April Monthly Recap | My Worst Month in a Long Time — Transcript

Full transcript

1. 0:00All right, so we are just ending April.
2. 0:03Today is the last day of April and April
3. 0:07was probably my worst trading month in a
4. 0:10very long time.
5. 0:14I'm going to talk about it. So, what's
6. 0:15up? It's Thrax. We're back for a monthly
7. 0:17recap and unfortunately, we're going to
8. 0:19be doing a monthly recap today that I
9. 0:21kind of don't even really want to do,
10. 0:23but it is really important that I
11. 0:26actually make this video because we're
12. 0:29going to jump into just look at the
13. 0:31numbers, okay? This is on this hurts my
14. 0:34heart to look at, okay?
15. 0:38This month,
16. 0:40I only pulled two payouts
17. 0:44and I spent a [ __ ] ton
18. 0:47on fees. And after you take the fees
19. 0:50away from the payouts, it leaves me
20. 0:53being net positive before taxes on the
21. 0:56month $808.
22. 1:02It's pathetic, dude.
23. 1:04Like it hurts my heart. It hurts my
24. 1:06heart. April was just April kicked my
25. 1:09ass. I'm going to be real. Like in the
26. 1:11beginning of the month, okay? We came
27. 1:14into the month, it really wasn't a
28. 1:16terrible situation. I had some funded
29. 1:19accounts early on in the month. I was
30. 1:21able to pull about 32, 35 in payouts.
31. 1:24This is after split. So, I began using
32. 1:28some of that money to try and scale and
33. 1:31get more funded accounts. Now, what
34. 1:34ended up happening is typically what
35. 1:37happens when I purchase prop firm
36. 1:38accounts and then I go and pass the pass
37. 1:40the accounts or I blow the accounts, on
38. 1:43average, I'm typically floating around
39. 1:45like a 60% pay to pass rate. Now, this
40. 1:51month, and I keep [snorts] track of it,
41. 1:53this month dropped dramatically,
42. 1:57dramatically. My pass rate for me
43. 2:01purchasing accounts literally got
44. 2:03chopped at the knees and I was passing
45. 2:06only about 30% of the accounts that I
46. 2:09actually purchased. And then another
47. 2:11problem was there was about three or
48. 2:13four times this month that I was in a
49. 2:16funded account that I had a balance. One
50. 2:19of the times I was actually eligible for
51. 2:21a payout and I blew that account trying
52. 2:23to get a bigger payout. Another time and
53. 2:26all the other times, I was like on the
54. 2:29fifth day trying to get a bigger balance
55. 2:32and it ended up causing me to blow the
56. 2:36accounts. And so, now here we are at the
57. 2:38end of the month, I only took two
58. 2:40payouts this month
59. 2:42and I spent way too much in fees.
60. 2:45Spent way too much in fees.
61. 2:47And now we're sitting here
62. 2:50with only $808 made before taxes. After
63. 2:53taxes, I mean like you can look at this
64. 2:56and be like, well, at least you're net
65. 2:58positive, you know, but let's be real.
66. 3:01It's not really fair to call this I
67. 3:05mean, we're going to call it a net po- a
68. 3:06net positive month just for just for my
69. 3:09sake, just because I'm
70. 3:11going to keep my street going of not I
71. 3:13mean, it's it's it's it's the system
72. 3:14that I have to make sure I don't
73. 3:16actually lose money to prop firms, but
74. 3:18pretty much it's a break-even month.
75. 3:20It's it's better to just call it a
76. 3:22break-even month, but at the end of the
77. 3:23day, we didn't lose money to the firms,
78. 3:25but it's still I wouldn't really say
79. 3:28it's fair to call it a positive month.
