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  • #36,361
  • May 12, 2024 11:47am May 12, 2024 11:47am
Quoting Lrg
{quote} Can you also make withdrawals from prop firms into this account and transfer to your local bank acc and can anyone use Wise irrespective of which country you from or European countries only for this system..thanks
Yes it will be like local bank. You can treat like Multi currency wallet
  • #36,362
  • May 12, 2024 1:25pm May 12, 2024 1:25pm
Quoting Lrg
{quote} Can you also make withdrawals from prop firms into this account and transfer to your local bank acc and can anyone use Wise irrespective of which country you from or European countries only for this system..thanks
careful with Wise, made my life difficult after I received like 5-6k in prop money, held account frozen for almost a month. Customer support was awful, definitely not doing anything through them except get some contracting work paid and keeping a bare minimum in account.
Wise is not prop friendly.
  • #36,363
  • May 12, 2024 1:36pm May 12, 2024 1:36pm
Quoting LehmanBrotha
{quote} careful with Wise, made my life difficult after I received like 5-6k in prop money, held account frozen for almost a month. Customer support was awful, definitely not doing anything through them except get some contracting work paid and keeping a bare minimum in account. Wise is not prop friendly.
May I know what reason they gave for freezing funds? I am using from last 5 years surprisingly they are faster than local bank.
  • #36,364
  • Edited 2:19pm May 12, 2024 2:05pm | Edited 2:19pm
Quoting sampat
{quote} May I know what reason they gave for freezing funds? I am using from last 5 years surprisingly they are faster than local bank.
how much you have withdrawn in total with Wise ? Same or different props ? Could be the reason..
  • #36,365
  • May 12, 2024 2:12pm May 12, 2024 2:12pm
Hi guys.
How much do you think its acceptable to make per month with prop firms to stay under the radar?
  • #36,366
  • Edited 5:17pm May 12, 2024 5:05pm | Edited 5:17pm
Quoting Cryptosurf
{quote} Agree 100%. There's a trap that people fall into thinking trading success is plotted in a excel formula. A good portion spend more time plotting and day dreaming about mountains of money then trying to pull profitable trades. The bigger the number the bigger the mental drain. Losing a $1000 trade weighs more then a $100 trade. If compounding then there's days where you'll lose a $10k or a $100k trade in one day. Those losses can break ones brain. Perfect example is Jesse Livermore. He was touted as a marked wizard only to put a gun in his...
The other issue never factored into these fantasy spreadsheets is that liquidity is not infinite. That 500 lot GBP/JPY trade with minimal slippage is never happening. In fantasy projections, the system I use @ Apex & AMP would turn me into a billionaire within 5 years due to compounding... In reality, a 130-150K account @ AMP = max position size with no ability to scale further due to L2 volume limitations.
  • #36,367
  • May 12, 2024 5:20pm May 12, 2024 5:20pm
Quoting navk
6k profit on a 100k account In reality, 300 $ per day profit on a 10k deposit ( Max dd ) Is it too difficult ? greediness, fear all must go in order to maintain consistency. Do 300 $ by trading gbpusd when London opens then quit trading for that day. I mean trading long or short gbpusd 3 lots ( for 10 pips ) or 2 lots ( for 15 pips ). Is it impossible in a funded account ?? The basic thing ( habit ) what traders is to living on computers to make a million overnight. That is the mistake one makes and loose consistency.
Hi Navk,

No one makes profit every day in trading in real life. Let's stop this fanciful imagination and face real life. If anyone claim it's doable, let him or her show his or her trading history of past 6 months. I have positive mind but I do not like seeing posts that give new traders fake hope that will make them to doubt their abilities when they failed to achieve such imaginary result.

I have been trading since 2008 and I have more losing days than winning days. I turned 1k to 6k in 2008 with a broker called Fleet forex in the USA then and they banned me but since then, I have not been able to reproduce such result. I hardly lose account but loss do occurred. I have 100k funded account with FTMO and I do not plan to achieve certain percentage every month but to trade and ensure I keep making profit no matter how small it is. I received first payout from them on May1, 2024 and I will be requesting for another payout on May 17, 2024.

