**I Lost $30,000 in Prop Firm Profits in One Day (Road to $1M Ep. 3) — Transcript & Summary | SozAI** Source: https://sozai.app/transcript/lost-30000-prop-firm-profits-one-day/ JJ Simon shares his experience losing $30,000 in prop firm profits in one day and reviews his trading week with key lessons. ## Key Takeaways - Prop firms can delete profits if certain conditions are not met, so understand their rules carefully. - Limiting the number of active accounts can help manage risk and avoid large unexpected losses. - Fair price theory and session bias are crucial tools for making informed trading decisions. - Volatility and unexpected news require flexible strategies and quick decision-making. - Consistent review and adaptation of trading methods are essential for long-term success. ## What the video covers - JJ Simon documents the end of his first month on the road to $1 million in prop firm payouts. - He reports $25,700 in payouts for the week but lost about $30,000 due to a prop firm deleting his profits. - The video explains how the deletion happened because he was moved to a live account prematurely without meeting requirements. - JJ discusses his strategy to avoid such losses in the future by limiting active accounts to three at a time. - He provides a detailed review of his trades from Sunday through the week, explaining entries, exits, and setups. - JJ highlights key trading concepts like fair price theory, displacement entries, and session biases. - He shares insights on trading different sessions such as Asian, New York AM, and PM. - The video includes analysis of volatility, news impacts, and trade management techniques. - JJ admits some losses and mistakes but emphasizes learning and adapting strategies. - He encourages viewers to be cautious with prop firms and shares practical advice for managing risk. ## Chapters 1. 00:00 Introduction and Prop Firm Payouts Overview 2. 01:38 Standard Trade Entry Explanation 3. 02:55 News Impact and Fair Price Determination 4. 04:25 Trade Losses and Consolidation Analysis 5. 05:46 Trade Review and Displacement Entries 6. 07:15 Asian Session and Confusing Losses 7. 08:37 Session Bias and Trade Decisions 8. 09:52 Trade Entries and Fair Price Reversions 9. 11:58 Stop Loss Management and New York PM Session 10. 17:25 Final Thoughts on Losses and Future Approach Answers ## Questions about this video Why did JJ Simon lose $30,000 in prop firm profits? JJ lost $30,000 because one prop firm moved him to a live account before he met the requirements, which led to his profits being deleted without payout. What strategy will JJ use to avoid similar losses in the future? He plans to limit himself to trading only three accounts at a time to reduce the risk of having profits deleted by prop firms. What trading concepts does JJ emphasize in this video? JJ emphasizes fair price theory, session biases, displacement entries, and the importance of managing volatility and news impacts in trading. ## Full Transcript — Download SRT & Markdown 00:00 Speaker A What's up? It's JJ, and this is the end of the first month of the road to documenting another million dollars worth of prop firm payouts. This week, I had $25,700 worth of payouts. Unfortunately, I had a little incident with one of the firms where I had about $50,000 deleted. So, we'll get into that and how you guys can avoid that in the future. So, let me just cut straight to the payouts, and then we'll go over the trades. All right. So, here are the payouts for the last week. I'll refresh the page. First, with Rise, I got three from TradiFy. 00:11 Speaker A Total over here should be 12 and a half K. Take Profit Trader, I just got one two days ago that is still pending from my live account. I can't refresh because it's going to leak my login. 00:23 Speaker A And then I also got another one from Take Profit Trader earlier in the week for $4,000. Now, unfortunately, TradiFy, I was going to get a $25,000—I'll refresh—$25,000 max payout, but they sent me to a live account when I hadn't met any of the requirements for live, which was weird. They have it hidden that they do it at any time they want, basically. 00:28 Speaker A So, I had about $30,000 just completely deleted, and refunded means absolutely nothing. So, unfortunately, I made 30K this week and then got none of that. It was a really good week trading because I did make a lot of money, but unfortunately, the bad side of prop firms is if you make too much, they're going to try and restrict you. So, I had three accounts with $10,000 in profit completely deleted. I don't even get a live account for them. I don't get any payouts. Don't get anything. Yep. 00:39 Speaker A So, as you saw, unfortunately, I had about $30,000 just completely deleted. So, make sure you are not stacking too much on that side specifically, and you should be good. 00:53 Speaker A It did well in the past for me, but going forward, I'm only going to do three accounts at a time. So, that way, I don't have that problem. But let's get into trades. It was actually a good week, lots of good trades. So, I'll be excited to show you all of them. Starting off with Sunday, I'm honestly just going to go over every session. 