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I thought I had posted the 18th, but I guess not. +$574 for the day. I started out +$390 for the morning, and wiped most of that out with a couple of trades after the FOMC came out. Eventually was able to get trading in the right direction for a short, a bounce, and then another short.
Honestly, the way I started out, I was really doubted whether or not I'd be able to pass this one. But I slowly climbed out of that hole, day by day, and finally hit my profit target.
I was determined to pass the combine today and perhaps overtraded a bit. Again I started shorting in not the best trade locations, but was able to scalp around the bounce up to the top of value and get a few ticks.
Again, I made a series of poor long entries before the market got to the 17300 level, that I had to exit for losses. I was finally able to get to a couple of decent entries near 17300. Exited one for +15, the next for +30, and the last lot for about for +58 (almost exactly what I needed to get to 31,500).
Now comes FTP. The last time I had one I blew it up on the first day! I think I will start out a bit more conservative this time.
Thank you! FTP is Funded Traded Preparation, the last step before being funded. I have to trade the product that I was profitable in for the combine, YM. The profit target is 1/3 of the combine, $500, but I must have a positive balance after 10 days to continue trading, and I have up to 60 days to meet the target.
Thanks, I appreciate it. Unfortunately, the first day of FTP was a losing day. I didn't break my loss limit though, so I'm still in the game and tomorrow is another day!
The only positive today was that I stopped before I hit my loss limit. I was totally out of sync, but recognized it early and stopped for the day before I did too much damage.
I was considering not trading today, because I saw that it was a trending day and I have problems trading these. Today especially was just a slow grind upwards, and it was hard to spot a good place to get long.
I probably should have stayed on the sidelines today. If I wanted to short, I should have taken quick scalps at previous resistance levels.
Hopefully today is a learning experience, and I get better at trading trend days. Part of the problem is one of my rules is waiting for half an hour after the open to see how the market is. On these types of days, you miss most of the move if you do that, and if not, it's really hard to find a good entry.
Today I had a long bias and wanted to take a trade WITH trend, and was able to do that. Bad thing was I exited way too early and accidentally got short. I then compounded this mistake by not exiting right away, and tried to salvage the trade a few times by adding to my loser.
Finally I was able to get long again with two lots and got +45 ticks on the 2nd lot.
Later I had a poorly located short which I had to trade around again before getting 20 ticks on my last lot.
I had some good trades, but still making too many mistakes.