POV: Preparing for another week at Nasdaqistan

You will rarely need a better strategy. But you’ll always need better execution in your strategy. GM

Gf: “You made 2k trading just today? So like 60k a month?” Me:

When you finally get funded but it’s not even worth celebrating anymore

investors expecting a new bull run and getting depression instead

Trading teaches you patience by making impatience expensive. GM

THE MARKET FOR THE NEXT MONTH

Everyone waiting for another bull run right now:

If you’re trading prop firms and are stuck on evaluations for more than 2-3 months you honestly need to reconsider your whole approach to prop trading. Spending that much time just to GET funded, let alone the payout is just not worth the time. Challenges should be passed within a month or two, even less depending on the traders’ experience. Anything more than this raises the opportunity cost too much, while the reward stays the same at best.

“This setup looks good, let me increase the risk a little” The account 10 minutes later:

Investors after hearing “war will be over” for the 100th time this month

There’s a huge difference between trust in your analysis and attachment to your bias. One helps you trade better, the other destroys you.

When the “risky trade” was actually risky and you end up blowing the account

Me trynna figure out who tf we owe to

me if I had taken the opposite of every trade:

You can survive being wrong. You can’t survive refusing to accept it.

Life after you start risking 10% per trade

The point of funded accounts is to make enough capital with little investment to fund your real account. They’re not meant to be kept forever, and most firms will ban you if you make too much anyway. That’s why in order to succeed trading prop apart from a trading plan you need a risk plan and an expenses plan like regular businesses do. One that makes sense in terms of not only profitability but also time wise. For example, trying to get funded on a single challenge for 6 months doesn’t make sense. Opportunity cost is too big. On the other hand, blowing too much on challenges doesn’t make sense either. At that point, you should’ve jumped straight to live. You need a proper balance between those 2.

The stock market realising the Fed will cut rates again in October

Same with America at 4%

When the market stops out your long so you go short and it stops you out again: