Why Prop Firm Trading Is A Trap: The 0.1% Nightmare
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Posting this video was difficult for me because essentially, I'm closing the door on these firms for now. I don't really like doing this because trying to make RFT EA's work with commercial prop firms like MyForexFunds, drives EA sales. To me, it's just not worth the extra sales. I think too many traders are being damaged by these firms financially and emotionally. Most traders are looking for that "holy grail" prop trading EA or trading tool. It just doesn't exist. I think a traders time is better spent saving his/her money and building a trading account slowly over over 3-5 years. It just doesn't make sense to take a risk that results in a 99.9% failure rate! Trading (in my opinion) needs more room. The rules that prop firms put in place are too tight. This makes trading at one essentially a waste of time. Especially when they can just suspend your account for any reason. Even if you didn't break any rules. These firms are no different than the worst of casinos. ....................................................................
Releasing this video doesn't mean I won't help traders wanting to use RFT EA's at prop firms. It just means I won't be releasing any (official) setfiles geared to passing challenges. Setfiles will be released, but they will all be labeled as "experimental".
It's possible my opinion on prop firm trading will change over time but before that happens, the industry likely needs to get regulated by the CFTC and NFA before that happens. The 0.1% success rate is just WAY too low for it all to make sense!
I really didn't want to post this video but think it's necessary showing the REAL challenges on my journey. I know I'll come out of this over the long-term but need to pull back my urgency to recover to protect my accounts.
I'll be moving my funds into my Powerhouse EA while I build up a personal trading track-record on the side. I "Still" think there is merit to the strategy I was using on the copier so I'll be exploring the idea further on demo in the coming weeks/months.
My manual public trading stops here for now. If I ever do it again, it will be backed up by a verified track-record.
Some of you have been with me for over 3 years. I know I lost some of you with this "trade copy" venture which makes me sad. I hope I can regain some trust over time.
Thanks for your ongoing support for the growth of RFT @everyone. It's time to pull back a bit and slowly recover.
Does Grid Trading Really Work? - Live Trading Using The Comeback Kid EA
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This week I decided to dive a bit deeper into the The Comeback Kid and it's functionality. This is the start of more videos to come. When the CBK launched 2 years ago, I felt like I did a horrible job explaining how/why it was a solid strategy. I think I'm ready for another shot considering how solid the strategy remains to be. I created a walkthrough of all my trades this week (July18-21st) which resulted in +0.80% profit. This is to help new and old traders understand how I like to use the CBK.
Is Auto Forex Trading Dead? The Truth About Buying Trading Robots
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I decided to jump out of my comfort zone on this one and talk about other trading robots outside of RFT. This is a big world and I know my EA's are not the only ones that can profit in this market. Buying good trading robots for MT4/MT5 can be a daunting difficult task. In this video, I use my background and knowledge in the space to investigate other retail EA's .
I've been a bit worried about releasing this video so please let me know if it's something you like.
My $1,000 to over $20,000 Trading Challenge With Just 5% Monthly Profit
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I'm starting a new challenge $1000 account challenge. This challenge will be done taking 1 manual EU trade daily targeting just 10 pips!
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I created this video because I think there is a lot of potential in the way I (manually) draw S/R each week. As of now, I t's not possible to program how I draw support & resistance into an indicator/EA. It needs the human eye. I hope as some point, I will be able to find a way.
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All my trades taken each week can be seen in this channel! https://discord.com/channels/7663799...04258105069590
Trading like this only requires a 3-5 minutes a day!
Giving Back! My Best Expert Advisor EA Free for Everyone
