Get started

Propfirm

How to start as a trader, and have a good chance of making it.I have written on this subject before, see my signature. There is more though. If you are starting out, there is a LOT you need to know. I will start with some basics. Some of them you may scoff at, and say I am wrong, but I can assure you I am not. Truly. Read my previous post here: After reading that, you may well think again about trying trading. If the idea of taking a long time (at least 6-8 months for a natural) to learn something bothers you, or you need to make money NOW , then I would advise you that trading is not for you, or not yet, at least. For a start, being impatient is the absolute worst trait you can possibly have. If you still want to continue, then I can help you. You will have to have the patience to read a lot of words. 1. Pick an instrument you want to trade. If you are a stock trader it's different, because you should be trading the stocks that are "in play" that day. Typically I'd recommend the day after results/news came out, rather than the actual day itself, when you are starting out. Why? It's easier to see the way the price is trending, and the trend is your friend. If you are not trading stocks, I would recommend either a share index like SP500 or NASDAQ or FTSE or DJ30, or an FX pair that is NOT EURUSD. Oil and Gold are Ok too. Crypto I would not recommend for a beginner. Reasons: Let's start with Crypto. The big players can pay the exchanges, perfectly legally, to see your orders and stop-loss levels. This is not a personal vendetta against you. They can see the aggregate levels of millions of traders, and thus learn how to trigger bulk stop losses to make money off you directly. This is not legal in the other markets. The same manipulation is still possible, but not to the same extent. Why not EURUSD? It's the biggest and most popular FX pair, so the most big-boy games are played there, see the Crypto explanation above. The banks have access to millions of client positions, so they can see when their clients get squeezed, and they assume (usually correctly) that other banks' clients will be in the same boat. Why the rest? Tight spreads are common (look it up if you don't know what a spread is). Banks exert less control (though still some). Why pick one instrument? because you need to LEARN how it trades. This may seem weird, but each has its own character, and if you trade more than one, you won't notice it. You may be saying "But one pair will only give a few opportunities each day/week, why not trade more than one? This is related to a recurring theme in the way I teach: "Fewer trades, more quality trades, higher confidence trades". If you properly learn the character of one pair, then it's better than guessing in 3-4 pairs. A LOT better for your profits, and that is what counts. Next I am going to say only risk a max of 1% of the account per trade, and again your reaction might be "How am I going to make decent money with tiny risk like that?" Do the maths. If you do four trades a week(yes really just 4 a week), two wins and 2 losses at 2.5R (R is risk reward, so you lose max of 1%, and make 2.5% if you are right, then you will be up 3% in the week. 3% compounded over a year is 330%. Wow. How many hedge funds make that? You won't make as much as 3% a week, probably, but hopefully you can see that this is not too small. When you consider that a loss of 10% will blow most prop firm evaluations (see later), and even a good trader will some day lose 10 in a row just from bad luck, then 1% seems fine. So, we have one instrument and 1%. Next, paper trade first. Make your foolish mistakes on paper. Select a demo account and do not lodge funds with any broker at first. Choose a broker that offers consumer protection. This means that they are authorised/regulated by your country's regulator. Always do this. 2. Let's say you have succeeded at paper trading over a couple of months and you are tempted to start trading your own money. Stop. Lodging $5000 or more and just kicking off is not the way. 90% of new traders lose 90% of their money in the first 90 days of real trading. Instead, look up prop firm evaluation accounts. Also look up how to choose one, as they are not all the same by any means. This will give you the opportunity to trade a $10k account for $100. Your risk is $100 only. Typically, if you make 10% (ie $1000 in this example, then you get a "real" $10k account. Don't buy any more than a $10k account at first. You will learn so much more from this account (where if you lose you lose real money, even if it is only $100), than you did from the paper trading account. Real money = real pressure. You will really want to convert the account, and not blow it. It's pride I know, but it is much more realistic than a demo account. Paper trading is crap, really. Just use it to find the pitfalls of trading and learn the character. More tips in Part 2, but till then, think on this: Pass your $10k evaluation. make another $1000 in real money, keep $500 and pay $500 for a $80k evaluation. Now we're cooking.
