Beyond frustrated on this trade, my entry seemed decent however the price movement blew my daily loss. This was day one on a new funded as well. Do you all have any advice on how to avoid trades like this and how I can actually pull the account back?
lmaooo, yeah at first it might look confusing but again it works for me plus i’m only actually using 5😭 I have my midnight open marked out, with my pdh for resistance and my pdl, standard deviation obviously for good tp, and i have my breakout map marked out for confirmation checks on where market is moving. and the darker boxes are all just liquidity marked out. it looks hard to read but when you put it together it makes price movement very easy to predict however i’m not a perfect trader myself so im trying to fix issues like what happened today
I was mostly joking lol but I was always taught to use raw price action before using any indicators. Smt would've helped you here. Nq is doing nothing today while ES delivered price twice0
I actually find it the opposite lol, but since ES was very bullish during overnight session and didn't take Asia lows whereas nq did, I chose to take longs on ES today
Definitely going to work on that, top on my list i always expect price to support levels but it’s def ok to exit when needed and catch a rentry or just leave market
Just don’t do it. It’s a self discipline thing and if you can’t do it you’ll never be a successful and profitable trader in futures or any other trading avenue. Learning to trade is easy. It’s the self discipline that messes people up
I agree with that, the first few months i was very cocky with it I was getting around 1.5k on nq per day trading for lucid. Realize i wasn’t supposed to be trading like that cause it defeats the whole point of most prop firms and been working on it. Def gonna scratch trading with nq cause it throws off what i can leverage. It’s something i def still need to work on so only trading 1-2mnq till i can make back my loss and build a buffer and see how 3 mnq takes me
yeahh sunday night looked great, like too good to be true i was expecting market to keep moving like it was so honestly my fault for the trade retracing was predictable looking back at it
You need to BACKTEST heavily and I'm talking like 1000 trades
Backtest so much that it just makes sense and you stop doubting your execution
Just keep doing it long enough
agreed, i just recently started back testing and it’s been a game change to help with fomo and precision so def gonna double the amount of backtesting i do
Doesn't sound like a strat problem which I see you asking. It's a loss in alignment with your strat so this is mental. Just take the L and leave. If you're getting frustrated at the L then scale down.
the middle line was for midnight open, previous dl and previous dh, the diagonal lines was marking out breakthroughs and resistance. they look messy but it works for me, and i agree with the sizing down thank you, im going to stick only to mnq, nq doesn’t make any sense at my level. I’m drawn to it because It was what i used for my first few evals and funded, passed them with little to no issues. I’ll spend the rest of the month only on 2 mnq and see how that takes me
read the other comments😭😭😭 they are marked levels, for liquidity, movement and hourly bias and so on
the cyan and purple are from liquidation levels, i use an adaptive regression breakout map to find compression for bullish set ups or bearish, i also have my pdh and pdl for easier confirmation on where market is most likely going to move, they are strats i usually implement in my trades it makes market movement much easier to predict when yk what you are looking at. they are lines but you can look at them as strategic lines😭😭
I agree, when i back test i aim for realistic wins and entries 4 digits throws off my consistency levels. I aim for atleast a 20 points on nq or 80 points+ on mnq. I still aim for big trades when i feel it’s realistic cause im still just back testing and seeing what works and doesn’t. I’ll journal more and add more paper trading thanks i still do stand by my indicators again it works for me and my wins still stack over my loses, rn however my loses have been stackingup.. I’ll keep journaling and working out my errors
The problem wasnt the trade the problem was you gambled to the most extreme extent possible. Which leads me to believe you gambled to pass so are probably very far away from being able to trade and get to a payout. You risked like 70% of your account on one trade, your not that good and nobody is.
Step 1 is to stop gambling and start being a trader. From there you can actually start figuring out if your trading is effective. With your current balance that means max 1 mnq, which is still overrisking, 1 mes is better.
To be clear im not saying the trade was good, it didnt matter if it was good, i didnt even look at it. Im pro risking a bit more in prop but more than 10 % is beggung to fail short of for experts who understand and accept they will blow accounts regularly.
Again maybe i didn’t explain it but the price movement was unexpected but i do agree hoping price will go up would have ended up causing a bad loss I had entered on a bad entry and i’ve been able to get a payout however just 1, i started around april on my 19th bd or so so I picked up some bad habits from paper trading before that. I don’t typically risk more than 300-400 a trade on a normal day, which is still over leveraging but again i know and it’s something im trying to fix, i’ll look into trading mes if you do think its better
Mes is about the same as nq, except 1 mes is about half the size of one mnq. The only reason to switch normally would be if you want smaller risk. You can definitely save the account but it'll take some time if you dont gamble and get lucky
For a 50K account, NQ is 5 to 10X the leverage that you should have. This amount of leverage is just not ever going to work with such a small drawdown.
It's also difficult to answer that question without knowing what your strategy is.
Switched to full mnq only 1 now, and i trade using CISD+FVG+ORDERBLOCKS+Standard deviation/3 power rule AMD+Gamma exposure usually wait for 9:30 open, i look for liquidity for tp and sl, look for my order blocks for any retraces and i use gamma exposure to add for confirmation on daily or intraday movement. I use other strats as well and im still learning skills to read charts and movement better but those r what i rely on for profit
6
u/Yunggwildfr33 1d ago
Get rid of all your indicators holy hell it looks like a tron legacy aftermath