[00:00] So here's my weekly update on the $100,000 funded account that I'm working on. And this week isn't going to be one of those videos where I come and show you how much money I made. Because right now, I'm losing. The account is sitting at $99,025.92, which means I'm currently down $974.08.
[00:16] And I actually think this might end up being one of the more useful updates in this series. Because the way I got here taught me something. When I first started trading this account, my process was really simple. I had my indicator running. Whenever it detected a setup, I'd get a notification.
[00:28] but I wasn't blindly entering every signal because I was asleep most of the time also. I'd get the notification, hop on the chart, look at what was happening, and then make the final decision myself. Does this setup actually look good? What is price doing? What's the market
[00:42] structure look like? Is this something that I would actually put money behind? If I liked it, I'd take it. If I didn't, I'd leave it alone. And after the first week of doing that, I was up $500. Fantastic. You saw the last weekly update. And then I made what looking back might have been a
[00:57] pretty important mistake. I changed the process. I tried removing myself from the decision-making. I wanted to automate everything. Initially, it looked good. I got some winners and thought, okay, this could possibly work. And then the losses started and it didn't just get one loss,
[01:12] which I could have brushed off It got a string of them And that when I started questioning everything Maybe this needs to change Maybe I need to change this or that Maybe the position size is too large Maybe the conditions of the setup need to be adjusted Maybe I can add some kind of filter
[01:26] So I lowered my position size while I tried to figure things out. The stupid part was that I changed multiple things at the same time. And you can't track if a change has worked if you do five changes at the same time. The whole thing turned into a shit show. And you can actually see it in
[01:39] the account trade by trade. We started at $100,000, got over $500 in profit, things were going well, and then you can see where things started to fall apart. But I'm not going to do what most day traders do, and that's panic. The account is far from dead. Technically, I still have over $4,000
[01:53] of maximum permitted loss remaining, and I think that's important because right now I have two choices. I can look at that negative $974 and think, shit, and then revenge trade my way back.
[02:05] increasing risk, taking setups I wouldn't normally take, using a completely different strategy, trying to turn that negative 974 back up to zero as quickly as possible. Or I can simply accept
[02:17] that this is where the account is today. I've been in deeper holes than this and gotten out. Now I just need to follow the rules and think to myself, what's the best decision I can make for the next trade? Not how do I make this money back?
[02:29] And I think I had a great revelation over this last week I good at spotting the setup up But my computer really good at watching the charts all day The thing that I hate the most I don want to sit there and watch the RSI on EURUSD
[02:42] and wait for something to happen. I'll let the indicator do that. Let it scan it. Let it find the conditions I'm looking for. Let it notify me and then I'll take over. I'll make the right decision.
[02:54] I'll look at the setup. If we're in like massive bearish momentum, I'm not going to take a bullish RSI divergence signal. I get to make the final decision. Maybe I take it, maybe I won't. Maybe if it looks kind of shitty, I'll do less lots on the trade.
[03:08] If it looks fantastic, I'll dump more lots. I haven't completely decided what the final solution is. It's Saturday, so I still have the weekend to crunch the numbers and see what works best for me. I'm still figuring it out, but that's where my head's at right now.
[03:21] I was thinking to myself, maybe I'm asking the wrong questions. I keep defaulting to this, I think that my computer could trade for me automatically. And until I get fully vetted back-tested results that show me a fantastic win rate
[03:34] and an amazing profit factor that covers spread and all the other costs that come with trading, I should still have my hands manually on this. And before I end this video, I wanna say something to anybody
[03:46] who trading a funded account right now especially if you currently negative Do not get discouraged just because you go into drawdown Drawdown is a part of trading This is the point where I think a lot of traders destroy themselves You start with a account you lose then
[04:02] and maybe you're down $1,000 like me. And suddenly you're not trading the market anymore. You're trading that negative number. Every trade becomes, I need to get back to break even. You take a loss and you immediately want another trade. Then maybe you increase your position size.
[04:16] You increase your risk and you think one good trade and I'm back. And then you lose that one too. Now you're angry. So you take another one. And what could have been completely manageable drawdown becomes a blown funded account.
[04:30] Not necessarily because the strategy failed, but because you panicked. So like I said, just chill, relax. If you're in drawdown, no big deal. Keep a cool head and keep trucking forward. And if you're interested in getting an instant funded account where you don't have to pass
[04:43] any challenges. The instant funded account I'm using is funder pro. They're running a promo right now, 25% off. If you use code TMA 15, the discount code and the link is the first link in the description. And remember getting the funded account is the easy part. Keeping your head cool
[04:59] when that account goes negative. That's the hard part. Thank you so much for joining me today. I really appreciate you guys share this video with your friends and I will see you in the next one.