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  • #19,161
  • Aug 29, 2023 5:09pm Aug 29, 2023 5:09pm
Quoting youngD
I trade indeces and tried this futures companies but without success. This trailing dd will kill you because us indeces are volatile.
You can trade micros like MNQ, MYM or MES. But you technically has 20 days to pass challenge otherwise there is monthly fees waiting.
  • #19,162
  • Aug 29, 2023 5:30pm Aug 29, 2023 5:30pm
Quoting KoyaAndy18
{quote} I apologize for if i sound humble bragging or just bragging in general. But am I or anyone who can pass and make withdrawals multiple times in a prop firm considered a good trader already. man those stats are very low. I do fail challenges but so far all the losses I made back then when I was trading with a broker are already taken out due to prop firm profits.
Theres a misconception that once funded it’s it’s all easy peasy from there on out.

The reality is far different from what’s portrayed on social media. Trading a live account successfully is a grind and rather boring. You have to stay focused. There are good days and bad days. There’s winning streaks and losing streaks. You no longer get that rush from winning trades. The excitement is muted. You identify a setup, execute and close in profit.

Then get up the next day and do it again. Regardless of whatever is going on in your personal life.

People get hooked on that rush of a successful trade. Much like gamblers they chase the rush, regardless of market conditions.
Trade with confidence, trade without fear.
  • #19,163
  • Aug 29, 2023 5:52pm Aug 29, 2023 5:52pm
Quoting Cryptosurf
{quote} Theres a misconception that once funded it’s it’s all easy peasy from there on out. The reality is far different from what’s portrayed on social media. Trading a live account successfully is a grind and rather boring. You have to stay focused. There are good days and bad days. There’s winning streaks and losing streaks. You no longer get that rush from winning trades. The excitement is muted. You identify a setup, execute and close in profit. Then get up the next day and do it again. Regardless of whatever is going on in your personal life....
Succesful trading should be boring and emotionless. Not too high when you win, not too low when you lose. Make a certain % for the day OR lose a certain % and close up shop.
  • #19,164
  • Edited 7:00pm Aug 29, 2023 6:33pm | Edited 7:00pm
Quoting pipmaster77
Succesful trading should be boring and emotionless. Not too high when you win, not too low when you lose. Make a certain % for the day OR lose a certain % and close up shop.
-Very true. Trading indices for years, I have learned to only trade a very specific window because I know that the market will move differently outside of that window due to different money moving the market; it can take on a different behavior or personality. I have become intimately familiar with the time-blocks that I trade. This helps me to mitigate risk. I use an indicator that highlights the time-blocks so that I do not trade outside of the designated zones.

Once you study the charts long enough and various time-blocks etc., you can see not only how the market generally moves during that period, but also which time-frames are dominate and whether indicators and/or support & resistance etc. are big drivers.

I think that this is a very important lesson for new traders, because it is easy to get stuck in a trap, constantly failing and jumping from strategy-to-strategy because it works sometimes but not others etc., without even realizing why it is happening. Over-trading can be a killer because of this.

Another tip that I can give new traders is to get familiar with multiple time-frames for the sessions that they trade. They should learn how to discern bigger market direction by using the higher time-frames, and then use the smaller time-frames for entries and exits. Also, don't quit.

At the end of the day, chart time really matters. I suspect that many traders that are doing challenges have not spent nearly enough time studying the charts as they should have.
  • #19,165
  • Aug 29, 2023 6:46pm Aug 29, 2023 6:46pm
Quoting pipmaster77
{quote} Succesful trading should be boring and emotionless. Not too high when you win, not too low when you lose. Make a certain % for the day OR lose a certain % and close up shop.
Excellent advice.
Intraday only.
  • #19,166
  • Aug 29, 2023 6:59pm Aug 29, 2023 6:59pm
Quoting pipmaster77
{quote} Sure, but if you are a profitable trader (the 1%), the forex props are still a better deal. Why would one trade where they will make less money and/or have more restrictions? Just asking. I trade with 4 forex props and I trade futures on a live account with amp.
you trade with 5ers and / or TFTP ?

How is 5 ers in specific ? never given a try
Intraday only.
  • #19,167
  • Aug 29, 2023 7:54pm Aug 29, 2023 7:54pm
Quoting Nsak3y
{quote} I have become intimately familiar with the time-blocks that I trade. This helps me to mitigate risk. I use an indicator that highlights the time-blocks so that I do not trade outside of the designated zones.
Same here. For indicies this is key.
Trade with confidence, trade without fear.
  • #19,168
  • Aug 29, 2023 8:52pm Aug 29, 2023 8:52pm
Quoting navk
It is nice to see my name in Leader board.. in myfundedfx. Though it is 410 th place.. Yeah.. there is reason. I am just 3 trading days old in the funded account 100k. I guess others can see only upto 10 th place. When I come in top ten.. I will inform you guys.
Improved from 410 th place to 282 nd place in Leader borad in myfundedfx.