01:06 Speaker A This is going to be quite a long video, but whatever. Starting on Sunday, the opening candle was red, but there's a gap to the upside. I meant no trades originally because the opening candle bias is short and my bias is long to fill the gap, so just no real conviction for any trades there. We do get a pretty strong move down. So, I'm going to look for reversions back towards the opening price. Again, it's Sunday, so the opening price is done very fairly, and I love how the candle wicks up and down. That means it's super fair. Sometimes when it opens here and then just teleports straight down and it continues going down, it's kind of hard to tell if the fair price is here or here. But in this case, you can pretty much tell that it's right there. 01:17 Speaker A Anyways, move down. I definitely want to buy, and then in terms of the entry, I'm just seeing this structure right here get broken right there. 01:26 Speaker A I zoom in, you can see structure here, and then it gets broken right there. 01:38 Speaker A And then that is a pretty standard entry. You're getting 61 points in your favor. 01:47 Speaker A So, it's just the usual. This trade 3825. And then another quick move down, I would look to buy again. 01:51 Speaker A Second entry off displacement here. More entry off displacement here. More entry off displacement here. And here. 02:02 Speaker A All that loses, which is unfortunate, but Asian session opens, it is a very large green candle. 47 points, so 50 point stop loss. 02:14 Speaker A Only when the candle is more than 25 points on the open and set it in for 200 points or so. 02:24 Speaker A Looks like you're getting exactly—oh, that's the wrong button. Looks like you're getting exactly 175 in your favor, so 175 points back to the 6:00 p.m. fair price is a great trade to take, and then most likely, as soon as it gets up here, it's going to drift up to fill the gap, so I'm going for about anywhere from 150, 170 to 250. It is a very, very positive trade here. 02:34 Speaker A This is how I hit my first large win of the week. 02:38 Speaker A Again, Asian session opening candle was green, high time frame bias is long to fill the gap plus revert to 6:00 p.m. fair price, so like an A+ setup here. Broken close well, like bet everything on that. That's going to win. I think every single one of my confluences hit right there for longs, and then it played out as expected. 02:44 Speaker A I'm not going to go over London because I don't trade that. But here's New York AM. AM here was interesting because there were two fair prices that I was trying to determine between for the majority of the session. 02:55 Speaker A So, this is the first—well, I mean it's like the same. Anyways, this was some sort of news, and it was unexpected news, which means the move from it is fair because it was unexpected. And there's consolidation here and consolidation here. So that's why I have this line here as the possible fair price. Then right here before the open at 9:25, there was a quick move down, and then it opens approximately where I have the second blue line. So I was trying to determine, is this move right here fair for most of the session? 03:03 Speaker A And I honestly just put a line in the middle of all of them, and then I treated that as the fair price for most of the session. Just made everything a lot easier because I knew for sure it's either here or here. So why not just mark the middle, and I'll be right most of the time. 03:12 Speaker A Anyways, took an opening continuation long because the candle was huge, green, and it closed above the structure. Used 50 points stop. Lost that instantly. 03:20 Speaker A It is what it is. And then I did get in here as soon as the candle went above this previous one. I was counting as displacement. And it was very volatile, like back-to-back 70 point candles. So usually when it's this volatile, it's going to teleport back to fair price. So you kind of got to get in before the candles close. Monday was all traded live for my students so they can verify that I did take all these trades. 03:32 Speaker A Just standard 38 points here. Same thing, another 38 points here. I always do 38.25 after the open. Well, not always, but most of the time just because if you're getting like 30 points, 38 points back towards what I think could be fair price. 