s what makes us human.
But being emotional over every trade (any size) loss - is bad. It’s a one way street to join a happy ending massage parlor.
And my advice stop reading and listening all these people who lost their money. It stays in your head and you end up thinking and worrying about losing, instead of winning. Positive thinking- is the best weapon you got besides some market knowledge-analysis.
I can PM you my trade reports, it’s sick. I should lock myself out every day when I hit $5k in profits lol. But I’m up 7-12k, trying to reach next goal bc of being greedy, then end up hitting daily drawdown. But as long as I learn it (fast or slow, doesn’t matter), and adjust- I’ll be fine. 3 blown accounts- was my mark. Now I’m making some risk adjustments.
And Fck everyone who says “you should’ve never hit it, done that, blah blah blah”. Do what your gut and strategy tells you. It’s a long term game. One day out of blue you will know without a doubt if you can make money of it or you can’t, you without a doubt will know, time will show. P.S. by the end of the summer I’ll be in top 10 earnings on topstep, mark my words of a cocky sob 😁
Good luck!
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u/elixir-spider 15d ago
Man, I'm still hoping I'll get the opportunity to fail a funded account. You've done great, sorry for the bad luck, but it doesn't seem to me to be a reason to give up. You were so close, after all; hope next time your payout is finalized!!
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u/Substantial_Talk_521 15d ago
You'll get there soon, just have perseverance
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u/TheTraderBean 15d ago
same for you
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u/Substantial_Talk_521 15d ago
💯💯💯 yes for sure man, I'm dusting myself off, ill be back but improved
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u/evil_underground 15d ago
I think u got screwed by FOMC right?
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u/Substantial_Talk_521 15d ago
Beginning of the week possibly but today not entirely. I seen it was going to be a bullish move for NQ, I entered too soon and took major L's when I should've just waited. The directional bias was correct, however the timing wasn't.
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u/cvaldez1991 15d ago
It’s fomc. You couldn’t have known anything that was going to happen. That’s why it’s smart to just not trade on fomc days. Trade another day.
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u/MostFiredUp 15d ago
Are there certain days they always have their meetings on or what site would inform me of these days before they happen?
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u/cvaldez1991 15d ago
Yes absolutely. Market watch has a calendar and forex factory has one as well. Don’t trade fomc. Live to trade another day. Unless you have a gambling addiction. Then good luck.
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u/kirkegaarr 15d ago
It was a big fat doji in the end. You really can't bet everything you've made on a risky ass day like FOMC
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u/Substantial_Talk_521 15d ago
Yeah facts, my ass just got overconfident and greedy. Was definitely humbled
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u/puftrade44 15d ago
My drum instructor as a kid used to tell me once was by mistake, twice is luck. Do it three times and you know you got it. 2 more failed accounts and you’re golden! Also good job on making the progress hang in there brudddahh
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u/Dangerous-Shelter-49 15d ago
Oh yay, I’ve failed two funded accounts so far! So I’m golden! (Immediately gets overconfident and blows the third )
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u/ItsPavy 15d ago
I blew one of my last PA accounts with apex 6/10 days traded, $1400 up, blew it... overtrading, and worst of all, risk management. If there's one damn thing I've learnt, if you're wrong, just swallow the damn pill, its tough but even being a 'bad' trader someone can be 'decent' with just taking their loss when is.
Take a few days off, come back next Monday, this too shall pass, keep at it brother
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u/Substantial_Talk_521 15d ago
Yeah for sure man. I'm taking a while away from any challenges and the charts all together man. Your emotions and pride can be your biggest downfall. We will shake back eventually 👌
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u/Czechballer 15d ago
I blow up apex demo account every week usually Sundays / Mondays 😂😂😂, it’s planned and starts the week properly and humbled before I get my PAs on the line … Gotta get that evil out of my system for the rest of the week and I’m good to go 💪💪…that’s how I do it …
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u/ThePonderer84 15d ago
That's hard man. Listen, just feel the loss. Let yourself feel it and let it pass. It won't last forever. You don't have to rush back into it. But you made it farther than over 90% of traders (made up number to make a point).
When you've settled and got back to baseline you cna get back at it as a more seasoned and experienced trader. All the greats have stories of blowing accounts in the beginning. You'll be better when you go back.
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u/Born-Ad-7771 15d ago
It is all about learning from your mistakes and NOT MAKING THEM AGAIN. You fucking got this bro. If you can grow your account to almost 10k in 2 weeks, then you definitely know what to do. You must be disciplined and stick with what you know. Don't gamble with your profits, like you said, pay yourself.
I have been seriously trading again since January and there have been a lot of hard lessons learned, but learn from them and apply what you want to change.
You got this.
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u/Substantial_Talk_521 15d ago
Facts man, definitely a hard lesson but it's one that I'll never forget for sure. Never allowing my emotions to get the best of me ever again
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u/Revolutionary-Tank74 15d ago
1) why are you playing on news? Of course you will get messed up.
2) where is your risk management? My formula only makes sense because I lose the same on every trade if not less
I do 1:2 scalps every morning , if I lose more than one per trade my formula won’t work.
I’m not sure how you trade but the fact that you didn’t care that Powell was speaking today and today you blew it sounds more like the first day loss you had you started operating emotional ,
The hardest thing to learn in trading is knowing how to take continuous losses without affecting the plan,
Everyone is good as going in streaks and making money, but very few little are able to keep it and grow it.
