Weekly Recap - Worst Week in a Long Time (Rebuilding the Funded Army) — Transcript

Full transcript

1. 0:00All right, what's up? It's Thrax. We are
2. 0:01back for another weekly recap.
3. 0:04Fortunately, I mean you guys probably
4. 0:06saw in the video before
5. 0:08this week I got absolutely cooked.
6. 0:11Just straight up dusted.
7. 0:14So, we're starting fresh.
8. 0:17We got to reset everything starting from
9. 0:20square one.
10. 0:22But, you know what?
11. 0:24It's all right. It's all right. We're
12. 0:27going to make a comeback. So, just to
13. 0:29get the numbers out the way, started
14. 0:31this week with like
15. 0:33500 accounts. They all had a balance on
16. 0:35them. One of them actually had like
17. 0:37seven grand on it. The others had like a
18. 0:39couple thousand. Then I had three evals
19. 0:42that were halfway done. I was copy
20. 0:43trading them.
21. 0:45Um and then this is the beginning of the
22. 0:47week. This week we have been having the
23. 0:49very large overnight ranges, which is
24. 0:52then causing a little bit of whiplash in
25. 0:54New York. Now, we still have high
26. 0:55volatility, so ATR on 5-minute candles
27. 0:58at New York open are still around like
28. 1:0160 points, 50 points. Makes it a little
29. 1:03tough for me to trade. Still got to So,
30. 1:06I have to size down.
31. 1:08So, we blew all of those accounts. I had
32. 1:10to buy new accounts.
33. 1:13Right now, I passed a Lucid account. I
34. 1:15passed a uh Express account with
35. 1:18Topstep, so we have two fundeds.
36. 1:21I'm going to have to buy some more. I
37. 1:22did blow a couple evals. So, I bought
38. 1:25maybe five evals. Passed two of them.
39. 1:28Blew three of them. One of the reasons
40. 1:31why I blew the Lucid accounts, the other
41. 1:33ones, is because I accidentally hedged
42. 1:37and I swear it was an accident. I tried
43. 1:39to essentially get into a trade. Let's
44. 1:41just say you were trying to go long. I
45. 1:43go long on one account and I set a I
46. 1:46thought I set a stop order to tag me in
47. 1:49on a continuation.
48. 1:50It actually ended up being uh a limit
49. 1:53order. So, it immediately basically it
50. 1:56basically went in the opposite direction
51. 1:58for about 5 to 10 seconds. I hedged and
52. 2:02they immediately took away all the
53. 2:04profits from that. Kind of put me on
54. 2:06tilt.
55. 2:07And I ended up blowing those accounts.
56. 2:08So, we got two funded accounts now.
57. 2:11Just so that you can actually see what
58. 2:13it's looking like is
59. 2:16we just started it on Thursday. So,
60. 2:19Monday
61. 2:20was an okay day.
62. 2:22Tuesday
63. 2:24lost like
64. 2:25basically majority of my accounts. And
65. 2:28then yesterday I blew $7,000
66. 2:31on
67. 2:35on my Express account. I was supposed to
68. 2:37pull a payout for like $3,500 yester on
69. 2:41Wednesday. We got just like cooked. It's
70. 2:44okay.
71. 2:45So, right now we're about $600 in on
72. 2:48fees for accounts. A little bit over
73. 2:51600.
74. 2:53And no payouts.
75. 2:55So, we got to lock in. We got to lock in
76. 2:57on this account. We got to lock in on
77. 2:59that Lucid account that we got.
78. 3:01Next week I'm going to be focusing a lot
79. 3:03on evaluations. It was a really rough
80. 3:05week for me. I haven't had that type of
81. 3:07behavior happen, like I said, in that
82. 3:09last video in a long time. So, my main
83. 3:12focus right now, when I'm rebuilding and
84. 3:15I'm back in this build mode,
85. 3:17is just to make sure that I don't let it
86. 3:19get out of hand because it's very easy
87. 3:21for somebody to essentially
88. 3:24lose all their accounts, try and rush
89. 3:25back to where they were at, ends up
90. 3:27causing a downward spiral, um and you
91. 3:30end up tilting and blowing a bunch of
92. 3:32evaluations, and then it just compounds
93. 3:34and compounds and compounds and it gets
94. 3:36worse.
95. 3:37So, we're going to avoid that.
96. 3:39This week in general was tough for me
97. 3:41for a couple reasons. There are times
98. 3:44where my strategy tells me I should not
99. 3:46trade. It just it it won't work. It
100. 3:49won't work out. And I know it won't work
101. 3:50out. And that's usually in compression
102. 3:54or consolidation or chop, you know,
103. 3:56something like this.
