infofirst:



Yes we will by God grace. But we have to be sure @princeofwallstreet is not ready yet with his own

karkinase:

Yea bro.. competition yakpa na to get minimum of 30% be the koko now. TFT, Fundednext, MFFx, fundedEngineer

RKTexpert:
that A-Z motivational book featuring countless people sharing dia crappy trading stories and whatnut....

go read:
Market Makers Method by Steve Mauro
The Way of the Superior Trader by Forexia
The Candlestick Trading Bible by Kohanfx

Ibrahimlagosian:
Hello guys,it's been a while now.i want to start prop firm trading but i will like to give it a shot test,that is,i want to demo trade and understand the nature of prop firm trading before getting the live one,any advice and recommendations please?

pipfisher:
Since after last week's slippage on GBPUSD, my trading psychology was messed up. Lost 3.5% of my account instead of 1% risk I took. For this prop firm thing 2.5% is like 25%.

kozmicity:


Is the 30% their requirement or just a personal goal?

EASYLIFE4US:


I used to trade multiple pairs, then I changed and started trading one pair which was usdjpy then switched to gbpusd because I thought if you master one pair, you'll make less mistakes and be more profitable but that's quite far from reality. The best way out is master a strategy that can line up all the odds in your favour in any currency pair or stock or indices or futures etc and use stop loss as a safety net for re-entry( this is all you need for risk management), you only allow 2 trades max for any currency pairs. I tell you success won't be far from you.

OfficialP:
Here's the thought coming to my mind.

if you have 10000 prop account for. example, 5percent of it is 500 usd.

That's the actual capital you have to trade with. Trade the account with the mindset that your capital is 500, not 10000

OfficialP:
Here's the thought coming to my mind.

if you have 10000 prop account for. example, 5percent of it is 500 usd.

That's the actual capital you have to trade with. Trade the account with the mindset that your capital is 500, not 10000

OfficialP:
Here's the thought coming to my mind.

if you have 10000 prop account for. example, 5percent of it is 500 usd.

That's the actual capital you have to trade with. Trade the account with the mindset that your capital is 500, not 10000

OfficialP:
Here's the thought coming to my mind.

if you have 10000 prop account for. example, 5percent of it is 500 usd.

That's the actual capital you have to trade with. Trade the account with the mindset that your capital is 500, not 10000

EmmanuelVi:

Yes, you thought right, that is how prop firms are structured.
If you've got 100K account with 8% max drawdown, just take it that you've got an 8K account (8% of 100K) to trade with; so if you were to be risking 2% of your account per trade, it is best to reference that 2% risk to the overall capital you have to trade with which is 8K (for the 100K account instance), this would give you a risk of max $160 per trade compared to $2K per trade as relate to 100K.
If most prop traders thought like this and painfully followed that regiment, there would be a lot less blown accounts in the industry (at least, would take longer times to crash each one).

kozmicity:
Possible UJ re-entry.

My bosses, Infofirst, Samfelly, Karkinase and co, would there be another competition this July? And how do I get in?

RKTexpert:
I have alrdy signed up for 3 july competitions so far, God knows, e get the one wey I go gamble with it lol and he get the ones wey I go follow religiously to the end.
1. myfundedfx
2.funded next
3.TFT

EASYLIFE4US:


Daily risk=0.3% of capital
Max daily loss=5% of capital
Max loss =10% of capital
Capital= 10000
Daily risk=0.3% of 10000= 30
No. of daily risk=500÷30=16.666
Max entry per day=3
Max risk=1000÷30=33
Max no. of loss days in a row=33÷3=11days
With a capital of 10000usd, If your stop loss is 30 USD, with 3 entries per day, it will take you 11 days to breach maximum loss of 1000usd or hit the minimum 10% required to pass a challenge.

kendoschurrle:


good idea but also remember say the target na based on the total amount. you go need wait almost one year to pass phase one and two (unless say you dey pack 1000 pips every week )

how many people get that patience?

the prop firm wey you dey trade with fit don pack up before you pass too

if to say person fit trust these platforms completely ehen

the idea above make sense pass. trade that 8% ignore the big amount

Emmizay12:


all this one na suffer head, if a person doesn't know how to trade make him go back to the charts and brush up his/her strategy..
no profitable trader will listen to all this your mathematics,

OfficialP:
Here's the thought coming to my mind.

if you have 10000 prop account for. example, 5percent of it is 500 usd.

That's the actual capital you have to trade with. Trade the account with the mindset that your capital is 500, not 10000

Emmizay12:


all this one na suffer head, if a person doesn't know how to trade make him go back to the charts and brush up his/her strategy..
no profitable trader will listen to all this your mathematics,

karkinase:

Na one year you go use pass be that oo.. do you realize what it means to make 160% of the 500 capital.

Geovanni412:


No be small thing

Easylife4us, this your calculation no dey make life easy

Reduce am small make we follow...

How many pairs are being traded?

Emmizay12:


all this one na suffer head, if a person doesn't know how to trade make him go back to the charts and brush up his/her strategy..
no profitable trader will listen to all this your mathematics,

Emmizay12:
another mighty lie in this Forex industry is making traders believe that anything less than 1:2 risk to reward ratio na bad thing, like you can't be profitable with a 1:1

trying to always go for a 1:2 has really set me back in my trading journey,,

some days I stack up heavy lotsize for a 1:0.5 trade,,,
take profit and use the profit to enter another trade with tight stoploss, Two wins and my account is fat..


trading the markets is war, once you have profits(ammo) FIRE that lotsize!!!!

if it doesn't work go on the defensive

a good soldier knows when to advance and when to retreat,,,,,, no be only to the retreat everytime

Emmizay12:
another mighty lie in this Forex industry is making traders believe that anything less than 1:2 risk to reward ratio na bad thing, like you can't be profitable with a 1:1

trying to always go for a 1:2 has really set me back in my trading journey,,

some days I stack up heavy lotsize for a 1:0.5 trade,,,
take profit and use the profit to enter another trade with tight stoploss, Two wins and my account is fat..


trading the markets is war, once you have profits(ammo) FIRE that lotsize!!!!

if it doesn't work go on the defensive

a good soldier knows when to advance and when to retreat,,,,,, no be only to the retreat everytime

OfficialP:
It's not about having specific rr, you take what the market makes available.

We all trade levels or zones to zones, so you take profit at your zone, your SL is what determines the rr of the trade, not you.

Two people may trade the same levels, one may have higher rr than the other person.