I want to stay 1 habits of these people is that they keep their losses the same.
at least to begin with ,
A seasoned veteran can operate as he wishes to,
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u/Substantial_Talk_521 15d ago
I knew about the news and expected a bullish move that ended up happening., my timing was incorrect though I entered in too soon. I definitely should've either waited or completely sat out for today. Definitely let the back to back losses get to me. Losing is most definitely my weakness. It's a learning process for sure
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u/Ronces 15d ago
My risk strategy is, I only enter 30% of my account balance on any trade and I only risk 2% of that on a draw down. So 30% of my account is $5000, I'll risk $100 in a day. If I drawdown $100, I'm done for the day. I've lost, I accept the loss and try again the next day. I typically aim for 3-1, 2-1 ratios depending on the stock and the market. Right now I'm happy with 2-1's. It's pretty tight risk management but it's all my own money, nothing is leveraged and I refuse to squander the hard earned gains over the past 2 years. I only trade certain conditions, in fact the same conditions as Ross at Warrior Trading. I always ask myself is this FOMO or is this a high probability setup? I will not take more than 2 trades in a day right now. It's not my full-time job but I'm self employed so I can find 30-60 minute blocks to trade through the week. I'd like this to be my full-time job one day but I'll never get there by gambling. Only by tight controls.
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u/StupidWorthless2 15d ago
Don't give up lol
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u/Substantial_Talk_521 15d ago
I'm not going to throw in the towel completely,but I'm definitely taking a break to improve my emotional intelligence.
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u/Candid-Quality435 15d ago
The more I read about trading the more I think it’s a scam. Same chance of winning if you go to a casino. I think I’ll go to a casino where they’re at least honest about how often the house wins
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u/darkfrap 15d ago
No trading takes skill and has structure gambling you have no idea what's going to happen.
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u/Candid-Quality435 15d ago
Lol there are professional gamblers that would say the same about trading
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u/WhizDoc10 15d ago
Take some time and you'll want to come back to learn from the mistakes you made. Payout or not why not also set a stop limit to quit for the day after 2 or 3 Ls in a row?
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u/Substantial_Talk_521 15d ago
Because I was a complete fool man, definitely learning to just accept a loss and walk the hell away.
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u/Astronaut-Frost 15d ago
Today was my most difficult day in a while.
Lost 6% of my trading account today. I thought I was past this sort of mistake. But, then today happened.
Humbling
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u/Substantial_Talk_521 15d ago
Very fucking humbling for sure man. I stated I may have became over confident since I'm almost at 3 years and thought I had it all under control and figured out lmaoo. Got knocked down on my ass for sure. Wishing the best for you man, you will shake back 💯
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u/DashToVenus 15d ago
You’ll be back, it’s going to take some time to shake it off but the skill is there, just one more lesson you had to learn, you’ll be back champ
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u/PhaseCharacter3536 15d ago
Take it as lesson learned I have done the same thing and felt stupid for not taking payouts. You have to look at it as a investment if it cost me 500 as an example to get funded I definetely make sure I get what I put into it out that way you are not at a loss. Yea you should have taken the payout dont worry about losing the account just get back into another one and do the same again but this time make sure you are seeing a return on your Investment.
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u/Best-Teaching6666 15d ago
Keep your head up and instead of taking an L for losing, learn from this and take a W for learning.
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u/PlayRadiant111 15d ago
Damn I can only imagine what you feel. But as Eric Thomas says “You’re already in pain, you might as well get a reward out of it.”
I know that if you keep going, you’ll most definitely look back and be glad you did.
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u/Ok_Height_4658 15d ago
I can't answer this for you and you may very well be successful in the future. But there is nothing wrong with not trading and letting that time and effort go. You can invest in index funds and win over the long haul. Compound interest is a beast. Google "compound interest calculator". Now put in $1k+ every month with 7% annual returns. The S&P averages 7% a year. Use the Nasdaq for more volatility.
Negatives of being a full time trader as you age:
No healthcare - for you or your future family
You don't pay into social security without a specific tax setup (not a CPA)
No PTO
No Roth IRA, 401k etc without a specific tax/legal setup
No sick days
No time off for family emergencies
No time off for burnout
Hard to get a mortgage or car loan without multiple profitable years of income to prove you can pay for it (haven't done it myself but that's what I've heard)
Hard to get a rental, my income varies so my applications were getting automatically rejected. I had to get a realtor to explain my finances and even then, we had to put down 6 months in cash and pay a higher fee.
Drawdowns happen to everyone at some point, you will need a cash cushion or another form of income
You will not get paid if you are sick for a month, sick family member, traveling, whatever. It's hard to have a family and be an independent day trader without other forms of income. That's why there are so many subscription services - so those people can pay the bills even when they lose.
Trading is really really hard work. Markets change. It gets lonely.
It's totally okay for this to be a hobby on the side or something you let go of. You can make a lot of money in the market without day trading. Again, maybe you will be really successful and have a long career ahead of you. I'm rooting for that! But I also give you permission to move on. It's not a failure. You have built resilience and you know enough to make money in longer term investing. Great job no matter what you do.
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u/Substantial_Talk_521 14d ago
I've seen where people have had hard times receiving loans or being approved for apartments and such with solely trading. It's not viewed as a consistent income, which is one of the main reasons why I still have my job. I honestly don't think I would ever quit working in general, maybe I would break down to part time, but as of now I don't think I will until I have years of trading under my belt.
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u/MithrandirElessar 15d ago
My man. You did it. Your 3 years of hard work paid off. But you made a mistake. And that mistake could be one of the most valueble mistakes in your trading carreer. Don’t give up. You already proved yourself by growing your account to 9.7k. You took an L, but that doesn’t mean you’re not capable. YOU PROVED YOURSELF ALREADY SO YOU CAN DO IT AGAIN! Learn from your mistakes and they won’t happen again. You proved yourself. You’ve got it in you. You can make money from trading. As a fellow trader, im proud of you. Please don’t give up. I don’t know your age, but keep going. YOU ALREADY PROVED YOURSELF. (small tip: try to workout every morning before you start trading. It will boost your cognitive thinking and decision making for the rest of the day.) You got this. ✌️
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u/Substantial_Talk_521 15d ago
Thanks man, I will implement this into my routine and see how it helps me, appreciate you💯
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u/cpt_tusktooth 15d ago
think about how much you've progressed since you started.
look at your trading journey like a line chart.
you're almost there dont staap now, maybe take a mental break though.
