Received 1 Karma
Tunde1306
Tunde1306 Mar 02, 3:57 AM

To be fair, prop firms are having issues with Forex because the major platform is banning US clients now. So now I'm testing into a Futures trading firm. 100k account size testing is going well I'm almost 1/3 to the profit target.

Tunde1306
Tunde1306 Mar 02, 4:00 AM

However I only pay 40 bucks to take test. Once I pass there'll be like a 220 activation fee. First payout you can withdraw a max of 2500. I say this to mention risk/reward. I'm investing very little to make a potential ton.

Tunde1306
Tunde1306 Mar 02, 4:01 AM

It's odd I just up and jump from Forex to Futures overnight however I already had a working system trading forex and I just trade the same similar instrument over on the Futures side. You need a working system and you need to size down.

Tunde1306
Tunde1306 Mar 02, 4:03 AM

One thing that started working for me when i was trading in the stock market was to make the switch to CASH account. It really does force your risk management skills because you start to divide your size up especially trading actual shares. Even if you still want to trade options, they settle overnight and you can trade options daily!

Join now or log in to leave a comment
Tunde1306
1
Tunde1306 Feb 07, 9:37 PM

@darrellwayne13 I'm funded a small 5k account with my prop firm. I'm on a 4 day win streak. But that's not as important as the fact that I'm using small size like 1/10 size because I got very close to getting kicked out due to risk parameters. So I'm using small size to get back a cushion and regain confidence.

Tunde1306
Tunde1306 Feb 07, 11:45 PM

@darrellwayne13 Update: Just snapped my 5* day win streak. (Forex trades a little differently than regular markets so my days start sooner) I managed to give back about 3/4th of the profit I made the day before. I'm technically still up and I could lose tomorrow too.. however it's all a number's game man, I'll still be green to close the week from that green streak I had. It's really all about preserving the ratios and risk/reward. Then it's on to the next week, next month, etc.

Tunde1306
Tunde1306 Feb 07, 11:47 PM

It's honestly becoming pretty robotic for me and this is how I want it. I trade the same pair every day as well. EUR/USD for more than a year. Benefits are my chart and all the key levels are already mapped out ahead of time. It helps to take the emotions and randomness out of it too... I really hope this helps your mindset as well hearing this. Good luck out there!

Join now or log in to leave a comment
Page
of 19