infofirst:
🤔
If you are to trade a $10k prop challenge and can only trade 0.01lot (10cents per tick) one position max at a time. And can only trade gold, Dax, dow, ndx, oil. How long will it take you to hit 8%?
Is it a waste of time or something that is truly the way to go?

infofirst:


Thanks for the response. The thought came in an attempt to see how best to crack the risk mgt shit. Folks are losing big time and they kept promising not to repeat it only to do same again. How many I am starting this account today and I will be back to give acct have we seen here. How many I have learnt my lessons and I will not repeat it again?
This is May 2024. Someone that started $10k since January and making 1% monthly will be at 4-5% now and before you know it, he has passed and get funded. And the gambling man is still struggling, his mental health messed up....

infofirst:


Thanks for the response. The thought came in an attempt to see how best to crack the risk mgt shit. Folks are losing big time and they kept promising not to repeat it only to do same again. How many I am starting this account today and I will be back to give acct have we seen here. How many I have learnt my lessons and I will not repeat it again?
This is May 2024. Someone that started $10k since January and making 1% monthly will be at 4-5% now and before you know it, he has passed and get funded. And the gambling man is still struggling, his mental health messed up....

seeteazain:


What is always say here. Same stories

Luada:


I hope you are aware that some prop firm have time limit, and also they will scan your trades to see how you performed.

Best risk 1% per trade which is the best and if you are down 1% dont trade. If you have traded a live account and seen profitability with a system you have developed you are good to go.

Even though you risk 1 cent per year without an edge you wont be profitable.

infofirst:

Thanks for the response. The thought came in an attempt to see how best to crack the risk mgt shit. Folks are losing big time and they kept promising not to repeat it only to do same again. How many I am starting this account today and I will be back to give acct have we seen here. How many I have learnt my lessons and I will not repeat it again?
This is May 2024. Someone that started $10k since January and making 1% monthly will be at 4-5% now and before you know it, he has passed and get funded. And the gambling man is still struggling, his mental health messed up....

GabsonFX2:
A profitable trader targeting 1% per month would still experience some bad months, say 4 out of 12months: in the long run, it is still a win, a profitable one but it means 4 months win will break even 4months loss, we are left with 4 profitable months = 4%, if similar thing happens in the following year, that's 2 years ish just to pass phase 1 and then phase 2 is waiting.

If similar stuff happens is phase 2, that's another 1year ish, so a total of 3years ish is expected to win for someone looking for 1% using 0.01 lot to get 1000 pips every month.

This I will say is more tensed on psychology when it takes forever just to be funded. Does that mean that trader would not have spent far more than what is expected on data, feeding, contingencies like broken charger, laptop or phone, petrol on gen, or inverter installation and maintenance. How would this person be able to focus with all these challenges?

I could advise between 0.05 - 0.1 max lot per trade on the $10K, with that, you don't need 8000 pips to pass phase 1 only.

Above all, if I see a company that can believe in my skills and obtain a $5M prop account, then I can do the 1% monthly and trade it for 2 to 3years cos with that I know the worth of what I'm dieing for, other than that: it's a waste of time for me.

infofirst:

It makes sense. Yes, it's easier to target less when the capital is huge.

And all these you have stated is at a high level that you are. Let's bring it down to the level of a struggling trader. That $100 a month will change his or her life for real. Not you and I that our monthly mortgage or rent is nothing less than $2000......

infofirst:


It makes sense. Yes, it's easier to target less when the capital is huge.

And all these you have stated is at a high level that you are. Let's bring it down to the level of a struggling trader. That $100 a month will change his or her life for real. Not you and I that our monthly mortgage or rent is nothing less than $2000......

-240pips loading, no panicking.

I will wait for today to close bulish and I will enter long.

GabsonFX2:
about -90 pips running, even if today and tomorrow close bullish, I'm not exiting yet. That Friday's bearish candle is there for a reason.

infofirst:


Atleast your psychology will keep you going till you have an edge. Risk mgt is an edge itself.

XAUTrader4L2:
I hate to seem like a broken clock but most likely gold top is in, though would need to see how the next two days will go.

Cashhy11:
Good Sunday morning. Profitable week ahead. Going offline for some time.

Succhris:
Buy silver 30.44 sl 30.01 tp 32.45

obajoey:


It eventually didn't get to 198.800.

I had to jumped in @199.00

Hopefully, the next bus stop will be @210.00 if prince of Persia no stop am for road.

GBPJPY

Luada:


Psychology is the last thing after you have developed an edge. As i said before even though you risk 1 cent in a year you wont't still be a profitable trader.

And also to correct something risk management isn't an edge itself it just a fraction of your edge so don't be mistaken.

And back to psychology, you can't develop psychology without an edge, cause even with good risk management and psychology you claim to have developed you won't be profitable and will have a draw down in a long run.

For instance you have a live account worth $10000 and you use good risk management like 0.01 per day, i can tell you that account will be around $9000 something cause your looses will be more than your wins.

obajoey:


Trend, demand and supply zone from the higher time frame are your friends.

This move started from May 2nd.

Based on the monthly supply zone, it should still do 210.00

First time getting this far.

#GBPJPY

Bolded makes it.

Edd1e:

I love these... It's just plan truth to me. Edge = Strategy + Risk management. You can't be profitable without having a profound strategy; an approach to the market. Risk management keeps you going when having some bad runs, the trust in your approach will get you out.

Without an edge in your strategy, you can keep risking low to getting Margin-called.

infofirst:
🤔
If you are to trade a $10k prop challenge and can only trade 0.01lot (10cents per tick) one position max at a time. And can only trade gold, Dax, dow, ndx, oil. How long will it take you to hit 8%?
Is it a waste of time or something that is truly the way to go?

BinaryRocks:

I should be able to hit 8% between 3 to 4 months.
I'm ready for personal evaluation Boss.

BinaryRocks:

I should be able to hit 8% between 3 to 4 months.
I'm ready for personal evaluation Boss.

Edd1e:



Omo, if you are not using a swap free account with this Nice run, Eh.
Nice to see a fellow Yen lover... Good trade bro. Happy Pipping.

GabsonFX2:
1 trade at a time
Maximum of 0.01 lot

You need 8,000 pips ish to pass phase 1.
5,000 pips ish to pass phase 2.

To pass phase 1 in 4 months, you need 2,000 pips ish per month. If you can show us your trading history/explorer where you made 2,000 pips per month for 4months, I will fund your personal account with $1K and we can share the profits 50-50.

BinaryRocks:

Good Boss.
Currently I don't have trading history/explorer to show but I am ready for the challenge Boss.

You can open a demo account of $10k and let me make 8% in 4months using max lot size of 0.01.
I am ready.

Or
Let me make 2000 pips in a month.
That 4months far.

MaximiSilva:
I stumbled upon your post about Forex trade alerts and couldn't resist chiming in. I used to be skeptical about trading until I landed a gig with a prop trading firm. It was eye-opening! They taught me the ropes and provided insightful alerts, much like what you're discussing. I remember one time, I received an alert while grabbing coffee with a friend. Long story short, that alert turned into a profitable trade, and my friend was so intrigued, they joined me in trading.

DCroc:
How can u trade to the point of losing more than 10% of your capital in a day