03:44 Speaker A Good displacement candles here, good displacement candle here. Okay, I should not have taken this, but it was a break of structure. But yeah, definitely should not have taken that trade because there's only eight points in my favor towards fair price. It went those eight points, and they reversed on me. Should not have taken this at all, but it is what it is. 03:49 Speaker A Next, another displacement. Good to take that. And then, finally, one more displacement. Good to take that. This one is giving me 76 points. So, probably can use one contract there. On my 150k accounts, I trade them a lot differently than 50k accounts, but so many different trade options you can do with fair price theory. As long as your target is here or above, then you're getting all those points in your favor. So, very strong day on Monday. Lots of reversions, as you can tell. And then, New York PM opens down way down here. So, I was expecting it to go back up towards the open. So, that was the bias for New York PM. 04:02 Speaker A Opening candle is right here, and it's green. So, it kind of confirms the bias. One, two, three displacement, close above this guy here. 04:11 Speaker A And just sent it long, and then, of course, missed it by like one point. It is what it is. Sent another one long off that displacement, and then this one did win. So, kind of break even for New York PM. Six p.m. of Monday opening candle is green. Second candle, very strong green displacement, break of this structure here. Sent it long. 04:25 Speaker A Lost. It is what it is. Lots of consolidation here, so I'm very sure that this is a fair price right here. Just because of that. 04:37 Speaker A This move down, probably unfair. Bought here when it broke structure. And then, bought again when it broke structure again. Both of them lost. 04:42 Speaker A This one was a weird loss, for sure, because it was Asi— 04:51 Speaker A either here or here. So why not just mark the middle and I'll be right most of the time. 04:55 Speaker A Uh anyways, took an opening continuation long because the candle was huge, green, and it closed above the structure. Used 50 points stop. Lost that instantly. 05:03 Speaker A It is what it is. And then I did get in here as soon as it the candle went above this previous one. I was counting as displacement. Um and it was very volatile like back-to-back 70 point candles. So usually when it's this 05:14 Speaker A volatile, it's going to teleport back to fair price. So you kind of got to get in before the candles close. Uh Monday was all traded live for my students so they can verify that I did take all these 05:23 Speaker A trades. Um just standard 38 points here. Same thing, another 38 points here. I always do 38.25 after the open. Well, not always, but most of the time just cuz if you're getting like 30 points 38 points back towards what I think could be fair 05:35 Speaker A price. Um good displacement candles here, good displacement candle here. Okay, I should not have taken this, but it was a break of structure. But yeah, definitely should not have taken that trade because there's only eight points in my favor 05:46 Speaker A towards fair price. It went those eight points and they reversed on me. Um should not have taken this at all, but it is what it is. Next, another displacement. Good to take that. And then, finally, one more displacement. 05:59 Speaker A Good to take that. This one is giving me 76 points. So, probably can use one contract there. Um on my 150k accounts, I trade them a lot differently than 50k accounts but um so many different trade options you 06:11 Speaker A can do with with fair price theory. As long as your target is here or above, then you're getting all those points in your favor. So, very strong day on Monday. Lots of reversions, as you can tell. And then, New York PM 06:23 Speaker A opens down way down here. So, I was expecting it to go back up towards the open. So, that was the bias for New York PM. 06:31 Speaker A Opening candle is right here, and it's green. So, it kind of confirms the bias. 1 2 3 displacement, close above this guy here. 06:39 Speaker A And just sent it long, and then, of course, missed it by like one point. It is what it is. Sent another one long off that displacement, and then this one did win. So, kind of break even for New York 06:49 Speaker A PM. 6:00 p.m. of Monday opening candle is green. Second candle, very strong green displacement, break of this structure here. Sent it long. 06:59 Speaker A Um lost. It is what it is. Lots of consolidation here, so I'm very sure that this is a fair price right here. Just cuz of that. 07:07 Speaker A This move down, probably unfair. Bought here when it broke structure. And then, bought again when it broke structure again. Both of them lost. 07:15 Speaker A Um this one was a weird loss, for sure, because it was Asian open. This one quite confused me. Um anyways, 8:00 p.m. open Asia candle was green. 