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Cable Update (GBPUSD)

  • #669,981
  • Jul 16, 2022 12:32pm Jul 16, 2022 12:32pm
Sorry to interrupt.

If you are disciplined, you can make money whether it is personal capital or prop fund capital.

The difference is, we as retail traders, will invest 5k or 10 k max.

Assume you constantly make 1 % a day.

In prop firm, you have access to bigger capital.

Assume you make 1 % per day.

which is better ?

For your information, a disciplined trader made 110 k profit with a prop firm, last month. He is from India wherin it is illegal to trade forex with a broker.
Intraday only.
  • #669,982
  • Jul 16, 2022 12:40pm Jul 16, 2022 12:40pm
Quoting Wavegarrick
{quote} Hi Guys, I do not know how to respond to multiple posts or quotes here so I will do it as best I can. From The Wolf, {quote} Yes Sir, you could be quite right.. I like to get a gauge from the 20th of each month to see if price will reverse in the intended direction or go the opposite way. Bulls are not out of the woods for sure. {quote} Thanks George @ Georginson, I am acutely aware of it. We are in a situation where anything can happen at this point. Sound money management is the key for me now and I will lock my trades in as quick as possible....
I am getting subtle bearish hints on usdx from a 4 hr perspective. My future weekly pivot at 107.945 is a certain prospect for renewed selling interest.
Cheers,
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Trade to trade another day
  • #669,983
  • Jul 16, 2022 12:43pm Jul 16, 2022 12:43pm
Quoting RCtrader
{quote} Traders trade on a virtual account that is connected to the prop firm master account. It might not be small. If it's legit then it would run into multiples of a million.
you have taken a right step forward.

The risk management is the most important thing that you will learn in a period of time.

It may take some months to master how to pass.

Eventually, you will be the winner, do not give up.

All the best.
Intraday only.
  • #669,984
  • Jul 16, 2022 12:48pm Jul 16, 2022 12:48pm
Quoting PatienceFx
{quote} a disciplined trader can convert $ 0 [ zero ] into any amount, as cash in bank. i will prove my point by coming on this list in exactly 3 months from today. https://www.forexfactory.com/trades
Be humble mate, forex has a way of dealing with proud traders, in fact when you are in consecutive winning run, that's when you need to be more careful.
Data + Stat + Risk/Emotions Management
  • #669,985
  • Jul 16, 2022 12:49pm Jul 16, 2022 12:49pm
Quoting Georginson
{quote} Prop firm trading is the best thing that can happen to most undisciplined and undercapitalized traders.
I don't think so because to trade with them you need a lot of discipline.
  • #669,986
  • Jul 16, 2022 12:53pm Jul 16, 2022 12:53pm
Quoting Marcieny
{quote} I don't think so because to trade with them you need a lot of discipline.
And that is what most of us do not have.

So, we loose all our personal capital, 1k first, then 2k, then 5k, then 10k, then a property.

In prop firm, you just loose fee paid.
Intraday only.
  • #669,987
  • Jul 16, 2022 12:53pm Jul 16, 2022 12:53pm
Quoting Marcieny
{quote} I don't think so because to trade with them you need a lot of discipline.
What I mean is traders that are not disciplined will be forced to be disciplined with prop firms due to their daily 5% equity loss threshold.

Traders that are also undercapitalized will not have such problem with prop firms, as 2% profit on 100,000$ prop firm account is more than 20% profit on capital of 5,000$ personal account.

I'm currently taking test worth $700,000 (3 separate accounts with mff) as I type and I know first hand how discipline is enforced in traders real time.
Data + Stat + Risk/Emotions Management
  • #669,988
  • Jul 16, 2022 12:56pm Jul 16, 2022 12:56pm
Quoting Georginson
{quote} What I mean is traders that are not disciplined will be forced to be disciplined with prop firms due to their daily 5% equity loss threshold. Traders that are also undercapitalized will not have such problem with prop firms, as 2% profit on 100,000$ prop firm account is more than 20% profit on capital of 5,000$ personal account. I'm currently taking test worth $700,000 (3 separate accounts with mff) as I type and I know first hand how disciplined is enforced in traders real time.
Very good George, Nice step forward.

Wish you the very best.

Yes, I agree, I keep both my eyes on 5 % threshold every day.
Intraday only.
  • #669,989
  • Jul 16, 2022 12:58pm Jul 16, 2022 12:58pm
Quoting navk
{quote} Very good George, Nice step forward. Wish you the very best. Yes, I agree, I keep both my eyes on 5 % threshold every day.
Thanks mate. I wish all of us the best outcome in trading and in our lives generally.
Data + Stat + Risk/Emotions Management
  • #669,990
  • Edited 1:31pm Jul 16, 2022 1:06pm | Edited 1:31pm
Quoting Georginson
{quote} Prop firm trading is the best thing that can happen to most undisciplined and undercapitalized traders.
One more point George.

