Sold 31 took 5pts profit. (5P) Could have made my 15pts daily target. Why I am always cutting my profit short ?! Seriously ... Price did print 15. Looking to short ~835 Today looks like a reversal day. Short 22.5 Out -2.5 (2.5P) Alright I am going to wait for the open in 15min Long 22.75 Out +1 Tick (2.75P) Short 24.75 Out +2.25 (5P)
Went long multiple times. Took small profits as usual I even took a small little loss LMAO Could have been up my target (as usual) But I've made 10Pts Going to call it a day. That ES was unstoppable. Made almost 2/3 (1,900/3,000) of the profit target in 1/4 (5/20) of the time. I won’t be able to pay 149$ to activate the Express Funded Account until October 5th. If I hit the target before then I’ll continue to trade but sim’s sim . Looking forward to withdraw the 50k from TST. Hopefully in February, March 2025. Let’s see. Then I’ll show @SimpleMeLike how to actually make 200,000$ a month ~5pts per day x 40 contracts x 20 days Wish you a nice weekend.
This has been a problem for me too. My intermediate solution was to set a fixed take profit for the day based on taking a profit of approximately 50% of whatever the current 5 minute ATR happens to be. It isn't perfect by any means, but it allowed me to stop beating myself up for not holding for larger targets. If the plan is a fixed take profit based on some objective math, even though it is objective math arbitrarily chosen, it let me off the emotional hook. I didn't realize that this was your journal or I'd have started following before today. I am trading a funded account with TradeDay. Starting yesterday I also added a Topstep combine to my plate. I have no idea how the multiple account thing works, but @Laissez Faire has me intrigued. It is also an opportunity for me to do some much needed work on myself with respect to trade management for larger take profits. The first two days have gone well. I am only trading MNQ for now, and will grow into the NQ. I see you chose to continue to use Sierra charts for the combine which are what you are used to using. I decided to use the TopstepX platform as an additional buffer between my Topstep trading and my bad habits. I mention this because while it is only a 2 day sample, I have found the "change of scenery" to be conducive to allowing me to feel more comfortable in working for larger profit targets, letting open profits stop out on a trailing stop. It might be worth considering leaving the comfort of your favorite platform for a different platform? Just an idea to ponder and not meant as some sort of know-it-all recommendation. Good luck, @Sekiyo!
No worries, I understand that Other People’s Journal might not be interesting. Thanks for sharing your valuable insights ! Nice to hear you have a funded account with TradeDay! Didn’t know about them. You can trade up to 5 TST accounts thanks to copy trading from the leading account. I’ve done it with APEX and it’s pretty straight forward. The only caveat is if you use limit orders. They might be filled on some account but not on others. After hitting the 50k max profit / withdrawal, TST can move you to a live account. You have the possibility to withdraw only 50% (25x5) and they merge the remaining into a single, live funded account. Which is still more handy than 5 accounts But they take 10% off every withdrawals (first 10k is free) therefore I’d rather move the money into my own account. As for the platform … I’ve used CQG, X-Trader, Rithmic, Ninja Trader, Tradovate and Sierra Chart. Well … I just like SC better and dislike Tradovate for being toyish and I believe TSX (TopStep X) is based on Tradovate ? Glad to hear that you’re making progress on this “cutting profits short” issue. Thank you for sharing some of your tips ans tricks. A TP based on PA such as 50% of the current 5min ATR is smart and interesting ! Acutally I always have a “best case” take profit which might be 15pts away, along side my Stop Loss, when I enter a trade. I have seen my average time within a trade is +3min but in real time, it feels like infinity. The problem is every time the price stalls or start retracing (Even for a higher low) then I lose patience and take profits. Most of the time (sometimes) the price continues in my direction. Then I chase “higher” (riskier) price to get another entry … The way I should do it is to trail my stop alongside the reactions. Then either the market hit my “Best case” TP of my Stop Loss. I should not touch the TP nor the Exit button. Maybe I can code this within SC ?! I just have to train myself more, remind myself of all the occasions I’ve sabotaged myself and be more patient within a trade. Maybe I should buy a rubik’s cube. While waiting for PA to unfold. Thanks for sharing ! EDIT: Maybe I should lower my “Best case” TP to 5, or twice the average loss, then increment it (7, 9, 12, … ) over time. To make it easier, to begin with, to stick with the TP. Nice to discuss about this.