One thing most prop firms can do is get rid of the closing of accounts if one hits the daily drawdown. Instead what should happen is, then person is banned from trading until the next day. This really could help traders who have yet to learn how to take advantage of the exercise concept of mark douglas.
If for example i am a prop i has the 5 dd and 10% max. If in a day a trader who uses mine loses 5% in a day, he's stopped from trading, account not closed. He can try again tomorrow. Something to that effect.
I know i broke my account a few times because of rhis until i found my way of how to pass and get payout.
Still, it sucks.
Hopefully this be resolved.
If for example i am a prop i has the 5 dd and 10% max. If in a day a trader who uses mine loses 5% in a day, he's stopped from trading, account not closed. He can try again tomorrow. Something to that effect.
I know i broke my account a few times because of rhis until i found my way of how to pass and get payout.
Still, it sucks.
Hopefully this be resolved.
Trading is gambling. So gamble responsibly.
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