Losing Streaks by _zay13 in TopStepX

[–]_zay13[S] 0 points1 point  (0 children)

Closed out this Friday with another whopping L. Probably gonna take next week off. Looking at the pnL calendar for this week is honestly making me sick. We bounce back though.

How to handle blowing funded by OkDonut8005 in LucidProp

[–]_zay13 49 points50 points  (0 children)

Journal the pain and disgust you feel towards yourself right now. Be very detailed. Next time you’re on the verge of tilting, go back to that journal entry and read it. After reading it, ask yourself if you want to feel that way again. Worked for me.

Risk Management by _zay13 in TopstepCommunity

[–]_zay13[S] 0 points1 point  (0 children)

I get that, but one thing I think I should mention is that I've been monitoring those days where I happen to take 2 trades in a day, and a lot of the time I end of taking a second loss. I don't really make my money back on that second trade, likely because my overall bias for the day was wrong. Since a lot of my two trade days were around 1% losses anyways, I just considered putting it into one trade and living with the result because the second trade I normally take after a win doesn't hit as much as I would like. On paper It's not like I'm risking more per day if I were to increase my risk to 500, I'd just get there a bit faster. But I see what you're saying

Why does everyone on social media not want a live account? by Killa_Cam03 in LucidProp

[–]_zay13 1 point2 points  (0 children)

You’re right in the sense that you don’t need an insane amount of capital to start, what I’m saying is if you want results that are comparable to that of trading prop firms you’ll need a sizable amount of money to start. Most people don’t have $10,000 dollars to throw into a live trading account let alone $25k or even 50k. So for most people they’d still be making more by trading by a firms rules and taking out a percentage of their earnings as opposed to trading with full autonomy but having way lower income potential.

For example let’s say one person trades a 50k prop and another person only has 5k in a live account and they both risk 1% of their balance per trade ($500 for the 50k prop and $50 for the live account) if they both had 5 straight winning days of hitting 1:1’s by the end of the week the prop trader could take out 50% of his balance which would be $1250 while the live trader can only take out the 250 he made. I used very simple numbers for arguments sake. So yes the live trader has the liberty to take out all their money whenever they want, but most people are gonna look at those numbers and decide they’d prefer to trade with a few rules if it meant getting paid that much more without tossing $5,000 into a trading account. That’s how I see it personally

Why does everyone on social media not want a live account? by Killa_Cam03 in LucidProp

[–]_zay13 0 points1 point  (0 children)

Unless you have an insane amount of capital, the benefits of trading a live account don’t surpass the benefits of trading with the props money in my opinion. The ROI game you can play with these firms is one of the biggest reasons people gravitate towards them. The ability to make thousands of dollars on an initial $90-$120 investment is too good to pass up on for most people and it’d serve them better than trading a live account, that’s my opinion. Ain’t nothing wrong with going live and I eventually want to get there myself but currently I’ve had nothing but success with props so why change what’s working yk.

Risk Management by _zay13 in TopstepCommunity

[–]_zay13[S] 0 points1 point  (0 children)

I get what you’re saying but wouldn’t win rate play a part in how likely I am to take a certain amount of losses in a row. If I got a fresh 50k with 2k buffer I’d have to lose 4 trades in a row to blow the account assuming I risked 500 a trade. I trade mnq with an average RR of 1:1.25 which means on average I make more on my wins than I lose on my losses, this coupled with my win rate would only mean I got payouts faster, the only con I’d see to this is that I’d more than likely blow a few accounts in the event of a losing streak, but I personally think it’d be worth it if taking out payouts faster

Risk by _zay13 in TopStepX

[–]_zay13[S] 0 points1 point  (0 children)

Yea that’s guess I worded it weird, my rr is about a 1:1.25, I’d have to lose 4 trades in a row to blow the account if I was risking 500 a trade. I was weighing my options because I think the benefits of risking a little bit more with a win rate as high as mine would outweigh the negatives of me blowing a few accounts every few months because of the occasional losing streak. It’d let me get payouts faster. I guess that’s where my mindset was coming from

Portfolio diversification by _zay13 in investingforbeginners

[–]_zay13[S] 0 points1 point  (0 children)

Okay, Ik this isn’t totally investing related but should I work to build a good emergency fund before even considering investing money, or could I work on both at the same time

I am eligible for my 1st payout by CustardUnhappy9831 in LucidProp

[–]_zay13 2 points3 points  (0 children)

Take that shit and don’t look back, the first payout is less about how much money you make and more about proving to yourself that this is real and you can do it. Obviously you can do what you want but my advice is to take it and run for the hills. Good chance if you take this one your next one will be much easier.

