Asking the TOP 5 Prop Firm Traders How to PASS
ฝัง
- เผยแพร่เมื่อ 16 พ.ค. 2024
- I asked the top 5 prop firm traders how to pass a prop firm challenge, ftmo challenge eg.
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The Traders Social Media:
Kyle (Jadecapfx) -
@JadeCapFX
Twitter: @jadecapfx
Instagram : @jadecapfx
Paladin -
@thelifeofpaladin
Twitter: @thelifeofpaladin
Instagram: @thelifeofpaladin
Andrew NFX -
@nfxtrading
Twitter: @andrewnfx
Instagram: @andrewnfx
Dan Cheung -
@DanCheung
Twitter: @wannabechamp
Instagram: @wannabechamp
Pasquale:
Twitter: @Pasquale_M_J
Instagram: @pasquale_m_j
Trade Copier I used: tradersconnect.com/?ref=kimmel
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I asked the top 5 prop firm traders how to pass a ftmo prop firm challenge, or a the funded trader prop firm challenge, or a true forex funds prop firm challenge, are prop firm challenges a scam?
DISCLAIMER: I am not a financial adviser. The videos on my channel are for educational and entertainment purposes ONLY. I'm simply documenting my trading journey so that you have the potential to take ideas and inspiration from the videos that may help you within your own journey. But remember, trading/investing of any kind involves risk. Your trading/investments are solely your responsibility.
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My takeaways from these traders.
1_ Reducing your risk as jade said.
2 _ Don't copy to approach challenges as other do on social media as paladin said.
3 _ play smart , trade only high probability setup as Andrew said
4 _ your edge, your psychology, your strategy and other thing is having confidence as Dan said.
5 _ do you actually know what is going on , ask yourself as Pasquale said, anything can work in trading , you should have patience.
It's not quick rich scheme, it will take time
Great work Kimmel ❤
Appreciate it man 👍
Not just cut risk half in dd phase, but also burn the recent profits to do more profits when you are in profits phase.
Pasquale said to have Patiance and trade h1 and above.
That's a true master of trading.
Risking half of the initial risk when we are in Drawdown is the biggest tip and takeaway for example first trade 1 % risk if I loss the trade I need to reduce the 0.5 % to until reach initial balance 👌🏻 🏆Takeaway is Risk management and money management wins the trading game 🤩👍 waiting for part 2💎
Just made a screen shot on this comment. 😆😆💯🎯
It's on ict risk management video
@dantervil6103 no its not he specifically said you can't change your size every trade u can't lose with 2 contracts then win w 1 then go back to 2 and hit another loss ur wins dnt out do ur losses this way
How I just now learning this!? Omg 😝💯
I learned five important lessons from top prop traders:
1. Manage risk
2. Don't copy others
3. Focus on high probability setups
4. Be confident in your edge
5. Be patient and disciplined
Profitability is more important than passing challenges, and passing challenges is no guarantee of success. Thanks to Kimmel for sharing these insights!
*I didn't become financially independent until I was in my late 40's, and I'm still in my 40's. In addition to having purchased my second home and earning money on a monthly basis through passive income, I've also achieved three out of five goals. I just hope this inspires someone to realize that it doesn't matter if you don't have any of these things yet, you can start today no matter your age. Change your future by investing! I made a rather big decision by investing in the financial market.*
Investing in many sources of income that are independent on government paychecks is the prudent thing that everyone should be thinking about right now, especially given the global economic crisis. Stocks, forex, and digital currencies are still good investments at this time.
It's really not easy investing or trading the financial market. I read a lot of books, tried to study, watch some tutorial videos, did a little demo before funding my account and I still lost a lot. The financial market could be very tricky
-- Trading under the guidance of an expert is the best strategy for beginners.
Get yourself a professional help
Any reputable recommendation?
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Thanks to Mrs Deborah Davis.
