Weekly Recap - 2 payouts for $4,141 — Transcript

Full transcript

1. 0:00All right, what's up? It's Thrax. We're
2. 0:02back for another weekly recap. It is
3. 0:04Friday.
4. 0:05The market just closed, so we're going
5. 0:07to talk about what we were looking at in
6. 0:10terms of analysis this week, and then
7. 0:12I'll show you what happened with my
8. 0:14accounts and what we have coming up for
9. 0:15next week. So, in terms of numbers,
10. 0:19let's just get them out of the way. This
11. 0:21week, it was rough, but it was all
12. 0:24right. We pulled after the profit split
13. 0:27$4,141
14. 0:30in payouts. We are 1 day away on this
15. 0:34account from pulling another payout. So,
16. 0:38currently right now, stats aren't
17. 0:40looking too good, but we are
18. 0:431 day away. We're on the fourth day, so
19. 0:46we just need Monday or Tuesday. We were
20. 0:48green every day this week on this
21. 0:49account. Unfortunately, for this
22. 0:52account, we did take a massive L this
23. 0:55day, so
24. 0:57we got $53 in the balance. It's
25. 0:59basically cooked. I'm just seeing if I
26. 1:02can Hail Mary this one back to life.
27. 1:05There was one time where I actually took
28. 1:08an account from 60 bucks and pyramided
29. 1:10into a winning position with gold to try
30. 1:14and and then I got it back to $2,500
31. 1:16balance. So,
32. 1:18obviously, the odds of that happening
33. 1:20are not very high,
34. 1:22but you know, we got 53 bucks plus the
35. 1:24$100 buffer, we might as well try and
36. 1:26make it work. So, that's what we're
37. 1:28going to try and do
38. 1:29when it comes to it. But, yeah, I
39. 1:30totally destroyed this account. The good
40. 1:32thing is is that we did pull a payout
41. 1:34from this account, so it wasn't a total
42. 1:36waste. And then this account, we pulled
43. 1:39a payout from it, and then if we can get
44. 1:411 day and if we can get 1 day on Monday
45. 1:43or Tuesday, we'll take like another
46. 1:464,000 or $4,500 payout, putting us up if
47. 1:50we pull this payout, it'll put us up to
48. 1:53about $10,000 in payouts this month or a
49. 1:55little bit over that. And then we'll
50. 1:57talk about the month
51. 1:59um in the monthly recap. But, let's
52. 2:01focus on the week here. So, not a bad
53. 2:03week overall on that one funded account,
54. 2:06we are up about uh $7,000 in P&L, but at
55. 2:10the end of the day, P&L doesn't really
56. 2:12matter. What we care about is payouts,
57. 2:14and we took about $4,141
58. 2:17after profit split in payouts this week.
59. 2:20Now, I want to talk about what actually
60. 2:22happened in terms of price action, and
61. 2:24we're going to go over my daily
62. 2:25outlooks, and we're going to go over
63. 2:27what it was what was it that I was
64. 2:29actually expecting for us to do this
65. 2:32week. Now, let's take a quick break to
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86. 3:11get back into the video. The week
87. 3:13basically started right here, okay? So,
88. 3:15this is the start of the week. Now, in
89. 3:17the Discord,
90. 3:19I gave a weekly outlook. So, let's take
91. 3:22a look at it. Basically, what I wanted
92. 3:24to see was at the open here, I was
93. 3:27anticipating us to actually gap down on
94. 3:30the weekly. Now, we did, we gap down to
95. 3:33we actually gap down 300 points.
96. 3:37Um and there was an area I was watching.
97. 3:39So, this area right here,
98. 3:41I was expecting us to gap into this and
99. 3:44then to come back up. Now, we actually
100. 3:47ended up doing that. That level around
101. 3:49um it was 23,840 to 23,740,
102. 3:53so it was basically right here, 23,000
103. 3:57840 to 740,
104. 4:02basically.
105. 4:03It was basically right here, okay? We
106. 4:05were looking for this area to hold. Now,
107. 4:07of course, we had that crazy news pump
108. 4:10that happened at the beginning of the of
109. 4:12the week, where we pumped off of a Trump
110. 4:15tweet for like 800 points. Now, the
111. 4:17point is is that this area held. Now, as
112. 4:20we were coming up, we understand that we
113. 4:21are in higher time frame bearish
114. 4:23structure. When we actually come up,
115. 4:25then I am looking in premium in this
116. 4:27area of the most recent range. I was
117. 4:30trying to see price dig deeper into this
118. 4:32area before we turned around, but what
119. 4:34ended up happening is we popped up off
120. 4:36this news candle. We kind of chopped
121. 4:38around for a bit, and then we eventually
122. 4:40rolled over for the week. But, what I
123. 4:41was watching for is I was watching this
124. 4:44area to try and hold. Now, I did say if
125. 4:47we continue past
126. 4:50this area, I'm expecting us to drop
127. 4:53lower past 23,500.
