Weekly Recap | $4,500 payout - Not the best week in terms of execution — Transcript

Full transcript

1. 0:00All right. What's up? It's Thrax. I'm
2. 0:02back for a weekly recap. This week was
3. 0:06kind of tough for me. Uh I'm going to go
4. 0:08over I did a lot of things wrong this
5. 0:11week that I need to work on, but just to
6. 0:14get it out the way, we're just going to
7. 0:15go over the numbers first. So, we are in
8. 0:19basically the third week of February.
9. 0:23And here is my Topstep account. Let me
10. 0:27show you. So, this is the same top
11. 0:29account that we've been on for, you
12. 0:30know, two months or whatever since
13. 0:33December 10th. I'm currently on the
14. 0:34ninth payout cycle of this account. We
15. 0:37pulled a payout on, I believe it was the
16. 0:40on Tuesday. So, this week we pul we got
17. 0:44our fifth day for the eighth payout
18. 0:45cycle. We pulled a payout on Tuesday and
19. 0:48then we were continuing on with trading
20. 0:52it, trying to milk as much money as
21. 0:53possible. We're currently sitting at
22. 0:55like a $10,000 balance. So, I need two
23. 0:58more winning days and then we can take
24. 1:00another $5,000 payout from this account.
25. 1:04Now, when it comes to this week, I
26. 1:06actually blew two funded accounts. And
27. 1:11what happened was when we were trading,
28. 1:17I can't remember which day it was. It
29. 1:19might have been Wednesday.
30. 1:21There's been something that I've been
31. 1:23doing where I don't go in with brackets.
32. 1:25So, if you don't know what brackets are,
33. 1:26it's basically the moment you enter a
34. 1:28position, it will automatically set a
35. 1:29stop-loss or it'll automatically set a
36. 1:31TP or both. Um, I wasn't doing that
37. 1:35because I don't know why I just kept
38. 1:37moving my stop manually after I enter
39. 1:39the trade. And there was one morning
40. 1:41pre-market where I was entering a short
41. 1:44and then some type of random news came
42. 1:46out about some agreement about a nuclear
43. 1:49program or something happened. I I
44. 1:51really don't remember. It's just about
45. 1:53Iran. And the moment that that happened,
46. 1:56like a one minute candle pumped like 300
47. 1:59ticks or almost a 100 points immediately
48. 2:02and it just instantly blew three might
49. 2:06have been three. It instantly blew three
50. 2:09of my funded accounts with top step.
51. 2:11That was like on Tuesday or Wednesday.
52. 2:13Um, after that obviously I learned,
53. 2:16well, usually I don't need the brackets,
54. 2:18but just in case some [ __ ] like that
55. 2:20happens or even today when that tariff
56. 2:22news came out, if you were short and I
57. 2:24didn't have if I was short and I didn't
58. 2:25have my brackets, I would have gotten
59. 2:26smoked on this candle. I would have
60. 2:28gotten smoked. We did technically on
61. 2:31this account end the day or end the week
62. 2:34green every single day essentially. So,
63. 2:39we're up about 2,300
64. 2:41uh for the week. There were a couple
65. 2:44days this week where I was live
66. 2:45streaming and I ended the stream down
67. 2:48and then I waited and waited and then
68. 2:51later on during the day I took a trade
69. 2:54which is kind of shady on my part. I'm
70. 2:56not going to lie. Like it just sometimes
71. 2:59you got to understand like when I'm
72. 3:02trading and I'm going to get better at
73. 3:04it. I'll get better at it. Sometimes
74. 3:05when I'm trading, like it's hard for me
75. 3:08to really focus when I'm answering
76. 3:12questions and like I'm talking and like
77. 3:14I'm trying to explain what I'm looking
78. 3:16at and then I h and then I have this
79. 3:18thing in my head where people are
80. 3:19watching me. I'm worried that people are
81. 3:21copy trading me and and then it's just
82. 3:22kind of a lot going on, right? So I'm
83. 3:25going to get better at it, but sometimes
84. 3:27it [ __ ] with my head when I'm trying to
85. 3:30trade. And I mean yesterday was an
86. 3:33example of that. the day before I think
87. 3:36was an example of that and then even
88. 3:38today was an example of that. Um, and
89. 3:42it's not really fair I guess to the
90. 3:44people who watch my streams. So, my bad.
91. 3:47But like at the end of the day, bro, I
92. 3:49got to do my trading and I'll get better
93. 3:52at it eventually. But like today, I
94. 3:53ended the stream. I was up like $200
95. 3:56across eight accounts. And then we had
96. 4:00this short. There was a low volume node
97. 4:02on the weekly um on one of the this
98. 4:04daily profile where we just couldn't get
99. 4:07past this and we started to roll over.