80. 3:30It's kind of break-even. You know,
81. 3:31someone might look at this and they
82. 3:32might be like, well, you took payouts
83. 3:35and you made some money, but at the end
84. 3:37of the day and if you guys watch my
85. 3:39content, this is like terrible for me. I
86. 3:43mean, I'm blessed I didn't lose any
87. 3:45money, but it's because of the system
88. 3:47that I use where I just manage the
89. 3:48bankroll from the payouts to make sure
90. 3:50that I don't go net negative, but it's
91. 3:52just like it's just not what I'm used to
92. 3:54doing. And it was just incredibly
93. 3:57frustrating this month. Now, let's take
94. 3:59a quick break to tell you about the
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114. 4:36match. Now, let's get back into the
115. 4:38video. This month exposed like a lot of
116. 4:42weaknesses for me. When I was live
117. 4:44streaming, especially this month, that
118. 4:47it began to like negatively affect my
119. 4:51execution because I was hesitating on
120. 4:54good setups because people were watching
121. 4:57me. It's not in the sense like I've been
122. 4:59live streaming now for a little while,
123. 5:00ever since the beginning of the year, so
124. 5:02I've gotten used to it, but I just kind
125. 5:05of got in my head about the fact that I
126. 5:07tell people not to copy trade me, but
127. 5:10let's all be real, people are going to
128. 5:11copy trade me. You know, it's one thing
129. 5:13if I lose money, but I start to feel
130. 5:15certain way when, you know, let's say
131. 5:18I'm not in the best mental state in
132. 5:20terms of trading, right? And conditions
133. 5:23aren't very helpful with the way that I
134. 5:26trade because the way that April panned
135. 5:28out, a lot of the days for the way that
136. 5:30I trade my system, it should have been
137. 5:33no trade days. Like a lot of no trade
138. 5:36days. There were a lot of setups that
139. 5:38just didn't happen. I mean, we had an
140. 5:40entire week this month where we
141. 5:42literally pumped and didn't pull back
142. 5:46at all. And so, with the way that I
143. 5:48trade, it's like well, those days
144. 5:53are past days. I shouldn't even be
145. 5:54really trading those because it doesn't
146. 5:56align with the way that I trade. But
147. 5:58yet, on those types of days or those
148. 6:00slower sessions, because I'm streaming
149. 6:02and because it's happening over and over
150. 6:04and over,
151. 6:05I began to just kind of like force
152. 6:08trades because I don't want the stream
153. 6:10to be boring, but it's totally
154. 6:13unacceptable.
155. 6:15Content doesn't come
156. 6:17it does it's not more important than
157. 6:21trading itself because at the end of the
158. 6:22day,
159. 6:23what am I doing, right? I'm a trader. I
160. 6:25trade. I'm not a content creator
161. 6:27necessarily. I mean, I make content for
162. 6:29you guys, right? And I and I want to
163. 6:31make videos that can help people out and
164. 6:33kind of,
165. 6:34you know, share information and be a
166. 6:36useful resource for the community, but
167. 6:38at the end of the day, I need a trade. I
168. 6:39need a trade. So, like I I even, you
169. 6:43know, basically
170. 6:45told the Discord, well, first of all, I
171. 6:47don't charge anybody to like watch me
172. 6:49trade or whatever. I don't do that. I
173. 6:51know people do that, but I live stream
174. 6:55on YouTube. I live stream on Discord,
175. 6:56right?
176. 6:58So,
177. 6:59when I realized kind of what was
178. 7:01happening and how it was kind of
179. 7:03affecting my execution, well, then I got
180. 7:04to take a step back for a second because
181. 7:06I can't let that spiral off into
182. 7:08something that that gets worse. And you
183. 7:11know, to be fair, like I said, April
184. 7:13conditions were kind of weird. We had a
185. 7:16lot of slow grinds up and a lot of
186. 7:20choppy New York openings, but I'm not
187. 7:24blaming market conditions because you
188. 7:26know what what happens is is that when
189. 7:29people say like, "Oh, market conditions
190. 7:31are trash or PA is trash." Well, then
191. 7:34don't trade it. You know what I mean?
192. 7:35Like don't trade it because what bad
193. 7:37environments or, you know, trash PA does
194. 7:41is are and it's all relative to however
195. 7:44you it's it's subjective to however you
196. 7:46believe, you know, price action is.
197. 7:51If you're saying that if the environment
198. 7:53is bad or the PA is trash, then what
199. 7:57that does is it just exposes weak
200. 8:00discipline. No one's forcing you to
201. 8:03trade conditions that aren't favorable
202. 8:05for the way that you trade, right? Your
203. 8:06strategy or your framework, right? And
204. 8:09so, that's not an excuse and anyone who
205. 8:11uses that as an excuse is just trying to
206. 8:15take the blame away from themselves,
207. 8:16which is not what you should be doing in
208. 8:18terms of being a consistent trader,
209. 8:21right? Because at the end of the day, no
210. 8:23one is forcing you to press buy or sell.
