successsam121:


Sir, you are doing well. Keep pressing on.
I think that's one of the objectives (if not the main) the prop firms are looking for in prospective funded traders: CONSISTENCY. Even if it's 2% profit monthly target.

This is simple, follow the steps:
1. Open your charts showing the period you won, do as if you were to take those trades again, look at the ones you traded and those you avoided. Check If you followed your rules of entry and exit for those trades in that period....rejoice
But if those trades never tallied with your standard entry and exit, bro, forget about trading for prop firm.

2. Now open your charts for the 2nd month you lost, check if you did follow your rules and still lost...If yes, rejoice BUT try few more trials with them adjusting your lot size this time.
If you never followed your rules, and you lost the account, rejoice again, cos you have not tested yourself yet...try more trials with them BUT this time to test your rules.

Sincerely, I never for once did any prop trial before jumping into it. When intending prop traders ask me about the content of the trial - I just don't know. This means you can actually figure out if you can win it or not if you have already defined yourself in the 3 critical areas: 1. Working trading strategy/style 2. Solid Risk/money management 3. Clean psychology.

When those 3 elements are not yet in place, get them solid first even before doing the trial......Huh, you yourself will know if you have them settled already...

cdec01:

Boss Thank you, for this......
So I have been training myself to trade to fit the risk management of prop firms..
I met target last month but have not been able to meet Target this month..
I feel bad, but your write-up is encouraging...

boom99:



I be wan ask same question.i fit decid to enter cotonue

GabsonFX:
This is simple, follow the steps:
1. Open your charts showing the period you won, do as if you were to take those trades again, look at the ones you traded and those you avoided. Check If you followed your rules of entry and exit for those trades in that period....rejoice
But if those trades never tallied with your standard entry and exit, bro, forget about trading for prop firm.

2. Now open your charts for the 2nd month you lost, check if you did follow your rules and still lost...If yes, rejoice BUT try few more trials with them adjusting your lot size this time.
If you never followed your rules, and you lost the account, rejoice again, cos you have not tested yourself yet...try more trials with them BUT this time to test your rules.

Sincerely, I never for once did any prop trial before jumping into it. When intending prop traders ask me about the content of the trial - I just don't know. This means you can actually figure out if you can win it or not if you have already defined yourself in the 3 critical areas: 1. Working trading strategy/style 2. Solid Risk/money management 3. Clean psychology.

When those 3 elements are not yet in place, get them solid first even before doing the trial......Huh, you yourself will know if you have them settled already...

GabsonFX:
What I'm about to write is what I have wished to discuss with this precious house a long time, something kept on telling me: it's not time, but ehhh your write up made me to write it finally.

I will go a step further from the angle you are looking at it: they trade that way, and get those results because no one can hold them for it, if they blow the account. They will never trade live cos now they have something to protect or they go crazy. Do you think they will trade live like that? Mba. Because the account is huge, $10K and it's not theirs, they throw risk/money management out through the window but when it's time to go live with their own money, they go $50, $100; do you think they will do same?

Now, let's come to reality: I trade with prop firms, I'm established with them. Look at FTMO youtube testimonial videos, you will see many making $30K profit, wow! $66K profit, wow! but please do a good research on this: You will NOT find, or hardly find one person with 2 testimonial videos making almost same huge profit, you will hardly find a comeback video with same huge amount.....WHY? Is it not to buy and sell? I can buy this month and win but buy next month and lost.

How can you make $30K profit in $100,000 account in one month and want to repeat the same without throwing risk/money management out of the window. I'm super sure they got caught up by the maximum daily loss, that is the killer, then they lost the prop account. now, because you want an interview from FTMO and it's not your hard earned money, it's prop. When I listen to their interviews of someone making that huge profit $$66000, and they are asked the question: how long have you been trading: you mostly hear 1year ago....I just stop the video immediately.

Cos with my vast experience in this field, I know you will not return with another profit testimonial video. My take is: just neglect those you see doing this, I see it as vague, they don't last. These testimonies like the huge profit you see on hantec or prop firm videos are there to sway you away or distract you....stay focused.