She's a licensed broker here in the states
YES!!! That's exactly her name (Deborah Davis) so many people have recommended highly about her and am just starting with her 😊 from Brisbane Australia🇦🇺
Great video! Key takeaways:
1) Adjust risk based on balance and win/loss (Kyle).
2) Don’t copy others, consider your own goals (Paladin).
3) Be aggressive with challenges, buy multiple accounts (Andrew).
4) Understand losses are part of the process, stay calm (Dan Chong).
5) Know the rules, have patience and discipline, avoid over-leveraging (Pasquali).
Thanks for the insights; eagerly waiting for part 2.❤
My key takeaways:
1. You need to think for yourself according to your situation, copying others won't help
2. Confidence can only be gained through proof of concept
3. It takes years to be great anything so don't rush it, enjoy the journey!!
Nice, insightful video♥️
Waiting for part 2!!
I like Dans tips and his jolly mood is uplifting and encouraging. But every tip was great. Personally, the last guys tips is the one i find most relevant, staying patient, and not passing over 1 or 2 trades bcz if you make it quick, you lose it quick. I'm taking an approach now that might take me upto 1 month to pass, but long term, it works.. it just requires patience.
Great video bro, honestly you should consider making longer video around 20 -25 mins at least, as long as it's like this or your usual stuff. They're easy to watch with no bs. 👍
I’m so grateful that we get this content in this day and age. Thank you Kimmel for being able to set this up for all traders that are out there without a social presence.
This was timely since I failed three evaluation accounts this week trying to push my edge.
They take away that I got here is to take it slow. Have a long-term vision. If I lose my first trade, cut the risk in half each loss.
what paladin says is absolutely resonate with me and know your situation and if you loose it are you okay with it or not if your answer is not then go conservative and from others stay diciplined and backtest and have confidence in your system also look at the long picture
The number of trades you take before blowing your account is important. You want to be able to risk such that you are able to take as many trades as possible before blowing and also having confidence and descipline is key. The most important question people need to answer is "am I profitable " instead of "can I pass a challenge " some pass the challenges ,get funded and lose the accounts so passing is not as important. ❤
risking less when you go into drawdown. going into drawdown is emotional and i used to always double my risk to try to make it back instead of cutting it in half and treating these challenges like a business instead of gambling! awesome interviews
Great video with alot of insightful tips✨️✨️
The tips that got me were to have patience,don't think of passing the prop in a day or two, be Conservative with your prop as you most likely worked alot to get that prop firm account and finally make sure you have proof of concept and unwavering confidence, when in drawdown your confidence level will be tested and that's where your unwavering confidence comes into play
I really hope to see the part 2 of this video 🔥🔥
1. RISK ADJUSTMENT in a series of trade for longivity in the game
2. NEVER COMPARING TO THOSE whom we're looking up to and not to copy them
3. PLAYING SMART multiple accounts with high risk "not for me though"
4.PROOF OF CONCEPT having a working edge, understanding your psychology and also yourself💯
5. Confidence understanding the proofs of concepts works despite the ups and down with proper risk understanding
5.understanding what it takes and what is required, and know and take it as a career slow but sure💯
No short cuts and a plan is a requirement and being displined to follow the trading plan❤
We need part 2 kimmel. Learned a lot from this one.
This video topic hits exactly the obstacle I am facing right now - passing a challenge. Lots of great tips from these successful traders. What was interesting to me is that the strategies they employ to pass are different, as are the risk profiles and strategies they use to pass. Since I have not been successful in passing yet, I am going to try a different system that Jadecap suggested (risk % that scales up or down depending on my trade wins or losses from base). And also reduce the setups I take. Thanks!
My favourite takeaway from this videos was kile"'s opinion
-To risk a normal 1-2% per trade from the initial balance for the first trade
-To lower the risk if you lose this first trade to to keep it the same if you win
Really decent video! Thank you!
