I Don't Have Discipline
I had a good thing going, I really did. For the past 10 days or so, I have been trading relatively consistently, just building up a few hundred dollars at a time. My Topstep account reached a new high of $51.2k. Essentially, I made $1,200 in profit out of the $3,000 profit required to complete step 1. Being the impatient person that I am, I took a trade on mobile. Since this trade only had a 4 tick take profit, I didn't use a stop loss. The chart setup seemed to be in my favor as I took a look on my tiny phone screen. After entering the trade, I didn't monitor it (another mistake). I simply let it run and it eventually hit my daily loss limit.
Futures is another game altogether that requires constant monitoring of your account, charts, and trading opportunities. On an intra-day level, it's definitely possible to ride the upticks and downticks. What frustrates me the most is that the trading I do with my personal FX account and the mentality that I've developed playing poker seems non-existent as I trade this Topstep account. Everything seems to go out the window. With FX, there are some setups that I don't take at all if I see price being too choppy or if something just feels off. I don't know why I'm having such a hard time sitting out. Maybe it's because of the subscription model. It encourages you to trade "faster" in order to complete the trial and get your funded account. The more I try to trade faster, the more money I pay in account resets.
I'm currently debating if I should reset my account for the second time. Chalk the first two times to the cost of education. If I can't make my third attempt work, maybe I should call it quits? Maybe I should stick with FX instead as I'm able to be patient and take longer term directional trades.
I'm going to do it. I'm going to reset my account one more time. I really want this to work because getting a funded account with TopstepTrader is a step in the right direction to scale my own trading. With every withdrawal, I'll be able to reinvest it in my personal FX account. Before I let this ego rush to my head, let's start by passing Step 1 of the Combine....again.
More to come, hopefully not a rant.
Futures is another game altogether that requires constant monitoring of your account, charts, and trading opportunities. On an intra-day level, it's definitely possible to ride the upticks and downticks. What frustrates me the most is that the trading I do with my personal FX account and the mentality that I've developed playing poker seems non-existent as I trade this Topstep account. Everything seems to go out the window. With FX, there are some setups that I don't take at all if I see price being too choppy or if something just feels off. I don't know why I'm having such a hard time sitting out. Maybe it's because of the subscription model. It encourages you to trade "faster" in order to complete the trial and get your funded account. The more I try to trade faster, the more money I pay in account resets.
I'm currently debating if I should reset my account for the second time. Chalk the first two times to the cost of education. If I can't make my third attempt work, maybe I should call it quits? Maybe I should stick with FX instead as I'm able to be patient and take longer term directional trades.
I'm going to do it. I'm going to reset my account one more time. I really want this to work because getting a funded account with TopstepTrader is a step in the right direction to scale my own trading. With every withdrawal, I'll be able to reinvest it in my personal FX account. Before I let this ego rush to my head, let's start by passing Step 1 of the Combine....again.
More to come, hopefully not a rant.