March Monthly Recap | +$10,848 in Payouts — Transcript

Full transcript

1. 0:00All right, what's up? It's Thrax. We are
2. 0:02going to do a recap for the month of
3. 0:05March. Now,
4. 0:08March was a tough month for me. I
5. 0:11started off the month with eight funded
6. 0:13accounts. I blew a bunch of funded
7. 0:16accounts. I blew them all, basically. I
8. 0:19was on the last day of a payout for like
9. 0:21four or five of those accounts. I was
10. 0:23supposed to go into March starting off
11. 0:26the month with a $8,000 payout, then we
12. 0:28were going to use it to scale, and then
13. 0:30hopefully have a pretty decent month.
14. 0:32But, instead, what ended up happening is
15. 0:34like the very first or second day of
16. 0:36March, I ended up like fumbling and
17. 0:38tilting, and I ruined it all, basically.
18. 0:41Then, the first 2 weeks, I was just
19. 0:44blowing accounts. So, let me just go
20. 0:46over the numbers really quickly. Now,
21. 0:48let's take a quick break to tell you
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42. 1:26get back into the video.
43. 1:28So, these are the stats with Topstep for
44. 1:30the month of March. So, we spent about
45. 1:34$2,000.
46. 1:36We were able to pull $10,848
47. 1:39in payouts. So, gross net before taxes
48. 1:42is about 8,800, we'll say.
49. 1:46Now, Topstep is not the only firm that I
50. 1:48bought challenges with. So, I ended up
51. 1:51also buying challenges with Lucid and
52. 1:54Apex. Now, on Apex, I bought the $30,050
53. 2:00K accounts. I bought like 10 of them. I
54. 2:03passed a couple of them, so paid
55. 2:04activation fee on it. I ended up
56. 2:06spending about $600 on Apex. Now, with
57. 2:09Lucid, Lucid, I passed accounts, I
58. 2:13bought accounts, I blew accounts. This
59. 2:15is all happening within the first 2
60. 2:16weeks after I basically fumbled my
61. 2:20accounts, right? With Lucid, I spent
62. 2:22about $500. So, it puts me just below
63. 2:268,000 $8,000. So, let's just say 7,800
64. 2:29or 7,900
65. 2:31for gross net before taxes. Now, I'm
66. 2:33still green on the month with the firms,
67. 2:36but I really messed it up. It should
68. 2:38have been a lot more this month, and the
69. 2:41price action this month made it a little
70. 2:43bit more difficult for me because
71. 2:46what was happening a lot this month in
72. 2:47March is we were making like really
73. 2:50large moves overnight, and then there
74. 2:52was a lot of New York open chop that was
75. 2:56happening. And that's not necessarily an
76. 2:58excuse because in a situation like that,
77. 3:01then what my framework basically tells
78. 3:03me to do is to sit on my hands. But,
79. 3:05because I was already in drawdown and I
80. 3:08was net negative with the firms, I was
81. 3:10trying to force trades in choppier
82. 3:13conditions during New York opens on NQ.
83. 3:16And, you know, that's going to result in
84. 3:18a bunch of blown accounts. I kind of
85. 3:20screwed myself this month. Now, albeit,
86. 3:22I am still up this month. I was able to
87. 3:25pull $10,000
88. 3:27or almost $11,000 in payouts. I think it
89. 3:29was 12,000 before the split, but money
90. 3:31to the bank was like 10,800.
91. 3:34I'm trying to adjust to current New York
92. 3:37price action. What I have been doing is
93. 3:40I have been trading gold a lot, and most
94. 3:41of the profits that actually came from
95. 3:43this month, and what I was actually able
96. 3:45to pull out in terms of payouts, a lot
97. 3:48of it really came from gold, trading
98. 3:50gold during Asia session. Now, back in
99. 3:53November, when New York session on NQ
100. 3:57was also having similar behaviors, I
101. 3:59actually stopped trading NQ entirely,
102. 4:02and I went only over to gold and really
103. 4:04only traded Asia gold. Now, I was able
104. 4:06back in like November or December, when
105. 4:08I was doing that, I was able to be
106. 4:10successful with that switch because I
107. 4:13wasn't necessarily trying to force
108. 4:15trades in conditions that didn't really
109. 4:17allow for it. Now, the issue is is that
110. 4:20this month, yeah, I decided to start
111. 4:22trading gold, but I did it a little bit
112. 4:24too late. I did it like halfway through
113. 4:26the month, and that's where basically
114. 4:28all of these profits come from. Now, I
115. 4:30did have another account. I still have
116. 4:32it. I was able to pull one payout from
117. 4:34it, and then now there's like $50 left
118. 4:36on it. But, we we took a pretty bad day.
119. 4:39We tilted this day, and we lost about
120. 4:42basically the whole balance here. So,
121. 4:44let me show you guys Topstep for a
122. 4:45second. So, in terms of payouts,
123. 4:48on the 30th, we pulled 46.97.