COINBASE:BTCUSDEducation
by Paul_Varcoe
1
LIVE ACCOUNT or PROP FIRM? A Comprehensive GuideIn this video I discuss the pros and cons of trading with a Live Account or with a Prop Firm Account. Hopefully, this will give you a better idea on what would be more ideal for your situation and style of trading. The FIVE factors I will talk about are: 1. Account Ownership 2. Regulations 3. Profit Potential 4. Financial Risk 5. Trading Rules At the end of the day, as a trader you should ALWAYS manage your money and your risk. Every choice you make is a trade. When you go to work, you trade your time for money. When you drink a bottle of coca cola you trade your health for quick gratification. Everything is a trade. If you go with a prop firm, treat it with the same respect as a live account. If you trade with a live account with a small balance, treat it like it is a large balance. Your wealth is a consequence of who you are as a person and how you live your life. Trade smart, trade safe! - R2F
Education
by Road_2_Funded
How to win a PROP FIRM? Some life-changing trickSome people asked me a system to win prop-firm challenge and be funded. I decided to share some mind blowing trick that can really let you win your first prop firm and became really, really profitable. Lot of people ask lot of money for this, i am just asking a like, a follow and your support. So, let's start with some trick: - If you have a $10.000 account, what lot size will you use? - Most traders use 0.50/1.0 Lots a trades. Let me say, especially if you are a beginner, that this is wrong and you will fail 100%. Why? Because it will be really hard for you to manage emotions and be accurate. I know, some systems use 1:3, 1:6 or above R:R and you can also have a 30% win rate to be still profitable. I know that, i know how to increse accuracy, i know the best level to enter, the inducement entry, the high accuracy setup and most of the shit you can find online. But let's be honest, most of the traders that start a challenge account, sucks with system and will fail. And, most important, traders that start a challenge are not professionals that can spent 8/10 hrs a day waiting for the best entry. - So what system should i use to win a challenge? - Swing. Probably, if you start a challenge, you will fail in the first week. Go swing, wait for the profits, manage the entries, and using my money management system, you can chill and don't be worried during the challenge. - What about the money management so? - I will explain you better in a new thread, if this ideas will reach at least 15 likes. - This shit is not helpful, i there is nothing new that can help me. - So, i will show you something so simple that will change your trading style in a second. I suggest you to use cTrader. In cTrader, when you open a pair, you can see market sentiment. this will show you a ratio about long/short. When you see that the sentiment is imbalanced (More than 60% are long or short) you know that you should wait and not open a trades. You will see the sentiment increasing in long or short (it will be 80/20, and probably more in the next days). I am pretty sure your analysis are agree with the market sentiment. So, if 97% of the traders loose money and, for example, 85% of traders are short, what do you think the price will do? There are high chances will go in the opposite direction. So wait, and don't be worried to miss a profitable trades. Every trader is thinking exactly like you. Sentiment is telling you that. They will loose money at 97%, do you? I have lot of trick more that will really help you win a prop firm, and be profitable. Support and follow me and i will reveal more
Education
by SaliJournal
The Secrets of Making Four Figures Through Trading. The secrets of making four figures through trading. In this Trading view Post, we will explore the key strategies and considerations that can significantly enhance your swing trading results. As a forex coach specializing in this trading style, I'm excited to share valuable insights and empower you to achieve your financial goals. Small Accounts are Out, Prop Firms are In Problem : Insufficient Earnings with Small Accounts Solution : If you aspire to make four figures, it is essential to trade with five figures. Turning $100 into $10,000 or $500 into $100,000 is much quicker and more feasible when you have a larger capital base. With a prop firm, you can afford to trade less frequently and prioritize quality over quantity, eliminating the struggle often associated with small account trading. Implement a Proper Risk Management Strategy Trade with Skill, Not Luck To safeguard your capital and increase profitability, it is crucial to limit your risk on each trade to no more than 1%. This approach allows you to rely on your trading skills rather than luck. Remember, success in trading is a result of consistent and disciplined decision-making. Consistency in Risk Allocation Maintain a consistent 1% risk level as your account grows. As your balance increases, the amount of money you risk will grow proportionally. For example, if you start with a $100,000 account, you would risk $1,000 (1% of $100,000). As your account balance reaches $101,000, your risk would be $1,010 (1% of $101,000), and so on. Consistency in risk allocation ensures that your percentage risk remains the same while adapting to account growth and drawdown phases. Leveraging Position Sizing Based on Account Size Your position size, or lot size, plays a critical role in determining how much you value each pip movement. It is essential to find the right position size to prevent excessive drawdown or losses that can jeopardize your trading account. Position sizing calculations consider your account balance, percentage risk, and stop-loss levels. For instance, if your stop loss is 30 pips and you have a $10,000 account, your position size would be $100 (1% risk) divided by 30 pips, resulting in $3.33 per pip. Your lot size will be 0.33 per pip . By maintaining consistent risk management practices, you can aim for profitable trades while preserving capital. Focus on Higher Reward-to-Risk Opportunities Problem: Losing Trades Depleting Capital To sustain long-term profitability, it is