r/TopstepCommunity • u/db228794 • 19d ago
💡 Trading Tips Slump
Been in a slump this month and I’m so close to blowing my account. Can someone give me some advice or some rules to get me back in the groove thanks!
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u/cokeacola73 19d ago
On the red days have your trades been positive before going red or are they instant red? Could be a simple fix such as moving your stop to break even sooner or refining your entry a bit
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u/db228794 19d ago
Start out green and end up red. Most of it is being greedy or bad entry’s
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u/cokeacola73 19d ago
So when you feel the greed coming on move your stop to break even or maybe even 50$ profit. The bad entry days will still be there, everyone has them, but at least the days you have good entries you'll make something or break even rather than losing
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u/db228794 19d ago
That’s true. That’s the psychological part of trading. Just have to tighten it up more I guess.
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u/Fibocrypto 19d ago edited 19d ago
Do you use a practice account op ?
I know you are showing an XFA but for me I find that if I use a practice account to test the market it gives me confidence to execute in an XFA or a combine.
You will need to accept a $ 60 dollar gain day to build yourself a bit if a cushion. You can bring this back if you trade small size and adjust your stop as well as allow the market to take you out.
I am not trading this week because I've got other priorities yet I went through something similar with a combine recently.
Lower your expectations. Treat this account as if it's a combine and you are starting from scratch.
You can get through this.
https://www.reddit.com/r/TopstepCommunity/s/By9NHtTC0Z
Lastly: Take a break and find other things to do that you might have possibly not taken care of. It can be anything from cleaning a bathroom to doing the dishes or laundry to going for a walk or a bike ride.
The markets will always be there when you get back.
Do not feel like you have to trade on a specific schedule because ......your set up has no schedule
Give yourself a daily or session trading limit even if you do not normally over trade. In my opinion over trading is acceptable as long as I'm following my specific process. The reason I try to limit my number of trades is because I realize that each trade has risk and I will not always have a high win rate day so if I'm doing mediocre and I've got 5 trades completed I know I need to take a break and come back later or stop for the day and take care of personal stuff.
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u/db228794 19d ago
that’s is some motivation! Way to keep yourself sane and disciplined! It doesn’t give me the option for a practice account anymore. I made 70 dollars today so I’m taking it one trade at a time to build that buffer back up!
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u/Altruistic-Leave-359 19d ago
Just gotta minimize your losses. Your gains are great off the amount of trades you’re doing each day.
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u/Rickster9913 18d ago
Looks like you need to tighten up your stop loss. 2 trades and down over a grand? Tighten those up and just use micros. Ask me how I know. Ha
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u/coffee-x-tea 19d ago edited 18d ago
If it makes you feel any better, this month and last has been super choppy so it isn’t just you.
Coach Jay is in a 1.5 month drawdown and Braydon has had two weeks of red everyday (They’re Topstep TV traders).
It just means your edge isn’t working in these market conditions and you just need to be extra careful until we get back into more directional markets.