Anybody have a real money $10k+ prop firm account closed?

[SovoS]

@samewise

the more I research, the more I’m coming across more and more rules I need to follow.

• no trading news events
• trade closes can’t be manual
• minimum trading days per month
• specific risk per trade amount
• consistency rule
• overtrading rules
• static vs trailing drawdown

It’s a lot to think about. I guess once you’re in and trading, all that might get easier to manage.

Although there are numerous rules to comply with, most prop firms only have some of these and not all of them. It really is a case of deciding which are irrelevant and which are likely to be restrictive, depending on your trading style - and then finding a firm whose rules match your style.

For example, minimum trading days is hardly a problem for day-traders!

I think the most likely problematic rule concerns news trading. I paid an additional add-on fee on my account in order to omit this ruling. I don’t trade news as such but it is an irritation when holding a position to always have to check whether there is a news event ahead and have to close out beforehand.

I am not sure what this rule is:

@samewise

trade closes can’t be manual

But, in general, a lot of the rules do, in fact, guide the trader into a more consistent and professional style of trading, and that isn’t such a bad thing?