Self funded vs prop firm… truth behind it | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Featured US Prop Firms

Similar Threads

Anyone trading with a Prop firm 33 replies

Prop Firm Hub 51,744 replies

ERP Prop Firm Journey 4 replies

prop firm new model - my trading journey 871 replies

Attachments: Self funded vs prop firm… truth behind it
Exit Attachments

Self funded vs prop firm… truth behind it

  • #81
  • Jan 2, 2024 1:04pm Jan 2, 2024 1:04pm
Quoting navk
{quote} I have started with real money account today. Just 481 $. Let us see how it goes. First day, made 12 % ( sorry, 24 % made ) No reason to trade anymore. {image}
Nice results you made!
Surprisingly, for sure there is no competition, I made the same 24% in the real account too. For me, this marker is for the time that I write as 'calling a day' is quite unusual. I am not yet so organized as you, maybe I should.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB


For a moment I executed 2x0.5lot (like 5x more than intended by trade) in the real account as I was switching between them, I managed to have them closed at BE, without thinking that maybe I should keep for longer, maybe I will get more money out of it.

Your post inspired me to have the account without a trade running, as mentioned before, quite unusual as I use to, what is called, overtrade.
  • #82
  • Jan 2, 2024 1:25pm Jan 2, 2024 1:25pm
Quoting aa4fx
{quote} Nice results you made! Surprisingly, for sure there is no competition, I made the same 24% in the real account too. For me, this marker is for the time that I write as 'calling a day' is quite unusual. I am not yet so organized as you, maybe I should. {image} For a moment I executed 2x0.5lot (like 5x more than intended by trade) in the real account as I was switching between them, I managed to have them closed at BE, without thinking that maybe I should keep for longer, maybe I will get more money out of it. Your post inspired me to have...
As you say, it is not a competition.

THe results will inspire for sure.

Having said, i need to stop when I see 4 to 5 % day.

Greediness leads to disaster.
Attached Image (click to enlarge)
Click to Enlarge Name: simple.png Size: 130 KB
Intraday only.
  • #83
  • Jan 2, 2024 1:37pm Jan 2, 2024 1:37pm
I had not really good day.
Bad decision to attempt long on cable ended in loss.

luckily got nice short in oil but it will be tradable in the live account if and once reaches at least 1k

overall live account ended -50$

I anyway have to use a main,platform as tech study and all the others using tablet / phone to execute orders.
not really simple.
I will get used to that.
90% of traders use TA, indicators and prediction
  • #84
  • Jan 2, 2024 9:12pm Jan 2, 2024 9:12pm
My trading for 2 nd day is done almost in Tokyo session itself !!
Attached Image (click to enlarge)
Click to Enlarge Name: simple.png Size: 123 KB
Intraday only.
  • #85
  • Jan 2, 2024 11:48pm Jan 2, 2024 11:48pm
Quoting navk
My trading for 2 nd day is done almost in Tokyo session itself !! {image}
Oh, you don't set TPs? So often you will go beyond the target profit?
  • #86
  • Jan 3, 2024 12:25am Jan 3, 2024 12:25am
Infact, I am done for the day !!
Attached Image (click to enlarge)
Click to Enlarge Name: simple.png Size: 103 KB
Intraday only.
  • #87
  • Jan 3, 2024 12:26am Jan 3, 2024 12:26am
Quoting Maroka
{quote} Oh, you don't set TPs? So often you will go beyond the target profit?
No, TP , no stop loss.

I get out once i make mine.
Intraday only.
  • #88
  • Jan 3, 2024 1:07am Jan 3, 2024 1:07am
Quoting navk
Infact, I am done for the day !! {image}
Hi Navk, what is your lot size with 500$ account?
  • #89
  • Jan 3, 2024 1:09am Jan 3, 2024 1:09am
Quoting Ziemowit
{quote} Hi Navk, what is your lot size with 500$ account?
0.4 max.

Spread out .... 0.03..0.04.... 0.05 like that.

Total lot size will not exceed 0.4 in 500 $ account, which is equivalent to 2 lots in 5k demo
Intraday only.
  • #90
  • Jan 3, 2024 1:23am Jan 3, 2024 1:23am
Quoting navk
{quote} 0.4 max. Spread out .... 0.03..0.04.... 0.05 like that. Total lot size will not exceed 0.4 in 500 $ account, which is equivalent to 2 lots in 5k demo
with that size its pretty easy to meet your target once price goes in your favour ,
thanks !
  • #91
  • Jan 3, 2024 1:30am Jan 3, 2024 1:30am
Quoting Ziemowit
{quote} with that size its pretty easy to meet your target once price goes in your favour , thanks !
That is what one needs , right ?

Not overnight Millionaire ??
Intraday only.
  • #92
  • Jan 3, 2024 1:55am Jan 3, 2024 1:55am
Quoting navk
{quote} 0.4 max. Spread out .... 0.03..0.04.... 0.05 like that. Total lot size will not exceed 0.4 in 500 $ account, which is equivalent to 2 lots in 5k demo
great ，you have a good Discipline
  • #93
  • Edited 8:21am Jan 3, 2024 7:31am | Edited 8:21am
All done.

NY some done.

Trading for me not over.

But for financial plan done.