07:25 Speaker A There was a bit of a wick, but still definitely going to buy. Close above structure. The 6:00 p.m. 07:30 Speaker A opens all the way up here. Should probably delete this. But, yeah, honestly, seemed like a pretty fair good trade. Like the exact as the last one, but, unfortunately, did not win. Uh nothing you can really do about that. Anyways, this move down 100% 07:42 Speaker A unfair, and I'm going to change the fair price down to Asia open because when the volume came in, it went down. It did not go up towards there, so I delete that one. Now just treating the Asian open as 07:52 Speaker A fair. I don't know why I have this marked out. It was definitely the definitely this. 07:57 Speaker A Um pretty good trade. 60 points in your favor so 38 is very standard here. 08:03 Speaker A Um the recent entry here is just first break of structure. You could also enter here off displacement candle, and then 25, you're good. Enter here off a break of this structure. This is a displacement. This is a break of 08:15 Speaker A structure. All of it works. Right back up to the Asian as expected. Here New York was a very weird session. Okay, so it's opening at the very bottom of like forever. So that probably takes one confluence away from my continuation short, but 08:29 Speaker A nonetheless, red candle broke structure, sent it short, 50 point stop, and then lost instantly. Whatever, I did not buy. 08:37 Speaker A Unfortunately, I was not buying any of these because my bias was short because the opening candle was right on. 08:43 Speaker A Let me mark it out real quick. Now this entire move up, I'm going to look for shorts, and I need a displacement candle or break of structure. 08:50 Speaker A Uh unfortunately, this is not because it didn't close below this one. This one is not didn't close below this one. 08:56 Speaker A This one is displacement candle, so this is the first entry that I would take going short. 09:02 Speaker A Um now I know I say usually do 25 38. There is a little bit of discretion that you can add in this case. You have 243 points in your favor. If it's more than 100, then I would probably relent like 09:16 Speaker A do the 50 point stop just because the volume is like extremely high that day. 09:20 Speaker A It's kind of the same in the long run. I figure to do 25 point point stop or 50 point. Like it's the same in the long run because your your profit on the other side has the same chance of 09:28 Speaker A hitting but um it will definitely reduce variance if you do a 50 point stop, so honestly, it's up to you. So anyways, first entry is is displacement there. 09:36 Speaker A Lose, whatever. Another displacement candle here, lose, whatever. Another one here. Um this was a really good one because it broke this structure. And then unfortunately very large green wick prints for like absolutely no reason when clearly fair price is down here. 09:52 Speaker A Um so nothing you can do about that. Except reenter when it breaks structure again. Here's the structure. There's the break. Same thing. 10:00 Speaker A Pretty easy 250 point win. Um good thing about mini version is you only have to risk 50 points in order to win 250. So if I lose 50 here, I lose 50 here, then I'm down 100, but then I win 250, so I'm 10:10 Speaker A net 150 points. And I'm doing three contracts usually, so what is that? 9K? I make $9,000 when I lost two times, so I'll take it. And then the losses as well since it's funded account, um it's only like 500 real dollars or right? So 10:27 Speaker A pretty strong return, $8,000 in one day basically, if that makes sense. Um yeah, so that was the entry. If you don't want really long trades like this, you can also do like 76 and then 50, and then whenever you win 10:40 Speaker A or lose, like you win here, then you send another one in here. Win or lose, send another one in here. Just as it keeps breaking structure in your favor, literally just keep sending more in because on average it's expected to 10:51 Speaker A go down, you're going to make money as it goes down. But yeah, like I don't know why it's making these wicks, whatever. Now New York PM um opening price was here. So I had to determine between this price and this one up here. 11:02 Speaker A So lots of consolidation here and the open price is here. Now what I chose to do was 2:00 p.m. open was green, and I felt like it was going up towards this one, so I was going to assume the one on 11:13 Speaker A top was fair price, so deleted the bottom one, bought here, lost, whatever. Now because it broke structure down, I deleted the top one, and I decided since volume came in here and it broke down, then most likely this price here is fair. 11:28 Speaker A And uh I don't know what this is doing here. I it was definitely right here. 11:33 Speaker A Um cuz there's no reason to buy there when you can just buy here when it breaks 1 2 Technically not breaking structure, but 1 2 3 4 5. If this places above five candles, that's a great entry. 