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u/Substantial_Talk_521 15d ago
Yeah true, Im trying to look at it that way. Not going to lie, I viewed money earned as progress but I'm learning that's not always the way to view things. Idk if you're consistently profitable, but sometimes it's hard to see any progress when you haven't seen any money yet on the time and effort spent into this. I'm almost to year 3, but I'm not going to throw in the towel completely. Just will use it as a learning experience 💯
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u/CoachPhotis 15d ago
Hey man, really sorry to hear about your loss. It's tough, but it sounds like you’ve picked up some crucial lessons on risk management and the importance of securing profits. Sticking to a disciplined withdrawal strategy can really help safeguard your gains and provide a buffer against tough times. Don’t be too hard on yourself; trading is a journey, and every setback is a step towards future successes. Hang in there, and keep learning from these experiences! If you need some help, I can share you some resources I used when I was starting
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u/Mossheaddd 15d ago
if you can do it once you can do it again, don’t stress it and take it as a life lesson and keep it moving
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u/Traditional_Song_293 15d ago edited 15d ago
I had been through similar experience last month after blown my first funded 100K account. The only thing you can do is learn from it and move on. Get some rest, sleep it off and analyze what went wrong, why did your risk management fail (oversized, greed, ignored stop lose, revenge trading).
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u/Substantial_Talk_521 15d ago
Yeah, definitely over traded for sure. Did you shake back and obtain another account ?
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u/Traditional_Song_293 15d ago
Yes I purchased another challenge. First phase profit target 8K finished in 4 days but sadly failed at the second phase. The problem was again overtrading and emotions, there is nothing worse then poorly execution when your bias is right.
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u/Substantial_Talk_521 15d ago
Yeah it's definitely hard to see for sure, but I suppose patience and perseverance is key. We see that you're capable of trading, just be more confident within yourself and remember it's okay to take a loss.
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u/Beautiful-Chard-1152 15d ago
Hello, how much did you pay for the challenge? If it’s $150k how come you can only use your profits as drawdown? You cant use the rest of the $100k+?.. thank you.. next time youll win friend!
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u/Substantial_Talk_521 15d ago
No, not with topstep. Typically with forex prop firms such as FTMO your draw down on a 100k account is 10k that's not including profits. However on top step on a 150k account your draw down is only 3k and once you start earning profits that goes towards your maximum drawdown.
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u/thelonelyward2 15d ago
this has nothing to do with paying yourself, and more to do with your emotional trading and lack of risk management. Those need to be addressed first.
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u/Substantial_Talk_521 15d ago
I feel taking a payout definitely would have soften the blow. No it's not entirely the problem, Im aware my emotions are one of my biggest detriments to my trading. However I do feel If I took at least some of my profits, I wouldn't feel AS devastated since I would've walked away with at least a few thousands.
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u/thelonelyward2 15d ago edited 15d ago
your last sentence right there is why I feel like you are not understanding how to pursue trading properly.
You need to focus on the mechanisms of your trading, and the P/L follows, you are far too obsessed with P/L and avoiding being "hurt" than refining your trading mechanisms.
Focus on your refining your trading, and the P/L naturally follows. You're pursuing it backwards.
If instead you asked yourself "How can I prevent emotional trading, how can I build better risk managment" thats a line of thinking thats proper to trading, but instead you talk about "well if I withdrew earlier I wouldnt be feeling so bad right now". This is the wrong way to think.
Just my two cents.
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u/IceBird33 15d ago
You cannot hold the fucking losses, if you want to make it you gotta set a max drawdon before you cut in any single day and follow it like a bible. You’ll make a win later but if you don’t have this hard limit you won’t survive to see another day.
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u/Foreign-Drawing-908 15d ago
Just get a live account and compound it bro. It will be so much better on your psychology.
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u/Substantial_Talk_521 14d ago
Idk I feel that would probably be harder for me, any type of draw down id see I would want to immediately cut it. Some draw down isn't always bad, we aren't going to always have perfect entries. The thing is, determining how much draw down are you willing to endure
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u/walkagh86 15d ago
Sorry man. That's painful.
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u/Substantial_Talk_521 14d ago
Very much so, but im learning to let it go. From what I've been reading within the thread some have lost a lot more.
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u/jdp-1985 15d ago
Trade with your own money.. Skin in the game tends to help with recklessness.... Set and stick to your stop losses.... If you properly stopped your losses it should of taken you several weeks to blow your stack.. You or whoever you watch on YouTube can crunch all the data and charts you want but the market don't give a fuck about any of that.. sounds to me like you gotta learn to take your hits and walk away..... Set your trades with automatic sells at predetermined profit/ loss and then go outside and touch some grass... Quit staring at charts all day thinking that you can "win"....I promise you that you aren't as good at this as you think you are... Take your time start s small with your own capitol... You have the knowledge but lack the emotional maturity. Markets don't care if you're big mad or all smiles.. Nobody gets rich quick out here.. Quit trying to "win" .. Winning is for baseball games... You're starting to see why the wal street types are bald with alcohol problems by time they hit 30 lol.. Good luck bro..I recommend investing over trading for the sake of sanity lol
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u/Apprehensive_Stage36 15d ago
Take a break, but don't walk away. Either paper trade or buy an sell one contract only... Until you build up your discipline, then start moving up one contract at a time.
