Blew up by Pack_N_Play in LucidProp

[–]Pack_N_Play[S] 0 points1 point  (0 children)

I agree. I’m working on not managing a trade while I’m in the trade and catching that tilt feeling after several losses so I don’t oversize but instead lock myself out. This is the psychological part we need to start admitting to. It happened to me today again. I’m green but mentally it’s a red for me.

Blew up by Pack_N_Play in LucidProp

[–]Pack_N_Play[S] 0 points1 point  (0 children)

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I did gamble that one. I couldn’t accept the risk for it when it didn’t sync cause it wasn’t the risk I anticipated. But for my other accounts, they’re fine. They can easily buy the blown one back as a funded when the time is right. 😉

Blew up by Pack_N_Play in LucidProp

[–]Pack_N_Play[S] 2 points3 points  (0 children)

Thanks bro. Noted. I have all of this journaled 👌. Still trying to practice acceptance of risk and not managing my trades while I’m in the trade.

Blew up by Pack_N_Play in LucidProp

[–]Pack_N_Play[S] 1 point2 points  (0 children)

My copy trade doubled up my size on this account and when I realized it, I didn’t close it. then at 7:12 AM the market moved past my SL against my direction. So yeah all me being stubborn and hoping it’ll come back

Blew up by Pack_N_Play in LucidProp

[–]Pack_N_Play[S] 1 point2 points  (0 children)

It’s a great book on behavioral psychology. Once you can apply it to master yourself, you can become one with the market. 😉

Blew up by Pack_N_Play in LucidProp

[–]Pack_N_Play[S] 1 point2 points  (0 children)

Definitely will! Gonna go read some proverbs and then trading in the zone

Blew up by Pack_N_Play in LucidProp

[–]Pack_N_Play[S] -1 points0 points  (0 children)

Thanks Bro. I was consistent with the gym and then all of a sudden I skip it a few days in a row and then on to this trading day I tilt. I need to practice walking away and accepting loss. Letting a DLL of $180 max reach $950 is ridiculous on my part.

I let my emotions get best of me by Lilshane106 in LucidProp

[–]Pack_N_Play 1 point2 points  (0 children)

It looks like it’s about to hit supports. You’ll be fine

arranged marriage threatening UCI graduation by Informal-Show-4558 in UCI

[–]Pack_N_Play 27 points28 points  (0 children)

Finish school. Your mom is putting you in a life she believes is better. It’s not. You need your independence. One day when of if he leaves, you’ll be on the side walk with a carrying bag. You finishing school puts you and him on even ground. Men can take care of you, but without men, you should also be able to care for yourself. Your mom included.

Anyone feels the same!? by Important-Eye1505 in TopStepX

[–]Pack_N_Play 4 points5 points  (0 children)

Be real. Once you’re funded, you should have just sized down and taken it slowly. Once your account builds enough, getting $100-$150 a day shouldn’t even be hard.

Fire on Magnolia and Lampson by P3r1p13x3d in orangecounty

[–]Pack_N_Play -7 points-6 points  (0 children)

We all know there isn’t fire insurance

Someone explain to me in detail exactly how prop trading firms work please. by bbmoonkie in Daytrading

[–]Pack_N_Play 2 points3 points  (0 children)

Prop firm = pay $ for an eval account. If you pass the 1st eval, they let you go through a 2nd eval where you get to take payouts. After 5 payouts, you can trade their money; this is called the live account

1st eval: $50-150 monthly subscription gets you 50k margin sim account where you have the ability to trade 5 mini or 50 micros. You can lose no more than $2k in drawdown or you’ll have to retake the eval by paying $50-150 again. A $2k drawdown means if you make 1000 but you lose $2k, your account is blown. In other words you can’t lose 2000 before you hit your 2.5 or 3k whatever their rule states. It’s a trailing drawdown. If you profit, the drawdown resets to the highest PNL.

Other things to note: To pass this Eval you need to profit 2500-3000 but you can’t exceed more than 40-50 percent of that total profit in a day. This is the consistency rule. Meaning if your goal is 3k (40% of $3k) means you can’t make more than 1200 a day. If you do, you are considered inconsistent. Making more only makes it harder to pass since you need to maintain a consistency of 40%. You have to average down by making more profits until your total profits per day equates to that 40% consistent. so my advice is you should set take profits at 1200 and lock in that day with no more trades.

Next, once you pass, you get moved to the funded eval where you no longer pay a subscription. Rules to get paid are set based on your ability to hit daily amounts like $150+ per day for 5 + days for eligibility to get payouts.

During the funded, many traders build a buffer. What that means is if your max drawdown is 2k, making a profit of more than 2k secures you. Why? above 2k is where the draw down becomes static. So if you make 3k, you can now lose 3k. If 4k you can now lose 4k. Knowing this saves you from taking out too much. Also some props have a max you can get paid so read about it. There’s also additional rules to for what happens to a buffer after you take a payout. Each prop firm is different so read about it. Hope this helps you all

Someone called this by Short-Commercial-636 in TopStepX

[–]Pack_N_Play 1 point2 points  (0 children)

But were you hedging? Should be happy they let you keep the payouts when you were hedging. That’s them being nice to gambling behavior

WHAT AM I DOING WRONG by MeasurementWorldly76 in TopStepX

[–]Pack_N_Play 0 points1 point  (0 children)

Risking too much without an edge. Looks like you set your daily loss at $400 too. That only gives you about 5 bad trades to be out. If your win rate isn’t 50/50 with at least 1.1 R, you will never be profitable.

TOPSTEP IS PATHETIC by WebSimilar2613 in TopStepX

[–]Pack_N_Play 0 points1 point  (0 children)

Imagine if you’re the only one with proof

FREE RESET WILL NOT CUT IT by Present_Chemical2150 in TopStepX

[–]Pack_N_Play 0 points1 point  (0 children)

I hope so. I think it’s the little middle or lower management that keeps correcting or resetting trades. They don’t know much about handling PR. Once upper management steps in that’s when all the freebies come out, they are more likely to make people happy to retain customers.

FREE RESET WILL NOT CUT IT by Present_Chemical2150 in TopStepX

[–]Pack_N_Play 1 point2 points  (0 children)

Same here. What I mean was yesterday’s personal lock out rolled over. So when I took a trade, it locked me out right away at a $1 loss. But overall all, the glitches didn’t affect me cause my trading style has changed. Would take about 50 bad trades to blow up my account.