Daily recap | PnL: +$1,977 | 1W and 1L on the funded accounts — Transcript

Full transcript

1. 0:00All right, what's up? It's Thrax. Let's
2. 0:01go over a daily recap of what happened
3. 0:03today. We'll go over the outlook and
4. 0:05then how we actually executed on the
5. 0:06plan that we had. So, today is July
6. 0:0922nd. I am going to start doing more of
7. 0:11these. I think they could probably be
8. 0:13pretty helpful. Now, what I messaged out
9. 0:16to the Discord, free Discord by the way,
10. 0:18if you ever want to see these, all you
11. 0:19got to do is click the link in the
12. 0:20description below and join the free
13. 0:22community. I said, "After yesterday's
14. 0:24strength into the close, sellers ended
15. 0:26up stepping back in during the overnight
16. 0:28and they pushed price lower." We'll take
17. 0:29a look at it in a moment. And at the
18. 0:31time of writing this, they were
19. 0:33currently digging back into the pump
20. 0:36from Asia that happened yesterday. At
21. 0:38the open and really all day, we were
22. 0:40sitting in a negative gamma environment.
23. 0:42Now, I do not believe or I did not
24. 0:44believe at the time that the overnight
25. 0:46session was telling us that sellers have
26. 0:47full control yet. And I'll kind of
27. 0:49explain why in a moment. So, for the
28. 0:52upside, we were really looking at a very
29. 0:54key decision zone for today. We were
30. 0:56looking at where P1 for Tanuki Trade was
31. 0:58sitting, which was around that 29,980,
32. 1:02but I was making it more of a zone. So,
33. 1:03980 to 940. And if buyers are able to
34. 1:07defend and hold that area, then I would
35. 1:09be looking for price to push back up
36. 1:11into where internal highs were sitting,
37. 1:13as well as the middle of Asia's range.
38. 1:15In the event that we were to lose that
39. 1:18area, that 940 area, I'm expecting us to
40. 1:21have a potential deeper drop into the
41. 1:23880, the 800s, where I'm going to be
42. 1:26watching to see if we have any type of
43. 1:27responsive buying activity. And if we
44. 1:30see sustained selling pressure below
45. 1:32that, then the idea for longs this
46. 1:34morning is off the table. Because at
47. 1:36that point, we can actually be coming
48. 1:37down to test Asia lows or target Asia
49. 1:41lows that was sitting around 28,706.
50. 1:44So, this morning,
51. 1:46what I was looking at as I was writing
52. 1:48this out, we had some type of Trump news
53. 1:50about uh
54. 1:52you know, the war in the Strait of
55. 1:53Hormuz or whatever it was.
56. 1:55And we wicked down pretty aggressively
57. 1:57into this area I was watching. We
58. 1:59immediately rejected out of it. So at
59. 2:01that point, prior to market open, I'm
60. 2:04kind of expecting us to come back up.
61. 2:06Now, if this level, this was the key
62. 2:08decision area for the day, if this level
63. 2:10holds, then we're coming back up. We're
64. 2:11coming towards the middle Asia's range,
65. 2:13potentially even towards the HVL. In the
66. 2:15event that this level did not hold, then
67. 2:18I was expecting a deeper drop and
68. 2:19potentially to Asia lows if we didn't
69. 2:22have any type of responsive buying
70. 2:23activity in here. Now, in terms of gamma
71. 2:26with Tanuki's platform, here is the put
72. 2:29wall at the morning that was sitting at
73. 2:30that 980 area. And then we had net put
74. 2:34volume, put volume in absolute open
75. 2:35interest sitting right below it at
76. 2:3728,940. So I treated this more so as a
77. 2:39zone. Now, we're in a negative gamma
78. 2:41environment. We are sitting or right
79. 2:44above the put wall prior to the open.