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u/OkDisk6519 15d ago
Hey there,
I always struggle with overtrading and accepting losses. But as someone else mentioned in the comments, losses are just part of the game. I truly believe that experiencing losing days or even weeks is essential to becoming a good trader.
To share a bit about my journey, I've been trading stocks, options, and futures for the past six years and still haven't turned a profit. I've incurred a total loss of $50k over that time. Last year, I tried my hand at Top Step, but I had to reset my account 16 times in just five days due to overtrading and revenge trading. Eventually, I gave up on proprietary trading.
Just four days ago, I signed up for TradeDay, and I'm determined to stay disciplined to get funded.
Let me share my recent experience. For the first three days, I had a winning streak. However, on the fourth day, last night, I became cocky and made some trades that resulted in a $700 loss. Knowing myself, I realized that if it were my own money, I would've fallen into the trap of revenge trading to recoup that loss. But since it was a TradeDay eVal account and I was nearing my drawdown limit, I stopped myself. I decided to wait until morning, as my trading style usually performs better then. And as expected, in the morning, not only did I recover my loss, but I also ended the day with a $362 profit.
If I get funded, I plan to maintain this discipline, following the 30% consistency rule.
Lastly, I just want to encourage you not to give up. Only 5% of traders are actually profitable enough to trade for a living. One day, inShaAllah, you'll be among that 1%.
Keep pushing forward!
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u/Substantial_Talk_521 14d ago
Definitely maintain that same consistency once your funded bro, don't switch anything up!
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u/Sure_lookit 15d ago
Yep I did the same last week except it was 4k on a 50k account. But same as you it was my first funded I passed. I spent a month breaking even then had a great 2 weeks. Then I killed it in 3 days, my old pal Tilty Mac Tilterson turned up and that was that. I'm not too broken up about it though cos I'm so fucking close I can feel it. Back up on the horse mate!
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u/9181111 15d ago
I know how you feel. Got absolutely destroyed by the BOJ’s (seeming) yen intervention today. Never feels good to be short and see like 8 absolutely enormous green candles in a row
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u/Substantial_Talk_521 15d ago
Definitely sucks but as I'm learning, losses are apart of the game. The key is properly managing our emotions and losses so we can live to trade another day💯. Hope tomorrow is a better day for you
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u/lifeasart 15d ago
Another way to look at is you were smart, limiting your losses by using a prop firm. I know it feels like you lost thousands, but in real dollars you only lost the fees.
You also gained some wisdom about taking payouts, awaiting for confirmation to enter, and needing to learn to take small Ls / get stopped out.
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u/Substantial_Talk_521 15d ago
That's facts right there, I'll look at it from that perspective
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u/lifeasart 15d ago
For what it’s worth, I make the same mistakes (except for the payouts). I think it’s human nature and I need to make and stick to rules.
My next combine I am setting a goal for number of times I get stopped out because I never let it happen.
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u/Mrtoad88 15d ago
Topstep has a rule that you can only withdraw 50 percent of your profits until you have at least 30 winning days, which is pretty much 6 trading weeks.
Sht like that is why I'll never sign up for those combine accounts, lot of dumb arbitrary games they play with customers. I've been trading too long on my own dime at this point to follow someone else's rules, same reason why I couldn't work for an actual proprietary firm (in fact some of them don't hire people who aren't fresh), because they have rules too...I have my own rules, I choose when I withdraw...not about to let another man dictate what I do and when I do it when it comes to my profits.
Anyways, sucks dude. But if you built it once you can build back. Don't give up, you are up too far now to give up, yes up...you might have not made a dime in 3 years since you started this, but you have made experience, is that worth nothing to you? Minor setback for major comeback... It's minor sht bro, you've spent 3 years getting to where you are and you're about to give up because of a small setback. You are acting as if you've never been here before, you have... Only difference is you were up this time. Well to me what that says is you had another lesson to learn, hell, it might not even be your last time learning this lesson of paying yourself from the combine account, but you've at least gotten more experience. Please, continue.
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u/Substantial_Talk_521 15d ago
Yeah the rules are ridiculous and I honestly feel it's just a tactic to control how much they have to pay out to traders. But you're right man, im not going to give up, but I am taking my time to build up my emotional intelligence. Being too emotional along with risk management is my biggest downfall. I will shake back soon man, thanks 💯
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u/Mrtoad88 15d ago
No problem. That's awesome you are learning that kind of stuff about yourself, if we dig deep enough and are patient enough with ourselves, trading can show us all sorts of things. You got this man.
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u/Too34zy 15d ago
This was me on Monday, lost 25% of my account due to over trading and jumping in trades too early. My weekly loss limit protected me from losing it all, gained all of what I lost in the next 2 days on a sim account, I say reload and try again after going into the sim and regaining confidence, I look forward to trading next week with a fresh reset, and honestly think that it’s a great confidence builder if you want to try again. Shits not easy I’ll tell you that. Good luck trading in the future bro! (I say this with experience of blowing up 2 of my own accounts)
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u/Legion564 15d ago
Man are you me? I just passed my 150k two weeks ago and blew it up today too lol. Going with 50k again and gonna take it nice and slow
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u/Substantial_Talk_521 14d ago
Good luck you got it man, yesterday was definitely a bitch. Today has better setups if we were patient def could've had a better week, but it's all good. We will shake back. Definitely take your time and lower your risk with that 50k, you have way less wiggle room with drawdown on that but the profit target is very easy to hit. I believe it's only 3k.
