@Joeytrades11 You can trade up to 20k of static drawdown with the 200k account - that's the big appeal. Any profit over the initial account balance can be withdrawn every 2 weeks rinse and repeat. Plus you can hold overnight so swing friendly as well.
Big downsides are spread/slippage.
EOD drawdown is not realistic. If I start with 2k drawdown, make 1k in profits.
It doesn’t make sense why my new drawdown is now only 1k. Should be 3K total but you know why firms don’t offer static.
Obviously it’s to hinder traders just like trailing drawdown.
Thank you Jesus for bringing us to the last weekday, we are so grateful for your protection and never ending love. Holy Spirit please lead us on the right path today, and help us to make the right choices. May we go out and return to our homes safe by the grace of God.
Every word you wrote is exactly how I felt around 2 years ago.
I've been trading for 4 years.
2 years ago I wanted to quit my job because I managed to get a few payouts and I thought this is it.
Why should I waste my time at a job that doesn't respect me or values me.
I decided against quitting as I felt it might be wise to follow some advice that was given to me which was to keep trading and working build savings.
My aim was to help clear my mum debts which thank God I've achieved but also becoming full time trader.
What I've come to learn is that it's about balance and also be aware that trading is a long term game like a marathon.
You will have red hot winning streaks but if that's your first exposure and you are not emotionally ready to accept that they will be drawdown periods it can really impact you mentally when you then find yourself going through those phases.
When you're in drawdown. When you are losing challenge after challenge. When nothing seems to be working and when you are forcing trades it's at that point you feel the blessing of having a job and income coming in.
Whenever I have put time frame on things trading it never worked out for me. The reason is I'm setting up expectations of something like the market which is unpredictable as we have different situations that impact markets.
You will find even though right now it's making you feel like you have direction and a goal to work towards and that's firing you with motivation and desire to get the job done in the back of your mind it will create pressure and impact emotions.
Diamonds are created under pressure yes but you need to also look after yourself and find that balance.
Focus on the process. Things that you can control. Look to build some interests out of trading to keep your mind healthy.
They will be people here that tell you got this because it sounds so inspiring and yes it is but what will happen if you don't achieve your goal in three months.
If your answer is well I'm still going to be trading then I will ask you the following..why rush it then.
Sometimes it's not about only focusing on the end destination but to take time to enjoy the journey along the way. Keep going. Keep working towards your dreams but try not to put time pressure. It will happen when it's meant to be. Good luck and I hope you don't mind me sharing some of my life lessons here.
@Maxxx_Trades@GandalfTrader@312Freddyy Only one that has a 50% consistency rule is the starter plus account , the expert / starter accounts you can pass it in one day just lyk 👍
How much money do you really need to start day trading? 💰📉
If you're thinking of turning $500 into $500K in a month by following Reddit alerts, I’ve got bad news.
After 8+ years day trading, I'm uncovering the actual startup costs of day trading, what to expect, and how to set realistic profit goals👇
Trading is hard. Anyone saying otherwise is lying to you. No, you won’t get rich overnight. Yes, you CAN make a lot of money doing it.
It took me a lot of trial and error to become profitable. It took a lot of time on the charts. It took even more emotional/mental work.
If you are struggling, you’re not alone. The o my difference is the winners didn’t quit. That doesn’t mean if you do it long enough you’ll be profitable. What it does mean, is that if you’re willing to put the work in and make the changes necessary you CAN become profitable. It’s not a guarantee.
I’ve been with @Topstep ever since I moved from Options to Futures, and I started using TopstepX right when it launched. Despite having some issues with the platform, I overlooked them initially, as it was new and @MichaelPatak always made things right. However, lately, the responses to these issues have been disappointing.
I appreciate the new rules, the proposed changes, and the overall direction of the firm. But recently, whenever there are problems with TSX (which, despite its flaws, is generally a great platform), the responses tend to be generic and scripted, without any real resolution. I’ve had combines and XFAs blown due to platform glitches, and even though it’s cost me money, I’ve let it slide.
While they do sometimes offer a reset, for a combine, it doesn’t compensate for the time or the positive balance lost in an account. And I get it, if it was a personal account I would get nothing. But most brokerages are not using an in-house platform that they are responsible for.
Today was another frustrating day. Thankfully, I didn’t lose my XFAs, but one is just $70 away from MLL and the other about $1200. Support has asked me to pause trading until they can investigate the issues. Although this might take up to three days, which is quite inconvenient.
I typically avoid Discord because it can be distracting, but judging by today’s threads, it seems many other traders are experiencing similar issues. The fact that these problems aren’t being addressed, especially for funded traders, is a significant oversight.
I might need to consider other firms or possibly move away from TopstepX if I decide to stay with Topstep.
Making $200 as a trader feels like a small amount of money
but making $100 working a job feels like alot
this is because we correlate time to money
when you go to work there's a specific amount of time you are getting paid for
In trading you don’t get paid for time
You get paid for decisions
trading more does not equal more money
you could trade for 1 hour and make 10x the money you made at your job
that's why you dont value seeing numbers go up on a screen
It’s “easy” money
but you need to understand…
It may be easy but it’s the hardest easy money you’ll ever make.
I don’t care what your trading style is, I want you to win.
I’m completely over the toxicity. The only thing I care about is people winning.
Never let anyone tell you your dreams are invalid. As long as you’re still breathing, it’s possible.