How to NOT BLOW a FUNDED ACCOUNT
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- เผยแพร่เมื่อ 20 ม.ค. 2023
- A look into how to reduce the probability of blowing or losing a funded account.
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Never had one but ict teaches that should risk a quarter of 1% if ur new or half of 1% if u have some experience. If u lose a trade then cut ur risk by half , if u lose again cut that half into half % so that if u encounter a draw down u would have lost less that a person in it losing 1% per trade in a row
I like this level of honesty and transparency, thanks again on the content that you’re putting out. It’s a breathe of fresh air
Thank you💪🏿💪🏿
Thanks for being honest and transparent. I am currently on DD @10 days. Your content relieve me in someways.
My approach to funded accounts is to have varying risks through the use of a copy trader. Start with 100k account and slowly keep adding 100k each time you pass another account. MFF allows 600k total. So I would accumulate 300k risking 0.25%, another 200k account risking 0.5% and a 100k account risking 1%. Knowing I may lose the 100k account every now and the but will be able to gain it back in time. This helps to stay funded while also maximising profits.
Love that!! 💪🏿💪🏿
Hi
What do you use for your copy trader?
@@johnnieswain1554 social trader
Great advice man, definitely using these especially the 0.5% recommendation. Just got funded again this week and working on passing another challenge so I'm not trading on the funded. Now when I pass the next challenge, there is a redundancy or "fall back" account and less pressure to be perfect on the 1st funded account as well so I make it to the first payout. Plus, trading the challenge account gives me the satisfaction of taking bigger trades that challenges cause you to have by risking 2% on what's technically a "demo" account, while trading 0.01 lots on the funded account to keep the minimum trading days for MFF and gets me in the habit of "cooling off" and risking less simultaneously.
100%!! It definitely reduces the pressure to do one thing at a time.
Bro did you chose Rapid account NCA MFF
@@uttamoraon4963 No an evaluation
amazing info. I think you have to risk more when making the challenge but have money to pay for retakes then once funded you go low risk to keep the funded and have money in the end of the month
Yeah, that’s possibly the case, and that’s how I approach it
thanks for this, currently funded and in drawdown, this video appeared at the right time
Let's go 🙌🙌
one of the best video on the prop firm, thanks!
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Very informative, thanks
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Hi Kimmel, thanks for making things simple to masses, we all love to see ur videos often. my question related to this video is....i am planning to take a prop firm challenge but i have one doubt which is the 30 calendar days in which we have to achieve the target...so this 30 calendar days also include week ends ( saturday nd sunday ) if yes then we have just 22 working days in which i have to clear the challenge if i trade crypto or indices.. or is it 30 working days excluding weekends. please clarify
Yes, it includes weekends, whihc means that you in fact only have 22 days to trade
I have a question, when talking about the amount of risk you take. If you have a trade set up but the stop loss placement is 1% - do you not take the trade at all? or do you just limit the stop loss at .5%? Thanks for your videos. I have been having so much trouble staying consistent lately.
I use my normal stop loss. But the lot size will be limited to the amount that will make me risk 0.5% if it gets hit
I have a question: You said you stack prop firm accounts, but how do you trade them all? do you rotate between the accounts or use a personal copy trader?
To me what you said was way more valuable than any of those other traders. Having other income in this game is so important. If this is your only means of income all that "Risk only .5%, .3%, .25%" shit goes right out the window. Your risk management will go out the window for most if you live and die by trading. You need to have a fuck you approach to funded accounts while also having proper risk management and that requires you to have other sources of income.
Thank you!! 💪🏿💪🏿
My opinion is you have to look at prop firms as the casino, they are the house and there model wins in the long run,
If you can play them at there own game get funded and take some leveraged bets and get a withdrawal to your personal account then there a great tool.
Or you can use the funded accounts drawdown level as your account balance and trade small. I wouldn’t get attached to been a funded trader.
100%!
Great video brother. Thanks.
Thank you!
No Probz.
Love your content.
Its great your letting Traders know that Prop Firms are the 'next step' for 'Consistently Profitable' traders and not the 'key' to profitability as a Trader.
Thank you.
Thank you
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Risk management is actually very key and I agree with that, however there are lots of traders that risk 1 to 2% a trade and have great sucess, remember even with 2% risk you would have to lose like 6 times in a row without managing the Loss before stoploss gets hit, if you have a consistent method I believe 1 to 2% is possible, just my take on it tho
Yea .5 percent is too slow and if you’re a good trader, you can easily mitigate losses by getting to break even quickly and managing losing streaks with lot size or RR (meaning a lower TP) decreases. But yea, it’s definitely possible. I’ve did it for all of my challenges and I’m on my way to my third funded account
💯💯💯
@@dc6953 What Prop are you with?
Are YOU funded?
@@dParakeet Yup
Glad I watched
@kimmel trading Hope you can have a video on strategy to pass the challenge. I am struggling with getting one for long and feeling so exhausted now 😢
Risk management is definitely must.
Hi. Say you not profitable, and end the month at a loss on the live account but no breaches of rules/restrictions. Will you still lose the account then?
Risk only the drawdown percentage. Also, ICT has a video on Money Management that will definitely help to flatline drawdown. Great video man 🎈
Thank you!
@@KimmelTrading 👊🏿 anytime
What do you mean by drawdown percentage?
@@avono5330 the maximum drawdown the prop firm allows on your account before you lose the account. Each company has their own.
