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Self funded vs prop firm… truth behind it

  • #141
  • Jan 9, 2024 8:40am Jan 9, 2024 8:40am
Hit another double milestone today.
50-100-200-400. Next stop 800.
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"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
  • #142
  • Jan 9, 2024 8:42am Jan 9, 2024 8:42am
Quoting OBsayMkMoney
{quote} Lemme see that Excel sheet please. I wanna try too.
Join in brother!
"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
  • #143
  • Jan 9, 2024 8:42am Jan 9, 2024 8:42am
Quoting Ehminiz
{quote} ohh,i found you here
Yea, I am following a method, low risk.

Suitable for best real money account as well as funded / challenge account.
Intraday only.
  • #144
  • Jan 9, 2024 8:46am Jan 9, 2024 8:46am
Quoting OBsayMkMoney
{quote} Everyone wants to be the Hare, when in fact it was the Tortoise who won the race. -01 lots saved my trading. Once you conquer greed, the market is a lot easier. I took 4 100$ accounts to 450 swing trading UJ with .01 lots. I find it funny that people put money into Forex accounts looking to make 1000X returns, and yet will leave their money in a bank making 4 percent in a 12 month period. Once you relax. You can actually learn. Currently running an account I am trading in Bitcoin instead of dollars. My thought process is that going slow...
100%
Thats awesome you did that, and I love the minsdset!

Next thing you know youre making enough each month to pay yourself and keep adding to total equity.
Prop firm mentality I believe is the 1000x mentality. People are attracted to total capital they will trade thinking they will 100x their money after being funded for a few months. Yet 85% cant even get funded and just trade free wasting challenge money.
Phase 1 and phase 2 is demo trading.
"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
  • #145
  • Jan 9, 2024 9:59am Jan 9, 2024 9:59am
Quoting mastersplint
{quote} Join in brother!
please share the Excel sheet here.
Don't compare your trades to others. Most often the masses are the asses
  • #146
  • Jan 9, 2024 10:32am Jan 9, 2024 10:32am
Quoting navk
{quote} Yea, I am following a method, low risk. Suitable for best real money account as well as funded / challenge account.
oh. I will read through the thread.

hopefully I get a grasp of it.

I’m sure it will help me.
#Stay blue. /swinger/scalper/
  • #147
  • Jan 9, 2024 10:46am Jan 9, 2024 10:46am
Quoting Ehminiz
{quote} oh. I will read through the thread. hopefully I get a grasp of it. I’m sure it will help me.
It is like :

1. Open 5k demo account.

2. Open 500 $ real money account

and or

3. Open 100 k challenge /funded account. ( Effectively, 5 % dd , 5k works as capital )

4. Trade in 5k demo account.
Make minimum 200 $ profit in a day.

5. Copy demo account trades to real money account and / or 100k challenge / funded account.

6. I use fxblue trade copier

7. Use correct risk factor multiplier to copy trades to challenge / funded account. I use risk size multiplier of 0.15 ( only for challenge / funded account )

8. I use 1;1 as risk size multiplier for real money account.

9. Achieve minimum of 4 % daily in real money account.

10. See the results and target in 5 months period attached.
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Intraday only.
  • #148
  • Jan 9, 2024 11:15am Jan 9, 2024 11:15am
Quoting navk
{quote} It is like : 1. Open 5k demo account. 2. Open 500 $ real money account and or 3. Open 100 k challenge /funded account. ( Effectively, 5 % dd , 5k works as capital ) 4. Trade in 5k demo account. Make minimum 200 $ profit in a day. 5. Copy demo account trades to real money account and / or 100k challenge / funded account. 6. I use fxblue trade copier 7. Use correct risk factor multiplier to copy trades to challenge / funded account. I use risk size multiplier of 0.15 ( only for challenge / funded account ) 8. I use 1;1 as risk size multiplier...
oh wow. This is nice.

I will look at it proper and try applying.

thank you
#Stay blue. /swinger/scalper/
  • #149
  • Jan 9, 2024 1:35pm Jan 9, 2024 1:35pm
Kind of cheated a bit, like those diet cheat days …
I am still fully loaded with some open trades but at this moment I am back into the positive zone ….
Floating dd is not good but still not ready to say goodbye to a great day …. real acc, of course.