104. 3:58Or something
105. 4:00like this or this.
106. 4:04Or this.
107. 4:07Or this. These types of things these
108. 4:09areas
109. 4:11are the areas where I just get
110. 4:13absolutely wrecked.
111. 4:15And so, what did I do this week? Well,
112. 4:19I was trading that
113. 4:21Trading that
114. 4:23Trading I just I was getting wrecked,
115. 4:25honestly.
116. 4:27And the reason why is because large move
117. 4:29happened overnight. It's hard for me to
118. 4:31structure my trade ideas
119. 4:34when we have these very large overnight
120. 4:36moves. Because what do I typically want
121. 4:38to see? Well, I typically want to see
122. 4:40what we were seeing last week. Smaller
123. 4:42range, smaller range, large range.
124. 4:45Smaller range, smaller range, large
125. 4:47range. Smaller, smaller, large, smaller,
126. 4:49smaller, large.
127. 4:51See the pattern here? I like to trade
128. 4:52this.
129. 4:53Now, what do we see happening this week
130. 4:55week?
131. 4:57These overnight moves are huge. They're
132. 5:00not small. They're huge.
133. 5:03Causing all of these daily candles to be
134. 5:05pretty close to 500 points.
135. 5:07And
136. 5:08this is a daily time frame. We're just
137. 5:11snapping back and forth.
138. 5:13So,
139. 5:15overall the analysis though for this
140. 5:17week was decent. It was decent in the
141. 5:20sense of when I was saying my daily
142. 5:22outlooks on what I wanted to see, the
143. 5:24levels I wanted to hold,
144. 5:26certain things like that. But who cares
145. 5:28about analysis when you can't execute on
146. 5:30it because we don't get paid for an
147. 5:31analysis, we get paid for an execution.
148. 5:33So,
149. 5:34So, yeah. I mean, it's a quick one
150. 5:35because I think I went over a lot of the
151. 5:37stuff in that last video titled like I
152. 5:40blew all of my accounts or whatever. But
153. 5:43heading into next week, I'm really going
154. 5:45to be focused on trying to
155. 5:48build up my funded army again. Trying to
156. 5:52not let myself slip into bad behaviors.
157. 5:55And I need to I'm essentially starting
158. 5:58in a hole now this month, which hasn't
159. 6:00happened to me in a long time. So I got
160. 6:01to be careful about it.
161. 6:03But
162. 6:05we're going to do it. We're not going to
163. 6:06let that those two bad days compound
164. 6:09mentally. We're going to get over it. It
165. 6:11is what it is. We move forward. We
166. 6:13progress. We improve. And we fix the
167. 6:16issues that we have. Right now the
168. 6:18balance on this Express account is $938.
169. 6:21We're 2 days in.
170. 6:23I think I could probably get it up to
171. 6:26uh maybe 2 to 3 grand 5 days in and then
172. 6:28I can pull a payout that'll put us back
173. 6:30at break even or in the green for the
174. 6:32month. So that is the goal. I also have
175. 6:35that Lucid account. It hasn't been
176. 6:37activated yet. I got to activate it
177. 6:39later. We're going to buy more evals.
178. 6:41We're going to full port them I'm
179. 6:43probably calculated full porting
180. 6:46if that's a thing.
181. 6:48And we're going to try and get more
182. 6:49fundeds. I need to get back to like
183. 6:51three, four, five fundeds at first. Stop
184. 6:54buying evals. Focus on the funded
185. 6:56accounts. Pull some payouts. Get back in
186. 6:58profit. Take the profits. Buy more
187. 7:00evals. And then hopefully if we do
188. 7:02everything right it's still pretty early
189. 7:03in the month. If we do everything right
190. 7:07we don't even have to think about what
191. 7:09happened this week. We will be back in a
192. 7:11situation where we set ourselves up
193. 7:14for a good April.
194. 7:16Hopefully.
195. 7:18So we'll see how it goes.
196. 7:19If you are wondering about how I blew my
197. 7:22accounts or whatever, I go into more
198. 7:24detail in the previous video.
199. 7:26And then I will be live streaming every
200. 7:29day next week. So if you want to watch
201. 7:30me trade
202. 7:32please understand it's not financial
203. 7:33advice. Don't copy my trades. If you do
204. 7:35copy my trades and you lose that's your
205. 7:36fault not mine.
206. 7:37And uh
207. 7:39I'll catch you guys next time. Peace.