Thank You
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I failed a challenge due to a math error and being complacent.... I had a swing trade from yesterday that i did not follow up and check what time it hit stop loss, after placing the next day's trades.. Immidiately it hit my mind that I didn't check what time yesterday trades closed, when I check I fond they closed after the daily reset, and Immidiately after taking those trades I find that I have breached, I felt so stupid Kimmel... Guys do u knw any mt5 plug-ins that help us control risk on accounts... Like an mt5 plug in that sets the risk i Want to take per day, per trade, and will nevr place a trade if have exceeded this risk in a day!?? Anyone?
Great video Kim !
Thank you!
If you're skilled and confident, it's ok to risk 1% per trade. For 99% of traders however, if it's real money, they shouldn't risk more than 0.1% on any trade. However ultimately trading comes down to probabilities, risk management and the right state of mind as well as a winning mindset. Trading is extremely similar to professional gambling, however unfortunately, most consistently losing traders don't acknowledge this and change the way they think, resulting in the same actions that lead them to continue to consistently lose money.
How does the overall max loss from ftmo differ to other prop firms ?
My no.1 mentor, big up to you man, keep up with the good work👊
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Can you please make a video on your past performance (PnL) as a ICT student.
That’s a good idea 🙌🏿
@@KimmelTrading Please do. I started in the Photon course, great foundation BTW. However, I learned a bit more with ICT and am still working my way through his 2022 Mentorship and collecting data; so I have a ways to go. I'd love to hear the difference in your growth now. I have a bit of insight from your interview with TradingNut, but more on what you learned from ICT that you hadn't had with any other community and your PnL. Is it the FVG, block breakers, OBs or what specifically has improved your edge with ICT?
The last part hit me 😂😂😂
🦍🦍💪🏿💪🏿
Blowing 40 trades in a row is hilarious. Even blowing 10 trades in a row is a big big hint that you are not ready for trading the markets.
10 is possible for a high RRR strategy. i'm profitable and I had a 10 loss streak or close to it this year
To each there own after 40 accounts if u ain’t learn it’s on u but I learned after 30 haha😂
amazing
What other prop firms allows you to keep a buffer besides ftmo ? I asked MFF customer service and they said they didn’t allow it.
The Funded Trader I believe
the term you're looking for is Kelly Criteria
how to set drawdown
EA up in mt5 ?
and once setup is it still active if my pc is off and i am trading on my phone?
All the tutorials are included. And no, it has to be on, solution is: a VPS for the EA
@@KimmelTrading using VPS wont be a violation in MFF rules right??I feel they track the ip adress too
How would you even pass a challenge with 0.5 % risk. You definitely need 1% risk
If you take 100 trades per month, 0.5 is enough
Actually you want to aim for a 2% risk, so that you can quickly pass it. And then lower significantly your risk to what shown in the video. But I’ll only recommend that if you have a solide edge
just a question if the drawdown in ftmo is 10% and the profit target is 10% does it mean i need to double the account in 1 month?
You could say so, yes
Exactly.
controlled or not..Imma Ace it..nice video!
Many funded programs saying EAs allowed or not, what is an EA?
Expert advisor (basically a robot)
Me risking 1% divided in to 5 trades, meaning 0.2% risk each pair of trading with 50-100pips stoploss
I was over risking on phase bro 😅😅
👀👀
Good advice. But it's even more simple than that: risk management should only be applied to the max drawdown, end of story. Your max drawdown is your actual account size. If you lose that amount, you're out. So THIS is the account.
True but then you’d have to make 100% (on the 10% max drawdown) just to pass the challenge. It’s hard to make 100% in 30 days using .5% risk, that’s 200 wins just to pass. Even hard at 1% risk.
@@jordinlissone8582 You've got it right, 100% in 30 days is exactly what you are supposed to do. So you must use very high risk for the duration of the challenge. And once you've passed it, if you want to keep that account, you must totally change your risk management.
At the same time, it’s not your money, which mean that you can afford to lose it
@@KimmelTrading of course you are free to pay for new evaluations endlessly.
Is there still slippage with MFF
Yes
how is the tesla bag holding up
Good
@@KimmelTrading i hope you still have the print screen
@@Nasdaqslaktarn I do hahaha. See you in 10 years
No $1250 is not a normal wage everywhere
9:35 killed me.... 🤣😂... "of course he wants us to leave some dollars in the account so we can lose it".
It's a perspective people can have, and it's valid. But leaving money in the account was an advice I've always given
@@KimmelTrading I agree too, I would never leave money with any prop firm, whatever I qualify to withdraw I take it all, meditate, reset and start again.
Normal wage in Switzerland is like 5 times 1250 😜
Yeah, that’s what crossed my mind as I said it hahahah
@@KimmelTrading That’s how I pay my FTMO challenges. 😜
How much better to get wisdom than gold! To get understanding is to be chosen rather than silver.
Proverbs 16:16 ESV
Thanks for the tips 🙌✝️👍
🤌🤌🤌
Hi Kimmel - It would have been so much better if you actually had the 4 traders available for the video and discuss their strategies. Personally I don't like the videos where there person is reading others twitter posts. We can do that ourselves. Not my favorite video. Sorry, for the harsh feedback, I've tried to make my feedback as constructive as possible.
It was not a Twitter post, it was a DM. I’ve made a video with their videos, but I don’t want to constantly ask for videos of themselves. Thank you for the feedback tho!
I blew my account by $21
When will you be getting a dog?
When I have the time to take care of it hahaha. Too much responsibility now
Great pointers my man, however I am by no means a monkey, but I do have a plan. 😎
I was here 1st.
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Not a good video
looking for something like the ftmo mentor app guys.please help out?Is there any that you know that can work for mt5????
Please review rules the5ers instan funding