124. 4:51On the 23rd, we pulled 2,000 or 2,100.
125. 4:55On the 23rd, we pulled 2,500. And on the
126. 4:5818th, we pulled 27.46.
127. 5:01Now, after the split,
128. 5:03that's where we basically end up having
129. 5:06about 10,800. All the payouts this month
130. 5:09came from Topstep. I was able to pull
131. 5:11two payouts from that consistency
132. 5:13account, which I'm never purchasing ever
133. 5:14again. And then I was able to pull two
134. 5:16payouts from the normal account. Now,
135. 5:19the consistency account, this one,
136. 5:22we pulled two payouts from it,
137. 5:24but we ended up basically blowing it.
138. 5:27And the only reason why it's still here
139. 5:29is just because I wanted to show it
140. 5:31during the monthly recap.
141. 5:33Now, if you guys want to know about like
142. 5:34my analysis throughout the month, well,
143. 5:36I did a bunch of weekly recaps, and
144. 5:38that's not necessarily the purpose of
145. 5:39this video. The purpose of this video is
146. 5:41really just to talk about what the
147. 5:42numbers were looking like this month and
148. 5:44what really happened. So, we started off
149. 5:46really rough, and then we eventually
150. 5:48were able to make some profits and take
151. 5:51some payouts and be up on the month.
152. 5:54Now, it wasn't a clean month. It
153. 5:56definitely wasn't a good month, either,
154. 5:57even though we're green. But, what I
155. 6:00need to start doing is I need to be
156. 6:03careful about being aggressive
157. 6:06in conditions, especially on NQ during
158. 6:10New York, that may not necessarily allow
159. 6:13for that type of aggression, because at
160. 6:15that point, you're pressing the gas in
161. 6:17conditions that may may actually hurt
162. 6:19you. And that's kind of what's been
163. 6:21happening this month. And so, I'm hoping
164. 6:23what the plan is is for next month, I am
165. 6:28going to really just focus on my current
166. 6:30funded account just to make sure that I
167. 6:32don't end up being net negative on this
168. 6:35month. The process is this, okay? We
169. 6:38have about a $4,100 balance. And then
170. 6:40you guys
171. 6:41need to see that it's an express
172. 6:43account. It's not a it's not an eval or
173. 6:46a practice account. So, the balance is
174. 6:48about $4,100.
175. 6:50We are technically up $200 today. It's
176. 6:52the first day of this third cycle for
177. 6:55this account. So, the goal is to focus
178. 6:58on this account heading into April. We
179. 7:00should be able to at least, if we don't
180. 7:02mess it up and we just focus on getting
181. 7:04a payout, we should be able to at least
182. 7:07get this up to
183. 7:08maybe $5,000 balance at the minimum, and
184. 7:11then pull a payout for $2,500.
185. 7:14Now, I need to do that before I start
186. 7:17going and purchasing accounts, because
187. 7:20so far, for the past like 12 months in a
188. 7:22row, this being the 12th, and then now
189. 7:24April being the 13th, I haven't lost
190. 7:27money to prop firms, and I would like to
191. 7:28keep it that way. So, I need to be
192. 7:30careful about bankroll management, and I
193. 7:33can't just go, you know, trigger-happy
194. 7:35on purchasing evals, especially when I
195. 7:38only have one funded account. The plan
196. 7:40for this month is we take a payout with
197. 7:42this account. We'll be up about $2,500
198. 7:45on the month after split, maybe 2,250,
199. 7:49and then we use those profits to
200. 7:51purchase evals to get more funded
201. 7:54accounts, and then we're going to try
202. 7:55and scale that way. And this month is
203. 7:58not a good starting point because we
204. 8:00really only have one funded account. So,
205. 8:03we have to be careful. Hopefully, market
206. 8:06conditions are better heading into April
207. 8:09and going throughout April, but
208. 8:11honestly, I doubt it. I don't think that
209. 8:13just because it's a new month that
210. 8:15things are going to change.
211. 8:16Uh there's a lot going on fundamentally
212. 8:18with war news and tweets and all this
213. 8:22madness that's just like causing a lot
214. 8:24of uncertainty. It's making it slightly
215. 8:27difficult for me to to read, just being
216. 8:29completely honest. So, I mean, it wasn't
217. 8:32a terrible month at the end of the day
218. 8:34for March, but it definitely wasn't a
219. 8:36good month. Honestly, we were forcing a
220. 8:39lot of trades during March that we
221. 8:41really shouldn't have been taking. And
222. 8:43what I need to do in April is I need to
223. 8:46be a little bit more hands-off. This is
224. 8:48honestly, for New York open, for the way
225. 8:50that I trade in my strategy, it's kind
226. 8:53of a hands-off environment. There's
227. 8:54nothing I can do about it. I can't force
228. 8:57the market to give me more opportunity.