11:42 Speaker A Same with this one. Uh I probably sent both of them, to be honest. I don't use this platform. This is just for YouTube. 11:48 Speaker A But, you're getting How many points are you getting? Two New York PM session, 110 points. So, really strong trade here. There's definitely more opportunities. You could buy here. You could buy Uh I wouldn't really buy here. It's kind 12:00 Speaker A of close. Uh really good reversion for New York PM. Continuation didn't work, but it is what it is. 12:06 Speaker A Now, 6:00 p.m. of the next day, assuming it's opening pretty fairly again. Huge wicks on both sides. Lots of consolidation here. So, I assume this is going to be a fair price. I'll just move this over. 12:15 Speaker A Um I took a quick little short right here just cuz it broke structure. I was getting a few points in my favor, and then I assumed like it's going to continue in that direction. Uh just based off of momentum. 12:25 Speaker A Anyways, break of structure long here. Loss, whatever. Okay, I don't know why this is here. I definitely did not enter there. That's wrong. That is That is fake. That's a sniper entry. 12:35 Speaker A Um most likely it was here. I don't remember exactly, but uh from what I'm seeing, these two are really strong displacements, but it's not displacing this red candle. In order for it to be a displacement, I want these two green candles to be bigger 12:48 Speaker A than the red candle. Um in which case, I would use 1 2 These three green candles to be bigger and close above this red candle wick. So, this is technically the displacement. 12:58 Speaker A Um so, I guess this is the entry here. Um and then 6:00 p.m. opening is here. 13:02 Speaker A You're getting 130 points in that trade, which is amazing. Send it in. There you go. 13:08 Speaker A Looks like some news probably helped you out, but hey, it is what it is. I probably would have sent one somewhere in here and lost that as well. But, let me see exactly where, actually. I should probably just 13:17 Speaker A get my chart on here. Right here. Break of structure. I have some marked up, but not all of them. Cuz I don't really mark out the eval trades cuz they're kind of like pointless. Just send it a bunch of 13:26 Speaker A evals. Okay. Asian session seems be opening at a very fair price cuz there's consolidation right here after the tweet. 13:32 Speaker A So, I'll just remove this one and then Asian open exactly here in the middle of this consolidation, which seems to be a fair price again cuz there's this is definitely a tweet. Just buy. Opening candle is 33 points, so I use 50 points 13:43 Speaker A stop, 76 point take profit. Boom, quick win right there. Uh now, try to short back towards this consolidation here. This is a good displacement, so is this. Um so, one entry here. 13:55 Speaker A And then the next entry would probably be right here off another displacement. Third entry, have this one here. Just marking out break of this structure structure here. Gets broke right there. 14:07 Speaker A And then yeah, send it in for uh the Asian open like insane reversions. So many so many high point reversions like across this week. I'm only on Tuesday as well. It's going to be a long video, but whatever. 14:18 Speaker A Uh so many long point reversions where I get 100 points. It's going to give you like $6,000 with three contracts. 14:25 Speaker A Another 130 points, give you like 7,500. These ones over here, okay. This should be like that. 14:31 Speaker A 250 points, like 13.5k or something. Yeah, very good week in terms of wins. But I've got to watch that scan. Okay, so it seems to be opening pretty fairly, a little bit near the bottom of the overnight range, but lots of some not 14:45 Speaker A lots decent amount of consolidation in this area. Um right here, so it's fine to mark this as fair price. Opening candle red, continuation short because it's 60 points I use 50 points stop. 14:56 Speaker A Continuation shorts did not do me too well um this week is basically like the opposite candles were printing, whatever. Now, I'm going to short here because it's a displacement. Um this candle is closing below these three. 15:09 Speaker A Standard displacement, 2538, lose that, whatever. Another displacement. That one wins. Now, as soon as it goes below the fair price, I'm going to look for it to go back to it. Displacement closes above here, 38 easy. Another displacement 15:22 Speaker A here, closes above this one, 38 easy. Good displacement short, but you can't really buy it. Kind of reverts instantly. 