80. 2:46Now, let's take a quick break to tell
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101. 3:25get back into the video. Now, I hopped
102. 3:27on PropFirmMatch's stream today,
103. 3:29and what ended up happening is I'm
104. 3:32waiting to try and get in for longs.
105. 3:34Because we are premarket, what are we
106. 3:37doing? Well, we held the area that I was
107. 3:39looking for us to hold. We start making
108. 3:41our move up. Market is opening right
109. 3:43here, so I'm sitting here thinking to
110. 3:45myself that I'm looking for potential
111. 3:47longs. So the ideal scenario in this
112. 3:50case would be for the 5-minute to open
113. 3:52up at the open for us to push down
114. 3:54aggressively to have failure of sellers
115. 3:57and to start flipping back bullish to
116. 3:58then go long to target these internal
117. 4:00highs and make our way over into the
118. 4:03middle of Asia's range. Now,
119. 4:04unfortunately, what ended up happening
120. 4:07is we ended up pushing up immediately
121. 4:09off the open and where I ended up
122. 4:11getting into the trade to go long was
123. 4:14right here. Now, why did I get into the
124. 4:16trade right here? Now, at the time, this
125. 4:19is the area right here. We open up, we
126. 4:21immediately push up. We see buying
127. 4:23activity and for a certain moment in
128. 4:25time, once we take right before we were
129. 4:28about to take these internal highs, we
130. 4:30were watching buyers actually struggle.
131. 4:32But, what's more important about
132. 4:34watching buyers struggle is we were
133. 4:36watching the sellers struggle to push
134. 4:38down as well. Now, why do I care more
135. 4:41about seller failure than the buyers
136. 4:43struggling? If we were to go look at
137. 4:45this on a higher time frame and I've
138. 4:47been talking about this in the Discord,
139. 4:49what are we doing here?
140. 4:51We are ranging sideways. And more
141. 4:53importantly, what did we do on Friday?
142. 4:55Well, on Friday, we ended up trying to
143. 4:59break out of the range, failing to break
144. 5:01out of the range, and popping back up
145. 5:02into the range. Now,
146. 5:04regardless of higher time frame, lower
147. 5:06time frame, if we are ranging and we
148. 5:09have a failed breakout, where are we
149. 5:11likely headed to? Inside the range.
150. 5:13Well, if you notice what we've been
151. 5:15doing, we have been mean reverting this
152. 5:17entire time. If we have a failure down
153. 5:19here, we may be making our way up to go
154. 5:21back to potentially the middle of the
155. 5:23range for a mean reversion style or mean
156. 5:26reversion behavior for the higher time
157. 5:28frames. So, I'm looking for us to come
158. 5:31up. I already have a long bias. So, what
159. 5:34do we actually see? When we were looking
160. 5:36at this same area here on the delta
161. 5:40profile for these candles, I'm watching
162. 5:43that we're struggling here. We see all
163. 5:44this aggression at the top of these
164. 5:45candles and we're struggling to get
165. 5:48price progression with it. Now, it is
166. 5:51concerning, so I'm waiting here. I'm
167. 5:52waiting to see what happens, but every
168. 5:54single time we push down and we get any
169. 5:56type of aggression from sellers, it's
170. 5:59really just getting eaten up. It's not
171. 6:00going anywhere. It's not very strong and
172. 6:03we still have targets to the upside.
173. 6:05Now, this candle pushes down, we have
174. 6:07strong selling aggression at the extreme
175. 6:09of this candle and we respect the
176. 6:11opening candles POC or the 5-minute POC
177. 6:14and then we close back bullish. I'm
178. 6:16still waiting. The same thing happens.
179. 6:18This candle opens up, it immediately
180. 6:19pushes down, we come back up and we
181. 6:22close bullish.
