Disliked{quote} Excellent post. I infact, blown 2 MFF funded accounts, but collected 5200 usd one month before blowing that funded account. In that way, Blowing funded account does not matter to me. Now I aim to do faster challenges but relatively slow funded account. I have now 1x100k funded from TFF. Though I was very much annoyed when MFF refused to pay me 50 %, as MM put it here, their offerings are good. So, at some point i will go with MFF but after finishing 3 x100 with TFF.Ignored
Since most funded accounts do not require a profit target it's actually quite easy to simply stop trading or greatly reduce trade frequency which can be good or bad.
I think traders get into trouble with the funded accounts by wrongfully thinking that if they made 8% to 10% in Phase 1 and followed that up with another 5% or more in Phase 2 then they can make an easy 5% to 10% every month ongoing.
Ofcourse, this is not the case and when they push too hard ... bye bye funded account due to an over-leveraged series if losing trades mostly or lack of risk control or both.
It's just as well that Prop Firms welcome back traders who have either lost funded accounts or challenges or both with open arms!
Think about this next comment for a moment.
If Props were so keen to keep or build a team of 'professional' traders versed in risk control why then would they want to accept time and time again traders that have blown funded accounts ?
If they were concerned wouldn't it make sense to ban such traders after X number of blown funded accounts or perhaps offer them some one on one 'mentorship'?
It becomes quite clear that their model does not depend on the longevity of a funded trader.
So what does it depend on ?
Creating a model comes to mind.
A model could be built using objective functions across multiple parameters.
The idea here is to find out which parameters revenue is more responsive too based on maximising revenue flow whilst minimising risk or other parameters that are deemed to play a more sensitive role.
Maybe, I'll think about creating such a model when time allows.
In any case, good for thought and as always all the very best in your challenges and ofcourse the funded accounts.
Masterrmind ..............
Master your Mind then Master your Trades
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