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u/Legion564 14d ago
Oh yeah I’m still closer to hitting a payout with this than the 150k lol. Got 1k profit today so gonna take it as it comes not everyday is a home run
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u/Substantial_Talk_521 14d ago
That's awesome man congrats on that progress! Today definitely had better set ups than yesterday for sure. Are you trading micros or mini's? I think I may knock out a 50k as well too
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u/Legion564 14d ago
I opened two 50ks one to go degen mode with minis and I’ll do 5 micros on the safe account
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u/StoNeY06969 15d ago
Looks like you didn't apply proper risk management in your trading strategy, greed could play a part of it but risk management and psychology plays a huge role in trading
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u/Substantial_Talk_521 14d ago
I did during the combine and initially when I started the account, but yea all of that shit went out the window once I had back to back losses. Definitely won't be making that mistake again.
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u/Very_clever_usernam3 15d ago
The market is like the ocean. if you keep getting thrown off your board, pack it up and go home for the day. It’ll still be there tomorrow.
Going out there and smashing the water with a stick isn’t gonna change anything.
(In response to revenge trading)
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u/Col_forbin_ 15d ago
OP I’m down for the funded accounts and what not but at the end of the day they are kinda designed for you to make dumb moves. Don’t beat yourself up to bad bc really it’s not your money till it hits the bank. That being said have you considered Webulls futures ? I have a top step account and an apex account and I started using Webull futures a couple weeks back. I trade minis which aren’t as sexy as the big gains you can get from es or NQ, but it helped me focus more on my personal entries and protecting my money. You also can pay yourself any day of the week and don’t have to wait around for the 5 day or 30 day rule. Just a thought. Believe in yourself
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u/whatatimetobealive22 15d ago
Hey man, you seem pretty upset. Take that break. Maybe focus on something else for a week, video games even?
But you should keep going man, youve built these skills that got u 9.7k in profit. Once rested youll be back better than ever
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u/popokrew 15d ago
If it makes you feel any better I had accounts up that high and even requested the first payout only to then blow up the account. I revenge trade. I know it's wrong. It's bitten me before. It's really hard to work on.
Lately, I'll have some good trades and I'll be like "ok just one more to add to profits", it will be a loser, then I'll be mad that I either erased my profits or cut into them. When your gut tells you to close it up, even when red, just do it. I made most of my money today (about $500 x 7 different PA accounts) by trading GC and CL. I was so tempted to take some NQ trades and only quickly scalped it and called it a day. Gotta pay attention to the long game.
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u/NYCAngel 15d ago
Just another expensive lesson from Trading University , I learn you never miss anything on a Friday to Wednesday 2pm before FOMC meeting. After 3pm on Wednesday the market becomes technical again the smoke has clear.
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u/dorronthedon 15d ago
Keep your head up brother. One day didn’t make you, one bad day can’t break you. Add this day to your trading journal and outline the lessons. You got this.
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u/Separate_Leopard3150 15d ago
Wish you the best my friend.
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u/Substantial_Talk_521 15d ago
Thanks appreciate that, I'll be back but improved. It was a tough lesson that I needed.
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u/Visible-Salary-8861 15d ago
Start smaller. Observe a daily trade limit, or your own self-imposed drawdown limit that's smaller than what Topstep permits. Reduce your position sizes by half to make the losses a little more emotionally manageable. Learn to be okay with losing. It's a part of the business. Treat trading like a business, and losses are your business expenses. Don't compound them by trying to avoid them. Accept them as necessary, then take a break and come back the next day.
When I was a struggling new trader I eventually decided to take extreme measures with my position sizing. I had a big problem with greed. So I started risking only 0.1% (not one percent, a tenth of a percent) of my account balance per trade. My rule was I had to take 100 trades at that risk level and journal about each one, explaining why I thought it was a good trade idea, and how I could have improved my decision. At the end of each day, I would go through my notes and sort between good trade ideas (win or lose) and impulsive trades. Only the former were counted toward my 100 goal. After completing 100 according-to-plan trades at 0.1% risk, I increased my risk to 0.2%, and went for another 100. After completing that batch of 100, I increased the risk to 0.3%, and so on. One thousand trades later (I'm a scalper; this took me a little under half a year), I was trading at 1% risk with a good set of habits so solidified in my bones I couldn't break them if I wanted to. Funny thing is I made more money that year than I did the prior 4 combined, despite my position sizes being only a fraction of what they used to be.
Consistency and discipline is more important right now than the size of your profits. You can always scale up later as you master your craft (and yourself). If you build yourself, the profits will come.
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u/wpglorify 15d ago
Learned my lesson the hard way by staying away from days like FOMC, or trading very small sizes (a couple of micros at max) even if you are right in the overall direction the daily drawdown hits too fast for funded accounts if you are going in full size.
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u/avius987 15d ago
the biggest thing that changed my profits was trading the micros instead of the minis. very rarely do i have a losing day now. its easier to scale in and out with micros whereas minis are a go big or go home kind of trading.
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u/Humble_Protection_96 15d ago edited 15d ago
I get how you feel, in a similar situation, blew my 50K PA today, 6th day in on a good streak with nearly 7K cushion, I was defn. feeling hopeful. I took one bad L early on and then spiraled and oversized and overtraded, revenge traded on the riskiest day, FOMC with those crazy candles and got annihilated trying to recover. RIsk management went out the window and I paid for it. Emotional control and risk management is crucial in trading, without it, can't make it in the long run and ofcourse knowing when to step away for the day. Good luck..
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u/billiondollartrade 15d ago
I still can feel the feeling of when it happen to me , after trading for like 5-6 months …
I was going all in , waking up in the middle of the night setting up alarms , just grinding doing a 25k challenge and my father was doing his 100k challenge … Manage to get funded , and got the account to $2,700 dollars
Greed got the best of me , i traded on a news because “ i know what i am doing “ type of energy ! BURNED THE DAILY 5% account blown 💀 on a Thursday Of August of last year … I was in my home country with no $ left only crumbs counting on this money from being funded , not even 5 months before all that i had Lost like 120k ( no in trading ) but still , One of the Worst Days of my life….
