I Tried Becoming a Funded Day Trader

In this video, I try and become a funded trader.

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0:00 Intro
01:11 How it Works
02:12 Day 1
04:01 Day 2
05:28 Day 3
07:01 Day 4
09:23 Day 5
10:55 Day 6
12:18 Day 7
12:57 Day 8
14:58 Day 9

[DanielInskeep]

the ultimate new years resolution: hitting the thumbs up button on all of my videos.

[JDCovah]

The best advice I ever got was from a smart friend who wasn't even a trader. I showed him a trade I made and said "It was good but I could of made much more if I held it" and he just plainly said "Yeah but it's irrelevant because you didn't know" like it was obvious. Even though it's so simple, now every time I miss out out on a bigger move I just remind myself it's irrelevant because I didn't know that in the moment. Being upset about missing even bigger profits can lead to revenge trading because you feel like you should have what you missed out on.

[yaboy]

Man day trading has been by far the most difficult thing I have ever done. My first year I lost 50k, wanted to die. 2nd year I made 13k not happy, but I learned a lot. My 3rd year I made well over 350k in profits, and now I am entering my 4th year. You literally have to change as a human being to be a good trader.

[TradesbyMatt]

Patience, Green is Green! Love the video Daniel. You can tell your trading is looking great!

[Siegefya]

Dude, that was a MAJOR improvement in your futures trading compared to the other 3 videos. Day trader next door has said....if you can get to around a little profitable in futures or even break even...you're damn near there to being full on profitable, so you are pretty much there man. Keep going! great editing, as always love the transparency...don't lose your confidence you are almost there bro.

[JamieMcCarthy]

As a European who is a fulltime trader i notice a common thing among alot of american traders who trade Nasdaq, S&P and the like, risk management. It always best to risk the same amount per trade instead of having variable losses. For example being risking $100 dollars every trade so you're keeping losses the same and targeting a fixed risk/reward so that if you're edge is working that you will be profitable in the long term and the bigger losses wont be holding you back, instead of having sometimes 3 or 400 hundred dollar losses. Best of luck with your trading Daniel

[Kettletrigger]

I'm right there with you dude. It's amazing how much harder trading gets when there's something at stake.

[brianct]

Dude, your trading has LEVELED up! We're basically adapting at similar rates, using similar tools (Bookmap, etc...), and have roughly the same general strategy (targeting supply/demand zones). This was a major inspiration and got me seriously considering TopStep (and similar programs). Well done. I've recently switched over to ES as well; seems to respond to lvls more reliably than NQ/MNQ. Lastly, don't beat yourself up - Late Dec thru mid Jan were ABSOLUTELY brutal as far as weak volume, market reaction to economic reports, etc. Please try again soon.

P.S. I can't speak for you, but constantly adjusting your SL to allow for more drawdown makes me cringe, personally. The more consistent my stops are, the better my entries get over time.. swear to God. Sometimes I stop out and reinter instantly if levels are still looking good; usually I'm able to spot where the original entry mistake was made (even if it was off by just 2pts tops).

[christopherknox]

I'm really impressed with how much you've improved since the last videos, it's really fun to watch! I'm also currently going through an prop evaluation so I'm right there with ya.

[slintor]

Two things stand out for me in analyzing your performance: #1 When your first trade is a loss, your day tends to get worse. When your first trade is a win, your day tends to continue to improve, peaking around your 2nd/3rd win. Might try stopping day if first trade is a loss, or after 2-3 trades if first trade is a win. #2 you put a lot of pressure on your self in missing home run trades, but you never make any home run trades so that doesn't seem to be your strength, so just focus on small-medium base hits as your strength. Centralize around your strengths and expand on them. Those 300-400 dollar plays see if you can expand those to get 400-500 out if context allows. Those 100-200 dollar plays, try expanding those out to 200-300 if context allows. I think the combination of these two points could see your stats move towards your winning days being 2:1 your losing days which will create a healthier, consistent pnl curve. Great job!

[IaMxNitro]

What a great video. Amazing editing and patience while recording this. Max respect. You motivate me.

[theaihairguy]

you got this shit dude, keep at it, lots of us right along side you in this journey, its certainly a skill worth mastering. Don't give up.

[bethanykish]

Hi Daniel, just recently found your channel and im loving it! I really respect that you are so transparent. On a totally unrelated note, you have a great voice, its very soothing. You could probably make good $$ narrating stories for people with anxiety, no joke. I have it, and have found myself just listening to your videos when I need a calming distraction from my overactive mind. Something to consider? Regardless, thanks much for all your doing on your channel. Wishing you great success and happiness.

[Icyclubb]

The thing about these Funded Challenges is that we are not trying to get this big account to trade and then suddenly make a lot of money. The expectations need to be realistic and the goal needs to be thought through a little more for most people. The goal of working for a Funded Company like TopStep is to use their money to make a business out of your trading. If you pass the challenge, suddenly you have enough money to maybe consider trading full time. Longevity in the markets is the goal. Making enough money to maybe pay for your food for the month or some bills you have to pay, and then gradually making more as you get more experience. Most people lose these challenges and in trading in general because they want to get rich quick and their emotions take over their trading. The goal is not to pass the challenge for the Prop Firm, but to last in the markets for many years to come.

[kristofsznida]

You're doing great! Not giving up after all these years is key. I struggle with impatience and exiting trades prematurely as well, for me it helps if I enter a trade, set my stops and just ignore the trade until it closes, staring at it as it goes adds a lot of suspense and anxiety.

[SteakFromJakeFarm]

great video man. appreciate the transparency. and also getting to witness your progress. feels like you’re right there. stick with it and don’t put too much pressure on yourself. you got this!

[TheBuckMagoo]

Keep at it man! I found with my trading that clearly defining how I wanted to enter, exit and trail my stop was extremely helpful for dealing with uncertainty. Scaling out 25%-75% of the position on a target order and trailing a stop beyond swings on the remainder will allow you to both lock in profit and catch the bigger market trends move. Make sure the current swing has sufficiently tested the prior extreme before trailing your stop to that level, lest you be stopped out on a two legged pullback just before a continuation. Happy trading!

[WilsonTrades]

love the dedication you're putting into becoming a better trader

[GetIrked]

I've been in the market for 25 years and the best piece of advice I've gotten is: "if the stakes are affecting your trade, reduce your size until they aren't."

This is one of those easier-said-than-done situations, but it's true. If the amount you have on the line is affecting your psychology, reduce the amount. If that means going back to paper-trading, then you go back to paper-trading.

Fantastic video, Daniel. Keep it up.

[TradeBrigade]

Nice improvements and lessons learned. Hands off that stop!! Cheers Daniel, rooting for ya to get that funded account. GGs!