NEPT: A Prop Trading Journal to Success

North Easterly Progression Trading : A Prop Trading Journal to Success

Right I gave it a name, North Easterly because that’s the aim to achieve an equity curve that goes 045° which means a consistency in trading. Journalling helps to stay on track and goals are achievable that way. I tried before but failed to do so. I will try my best to keep this one long term.

I bought a 100k OTF challenge account from Traders Central Fund. This journal will keep track of that challenge progress as of now.
I bought it in December,2021 but requested them to forward the challenge into next month means January 2022.

I received my logins credentials for the challenge account today 10th of January, 2022. So exactly 30 days from now and I will have to achieve 8% profit! Quiet a difficult target!!

As of now it’s completely manual trading. I will trade XauUsd aka GOLD only.
This is a MT5 account, i follow chart in TradingView and place trades on MT5.

For the purpose of this journal, the following acronyms will be used:
S1 = Stage 1
S2 = Stage 2
LF = Live Funded
TD = Trading Day
TW = Trading Week
Overshoot = Exceeded daily profit target
Undershoot = Below daily target

Stage 1 lasts for 30 calendar days, so I will have 22 trading days to trade. In order to achieve 8% or 8000$ profit target, each day requirement is 363.64$ covering commission & swap charges. Each day achieving this target will not be possible, some day will be more some day less, aiming for whatever market offers.

So here’s the journey begins the NEPT. This is going to be interesting!!

This week news events to keep in mind

Attached Image (click to enlarge)

S1 TD1

EOD gain = +600 USD
Overshoot = Yes (+236)
Progress = 0.6% of 8%
Total trades closed = 2 L
Class A trade = 1 L
Class B trade = 1 L
Recovery Trade Activated = NIL
Recovery Trade Failed = NA
Daily Goal Achieved = Yes

S1 TD2

EOD Gain = -188 USD
Undershoot = Yes (-552)
Progress = 0.4% of 8%
Total trades closed = 8 (5L+3S)
Class A trade = 1 L, 1 S
Class B trade = 3 L
Recovery Trade Activated = 3
Recovered Loss = 1 (Class A)
Recovery Trade Failed = 2 (Class B)
Daily Goal Achieved = No

S1 TD3

EOD Gain = -433 USD
Undershoot = Yes (-797)
Progress = -0.02% of 8%
Total trades closed = 12 (7L+5S)
Class A trade = 1 L
Class B trade = 3 L, 1 S
Recovery Trade Activated = 5
Recovered Loss = NIL
Recovery Trade Failed = 5 (Both Class)
Daily Goal Achieved = No

S1 TD4

EOD Gain = -124 USD
Undershoot = Yes (-488)
Progress = -0.15% of 8%
Total trades closed = 2 (1L+1S)
Class A trade = Nil
Class B trade = 1
Recovery Trade Activated = 1
Recovered Loss = NIL
Recovery Trade Failed = 1 (Class B)
Daily Goal Achieved = No
Running Trades Overnight = Yes

Remarks : Close profitable trades on time. Control greed!! Follow the plan strictly!!

S1 TD5

EOD Gain = +665 USD
Overshoot = Yes (+301)
Progress = 0.46% of 8%
Total trades closed = 13 (6L+7S)
Class A trade = 2
Class B trade = 5
Recovery Trade Activated = 5
Recovered Loss = 3
Recovery Trade Failed = 2 (Class B)
Daily Goal Achieved = Yes
Running Trades Overnight = No

S1 TW1

EOW Gain = +467 USD
Undershoot = Yes (-1353)

News events this week:

My MT5 account is showing disabled!! No idea why.

Reached out to support to know the issue.

Awaiting their response.

Mt5 is re enabled to trade again!

Support guy also doesn't know why it was disabled! Strange!!

Anyway will resume trading now. I missed an opportunity in the morning.

S1 TD6

Overnight trade in progress = Yes

S1 TD7

It was a complete mess today! I lost then recovered half of the loss and then lost again.

Current Progress : -1.8% of 8%

Remarks : Still same problem persists, not closing profit trades in profit. Calling it a day off. Recovering and then reaching 8% target seems not feasible unless i take significant risk, which I don't want to do. Hoping for the best.

S1 TD8

Nothing much. Another losing day. Made some changes in the money management approach.

Current Progress : -1.9% of 8%

Remarks : Didn't trade Gold today. Gold made good movement today.

S1 TD9

Still nothing. Some floating trades in progress and they are in drawdown.

Current Progress : -2.5% of 8%

S1 TD10 & TW 2

Slowly falling the OTF challenge.
Current Progress : -4% of 8%

Just to update.

I failed the challenge. Lots of self development required.

Will try again later when I feel ready to do so....

MFF Phase 1


So here we go again, after 9 months I bought another evaluation account but this time a 50k from My forex funds.
Yesterday was first day, and i lost -1.2% of the account. After that I stopped trading.

Target is 8% mean 4k to make in 30 calendar days without breaching the drawdown rules.

I will update again how it went today.

Some major news coming in for Gbp.

Secured all my Gbp trades. Closed in profit.

Closed all trades for this week.

Overall progress -2.8%