Sell gbpusd

TP .1981

SL .2044

Break or bounce for CADJPY
Wait for a good rejection on close of 2pm 4H candle… to either go long or short

I was searching for something when I came across a question asked by Charley in last year FTA thread.. pls someone should clarify this question for me coz i have been looking for answer to this exact question.
I have to understand this enough before I venture into prop fund trading. Bellow is the question asked by boss Charley:

"Here is an idea of what I'm trying
to get at;
10k account
Open trade : 1% risk
target return (based on opportunity
presented):
8%
First price impulse moves equity
from 10k to 10,500 (i.e 5% gain),
Market makes a retracement for
second impulse sending equity
from 10,500 to 10,000 (I.e 5% DD)
Account lost
This is what I mean. I'm trying to
understand if that is how the
system works so I may plan
accordingly if I'm to consider the
option"

(MFF)

Fxwarrior:
Gold Alert

Sellstop @ 1710

Stoploss 1725

Target 1675

Still valid.

infofirst:


EJ and AJ on my mind.. Bullish bias from my end too

The 4H might invalidate this. I noticed a three top pattern frm the daily tf, structure broken and then a retest of the broken structure followed by the close of last 4H in bear favor.

realone12:
I was searching for something when I came across a question asked by Charley in last year FTA thread.. pls someone should clarify this question for me coz i have been looking for answer to this exact question.
I have to understand this enough before I venture into prop fund trading. Bellow is the question asked by boss Charley:

"Here is an idea of what I'm trying
to get at;
10k account
Open trade : 1% risk
target return (based on opportunity
presented):
8%
First price impulse moves equity
from 10k to 10,500 (i.e 5% gain),
Market makes a retracement for
second impulse sending equity
from 10,500 to 10,000 (I.e 5% DD)
Account lost
This is what I mean. I'm trying to
understand if that is how the
system works so I may plan
accordingly if I'm to consider the
option"

(MFF)

I believe this was settled. That is how the system works @karkinase fell victim, I think.

To manoeuver then is to become a daytrader or a really conservative short term trader.

realone12:
I was searching for something when I came across a question asked by Charley in last year FTA thread.. pls someone should clarify this question for me coz i have been looking for answer to this exact question.
I have to understand this enough before I venture into prop fund trading. Bellow is the question asked by boss Charley:

"Here is an idea of what I'm trying
to get at;
10k account
Open trade : 1% risk
target return (based on opportunity
presented):
8%
First price impulse moves equity
from 10k to 10,500 (i.e 5% gain),
Market makes a retracement for
second impulse sending equity
from 10,500 to 10,000 (I.e 5% DD)
Account lost
This is what I mean. I'm trying to
understand if that is how the
system works so I may plan
accordingly if I'm to consider the
option"

(MFF)

From your question is this whole scenario playing out within 24hrs that's same day ? .. because I only feel it will count if that running profit if $500 is carried over to the next day before falling back to $10,000

charly20:



I believe this was settled. That is how the system works @karkinase fell victim, I think.

To manoeuver then is to become a daytrader or a really conservative short term trader.

thanks for the answer boss.
but if this is how the system works, that's so unfair. or could it be that those who owns prop firms doesn't have idea how price moves? price doesn't just move up or downward without a little bit zigzag. how can they use this reality to set trap for traders?
for God sake I thought they (owners of prop firm) should only concern themslves with not losing the initial fund given to traders?
whether your floating profit falls down to break even or not shouldn't be their problem..
with this rules, every trader is at huge disadvantage because I see this more as a trap..

i think prop fund trading ain't for me..

realone12:
thanks for the answer boss.
but if this is how the system works, that's so unfair. or could it be that those who owns prop firms doesn't have idea how price moves? price doesn't just move up or downward without a little bit zigzag. how can they use this reality to set trap for traders?
for God sake I thought they (owners of prop firm) should only concern themslves with not losing the initial fund given to traders?
whether your floating profit falls down to break even or not shouldn't be their problem..
with this rules, every trader is at huge disadvantage because I see this more as a trap..

i think prop fund trading ain't for me..

I don't know about you man but I think one skill needed in this business is FLUIDITY. You have to be formless, the ability to switch between timeframes and still trade profitably is something.

