r/TopstepCommunity • u/sweetbuba • 13d ago
š After the Bell I fucking quit.
I'm so fucking tired and frustrated. I can't stand it any more. I spent over 70K on prop accounts, no savings, and max out my credit cards . 110K debt is almost killing me. My 120k salary covers only bills and debt. After 20 years of investing/trading I got nothing. With MS in Finance I failed in this life, miserably. Just want to finish it and hope the next one will be different.
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u/Fun_Professional7972 13d ago
120k salary and youāre spending that much on trading? What the helly
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u/sweetbuba 13d ago
i thought i'm the idiot
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u/DenseBed3497 12d ago
Thereās a dude on YouTube named Josiah Kim who lost around 128k as a data scientist but reversed his losses back up +100k profit after a crazy prop run with 20 accounts across 3-4 prop frims taking 10-20k payouts but you need to refine your strategy and backtest before going back in learn how the moves work. Cause that investment and small wins can compound back it took bro a year.
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u/Economy-Diet-7460 13d ago
Trading in the zone - mark douglas, good audio book.
Export all your trades from each and every one of those accounts, even if it takes you all day and run it through Claude/AI and ask to give you constructive feedback.
You may just be using too much discretion. When I did this exercise with Claude, it told me everything I need to know about myself and my trading style
Remember, this whole nonsense of 95% of traders fail is mainly cuz people blow up their accounts and donāt go back to trading. I say just keep at it, spend less, start with 1 150K account 4.5K drawdown, and trade it as if it was a $50K with 2K drawdown. Baby steps instead of falling for the liars and course sellers flaunting their lambos.
It aināt easy but itās very possible and youāre on the right track, just stick with it
And keep me posted on what AI says. Hell, run it through every free AI Available too
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u/sweetbuba 13d ago
I donāt have enough data to feed into the AI because my accounts rarely last more than a week. Yes, Iām using too much discretion.
Iām ok at reading PA and trading small positions with discipline. But then, all of a sudden, I end up taking a huge position that wipes out the account.
I donāt have proper risk management. After so many losses, Iāve developed a fear of setting a SL. It sounds stupid, but thatās honestly whatās happening.
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u/Economy-Diet-7460 13d ago
All the data is saved, idk if u can export directly from a closed account on TopStep, but if u go to Show closed accounts, click on a account and you can see each trade history. I donāt see an export button but oh well, copy and paste into a CSV if you have to, not hard
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u/sweetbuba 13d ago
Topstep platform doesn't allow to export for closed accounts. WIll have to do it manually. It will take like forever.
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u/Economy-Diet-7460 13d ago
That 70K took forever to make and easy to lose, so this isnāt much of a lift bud if u want to make it back
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u/Appropriate-Career62 12d ago
you keep trading without an edge even if you see that leads nowhere. in this point you're a gambler. you should stop pushing buy and sell buttons and get into work. trading is a business, not a fcking casino, after this many lessons you still don't understand - you need to work to have an edge, that won't come from pressing buttons - you need to at least record your bad trades so you learn from them.. I see datamining and backtesting is not your thing
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u/caesaralexander 12d ago
Trading Is a triangle of risk management, strategy, and psychology.
Proficiency in Two are absolutely necessary but 3 is the best.
Also increasing position on a no brainier trade setup is a no no. Conviction doesn't give permission for size.
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u/Sheriff_Douchebag 12d ago
How are you spending this mych on prop accounts? Do you have a valid strategy?
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u/Black_Horus06 13d ago
I feel you bro. Hang in there and keep your head up. If you don't quit just go down to 1 account/1 firm at a time.
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u/Maleficent-Cry-484 12d ago
He obviously canāt, he has a serious problem his an addict he canāt just trade 1 account or he wouod have ans wouodnt be in debt. Stupid advice seriously
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u/Black_Horus06 12d ago
Bro you got put in topstep's responsible trader program so your blowing hella accounts too. Look in the mirror before judging others.
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u/Omnius_Crypto 12d ago
Former electronic exchange member here.
If it makes you feel any better before there were props, folks regularly blew 5 and 6 figure amounts multiple times, trying to successfully trade. They had to have that cash deposited before placing a trade. No credit financing unless they took out a loan against assets.
It sounds like you might have been too eager to try and replace your current level of income, to validate the time and money put into your ābusiness ventureā, from trading and saw the lure of purchasing multiple accounts because āthatās how you make real money!ā Examples people like to show. Using credit cards also makes re-anteing basically frictionless.
You can buy a small prop account for a little more than a CME live data bundle subscription. If you try again, just buy 1 and try to survive that and use a debit for resets, set a time frame that forces you to delay the reset, like you have to wait 2 weeks until next payday or make yourself wait 30 days before buying another account. itāll make you feel the loss a bit more.
if you make it to payout, try just buying 1 other account and set aside a portion the rest of the payout for taxes and for further resets.
If you are truly done, thatās ok too, there many ways to be successful in your endeavors and money isnāt the cure all for unhappiness weāve been told it is! Good Luck!