211. 8:26If you watch market conditions and you
212. 8:28identify that we're having a pattern of
213. 8:32price action that's not favorable for
214. 8:35your framework or strategy, then don't
215. 8:37trade. If I wasn't live streaming, and
216. 8:40this is I'm really like kind of
217. 8:42frustrated that I did this, but if I
218. 8:43wasn't live streaming or like trying to
219. 8:46make content or do these different
220. 8:48things, a lot of these days I probably
221. 8:50would have just slept in. You know what
222. 8:52I mean? Like like when it comes to my
223. 8:54strategy, right? A lot of the times when
224. 8:57we have a very large overnight range,
225. 8:59I'm expecting New York open to kind of
226. 9:01be on a little bit of BS. Now, this
227. 9:04month, we've been having a lot of very
228. 9:08large overnight ranges. Asian London
229. 9:11have very clean price action that makes
230. 9:13a very nice move and then heading into
231. 9:16New York open, we sit in positive gaming
232. 9:18environment, we chop off the open, we
233. 9:20break call wall, and then we have a slow
234. 9:21grind up.
235. 9:23That was kind of the pattern that I
236. 9:24witnessed happen over and over and over
237. 9:26and over again this month. And so,
238. 9:29trading my framework, those are
239. 9:31hands-off type of days. But what did I
240. 9:33do? Well,
241. 9:35I'm trying to make content. I'm trying
242. 9:36to live stream. I'm trying to
243. 9:38blah blah blah blah blah. So, I'm
244. 9:39forcing stuff that I really shouldn't be
245. 9:41forcing, so I had to shut that down.
246. 9:43What I had to do this month, which kind
247. 9:46of sucked, but I had to kind of go into
248. 9:49like protection mode, right? Kind of be
249. 9:52on the defense rather than the offense
250. 9:54because at the end of the day, I don't
251. 9:55want to lose money. I don't I don't wake
252. 9:57up every morning at at 5:00 a.m. West
253. 10:00Coast and, you know, prepare for my day
254. 10:04to just lose money trading. I mean, I
255. 10:07I did that. I did that for years.
256. 10:09I don't want to do that anymore.
257. 10:12So, I had to protect capital. I had to
258. 10:14make sure I wasn't going to lose money
259. 10:15because
260. 10:17I just need to follow my system in terms
261. 10:19of bankroll managing prop firms
262. 10:21that doesn't allow me to go net
263. 10:23negative. So, as you can see, we're only
264. 10:26up $808. If you keep buying prop firm
265. 10:28accounts, that's going to fly really
266. 10:31quickly, especially if my pass rate
267. 10:33right now is sitting about a 30% for
268. 10:34this month. That's terrible. And
269. 10:37protecting that type of capital and
270. 10:38making sure I don't lose money, it
271. 10:40matters more
272. 10:42than ego. So, what I had to do is I had
273. 10:45to step back from live streaming for a
274. 10:46bit. Now, I don't know how long that's
275. 10:48going to last, but
276. 10:50to be completely honest with you guys,
277. 10:52like I'm still making content. I'm still
278. 10:53trying to make educational content, but
279. 10:57I do need to focus on my execution. And
280. 11:00I need to rebuild the funded inventory
281. 11:04because I really don't have any funded
282. 11:05accounts right now. Like I'm heading
283. 11:06into May in a pretty dangerous situation
284. 11:10and
285. 11:11it's because I don't have any funded
286. 11:13accounts to then get a payout. I'm going
287. 11:15to have to start in the hole, but it's
288. 11:16okay. I'm not too worried about it.
289. 11:18But I need to tighten trade frequency. I
290. 11:21need to just pass on the days that I
291. 11:23know I should be passing on and not just
292. 11:25forcing stuff for content or forcing
293. 11:27stuff for a live stream or whatever,
294. 11:29right? I would rather take fewer A+
295. 11:32setups than force trades for content.
296. 11:37It's really what it comes down to right
297. 11:38now. This month kind of bruised my ego.
298. 11:41Kind of hurt, to be honest. I mean, this
299. 11:43year so far, I have about like almost
300. 11:46$50,000 in payouts that I've taken since
301. 11:49the beginning of January. So, I mean,
302. 11:52we're 4 months in,
303. 11:54you know, on average, I'm averaging you
304. 11:57know,
305. 11:58like five figures in payouts a month,
306. 12:00lower five figures in payouts a month,
307. 12:02right?