essential to prioritize trades with a higher reward-to-risk (RR) ratio. Winning trades compensate for losing trades and help you overcome drawdown phases. Avoid subpar trades that you force or that fall below your minimum RR requirements. Strategies to Achieve Higher RR: Multiple Timeframe Analysis: Shorten Stop Loss Analyze multiple timeframes to identify strong trade ideas. Once you've determined a suitable trade on a higher timeframe, drop down to lower timeframes to tighten your stop loss. This approach allows you to manage risk effectively and maximize your RR ratio. Utilize Higher Timeframes or Tools: Extend Take Profit When dropping down to lower timeframes, refrain from shrinking your take profit target. Instead, utilize higher timeframes or tools like Fibonacci to extend your take profit level. By setting reasonable profit targets, you increase the potential for achieving higher RR trades. Main Talking Point 3: Quality Trades and 4-Figure Trade Planning Problem: Inconsistent Trading Results Solution: Trading with a focus on quality trades offers numerous benefits. By targeting high-quality opportunities and planning trades effectively, you can profit during trending markets, reduce mistakes, and avoid the need to chase after four-figure profits. Commitment to Make 4 Figures & Stay Under Drawdown Limits Plan Weekly and Allocate Resources Plan your trades every Sunday to determine the potential profit or loss for each trade. Identify high-quality opportunities and allocate 1% of your capital to each trade. Assess if each opportunity meets your minimum RR requirements and if it brings you closer to achieving four-figure profits. Example: $10,000 Account Suppose you risk $100 on Trade 1 and make $333 (3.33% return), followed by risking $103.33 on Trade 2 to make $516.65 (5.16% return). After two trades, you have earned $849.65, representing an 8.49% increase in your account balance. Continuously monitor and adjust your trades to maintain profitability. Is this possible? Yes! Is this easy? No! Why? Because you'll have to get out your own way and head to make this possible. While achieving consistent four-figure profits through trading requires dedication and skill, implementing the strategies discussed in this post can significantly enhance your chances of success. By trading with a prop firm, implementing proper risk management strategies, focusing on higher RR opportunities, and prioritizing quality trades, you can navigate the dynamic world of trading with confidence and boost your financial growth. Remember, trading success comes from discipline, continuous learning, and a well-defined trading plan. Best of luck on your journey to four-figure profits! Shaquan Hey! If you found this post valuable like the post and let me know below what was your takeaway❤️
Education
by ShaquanLopez
3
How you can make 6 figures a month using prop fundsFirstly you need to be able to acquire one account such as a 100k account. Assuming your target is $110000 you start by risking $500 a trade until you reach $3000. if you take losses you continue risking the same until you're back at the starting point. once you reach $3000 of profit you now up your risk to $1000 until you get to $6000 and then $2000. This should easily allow you to pass phase 1 of the challenge, you then repeat the same for phase 2. Once you receive your first funded account, you are now going to purchase another challenge and copy trade your funded account (master acc) onto the challenge. Repeating the above and considering you have a strategy with a good win rate, you are now able to make money while passing the challenges without having to trade 2 accounts manually. You continue this process and max your funding with one prop fund, and then move on to a second and so on until you have 7 figures in funding under your belt. The key is to remain focused and have your psychology and mindset on point. making a mistake on your master account is going to reflect on all accounts. The same goes with profits however. If you have 1 mill in funding and make 1% in a week on one of your 100k accounts, then the other 9 will also make 1% bringing you to a total of 10% ($100000) in one week. My favourite prop fund atm is properfunded.com
Education
by opes_trading_group
Advantages of Trading with Prop FirmsProprietary (prop) trading firms offer traders the opportunity to trade with the firm's capital, rather than their own, in exchange for a share of the profits. Here are some of the advantages and benefits of trading a prop fund account: Access to More Capital: Prop trading firms typically provide traders with access to significantly more capital than they would have if they were trading with their own funds. This allows traders to take larger positions and potentially earn greater profits. Lower Costs: Prop firms often provide their traders with access to discounted commissions, lower borrowing costs, and other benefits that can help reduce trading costs. Training and Support: Many prop trading firms offer training and support to their traders, which can be especially beneficial for those who are new to trading or who want to improve their skills. Shared Risk: Because prop trading firms are providing the capital, they share in the risk of the trades. This can be beneficial for traders who want to take larger positions but don't want to risk losing all of their own capital. Performance-Based Compensation: Prop firms typically offer traders performance-based compensation, meaning that traders are only paid a portion of the profits they generate. This incentivizes traders to focus on making profitable trades and can help align their interests with those of the firm. Overall, trading a prop fund account can offer traders access to more capital, lower costs, training and support, shared risk, and performance-based compensation. To find out about my favourite prop firms, comment below
COINBASE:BTCUSDEducation
by opes_trading_group
8