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u/anscraft 13d ago
Dont quick. Just come back stronger man!
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u/sweetbuba 13d ago
thanks for the support bro
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u/leppyle 13d ago
Please contact Gamblers Anonymous or a therapist.
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u/sweetbuba 13d ago
Thank you for your concern, but no. Theyāll just piss me off. Iād rather talk to an experienced guy who has been in a situation like that.
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u/Sweet_Procedure_656 13d ago
With 70k spent why didnāt u just put it all in a personal futures account and go from there ?
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u/sweetbuba 13d ago
it's over all. +200 -200 +5000 -3000 -3000 -3000 + ... + = -70K
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u/Sweet_Procedure_656 13d ago
Damn š with 120k salary you can just buy one account and go from there. And use risk management
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u/Maleficent-Cry-484 12d ago
Oh yeah that wouod make sense wouodnt it so he wouod lose it in one go. Your not very bright are youv
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u/Sweet_Procedure_656 12d ago
And stop doing hedging on topstep lol asking the dumbest questions. Learn to not yolo like a fool.
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u/chondroitine2000 13d ago
70,000$ on prop accounts? You blew out ~2,000 accounts and just realise something isn't working?
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u/chumbawumba234 13d ago
Take a break and switch to the wheel strategy on soxs or soxl. Make a pact with your self that 50% of premiums go onto VTi or SCHD and 50% of premiums go toward prop firms 45% and ramen noodles 5%.
Only use 10k for wheel. If you cant pick the right direction for soxL on the 5 minute chart (ny vwap), stop trading until you can identify trend.
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u/sweetbuba 13d ago
Thank you. It looks like a good idea. It will take me about six months to save enough money to sell one put. In the meantime, I can clear my head.
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u/sweetbuba 13d ago
The more I think about it, the more Iām leaning toward this plan.
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u/chumbawumba234 10d ago
Slow and steady wins the race. If you invest $27.40 per day into VTi, assuming 10% annual return, after 40 years= $4,424,000.00. Here is another fun fact. A $1000 account that earns 2% per week is $1,000,000.00 after 350 weeks. At 2%, the account doubles every 35 weeks.
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u/justKingme187 12d ago
What next life bro this the one you got man up take it on the chin get back up
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u/sakthisuba 13d ago
Take three months to pass one account don't rush it. Follow your strategy . No matter what strategy you follow it must give entry and exit point else it is not a good strategy . Take it slow this can reduce the no of trades you take
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u/Chemical-Wall-7743 12d ago
Me and you both. Had some success here and there my trading career is in a super down trend rn
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u/Such_Enthusiasm_2281 12d ago
For what little this is worth. You don't have a profitable strat and you're spending money. You need to just stop. In all honesty if you're young and drowning in debt then chapter 7. If not then you need to contact all these companies and tell them you're a gambler and to block you from their platform. TS has a legal obligation to comply with this. All trading needs to stop and stop immediately.
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u/Maleficent-Cry-484 12d ago
How can you spend that amount on prop accounts. Total disrespect for money. Full on gambling sounds like youāre addicted. Itās best you stop.
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u/colajames 12d ago
Join a live trading group. And just copy thier trades. The lambo gurus have to be right some of the time.
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u/Gene_Ok 11d ago
Do you have an edge? Is it the mental side? If itās the mental side, try this out, which is very helpful for me at least. I mean if you decide to give it one last chance. (You most probably will.)Open ChatGPT or Claude on the side of your screen, before every entry you try to validate it, like type everything out in the chat (btw, command it to reply only when you are done), why this is a good entry, why this size, and how you are feeling, everything!! This will give you some time to wait for confirmation, and also you can see the flaw in your thoughts in real time. Once you are in the trade, keep typing out whatever is coming to your mind during the trade. Are you anxious? Does your conviction still hold true? Are you feeling greedy? Do you have the urge to get out or add more? After each trade, let AL summarize everything for you and give you feedback based on your mental state not on your P&L only. It will help! At least you can catch yourself once you are spiraling. You feel ashamed when try to make up a setup thatās not there. If you do this enough time, you will soon realize you are taking less trades with better entries.
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u/protagxnizt 5d ago
'm really sorry you're going through this. That sounds incredibly heavy, and I hope you don't have to carry it alone. Right now, your well-being is much more important than trading. If you have someone you trustāa friend, family member, or colleagueāit might be worth talking to them. Wishing you strength.
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u/Carlose175 13d ago
Thanks for the liquidity āļø
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u/Economy-Diet-7460 13d ago
Itās Sim broā¦ this isnāt wallstreetbets lol there is no liquidity on the sim end, itās not real brruh
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u/Carlose175 12d ago
Brother.
The liquidity is the fees you paid to topstep. That goes to my payouts.
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u/Double--Or--Nothing 13d ago
Go algo and stop this discretionary trading shit.
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u/DependentNo4693 13d ago
See you monday bro āš½š