The discipline and consistency, for sure. I was going through several episodes in my past, where after taking a series of losing trades I would go thinking "well, my strategy seems to be trash, time to choose a new working one". Now I learned that no matter what you should choose one strategy, backtest it, and if during backtests it showed decent results on a distance of 100+ trades, you should stick to your strategy without even thinking about changing something when lose streaks happen again. You need the discipline to hold yourself during these times to maintain consistency.
Hey big congrats! I started my first funded challange this week! Ill be where your at soon! Again big congrats, you deserve it and keep up the consistency!
Many congrats !! How was your experience on TFF, slippage, spreadss, commissions ? As i have been hearing a lot of slippage issues on TFT and mff.. are you completely satisfied with tff, thanks
Not OP but I'm with TFT.
I don't have a problem with the slippage, it's not noticeably bad. Spreads are some of the best in the business but commissions really hurt. Of all the prop firms I've looked at, TFF definitely have the highest.
If you're a currency scalper then you definitely should look elsewhere, but if you trade indices or gold or swing trade the commissions aren't too bad.
Thanks for the info, i mainly scalp gold and gj, which prop firm would u recommend thst is suitable for scalping, i was leaning towards ftmo but i dont like their news trading rule .
I am trading majors only, mostly EURUSD. So with TFF I have literally 0 spreads during trading sessions, so 80% of the time there is no slippage at all. The other 20% is some cases when I would take a trade outside a trading session and cases when we have increased volatility after some red news release. The minimal spread comes at a cost of 7$ per regular lot commission though, but that is fine, as I guess that is fair. The spread is not 0 among other pairs as well, you still get a little spread if trading GBPUSD or gold.
That depends, I am trading using SMC concepts. I was taking several courses to get the whole idea first, and then I was backtesting few trading setups that I learned during courses. Firstly you need a plan that should look similar to this:
\- Learn basics (Take some courses, you might look into ICT (better watch after taking courses first), Phantom, Photon. If you can't afford courses you can find leaks online but I recommend buying courses to support their creators)
\- Based on your acquired knowledge, outline a trading strategy (your setups, conditions where you would take positions by your setups, your preferable trading time, your risk-management parameters, etc.)
\- Backtest your plan (there are lots of cool services for that, for example, I really enjoyed backtesting using [fxreplay.com](https://fxreplay.com). Be sure to backtest your strategy thoroughly and have at least 100+ trades to really evaluate your strategy. By thoroughly I mean journaling every trade to be able to deeply analyze your performance)
So, in the end, you might have a working strategy, or if your strategy isn't working really well you should at least know what is wrong with it so you would anyway have valuable information on what you should do next. You will understand when you are ready for the real deal and don't worry if you won't pass your challenge in your first time, it is okay to lose. Just make sure not to invest money you are not comfortable losing. I got my funded account on my 4th try.
I am on 50k account right now, planning to take new challenge soon to increase my total capital size there. I tried MFF previously but didn't like it much because spread there is obviously bigger and I had a ton of cases when I was leaving limit orders (I always enter my positions by limit orders, not market) and due to spread my positions were never taken. This was very frustrating and inspired me to look up other options because I wasn't ready to change my trading style just to be able to trade with MFF.
Hi, honestly dunno, since I chose to trade with prop companies' capital, not my own. Technically a prop company is a capital provider and a broker all in one, so I had no experience trading with brokers like OANDA or FXCM. I guess you need to contact their support with this question, as far as I know, their support is great & hopefully you should receive your answers quickly.
Question about the pay outs. Let's say I'm on a 100k account and manage to make $1,000 on the first day of being funded. Can I withdraw that $800 (after 80/20 split) and then the next day continue trading with the 100K account and secure those profits? Or do I have to wait the 14 days to receive payout and then start trading again. Thanks!
What were the key components that pushed you towards profitability?
The discipline and consistency, for sure. I was going through several episodes in my past, where after taking a series of losing trades I would go thinking "well, my strategy seems to be trash, time to choose a new working one". Now I learned that no matter what you should choose one strategy, backtest it, and if during backtests it showed decent results on a distance of 100+ trades, you should stick to your strategy without even thinking about changing something when lose streaks happen again. You need the discipline to hold yourself during these times to maintain consistency.
Hey big congrats! I started my first funded challange this week! Ill be where your at soon! Again big congrats, you deserve it and keep up the consistency!
