The Goal I Am Focused Most On
I want to slowly build a buffer in my sim funded account, and make it to live funded.
Highlights / Wins To Celebrate
- I passed one of my assessments on Monday! Now in a sim funded brokerage account with The Futures Desk!
- Passing the assessment took longer than I thought it would. At the same time, it taught me that trading isn’t quick and easy. If it was then everyone would be making quick and easy money.
- I made $720 in the sim funded. I need to get to $3,000 to transition to Live Funded.
- I have to stay patient, and take it slow. Making $720 with $3,000 in initial drawdown is a 24% return if I did the same with a personal account. I could go slower and still be happy. I can scale up when the account size supports it. I am trying to base my expectations at making the $3,000 target over multiple weeks. If it happens sooner then great, but I should have realistic expectations and not rush it.
- Making thousands per week can come later, when the account size supports it. I have to earn it first. My goal is to get there, even if it takes longer than I first thought.
- I ended my week early on the funded account, and did not trade it on Friday. This is a habit I want to practice more often. I’ve read elsewhere that I shouldn’t do this (trading my P&L maybe). However going into the weekend with a positive week works wonders for my trading mindset and mental health. It’s a healthy habit for me.
- I am still working on a second assessment to get max allocation. At first I thought it would be a waste of time, but now I realize the best use case for it.
- IF I make it to Live Funded (hopefully), there will be a period of time that I will have to wait for the prop firm to interview me, do paperwork, and actually set up my Live account. I can continue trading the sim assessment or sim funded if I have one while I wait.
- I also want to pat myself on the back for sticking to one prop firm, and being okay with limiting myself to only a few accounts.
Lowlights / Things To Work On
- Even though I said in the above section that I am trying to base my expectations at making $3,000 over multiple weeks, I am also fighting my prior experiences at other prop firms. I used to try makin $3,000 in two days in a Topstep Combine, then making it again in a single day in their Express Funded Account.
- Admittedly, this causes frequent blowups. I know this and I want to avoid this.
- I had some good runups in a short period of time at other firms. I need to let go of those experiences, or understand that it comes with the risk of starting over. I need to move on from the boom and bust cycle.
- I didn’t trade my new funded account on Friday to end the week in profits, but I did trade my open assessment and my personal account. In the long run I will be on a single account. I wonder if I actually can stop myself from trading when I’ve “made enough” for the week when I am in a single account. I need a solid way to stop for the week, and other projects to direct my attention to when I’m done trading.
Top Lesson
“Slow is smooth, smooth is fast.”
This one is staying up for another week. I need to make my journey smooth. The best way to do this is for me to take it slow. I tried to slow down and suddenly found myself ahead. Funny how that works!
Trading Week Grade
I give myself an A. I had a good week overall. Passed an assessment account on Monday, and ended the week profitable.
