3/28/25 Funded Trader Status - Accounts & Balances: Combine 1(Passed); XFA 1(-$2000); Combine 2(-$2000); Combine 3($0)

 

So lets start with this right here from Tuesday, March 25th!!!

What a great feeling of accomplishment. I had, what I thought, a perfect strategy to reap in millions! LOL. Once I started trading this strategy I passed in 2 days. I was on my way!!

I immediately paid my $149 fee and received my first Express Funded Account(XFA1). I paid $49 more for a second combine(Combine 2). How could I lose?? I was already thinking about paying off my bills and buying a truck. If you follow this blog (Do I have any followers?) for the chance to learn from my mistakes and make fun of my misfortune...TODAY IS YOUR DAY!

• You know what? I am active several Facebook groups where I see new traders blowing account after account. Making the same mistakes over and over again. Trading without a plan or strategy. I always laughed because that could never be me. Hhhmmm???
  
  
• Wednesday, 3/26: I was excited all day at work and could not wait to get home to trade. I got home, walked Hardy and then sat down at the computer. At this point I have 2 accounts. One XFA and one new Combine with Rithmic copy trading set up. I jumped right in.
  
  
• I had 15 minute charts up from previous testing. I like to trade in the 5 minute chart. STRIKE 1!
• I didn't have Stop Loss or Take Profit parameters set for when I finally enter a trade. STRIKE 2!
• I disregarded all of the rules to my strategy AND all the rules for using the Ultimate A.I. indicator, which I also paid $297 for. STRIKE 3!
  Well this ain't baseball my friends but you can guess what happened. It wasn't long before I was $1000 in the red on both accounts. Dumb, dumb, dumb! Do you like apples? Well wow do you like them apples!!!
  
  
• Thursday, 3/27: I spent the entire day at work going over how I made so many mistakes and, more importantly, how I was going to rectify the situation.
• Wait for the right setup, follow the "rules". Trade smart!
• Play small ball. Take smaller profits and bank the money. Trade again. I lost $1000 in a day, but nothing said I had to get it all back in 1 day. I'm a grinder and happy to grind it out for the long haul. I wish I was as "tight" in my trading game as I am as a poker player!
• I ended up $450 to the good in each account! A good start to recovery and I was happy with my progress.
  
  
• Friday, 3/28: I was excited about trading when I got home from work, but has to work until 3pm so I would probably have to wait until Sunday at 1700 CT to trade. As chance would have it, I finished inventory work early and was home by 1400. Took Hardy for a quick walk and sat down at the computer. 
• Now for those of you that may be newer to trading, Fridays are not usually recommended. And the last hour of the trading day, regardless the day of the week, is almost always NOT RECCOMENDED! The volatility can be crazy and it's easy to get whip sawed on any given trade. I was quick, I was smart and I was lucky so within maybe 30 minutes, I was soon $1200+ to the good on BOTH accounts! You gotta love copy trading! 
• I had an ATM in place to place both a Stop Loss order and a Take Profit order for each trade. Now the ATM I was using was new to me and I didn't quite like everything it was doing. I told Hardy I was winning but with a tool I didn't 100% understand. I took him for a quick walk to settle down and breathe. Trading is a rush when you're winning. You should always have a number in mind that is your walk away number to stop trading. ALWAYS!! I, on the other hand, did not.
• I sat back down after the walk for the last 30 minutes of the market. Long story short, I ended up $2000 down in both accounts and blew them both. BACK TO SQUARE 1!

So here we are on Friday night, Back at the start. I ponied up another $49 for a Combine and Sunday at 1700 I can trade. Did I learn anything? I think so. Will I make the changes necessary to stay solvent in the long run? I think/hope so!!!

HAVE A PROFIT TARGET FOR THE DAY. SET IT AND LIVE BY IT. AS YOU GAIN EXPERIENCE, YOU CAN RAISE THE NUMBER. THIS IS A MARATHON AND NOT A SPRINT.

MAINTAIN TRADING DISCIPLINE. SET HARD STOP LOSSES AND STAY WITH THEM. DON'T MOVE THEM!

DON'T BE GREEDY! BE SMART AND LIVE TO TRADE ANOTHER DAY!

Well, I think that's out of my system now. I'll feel sorry for myself tonight and then tomorrow, it's in the past with a couple of valuable lessons learned.

As always feel free to comment, shoot me a note and pass this blog along to anyone else who you might think will enjoy it or maybe get benefit from it. See ya all on Sunday!

Peace!~