100. 4:09And when we started to roll over, well,
101. 4:11I ended up taking a short and I
102. 4:14basically caught maybe 30 or 40 points
103. 4:17and it put me up on the day. I used full
104. 4:20size for that one because the ATR was
105. 4:22stabling out and it was kind of smaller
106. 4:24candles than it was during market open.
107. 4:27Overall for this week, there's a couple
108. 4:29problems and there's a couple things
109. 4:32that I did well. Now, overall, I would
110. 4:36say that in a general sense for the
111. 4:39daily outlooks that I send in the
112. 4:41Discord,
113. 4:43they were decent. There were a couple of
114. 4:46days where I was just flat out wrong,
115. 4:48but it happens. Okay? Like today, the
116. 4:51other thing that happened, well, I
117. 4:53wasn't necessarily flat out wrong today,
118. 4:55but but the other thing that's been
119. 4:57happening is I create these plans of
120. 5:01what I'm supposed to look for during
121. 5:03market open. And the reason why I create
122. 5:06that plan and I create it before market
123. 5:08opens is because I don't want to have to
124. 5:12think about that while I'm watching
125. 5:14price move a million miles an hour. And
126. 5:17so I have these areas of interest or
127. 5:20these ideas of what I think price is
128. 5:23realistically going to do or how the
129. 5:25profile is going to play out for the day
130. 5:27and I need to follow it. And today is an
131. 5:30example of that. So like in the discord
132. 5:34basically what I said I sent it out when
133. 5:37we were up here falling down during
134. 5:39during uh the news candle is this box is
135. 5:42here for a reason. Okay. This is an area
136. 5:45where I'm looking to see how price is
137. 5:48going to react out of it. Whether we're
138. 5:49going to bounce or if we're going to
139. 5:51melt through and continue lower, but it,
140. 5:55you know, just because two things can
141. 5:57happen out of it, no [ __ ] we can bounce
142. 5:58or go lower. But it's just like this is
143. 6:00an area of interest that it's important
144. 6:02for me to watch, especially because here
145. 6:05we have these lows. Once we sweep the
146. 6:07lows, I need to see if we're going to
147. 6:08continue or if we're going to
148. 6:11essentially bounce back into the range
149. 6:12this week. Now, once we came down here
150. 6:16at the open, did I long it in my area
151. 6:20where I was potentially looking for a
152. 6:22bounce? No. You know what I did is when
153. 6:25this candle opened up and it pushed up
154. 6:27and it started falling back, I entered
155. 6:29short and I moved my stop to break even
156. 6:32because I was going to see if it can dig
157. 6:33deeper into this area before we bounce.
158. 6:37Why would I like that was the wrong
159. 6:39decision to do that? that that shouldn't
160. 6:42I was basically trying to catch crumbs
161. 6:45with a bad risk-to-reward
162. 6:47and I missed the whole loaf. You know
163. 6:50what I'm talking about? Like the level
164. 6:52was decent. The level was good. Yeah, we
165. 6:54wanted to see it come a little bit
166. 6:56deeper into this area and it didn't
167. 6:58reach there, but nonetheless, it reached
168. 6:59into the area that we were looking for
169. 7:01in general. Now, it is a pretty large
170. 7:03area obviously, but the way that these
171. 7:06zones work, if you watch the other video
172. 7:09about premium and discount is these are
173. 7:11all separate levels. So, this is level
174. 7:12one, this is level two, and this is
175. 7:15level three of this DLP that I have. I
176. 7:18call it a DLP. So, when we came into
177. 7:21here at open, I should have been
178. 7:23watching for us to come higher.
179. 7:27Now, the problem that I'm having is that
180. 7:30I'm marking out these plans in these
181. 7:34areas, and for the most part, they're
182. 7:36pretty good. And when I follow that
183. 7:39plan, I seem to do pretty well. Now,
184. 7:42when I when I have the plan and then I
185. 7:46go against what my [ __ ] plan was,
186. 7:48then it becomes a problem. Okay, so
187. 7:50that's basically what happened today. If
188. 7:52I'm watching this area for a potential
189. 7:56bounce, I should not be taking shorts in
190. 7:59here unless we start to get below it and
191. 8:01accept value lower. I shouldn't be
192. 8:04taking shorts here. And this was kind of
193. 8:06like a recurring theme of stuff of what
194. 8:09was happening this week. I mark out my
195. 8:12analysis. I mark out what I think price
196. 8:14should do. We'll say for the most part
197. 8:17it was pretty good. And then when it
198. 8:19comes to the intraday trading, I'm
199. 8:21making mistakes in my execution because
200. 8:24analysis is not what gets us paid.