128. 4:56So, if this is 23,500,
129. 4:58why was I looking here? Well, I was
130. 5:01looking here because right around this
131. 5:03area is where we have these lows, right?
132. 5:0723,481.
133. 5:10Ultimately, my mindset for this week was
134. 5:13based around this area right around
135. 5:1523,800.
136. 5:17If it held, I was expecting us to come
137. 5:19up into premium and potentially chop. If
138. 5:22we get past it, I'm now looking for us
139. 5:24to take out those lows that are over
140. 5:26here on the 4-hour, which we actually
141. 5:28took today and ended up taking a
142. 5:30130-point trade on my live account with
143. 5:33only one micro, but we still took it.
144. 5:36So, these were the weekly levels I was
145. 5:37watching. And as you see here, this was
146. 5:40kind of the decision point, 24,550.
147. 5:44Now, why is 24,550
148. 5:46the decision point for me? So, if the
149. 5:49decision point right here, 24,550,
150. 5:53this was and I sent this out just so you
151. 5:56know, on Sunday before we gap down. Now,
152. 5:59I'm watching this area because if we get
153. 6:01sustained buying pressure past it, there
154. 6:03is a potential that we can start coming
155. 6:05back up into this range up here that
156. 6:07we're
157. 6:08essentially leaving from right now. Now,
158. 6:11we actually never we popped up into it,
159. 6:13and I was watching this area kind of as
160. 6:15the last line of defense
161. 6:17um and we never really continued any
162. 6:19buying pressure. So, the decision at
163. 6:21this point, once I saw we were doing
164. 6:22this this week, I was expecting us to
165. 6:24roll over and target the lows.
166. 6:27When it comes to Monday, I'm noting that
167. 6:30we did hold this area that I had down
168. 6:32here, and I was looking for us to
169. 6:34potentially come up into this area, but
170. 6:36instead,
171. 6:38we ended up kind of chopping around.
172. 6:40Now, the next day for Tuesday, I was
173. 6:44essentially watching for us to
174. 6:47either [clears throat] make our move
175. 6:48down or pop up and then start
176. 6:50consolidating sideways. We actually did
177. 6:52end up kind of consolidating, but then
178. 6:54popping up towards the end of the day
179. 6:56here right at market close, and then we
180. 6:58consolidated into Asia session. At this
181. 7:01point, we're kind of just ranging here
182. 7:03after this large move up. So, then
183. 7:06we stayed in this range until about
184. 7:09until about Thursday. Now, on Thursday,
185. 7:12I said we were falling down from the
186. 7:13overnights. We're going to see if we end
187. 7:15up catching support in the same area or
188. 7:17if we're going to end up falling
189. 7:18through. So, the profile I was kind of
190. 7:20looking at is I was looking at this
191. 7:22area, which ended up being right around
192. 7:25here, whether we were going to just drop
193. 7:26through it or if we were going to pop
194. 7:28back up and continue ranging in this
195. 7:30area. We ended up falling through it.
196. 7:33So, now I'm getting the idea that we are
197. 7:35heading lower and we're going to our
198. 7:36weekly target, which is below 23,500.
199. 7:40So, when we open up here today, I take a
200. 7:42look at QQQ. Now, where are we relative
201. 7:46to price on QQQ pre-market? Well, we are
202. 7:49below the highest net negative gex at
203. 7:52570. Now, this is the put support. If
204. 7:54we're going to pop back up, I would like
205. 7:56to see this basically be held. Now, what
206. 8:00did we do though?
207. 8:01We're opening below it. We pop up, we
208. 8:04drop down, and right when we get to
209. 8:07570 on the charts, it was basically
210. 8:09right here, we started to turn around. I
211. 8:11go short in this area because at this
212. 8:13point, we can't have acceptance higher
213. 8:15above this area or we're not having it.
214. 8:18So, I'm no longer expecting price to
215. 8:19actually pop up, and we're also in a
216. 8:22negative gamma environment, so I'm
217. 8:24expecting a faster move. So, we ended up
218. 8:26trying to target those lows that I
219. 8:28marked out, which was our weekly target
220. 8:30on the 4-hour. So, in terms of of weekly
221. 8:34analysis this week, we were
222. 8:37we did a pretty good job.
