Props account Passing Tips

Trading Discussion Prop Firms
22

Of course it is :grinning:

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 :innocent:

23

Yeah this is what I realized just recently. They’re more like funded accounts and not actual prop firms. Maybe we should work on that terminology…

24

If you google scouting firms fx you will get a good sense of the differences - Jack over on gears posted back a couple of years full details.

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25

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.

26

Prop firms that require you to “pay to play a demo account” are scams, ripoffs, hoax…

there are no live traders with these companies.

MyForexFunds is the one that got tripped up… but they are all scams.

2 Likes
27

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.

28

https://web.archive.org/web/20230926103711/http://www.myforexfunds.com/

29

Are any prop firms making the rounds legit? What do the legit prop firms require you to do/pay to get a seat?

30

Was MFF the only one supposed to be legit?

31

Aim for consistent profitability rather than trying to hit home runs. Steady gains are often preferred.

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32

I recommend pass your challenge with HFT easy and safe

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33

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.

1 Like
34

thank you for this, I already got started

35

The golden tip is know the rules and guidelines behind the firm you’re with.

36

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

37

good advice ,but not for all firms