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  • #27,701
  • Jan 3, 2024 12:00am Jan 3, 2024 12:00am
Quoting sheva89
{quote} whats the back up plan if the trade goes against you. It looks like theres no SL.
no back up plan. no stop loss
I have removed stop loss mentality from my mind.

Stop loss is needed for those who trade 10 lots in place of 1 lot.

Choose not, gold, Indices, cryptos to trade.

Prop firm provider is giving you 5 % DD.
Intraday only.
  • #27,702
  • Jan 3, 2024 12:18am Jan 3, 2024 12:18am
Quoting navk
{quote} no back up plan. no stop loss I have removed stop loss mentality from my mind. Stop loss is needed for those who trade 10 lots in place of 1 lot. Choose not, gold, Indices, cryptos to trade. Prop firm provider is giving you 5 % DD.
Don't know if I missed it, but can I ask how you’re trading? Trend following, return to mean?
  • #27,703
  • Jan 3, 2024 12:20am Jan 3, 2024 12:20am
One can see how I manage my risk of demo account with real money account.

Demo account # 201 $

Real money account # 43.71 $.

This is since Tokyo open.

May be... I do not need to trade for whole of wednesday !!.

This is how my setting works.
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Intraday only.
  • #27,704
  • Jan 3, 2024 12:22am Jan 3, 2024 12:22am
Quoting DwnUndrTrdr
{quote} Don't know if I missed it, but can I ask how you’re trading? Trend following, return to mean?
Good question.

Trading in a low volatile pair and small range session is good to make this percentage of profit ( 200 $ in a 5 k demo account )
Intraday only.
  • #27,705
  • Jan 3, 2024 12:56am Jan 3, 2024 12:56am
Quoting navk
This is just idea that has developed in forexfactory. Have three accounts 500 $ real money, + 2 nos 100k prop accounts. The earning at the end of 2024 : 1 ) 40 k profit for 6 monhts for each 6 month period. 80k for 12 month period. Three accounts 3 x 80 k = 240 k 2 ) Each prop account 100 k = 25k profit for 6 months. for 12 months, 50k. For 2 prop accounts = 2 x 50 k = 100k 3 ) Total earning by end of 2024 = 240k + 100k = 340 k
I am in as well…will start this way with fresh challenges accounts ….
Extreme gut feeling trader
  • #27,706
  • Jan 3, 2024 1:00am Jan 3, 2024 1:00am
Quoting montygoldy
{quote} I am in as well…will start this way with fresh challenges accounts ….
this seems to work well for real money account.

of course for challenge / funded accounts too.

Be careful to establish lot size multiplication factor in challenge / funded accounts.
Intraday only.
  • #27,707
  • Jan 3, 2024 1:06am Jan 3, 2024 1:06am
Quoting navk
why do I suggest trade in 5k demo account ? 1. Emotions are taken off.
If can't double 5k demo account without emotions, trading with $5k with emotions makes it easier to double it ?
I might be wrong , I have been wrong before
  • #27,708
  • Jan 3, 2024 1:09am Jan 3, 2024 1:09am
Quoting Mandariin
{quote} If can't double 5k demo account without emotions, trading with $5k with emotions makes it easier to double it ?
do it
whatever you do it..all yours.
Intraday only.
  • #27,709
  • Jan 3, 2024 1:58am Jan 3, 2024 1:58am
You are tellling me you aim to make 4% daily?Well in that case good luck.
  • #27,710
  • Jan 3, 2024 3:01am Jan 3, 2024 3:01am
Quoting Tobiazzek
You are tellling me you aim to make 4% daily?Well in that case good luck.
From the people that brought to you "can't keep a funded account without blowing it within a month", it's truly ambitious.
  • #27,711
  • Jan 3, 2024 3:32am Jan 3, 2024 3:32am
4% daily , no chance in my opinion. It will work until one two loosing trades. Than emotions, revenge trading etc. But I can say traders who achieve best results long-term doing day trading are the ones who make 1-3 trades daily, mostly after EU open and they don't trade anymore till next day. Met at least few traders who are doing it from years. The approach Navk proposed will work maybe for him because he trades GU only but if someone thinks that it's possible just do the same it not work like this. You must have winning strategy suitable to your personality first and than try to adapt something similar.
  • #27,712
  • Jan 3, 2024 4:31am Jan 3, 2024 4:31am
Quoting navk
{quote} Interesting math explanation : You have a 100 k prop account by which you have 5k dd. Effectively this is account balance ( not 100k ) You open 5k demo account. Trade in 5k demo account. Open a real money account 500 $. Copy 5k demo account trades to 100 k prop account and to 500 $ real money account. Target per day in 5k demo account is 20 pips or 200 $ When trades are copied to 500 $ account every day, your account grows in a cumulative manner, ends up as 40k in 125 days. When trades are copied to 100k prop account, it is 200 $ x 125 days...
ok I understand where you are coming from. On the other hand, small note: on the prop, when you win 200, you only receive 80% of this amount (not 200)
  • #27,713
  • Jan 3, 2024 6:50am Jan 3, 2024 6:50am
If you know how to trade and be profitable with a good risk management as I understand then all you need to focus on is the trading itself. Just grind til theres no emotions.
  • #27,714
  • Edited 8:21am Jan 3, 2024 7:37am | Edited 8:21am
2 nd day.