Lets talk prop firms❗Its the buzz words and hot topic of the moment! PROP FIRMS Before I start on this topic I want confirm I am a funded trader. This post isn't to promote this style of trading or prop firms. I am writing this post for those who may not understand what a prop firm is and to share my own experiences on the route to being a funded trader. What is a prop firm? Proprietary trading is where a firm trades for its own financial gain instead of earning commissions for clients. What is a prop trader? A prop trader is someone who uses that firms money to trade with and in exchange receives a wage or a percentage of the profits. Now those two statements above probably ring more true for those who work for financial institutes on trading floors all around the world. The propriety trading firms I want to talk about are the retail prop firms that usually for a subscription or a challenge fee will allow you as a trader to trade funds provided by them. Any profits you make on that account you as the trader will receive a share of the profits. Usually 70-80%. The business model has drawn a lot attention some good and some bad. So this seems a good starting point to discuss what we know of the business model. To become a funded trader with these companies you must either pay a subscription or take a challenge. You rules and conditions of which you have to abide by in order to gain and keep funded accounts. Subscriptions model This route to prop funding tends to be a monthly reoccurring payment. You are then given an account to trade with stipulations attached. For the subscription model the rules on the account tend to be very tight/strict and the fee can be quiet hefty. Challenge model This route to funding is where the trader pays an entry fee in to a challenge to prove their trading credentials. The trade will be set targets to meet over one or two phases in order to secure funding. The account will have rules and stipulations applied for example 10% overall draw down. If funding is secured then most companies refund the entry fee and you then as a funded trader earns money of any profits made on your funded account. So that's the options to becoming a funded trader. The retail prop firm business model has been criticised because some of these funded accounts are demo accounts once gained. Some say these companies only make money off failures and that's why even their funded traders who have passed are only ever trading demo accounts. Some prop firms on completion of challenges give you real accounts. But do we truly know they are real or does it just say real? A prop firm most definitely makes money from failed challenge attempts as part of it's business model. No one will ever know for real if they copy trade their top funded traders either. But in my opinion they would be daft not to copy trade consistent performers that take payouts of these firms every month because they exists. Prop trading pros and cons. Their is pro and cons to any choice in life and prop trading is no exception. I'll cover my personal pro and cons to the prop world below. PROS -For traders who are consistent and proven but only have small capital available, Prop trading is a good route to potentially larger trading pots. -Most prop firms have scaling plans -Prop firm gives trader the opportunity to funding most would never of got if they didn't exists. Most would never get an the opportunity to trade for a big institute. Prop firms bridge that gap. -Given the amount of firms popping up a consistent trader could soon find themselves with a diverse portfolio of accounts giving some life changing chances and monthly profit opportunity. -Most prop firms have favourable commissions and spreads with some having no commissions what so ever. -Reduced personal risk . Worse case scenario for a funded trader is losing the account rather than massive personal losses. CONS -Even when funded you have to adhere to rules and terms of the prop firm -You could spend big money getting traded -The health of the prop firm you trade for is unknown and one prop firm has already dis-appeared. -In reality the targets set are gain the funded account is quiet high at 8-10% in 30 calendar days. -Violation of rules ends in account loss. Summary I can only speak of the journey I have taken myself. For me the pros out weighed the cons when it came to seeking funding via these prop firms and the opportunities they offer. I personally don't mind paying a fee to enter challenges as you need some emotional attachment to the challenge in order for you to play your best trading game. If these were free to enter then everyone would just go big and all out to get funded then would do exact same if managing to get funded. That would be sustainable for no one. That's not what trading is about it's about risk management and emotional control which helps lead to consistent trading results. For a 100k challenge most prop firms charge between £400-£500 that is still a fair amount of money for anyone and you should be treating it as a serious venture if your not then you are simply gambling. Funded accounts being a demo account hasn't bothered me. I get paid when I'm in profit and that's all that matters. Spreading accounts over different prop firms lowers risk and exposure to losing all your funded accounts. One well known firm has gone and thankfully I wasn't with them but aiming for a few accounts with different firms lowers risk of finding yourself funded one minute then not the next. Are they a scam? In ever growing market place bad apples will be operating in the sector. As traders you have to do own research but plenty have been round for a while now with good reviews to boot. Trading in general is hard and gaining 8-10% in one month to pass then doing 5% the following is no easy feat. Get a game plan and strategy together, back test and forward test the live out of it and when consistency is there only then is it worth attempting funding challenges. Love them or hate them prop firms are here and making some noise. They offer opportunity a plenty but they do come with mystique attached. You as a trader and an individual have to judge if they are for you or not. Simple way I looked at the opportunity 1 Funded 200k account 3% profit per month = $6000 80% profit split= $4800 GBP= £3478 Approx equivalent to 57k GBP a year! Freedom can be closer than you think. Thanks for taking time to read my idea Darren.
Education
by pow_removetheguesswork