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I successfully completed my $50k account 15 day trading evaluation with OneUp Trader , got funded with MES Capital, and just finished my second profitable week of live trading.
Here is the graph from my OneUp evaluation account:
As part of the 10 year anniversary of FIO, Big Mike started a journaling challenge, and I am in the race to get the most number of "Thanks."
If you like this journal, please VOTE for it! Every vote is important. Go [B][COLOR="Red"]HERE[/COLOR][/B] and click "Thanks" at the lower right of my post.
There's also the tax angle: The prop firms pay you as ordinary income, where your "micro method" will be taxed 60/40 here in the US -- a much better deal.
The market has been a bit BULLISH as of late (understatement of the decade.)
Do we plan on continued rising of prices because Trump and Xi kicked the tariff resolution can down the road again and the Fed said they will pause on rate increases? This is all funny money in my opinion, and my overall bias is to the downside. I still take longs, but I know that markets FALL faster than they rise, and I want to be there.
Here is my first trade of the day on YM. 11:10 am to 11:24 am NY time.
A short on the YM with $15 max stop in place. Rationale: Extended bounce that shows weakness.
Success with $7.50 gross. 26,717 to 26,702.
Based on the big drop afterwards, it is clear I got out too soon, but this kind of quick action helps me stay alive. Especially with shorts in a bullish environment.
Let's see if I can still get to the 1% goal which is a net of $10.50 today.
Done for the day. I committed to finish by 11:30 am NY time, so I am flat.
Net gain for the day is $6.72. That is like $67 on the YM. Over the course of a year (250 trading days), that would be almost $17,000 if I were trading the regular YM. They add up!