How do you manage impulsive behaviour while trading a propfirm challenge?
Hi @selector,
Impulsive behavior is driven by lack of self discipline. We have to train ourselves to react according to the plan. Detach ourselves from emotion, try to control it. Emotion will let our greediness up. When we win, we will become reckless and bold. When we loss, we will blame anything, anybody we can 
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Since youāve headed it āPropfirm Tradingā Iāve moved your thread to the Prop Firms folder (where it may be seen by more members with prop firm experience and/or interest in the subject).
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My two suggestions would be ā¦
(a) Do exactly what you need to do, to pass it, on your own demo account, two or three times first and donāt pay the prop firm for their demo account assessment until you know your method works, and works for you, and ā¦
(b) Use a method thatās rule-driven and needs as few subjective inputs from the trader as possible, to try to put yourself in a position where your own feelings are less likely to impact on the results
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How do you detach yourself every time emotion kicks in?
Hi @selector,
You need to have trading plan. Never trade without trading plan, thatās all.
Most trader get too emotional because they have no trading plan, cant see market clearly. This is the reason for playing with emotion.
Try to analyze market logically. 
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Is there something about prop firm challenges that raises specific issues of emotional control that are different from those raised in any other kind of trading?
(Iām asking because Iāve never done one and donāt know, not to try to imply that I think itās a weird question! 
)
Itās Hard to understand the question if you havenāt tried one.
Yes, it is. That was why I asked whether thereās something about prop firm challenges that raises specific issues of emotional control that are different from those raised in any other kind of trading.
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I think there is, yes.
Itās a very good question youāre asking. Hold on while I put my psychologistās hat on (itās not necessarily the pink one) and try to reply ā¦
Peopleās internal/psychological reactions to trading, in all its various guises (and in all their guises) vary considerably, whatever the context, but there are some overall realities of the āprop firm situationā as well, Iām sure.
Specifically, all the āhope and fearā issues of trading tend to be very much exaggerated, when people are doing a prop firm evaluation.
Bear in mind that most people who take them are going to fail, most of the time (to put it mildly) and many of them know that, really. This tends to heighten the stress.
They should probably be paying the prop firm only after practicing the exact same thing, with the prop firmās restrictions and rules applying, on their own, on a demo account, so they should already know they can pass it, but that clearly isnāt what people normally do, so theyāre very much trading on hope.
They should know that they have a proven edge thatās both statistically significant to a high degree of confidence while also being prop-firm-rule-compliant but that, also, clearly isnāt what people normally do, so theyāre very much trading on fear, too.
These things make it harder for people to stay calm and make purely rational decisions, and it increases the chances of āpanic actionsā.
There are actually quite a lot of other context-specific psychological factors involved as well, but it seems to me, off the top of my head hat, that those would be the main factors for many evaluation participants.
And by the way, welcome to Babypips, old man.
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!00% - āhope and fearā
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