prop firm passing and account management
Dec 17, 2024 at 05:40
120 व्यू
3 Replies
तबसे मेंबर है Nov 23, 2021
19 पोस्टों
Dec 17, 2024 at 05:40
hello fellow traders..
the year has come to an end where 2024 year's resolution seems to be fading on the horizon.blown accounts because
1. physiological factors that influenced bad trade practices
2. inappropriate risk management mixed leading to risk of ruin being so close to your drawdowns
3. lack of proper strategy and those who have strategy fail to follow their plans whereby you get to pass your phases only o blow your funded account later..
Alot can be the cause to..and thats where accountability has to come in like doing more backtesting..
-making sure you understand this prop firms rules and regulations before buying set accounts and also understanding types of drawdowns you're committing to.
With that said and done feel free to reach out to me for account management..both prop and live accounts
also you can make this thread interactive if you have more points to pass across or just ask me anything.
the year has come to an end where 2024 year's resolution seems to be fading on the horizon.blown accounts because
1. physiological factors that influenced bad trade practices
2. inappropriate risk management mixed leading to risk of ruin being so close to your drawdowns
3. lack of proper strategy and those who have strategy fail to follow their plans whereby you get to pass your phases only o blow your funded account later..
Alot can be the cause to..and thats where accountability has to come in like doing more backtesting..
-making sure you understand this prop firms rules and regulations before buying set accounts and also understanding types of drawdowns you're committing to.
With that said and done feel free to reach out to me for account management..both prop and live accounts
also you can make this thread interactive if you have more points to pass across or just ask me anything.
THE GOAL ISNT TO BEAT THE MARKET RATHER TRYING TO HAVE AN EDGE IN IT.
तबसे मेंबर है Jan 03, 2025
1 पोस्टों
Jan 03 at 11:11
Hey happy new year,
I am just getting started in the prop trading world and looking for advice on the right way to approach it. I have been trading my account for a few years now with little success, the main issue I have is the capital size. Trading with little size is very hard and personally makes me over risk bc the results are so insignificant. The good thing is I have not lost money in this process and gain some experience but I feel stuck right now.
I have been looking at the prop firm space for a few months and now ready to start getting involved for this year.
I am just getting started in the prop trading world and looking for advice on the right way to approach it. I have been trading my account for a few years now with little success, the main issue I have is the capital size. Trading with little size is very hard and personally makes me over risk bc the results are so insignificant. The good thing is I have not lost money in this process and gain some experience but I feel stuck right now.
I have been looking at the prop firm space for a few months and now ready to start getting involved for this year.
तबसे मेंबर है Nov 23, 2021
19 पोस्टों
Jan 05 at 09:50
one thing you didn't check on his stats is that it may seem lucrative to subscribe to his signals or copy trades but . two-three important things you should look for a signal provider especially is the topic is prop firms is that:
1. what's his trading strategy does he do all trading manual?if so its something the prop firm you might buy a challenge from ask you to explain in a interview and be able to explain to them ?
2.does he use automation ? if so do the automation or use of EA allowed by the prop firms ?what kind of of strategy does the EA use to execute trades because some strategy used by majority of bots aren't allowed
3. what does his statistics tell you like whats his drawdown anything above 3% will lead to account blowing?is all statistics shown of are disguised unlike being transparent to analyse the systems ?
for anyone on my thread please be careful and stay safe..
1. what's his trading strategy does he do all trading manual?if so its something the prop firm you might buy a challenge from ask you to explain in a interview and be able to explain to them ?
2.does he use automation ? if so do the automation or use of EA allowed by the prop firms ?what kind of of strategy does the EA use to execute trades because some strategy used by majority of bots aren't allowed
3. what does his statistics tell you like whats his drawdown anything above 3% will lead to account blowing?is all statistics shown of are disguised unlike being transparent to analyse the systems ?
for anyone on my thread please be careful and stay safe..
THE GOAL ISNT TO BEAT THE MARKET RATHER TRYING TO HAVE AN EDGE IN IT.
