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Starting this journal to hold myself accountable. I am trying to get funded through one of the many prop firms, because I do not have the funds to trade my own money at this time.
I have been very successsul initially but end up breaking one rule or another. My problem is not that the evaluation period is too short, its that its too long. Currently I am doing the leeloo express and have failed 4 times. twice I exceeded the goal in 2 days or less ($6000) only to lose it either the same day or the next because I continued to trade. THis is a serious psychological problem I have to deal with. Obviously Ishould just stop trading or switch to sm non-evaluation account. I should have just been able to micro in and out for the next 2 weeks to be funded but for some reason I had to push it.
The problem, I think, is the mentality I have going in the beginning is to take a large risk to get off to a good start. That has been successful, but once I am on the path to successI have to swith to a more conservative and risk averse method. I feel like a total fool and I will probably rightfuly get roasted here for this post but so be it. Hoping there will be some helfpul feedback.
interesting post, actually I make all the same mistakes....I always try to make a good profit to start the combine with a big gain and then things start to go south.
Don't worry you will get better. I have taken and passed many combines, but it takes time to solve this kind of problems...there is a huge psychological component mixed with technical stuff.
Well I decided to go back to E2T. I think the maintain consistency rule helps me. I hated it in my last attempt in January, but after huge gains in the Leeloo express evaluation, rather than quit, I kept trading and ended up giving enough back to be disqualified, even thogh overall I was still profitable. I think the maintain consistency rule will benefit me here by forcing me to stop trading while I am up or risk increasing my target profit goal, which I do not want to do. E2T also has great customer service.
I statrted a new $75k mini gauntlet last night and am up $984.96 on the day. I trade the NQ and MNQ, almost exclusively. I am done trading for the day. Best of luck to all traders.
I didn't stick to the plan and traded yesterday afternoon. I was sloppy and took a large drawdown, almost wiping me out day one.
I started trading small again this morning and got myself back quite a bit, but still at a loss from my opening balance. Also my traling drawdown increased by about $1K even though I took the big loss.