308. 12:03So, having a month where I I only get
309. 12:06three grand in payouts and then a net
310. 12:09positive P&L, money in money out with
311. 12:11the firms of like $800,
312. 12:14I mean, it sucks, dude.
313. 12:16It sucks. So, I I just I can't let it
314. 12:19get to me because trading isn't this
315. 12:21like linear thing, right? Where you are
316. 12:24going to have bad months. There are
317. 12:25going to be months that just don't align
318. 12:27well with the way that I trade. It's
319. 12:28just how it is. There's conditions
320. 12:29change. But and I and I didn't really
321. 12:32want to make this video because bro, I'm
322. 12:34just like broadcasting like a shitty
323. 12:37month to like the internet or whatever,
324. 12:38but
325. 12:40I'd rather show you guys the real
326. 12:42journey. And it's kind of what I've been
327. 12:43doing this entire time, right? I'd
328. 12:45rather show you guys the real journey
329. 12:47than try to paint this facade of oh, I'm
330. 12:52like the best trader ever and all I do
331. 12:54is pull payouts. No, I have bad I have
332. 12:56bad months, you know? I have bad days. I
333. 12:58blow accounts. I I do stuff that I
334. 13:00probably all all you guys do. So, I'm
335. 13:03just going to have to suck it up,
336. 13:06stop being a [ __ ]
337. 13:08stop being a little [ __ ] and just
338. 13:10rebuild in May. Now, just because we're
339. 13:12going into a a new month, okay?
340. 13:17You know, you always hear people be
341. 13:18like, "I hope price action's better in
342. 13:20May. I hope price action's better next
343. 13:23month or new month, what's look at the
344. 13:25new price action." That's not really how
345. 13:27it works. Just because it's a new month
346. 13:29doesn't mean that, you know, market
347. 13:31goes, "All right,
348. 13:33reset. Like, we're going to have brand
349. 13:36new price action." No. So, I am going to
350. 13:39have to go into May being careful and
351. 13:43focus on building, but following the
352. 13:46system and not forcing things. So, yeah.
353. 13:49I mean, I don't want I don't necessarily
354. 13:50want you guys to, you know, watch this
355. 13:53video and be like, "Dude, [ __ ] this guy.
356. 13:56He's, you know, he took payouts this
357. 13:58month and he's over here having a
358. 13:59[ __ ] pity party and [ __ ] you know?"
359. 14:01That's not kind of what the purpose of
360. 14:03this video was. I just It's important to
361. 14:06note, right? That just not every month
362. 14:09is a great month and I got to show these
363. 14:12types of months. Yes, I'm net positive,
364. 14:14technically. I'm really break even, but
365. 14:16I'm net positive because I follow a
366. 14:18system that I use with prop firms to not
367. 14:21go net negative, to not lose money to
368. 14:23the firms. Just because you lose money,
369. 14:26you don't lose money to the firms,
370. 14:28doesn't mean that you're making any
371. 14:29money, right? I mean, for a while I've
372. 14:31been making some money, right? But yeah,
373. 14:33this month kind of sucked. Now, albeit,
374. 14:36this tech I'm going to count this. I
375. 14:38don't care what anyone says. I'm going
376. 14:40to count this as the 13th month in a row
377. 14:43that I haven't lost money to prop firms.
378. 14:45Sorry. I know it's not a lot, but I'm
379. 14:47still going to count it. Yeah, rough
380. 14:49month, dude. And I've been seeing a lot
381. 14:51of other traders say they had a rough
382. 14:52rough month. I've seen other traders
383. 14:54have a great month, but at the end of
384. 14:55the day, like who cares about what other
385. 14:57traders are doing? It's really just
386. 14:58about what you're doing.
387. 15:00And what I was doing just wasn't it. It
388. 15:02just wasn't it. So, we're not going to
389. 15:04let one bad month determine what's going
390. 15:06to happen the rest of the year. We're
391. 15:08going to learn from this month, package
392. 15:11it up,
393. 15:12put it away,
394. 15:14and we're going to focus on doing better
395. 15:17next month. So, yeah, kind of a
396. 15:21kind of a wag video, but it is what it
397. 15:23is. It's got to happen.
398. 15:26It's got to be made. It's got to be
399. 15:27shown. I will catch you guys next time I
400. 15:29trade. Peace.