तबसे मेंबर है Nov 23, 2021
19 पोस्टों
Jan 05 at 09:52
Well to majority of us traders we tend to view prop firms as the holy grail gateway of getting cash from very little fees we can be able to raise to buy these challenges so that the payouts can fund the live accounts to millions also serving us a massive lucrative way of financial freedom attainment.
As this may sound to be true its' also serves as a trap to those who aren't consistently in their trading behaviour and exert a proper risk management accompanied with discipline throughout their challenge and funded stages as one mistake can erase days of hard work.
Factors that include ..unlike the demos and live accounts where traders are less limited to lots per instrument..max leverage per account with some having exponential such as 1:1000 and drawdown isn't a factor for early account blown as much as 10% DD.Hence this poses a great deal to traders who are used to flexibility n back tested strategies that might work but not in strict rule based environment.
Prop firm is a riskier venture than funding your own live account because of the rules which seam simple on the outer surface but requires a traders understanding..plan and proper trade execution aligning with laid rules..since one mistake can lead to account termination whether you had previously passed the evaluation or when you are funded because their edge is when you blow your account.
On prop firm you want to know the types of challenges account sold and what rules are applied on each challenge before purchase;And these include
1.Is news trading allowed in the product you want to buy
2.Type of drawdown- is it balance -based or account based
3.Type of trading strategies that aren't allowed
4.Risk exposure on traded pairs like max lot to avoid being flagged or suspended by risk-management on the said program.
5.Type of scaling or percentage on the product to advance to being funded and how the prop firms handles that so you don't get locked out of your winnings by understanding the payment cycles and structure involved.
6.Max allocation you can have in overall accounts and whether EA are allowed and rebuy options incase you breach..AMONG OTHERS which are treated as soft breach that can be on be found on individual prop firms T&Cs
7You may as well compare the spreads and commission fees and trading platform available in those prop firms (only few have mt5 by 2025)
Prop firm are good for a disciplined traders who have low capital to inject but dedicated enough to follow their trading plan to be able to not just get a refund upon successful completion of evaluation step to being funded to being able to make withdrawals..
As this may sound to be true its' also serves as a trap to those who aren't consistently in their trading behaviour and exert a proper risk management accompanied with discipline throughout their challenge and funded stages as one mistake can erase days of hard work.
Factors that include ..unlike the demos and live accounts where traders are less limited to lots per instrument..max leverage per account with some having exponential such as 1:1000 and drawdown isn't a factor for early account blown as much as 10% DD.Hence this poses a great deal to traders who are used to flexibility n back tested strategies that might work but not in strict rule based environment.
Prop firm is a riskier venture than funding your own live account because of the rules which seam simple on the outer surface but requires a traders understanding..plan and proper trade execution aligning with laid rules..since one mistake can lead to account termination whether you had previously passed the evaluation or when you are funded because their edge is when you blow your account.
On prop firm you want to know the types of challenges account sold and what rules are applied on each challenge before purchase;And these include
1.Is news trading allowed in the product you want to buy
2.Type of drawdown- is it balance -based or account based
3.Type of trading strategies that aren't allowed
4.Risk exposure on traded pairs like max lot to avoid being flagged or suspended by risk-management on the said program.
5.Type of scaling or percentage on the product to advance to being funded and how the prop firms handles that so you don't get locked out of your winnings by understanding the payment cycles and structure involved.
6.Max allocation you can have in overall accounts and whether EA are allowed and rebuy options incase you breach..AMONG OTHERS which are treated as soft breach that can be on be found on individual prop firms T&Cs
7You may as well compare the spreads and commission fees and trading platform available in those prop firms (only few have mt5 by 2025)
Prop firm are good for a disciplined traders who have low capital to inject but dedicated enough to follow their trading plan to be able to not just get a refund upon successful completion of evaluation step to being funded to being able to make withdrawals..
THE GOAL ISNT TO BEAT THE MARKET RATHER TRYING TO HAVE AN EDGE IN IT.
*व्यवसायिक इस्तेमाल और स्पैम को ब्रदाश नहीं किया जाएगा, और इसका परिणाम खाता को बन्द करना भी हो सकता है.
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