My primary lesson learned is the significance of the number of trades executed before depleting your account. It's crucial to manage risk in a way that allows for numerous trades before facing account depletion. Moreover, maintaining confidence and discipline is paramount. Instead of focusing on the ability to pass a challenge, the critical question to address is whether one is consistently profitable. Passing challenges may lead to funding, but sustaining and growing the account over time is the ultimate measure of success.
This guy is giving free nuggets!
They all talked about 2 really important things:
- Do you really know what rules do you must have for your personal trading and to pass those challenges?
- Do you have enough proves to start a challenge or are you just running after the money?
Thank you, great advice from all.
I Loved Dan's , Kyle's , Paladin's Tips❤Thank you for this Kimmel ❤
Thank you for this interesting video! Please make another video, where those traders explain their trading-strategy in detail.
In the pursuit of effective trading practices, it is imperative to adopt a strategic approach to risk management. This involves the deliberate adjustment of risk parameters, specifically doubling the risk when confronted with winning trades to optimize potential gains. Conversely, in the event of losses or during periods of drawdown, a judicious reduction in risk becomes paramount to safeguarding capital.
Furthermore, a nuanced tactic for bolstering confidence in trading endeavors involves the simultaneous management of multiple accounts. This multifaceted approach not only serves as a risk diversification strategy but also acts as a psychological buffer, enhancing resilience and fortitude in the face of market fluctuations. By adeptly juggling varied trading accounts, one can harness the benefits of diversified exposure, thereby contributing substantially to a more robust and confident trading experience.
Andrew NFX's scaled risk approach to passing challenges was interesting and sensible provided a person has the initial capital to throw at several challenges but moderating his approach of 4% approach on an A+ setup down to the 1-2% standard for all trades in phase 1 irrespective of whether it's a near perfect setup is just more mathematically sound. It just increases the number of times you can correct for prior errors if you encounter them. He doesn't outright say it but what Andrew recognizes is the value of time which often gets overlooked. If you spend an eternity on a challenge you're foregoing other opportunities and experiences in life that might be more lucrative or enjoyable. Definitely going to check out more of his work. Thanks for the vid Kimmel.
You guys had huge impact in my improvement , every single person in this video taught me something precious .
Pasquale's advice with regards to patience was a crucial takeaway for me . lf you are patient during the Challenge phase you prepare yourself to be resilient during the Funding phase . Great value from a skillful trader .
Remain confident during Drawdowns, Taking only high probability trades and keeping the emotion in control
Thanks for this beautiful review
Know and trust your strategy and apply good Risk management
I liked the most Kyle's advice on dinemical risk exposure after first trafe
Great Video from you kimmel, one of the best video industry people needed
takeaway :: Risk Managment and Risk Management , play the game slow not try to get passed in ONE DAY ,from pasquale , i liked not only because of RiskMangaement but he also said Everything will Work , really everything will work in trading if we have patience
The advice to have patience and take it slowly. If you’re someone who values patience in trading was one of my favorite takeaways from this video. Great video man, keep it up.
My biggest takeway is to look trade as a carrer. Take it slowly and look it in long term I think is the most valious tip.
Take away: Trading isn’t a one size fits all game.
I think everyone has a different psychology and they are more likely to find their edge in one strategy vs. another. One guy was talking about risking a lot and taking your chances over multiple, and another about conservative risk management. Both are successful but they just found what works for them.
Great video, can you do one on , my forex funders and blue guardians prop firms
really interesting to see the different styles used by different traders here.
Love Pascal’s advice. 👌🏾
Thank for the video great advice keep it up this is our year brothers 💪
My biggest takeaway is Risk Management that most of them emphasized on this that how important it is to stay in the game for long time. Risking 1% or .5% per trade and cutting your risk even further when you had two or more losing trades is a key.
Second would be proof of concept that you have to know your strategy and have confidence in it which comes from backtesting, sample testing.