Plan attached.
Attached Image (click to enlarge)
Click to Enlarge Name: simple.png Size: 115 KB
Intraday only.
  • #94
  • Jan 3, 2024 7:48am Jan 3, 2024 7:48am
Quoting navk
All done. NY some done. Trading for me not over. But for financial plan done. Plan attached. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 3cad68926ed64d03b26b3964f3d31539.jpeg Size: 41 KB
  • #95
  • Jan 3, 2024 7:55am Jan 3, 2024 7:55am
Quoting france001
{quote} {image}
I lived in Arabic world, for many years before moving to western countries.

One can make huge money in Arabic world by profession.

Proffessional life is difficult though.

The picture of a person will be bright when he gets in there..then slowly deteriorates when the years pass.

I mean a person looses all his character when move out.

Your picture reminded me that.

lol
Intraday only.
  • #96
  • Jan 3, 2024 9:45am Jan 3, 2024 9:45am
Posting my table
day 2

slightly different than navk one, since I personally don’t put into account a target profit nor equity. If I did, I should also set a total target which, in prop account will be a 10% monthly (5k $) but out of a 200$ account things are different as planned.
so,
in prop account my trade size is 1 lot
in live account shall be 0.001 lots (even less probably I didn’t the calculation) but I let it be 0.1 lots so 1$ x pip in cable

at last I gave it a rule coloring red when daily profit/loss is oversized and overleveraged.
indedd, as you can see, losing a 24% on a 200$ means almost wipeout.
what probably happens with the long story tell 95% of traders loses.
of course…. I would say.

Attached Image (click to enlarge)
Click to Enlarge Name: Plan.png Size: 29 KB


prop account is different calculation since I can trade also oil which is not yet possible in the bit one.

time will tell if it this account goes wiped out or if I will be able to withdraw 30k profits from it this year
90% of traders use TA, indicators and prediction
  • #97
  • Jan 3, 2024 6:04pm Jan 3, 2024 6:04pm
Quoting navk
All done. NY some done. Trading for me not over. But for financial plan done. Plan attached. {image}
There is one optimization you could consider when the real account equity bypass the demo account + the startup fee and this is to use a real account of 5k instead of demo account and the remaining in the startup fee account.
You will have all the real account benefits vs demo account.

You will be able to reset easier and make a better % in the fee account as it will involve a simple money transfer between the accounts. The more often you reset, the much efficient return % you will have.
day x - make 1k in the 5k account => in 10 'session' of 100$ -> reset to 5k every session -> put the extra money in the fee account -> it will get better % out of them.

The trader mind will be the same, he will still trade a 5k account.

Depending on the trading way, those return % could be improved too, of course, with some extra risks ... but, let's debate it when the time is right, like when reached the 'funded level' + some extra.
  • #98
  • Jan 3, 2024 6:35pm Jan 3, 2024 6:35pm
Quoting aa4fx
{quote} There is one optimization you could consider when the real account equity bypass the demo account + the startup fee and this is to use a real account of 5k instead of demo account and the remaining in the startup fee account. You will have all the real account benefits vs demo account. You will be able to reset easier and make a better % in the fee account as it will involve a simple money transfer between the accounts. The more often you reset, the much efficient return % you will have. day x - make 1k in the 5k account => in 10 'session'...
I've seen a few posts between you and navk, wishing you both happiness, health and prosperity. Can you articulate exactly what you all are trying to do?
From what I gather, which I could be wrong, you're essentially trading two accounts, one demo account, one real money account, using a trade copier to copy the trades from demo to real? Does that about sum it up?

By doing this you think your mindset will remain the same? You think this will help make you more profitable? Is that what I am reading or am I completely mis- understanding?
Swing the AXE..HARD w/ Effort, Consistency and Patience
  • #99
  • Jan 3, 2024 7:03pm Jan 3, 2024 7:03pm
Quoting HTG
{quote} I've seen a few posts between you and navk, wishing you both happiness, health and prosperity. Can you articulate exactly what you all are trying to do? From what I gather, which I could be wrong, you're essentially trading two accounts, one demo account, one real money account, using a trade copier to copy the trades from demo to real? Does that about sum it up? By doing this you think your mindset will remain the same? You think this will help make you more profitable? Is that what I am reading or am I completely mis- understanding?
Thanks! Best wishes to you too!

Yes, from my perspective, you are reading it correctly. I think this post (see the quote post first) will make things more clear: https://www.forexfactory.com/thread/...6#post14703906

Enjoy!
  • #100
  • Jan 3, 2024 9:11pm Jan 3, 2024 9:11pm
In my opinion, the primary advantage of using a prop firm is evident if you're just starting out with limited capital. It also makes sense if you're inexperienced, as it definitely helps mitigate losses of your own capital. However, once you reach a substantial amount of capital, say over six figures, it's more beneficial to trade using your own account. At this stage, employing copy trading on other prop firm accounts as a secondary approach can be effective.
From a risk perspective, and drawing from my years of experience, I feel more comfortable trading with my own money. This is because I can afford to be aggressive in certain setups and make decisions that align with my system and experience. Trading with my own funds means I am not restricted by rules like daily drawdown limits that are typical in prop firms. In essence, trading with significant personal capital offers more flexibility and control, which is crucial for seasoned traders who have developed their strategies and risk management techniques.
0 traders viewing now