Prop firm is the best thing that can happen to every country men, where forex trading thro broker with their own money is illegal.

With a Prop firm, you are not trading your capital, you are just a sub contractor.
Intraday only.
  • #669,991
  • Jul 16, 2022 1:18pm Jul 16, 2022 1:18pm
Quoting Marcieny
{quote} I don't think so because to trade with them you need a lot of discipline.
Nice to see you back Marcieny,
Trade to trade another day
  • #669,992
  • Jul 16, 2022 1:34pm Jul 16, 2022 1:34pm
Quoting Wavegarrick
{quote} Nice to see you back Marcieny,
Thank you..
  • #669,993
  • Jul 16, 2022 1:50pm Jul 16, 2022 1:50pm
Quoting navk
{quote} And that is what most of us do not have. So, we loose all our personal capital, 1k first, then 2k, then 5k, then 10k, then a property. In prop firm, you just loose fee paid.
This is where the market cooks traders .. Discipline and technique are separate and different things... winning or losing has nothing to do with emotions.... you can make a lot of profit on a bad day... and lose on a day well... Discipline is doing what has to be done even if you don't like it.
  • #669,994
  • Jul 16, 2022 1:52pm Jul 16, 2022 1:52pm
Quoting Georginson
{quote} Be humble mate, forex has a way of dealing with proud traders, in fact when you are in consecutive winning run, that's when you need to be more careful.

this is kinda what has happened to me lol
  • #669,995
  • Jul 16, 2022 2:05pm Jul 16, 2022 2:05pm
Quoting Georginson
{quote} Be humble mate, forex has a way of dealing with proud traders, in fact when you are in consecutive winning run, that's when you need to be more careful.
I am speaking from pure experience , because I have converted $0 to $370k in bank. Fx market is loaded with opportunities for good traders, and all of this was outside this forum. Many brokers give a welcome bonus just to join them.
  • #669,996
  • Jul 16, 2022 4:37pm Jul 16, 2022 4:37pm
Had some free time..
Yeah, I know this doesn't make any sense at all haha
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  • #669,997
  • Jul 16, 2022 7:19pm Jul 16, 2022 7:19pm
Good Night!

Inserted Video
  • #669,998
  • Jul 16, 2022 7:48pm Jul 16, 2022 7:48pm
Quoting TheWolf
Had some free time.. Yeah, I know this doesn't make any sense at all haha {image}
Perfect thought, that wedge will work

After July 27 , it will be a game of halting rate hike to control recession

Any rate hike by uk after that will be a first step to reverse
  • #669,999
  • Jul 16, 2022 9:59pm Jul 16, 2022 9:59pm
Quoting TheWolf
Had some free time.. Yeah, I know this doesn't make any sense at all haha {image}
my view
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  • #670,000
  • Jul 17, 2022 1:12am Jul 17, 2022 1:12am
Quoting navk
Sorry to interrupt. If you are disciplined, you can make money whether it is personal capital or prop fund capital. The difference is, we as retail traders, will invest 5k or 10 k max. Assume you constantly make 1 % a day. In prop firm, you have access to bigger capital. Assume you make 1 % per day. which is better ? For your information, a disciplined trader made 110 k profit with a prop firm, last month. He is from India wherin it is illegal to trade forex with a broker.
interesting reading about prop firm!
looks there are lots of advantages there as loss chance is minimum but at the same time loosing that minimum is also maximum if not contained within their rules ! looks mlm pyramid type scheme , suck most to pay less and ultimately certain to fail . anyway not looks much different than trading we do with brokers , maximum leverage with huge money power with small investment in one broker and even live accounts may consider demo as broker might have in control for all accounts there and may not centrally connected with forex market. all may gain from looser to the pay few only . so forex becoming gambling at its root intention. no sane investment . using more profit with minimum investment to lure people and ultimately suck all to run itself! a fake virtual environment where big fishes hunt for small fishes , hunt each other every second and survival for the fittest while no playing level fields anywhere!
ideal should be no leverage , no great income opportunity of the pure investment , that may fluctuate say 10 % yearly due money depreciation not the whole even ever , so one can earn with 10 to more % with good strategies but may not loss more 10 % with average strategies . say you buy a piece of asset and wait for many years for profit or loss , it will remain same asset with some % value changes with money value and ageing but never be zero by 10 yeas say , yes he can use that property to get some extra !
anyway interesting information about prop firm recently i see many facebook ads and it might have some advantage as mentioned . low loss risk to test at least. one site I see those got paid are all recently joined by 15 days only , no long lasting traders !
anyway, it is all the same in different format.
risk your money first to try recover that same money after your investment time frame !!
Not understand?better not follow my analyses!doubt clearer first, risks ++
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