182. 6:23Now, this candle right here is the
183. 6:25candle that I was watching, these two
184. 6:27candles. Now, we see us coming up, we we
185. 6:30aggressively push above internal highs
186. 6:33here and we start coming back down. Now,
187. 6:35I'm watching at this point to see if we
188. 6:38are actually going to get fall through
189. 6:40from the sellers. If there is no follow
190. 6:42through, then it's likely that we're
191. 6:43going to continue the squeeze higher up
192. 6:45into the middle of Asia's range. I mean,
193. 6:47that was the plan from the morning,
194. 6:48right? So, I'm watching this happen. I
195. 6:51let this candle close and I'm seeing
196. 6:52what happens in this 5-minute candle.
197. 6:55What I was paying attention to is I'm
198. 6:57watching this also on a 1-minute chart.
199. 6:59Now, this is deep charts. Now, I'm
200. 7:01watching it on a 1-minute chart.
201. 7:04This right here, okay, when we opened
202. 7:06up, we immediately pushed down. We
203. 7:08opened up, we immediately pushed down
204. 7:10and we have selling coming in. 243
205. 7:13contracts from sellers on MNQ and we
206. 7:15immediately reject. We immediately
207. 7:18reject. The moment that this candle
208. 7:20opens up and pushes to the upside and
209. 7:22closes and we see that reengagement from
210. 7:24buyers, then I go long. And where am I
211. 7:27targeting? Well, the pre-market plan
212. 7:29said to target around 250. So, I ended
213. 7:32up getting in that trade with small size
214. 7:35on six of my funded accounts, the first
215. 7:37group. We ended up catching about 75
216. 7:39points. We pushed up and we had that
217. 7:41squeeze here up into the area of 250
218. 7:45right here, which is what I was
219. 7:46watching. Called out that I was taking
220. 7:48that trade on stream. We took it on
221. 7:49stream with prop from match. And so, we
222. 7:51move over to our other accounts. So, the
223. 7:54second trade that I took, I actually
224. 7:55made a mistake. It resulted in a in a
225. 7:57smaller loss, about $270 times my other
226. 8:01three funded accounts. I'm watching this
227. 8:03area where all of this strong initiative
228. 8:05buying pressure stepped in. I'm looking
229. 8:07to see whether or not we're actually
230. 8:08going to defend this positioning and
231. 8:10continue higher. And if we were to
232. 8:12continue higher, I'm looking for us to
233. 8:13come into 300. 300 because there was
234. 8:16orders sitting here. It's a
235. 8:17psychological level. And if we're mean
236. 8:19reverting, then chances are we're going
237. 8:22to go make another high and at least
238. 8:24target Asia highs, which is kind of what
239. 8:26we did this morning, or at least come up
240. 8:28into the HPL. So, I'm watching us push
241. 8:30up. We're pushing up aggressively. We
242. 8:32start coming down and we actually start
243. 8:33seeing selling pressure here. As we
244. 8:35begin to push lower, I'm watching this
245. 8:38area, treating it almost as a zone,
246. 8:41to see whether or not we're going to get
247. 8:43follow-through from the sellers past
248. 8:44this area or if we're going to
249. 8:46potentially pop back up. Now, what I
250. 8:48ended up doing on those other accounts
251. 8:50is once we started coming lower, right
252. 8:53around here, where I'm also watching the
253. 8:56one-minute chart where we see the
254. 8:58selling pressure come in and it
255. 8:59immediately just gets rejected and we
256. 9:01close back up here, I ended up going
257. 9:03long. Now, it was premature and what
258. 9:06ended up happening was we ended up
259. 9:08chopping around. We came down. We
260. 9:09stopped me out. But, what I notified to
261. 9:12the Discord, at least to the students
262. 9:15that we have in there, is we began to
263. 9:17chop. Now, as we were chopping, I want
264. 9:20to make sure that no one's actually
265. 9:21trading the chop. So, I messaged to the
266. 9:23Discord and I said, "We're currently
267. 9:24chopping right now. No one should be
268. 9:26trading this. I hope not to see it later
269. 9:29when they're sending me their trades,
270. 9:30right?" But, I did mention that you need
271. 9:32to be careful about this chop and if we
272. 9:35we a move lower, it's potentially going
273. 9:37to be a fake breakout to the downside
274. 9:39before we actually rip up to 29,300.