223. 8:39Um our levels were valid, our decision
224. 8:42points or the areas of interest where we
225. 8:43were looking for reaction, not
226. 8:45necessarily trying to anticipate what
227. 8:48price was going to do, but more so just
228. 8:50understanding that these locations were
229. 8:52important, and we were looking to see
230. 8:54what the reaction was actually going to
231. 8:56be. Now, those areas were solid, and we
232. 8:59were able to make decisions based off of
233. 9:01that to make it so that we had a green
234. 9:04week. Now, also during this week, I did
235. 9:07trade a decent amount of gold during
236. 9:09Asia session. Let's go take a quick look
237. 9:11at that. I do not have any type of
238. 9:15analysis that I've posted in the Discord
239. 9:18over over this, but just to give you an
240. 9:20idea of what I was looking at, we kind
241. 9:22of started the week down after we had a
242. 9:24large drop during the Sunday open. Now,
243. 9:28on Sunday open, I actually shorted a lot
244. 9:31of this
245. 9:32and was able to make some profits. If
246. 9:34we're coming out of an imbalance, I'm
247. 9:35expecting us to try and find some
248. 9:37balance. We end up balancing out for the
249. 9:39first 2 days, and we pop up. I caught
250. 9:43some of this move up right when Asia
251. 9:45actually opened, and I did make a decent
252. 9:47amount of money on this trade. I ended
253. 9:50up making about, I don't know, 1,700 or
254. 9:52$2,000 from this trade on gold, and and
255. 9:55we made some money in NQ New York AM
256. 9:57session, but we did catch a nice little
257. 9:59chunk of this move. Now, we didn't catch
258. 10:00the whole thing, unfortunately,
259. 10:03um but that's really not the goal. I
260. 10:04mean, it's difficult to catch an entire
261. 10:06move. Our goal is just to try and take
262. 10:08our piece of the pie out of it. So,
263. 10:10that's what we did here.
264. 10:12And then we actually shorted it on the
265. 10:13way down. I didn't really touch gold
266. 10:15like that today or yesterday. We were
267. 10:17mainly just focusing on NQ because we
268. 10:19were getting the setup that we were
269. 10:20looking for. But, the point is this,
270. 10:22okay? We are okay for the month. We
271. 10:25really only have one funded account.
272. 10:28We're net positive on the month after
273. 10:30starting down because we blew all those
274. 10:32accounts at the beginning of the month.
275. 10:35This week really helped us out. Before
276. 10:36this week, we were about break even in
277. 10:39terms of fees, money in, money out,
278. 10:43which really wasn't good. I kind of
279. 10:44tilted in the beginning. We're going to
280. 10:46talk about that in the monthly recap. We
281. 10:48were able to take 4,100 bucks basically
282. 10:51in payouts after split this week. Puts
283. 10:54us in profit. And
284. 10:57hopefully if everything goes well on
285. 10:59Sunday's open or Monday in the morning,
286. 11:02we can make another $200 on our Topstep
287. 11:05account and pull like a $4,500 payout
288. 11:08after split. It'll be probably closer to
289. 11:104,100 bucks. And then that should put us
290. 11:13up about $10,000 in payouts for the
291. 11:15month. Just so you guys know, I'm going
292. 11:17to show you what I spent in terms of
293. 11:21uh fees and stuff in the actual monthly
294. 11:23recap. But, overall, not a bad week.
295. 11:27The market's finally getting out of this
296. 11:29range. We are having moves that are
297. 11:32sustaining some pressure, and we are
298. 11:35looking at gold for opportunities. And
299. 11:37we're going to try and and set ourselves
300. 11:39up for a decent month next month. So,
301. 11:42just a quick weekly recap. We had our
302. 11:45analysis. We we planned out every day.
303. 11:48We planned out the week. We had weekly
304. 11:49levels. We planned out every day what we
305. 11:51were expecting to see. We're using
306. 11:53gamma. We're using higher time frame
307. 11:56structure and higher time frame swing
308. 11:58points as levels of interest. We're
309. 12:00using premium and discount. And we're
310. 12:02forming these trade ideas heading into
311. 12:04the session every day. So, we have a
312. 12:05plan. We have a plan of what we know
313. 12:07what we want to look for and areas that
314. 12:09are of interest to us. And as we watch
315. 12:11price enter these locations, then we're
316. 12:13making decisions that are going to help
317. 12:15us take trades basically off of order
318. 12:18flow confirmation.
319. 12:20So, it was a decent way to end the week.
320. 12:21I didn't really trade my funded accounts
321. 12:23or my funded account
322. 12:26today. Uh I just traded my live account.
323. 12:28But, my live account, started it with
324. 12:30500 bucks. We're currently at $1,100.
325. 12:33We're going to try and see, and I'm not
326. 12:35really like posting videos about it or
327. 12:36whatever. I'm just trading it on my own
328. 12:38time. But, we're going to see if I can
329. 12:40get that up to
330. 12:42a bigger balance, and maybe we might
331. 12:43start swinging micros
332. 12:45um for bigger moves uh that I hold
333. 12:47overnight once I have the margin for it.
334. 12:49I need like a little bit over $3,000 of
335. 12:52margin in that account, and then we can
336. 12:53try and swing some micros with much
337. 12:56bigger targets, much bigger stop losses.
338. 13:00So, we'll see how it goes. But, that's
339. 13:02about it. So, I'll catch you guys next
340. 13:04time. If you want to watch me trade, I
341. 13:05trade in the morning, so be there if you
342. 13:07want. 6:30 a.m. Pacific Standard Time,
343. 13:109:30 a.m. Eastern Standard Time. Peace.