Weekly Recap - $2,180 payout — Transcript

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1. 0:00All right, what's up? It's Thrax. I'm
2. 0:01back for another weekly recap. This week
3. 0:04was all right. Could have been better,
4. 0:07could have been worse, little tricky
5. 0:08during the New York opens, but
6. 0:11we're able to survive. So, just so you
7. 0:14guys know, this week I was able to take
8. 0:17a payout here for 2,400. So, then after
9. 0:22the split, I got 2,180. So, 2,180 on the
10. 0:25Topstep account in terms of payouts for
11. 0:27this week. Uh we really only had one
12. 0:30funded account to start the week. Now,
13. 0:32after I actually got some profits, um I
14. 0:36ended up buying more funded accounts.
15. 0:38Now, or I bought more evals and I passed
16. 0:40them. So, as of right now, we have one
17. 0:42Topstep account, we have one Alpha
18. 0:46Futures account, and we have one Lucid
19. 0:48account. They're all funded. So, we have
20. 0:50three funded accounts now. Now, the
21. 0:52account that I took a payout on, we
22. 0:55should have had four funded accounts,
23. 0:57but the account that I took a payout on,
24. 0:59I ended up tilting.
25. 1:01I ended up tilting, I blew it, you know,
26. 1:03it is what it is. From that account,
27. 1:05I've probably pulled like $9,000 in
28. 1:07payouts from that account alone. So, you
29. 1:09know, at the end of the day, it's just
30. 1:11part of the game. I did mess up, I did
31. 1:14kind of blow like a $2,300 balance after
32. 1:17that payout, which wasn't ideal, but
33. 1:21I mean, it is what it is. So, as of
34. 1:23right now, we have this funded account,
35. 1:26which it's its first day on this
36. 1:28account.
37. 1:29We are up $400. So, we'll try and pull a
38. 1:32payout on this account. We also have
39. 1:35this Alpha Futures account, where this
40. 1:39week I was able to be positive. This was
41. 1:42the first week I started trading it. Uh
42. 1:44we're four winning days in at this
43. 1:46point, but the balance really isn't that
44. 1:48high. It's like $1,300.
45. 1:51So, hopefully next week, the goal is to
46. 1:53get this account, build the balance a
47. 1:55little bit, and get it up to maybe a
48. 1:58$3,000 balance, so we can pull $1,500
49. 2:01from this account. So, that's kind of
50. 2:02the focus for next week with this
51. 2:04account. Then, we have this funded
52. 2:06account with Lucid. It's the only funded
53. 2:09account I have with Lucid. We made 250
54. 2:12bucks on it today. We kind of had a bit
55. 2:13of a choppier day uh around the open.
56. 2:17So, this is this is the first day on
57. 2:19this account as well. So, pretty much
58. 2:21heading into next week, we have three
59. 2:23funded accounts. They're basically all
60. 2:26brand new, except for the Alpha Futures
61. 2:27account. We're going to try and pull a
62. 2:28payout next week with the Alpha Futures
63. 2:30account, but for now,
64. 2:33this is what we got. Three funded
65. 2:34accounts. We can work with it. That
66. 2:36payout that we took at the beginning of
67. 2:38this week put us net positive on the
68. 2:40month. We can use some of those profits
69. 2:43to try and get more funded accounts,
70. 2:45which is probably what I'm going to do
71. 2:46next week. But yeah, so let's get into a
72. 2:49little bit of the analysis and what we
73. 2:52were actually looking at this week and
74. 2:54how we approached it and the mistakes we
75. 2:57made and whatnot. Now, let's take a
76. 2:59quick break to tell you about the
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96. 3:35match. Now, let's get back into the
97. 3:37video. All right, so let's start with
98. 3:39April 6th. Let's go back to Monday,
99. 3:43April 6th.
100. 3:44So, what I wanted to see us do today is
101. 3:47we were at this key decision point in
102. 3:50terms of higher time frame, where if we
103. 3:52were going to continue the trend down, I
104. 3:54would have liked to see us actually do
105. 3:56it in this area. But, I understood that
106. 3:58we could be shifting higher time frame
107. 4:00structure to start going up. Now,
108. 4:02obviously, we didn't have this Trump
109. 4:03candle yet, so I'm only looking at this
110. 4:05area. But, essentially, there were two
111. 4:07scenarios for us
112. 4:09in this day that I was looking for. And
113. 4:11the reason why I had these two scenarios
114. 4:13was because I understood that the day
115. 4:16following, on Tuesday, we were going to
116. 4:19have that news regarding Iran, Trump,
117. 4:23Strait of Hormuz, and all of that. So,
118. 4:25in anticipation of that, what I was
119. 4:27expecting for the morning is for these
120. 4:29highs to get taken out and potentially
121. 4:31for us to consolidate, or for us to open
122. 4:35up and rotate lower and take London lows
123. 4:38and then take these lows down here
124. 4:40towards the open of the weekly candle.