229. 9:00And
230. 9:01if I do that, or I attempt to do that,
231. 9:04well, it's not really I'm not really
232. 9:06expecting that to end very well. So, I'm
233. 9:09currently more in the mindset of capital
234. 9:12preservation and trying not to have a
235. 9:14big losing month or losing month in
236. 9:17general, rather than trying to have a
237. 9:19big winning month. So, the way that
238. 9:20we're going to approach April is going
239. 9:22to be a little bit different than how we
240. 9:23were approaching it in January, in
241. 9:25December, in February. We tried to do
242. 9:28the same thing in March. Conditions
243. 9:30didn't really allow for that type of
244. 9:32aggression for my framework, yet I still
245. 9:35tried to apply it, and we got smoked.
246. 9:38And then I tilted cuz of it. So, it's
247. 9:40important that we focus on the bankroll
248. 9:43management. We focus we focus on this in
249. 9:45terms of being a business, money in,
250. 9:47money out. It doesn't matter, oh yeah,
251. 9:50we're up 11,000 on P&L, or this account,
252. 9:53you know, we're up 4,000 on P&L. None of
253. 9:57that really matters, okay? The only
254. 9:59thing that matters at the end of the day
255. 10:00is how much money did you put in and how
256. 10:02much money did you take out? And as long
257. 10:04as it's positive, or even if it's break
258. 10:06even, I mean, it is what it is, but we
259. 10:08want it to be positive. So,
260. 10:11I didn't really have an opportunity to
261. 10:13try and set myself up for this month
262. 10:15because I needed to focus on payouts. I
263. 10:18pulled my last payout for the month on
264. 10:20the 30th. So, yeah, I mean, there's
265. 10:23really not a lot to say. We're net
266. 10:25positive on the month. If you want to
267. 10:26look at any of my analysis that happened
268. 10:28throughout the week, throughout the
269. 10:29month,
270. 10:31like I have weekly outlooks that I do. I
271. 10:34post all my outlooks in the Discord. For
272. 10:36the most part, the analysis for this
273. 10:38month was somewhat decent. It's just my
274. 10:41execution was lacking and I was just
275. 10:43tilting the first 2 weeks, but we're
276. 10:45going to hope that we have a better
277. 10:47April, but we're not going to try and
278. 10:49force it. Whatever the market gives us,
279. 10:51we're going to deal with it. What I
280. 10:53don't want to do
281. 10:54is I don't want to head into April,
282. 10:57blow this account, blow $4,000
283. 11:00in funded account balance, then have no
284. 11:02funded accounts, then have to purchase
285. 11:04evals, and then if I'm forcing
286. 11:07trades on evals trying to pass them in
287. 11:10conditions that aren't necessarily
288. 11:12favorable, well, now we're in a really
289. 11:14bad spot. And now we're opening
290. 11:16ourselves up to having a negative month.
291. 11:19We're going to We're going to lock down.
292. 11:21We're going to buckle in on this account
293. 11:22for a bit, just 4 more days. We got to
294. 11:25get tomorrow, the next day, and then
295. 11:27hopefully um Monday and Tuesday. And by
296. 11:30next week, we should be back to buying
297. 11:32evals. And then we'll get We're going to
298. 11:34try and scale from there. And we're
299. 11:35going to manage the bankroll so that, no
300. 11:37matter what, I mean, I would have to
301. 11:39blow like 25 accounts in a row without
302. 11:41really get If I were to pull a $2,500
303. 11:43payout, I would have to blow 25 accounts
304. 11:46in a row without getting another payout.
305. 11:48Now, can that happen? Yes. But is it
306. 11:50likely to happen?
307. 11:52Not really. So,
308. 11:55we just need a little bit of a of a
309. 11:56cushion, a little bit of breathing room
310. 11:58to start trading evals and using our
311. 12:00profits to try and scale. So, until
312. 12:02then,
313. 12:04I got to kind of just focus on one
314. 12:05account. And we're going to just try and
315. 12:07not mess it up. But I know this was a
316. 12:09little bit of a shorter monthly recap.
317. 12:12But yeah, moral of the story, started
318. 12:13off rough, whole month was rough,
319. 12:16ended up being able to get net positive
320. 12:18with the firms. The streak continues.
321. 12:20We're now on month 13 of not losing
322. 12:23money to prop firms. We're going to hope
323. 12:25to keep that going. If you guys want to
324. 12:27watch me live stream my trades, I trade
325. 12:30every morning
326. 12:31like 15 minutes before market open.
327. 12:34We're going to focus on gold a little
328. 12:36bit more this month because that's where
329. 12:38all the profits really came from in
330. 12:39March. So, I think that if we're seeing
331. 12:42success there, we might as well stick to
332. 12:45it and be careful when it comes to
333. 12:48Nasdaq during New York.
334. 12:50So, I'll catch you guys next time.
335. 12:52Peace.