15:28 Speaker A Um and then here, um a pretty long 90-point trade. So, just again, displacement. Goes up more. This is too close to trade it back. Um short here off displacement, probably lose depending on your target. Let's see. 15:41 Speaker A 38. Oh, never mind. Wait, no, 25 stop hits. Yeah, okay. Lose here. Someone in here lose. Hits 11:00 a.m. and then I'm done. Unfortunately, because the one after 11:00 a.m. hit for the same amount of points. So, missed out on 9K by 2 15:55 Speaker A minutes sticking to my stop at 11:00 a.m. rule. But, you know, it is what it is. I don't really care. Okay. Now, drag this line all the way over here, New York p.m. 16:05 Speaker A Bias is long cuz it's at the bottom of the day's range. High time frame just back there. Candle opening is green. 16:10 Speaker A This one is green. And I probably lost this one cuz the opening cuz this candle's 28 points, but the opening candle was 11.75. So, I probably did two contracts and then have my 5-point stop. Lost for whatever reason these red candles wanted 16:27 Speaker A to print when it clearly wanted to go up. Uh it is what it is. Um if I had not got stopped out, I would have just let it run and then closed when the market closed. Um this was some sort of 16:36 Speaker A earnings. Now, earnings are very interesting with fair pricing theory. Reason why is normally when you have scheduled news, like red folder news, at like 8:30 a.m. Eastern, it goes up. It was already priced in, right? Like it's a 16:49 Speaker A They know the expectancy for the news release. They can price it in pretty well. So, that's why I love to revert the red folder news. And then remember when you have Trump tweets, it comes in like this, random Trump tweet, the 16:59 Speaker A consolidation after because it's unexpected. This would be a new fair price. So, I would not try to revert that. These things, though, earnings are like a little bit confusing. Um they do have forecast for earning, but companies always beat or underperform the 17:11 Speaker A forecasts. And then you Do you really know, like, are the forecasts priced in? Yes. Are the expectations of how much they're going to beat that price then? 17:21 Speaker A Not really. I guess you never really know if anyone's inside of trading or something right? 17:25 Speaker A So, what you what I do personally for earnings is first, I love news drift. 17:29 Speaker A So, whenever earnings is green, I'll just buy as soon as I can and then have it just keep going up. And then, what you'll see here on this day is uh the like the 2% possibility that earnings were priced in. As soon as it 17:44 Speaker A starts absolutely dumping, okay, earnings were priced in. I'm just going to short all the way back down here. But yeah, I'll get to that in a second. 6:00 p.m. open is green, so I bought at the absolute top. Um I was just thinking it 17:54 Speaker A was going to keep drifting long, and then I lost everything, but whatever. And then so much consolidation, like the market's not even moving here. So, let's see what Asian session does. Asian session is a red candle, so I would 18:04 Speaker A short continuation short. Right, where is it? 8:00 p.m. right here. Uh how big is the opening candle? 18:10 Speaker A Seven points stop line. Oh. Okay, well, it was going to be close. 25 points stop. Yep, okay, nice. 18:17 Speaker A Uh oh well, nothing you can do. Lose by a little bit. And then I would try and trade back towards the Asian open, which is here, approximately. Good displacement entry right here for the first one. 18:29 Speaker A Second displacement candle entry right here for the second one. Let's see, it ran 60 points, but my target would have been all the way up here, and then I would have got stopped out for whatever reason. It is what it is. 18:41 Speaker A Good reversion, but stopped me out. Now, the most interesting day of them all. If you look at my Instagram, it's JJ Simon. 18:48 Speaker A Um one of the trade recap days, I didn't post trade recap, I just did a day in the life, but I won $30,000. I'm going to flash some stuff up stuff on the screen of my wins on this day. 30k. 18:58 Speaker A So, normal continuation short, just because huge wick rejecting to close above long structure. Good close below short structure. Opening candle, 29 points, so 50 point stop, 76 take profit. Pretty quick win right here. And then I instantly bought 19:14 Speaker A here Um just on the assumption, all right, open was priced fairly. I'm just going to buy back here and then that loss whatever. 