Lastly confidence is another key factor which you develop over time by practicing and staying away from copying your mentors or anybody.
Thank you Kimmel!
Great work putting this together 👍
Beautiful innovative and very useful idea, thank you so much Kimmel for giving us such a masterpiece!
best takeaway is patience, discipline and management 🙌 thanks Kimmel! I want part 2 ^__^
Awesome vid, Dan's proof of concept and jade's risk reducement is the biggest takeaway for me. Currently working on those two and glad to hear Im on a good path.
The best thing of the video was that they shared the key insight of trading that's risk management
My biggest takeaway is reducing risk when i am in losing streak. Patience and discipline is more important in trading.❤❤
Nice video! Love seeing @wannabechamp speak truths. Great interview.
This video should do +100k views because the 💎 are incredible 💯
Amazing video and good tips from the peers
Appreciate you having me on and best of luck to the people reading this as message if for you take your shi seriously 😈
Dan tips, 🔥🔥🔥 he said many in few minutes... deep stuff, thanks for this video Kimmel, it means alot, I learned that u only lack confidence if u don't have proof of concept
I think that jadecap's advice was the best.
Risk Management is KEY.
best takeaway is when they say to reduce risk as u go further into dd i should try it wt i normally do is reduce my targeted rr
Woah one thing I've seen is that rushing to get funded makes you make more mistakes because you're not risking accordingly
And you should stop comparing yourself to these big traders because they've mastered their edge in the markets instead of trading every day they wait for an A+ setup and beginners come on the markets looking to pass a challenge in a in a day🤷🏽♂️which is pure gambling
Risk management is key, you can get lucky a few times but it'll catch up with you, so it's better to risk less and focus on building consistency and finding your edge you'll be profitable in the long run, remember slow money is better than no money 💯
Thanks a lot Kimmel for this short video but packed with a lot of wisdom ❤
My best take away is on when to dynamic down when In drawdowns and also dynamic up when in profits thanks a lot @Kimmel Trading 🔥🔥
I love Dan's tip on having backtested the strategy before going to props thats my ultimate takeaway
Great Knowledge ! My Key Takeaways
1) Adjust your risk per trade based on your initial Balance.
2) Go with Conservative Risk 0.5%, 1% that doesn't make you Emotional.
3) Diversify Your Risk.
4) You Must have a Solid Data to Prove yourself you have an Edge in the Market By doing Backtesting, Sample Testing.
5) Know the rules, have patience and discipline, avoid over-leveraging, Have a Plan is must.
Patience..
Confident...
And Risk management is the main take away for me
Inlike the idea of managing your risk depending if your first trade is a win or a lose. I will definitely add that to my arsenal
key takeaway is reducking risk as u go futher into dd, i often increase my risk and reduce targeted rr
My favorite takeaway is even if it takes you one, two or six months, do not rush to pass the challenge. Stay disciplined and treat it like a business.
Biggest takeaway - take my time no rushing for my set up and understanding my position and ability to scale
I think the most important piece of advice was given by Dan Cheung. Before even buying a challenge, you need real evidences that you can trade (a proven system with an edge, a solid risk management plan and your psychology needs to be aligned with your system). Also, you need confidence in yourself and in your system, so you'll be able to deal with losing streaks, drawdown periods, and all kind of pressure you will face while trading. Great video, Kimmel.
1.reduce risk to half after a loss. jade
2.dont copy others, do your own thing. paladin
3. focus on high probability A plus set up. andrew
4. understand that losses will come its inventible. learn to handle them. dan chang
5.have patience and discipline, avoid overtrading.pasquali.
