Trade journal 29-nov-24 +4113 USD

Today was the 8th day trading on my XFA (funded Topstep account). A number of succesful trades today resulted in a total profit of 4113 USD after commission. This brings the total for the XFA to 9.505 USD after withdrawing 3k. The total profit on the XFA is therefore 12.505 USD.

The below figure shows one of the first trades for the day. The market was bearish after reaching and reversing on the top range for the day. Like often happens after reaching this limit the market turns bearish and pushes price to the lower range for the day. Such a major movement is great to trade on.

I got into this trade on a short after price pulled back just above the lower bound of VWAP. This might have signaled a reversal. However, after waiting it out price strongly pushed passed the technical level in the direction of the previous large bearish movement. I got in at 20.847 and got out around 20.815 resulting in a +1.300 USD profit. My take profit was the top of New Day Opening Range which you can see as the pink horizontal line. Price did not manage to break through this level. The trade was therefore executed very well.

Seeing the strong support level of New Day Opening Range that was being respected, I expected a strong reversal as in half an hour market would open. This generally creates strong linear movements. I got in on a long at 20.835 and got out at 20.843. Many similar trades were performed after, with an extremely high profitability rate.

What went wrong today?

After achieving a profit of 3k i got a bit overenthusiastic by trying to predict the day’s major breakout at the top of the day’s range. I got in using 4 contracts while i had been trading with only 1 or 2 contracts. This was a mistake and resulted in a loss of 1.200 USD.

Price did not breakout significantly that day. My partial explanation is the early close on this Friday at 19.00.