19:21 Speaker A Then, here it goes. It formed structure right here. And then this candle was kind of trying to go long. You see there's a bit of a wick. Like it was trying to go long. And then it didn't. And then it broke 19:32 Speaker A structure down and then I sent my funded short. I had some quite long take profits. One was 150 and the other one was like 200 or something. 19:41 Speaker A And then I think it was 50 point stop just based on my current account risk. 19:44 Speaker A So I sent one in short there. More wicks trying to go long, failed to go long, sent another one in like 250 points or something. 19:51 Speaker A There's one more entry somewhere within here. Might have been I probably layered them on top of each other. 19:56 Speaker A Which is not the best advice, but it's kind of it's not really FOMO. It's kind of FOMO. Like if you if you're watching this live, it's absolutely dumping. Like you you kind of want to press sell, but you're like, am I going 20:06 Speaker A to FOMO if I press sell? Kind of. As long as you're under the assumption that the pre-earnings price was fair, meaning the Micron earnings were were priced in perfectly, then as soon as it starts dumping and breaking structure to 20:18 Speaker A the downside, then you can short. But yeah, one, two, three fundeds hit for about 30k and then it chopped around here for a tiny bit, not enough for me to consider it totally fair. And then also moves like this, they always not 20:29 Speaker A always obviously, but likely have moves moved up within the reversion down. So I was expecting to have a quick like decent move up at least halfway up before continuing down. There is the kind of the down continuation I was 20:41 Speaker A expecting. So I was trying to make money off the continuation up halfway. And let me see where my entries were. There were so many entries. First one was right here where it broke this structure. 20:52 Speaker A And then it ran 200 points pretty quickly. My personal target was 400 points, which was there. But that's not the only trade I took. I took a bunch more. So yeah, I was just in one long drift trade cuz 21:02 Speaker A there was huge volume. Let's see, where were my entries? Here's another one. Break Whenever it breaks structure, it's my favorite. I'm just going to send something in. I don't really care if it wins or loses. 21:11 Speaker A And I don't remember my exact take profit stop loss. But I actually lost most of these. Uh anyways, break of structure here, send one long. Break of structure here, send it long, lose. 21:18 Speaker A Break of structure here, send it long. Or sorry, here, send it long. Um break of structure here, send it long. Here, send it long. 21:27 Speaker A Actually, that's 11. I should have stopped here. But maybe I took this, maybe I didn't. 21:30 Speaker A Anyways, made a ton of money shorting. Kept trying to buy, lost all of them except one. And that's what it is. On to the next. 6:00 p.m. open. Drop down. 21:39 Speaker A Opening is here. This move up most likely unfair. There was no news I saw. 21:44 Speaker A So, you could just revert that whole thing very easy. Um I missed Okay, there's continuation short for sure. 21:49 Speaker A Opening candle, 36 points. So, do 50 stop, 76 take profit. There you go. Now, definitely try and buy back towards 6:00 p.m. price. Let's look for a displacement. Oh, look for a displacement candle somewhere in here. 22:01 Speaker A And we see one. Not here cuz it's huge wick. This one is decent. So, there are the first one. 22:08 Speaker A There's the second one. There's the third one. All just sending them back in towards 6:00 p.m. price. Then, Asian open, tons of consolidation right here. 22:15 Speaker A So, I would treat this price as fair, which obviously, there you go. It's the 6:00 p.m. open. So, yeah, very fair. 22:21 Speaker A Move down here. Try to buy back there. Displacement here. Lose. More chop. Dump down. Displacement here. Traded back to this consolidation here because when the volume spike of these candles came in, it went down. If it had gone back up, then I would have 22:37 Speaker A obviously bought when it broke out of this back towards here. But it broke down. So, I would then treat this most recent consolidation as a fair price and just buy back there. And then most likely win. I don't know. Yeah, I don't 22:47 Speaker A remember exactly. I just trade so many accounts. Um now, let's go to Friday, New York. 22:52 Speaker A Weird day. Very, very weird. Anyways, opening candle, 9:30 right here. Opening price seems to be pretty fair. Um you You also just mark the middle of 929, it's kind of the same thing. 