No one makes profit every single trading day in FX and that's fact we must all accept.
  • #36,368
  • May 12, 2024 5:21pm May 12, 2024 5:21pm
Quoting MoHoSK
Hi guys. How much do you think its acceptable to make per month with prop firms to stay under the radar?
it used to be <8K.... these days it's anyone's guess
  • #36,369
  • May 12, 2024 5:41pm May 12, 2024 5:41pm
Quoting stirmatt
{quote} Hi Navk, No one makes profit every day in trading in real life. Let's stop this fanciful imagination and face real life. If anyone claim it's doable, let him or her show his or her trading history of past 6 months. I have positive mind but I do not like seeing posts that give new traders fake hope that will make them to doubt their abilities when they failed to achieve such imaginary result. I have been trading since 2008 and I have more losing days than winning days. I turned 1k to 6k in 2008 with a broker called Fleet forex in the USA...
Playing devils advocate one can make profits more than 300$. I think there should be target lower target and upper target limit and most important daily loss limit.
Also we are not hedge fund one needs to take risk to make money. Once account gets bigger percentage makes more sense before that dollar value is more important.
For example making 5$ on 100$ account is easy as an 10-15$ dollar loss doesn't rattle my psychology. But loosing 5K-15K on 100K real account will change everything.
  • #36,370
  • May 12, 2024 5:42pm May 12, 2024 5:42pm
Quoting navk
{quote} I will be happy with 1 million in a year though !!
only until you get there, and then you want increase to 2 and then 3 and so on because its not so difficult to do any more. of course in daytrading you need to add more strategies because you cant add more volume in your trades at one point (until you reach some million per trade/ or 20-100 lot if calculate in lots). and this more time you dont want do in any year.
  • #36,371
  • May 12, 2024 5:59pm May 12, 2024 5:59pm
Quoting RiskFighter
Lower chance of winning? The guy is a multi millionaire. Done by trading. I don't think anybody in this thread comes close to his succes. I take his advice at any time. Or would if I were able to trade manually. He does use loads of time to analyze statistics. Much more than any trader in this thread I am sure. And he is a winner - a sky high winner. He made multi millions over one christmas week based on his statistic investigations that told him to be ready. And he showeled money into his pocket while at the same time sitting at the table having...
i don't know if he is better, never compared to him, because would need to compare the live accounts. i would need to check how much drawdown he accepts and how much he wins in all accounts he has together. so not so easy to do comparing with an other trader.

but he is not doing what he is writing in his books to 50%, he cant because of his character. that's not total bad, just reduce the chances and people often think he trades like the words he write (what is not) .
some ideas are by math wrong, but that's an other story.

but when you want to speak about this in detail we would need to private chat, because that's a lot and maybe wrong thread.
  • #36,372
  • May 12, 2024 6:58pm May 12, 2024 6:58pm
Quoting sampat
{quote} I think it is easier to have small account and copy to larger accounts. For example if I have 1000$ account and make 30$ (copy 10x over larger account. Mentally it is easier to reach target 30$ and stop at 30$) and user tradecopier on larger account
I think for trading you have to get used to it
Try to train you mind
Because is part of the game
  • #36,373
  • May 12, 2024 9:18pm May 12, 2024 9:18pm
Quoting stirmatt
{quote} Hi Navk, No one makes profit every day in trading in real life. Let's stop this fanciful imagination and face real life. If anyone claim it's doable, let him or her show his or her trading history of past 6 months. I have positive mind but I do not like seeing posts that give new traders fake hope that will make them to doubt their abilities when they failed to achieve such imaginary result. I have been trading since 2008 and I have more losing days than winning days. I turned 1k to 6k in 2008 with a broker called Fleet forex in the USA...
great news,

You are with FTMO.
Intraday only.
  • #36,374
  • Edited 9:34pm May 12, 2024 9:23pm | Edited 9:34pm
Quoting stirmatt
{quote} Hi Navk, No one makes profit every day in trading in real life. Let's stop this fanciful imagination and face real life. If anyone claim it's doable, let him or her show his or her trading history of past 6 months. I have positive mind but I do not like seeing posts that give new traders fake hope that will make them to doubt their abilities when they failed to achieve such imaginary result. I have been trading since 2008 and I have more losing days than winning days. I turned 1k to 6k in 2008 with a broker called Fleet forex in the USA...
And let me tell you something.

