This is all for newbies, my quality of life is better than yours which is why I can absorb your condescension like a gentle summer breeze, but here’s a little education for you, hope is very different from hard work and consistency. We knew many years ago the prop firms were there for the monthly fees not to breed success, only now is the world catching up to this fact.
“The only thing necessary for the triumph of evil is for good men [people] to do nothing.”
One day you may also catch up to this fact, but I doubt it
Aye - that’s the source of profit - perfectly legal and is good for teaching discipline.
They are not actually “prop” firms in the true sense - they are “Scouting firms”.
Traditional props are firms who solely aligned to the best interests of their traders - their profits are derived from their employees trading.
They only enlist the top graduates - pay a salary whilst training typically for 6 months, then continue with a base salary + bonuses
Retail traders have no access to These Prop firms.
Another type of prop firm is where the aspiring trader pays a deposit to the firm, gains access to all the tools incl a desk but uses the deposit in the early days.
Which part was condescending? It was genuine concern. Surely, you can tell the difference. That is, unless your quality of life isn’t as high as you say, and you have a sensitive ego. THIS is a theory. Those with sensitive egos defend it more ferociously. THIS is an observation.
Of course it is. But hope can help endure years of hard work without positive results. If you don’t like the word hope, you can substitute it with something else. Hope, your dreams, inspiration, motivation, determination, etc.
THIS is condescending.
Regardless, I wish you the best in your financial endeavors. THIS is genuine.
Back to reality, the original comment was from July 1st, the markets and life go in cycles, when people such as prop firms, forum market makers, unsuccessful traders, hit a negative cycle (which is starting as we speak in mid September 2023) they will then go back in hindsight and look at anything which is against their narrative.
Unfortunately if you try to trade hindsight the markets and life for that matter will not treat you with much kindness. Now, if these types of comments were made back in July there would be a conversation, but that’s not how it works because I made sure these details were posted many weeks and months before the negative cycle started.
From that there is no more to be said, everyone can decide for themselves which part of the cycle is correct from a knowledge base
You can create as many accounts as possible and do some offsetting trades to double your account then proceed slowly with smaller risk to achieve the profit result. At least this is how I use it in Hotforex demo contests.
Oh I thought at least one or a few of them were legit! I can’t remember which company it was that even went on to say they’re not a prop firm but rather a funded account… Not sure if that makes it better.
When aiming to pass a proprietary trading firm’s (prop) account evaluation, focus on consistency and risk management. Trade according to the firm’s guidelines, emphasizing steady profits over aggressive gains. Prioritize minimizing drawdowns and adhering to the firm’s risk parameters to demonstrate discipline and reliability, increasing the likelihood of passing the evaluation and securing a funded trading account.
I was shocked to see a firm say you can’t use same strategy on multiple pairs. I was like wtf are these really what we call prop firms?
To shock you more, when i tried raising this issue up on X(Twitter) Space with over +1000 traders attendees, they made a joke outta me; more reason i couldnt fully trust these divers community of traders.
The trading galaxy is turning something else and if one is not careful, theyll make a mess outta someone