23:03 Speaker A Continuation short right here because the opening candle was red but it didn't close below. So I didn't short when this candle printed. This one though, good break of structure, opening candle red, very good short. I did not size down. I was just like as soon as it 23:17 Speaker A break structure I'm just going to short and then hopefully it goes which it did. 23:21 Speaker A Then Okay, there's definitely buy somewhere in here. I did not mark out. This is one of the days where it's teleporting back to fair price. You got to get in kind of before the candles are closing. This one I also traded live in 23:32 Speaker A Discord but quick 38 points there. Move away from fair price. Buy again. Wait, no, this one was I sent this one for 76. 23:40 Speaker A Definitely sent this for 76. I get you can size down. If you see like 76 points in your favor towards a fair price which is here or I guess here, wherever then you can size down. It's technically the same in the long run but lower 23:52 Speaker A variance to size down so might as well. Or you can take this with one contract and one with two at the same time so you're getting both exposure in the same direction. 24:01 Speaker A Anyways, another move down. I bought here as this candle was forming. Not the best entry but it lost by literally like 0.025. I lost. 24:10 Speaker A It stopped me out by 0.25. I I lost. Missed it by 0.25. It is what it is. 24:15 Speaker A Another displacement, send it long. This one won. Now huge move up, definitely trying to short. There was news at 10:00 so I was considering this could be new fair price and then when it volume spike goes up farther then I adjusted it. No longer 24:29 Speaker A looking to return to open, only looking at it to return to 10:00 a.m. price and then shorting here off this displacement, shorting here off this break of structure and then finally shorting here off this break of structure. 24:43 Speaker A 50 point stop and then my profit was 150 because I was going for 9,000. Just looked like that. 24:50 Speaker A So that was the final trade of the week for me. 2:00 p.m. I don't remember if I traded that. It's yesterday so I should remember, but assuming this is a fair price, 2:00 p.m. is Wait, I didn't trade 25:01 Speaker A this on an airplane. 2:00 p.m. is right here. It's opening green. Uh you could short here cuz your bias is coming back towards this price. Really good break of structure there. 25:10 Speaker A Um 25 Oh, that's close. Hey, nice trade at the end of the week. But yeah, a bit of a long video. Should have gone through a bunch of trades. Very good winning week. Lots of huge reversions. Like crazy volume and then like you see this, 25:23 Speaker A 100 points. I know I kept losing, but when I lose, I only lose 25 points. And then when I win, it's like 150, 100, um 150 150 220. 25:34 Speaker A So like net on the week, I'm up a bunch of points. And then when you multiply that with funded capital, it's obviously even more points. So good, kind of good end to the month where lots of wins, but 25:43 Speaker A unfortunately, um lots of money deleted. So that is never going to happen again. I'm going to switch out my approach a little bit on that specific site going forward. 25:53 Speaker A So it's just not going to happen again, thankfully. And then going forward next month, I'm going to have to spend quite a bit on evals to replenish what I just lost. 26:02 Speaker A Um it's just how it goes, so next month probably going to be more payouts than this month for sure. 26:08 Speaker A But also going to be more spend because I am going to have to replace the accounts. I'm also working on live accounts right now with Topstep, Lucid, TradiFi, a bunch of some other sites, Take Take Profit Trader, some other ones, too. 26:22 Speaker A Like I'm online everywhere, so been a smaller month in terms of payouts, but a good return on my investment because again, I was trading mostly live accounts, which means I'm not buying evals. So good return month, but unfortunately, 26:33 Speaker A not as much as I'd like. And in order to hit the another million in payouts by the end of the year, probably going to have to get back to SIM, start spending more, getting more evals, more funded accounts, that sort of thing. So next 26:44 Speaker A month, be prepared. Goal is 150k in payouts. Hopefully, I'm going to hit 175, maybe maybe 200, even another record month. So I'm definitely excited for that. And uh see you in the next video. Topics: prop firm trading JJ Simon prop firm payouts trading losses fair price theory displacement entries trading strategies risk management trading sessions trading review --- This is the markdown twin of https://sozai.app/transcript/lost-30000-prop-firm-profits-one-day/ — the same content, without the markup. Published by SozAI (https://sozai.app). Reuse and quotation are allowed with attribution and a link back. Machine-readable index: https://sozai.app/llms.txt · data API: https://sozai.app/api/