Hardly had Drawdown.

No bigger lots, no big deal.

Funded prop account too can be traded like this.
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Intraday only.
  • #27,715
  • Edited 10:11am Jan 3, 2024 9:37am | Edited 10:11am
Hi, does anyone trade on 5%ers here and maybe can advice on something. I have passed 1st challenge on 60k account and today I've started 2nd but I can't understand why there is added credit of $2641 on my account which f**ks up my daily loss limit now as the daily risk is $460 instead of $3000. Is this a trick by them or just a mistake. I contacted the customer support and they said it's odd and passed to technical team but haven't heard back yet. Do you guys know why it's like this? I was on MFF before they closed but they didn't have something like that. I really hope it's a mistake otherwise I feel like I have been scammed again after all that MFF mess.
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  • #27,716
  • Jan 3, 2024 9:50am Jan 3, 2024 9:50am
Quoting Xtronex
Hi, does anyone trade on 5%ers here and maybe can advice on something. I have passed 1st challenge on 60k account and today I've started 2nd but I can't understand why I have added credit of $2641 on my account which f**ks up my daily loss limit now as the daily risk is $460 instead of $3000. Is this a trick by them or just a mistake. I contacted the customer support and they said it's odd and passed to technical team but haven't heard back yet. Do you guys know why it's like this? I was on MFF before they closed but they didn't have something like...
Is it a live account? If so, if you do not withdrawal before they scale you, your profits roll into the new account. You ALWAYS want to withdrawal just shy of the 10% scaling target.
If it is still stage 1 or 2, I have no clue.
  • #27,717
  • Jan 3, 2024 9:52am Jan 3, 2024 9:52am
Quoting pipmaster77
{quote} Is it a live account? If so, if you do not withdrawal before they scale you, your profits roll into the new account. You ALWAYS want to withdrawal just shy of the 10% scaling target. If it is still stage 1 or 2, I have no clue.
It's a stage 2, I hope it's a mistake
Thank you for the advice for a live account
  • #27,718
  • Jan 3, 2024 9:58am Jan 3, 2024 9:58am
Quoting pipmaster77
{quote} Is it a live account? If so, if you do not withdrawal before they scale you, your profits roll into the new account. You ALWAYS want to withdrawal just shy of the 10% scaling target. If it is still stage 1 or 2, I have no clue.
Now that I've looked at your dash screenshot, I see it is stage 2. So they rolled your stage 1 profits into stage 2?
  • #27,719
  • Jan 3, 2024 10:00am Jan 3, 2024 10:00am
Quoting pipmaster77
{quote} Now that I've looked at your dash screenshot, I see it is stage 2. So they rolled your stage 1 profits into stage 2?
Yeah but profit for stage 1 was 4.8k, I have no idea where this 2.64k number come from
  • #27,720
  • Jan 3, 2024 10:04am Jan 3, 2024 10:04am
Quoting Xtronex
{quote} Yeah but profit for stage 1 was 4.8k, I have no idea where this 2.64k number come from
Anyway, I'll keep updated here so anyone knows how this resolves and what kind of company they are
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