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Everything gets easier when every day the trader trades almost the same way.

will need to set a proper solution for those bad moments that one could have
  • #150
  • Jan 9, 2024 7:08pm Jan 9, 2024 7:08pm
Quoting Ehminiz
{quote} oh wow. This is nice. I will look at it proper and try applying. thank you
copy your great method
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  • #151
  • Jan 10, 2024 2:15am Jan 10, 2024 2:15am
Quoting france001
{quote} copy your great method {image}
total disaster
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  • #152
  • Jan 10, 2024 2:31am Jan 10, 2024 2:31am
Quoting france001
{quote} total disaster {image}
you have to learn trading as well as risk management.

The loss numbers too much with respect to capital
Intraday only.
  • #153
  • Jan 10, 2024 2:34am Jan 10, 2024 2:34am
Quoting navk
{quote} It is like : 1. Open 5k demo account. 2. Open 500 $ real money account and or 3. Open 100 k challenge /funded account. ( Effectively, 5 % dd , 5k works as capital ) 4. Trade in 5k demo account. Make minimum 200 $ profit in a day. 5. Copy demo account trades to real money account and / or 100k challenge / funded account. 6. I use fxblue trade copier 7. Use correct risk factor multiplier to copy trades to challenge / funded account. I use risk size multiplier of 0.15 ( only for challenge / funded account ) 8. I use 1;1 as risk size multiplier...
Hi navk. Can we use trade copier in funded account? From what i know the prop firms do not allow copy trading. I have a funded account with funding pips. Please let me know about your experience.
  • #154
  • Jan 10, 2024 2:37am Jan 10, 2024 2:37am
Quoting Pranjal
{quote} Hi navk. Can we use trade copier in funded account? From what i know the prop firms do not allow copy trading. I have a funded account with funding pips. Please let me know about your experience.
it depends on prop firms, check with them. or read Terms & conditions, FAQ
Intraday only.
  • #155
  • Jan 10, 2024 7:11am Jan 10, 2024 7:11am
Epic Thread you Got going Mike, and i couldnt agree more with what you are saying!
// Jim Ægirson https://discord.gg/Dkm3demYsx
  • #156
  • Jan 10, 2024 7:40am Jan 10, 2024 7:40am
Quoting france001
{quote} total disaster {image}
give my momey back
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  • #157
  • Edited 10:09am Jan 10, 2024 9:35am | Edited 10:09am
Not so good day to my capability.

Why I say so ?

Have gone into floating DD early in asia.

Having said... i met target profit today
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Intraday only.
  • #158
  • Jan 10, 2024 2:54pm Jan 10, 2024 2:54pm
Quoting france001
{quote} total disaster {image}
Try to add a few more rules to your trading plan
Daily dd max allowed, Daily target, if you go past daily target becasue the setup presented itself. Dont allow a loss to be greater then you going below daily target. Example: You have a killer trade. You aim for 30$ a day. you hit 50$ from a trade. Lower your risk if you keep trading and only allow you to risk $20 from the 50$ profit... or leave it all together and be happy with it.

Also track track track! the more you find out about yourself with trading the better. Like Tom Hougaard found that his friend had his bad trading days after his big trading days. If he didnt trade the next day aftyer a big win his pnl curve would look way better.

Track your trading, keep stats. Check how you are around news, with after winning days, how you handle losses.
Become a data machine and track your best set ups, and mid and worst set ups.
"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
  • #159
  • Jan 10, 2024 2:56pm Jan 10, 2024 2:56pm
Quoting france001
{quote} give my momey back {image}
Gold is awesome to trade, can make huge profits, but also big losses. Also usually has lower leverage compared to other pairs.

FX pairs work great and easier to manage. Just advice not being asked about lol. But I found when I stopped trading gold (and I traded it for years) my pnl curve became x10 better
"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
  • #160
  • Jan 10, 2024 2:57pm Jan 10, 2024 2:57pm
Slow n steady.

Didnt trade much today. Just took 2 smaller trades. Was busy with other stuff
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"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
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