Do you think prop trading is a good idea?

Amadeus.V

Trader
Jul 7, 2023
40
3
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remember that unlike trading, prop trading does not let you to quit when ever u felt its the time to, if you pay to enter a prob, you can not get ur money back, even if you only lose $1 of the prop, you cant cancel the plan, so doesnt it stand against ur risk management?
 

Enivid

Administrator
Staff member
Nov 30, 2008
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www.earnforex.com
remember that unlike trading, prop trading does not let you to quit when ever u felt its the time to, if you pay to enter a prob, you can not get ur money back, even if you only lose $1 of the prop, you cant cancel the plan, so doesnt it stand against ur risk management?
What do you mean "you cant cancel"? And why would you cancel?
Prop trading has its issues, but I don't understand what your issue is.
 

Abdulkhs

Newbie
Sep 11, 2023
1
0
1
29
remember that unlike trading, prop trading does not let you to quit when ever u felt its the time to, if you pay to enter a prob, you can not get ur money back, even if you only lose $1 of the prop, you cant cancel the plan, so doesnt it stand against ur risk management?
Hello sir please I would like to have a little discussion with you
 

Jajaofopobo

Trader
Sep 6, 2021
56
7
24
I have some reservations about proprietary trading firms because they may not be suitable for every trading strategy. Additionally, I perceive proprietary trading firms as offering the appearance of substantial capital, for example, paying $200 to access $3,000 in funds with the condition that I'll lose the account if I experience a total drawdown of 10%. In my view, this essentially means I've been provided an additional $100 (10% of $3,000 is $300) alongside my initial funds for trading in the market. The expectation of making a 10% profit to meet the requirements feels more like a 100% increase (doubling the initial $300).

The only advantage i see here is the leverage...Or what are your thoughts on this perspective?
 
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Enivid

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Nov 30, 2008
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I have some reservations about proprietary trading firms because they may not be suitable for every trading strategy. Additionally, I perceive proprietary trading firms as offering the appearance of substantial capital, for example, paying $200 to access $3,000 in funds with the condition that I'll lose the account if I experience a total drawdown of 10%. In my view, this essentially means I've been provided an additional $100 (10% of $3,000 is $300) alongside my initial funds for trading in the market. The expectation of making a 10% profit to meet the requirements feels more like a 100% increase (doubling the initial $300).

The only advantage i see here is the leverage...Or what are your thoughts on this perspective?
Although I share your general sentiment about prop accounts, but normally prop firms provide something closer to a $20,000 account, not $3,000, for a $200 payment.
 

hayseed

Master Trader
Jul 27, 2010
868
224
109
usa
prop firms are something that appeal to me.... might be wise to research them first...... while i have not had any negative issues, some traders seem to have..... so choose wisely.....

know that you can pass before you start..... don't think you can pass, know you can pass.....

make sure the challenge has no time limit.....

make sure they have a fast reliable payout method in place.....

don't even think about cheating.....

trade reasonable lot sizes..... something you would trade in a real oanda account of same size..... remember, no time limit.....

have some in-depth written down rules...... better still, have them in mq4/5 code in indicator form..... wait for the daily and weekly trends to favor your rules..... then start().....
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please allow me to use myfundedfx in this example...... a 100k challenge runs 500$ and quite often there are discounts.....

focusing only on the 500$ cost, i compared that to my past losses of 500$ or more..... over the years there have been many..... too many..... so even if i did lose the challenge, it would be nothing more than another 500$ loss.....

once/if funded continue with same lot size or smaller..... the chart below is a simulated funded 100k account, meaning it pays..... do the math..... you can clearly see my lot size is around 0.02...... on a 100k account.....

above all..... don't think you can pass, know you can pass..... then pass......h
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audnzd-i-h4-eightcap-global-ltd-real-3.png