Prop Firm Hub

-This is the way that these accounts should be traded.

Unfortunately, most of the people that are signing up for these programs lack the proper experience, it seems. I would even say many of them are complete amateurs, just based on the questions that they are asking.

It does not help that these prop firms are setting a very irresponsible bar by requiring traders to generate 100% profit in 30 days. I say 100%, because your target is usually 100% of your overall draw-down allowance. And although flipping an account may be easy, it is not something that you should be aiming for because it will not be sustainable over the long-term. No professional trader would ever consider trading this way.

If you have a small, just-for-fun, account that you trade on the side, then sure, go for it. The odds are easily much better than what you might see at the casino on the weekends. But if you are hoping to trade for the long-term, then you need to learn how to manage risk properly.

I would venture to guess that most people that are getting funded, are losing their accounts shortly thereafter, because they are not practicing proper risk management. They are probably risking 1.5% to 3% on their single 200K account, thinking that they are going to make a great living, making 1K to 2K/day after taxes. Or, even worse, they are trading in the same way that they traded their challenge. But, as previously pointed out, the 1.5% to 3% should be based on draw-down allowance, because that is really what you are working with.

It is only a matter of time until the account gets blown.

What people should be doing (in my opinion), is this (just one example):

Get as many 200K accounts as you can. Try to aim for having at least 10 accounts. Recycle the refunded fee to acquire more accounts if your capital is limited. If you have the funds and the ability/confidence, trade multiple challenges at once, using a trade copier. Once you have multiple, funded accounts, trade the accounts using a reliable trade copier.

Start small. Instead of aiming for 3K profit, per account, per day, aim instead for about $300 per account, per day. You can still make your 3K/day (or 1K after-taxes) profit, but without taking on nearly as much risk. You allow yourself a ton of breathing room in the event that you hit a losing streak.

You can even transition to trading the accounts individually in order to mitigate risk if ever you take on too much draw-down and do not want to risk losing all of your accounts. Hopefully, you would not get close to doing that, though.

Between MFF and FTMO, you can have (5) 200K accounts. The other five accounts can come from other firms of your choosing. The more accounts that you have, and the more firms that you have accounts with, the more that you mitigate your overall risk.

You can elect to trade your master account on a VPN for additional protection, and just use an automated TP/SL to ensure that all of your slave accounts are protected in the event that something happens.

It might take some time to get this going, but the time and effort will be very worth it. Some of these firms have 5 or less required trading days now, so you can secure accounts very quickly. If ever you lose a challenge, treat it as a tax write-off.

It really irks me when I see some of these firms showcasing accounts that are generating a crazy amount of profits in a single month, as if it is something impressive. It is not impressive. It is irresponsible and reckless, and it sends a poor message.

Taking profit from the market is easy. Even flipping an account is easy. But learning how to not give it all back is the difficult part, and it is what separates seasoned traders from amateur traders. That may sound harsh, but it is the truth.

It is true, that only a small percentage of people are successful in trading. That is not because it requires genius-level thinking or because trading is so complex and difficult to learn etc.. Most people do not fail at trading. Most people quit at trading. That is the simple truth. The statistics are representative of that. People simply do not invest the proper amount of time to learn how to trade properly, with good risk-management, and they quit before they ever learn what is needed.

People pay a lot more money and spend a lot more time going after college degrees that yield them only a small fraction of the returns that trading can offer, where they end up having to work long hours, making someone else a lot of money, usually stuck in one place, waiting for their vacation time to roll around so that they can travel.

If someone asked you if you were willing to invest 4 years of your life, learning how to trade, but at the end of it all, you would be able to pull money out of the markets like an ATM machine, and never have to worry about money again, would you do it?

Unfortunately, most people do not think this way. They want to be rewarded as quickly as possible, making the maximum amount of profits as possible.

Either way, there has never been a better time in history to be a trader.

I saw an interesting discussion in the MFF discord the other day.

Some FT loser was claiming its easy to make 10% per month.

Josh at MFF said, its unrealistic to expect 10% per month over a period of 12 months, the guy started getting defensive and accusing Josh of shitting on peoples dreams. Josh said if you can make 10% per month he welcomes it but its unrealistic. The guy spazzed out and got offensive calling Josh a clown to which he got muted.

My perspective of the people who are jumping into this prop space is that they are all in all the time. Some guy went from 250k profit to blown account in like 2 weeks?

If all the prop firms are just bucketing orders, I dont' blame them when people are trading so disgustingly.

Across all my accounts whilst I haven't been allowed outside, I have made a lot of money (my mental health has been suffering through this though) but I have not gone near any daily drawdown on any of my prop firm accounts even on my losing days. It is obscene for anyone to have any issue with the prop firm rules (evaluation model rules) because to cry about those rules would indicate you do not respect the opportunity that is being handed to you. Essentially the rule is "Be professional and get paid".. its literally that simple, trade like a pro and make money. More money than you would make otherwise. But people still bitch and moan because the rule is X or Y. The people who bitch and moan about the rules are clearly not making money.

