100k Funded Account Doesn't Make You A 6 Figure Trader. Psychology Of Trading Prop Firms.
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- เผยแพร่เมื่อ 29 มิ.ย. 2024
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DISCLAIMER:
This is my opinion and experience. I am not a registered financial adviser. Everything provided in this video is purely for educational purposes. Do not invest money you cannot afford to lose.
#forex #ftmo #myforexfunds #propfirms #forextrading #technicalanalysis #forecast #eurusd #eurjpy #audusd #audjpy #gbpusd #nzdjp - บันเทิง
It doesn't matter if you have a 100k under your name or the props, at the end of the day psychology and money management applies in a every situation. People have failed to understand the role of a prop: is just your buisness partner!
Exactly!
Well done for being so honest Marko. This is what beginner traders really need to hear!
This is a critical phase we must go through before becoming full-time.
Thank you very much for the feedback Alessio :)
Thanks for the update , Marko!!!
No problem :)
Great video! A lot of valuable points made! Prop firms in the end are just a tool to accelerate your growth, use them as best as you can and whatever happens happens!
Yup, the live account is the main focus and being consistent on that account :)
I’ve been practicing for six months. Trying to reach the profit on demo alongside the restricted events in mind and I’m pretty much 50/50. It’s quite difficult and I still don’t have a strict trading plan in mind since sometimes different timeframes hold up well for me. However I learned to prioritize the 15 minute and 1 hour when it comes to supply/demand as sometimes those lower time frame zones is like going up against a tsunami when you’re going counter trend or assuming that 5 minute demand/supply will hold.
Great! Make sure you are sticking to your plan and that you backtested your strategy thoroughly! 😃
6 figure is your buying power, not your trading balance. It is a gray area between "prop firms only give you 10k account" vs "traders can trade upto 100k capital". Take an example to understand. Trader-1 trading 10k personal account with entire 10k drawdown. Trader-2 trading 100k prop account with 10k drawdown. Both loses 8% of their account. Trader-1 now has 2k in balance and 2k max drawdown. Trader-2 now has 92k in balance and 2k in drawdown. Now trader-1 can only open a position with 2k margin (with 100:1 leverage, that means a max position of 200k). But trader-2 can still use 92k as margin and still open a larger position (with 100:1 leverage, that means 9.2mil max position). So prop firms allows you 100k in margin but you still need to manage risk as per a 10k personal account.
That is correct Im just saying most people think they are trading the full 100k when they are not. Its an illusion to a degree.
Well this is true or might be true but remember risking 1k per trade with the mindset that you are risking 1 percent on a 100k account won’t end well when the losing streak comes in….this is because technically you are just trading a 10k balance…. After getting funded because of greed most traders will still stick to the same risk which personally I would advise that they view the account as it is and at the very least risk 3 percent of the 10k max drawdown of a 100k account
@@churchillibiam546 Wasn't referring that a trader should risk 1%. That all depends on their own strategy and risk management. The point was, you can use the 100k as your margin to scale up winning positions if you use prop. On personal account your margin is limited. So you cannot scale winning positions. Scale the winners, cut the losers. Other than that, it all depends on how a trader manages risk. But yes there is a difference between personal 10k and 100k prop, which is margin. That is all i was implying.
@@churchillibiam546 I agree!
You also have brokers that offer 500:1 leverage so no need a prop firm to trade 100k with 2k.
Great video! Love it
Thank you very much :)
Thanks to this i wil not stop.
No problem! 😃
great video!
Thank you :)
you nailed it bro.....
Thank you very much :)
Good video Marko. will you be doing a quick recap today?
Hello Robbi, I probably won't do one today as I am travelling but I did take the EU bomb last night. I took no other trades if that helps :) Will discuss everything on Wednesday!
@@markostradingjourney safe travels buddy, yeah i saw that flag but decided to stay out
@@robbi3966 great that you stuck to your plan!
Here is a trick: once you get funded,
- trade you first month with only 25% of your usual risk and aim for whatever profit to get your fee back (even if it is just 1 usd)
- 2nd month trade 50% of normal risk,
- 3rd, 75% of normal risk,
Then trade at normal risk since the confidence is now well instilled in your mindset.
Most do the opposite: they see the funding of that chance to make a LOT of money quickly! (and start f-ing up their trades)
I fully agree with you, 90% fail at the early stage but this is good advice for them after passing phase 2
@@user-dt8ky2sn3k True. Then again - and we will probably never know the real stats - out of the 90% who fail the challenges I believe at least 80% of them don´t even have a solid trading plan, massive backtesting/demo trade journal, the perception of trading being a tough business, and are just ¨giving it a go¨. .....Getting through the challenges and KEEPING your account needs massive skills, screen time, self-analysis, data gathering and discipline. I screwed up more than I care to remember but things finally clicked after dedicating 3000 (!!) hours on trading throughout various years. In that sense I think this new online prop firm world is amazingly fair: the ones who DO the work, FAIL many times but keep going, SEE it as a business and FEEL it in their bones that they want to succeed - WILL! The vast majority of wannabees throwing mud at a wall - providing prop firms to exist - by NOT being professional, allow the ones who ARE.....life changing opportunities.
Patience is key! Taking it slow is the best approach, but greed gets in the way!
Thanks
That why I don't do flatfirm...
100% FACTS
Thank you 😃
So Have you been funded after this first blow up funded account or Are u funded now? Thank you for video 🙏
I am trading my live account, I want to keep my funding plans private for now to not have extra pressure :)
I can relate with u
Its all a part of trading :)
What happens if you lose money? Do you have to pay it back or how does it work?
They cover the losses! But they make most of their money from people failing the funded challenge (97% of traders never reach their first payout because they break one of the rules)
What do you think of clarity funded accounts
Never heard of them but I would stick to the big guys when it comes to prop firms!
You don't trade 100k, you trade 5k, your max DD...
What about a 1 million dollar account 🤔 wouldn't that make someone a six figure trader?
True!
the5ers has 1 phase challenge and 100% scale up. payment share from the 1st phase as well
can you make a day in the life of a trader, thanks!
I already have one on my channel :)
@@markostradingjourney THANKS !!!
@@upliftuniverse1616 No problem!
Znaci na 100k acc rizikujemo 1% od 10k jel tako ?
Ja preporucam riskirat 0.5% ili 0.25% od 100k da se ipak mogu zaradit neki novci ali mozes i jako mali rizik ako hoces :)
👍
:)
Are you funded now?
I am focusing on my live account and working on funding, but I am currently not funded :)
Then give me your account
Sure!
😂🤞
100k is 100k hahah. jk.Great video!
Thank you :)
Gm I send you a email didn't get a reply
I sent the reply now :)