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  • #18,301
  • Edited 12:43pm Jul 28, 2023 12:31pm | Edited 12:43pm
Quoting pipmaster77
{quote} TBH, nobody should even be attempting prop firms UNLESS you are already profitable. Prop firms SHOULD exist for those who are profitable, but under capitalized. Of course, this is not how it works, as brand new traders think they are going to pass challenges and be trading 2 million dollars in 3 months. If one is profitable, unlimited time is a HUGE advantadge, the big downfall of the challenges was being forced to hit a target within a time frame. This leads to forced trading, over risking, etc. That is no longer an issue. If one is not...
I think differently. New traders should use challenge as learning tools in your trading, because you have to learn how to trade in real enviroment, how to manage risk , how to be profitable. How to control your fear and greed. . Those challenge fees are relatively small tuition comparing to you putting all in your personal account.

For example, you put $1000 in your personal account, you probably lose all in a month without good manament but you can buy 30 of $5000 challenge accounts with the same money, keep practicing in real trading envirment and till you are ready, once you can show you can be profitable in this business then you move up to a higher level $50K to $200K accounts, . Money will be ulimited once you gain the skills of trading....
  • #18,302
  • Jul 28, 2023 12:55pm Jul 28, 2023 12:55pm
posted in telegram prop group. should we laugh or cry ?
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  • #18,303
  • Jul 28, 2023 1:25pm Jul 28, 2023 1:25pm
Quoting Boulder
{quote} I think differently. New traders should use challenge as learning tools in your trading, because you have to learn how to trade in real enviroment, how to manage risk , how to be profitable. How to control your fear and greed. . Those challenge fees are relatively small tuition comparing to you putting all in your personal account. For example, you put $1000 in your personal account, you probably lose all in a month without good manament but you can buy 30 of $5000 challenge accounts with the same money, keep practicing in real trading envirment...
This is an excellent point.
  • #18,304
  • Jul 28, 2023 1:26pm Jul 28, 2023 1:26pm
Quoting Capablanca
posted in telegram prop group. should we laugh or cry ? {image}
who is it? which firm?
  • #18,305
  • Jul 28, 2023 1:59pm Jul 28, 2023 1:59pm
Quoting KoyaAndy18
for those who wanna save on evaluations like me, fxify has a good sale rn, only $60 for a $15,000 challenge. code is social 15k {image}
Seems like a good price, would like to give them a try for their fast payouts..
What are their commissions and spreads like on fx pairs and US30 and Gold..
Which one are you trading with one phase or two phase account..
  • #18,306
  • Jul 29, 2023 11:04am Jul 29, 2023 11:04am
Quoting pipmaster77
{quote} who is it? which firm?
It's still unknow, like the other one of the weekly payouts.
I'll drop a message if I see anything in the meantime.
  • #18,307
  • Jul 29, 2023 12:58pm Jul 29, 2023 12:58pm
Quoting Boulder
{quote} I think differently. New traders should use challenge as learning tools in your trading, because you have to learn how to trade in real enviroment, how to manage risk , how to be profitable. How to control your fear and greed. . Those challenge fees are relatively small tuition comparing to you putting all in your personal account. For example, you put $1000 in your personal account, you probably lose all in a month without good manament but you can buy 30 of $5000 challenge accounts with the same money, keep practicing in real trading envirment...
Better Said...
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  • #18,308
  • Jul 29, 2023 9:13pm Jul 29, 2023 9:13pm
Quoting Takisd
We have a shit company, but heres some boobs, we hope you will buy our program {image}
Rut Ruh.

Looks like boob girl Jana Seaman's hubby is in deep doo doo

https://www.sec.gov/news/press-release/2023-142
Pride always comes before destruction.... -Proverbs 16:18
  • #18,309
  • Jul 29, 2023 9:36pm Jul 29, 2023 9:36pm
Quoting Boulder
{quote} Better Said... {image}
If this is the case, then new traders should simply trade small lots or demo accounts.
Trading is gambling. So gamble responsibly.
  • #18,310
  • Jul 30, 2023 1:28am Jul 30, 2023 1:28am
Quoting Expo33
{quote} Rut Ruh. Looks like boob girl Jana Seaman's hubby is in deep doo doo https://www.sec.gov/news/press-release/2023-142
Almost like the TFT owner having previously owned FXSeed, a failed prop firm scam only with sec notices and being dumb enough to have surge's name on a legal paper.
  • #18,311
  • Jul 30, 2023 8:54am Jul 30, 2023 8:54am
Quoting Sovy
{quote} If this is the case, then new traders should simply trade small lots or demo accounts.
when you trade demo, how can you manage your emotion? you are missing the big part equation in the trading,
  • #18,312
  • Jul 30, 2023 9:31am Jul 30, 2023 9:31am
In my opinion, traders should start on demo and learn the basics first. Once you are consistently profitable, then move to a live account where you can further-develop your psychology and emotions, but start with a small balance. Many brokers offer demo accounts that simulate live conditions, so there is no need to start on live. Once you are consistently profitable on live, then move to a funded/prop account, but only after you have proven to yourself that you can pass the challenge and remain profitable for at least a month.