The prop firm owners have their model. It will be in your best interest to adjust to be able to enjoy the opportunities that lie therein.

Take a trade, set an achievable TP within the trading day or trail your SL.

Cheers!

DestinyDjohn:




From your question is this whole scenario playing out within 24hrs that's same day ? .. because I only feel it will count if that running profit if $500 is carried over to the next day before falling back to $10,000

an talking about same day..
let's say for instance I have 10k mff account. and i place a trade (long) around 7am in the morning with 1% risk and a target of 6% profit.
around 2pm that same day, I'm in profit of about 5%. hoping that the price will go up a little bit to hit my TP
before 7pm that same day, the price fall and move down to touch my (break even) which is 5% equity drawdown from were it was around 2pm.
does this mean the account is gone?
take notice that the initially capital (10k balance) the prop firm given to me hasn't been touched. there is no losses on the 10k or whatsoever. does my equity rising to 5% in profit nd losing the 5% equity on a same day means The account is gone even when the initial 10k balance remain untouched?

charly20:



I don't know about you man but I think one skill needed in this business is FLUIDITY. You have to be formless, the ability to switch between timeframes and still trade profitably is something.

The prop firm owners have their model. It will be in your best interest to adjust to be able to enjoy the opportunities that lie therein.

Take a trade, set an achievable TP within the trading day or trail your SL.

Cheers!

boss thank you for ur insight.
but sir, I have one more question for you if u don't mind.
if you are to trade prop account, what do you think is the ideal R:R according to your perspective?

realone12:
thank you for ur insight.
but I have one more question for you if u don't mind.
if you are to trade prop account, what do you think is the ideal R:R according to your perspective?

I'm usually more concerned about how much risk I'm taking and my reward is whatever the market offers.

You should try searching for Gabson.fx's posts. I learned a lot when he was sharing his challenge updates.

Bottomline; Always know when to get out.

charly20:


I'm usually more concerned about how much risk I'm taking and my reward is whatever the market offers.

You should try searching for Gabson.fx's posts. I learned a lot when he was sharing his challenge updates.

Bottomline; Always know when to get out.

OK boss..
naturally, I'm a swing trader, just like you.
but for 7months now, I have been day trading on demo and it has been so far profitable.
sometimes I took trades that quickly ran into profit of about 5% of my account withing 4hours. and before u know what's up the 5% floating profit would be wipe of the account within 30minutes.
the beautiful part of trading is that same trade can still go on to be a winner in the evening.

if I understand what you are saying correctly, the moment the market retrace back and swallow the 5% equity that I gained earlier, I Don lose my account be that?

GOLD SELL 1720 - 1725
TP1 1715
TP2 1710
TP3 1705
TP4 1700
SL 1730

realone12:
an talking about same day..
let's say for instance I have 10k mff account. and i place a trade (long) around 7am in the morning with 1% risk and a target of 6% profit.
around 2pm that same day, I'm in profit of about 5%. hoping that the price will go up a little bit to hit my TP
before 7pm that same day, the price fall and move down to touch my (break even) which is 5% equity drawdown from were it was around 2pm.
does this mean the account is gone?
take notice that the initially capital (10k balance) the prop firm given to me hasn't been touched. there is no losses on the 10k or whatsoever. does my equity rising to 5% in profit nd losing the 5% equity on a same day means The account is gone even when the initial 10k balance remain untouched?

kiss the account Goodbye

DannyFX2638:
kiss the account Goodbye

damn!!!!! those people Na big thief.. its not worth the stress..
better to grow ur personal account..

realone12:
OK boss..
naturally, I'm a swing trader, just like you.
but for 7months now, I have been day trading on demo and it has been so far profitable.
sometimes I took trades that quickly ran into profit of about 5% of my account withing 4hours. and before u know what's up the 5% floating profit would be wipe of the account within 30minutes.
the beautiful part of trading is that same trade can still go on to be a winner in the evening.

if I understand what you are saying correctly, the moment the market retrace back and swallow the 5% equity that I gained earlier, I Don lose my account be that?