201. 8:26Execution is what gets us paid. So
202. 8:29that's one of the biggest problems. So
203. 8:30heading into next week, I got to make
204. 8:32sure that when I decide on my pre-market
205. 8:36plan that I stick to the plan. I don't
206. 8:40try and anticipate movement. I don't try
207. 8:42and predict movement. I just watch where
208. 8:46I think I should be paying attention in
209. 8:48terms of location and then based off of
210. 8:50how price is going to react. Then I can
211. 8:54make decisions. I don't make decisions
212. 8:57before I see how price reacts. I need to
213. 8:59make decisions after I see how price
214. 9:01reacts. So that was a problem. Another
215. 9:05problem that I had this week was what I
216. 9:07mentioned in the beginning of the video.
217. 9:09I've been like trying to milk this
218. 9:11account that I have with Topep, right?
219. 9:13So, they changed their live rules. I had
220. 9:16a fat balance in here. It was like 26K.
221. 9:19Technically, I'm on like a 31day winning
222. 9:22streak or whatever. Um, and I'm like
223. 9:25trying to keep the win streak going, but
224. 9:27then I'm taking these small days. Like,
225. 9:31yeah, this might look good. Okay, we
226. 9:33have a full screen of green. Sure. But
227. 9:36in reality, it's not good. The reason
228. 9:38why it's not good is because look at how
229. 9:41much I'm stopping at. And this is the
230. 9:44reason why I'm stopping at these numbers
231. 9:46is not because the market stopped giving
232. 9:48opportunities that day. It's because I'm
233. 9:50trying to lock in winning days. And the
234. 9:52issue is because I'm trying to milk the
235. 9:54account. So after basically the end of
236. 9:58uh January, I switched my mindset from
237. 10:02normal trading, right, and how I usually
238. 10:05try and approach funded accounts to a
239. 10:08very protective mindset of just trying
240. 10:10to extract all of the balance out of
241. 10:12this account as quickly as possible.
242. 10:15Then what what ends up happening is now
243. 10:18my brain is getting accustomed to trying
244. 10:21to lock in these $200 days.
245. 10:24Yes, it makes sense because I need to
246. 10:25get the money out of it. But now that
247. 10:27we've gotten the balance down, I need to
248. 10:30we got it down to like 10K or 11K. I
249. 10:33need to change my mindset back because
250. 10:37what am I going to do? Am I Am I going
251. 10:39to stop like trading at the $200 mark
252. 10:42cuz I locked in the day, but on the day
253. 10:44before I even make money, I'm willing to
254. 10:45lose like 500. How does that that system
255. 10:48is [ __ ] How is that going to make
256. 10:49any sense? I'm allow one losing day to
257. 10:52take out two winning days. That's not
258. 10:54how I grew the balance. That's not how I
259. 10:57grow any of these balances. The winning
260. 10:58days need to be larger than the losing
261. 11:00days. And so, yes, I haven't lost
262. 11:04necessarily, but that's not the point.
263. 11:06The point is that I'm I'm using a system
264. 11:09right now with risk management in my
265. 11:12account that's not healthy. It's not
266. 11:14healthy for my account. And then I'm
267. 11:17like I think I'm letting the the win
268. 11:19streak like kind of get to my head a
269. 11:21little bit and then I'm like hesitant to
270. 11:24take trades on stream. I don't know why.
271. 11:29And then like I'll get off stream and
272. 11:30I'll take my normal trades and it's
273. 11:32because like I'm answering questions and
274. 11:33like but I need if I'm going to stream I
275. 11:35need to get used to that. So I'm working
276. 11:38on it. I'm working on it. But overall
277. 11:41the main takeaways from this week is yes
278. 11:43we are green. That does not mean it was
279. 11:46a good week. Would I classify this week
280. 11:48as a good week? No, I wouldn't because
281. 11:51execution was off and P&L result does
282. 11:55not dictate whether or not it was a good
283. 11:58day or a good week or a good month. My
284. 12:00execution has been lacking. The analysis
285. 12:03has been there and then I'm going
286. 12:04against my own analysis. So, it's like
287. 12:07kind of [ __ ] things up a little bit.
