₦airaland Forum

GarkiAccessory:
Sir please don't go back to trading currency stay on gold 🙏🏽

Kaesyrn:
New thread !

I'm seated and active here, lfggggg

infofirst:
Following

Donsheddy:
Happy New Year Guys..
I want appreciate everyone that is following my journey and also adding and sharing knowledge with me, i appreciate...
Last year didn't end the way i wanted it to bur trust me it was a wonderful year, i experienced major improvement on different areas i focused on..
I recorded improvement in my habit of over trading and opening multiple positions...
I also improved my exit strategy the one i talked about last year...
I'm still far behind in discipline and overzealousness and that's one aspect im focusing this year, i feel im getting very close to attaining sustainable profitability..
But I'm not there yet but 2025 I learnt a whole lot....
I started last year with low psychology and i ended the year on a little higher psychology and confidence....
I experienced ups and downs but overall i learnt alot...
Last year i got funded on various accounts and also lost so many accounts....
But those losses and profitable run helped me to get better and also discover some aspects of this journey where i still need major improvements...
I got funded with dna funded last year 5k account around August and i traded that account untill last week of November before i lost it, made about 6 withdrawals on the account that amounted to over $800
And also on the 10k instant account i did 2 withdrawal that was over $300.
Before i lost both accounts...
I got carried away by my consistency i started feeling invincible and i went against all the rules that got me funded in the first place, and i paid dearly for it....
This aspect of trading isn't talked about enough....
Even winning can make you lose it....
I also got funded on a 25k account and 10k account...

Next paragraph I will give a detailed account of reasons why i lost my accounts


Link to my previous diary

2023
https://www.nairaland.com/7212122/prop-firm-practice-diary-please

2024
https://www.nairaland.com/8126804/prop-firm-live-account-withdrawal#130506762

2025

https://www.nairaland.com/8456471/forex-journey-prop-firm-practice

blackman007:
God bless your for sharing your journey in a bit to help yourself and others who are still trying to find their path in this business..

Donsheddy:
Thank you bro

Donsheddy:
I'm here to lay down my plan for the year and how i intend to kick start it...
I currently have..

2x 100k account with blueberry phase 1

2x 50k account with dnafunded phase 1

3x 25k dnafunded account two in phase 1 and 1 is funded accout.

1x 25k account with fundedprime

1x 50k account with fundedprime

1x 10 instant account with DNA funded

1x 100k account with fundingpips tho in very deep DD....

I will start the year by trading the two 100k account from BB, 1 50k account from dnafunded, , the 25k funded and 10k instant.

100k
100k
50k
25k
10k

The funded accounts are currently in DD 2% so i need to come out of DD first before thinking of profit .

I intend to use
0.34 lot on the 100k.
0.25 lot on the 50k
0.1 on the 25k
0.04 on the 10k

Im giving myself 7 months to complete this task by his grace, I don't want to rush it i want to take my time

samfelly:
7 months no too small on all so?

This month makes it 7 month since I have been trading one of my account I have with PipFarm. The roller coaster no bi small - up today, down tomorrow

blackman007:
You are always welcome, Sheddy please I have a question for you, how many trades do you take averagely on a monthly basis? And what’s your reason for sticking to only gold?

Donsheddy:
Risk management approach...
I want to move away from weekly target to monthly target or no target at all..
My anthem this year is to take whatever the market gives me by following and respecting my exjt strategy...
By im hoping to achieve at least 600 pips monthly...

Meaning every month im looking at

100k 2% monthly..
50k. 3% monthly
25k. 2.4% monthly...

I also want to use this medium to appreciate my boss infofirst and also members for NAIRALAND FTA FAMILY...
THIS YEAR SHALL BE FRUITFULL

Donsheddy:
Follow my bb account progress

Account 1

https://dashboard.blueberryfunded.com/metrics/6943cc4d5360b76a917e920a

Account 2.


https://dashboard.blueberryfunded.com/metrics/694cec172cabfae70b4e9fd5

samfelly:
You see this weekly or monthly target of a thing, I no dey do again, because consistency rules (different among firms) don complicate things - as I fear to say simplify things - for me.

It's either I meet d required consistency rule for d day's closing profit or I lose enough for d day and start recovering (if I did not hit daily drawdown for that day), the next day (or days).

So, as you're leaning toward monthly target, 2% to 3% is just rightly doable. Since it's a low hanging target (fruit).

Happy trading, chief.

Donsheddy:
Trade 1

Bought Xauusd

Entry 4489
Sl 4482

Tp Open e

blackman007:
Please Sam, what’s the meaning of consistency rule in proptrading?

Donsheddy:
Trade 3

Sold gold 4429
Sl 4437

samfelly:
First, let me drop these two different examples to explain it, a little - with trades idea and 10k being the account size.

Example 1, you take 5 different trades with various profits (or losses), as follows;

Trade 1: +$150
Trade 2: -$490
Trade 3: +$180
Trade 4: +$280
Trade 5: +$240

Example 2, you take 5 different trades with various profits (or losses), as follows;

Trade 1: -$90
Trade 2: +$730
Trade 3: +$100
Trade 4: +$50
Trade 5: +$130

In the above two examples, which would you pick as consistent? If you pick number 1, you're correct.

By the way, in my opinion, prop firms do not really care about the losses you make. They are bothered about the profits you make. That's why they introduced consistency rule - to thwart one's progress.

So, to apply it, lets say the firm you're using says 30% is their consistency rule. It therefore mean that the profit you make at the end of the trading day should not be above 30% of your payout (for funded stage) or 30% of your profit targets (for evaluation stages).

Example for FUNDED STAGE

Lets say you have a $10k account. And you intend to withdraw $2,000. Then $600 ($2,000 x 30%) is what you are allowed to make at the end of the trading day as profit.

Formula: $2,000 x 0.3 (30%) = $600

If you make above $600 in a single day, then you'll have to make more than $2,000 for your withdrawal to be approved.

Lets say you now make $720 profit at the end of a trading day, then you'll need to make $2,400 as total overall profit before you can request for payout.

Formula: $720 ÷ 0.3 (30%) = $2,400


Example for Evaluation Phase 1 (10%) and Phase 2 (5%)

Since $1,000 is the profit target for phase 1 of a $10k account, then $300 is the profit you have to make at the end of any day you trade.

Formula: $1,000 x 0.3 (30%) = $300

kasiramji06:
Jumping in on this older post because I’m curious how your prop firm practice has been going lately. Have you made any changes to your trading plan since then? I’ve noticed many traders are now focusing more on risk-per-trade limits to stay consistent, especially with tighter prop firm rules. Would love to hear what’s been working for you or anyone else still following this.