. Don't be too hard on yourself, the Daily drawdown (DD) can be calculated based on equity or starting balance of the day depending on the choosen prop firm, from my little knowledge (MFF) DD is taken based on equity and can only be effective once your opened positions is carried to the next day.. Example: If you have a running position today with a floating profit of 5% or over , and the trade retraces back and take all the 5%, your account is still intact.. You can only loose the account if you Carry the trade overnight with 5% or over profit and the trade retraces back to your entry position..

This is how i avoid the plot. 1 risk only 0.5% of your account 2. If you wish to go higher,make sure to close the trade by 10pm. For FTMO ,the max. DD is calculated based on the starting balance of the day. I was a swing trader but prop firm changed my mindset and approach towards the market.

DannyFX2638:
kiss the account Goodbye

No the account is still intact, he can only kiss the account goodbye if the floating profit disappears the next day

Fxwarrior:
Gold Alert

Sellstop @ 1710

Stoploss 1725

Target 1675

If you entered this trade. Don't close it. Forex is a mind game.

Galleryeasy:
. Don't be too hard on yourself, the Daily drawdown (DD) can be calculated based on equity or starting balance of the day depending on the choosen prop firm, from my little knowledge (MFF) DD is taken based on equity and can only be effective once your opened positions is carried to the next day.. Example: If you have a running position today with a floating profit of 5% or over , and the trade retraces back and take all the 5%, your account is still intact.. You can only loose the account if you Carry the trade overnight with 5% or over profit and the trade retraces back to your entry position..

This is how i avoid the plot. 1 risk only 0.5% of your account 2. If you wish to go higher,make sure to close the trade by 10pm. For FTMO ,the max. DD is calculated based on the starting balance of the day. I was a swing trader but prop firm changed my mindset and approach towards the market.

you just bring up my hope once more..
with the way you explained it, I think I will give prop a try..
thanks for your explanation.

realone12:
OK boss..
naturally, I'm a swing trader, just like you.
but for 7months now, I have been day trading on demo and it has been so far profitable.
sometimes I took trades that quickly ran into profit of about 5% of my account withing 4hours. and before u know what's up the 5% floating profit would be wipe of the account within 30minutes.
the beautiful part of trading is that same trade can still go on to be a winner in the evening.

if I understand what you are saying correctly, the moment the market retrace back and swallow the 5% equity that I gained earlier, I Don lose my account be that?

Real case scenario.. I enterd this trade on a 50k account last night this morning around 11am I was floating about $6K profit and it dropped back to $1k around newyork open, now floating on $10k profit, the account is still intact, I will close the position by 9pm today if it didn't hit my Tp

Galleryeasy:
No the account is still intact, he can only kiss the account goodbye if the floating profit disappears the next day

bro .. if 5% is gone , The account is already gone.. it's so far I know

Galleryeasy:
Real case scenario.. I enterd this trade on a 50k account last night this morning around 11am I was floating about $6K profit and it dropped back to $1k around newyork open, now floating on $10k profit, the account is still intact, I will close the position by 9pm today if it didn't hit my Tp

nice one .. are you still on evaluation??

Stalking GU sell from that resistance

DannyFX2638:
nice one .. are you still on evaluation??

Nah , that's $50k funded I passed last 2weeks. Just secured thalw account.

DannyFX2638:
bro .. if 5% is gone , The account is already gone.. it's so far I know

You need to revisit the rules again, if it were to be like that, I can never pass any challenge

Galleryeasy:
You need to revisit the rules again, if it were to be like that, I can never pass any challenge

pls can I use roqqu for bitcoin transaction to pay for mff

Galleryeasy:
Real case scenario.. I enterd this trade on a 50k account last night this morning around 11am I was floating about $6K profit and it dropped back to $1k around newyork open, now floating on $10k profit, the account is still intact, I will close the position by 9pm today if it didn't hit my Tp

U re doing well. Target for the month already met

ogashman:
Stalking GU sell from that resistance

This has been invalidated. Pls ignore

nzechu:
pls can I use roqqu for bitcoin transaction to pay for mff

you can any wallet, but I used Binance

ogashman:


U re doing well. Target for the month already met

Thanks papi, no more trade for the month, hitting 22%.. need to buy some candy

Galleryeasy:
you can any wallet, but I used Binance

ok, thank u