Intraday only.
  • #19,169
  • Aug 29, 2023 9:22pm Aug 29, 2023 9:22pm
Quoting navk
{quote} you trade with 5ers and / or TFTP ? How is 5 ers in specific ? never given a try
MFF, FTMO, TFF and TFTP.
  • #19,170
  • Aug 29, 2023 9:46pm Aug 29, 2023 9:46pm
Quoting Nsak3y
{quote}-I think, trading for props can change things. First, the challenge typically requires an account flip. This already can change the dynamic and psychology for some traders. It used to be worse with time-limits. The idea of having potentially more capital than you ever have can also change how you trade. Greed can be a real problem. The added leverage, with daily draw-down rules, etc. is something that many traders may not be used to. All of these things can cause some traders to trade differently. We also do not know the 'why' for all traders....
Some good points made Nsak3y.
  • #19,171
  • Aug 29, 2023 9:48pm Aug 29, 2023 9:48pm
Quoting pipmaster77
{quote} Succesful trading should be boring and emotionless. Not too high when you win, not too low when you lose. Make a certain % for the day OR lose a certain % and close up shop.
I agree with this approach. Process based on knowledge and experience and executed well.
  • #19,172
  • Aug 29, 2023 9:52pm Aug 29, 2023 9:52pm
Quoting navk
{quote} you trade with 5ers and / or TFTP ? How is 5 ers in specific ? never given a try
They have great sprds and not the same broker most use. They say they have instant funding and real capital but the options are not too cheap. $10k for $260ish.
I'm looking for three different ones to trade with and they will be one. Still deciding on the other two. MFF and CTI perhaps. Not interested in the 'let's all use the same broker' crowd.
  • #19,173
  • Edited 1:00am Aug 30, 2023 12:48am | Edited 1:00am
Those that also trade with TFT is there any difference with slippage 8cap vs Thinkmarkets vs purple?
  • #19,174
  • Aug 30, 2023 2:56am Aug 30, 2023 2:56am
Quoting navk
FXIFY Passed phase 1 . 10 % done. Today is completion of 5 th day. {image}
Impressive results you got there navk,congrats. I was wondering if you have any scripts which opens peninding buy or pending sell orders 1st entry being at the market price. and simaltaneously placing pending buy or sell.

If you have any such scripts please share thank you
Avoid what is Strong,Strike at what is Weak
  • #19,175
  • Aug 30, 2023 3:15am Aug 30, 2023 3:15am
Quoting sampat
{quote} Consistency Rule doesn't matter. It just delays payout. You can't make more than 30% of overall profit in a single trading day. It should not be a deal breaker as you trade more till your overall single day profit goes below. It is not any form of violation. Also you can't straddle on news (funded or evaluation)
I don't like this:
Quote
We are looking for consistent and disciplined traders that have an actual trade system, not a " bet it all and hope to be lucky" system. Traders shall have a defined strategy or system that has set rules for entry, stops, targets, trailing and use these rules consistently and with discipline. Trading a normal day to day system that is set, tracked and explainable upon request. News trading, chasing the market, taking advantage of breakouts with no system, morning open, any attempt for "windfalls" without following a strict, set, systematic trading...


Too subjective rules to allow payment denial.

- First of all, it is obvious that we have to change strategy, depending if the market is trading or in a range.

- Second, morning open is a strategy it self. Same for breakouts. I use opening breakouts which means sometimes I trade quickly after the open, sometimes only at lunch time and sometimes don't trade at all.

- And, finally, I don't want to have to explain my strategy to anyone.
  • #19,176
  • Aug 30, 2023 3:53am Aug 30, 2023 3:53am
Quoting magentfx
{quote} Impressive results you got there navk,congrats. I was wondering if you have any scripts which opens peninding buy or pending sell orders 1st entry being at the market price. and simaltaneously placing pending buy or sell. If you have any such scripts please share thank you
I have no scripts.

All trades are opened manually.
Intraday only.
  • #19,177
  • Aug 30, 2023 4:06am Aug 30, 2023 4:06am
Quoting Capablanca
{quote} I don't like this: {quote} Too subjective rules to allow payment denial. - First of all, it is obvious that we have to change strategy, depending if the market is trading or in a range. - Second, morning open is a strategy it self. Same for breakouts. I use opening breakouts which means sometimes I trade quickly after the open, sometimes only at lunch time and sometimes don't trade at all. - And, finally, I don't want to have to explain my strategy to anyone.
Don't worry:
Inserted Video
.
  • #19,178
  • Aug 30, 2023 4:54am Aug 30, 2023 4:54am
Quoting navk
{quote} Improved from 410 th place to 282 nd place in Leader borad in myfundedfx.
I am leader...no. Not yet.

Just 267 th place.
Intraday only.
  • #19,179
  • Aug 30, 2023 5:13am Aug 30, 2023 5:13am
Quoting navk
{quote} I am leader...no. Not yet. Just 267 th place.
how many prop account do you make real ?
I will succeed Not immediately... but definitely
  • #19,180
  • Aug 30, 2023 6:04am Aug 30, 2023 6:04am
Quoting Phoenix-
{quote} how many prop account do you make real ?
MFF, FTMO, myfundedfx real.

FXIFY will be today real.

In mfew mnutes/hours i am going to make it real

Intraday only.
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