125. 4:44We ended up consolidating sideways this
126. 4:46day, and this is pretty unfavorable
127. 4:49conditions to be completely honest. We
128. 4:51still ended up being green this day on
129. 4:53all of our accounts. Honestly, I can't
130. 4:56remember what trades I actually took.
131. 4:58Now, in terms of gamma in this scenario,
132. 5:00one of the other reasons why we were
133. 5:02considering that we may be likely to
134. 5:04actually chop or compress was because of
135. 5:07the conditions we were in in terms of
136. 5:09gamma. Now, we were in a positive gamma
137. 5:11environment, so understanding that we're
138. 5:13leaning more towards compression or
139. 5:15rotation rather than expansion. And we
140. 5:17had the call wall sitting up here at 590
141. 5:20on QQQ, which we were paying attention
142. 5:21to, which I believe it tapped into
143. 5:24somewhere up here.
144. 5:25Now, I don't really remember what trade
145. 5:27I took this day, but let's go look at
146. 5:29Tuesday, okay? Now, on Tuesday, what I
147. 5:32wanted to see us do when we were opening
148. 5:34up here, when we're opening up here, is
149. 5:37I wanted to to I wanted to see us push
150. 5:39up into this area and then drop down.
151. 5:41Drop down to where? Drop down to go take
152. 5:45pre first pre-market lows up here, and
153. 5:48then Asia range lows, and then the
154. 5:51ultimate target was down here. Now, on
155. 5:53this day, what I ended up doing is when
156. 5:56we opened up here at the opening candle,
157. 5:58we pushed up and we slammed back down.
158. 6:00The moment we slammed back down and this
159. 6:01candle pushed up and also slammed down,
160. 6:03meaning that
161. 6:05buyers were attempting to push price
162. 6:06higher and they were failing, and we
163. 6:08were rotating lower, we put in a lower
164. 6:10high on the lower time frames, and so I
165. 6:12went short. And I went short, and I
166. 6:14targeted these areas. Now, I didn't
167. 6:16catch the full move, but I caught a
168. 6:18pretty decent move, and we were up on
169. 6:20all of our accounts for Tuesday. Then,
170. 6:22later during Tuesday, of course, what
171. 6:24happens? Well, we have overnight this
172. 6:27large move up from the Trump pump,
173. 6:30basically. And so, it kind of made
174. 6:34Wednesday a little difficult for me
175. 6:35because I didn't really understand how
176. 6:37the market was going to react to what
177. 6:39just happened. And so, I needed to be
178. 6:41careful, and so I understood that the
179. 6:43open may be volatile or a bit violent,
180. 6:47but I did have an area of resistance
181. 6:49that I was looking for us to stay below.
182. 6:51So, I wanted to see us essentially
183. 6:54retrace into some of this move, but I
184. 6:56wanted to make sure that we were going
185. 6:58to hold below 25,250.
186. 7:01Now, there's a couple reasons for that.
187. 7:03Now, I wanted to see us come down, at
188. 7:05least take London lows, and then try and
189. 7:07make our way towards Asia lows. We ended
190. 7:10up taking Asia lows out, but I was
191. 7:12considering that we potentially could
192. 7:14just range and chop in this area. But,
193. 7:17the key decision point for me today was
194. 7:1925,250.
195. 7:20Now, why? Because at 25,250,
196. 7:24the call wall was sitting up here. We're
197. 7:26in a positive environment. Now, I wasn't
198. 7:28expecting us to make this large move
199. 7:30down, but I was looking at London lows
200. 7:33for the target. Now, on Wednesday, we
201. 7:36took shorts. We were able to make money
202. 7:38this day as well. We understood that we
203. 7:40were holding below the 25,250
204. 7:43area. If we started accepting price
205. 7:45above that, then at that point, we would
206. 7:47be considering that shorts are totally
207. 7:49off the table at that point. So, we're
208. 7:51looking for shorts in this entire area.