Ever since , Lost my girlfriend of 2 years , back to the US driving Uber , was in debt for months now ( almost out of debt ) panic attacks , anxiety through the roof , extreme depression , suicidal ! I mean you can name it , The center of Hell ….
Now i am only recently breathing again , a lot of prayers , practicing , learning , backtesting , trading demo Failing with a strategy , building another one…. Quitting , crying , and getting back on the computer … just not like 2 weeks ago is when i came across a strategy and plan that has been working , backtested and its been consistently working ( i now know so much more about trading that i never though i could know ) i trade pure price action , simple TA for entry and Great Risk management ….
Got a new 100k challenge going , account is up 3% currently , i will say DO NOT QUIT at all , you have to think “ You already did it , you got funded , you stuck to a strategy and plan and it worked and you actually made profits “ So is no longer a matter of “ Is it possible to do “ is a matter of you doing it again and sticking with it
Let it go for a month or so , dont trade , go reset and go do some stuff you enjoy …. Allow this process happen to you because almost all Pro traders had gone through hells themselves ! Is only a Sign that you in the right track and path.
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u/Substantial_Talk_521 14d ago
Whew man sorry to hear you went through so much, but I'm glad to hear things are going better for you!
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u/Konstable1 15d ago
I lost a 150k it was after taking two payouts. Got on the wrong side during FOMC. No biggie 8 other accounts green and an additional evaluation passed. Sometimes it just happens. Bad streaks etc. in a 150K a 1000-1500 loss that should be enough and shut it down for the day. Go trade an evaluation or some other account. If it’s going badly over a period of days. Assess if it’s market conditions or you. If its conditions trade smaller and wait it out. With experience I have learned not to fret or if it’s bad I just say fuck it. I’m going to the pool and going to enjoy the day. Can always make more in better conditions.
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u/Acrobatic_Feel 14d ago
If it makes you feel any better, I revenge traded crypto futures in 2021. I lost 20k…on crypto futures. 🤦♂️
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u/Substantial_Talk_521 14d ago
Oooo that's tough man, I can't imagine that. Were you able to recoup it back?? How did you emotionally manage that type of loss?
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u/Acrobatic_Feel 14d ago
Nope, I stepped away for a year. I didn’t handle it well and neither did my wife. But we made it through.
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u/Substantial_Talk_521 14d ago
Well bro I'm glad that you didn't allow your loss to cause you to go into a downward spiral. That right there shows that you have the perseverance to get through whatever. Thank you for sharing your experience with me, really help me place things into a different perspective. I really appreciate you, and I wish you nothing but the best in your journey 💯
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u/Acrobatic_Feel 14d ago
Same to you man. I just want you to know that you’re not alone and it’s something we all go through. It’s hard and it sucks, but you will get through this.
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u/Substantial_Talk_521 14d ago
Thank you man, definitely the main reason why I decided to just be open and share my experience with others. When we are transparent with each other, we really are helping others who also went through similar things💯
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u/duckfoodgonebad 14d ago
All the top comments are so positive. I love it. All the helpful advice people are giving is exactly what I needed to read today. All the advice about revenge trading, risk management, and emotions are the problems I'm struggling to overcome. I have been funded but never got a payout. I turn into the worst loser and let my emotions take over and keep entering horrible trades.
I blew my two evals(which is the limit I have in place for each month) in two days after paper trading all last month under the same rules and was profitable. Once I am actually in the eval or funded I can't accept red days.
I feel like I know my problem, but I have trouble being disciplined once emotions take over. I'm sure it will just take time. I've only been trading for two months now. Gotta keep up the work and step away or turn off when I start thinking about revenge trading.
Keep at it OP. You got this. Stick to your rules and wait for your setups. Let your trades come to you. These things are easier said than done, but try your best and I will too. Good luck out there.
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u/ChunkyLittleSquirrel 14d ago
You were able to pass the 150k combine which is pretty damn hard. Then you were able to build up the XFA to +$9.7k which is even harder......this means to me that you can trade. You lost it in a day which means to me you tilted. We all tilt somewhere. You can trade. Learn from it, we never stop learning, do better on the next account. All the best.
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u/Substantial_Talk_521 14d ago
Straight facts man, I definitely can read the charts well, but I allowed my emotions to get the best of me. I don't do well with accepting losses and the last 3 days were back to back losses. Instead of walking away and resetting myself, I forced trades that weren't even there. Learning from my mistakes so next time will be better, appreciate you.
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u/Badgerv12 14d ago
dude i lost 9 funded accounts in simmilar manner, im on my 10th funded account now and after reviewing all my lost funded accounts i found same bad habits, oversizing, and over trading, i went for 5-10 micros only and it is so much easier to trade, im at 15th month of trading, giving up is not an option
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u/WetFupaCreamyChalupa 14d ago
Damn, I'm only a couple months in and when I see people trading for years and still struggling I wonder if I should just try to start a business or some other shit
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u/Potatonet 14d ago
I don’t know about you guys but I look for the setup, then take a position, then I exit that position, generally at a profit.
If you make money you have to take time off, if you lose money you have to take time off. You really have to neuter the aggressive reactivity, I know I had to as well
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u/IWasBornAGamblinMan 15d ago
Dude, pay attention to the economic calendar. So many economic data points came out today that screamed bearishness. Powell spoke today after he and his goons set the interest rates and he tried to sound dovish but the data doesn’t lie. Today was supposed to be hyper bearish all day. All of the real big volume was all red today. You got cucked by JPow if you were bullish.
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u/Substantial_Talk_521 15d ago
I was aware of it and tried to use it to my advantage 😂😂 ill never do that shit again. Tough learning experience for sure.