To each their own. Obviously, circumstances may vary. Some may do better by learning faster, under pressure, while others may do better by taking their time and burning through less capital. The psychology and emotions exist, regardless of the path that one takes, and will need to be faced eventually. The only difference is how well-prepared you are when the time comes that you need to face the psychology and emotions, as well as how much it's going to cost you to learn those lessons.

Learning trading can be as cheap or as expensive as you want it to be, to a point. It is all a worthwhile investment into your education, so long as you do not quit. Starting on demo is similar to knocking out general education requirements at community college before going to uni in order to save money and be better-prepared etc..
  • #18,313
  • Jul 30, 2023 12:32pm Jul 30, 2023 12:32pm
Quoting Nsak3y
In my opinion, traders should start on demo and learn the basics first. Once you are consistently profitable, then move to a live account where you can further-develop your psychology and emotions, but start with a small balance. Many brokers offer demo accounts that simulate live conditions, so there is no need to start on live. Once you are consistently profitable on live, then move to a funded/prop account, but only after you have proven to yourself that you can pass the challenge and remain profitable for at least a month. To each their own....

boulder is right...unless one experiences despair, despondency and depression...and reaches the state of praying to some shithead god and bargaining with him that you wont do something so stupid again if he just lets you recover to breakeven LOL...youll never learn or grow to be a better trader and you cant do that on demo.

when i started in 2000 forex was in its infancy. brokers used to requote you all the time. if you hit a buy button they came back with a requote that was worse for you than what you clicked. only way to learn was losing lots of money on futures since their minimums to open an account were 10k
nowdays a broker like oanda allows you to trade 5 cents a pip so you dont lose too much but still experience the emotions that come with losing money even if its just 75 cents being stopped out...the emotions will be the same as if it was 4500 dollars.

10 years ago when i tried out systems i never backtested only forward test....taking the 5 cent a pip trades and see if it made money at the end of the month

backtesting and demo are loser options
short trump and go long the deepstate
  • #18,314
  • Jul 30, 2023 1:17pm Jul 30, 2023 1:17pm
until you have been in a drawdown and experienced the depths of despair you never knew existed within you, you dont know what proper trading is
  • #18,315
  • Jul 30, 2023 1:52pm Jul 30, 2023 1:52pm
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The Journal company is owned by TFT owner.
  • #18,316
  • Jul 30, 2023 2:06pm Jul 30, 2023 2:06pm
Quoting Takisd
{image} {image} {image} The Journal company is owned by TFT owner.
same company that claimed they open MFF books and verified the payouts?

https://twitter.com/PropJournalist/s...83697046069249
  • #18,317
  • Jul 30, 2023 2:09pm Jul 30, 2023 2:09pm
Quoting pipmaster77
{quote} same company that claimed they open MFF books and verified the payouts?
No.

The prop journalist is that guy. This is Angelos replacement to trustpilot or some stupid shit.
  • #18,318
  • Jul 30, 2023 2:41pm Jul 30, 2023 2:41pm
Quoting Zebi
boulder is right......youll never learn or grow to be a better trader and you cant do that on demo. ... demo are loser options
-I disagree, obviously. I can personally attest to what I have said here.

But as I say, to each their own. Trading is not a one-size-fits-all kind of thing. Some people may actually do better going straight to live. But to say that demo is a loser option and that you can never learn or grow from it is very limiting. In most cases, it takes several years to become truly successful at trading, but it does not have to cost you any real money to learn the basics.

Putting yourself under unnecessary pressure early on can carry its own set of pitfalls and even prevent you from fully-optimizing your strategy. The added pressure of losing real money can also push some people to quit before they learn what is needed to be consistent. There are also some people that genuinely will not enjoy trading or will never be any good at it. Better to realize that without wasting real money.

It is not overly uncommon for even seasoned traders to return to demo from time-to-time. Sometimes, they hit a bad patch and need to reassess. Sometimes, they do it to get used to trading different volume before going live so that they can psychologically and mentally prepare for it etc..
  • #18,319
  • Edited 3:43pm Jul 30, 2023 3:31pm | Edited 3:43pm
Just saw this about Surge trader...is that one Kathy Lien and Boris promoted before? .. Glad I didnt buy any challenge from them

Surge Trader CEO EXPOSED by SEC in $35,000,000 Ponzi Scheme

https://www.sec.gov/news/press-release/2023-142

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  • #18,320
  • Jul 30, 2023 3:39pm Jul 30, 2023 3:39pm
Quoting pipmaster77
{quote} This is an excellent point.
I agree.
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