I am trying to learn am new to forex . Thank you for the information. Where or what information you would recommend for a new trader to look for to understand and study how to trade.
fav takeaways 1.... your size determined by the circumstance of where ur account is at, if ur up 2-3% sure risk1%, but if u account is down 2% u have to cut the risk risk half percent instead, 2nd.... dont focous on one account, thats gonna put pressure on urself, if u can diversify in multiple account, 3..... have a prooof of concept, and have confidence on that setup, confidenece on ur psychology, confidence on yourself that its gonna workout overtime, 4th.....do u know where ur at, do u know the in & out of ur trade, 5th...... be consistant towars your set parameters stay diciplined in following ur set parameters
Great video. Another good tip, is to be aware about daily losses rules that can breach and suspend an account.
Biggest takeaway for me was that you have to do what works for you. Suggestions ranged from "risk it all" to "risk as little as possible".
However personally i have come to the conclusion in my own trading that high risk works better. Pretty much exactly what andrew suggested. Why? The lowest risk point is actually phase 1 where you have only a fee to lose. When risk is lowest you up your size. Phase 2 is moderate, you have the fee + 8-10% from phase 1 at risk. So you decrease size to match higher risk.
Finally funded is the highest risk because now you can completely lose your ability to get paid and be forced to make 12-15% to get it back. Now you risk smallest amounts.
My favorite takeaway in the above video are;
1. What they all have in common is there is no rush to get funded. One should take their time .
2. Your risk management should align with your strategy. You don't have to risk like 2% on a low probability set up. But when you have am A+ set up you can risk up to 2% or more depending on your risk appetite.
3. Having a realistic goal also help to get funded. Trading without goals is like sailing without compass.
The best is yet to come
takeaways
1 do not copy any one else
2reduce ur risk to sute ur personality
3play the long term game and accept losses. keep up the work kimmel
Reduce Risk by half by losing stages is absolutely Right but also another important thing is Journal every trade and Reduce your Repeated mistakes this will increase quality of trades and find your EDGE. Great lessons from Top Traders, Thanks 🙏 Kimmel bro ❤
Main take ways : 1. Have a proper risk management depending on your situation, also drop risk when in drawdown. 2. Focus on process, not the outcome. Results will follow. 3. Have a stable ok plan / strategy / trading routine to have stable results.
Great video... Please Phase 2!!
Can u make a video on topstep
my fav take away was the risk management and when starting a challenge you risk less
I would like to see video how they are trading AFTER they pass a challange! This one ofcourse excelent video as well! Thanks! Keep up good work bro!
Challanges seems simple recipy: higher your risk when you are up and lower your risk when you are down, is this also same approch AFTER challange in funded account they do?
After passing the challenges and get funded what will they do? The real game is start from after gets funded, nobody mention that what will do’s and don’t after get funded to withdraw first payouts…. Please explain that
My takeaways from the video that I'll be keeping in mind going forward
Jade advise on lowering and adjusting the risk exposure
Paladin warning of not trying to imitate others method by getting influenced on social media
Andrew suggestion to trade only A+ setups when the odds are in ones favor
Dan's suggestion on building confidence, along with edge and strategy
Pasquale's important suggestion to work with patience and thinking in long term
Lastly thanks to you for making such an interesting video I have shared your video in my circle so it could reach larger audience so that we can reach 4K likes for part 2 ❤
Have you seen True forex funds statement from the CEO? I wonder what you think of it and the future for their company.
Adapt risk acording to account balance; focus on high probability setups (trade quality not quantity);
Be disciplined follow you strategy and trust your edge
1. reasonable money management (ie 1-2% risk)
2. do not rush the process
3. don't look up to others (there is a proverb that losers look up to winners, and winners look up to victory)
Fist Thank you bro for helping the community 🙏🏼🙏🏼
The best take away is the RISK MANAGEMENT is from JCAP
So at the start you risk at least 1% if it's a winner you risk more on the next trade if not risk less so you wanna be flexible and try to stay alive in the challenge
for sure, Risking half of the initial risk when we are in Drawdown is the biggest tip and takeaway
Comon bruhh…. Part 2…. WE BADLY NEED IT…. Lessgoooo!!!!🙌🏼🙌🏼🙌🏼 11:54
My greatest take away was the proof of concept and from your initial balance, you decide what your risk will be.