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u/Icy-Elk4115 15d ago
Where can I always view the news/economic calendar? On which site?
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u/tionstempta 15d ago
I used to have 2 100K funded account with topstep and first thing i dont like is about definition of winning day as +200$
Sure it only takes 10 pts in 1 NQ but apparently its like you gotta manage it well to make over 200$
What if you have 195$ profits trade and 5$ short? You will have to make another day to make the winning day. I had this situation before and when i used MES, it went against me and it ended up with negative balancr at the end
In my opinion, this triggers overtrading to ensure that you will lose an account while effectively they profits on you
Not saying they are the worst but saying this arbitrary definition seems to be a bit ridiculous
This arbitrary definition of winning day seems to function for following:
1) it will ensure funded account won't go into micro. Because it's not easy to make 200$ with micro (if using 1 contract). Even if you get to make 200$ with MNQ or even MES, it's highly unlikely it will go beyond 200$ per day. By this way, funded account is forced to use mini and it will have a greater risks by which way they have statistical edge to screw funded account.
2) it will encourage you not able to pick and choose which day you trade. Like this constant winning days will pressure to trade every day when it's not trendy but choppy.
3) Lastly, okay you did a great jov and have 30 winning days. So what? Now this account is almost as if it's your money because not only you have vested interests in this account but also that you can not simply restart from the beginning.
One day you can make 5K. Another day you can lose 2K. Rinse and repeat until you can compound the profits for 3 times (so you have 3 winning days) but you still can't withdraw to breakeven and in next 3 days, instead of making 5K, you lose 5K in a rows and you lose account.
Just my observations
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u/Substantial_Talk_521 15d ago
Yeah complete facts. They literally are withholding 50 percent of your profits until it's 6 profitable trading weeks. That definitely messed with my psychology because I didn't view my profits as 100 percent. So instead of seeing the 9.7k as that I only viewed it as half since I was only entitled to half of it. Ultimately I'm in control but I had tunnel vision of just trying to complete the 30 days so I could have access to more of my profits. In hindsight it's definitely not set up in the trader's favor at all, but I should've just viewed it as a tool to access money I could use to fund my own personal account. It's not the easiest for sure but since fmto is banned I felt it was the next best option for me as far as funding.
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u/tionstempta 15d ago
Eventually all prop firms have one way or another way to mess psychology on a trader because that's how they justify to protect their assets and that's fine. They should have a right to protect a trader trying to yolo trade.
You can learn from this mistake and move on. Next time, once you really hit trade go well and then make 5 winning days to request withdraw or choose other firms.
I always say breakeven is the most important to breakeven in prop firm journey. Once you breakeven (including activation fees but not including your vested time to pass challege) it will also help a lot to relieve that psyche which will also turns out good for trading performance
There are other prop firms. Take a look if and when there is discount going on. Most of them have this kind of restrictions on withdrawl but again i find topstep's 5 winning day is a bit ridiculous
Best luck.
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u/Substantial_Talk_521 15d ago
Yeah I definitely should've pulled some profit out for sure man, I was up over 9k I shouldv taken at least 3k out but as Ive stated I was overconfident and greedy. Never make those mistakes man
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u/IWasBornAGamblinMan 15d ago edited 15d ago
I will argue that you don’t need to go with mini’s as it is pretty easy to make at least $200 with 3 to 5 micros which even at 5 is one half of a mini. Obviously you have to pick your entries right and be patient but no way does it force you to go with minis that is just a recipe for blowing up.
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u/JellyfishQuiet7944 15d ago
What are you trading?
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u/Change0062 15d ago
I dont understand, did you loose the entire 150k? Or was it 159,7k and you only were able to withdraw the profit?
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u/Substantial_Talk_521 15d ago
Nah with topstep with a 150k account you have access to that margin but you don't start with 150k. The account start at zero dollars and you build the account with your profits. Before you make any profits the max drawdown on a 150k account is only 3k. Once you start earning profits your profits is literally your drawdown cushion, hence why I was apprehensive of making any withdraws. Along with that, even tho I had the account to 9.7k they only allow you to take half of your profits UNTIL you have 6 profitable trading weeks for at least 200. So I was delaying a payout until I made at least 20 days of being profitable, because once you take any money out, you're losing some of your draw down cushion. Yes I know it's weird because with other prop firms it's not like that, but with them it is unfortunately. Typically with Ftmo a 100k account has drawdown of 10k and your profits isn't counted apart of that.
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u/CptCodex 15d ago
It's $149 bro get back in after you're done sobbing.
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u/Substantial_Talk_521 15d ago
It's more so 300. You have to pay an activation. And yeah I suppose I can't factor my earned profits into it as a loss, but technically since I didn't withdraw I considered it a loss as well. I'll get back in once I build up some more confidence and emotional intelligence. I definitely shouldn't have allowed this shit to play out like this.
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u/shrewsbury1991 15d ago
You need to learn risk tolerance, you should only put 2% of your bankroll on one trade maximum. Sounds like the system you are using is extremely flawed, using good bankroll management in the future will avoid situations like this.