The price moves when market opens.

Price stops at resistance or support. And reverses.

In every time frame, it does.

If we can not catch 10 to 15 pips cleanly, none of us are worth trading it.

The lot size i mentioned, profit target ( 300 $ i mentioned ) are for indicating how to approach trading on daily basis, and how to be consistent.

The point, i wanted to make as well as the discussion i had with my friend is, one should be able to catch 10 to 15 pips daily ( cleanly ) and quit trading for that day, so thay one can be consistent, and diciplined.
Intraday only.
  • #36,375
  • May 12, 2024 9:25pm May 12, 2024 9:25pm
Quoting Trader191
{quote} only until you get there, and then you want increase to 2 and then 3 and so on because its not so difficult to do any more. of course in daytrading you need to add more strategies because you cant add more volume in your trades at one point (until you reach some million per trade/ or 20-100 lot if calculate in lots). and this more time you dont want do in any year.
I repeat, 1 million os enough for me.

I will not go for 2nd or third million.

Lol.

I am circastic in my reply. Please note.
Intraday only.
  • #36,376
  • May 12, 2024 9:28pm May 12, 2024 9:28pm
Quoting sampat
{quote} Playing devils advocate one can make profits more than 300$. I think there should be target lower target and upper target limit and most important daily loss limit. Also we are not hedge fund one needs to take risk to make money. Once account gets bigger percentage makes more sense before that dollar value is more important. For example making 5$ on 100$ account is easy as an 10-15$ dollar loss doesn't rattle my psychology. But loosing 5K-15K on 100K real account will change everything.
my question is...if the target is set like this, how one is going to pass challenge ?

Do you advise different approach for challenge passing ?
Intraday only.
  • #36,377
  • May 12, 2024 9:33pm May 12, 2024 9:33pm
If one can not catch 10 to 15 pips cleanly in a day, I would say, he can not be a trader.

I agree that, capturing 60 to 100 to 150 pips may be difficult.

If one can capture 10 to 15 pips cleanly, the rest, is only lot size, and dicipline.

One must have balls to take lot size. It is something related to mental strenth.
Intraday only.
  • #36,378
  • May 12, 2024 9:41pm May 12, 2024 9:41pm
Quoting CableJ
{quote} it used to be <8K.... these days it's anyone's guess
I have posted and given a good suggestion elsewhere and this thread too.

If one do not want to be in radar, make 4k or less every payout, make for three months.

Deposit this money ( 10 k ) with mt4/5 broker and start trading your own fund.

The basic thing, why people stick onto prop firm is two things.

1. Lack of personal fundes.

2. Learning to trade with proper risk management.

This is inspite of the fact that, no mt4/mt5 for traders, no big payouts from prop firm, no payout fear, payout getting rejected, lots of terms and conditions....etc..etc
Intraday only.
  • #36,379
  • May 12, 2024 9:42pm May 12, 2024 9:42pm
Quoting navk
{quote} my question is...if the target is set like this, how one is going to pass challenge ? Do you advise different approach for challenge passing ?
Challenge passing is different Usually 1,2,3,5% but these days I don't trust and waste time on forex brokers as I am sick of getting scammed again and again.
I was talking more about personal accounts as with prop firm even 200K account has more or less not phycological impact once first payout or refund received it is al houses money.
  • #36,380
  • May 12, 2024 9:48pm May 12, 2024 9:48pm
Quoting navk
If one can not catch 10 to 15 pips cleanly in a day, I would say, he can not be a trader. I agree that, capturing 60 to 100 to 150 pips may be difficult. If one can capture 10 to 15 pips cleanly, the rest, is only lot size, and dicipline. One must have balls to take lot size. It is something related to mental strenth.
Again 10-15 pips is easy for almost all members in the forum can earn that. Earning money is easy in trading than retaining. For example one can easily makes 300$ for 5 days it will just take 1 day to wipe out every thing. So even if trader has NO skill MONEY MANAGEMENT will make money in long term provided trader has enough capital to throw dart. It is important to know when to stop in loss. If one stays long enough they will earn money.
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