209. 7:53We're watching to make sure that we're
210. 7:55not going to get above 250, because
211. 7:58then, obviously, we're not going to take
212. 7:59shorts, and we're going to be looking
213. 8:00for a slow grind higher. Then, on April
214. 8:039th,
215. 8:04what I wanted to see prefer what I
216. 8:06preferred to see is I preferred to see
217. 8:08us actually go lower off the open and
218. 8:11take these lows that were resting here.
219. 8:13Now, I took shorts. I think I actually
220. 8:17bottom ticked shorts here trying to play
221. 8:20the momentum to continue down, and I got
222. 8:23cooked. Okay? I got cooked. I lost. We
223. 8:27never took these lows, we left it, and
224. 8:29we just started running. This was the
225. 8:32day that I tilted on that funded account
226. 8:35that I blew. I think after this ran up,
227. 8:38I tried to chase it, and then I just
228. 8:40kind of went in the wrong direction all
229. 8:43throughout here. I was just trying to
230. 8:45chase price, basically. So, we ended up
231. 8:47blowing an account like a dummy. And
232. 8:49then today,
233. 8:51which is Friday, I was actually
234. 8:53expecting us to just consolidate or
235. 8:55chop.
236. 8:56And once I recognized that we were doing
237. 8:59that this morning, well, I really didn't
238. 9:00trade any of this. I only decided to
239. 9:02take a trade once we came up here to
240. 9:04take data highs. We took data highs. We
241. 9:08were compressing the entire morning.
242. 9:10Now, after we started compressing,
243. 9:13I was looking to see if this was going
244. 9:15to be a successful breakout or not. Now,
245. 9:18we took data highs and we slammed back
246. 9:19down. At that point, I go short because
247. 9:22I'm anticipating that we're at least
248. 9:24going to rotate back to equilibrium of
249. 9:26this range. So, that's exactly the trade
250. 9:28that I took. The true targets would have
251. 9:31been down here, right? As you can see
252. 9:33with my screenshot, the first target's
253. 9:35down here for pre-market lows, which is
254. 9:37what we got. Then, we had the bounce,
255. 9:40and then now we're making our way lower.
256. 9:42We are still forming structure because
257. 9:44it's like 10:00 a.m., market's still
258. 9:46open, but I'm done trading for the day.
259. 9:47I was able to catch some of this move.
260. 9:50We caught some of the move. It was a
261. 9:51very slow morning. It required a lot of
262. 9:53patience, and then we're done. So,
263. 9:55in terms of analysis,
264. 9:59it was okay. It was a bit of a rough
265. 10:01week, honestly.
266. 10:02I mean, I was green like four out of
267. 10:05five days,
268. 10:07but that one day was a very bad losing
269. 10:10day where I just totally tilted and blew
270. 10:11that account.
271. 10:13We do now have three funded accounts to
272. 10:15work with. We're going to hope that next
273. 10:17week is a little bit better in terms of
274. 10:20execution and not being a
275. 10:24Um but we did have a lot of
276. 10:26heavy-hitting news this week, which made
277. 10:28it a little bit difficult for me to
278. 10:30read. Our daily bias, to a certain
279. 10:33extent, was in the right direction for
280. 10:36this week and the days that we had. And
281. 10:38then all it came down to was just
282. 10:39executing. So, not a bad week, but not a
283. 10:43good week.
284. 10:45We took a payout. It puts us up on the
285. 10:46month to start April, first full week of
286. 10:49April. Now we have some funded accounts.
287. 10:51The focus is going to be to get more
288. 10:53funded accounts, and then also to uh
289. 10:57pull some more payouts. I got to focus
290. 10:58on that Alpha account next week.
291. 11:00Hopefully get a $1,500 payout. Add that
292. 11:03to our balance here for the month, and
293. 11:05then just continue on. There's a lot
294. 11:07going on fundamentally and within the
295. 11:09news, so it's important that we stay
296. 11:12cautious and we're careful, and we've
297. 11:15been seeing a lot of whiplashing and
298. 11:17chop off the open. So,
299. 11:19um I I'm like super suspicious every day
300. 11:23about New York open when we start moving
301. 11:25in a direction. I just immediately think
302. 11:28it's kind of BS just because it's been
303. 11:30happening so often uh the past month and
304. 11:34a half at this point. But yeah, so we'll
305. 11:37try and just not do a bad job next week.
306. 11:40This week at least we were able to pull
307. 11:41a payout, and I didn't blow that account
308. 11:43before I was able to get that payout.
309. 11:44But um
310. 11:46yeah, I just wanted to do a quick recap
311. 11:47for you guys, and I will catch you guys
312. 11:50next time. Peace.