I was watching some prop firm telegrams, which unfortunately I have realized also doesn't help with mental health, and I can see them shitting on firms because they dont like a rule. If you don't like it, don't sign up for it, pretty simple. But for some reason people think their feelings can change a company?

Anyway, thats my essay for today, now to go back to sit on the couch under my blanket and shake my head at how awful squidgame was and how I only found out about it because of FT losers spamming memes about it in discord channels. Best I watch old episodes of Seinfeld.

-Even better, episodes of Curb.

Couldn't resist the 5ers boot camp. Personally, I like it.

I get to risk $58 to have a chance to buy 4K worth of drawdown for $278.

Signed up today and got my credentials within the hour. Not bad for a Saturday.

Aren't there like, 3 challenge phases for that? You might be better off doing The Funded Trader's free leaderboard challenge:

https://thefundedtraderprogram.com/leaderboard/

As I understand it, you follow the phase-1 challenge rules on your own demo account and compete with other traders. Each month, a winner gets a free 100K account. Instructions look pretty simple.

I'd rather just try and earn 24% in 12 months than support Blake and compete against 100s of other degenerates.

You mean, you wouldn't want to partner up with Super Blake and his team of seasoned experts?

i think it depends, , how much DD is acceptable for 10% growth, if its lower than 10% than its hard to make 12 months consistently,

I think it depends on the time frame you have to do it. You can make 10% even with 1% DD but it will take extremely long (unless you are lucky). Making 10% with 10% DD is not easy when you only have ~20 trading days

i think its possible, but really hard, im developing a trading system, so far i manually backtested for more than 15 months for 27/28 pairs and maximum drawdown around 15/1600 pips ( mostly below 1k pips, onlyy 2 months have 1200+) and return is more than 2k+ per month in pips. so if this method can apply here it can be, but the issue is it requires manual trading and almost 16-18 hrs of daily load( thats really hard and not posiible for 1 person).

ahahahahaha made my day.

I think that anyone who thinks they can make 10% per month consistently month over month needs to go back to their mac job. Once you hit 500k and you are using the margin required to hit 10% per month you will start feeling the effects of the market. The reason that hedge funds and banks don't make 10% per month is because you cant when you are a certain size. On a 1k account by all means its possible but your risk % is still high and you will last a year sure. But if you start at 200-300-500k you wont last long aiming for 10% per month.

Its why you know that the lambo chasers are morons and its the factoid that the instagram gurus leave out.

I tried the similar in the past, my lesson was fx pairs are not so suitable. Definitely not all of them traded by the very same system and same parameters (e.g. NNFX). I achieved best results trading US2000 and US5000, (US30 not so good) as those were better in following the mass psychology. FX pairs are more prone to market makers' manipulations which often deny the principles (at least in my experience) of automated systems.

15 months is not bad but my system usually worked very well over 12-18 months period only to break up on any other time range :-D

I start to believe the system works if it passes any selected 12-24 months window over at least the past 5 years

Another reason to trade with the props. Obviously, the larger the fund you trade, the less % return (and risk) needed to hit a $$$ target. When you shared with me your October returns, I was initially blown away, when I figured it based on the $$$ amount your trading with.....still EXTREMELY impressive, but not outlandish at all and obviously not being hit every month.

A single good month does not = 10% per month or 120% per annum. I highly doubt this month I will do the same, probably will lose in the end who knows with this market and whats going on.

Good man/Non-Binary.
Curb >>> Seinfeld.

I know someone who worked somewhere where he saw CRAZY...and I mean really loonie returns month on month. Though it wasn't exactly clockwork, they did a lot of non-directional stuff most of the time; and waited for certain times to drop the hammer...

I would've thought you'd be excited Takisd, with all the chatter on inflation about the place? That's a good measure of directionality to look forward to, no?

Ps. Congrats on the new house..

Ditto. Capitalization is such a big deal. In that respect, the big two props very much deserve the acclaim..

Thanks.. Directional market is nice for me yes but who knows what that means right now. Traditional markets are bubble, I have liquidated a fair bit and put into cash waiting for interest rates to go up and crash the shit out of the market. Also US legislation looks ripe for a market crash. Hiring Janet Yellen other than on sesame street is always a mistake.

Theres blood in the water. Best be a shark.

Some hedge funds have done a 300% year but the return came from 2-3 months max and they usually poop out the next year. That or get indicted for insider trading.

I don't know whether to be happy or sad about this; its a potentially the dream of a life time, 08 on steroids, but the real world effects...