Trading Paradigm

Train and Develop Professional-Level Trading Skills

  • ARTICLES
  • TOP RATED
    • Training & Mentorship
      • Tradacc Profile Method
      • TradeWithProfile Pathway
    • Funded Trader Program
      • Topstep Futures
    • Brokerage Platform
      • Edge Clear
  • FREE RESOURCES
    • Futures Trading
    • Active Trading (General)
  • FAQ
  • TRADING TRUTHS
    • The Fantasy Gap
    • Proper Expectations
    • Knowledge vs. Skills
    • Trading vs. Gambling
    • Entertainment vs. Training
  • TRADER PSYCHOLOGY
    • Natural Biases
    • The Mirror Concept
    • Self-Transformation
    • Failure is Feedback
    • More Mindset Articles
  • MARKET EDGE
    • Volume Profile
    • Expected Value Formula
    • Asymmetric Risk-Reward
    • Trade Tracking & Review
    • More Edge Articles
  • SOCIAL MEDIA
    • Twitter
    • YouTube
    • LinkTree
  • ABOUT
  • FREE FRAMEWORK COURSE & INTERACTIVE COMMUNITY → BECOME A CONSISTENTLY PROFITABLE TRADER

$150K Topstep Futures Funded Account Challenge: +12pts/+$600

November 28, 2022 By Matt Thomas Leave a Comment


11/28 Trade Review → +12pts/+$600 Total Gain on 5 Trades:

First of all, for those of you who celebrate – I hope you had a Happy Thanksgiving. For me personally, it was a nice long weekend spent away from the screens with family and friends. But I’m always excited to get back to it.

Here’s a screenshot of the day’s action. I marked one large rectangle on the chart that encapsulates the five trades I took today. I tried to box off and numerically label each individual trade separately like I usually do, but it made them extremely difficult to see.

Topstep Funded Account Challenge - 11-28

|Start With a 14-Day Free Trial and Then Join Me in a Topstep Futures Combine|
|View All Daily Trade Reviews For My $150K Topstep Futures Funded Account Challenge|

For clarification on my entries/exits: a green triangle on the chart represents a “buy”, a red triangle represents a “sell”, and once both a buy and sell are completed – a green or red line connects them to indicate a profitable or losing trade, respectively.

1. TRADE #1: Long at Initial Balance Low → -4pts/-$200

Took a long at the IB low right after the first hour of trading wrapped up. It bounced at the level for a few minutes looking for support before ultimately falling through the IB low for a small loss.

2. TRADE #2: Short at Initial Balance Low → -3pts/-$150

After getting stopped out of my long position on a relatively large red candle and then the market holding below the IB low for about 10mins, I switched my bias from long to short. This particular trade hit my stop, but it set the tone for the rest of the session.

The market held below the IB low for nearly an hour and was clearly building value lower. So from this trade on, I was stalking short entries. The volume point of control (VPOC) eventually migrated down to about 3995 (outside of the IB range).

3. TRADE #3: Short at Initial Balance Low → +6pts/+$300

I took another short at the IB low looking for acceptance back below the IB low. This trade didn’t look great for the first 5-10mins, but then eventually broke to the downside. Keep in mind that there was a Fed speaker around noon which added some volatility.

4. TRADE #4: Short at Initial Balance Low → +5pts/+$250

After some volatile movement down and then back up, the immediate rejection of the up move and reversal away from VWAP gave me confidence in another short attempt. I entered right below the IB low and locked in another small gain.

5. TRADE #5: Short at Initial Balance Low → +8pts/+$400

On a return back to the IB low, I took yet another short looking for it to act as resistance. The market floated right below it again for about a half hour before eventually dumping. I locked in a decent gain, but there was room for much more.

These are the trades (the 2-3X+ R/R opportunities) that I need to take advantage of in order to lift my equity curve. Much of the time, I’m taking small gains/losses just waiting for these opportunities to occur – so I have to capitalize when they present themselves.

Overall – Best Daily Result Yet Since Documenting This Topstep Challenge:

Since I started documenting my daily Topstep Funded Account Challenge results on 11/18 – this has been my best daily result (+12pts/+$600). But it’s not about the outcome of one individual day. It’s about making good trades over-and-over again.

There’s a lot of short-term randomness at play in markets – which can often reward bad trading and punish good trading (on a short-term basis). But over the long-term, real edge will play itself out thanks to the law of large numbers.

What is Profile Trading - Volume Profile and Market Profile

The strategy that I’m implementing with this challenge (based almost entirely on IB levels) only scratches the surface on the power of auction market theory and profiling. So keep in mind that there’s so much more to it than what I’m sharing here.

But even though I’ve drastically refined it down to a fairly rudimentary level, it’s still extremely powerful – and that’s what I want to show with this challenge. When you understand auction dynamics/principles, market behavior becomes incredibly clear.

Since I’m only using 1 contract per trade, I’ve been taking a lot of breakeven and small gain/loss trades along the way. But that’s completely fine as long as I give each trade a reasonable opportunity to pay me at least 2-3X. That’s my focus one trade at a time.

Written by Matt Thomas (@MattThomasTP)

Related Pages:

  • Topstep Trader Review – What Exactly is Topstep Trader?
  • Best Futures Trading Course With Expert-Level Mentorship
  • What is Trade With Profile – Best Trader Training Program?
  • 3 Free Ways to Learn From Josh Schuler at Trade With Profile
  • What is Aaron Korbs Trading With His Volume Profile Method?

Filed Under: Topstep Trader Reviews - What is Topstep Trader Tagged With: $150K Topstep Funded Account Challenge, Get Funded Trading Futures, What is Topstep Futures

STOP TRADING BLIND. START USING THIS PROFESSIONAL TRADING TOOL.

SEARCH

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

STOP TRADING BLIND. START USING THIS PROFESSIONAL TRADING TOOL.

SEARCH

#1 Free Foundational Course

Trading Success Framework - Free Course

Overall Rating – 4.9/5 Stars

Get Started on the Right Path

#1 Training/Mentorship Program

What is Tradacc.com - Tradacc Reviews - How is Tradacc For Beginners

Overall Rating – 4.9/5 Stars

Accelerate Your Trading Journey

#1 Training/Mentorship Program

Trade With Profile - Top Rated Active Trader Training Program

Overall Rating – 4.9/5 Stars

Acquire X-Ray Market Vision

#1 Trading Psychology Course

2ndSkies Trading With Chris Capre

Overall Rating – 4.8/5 Stars

Overcome Your Current Conditioning

#1 Funded Trader Program

Topstep Trader - Top Funded Futures Trading Program

Overall Rating – 4.8/5 Stars

Earn 5, 6, or 7-Figure Funding

#1 Futures Brokerage Service

What is EdgeClear - Is it the Best Broker to Trade Futures With?

Overall Rating – 4.9/5 Stars

Learn More About EdgeClear/EdgeProX

Risk Disclaimer||Affiliate Disclosure||Privacy Policy||Site Map||Contact||About