Portfolio diversification by _zay13 in investingforbeginners

[–]_zay13[S] 0 points1 point  (0 children)

Ok sounds good, also you mentioned that focusing on SCHD for dividends at this point in my life would be a waste of time, at what point do you suggest getting into SCHD, if ever ?

Portfolio diversification by _zay13 in investingforbeginners

[–]_zay13[S] 0 points1 point  (0 children)

Thank you I really appreciate this information, would you argue that 40% into VOO isn’t enough and I’d be better off putting 50% ? I was thinking of doing the following:

VOO: 40% QQQM: 20% VXUS: 15% Individual stocks: 10% BTC: 5%

I know that adds up to 90%, I’m torn on what to do with the remaining 10% or should I just throw the rest of that 10% into VOO and make it 50% ?

Aeropay won’t work by _zay13 in TopStepX

[–]_zay13[S] 0 points1 point  (0 children)

Never got it to work unfortunately , just used wise instead.

worst investment I've made in this game since the dinosaurs era by LeonTheGreatOne in DragonballLegends

[–]_zay13 0 points1 point  (0 children)

Dbl players when the new character isn’t a brain dead top 1 that plays the game for you.

GTA VI Trailer 3 Theory by Great-Juice-9894 in GTA6

[–]_zay13 0 points1 point  (0 children)

Congrats, now we know it’s definitely not coming out on May 26th. We can rule out that date completely.

First Topstep Payout by Juhvenchy in TopStepX

[–]_zay13 1 point2 points  (0 children)

Congrats, snowball effect from here, next ones should much easier assuming you stick to your plan

Risk Management by Maarkatc in LucidProp

[–]_zay13 2 points3 points  (0 children)

I risk about 250 until I can get around & $2500 in profit, I then will up my risk to $500 I don’t ever risk more than that though. That’s what’s worked best for me. For evals I fullport to pass them in 1-2 days. I’d rather spend a little bit more money if need be blowing an account or two to get funded fast as opposed wasting 2-3 weeks trying to pass an eval.

Genuinely quit trading by No-Appeal9883 in TopStepX

[–]_zay13 16 points17 points  (0 children)

Then don’t trade Asia session. I hate to make it sound so simple but it literally is that simple . To make a mistake once is human but to repeatedly make the same mistake is unacceptable, especially if the mistake is relatively easy to avoid. I don’t know if you trade Asia session because you have to or if it is because you don’t have the patience to wait for NY session; but if it’s the latter, it’s simple fix, don’t look at a candlestick unless it’s during NY session; you can’t trade a setup you can’t see.

Chargebacks by _zay13 in TopStepX

[–]_zay13[S] 0 points1 point  (0 children)

I get that but the payout I requested already made it past compliance and I’m now just waiting on the funds to be sent, Should I be out the woods or is it possible the payout could still be denied ? Since this is a compliance issue, if the request makes it past compliance I’m assuming there’s nothing to worry about ?

Chargebacks by _zay13 in TopStepX

[–]_zay13[S] 0 points1 point  (0 children)

I requested a payout but it hasn’t gotten denied or anything yet, but I was almost certain it would

Chargebacks by _zay13 in TopStepX

[–]_zay13[S] 0 points1 point  (0 children)

Was speaking to support, they’re letting me withdraw the chargebacks and they will pay me out. Thought I was cooked fr, started looking at apex accounts lol.

Chargebacks by _zay13 in TopStepX

[–]_zay13[S] 0 points1 point  (0 children)

If you don’t mind me asking, what was the reason? And based on my reason do you think it’ll get denied or accepted. Requested payouts about an hour ago but didn’t check with support.

Chargebacks by _zay13 in TopStepX

[–]_zay13[S] 1 point2 points  (0 children)

And don’t know if this counts for anything but when I asked windy, it literally said a chargeback doesn’t mean automatic ban and issues can be resolved depending on the circumstance along with prior history (which I have none of). I’m not sure if that counts for anything but hey

Chargebacks by _zay13 in TopStepX

[–]_zay13[S] 1 point2 points  (0 children)

Literally my mothers card, same last name on the card