288. 12:09And to a certain extent, obviously, I'm
289. 12:11just getting lucky. I'm just getting
290. 12:13lucky sometimes because when the
291. 12:15execution lacks, I'm opening up myself
292. 12:19to bad situations. I'm moving to break
293. 12:21even too quickly. I'm just scared about
294. 12:25not getting the $200 day. Maybe I'm not
295. 12:28I'm scared about losing the winning
296. 12:30streak. Like I shouldn't be thinking
297. 12:31like that. Like that's just like [ __ ]
298. 12:33ass mindset. Like that's we're not going
299. 12:35to do well trading like that. We're not
300. 12:37going to grow these accounts. We're not
301. 12:39going to do a good job. And also
302. 12:41something else I started doing recently
303. 12:42is I'm copy trading like all my accounts
304. 12:44at the same time which I think might be
305. 12:47taking a slight mental toll because I
306. 12:50see the numbers right like today yeah
307. 12:51I'm up $900 times eight accounts I'm up
308. 12:54over like six,000 something dollars
309. 12:57almost $7,000 on the day and that's
310. 13:00great but then when I'm down then you
311. 13:03see you're down like five grand six
312. 13:05grand of them are funded accounts three
313. 13:08of them are eval
314. 13:09The three evals are halfway done. The
315. 13:12five funded accounts are healthy
316. 13:15and they got full draw down. So
317. 13:20heading into next week, here's the plan.
318. 13:22I need to stop being a little [ __ ] I
319. 13:25need to stop making mistakes and then
320. 13:30getting off stream and going off into my
321. 13:32little corner where I just lock in. I
322. 13:33don't have to think about anything
323. 13:35except for just trading and then like
324. 13:36really that's where I make my money.
325. 13:38That's not fair to people who watch my
326. 13:40stream and it's not how I want to do
327. 13:42that. So, I got to stop doing that. Um,
328. 13:44even though I [ __ ] did it today,
329. 13:45yesterday, and the day before. And when
330. 13:48I have analysis that I have or a plan
331. 13:50that I set up pre-market,
332. 13:53I need to stick with the plan and I need
333. 13:56to get my mindset away from just these
334. 14:00$200 days. I did my job. I did it. I
335. 14:03extracted the money. I got it out the
336. 14:05account. Great. Now, let's get back into
337. 14:06the growth mindset, not the protective
338. 14:09mindset. So, what I need to do heading
339. 14:11into next week is I need to buy more
340. 14:12evals. I need to prepare myself for the
341. 14:16beginning of March to hopefully start
342. 14:19the month with like 10 or 12 funded
343. 14:23accounts. And then I'm no longer going
344. 14:25to trade them all at the same time
345. 14:26because it's honestly not a good idea.
346. 14:29And we're going to break them up into
347. 14:30groups and I just need to keep the
348. 14:32momentum. So, this week pulled about
349. 14:35$4,500
350. 14:36out of my account. We had all green days
351. 14:40on this account, but we did have one big
352. 14:42losing day. I believe it was actually
353. 14:46Tuesday. I believe Tuesday or Wednesday
354. 14:50was the day where I blew three funded
355. 14:51accounts. They really didn't have a
356. 14:54balance on them, so it's not that big of
357. 14:55a deal, but I did blow three funded
358. 14:57accounts with Topep, which was kind of
359. 14:58painful. And it was literally only
360. 15:01because I didn't have a stop-loss, which
361. 15:05is [ __ ] I didn't have a stop-loss.
362. 15:09So, overall, because this entire week I
363. 15:12was copy trading everything, I don't
364. 15:14know where the P&L is for this week. I
365. 15:16can sit here and just take this account
366. 15:18and times it by eight. But is that
367. 15:20honest? Not really, because some of them
368. 15:22are evals. Okay? So, we're not going to
369. 15:23do that. We're not we're not going to
370. 15:26[ __ ] even talk about P&L because
371. 15:28there's evals involved. That [ __ ] does
372. 15:30not matter. It was P&L wise, okay, but
373. 15:34psychologically and executionwise,
374. 15:37it was very subpar. And I'm really not
375. 15:40that happy with how I traded this week.
376. 15:42We did take $4,500 out. Great. Next
377. 15:45week, I'm going to try and take another
378. 15:47$4,500 out after the split, obviously.
379. 15:494,500. And then we're going to try and
380. 15:52grow more accounts. If I can take a
381. 15:55payout next week, it'll put us at about
382. 15:57$20,000 in payouts after split uh from
383. 16:01Topstep. And so far, I've only paid like
384. 16:04$1,500 in evaluation fees across all the
385. 16:07firms. I'm going to up that number
386. 16:09because I'm going to use the profits to
387. 16:11then try and scale to more funded
388. 16:13accounts and prepare myself for March.
389. 16:16Uh but yeah, so that's that's my thought
390. 16:18process on this week. Not bad, not good,
391. 16:21but we can do better. And we will do
392. 16:23better next week. So, I'm going to go on
393. 16:26a trip. I'll be back on um Thursday
394. 16:29morning. I'm going to Florida. So, I
395. 16:32won't be able to stream. I won't really
396. 16:33be trading as much. There's probably
397. 16:35going to be days here where I don't
398. 16:36trade. And I will catch you guys next
399. 16:39week. Ace.