Someone is working with My Forex Fund? You can work with your company, not as a person?
MFF are OK?
MFF are OK?
prop firm new model - my trading journey 871 replies
Anyone trading with a Prop firm 2 replies
So I accepted a Prop Trading job in South Beach Miami 43 replies
DislikedSomeone is working with My Forex Fund? You can work with your company, not as a person? MFF are OK?Ignored
Disliked{quote} I think this something we all should take on board (I saw this idea posted somewhere) - before starting any challenge one needs to have formulated a definite daily strategy. Have a daily stop out level. Maybe around 1% of the account. So let's say one is trading a $25k Funding Talent account, you would have a daily stop out once you've lost say $300. That applies to gains as well. So if you gain say $500 on the day and you lose $300 you're stopped out for the day. Come back again tomorrow and start all over again, same formula.Ignored
Disliked{quote} This is precisely what I heard from a few traders who have passed FTMO 100k challenges. If you want to win the challenge a method such as the above is an even-keeled way to do it. Aim for 1% gain per day risking .5%, as example. Each person has 20 to 22 trading days (not including weekends if you only trade Forex, as I do), and the idea is to use the whole month. Nobody needs to make 10% in a week or two but if you can easily do that, more power to you. I passed the free trials within 2 weeks or less (even an aggressive model), but failed...Ignored
DislikedA question... can we not find a confirmed opportunity, atleast 1 opportunity in a day ? Is this not enough ?Ignored
Disliked{quote} 'Confirmed' opportunity could easily end in loss. If the 'confirmed' opportunity does in fact result in a loss then this one trade approach would not be enough. The trader needs to have a Plan A and a Plan B. Masterrmind ........Ignored
Disliked{quote} A trader will have Plan, A, B and of course C too.. If you ask me, soft strategy ( due to fear of loosing and violating DD ) did not work for me. Soft strategy, I mean, taking 2 lots 3 lots, and wait for 30 pips , 40 pips TP did not work. If I aim for 30 and 40 pips, it will go against me 50 pips first before hitting TP. So, the fear comes in. However, when I took aggressive strategy, with profit and loss within 10 to 12 pips, it has worked. Here no emotions involved as I knew what will be my profit and loss even before placing order. This...Ignored
Disliked{quote} At the end of the day it has to be a strategy that you can apply flawlessly and one that rides well within the Firm's Trading Objectives. It can appear to be an endless uphill run when several trades go against you and you are underwater. What makes the FTMO target quite hard at times is the 'time constraint'. You really need to have a strategy that will more often than not end the month with some profit, if you manage to tag the 10% target then sweet but it won't always happen. Some traders have very good strategies and some traders simply...Ignored
DislikedYes the problem is that you don't have a lot of breathing room at all with this prop trading game. As many of us have discovered! You have to forget the normal 2% or 3% risk on a trade when you only have 5% to play with. If you're two or three grand down ( minus 3%) you've already got a tough task to now make 13.5% in order to get to that original plus 10% target. Far more likely that you're on that slippery slope to disaster. As I said before I really think that a daily stop out is vital. A daily limit. Around 1% or even...Ignored
Disliked{quote} Create that breathing room! The fucus is -somewhat wrongly- keep revolving around the money management and risk size exclusively.... Something what is relative easy to scale, down or up. The time constraint isn't like that. It cause more emotional turmoil and management mistakes than anything. It is static, just there, and there for only one reason: kill the traders! ( No, it has nothing to do with finding good traders, contrary to the common lie fed daily). The sensible goal would be finding a way to minimize or cancel time constraints...Ignored
Disliked{quote} I can't have a happy weekend PF you've spoiled my weekend! Such a negative post. What I believe you're saying is that it doesn't matter what we try, if we introduce good money management into our trading, we're still going to have the same results? I really can't believe that's true! Time constraints are not a big factor at all. Have you actually done any challenges? 30 trading days is more then enough time and if you don't make it but you're in the green you can try again for free so really it's a matter of...Ignored
Disliked{quote} You need to read again if negative you read. Are you taking general, helpful comments personal? Why? If I have done a 30 day challenge? A couple. Approx 48? Since trading full time every month is a 30 day challenge!! But I bow to the fact you know best, since I see your results speak for you. So there. No negativity. But this time a pinch of irony. Happy? Prove me wrong!! Assume, the linked video not you. Yet another example of no first hand experience, just parroting others as if you know, bcos they say you say. Learn to form an actual...Ignored