They both acknowledge the increased difficulty of trading due to algorithms and high-speed trading, but also note the benefits of tools and information. While one trader criticizes high-frequency trading conditions as unethical and wasteful, the other questions their legitimacy in real trading. Both agree that new traders should avoid high leverage and focus on learning and surviving in the trading world.
My take away are
1. Know yourself 💯
2. Have a good trading plan
3. Reduce risk when on drawdown
4. Have patience and know trading is not a get quick rich scheme 💯👍❤️
Much love and support from Nigeria 🇳🇬🇳🇬❤❤
every single trader's in this video taught me something but Dan cheung really said it all 🔥🔥
thanks for the amazing content Kimmel
I think Dan gives the best advice about having proof of concept
Finding people who are making progress or even profits using similar strategy definitely helps
With confidence, we can manage our risk more at ease because we truly know our edge
My fav take away was what Paladin said, that we should know our level, and risk according to what we can lose. Some are aggressive risk and some are conservative risk
Part 2!!
My biggest takeaway is on being patient it does not matter how long i take the challenge the goal is being funded not how fast i get there.
Risk 0.5%, target 1:3RR, take 1 or 2 trades a day, start it this coming week do this for 1 month i bet you you'll see change insha Allah 💯
My favorite takeaway from this video is by Dan Chong, aka mentor and great friend of Kimmel, where he emphasizes the importance of having:
1. Proof of concept through back testing, sample testing, and psychology
2. Confidence and unwavering mindset in the process
3. Discipline and dynamic risk management
Taking high probability set-ups, knowing your strategy well through back testing and most importantly 1-2% per day not per trade, increasing the same after profit.
My fav takeaway was when kyle said the deeper u go in Drawdawn 💀 The easier it is to Smooth out your Equity curve 📈 by Reducing 💰 Risk.
My favorite takeaway is definitely treating trading like a business, patience is key and we have to manage our risks at all times
Key takeaways
1) Dynamic risk management is the key when u are in from a long time
2) Conservative risk when u are a beginner
3) maintain maximum risk that is okay with mind set until it is not giving u FOMO
😄This are my key take aways kimmel
And waiting for the part 2
Thank you
My takeaways
1. Know your A plus set-ups
2. Know how to scale the risk to conserve capital during drawdown
3. Each phase of your funding journey you can go more conservative or aggressive with risk to get more funds
4. Take your time !!! Use one than snowball that up
My take aways:
1- patience is key
2- Buy multiple accounts, don't spend your life savings on 1 challenge
3- risk % per trade is based on high probability setups
Key Points
💰 Money management is crucial inside and outside of prop firms.
🎯 Understanding the strategy's edge and having a profitable strategy is crucial, as luck can only take you so far in trading.
💪 Confidence in trading comes from understanding that losses and drawdowns are part of the process, and sticking to the proven concept is crucial for success.
📈 The key to passing prop firm challenges is knowing the rules, trading style, and what it takes to succeed.
⏳ Most Traders have no patience. They want to pass a challenge in a day or two which is possible, but it's not the right way to do it!
My key takeaway from this video is from Dan and paskwali where they mentioned about having an edge in the markets as the baseline that everything should follow knowing that this is not a get rich quick scheme patience is a virtue 🙏... Thank s for bringing all the top prop firm traders
Thankyou Kimmel! 🔥👊😎🔥 God Bless!🙏🏻
One thing that all of these prop traders have in common is managing risk according to their initial balance. They've their own strategy, not copying others approach but their unique way. One is risking 0.25% and other one 4%. They don't use same risk but different risk management in different stages. 11:39
one subject never discussed is the lifetime total drawdown maximum...this percentage is accumulating and is never reset. This will kill the funded account and cause it to expire sooner or later since it never resets.