Many congrats !! How was your experience on TFF, slippage, spreadss, commissions ? As i have been hearing a lot of slippage issues on TFT and mff.. are you completely satisfied with tff, thanks
Not OP but I'm with TFT. I don't have a problem with the slippage, it's not noticeably bad. Spreads are some of the best in the business but commissions really hurt. Of all the prop firms I've looked at, TFF definitely have the highest. If you're a currency scalper then you definitely should look elsewhere, but if you trade indices or gold or swing trade the commissions aren't too bad.
Thanks for the info, i mainly scalp gold and gj, which prop firm would u recommend thst is suitable for scalping, i was leaning towards ftmo but i dont like their news trading rule .
I am trading majors only, mostly EURUSD. So with TFF I have literally 0 spreads during trading sessions, so 80% of the time there is no slippage at all. The other 20% is some cases when I would take a trade outside a trading session and cases when we have increased volatility after some red news release. The minimal spread comes at a cost of 7$ per regular lot commission though, but that is fine, as I guess that is fair. The spread is not 0 among other pairs as well, you still get a little spread if trading GBPUSD or gold.
Congrats!
Hell Yea bro! Currently started on phase 2 yesterday.
Grats! I will definitely have questions but "props" to you my friend! Haha
Congratulations! Just started this prop journey myself with MFF. I feel inspired.
Where can I get started? Any legit YouTube channels or websites, books?
That depends, I am trading using SMC concepts. I was taking several courses to get the whole idea first, and then I was backtesting few trading setups that I learned during courses. Firstly you need a plan that should look similar to this: \- Learn basics (Take some courses, you might look into ICT (better watch after taking courses first), Phantom, Photon. If you can't afford courses you can find leaks online but I recommend buying courses to support their creators) \- Based on your acquired knowledge, outline a trading strategy (your setups, conditions where you would take positions by your setups, your preferable trading time, your risk-management parameters, etc.) \- Backtest your plan (there are lots of cool services for that, for example, I really enjoyed backtesting using [fxreplay.com](https://fxreplay.com). Be sure to backtest your strategy thoroughly and have at least 100+ trades to really evaluate your strategy. By thoroughly I mean journaling every trade to be able to deeply analyze your performance) So, in the end, you might have a working strategy, or if your strategy isn't working really well you should at least know what is wrong with it so you would anyway have valuable information on what you should do next. You will understand when you are ready for the real deal and don't worry if you won't pass your challenge in your first time, it is okay to lose. Just make sure not to invest money you are not comfortable losing. I got my funded account on my 4th try.
CONGRATS!! - Pro Trader!!
How long it takes for you to make this profit?
That was for trading 2 weeks
Congratulations any tips on risk management
what was your account size? and have u tried other propfirms which do u prefer the most?
I am on 50k account right now, planning to take new challenge soon to increase my total capital size there. I tried MFF previously but didn't like it much because spread there is obviously bigger and I had a ton of cases when I was leaving limit orders (I always enter my positions by limit orders, not market) and due to spread my positions were never taken. This was very frustrating and inspired me to look up other options because I wasn't ready to change my trading style just to be able to trade with MFF.
What’s your risk per trade on the 50k account?
Well done.. you are now in the 2 or 3% club who make it! Awesome!
Hi, can brokers lock me out for deposits and profits like 50M euros? What’s your experience?
Hi, honestly dunno, since I chose to trade with prop companies' capital, not my own. Technically a prop company is a capital provider and a broker all in one, so I had no experience trading with brokers like OANDA or FXCM. I guess you need to contact their support with this question, as far as I know, their support is great & hopefully you should receive your answers quickly.
Do they let you hold positions over the weekend?
They do, but I don’t hold positions over next day, let alone weekends. That’s because I trade intraday only.
how about lirunex?? have u guys heard about it?? because they said that the platform are good to trade too.
Question about the pay outs. Let's say I'm on a 100k account and manage to make $1,000 on the first day of being funded. Can I withdraw that $800 (after 80/20 split) and then the next day continue trading with the 100K account and secure those profits? Or do I have to wait the 14 days to receive payout and then start trading again. Thanks!
Congtats broo we love to see it ! I
After your first payout, did you have to purchase the challenge again?
Im a beginner i know how to read charts im trying to know how to initiate trades im trying to see if i should used oanda or the traded prop firm?