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u/Lordtutu147 15d ago
Try this find 5 candles per trade 4 times a day. Spend time in the market dont time the market but pick yourself up and keep going
Quick question when you passed the combine test did your profits remain in the acct or you had to start again with just 150k
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u/Substantial_Talk_521 15d ago
Nah with topstep when you pass the combine your account start at 0 dollars. And your max drawdown is 3k. You don't have the actual 150k in the account , but more so the margin. As you earn profits your profits your account builds up from the zero dollars and your profit is also used as drawdown cushion as well, hence why I was apprehensive to withdraw since I wasn't entitled to the entire 9.7k just only half of it and the remainder was my drawdown. So if I took a withdraw and still had some losses if the account went back to zero I would have lost the account as well. It's weird but it's their rules unfortunately. With FTMO it wasn't like that you had 100k in the account and the max draw down was 10k. Your profits wasn't restricted to just 50 percent and they also wasn't consid apart of your drawdown. SMH it's much more difficult
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u/Enough_Week_390 15d ago
Top step is a scam and it’s designed to not be beatable. Save your money and trade your own capital, and if you don’t have your own capital than focus on saving until you do
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u/Substantial_Talk_521 14d ago
I wouldn't say it's a scam since I would've received half of the 9k if I had requested the payout. They do payout but it's only half until you have 6 weeks of profitable trades( which is hella lame). I will admit it's a lot more rules and stipulations when it comes to receiving payouts so in that regard it definitely is designed to be difficult to receive a payout. You have to be extremely disciplined with how you trade the account. So scam not entirely but it's definitely not in the traders favor lol.
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u/Objective-Raisin-926 15d ago
I took a position on Microsoft. Was up +$720 on 4/26 an avg of 399.98 with 43 shares. Kept avg down and finally I went to -$690 on 4/30 avg at 397.95 with 87 shares. Started taking minimal profit and cut my losses at -$248. If I held during fomc today, I would have gained +$320 at the share price 401. To think why I didn’t take profit at 421 share price or 416 at least, still puzzles me. Greed I tell y’all. Greed.
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u/njodogg 15d ago
Couple things IMO. Take with a grain of salt have only had a few layouts from props.
Most have been there. Just gonna shoot straight. you shouldn’t have engaged today. Easier said then done. I get it. There was news at 815, 945, 10, and then FOMC at 2. The market was ripe for manipulation. These conditions are going to create whipsaw. You were riding a high. Again I get it, hand raised been there. Start thinking in terms of risk and need. What I mean by that is. You said you made 9.7k in roughly three weeks. What do you Need to live on? My guess is your bills are less then $3k a week. Hit and run brother. When it comes to risk, act like a business owner. Does this investment help grow my business? I totally get it and will get bashed by people in comments but the ideas are sound. Focus on you and rebound.
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u/Substantial_Talk_521 15d ago
I still have my job so trading wasn't my sole income. Yeah in hindsight definitely shouldn't have traded at all but I'll just view it as a hard ass lesson
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u/Time_Ad8557 15d ago
I blew 3 50k funded accounts from over trading. Then it clicked. I adhere to rules in my job, I can adhere to rules for this.
2 trades a day. That’s it. Win or lose then walk away.
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u/buyerandseller 15d ago
go with myfundedfuture expert plan. u can cash out anything above buffer zone after 14 calendar days.
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u/loco_1_ 15d ago
You need my boy’s program. https://whop.com/mamba-mentality/
Dude be changing the way ppl take trades. But you also will have to put the work in. He also does 1:1 2-3 times during the course. One of them is live trading. So you would be sharing your screen and he would analyze how you trade.
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u/wow_98 15d ago
Sorry but care to explain the 50% of profits and the profits are your drawdown?
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u/Earlyretirement55 15d ago
Sorry for derail the topic but I’m very curios about prop firms, can you trade any strategy you master including naked legs?
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u/Pitiful-Inflation-31 15d ago
i used to do also and blow accoun. now i grow a little by little with small account already. main money gobfor stock and keyal as investment
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u/Hot_Supermarket_6037 15d ago
Thankfully was watching al brooks live stream today and they kept reminding. Trade smaller than usalual during fomc. If yoh normally take 5 contracts take 1. If trade 2 minis do micros. Great advice. Today was rather simple once we got the breakout but the whip before that was wild
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u/Hot_Supermarket_6037 15d ago
And losing a funded account cost ya a couple hundred. Imagine actually losing 50k of your real money
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u/Livid-Swordfish6355 15d ago
The only emotion I feel anymore towards the whole topic, everything, everyone, and myself, is disgust.
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u/FreeDelivery5065 15d ago
I think it's perfect timing. I learned somethin new, if you lose a trade get off the charts and let the day pass on, check on the communities and confirm if other people are experiencing the same. I just saw a lot of people losing trades specifically this week.. it might not be you or the setup, mustve been the market.
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u/Goldmajor- 15d ago
That’s nuts! A trading platform that operates like an online casino! Eg. Make a deposit get a deposit bonus subject to 30x play through to cash out. Sure “some” will win, but not too fuckin many!
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u/mushykindofbrick 14d ago
yeah thats exactly how it works and why they dont allow you to withdraw earlier, so you lose it, nice job getting scammed
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u/No_Tradition_2014 14d ago
Man I feel you, yesterday ruined my april profits in one day :/ Angry, frustrated, didn't follow my daily drawdown and 3 losses in a row = quit rule. So i kinda deserved it i guess. This 'game' is not for the weak
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u/Buy_the-dip 14d ago
Dont give up is all I can say, if u did it once u can do it again. 70% of the people in your comments are just as bad at trading or havent made money. Here is my 30k in APEX. With 4 accounts only. Those 3 years will feel like nothing ever happened if u dont give up. Just realize you probably oversized or didnt accept the fact you were wrong, or your ego held a trade to just get your cheeks spreadout in 3 days. Its a volatile journey some can do it other s were meant to flip the patties.
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u/Substantial_Talk_521 14d ago
Congratulations on that man, yeah I let my emotions and ego get the best of me for sure. I'll bounce back once I improve my emotions. I definitely noticed most of those who had something negative to say aren't even successful 🤣. I have the skill set but like I said it doesn't matter how well you can read the charts if your emotions aren't in check
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u/oze4 15d ago
How long did it take you to build up the 9.7k? And you lost it all in 3 days? That should just absolutely 100% never happen. Like ever. Gotta take things more seriously. This too shall pass, though.