GabsonFX:
Just to expand more on your point: This is my key to fx money management.
Know when to stop trading, know when to withdraw!

It doesn't have to be a particular time interval a must-must, like weekly or monthly.......Again, know when to stop trading, know when to withdraw!

Just to buttress further: You can actually live and survive with fx with at least one withdrawal every month (very possible) but you do that with good-good capital.

Shalom!

GabsonFX:
Just now, I won the $200K challenge with TCF which I started on Friday, just 2days trading.

Will upload when I'm off bed

Elliotwaveforec:
5% daily DD showing me pepper but I dey escape; now using lot sizes of 50K prop firm competition divided by 10 (Gold: 0.02, NU: 0.12 etc)

I now know the power of draw down in money management; just know that you're trading with overall drawdown amount ($500 not the main capital of $5,000} and daily drawdown amount of $250 not $5,000).

If you can avoid prop firms with daily DD, it's better.

boom99:
Please oga them, I want to know if it's compulsory to trade everyday in MFF prop firm and what's the duration for the first stage? Thanks

Theyoungmaster:




Exactly! You've cracked the code.
Personally, I base my risk/money management on the daily DD requirement. I open trades with lot size corresponding to 1% of the daily D. That way, I'll have to lose 100 consecutive trades in a day to breach the daily DD. That's almost impossible. Even if you choose to risk as high as 5% of daily DD per trade, you'll still be safe.

GabsonFX:




Now, let's come to reality: I trade with prop firms, I'm established with them. Look at FTMO youtube testimonial videos, you will see many making $30K profit, wow! $66K profit, wow! but please do a good research on this: You will NOT find, or hardly find one person with 2 testimonial videos making almost same huge profit, you will hardly find a comeback video with same huge amount.....WHY? Is it not to buy and sell? I can buy this month and win but buy next month and lost.

These testimonies like the huge profit you see on hantec or prop firm videos are there to sway you away or distract you....stay focused.

Theyoungmaster:



Nah. You just need 10 trading trades to pass. I think they've reviewed it down to 5.

ncpat:
Good morning guys longest time. Will be sharing my chart and entries as usual.

GabsonFX:
This is simple, follow the steps:
1. Open your charts showing the period you won, do as if you were to take those trades again, look at the ones you traded and those you avoided. Check If you followed your rules of entry and exit for those trades in that period....rejoice
But if those trades never tallied with your standard entry and exit, bro, forget about trading for prop firm.

2. Now open your charts for the 2nd month you lost, check if you did follow your rules and still lost...If yes, rejoice BUT try few more trials with them adjusting your lot size this time.
If you never followed your rules, and you lost the account, rejoice again, cos you have not tested yourself yet...try more trials with them BUT this time to test your rules.

Sincerely, I never for once did any prop trial before jumping into it. When intending prop traders ask me about the content of the trial - I just don't know. This means you can actually figure out if you can win it or not if you have already defined yourself in the 3 critical areas: 1. Working trading strategy/style 2. Solid Risk/money management 3. Clean psychology.

When those 3 elements are not yet in place, get them solid first even before doing the trial......Huh, you yourself will know if you have them settled already...

ncpat:


This morning I will be looking forward to sell USDJPY let's keep watching

yetown:


What is the reason for sell?

KingPipmarshall:
UsdJpy.

I'm riding down to 111...

The markets does it's thing tho...Stops at 115

cdec01:


Please beware of TCF consistency rule...
Don't use less than 25% of your initial lot size .

samfelly:


Pls, what will happen if he uses less?

GabsonFX:
Exactly 2 weeks remaining to conclude the US$50K challenge, Donsheddy needs just 1.5% more to achieve and win this, let's see who gets sponsored....

samfelly:


Pls, what will happen if he uses less?

NaGraceFx:


SUMMARY
FTA-NaGrace
Year 1, Week 14

boom99:



Thanks.Is the duration 30days?