275. 9:42It's just something to keep in mind. The
276. 9:44put wall adjusted itself to be sitting
277. 9:46here
278. 9:47at 29,190.
279. 9:49So, until we actually got below this
280. 9:52area and we started seeing acceptance
281. 9:54below it with follow through from the
282. 9:56sellers, we're still looking for
283. 9:58potential long opportunities. Now, in
284. 10:00this case, we were chopping back and
285. 10:01forth. We did get that push down. It
286. 10:04looked like we were about to break
287. 10:05lower, but I'm already keeping in mind
288. 10:08that it's potentially a fake breakout to
289. 10:09the downside. So, I tried to Once I saw
290. 10:13this selling pressure coming in and we
291. 10:15immediately start rejecting it, I tried
292. 10:17to go long. Now, this trade ended up
293. 10:19going 40 points in the profit before it
294. 10:22came back and hit me at break even and
295. 10:24then eventually running to full target.
296. 10:27But, I sent it out in the Discord. I
297. 10:28told them what I was looking for.
298. 10:30Unfortunately, we didn't get that fall
299. 10:32through immediately, so it hit me at
300. 10:34break even. So, it ends up resulting in
301. 10:36a day this morning where I am up $2,800
302. 10:40on the first batch of six funded
303. 10:41accounts and I'm down $800 on the second
304. 10:44batch where I lost about 270, 280 on
305. 10:48three accounts and I'm up about 470 on
306. 10:51six accounts. So, it results in about a
307. 10:53$1,900 day, almost a $2,000 day. And at
308. 10:56this point, I'm done for the morning.
309. 10:59Why? Because as far as for the daily
310. 11:02outlook that we had, realistically, this
311. 11:05was the upside scenario. Unfortunately,
312. 11:08at the open, we already saw a good
313. 11:09portion of this move. So, once we ended
314. 11:12up, you know, heading back into the
315. 11:14middle of Asia's range and then also
316. 11:16getting up here into 300 and now we've
317. 11:18taken Asia highs, well, at this point,
318. 11:21my plan for the day is done. What I was
319. 11:23looking for, the scenario that I built,
320. 11:26ended up playing out and I have nothing
321. 11:28else planned for the day. I do not want
322. 11:30to sit here and try and create a plan
323. 11:32mid-session. What we were looking for
324. 11:35happened, right? We were watching for
325. 11:37this area to hold, we held, market
326. 11:39opened up, we were looking for a
327. 11:41pullback and a failure of sellers to
328. 11:43then try and go long. Unfortunately, we
329. 11:45didn't get it. Now, as we're moving up,
330. 11:48we're watching the failure of sellers
331. 11:50and then we were watching footprint to
332. 11:52then look for a squeeze higher up into
333. 11:54the middle of Asia's range. We tried to
334. 11:56do it again to make our way up to 300,
335. 11:59it ended up stopping us out. We chopped
336. 12:02around, fake break out of the chop to
337. 12:04the downside, which then was where I was
338. 12:07looking to go long again to then try and
339. 12:10target 29,300.
340. 12:12Unfortunately, it hit break even. So,
341. 12:14not a bad day, and it's a pretty quick
342. 12:16day, too. So, we basically just took
343. 12:17three trades. I'm going to start doing
344. 12:19more daily recaps. I used to do them in
345. 12:22the past. I did get kind of lazy, so I'm
346. 12:25going to try and not do that anymore.
347. 12:27But, if you guys have any questions,
348. 12:28feel free to ask me in the comment
349. 12:31section down below. I am going to be
350. 12:33back on stream tomorrow trading. So,
351. 12:36I'll catch you guys then. Peace.