Thanks @DanCheung I've heard clearly that last year was your worst year in trading, you wanted to pass a challenge account very quickly and you end up losing coz you were not following rules From there you learnt a lesson that you should take everything very slow and follow some trading rules Thank you for this
"Drop the Ego" when trading prop challenges. "Have a plan" A set goa/plan helps a great deal in meeting your target.. I honestly needed these tips, thank you Dan.
Don't let the ego control you .. Have a plan and accept your losses without regret ,Learn from it , move on Secure profits as planned, don't be too greedy .. Those are the few of many I've learnt champ 😊
Dan really dropped some golden nuggets on this one, always manage your expectations in trading and think what's sustainable long term. Trading is not withdrawing couple thousand and that's it you've made it. It's about staying in the game for decades and building a great career. Big up Dan ❤
The key lesson I learned from listening to Dan here is that you should have a sound trading strategy that handles all potential eventualities, including streaks of winning or losing trades, and outlines how to manage each one before entering any transaction, as opposed to simply making up a plan as you go.
It's an interesting concept of dynamic risk that you introduce in your video and I wholeheartedly agree. Currently experiencing the same thing in my drawdown.
Perfect timing. I've been currently caught in a drawdown and a losing streak in my account, and it's undeniably messing with my mindset. Your suggestion about starting fresh with a new account, where my mindset is reset, instead of persisting with the drawdown account, really struck a chord. I'll give this approach a shot. Thanks, as always, Dan ! ❤
someone one once said trading is actually easy once you have everything else figured out......the hard part is figuring this everything else......the risk management, getting a profitable strategy & sticking to it and working on your psychology on both winning and losing days
I really like how you treat your funded accounts, moving from to another account after making a % profit or the example you gave if you are in drawdown take a pause for a week and then when you are in a winning streak get the account out of drawdown. Really love that! You're making big moves Dan! Also moving to Dubai is crazy!!
Dan always keeps everything real and relatable to ordinary people's experience. Forcing trades and irrationally overconfidence in the heat of the moment have always been my biggest problem in the past and now i am slowly reducing it through demo. As Dan said many of these problem comes from deeper psychological problems related to 'greed' , 'ego' , 'need to be right' and 'inability to take measured risk'. When experiencing a drawdown of approximately 5%, it's advisable to refrain from trading within that account using a smaller position size. Instead, consider utilizing a fresh account with a regular position size to target larger profits. ☺Loved the insights.
Dealing with a losing streak was the best thing i learned from that podcast. so having different accounts doesn't put the stress to come out of 5% Drawdown because you still can trade in other accounts & getting payouts !
a lot of people think that it is easy to do 10% every month with 6 figures in funding but it doesn’t work that way 3-6% is way more sustainable in the long run
these are the best tips to pass any prop firm challenge everyone should apply this to their trading style & trading would be very easy & stress free 👍🏻
Cycling through funded accounts makes sense. Its like protecting your capital but with accounts. Using trade copiers makes it easy but has its risks. Thx for the insight
Psychological control is very important thing in trading life. Loss and profit is normal thing to a trader. Stick to your plan, control your emotional base tight. Be a robot. Wish you profitable day ahead. ❤❤❤
Dealing with drawdowns intelligently involves staying composed, evaluating the situation, adhering to a well-defined strategy, diversifying your approach, and maintaining a long-term view. This approach minimizes knee-jerk reactions and positions you for potential recovery and growth. It's essential to harmonize your trading activities with your personal goals, risk tolerance, and time commitments. Striking the right equilibrium ensures that trading enhances, rather than disrupts, your chosen lifestyle. Taking holidays is more than just a break; it's a vital investment in your well-being. Stepping away from routine rejuvenates your mind, reduces stress, and enhances creativity. By recharging, you return with renewed focus and energy, ultimately boosting your productivity and overall quality of life. Great interview as always Dan
Understanding personal vs. funding accounts is crucial. Drawdowns need size adjustments and emotional control. Success in funded trading comes with discipline and risk management. Copy trading is convenient yet risky. Live events offer networking and insights. Breaks prevent burnout; focus on strategy, resilience in losses, and growth.📈
Thank you Dan and Cam for this valuable content! I am also struggling right now to come up after almost 2% left to loosing my account. You are an inspiration!! Keep it up
He mentions rotating accounts, is he trading the same funding company or different companies at the same time. I have a tradeday account, but you can only have one account at a time with them. Great interview
When experiencing a drawdown of approximately 5%, it's advisable to refrain from trading within that account using a smaller position size. Instead, consider utilizing a fresh account with a regular position size to target larger profits.
"losing streak are inevitable and one must accept those losses, loss are part of the process and that loss will leads to glory because we always learned from our losses.
"...when in a better state,in better flow, trade a drawdown account and trade it out of drawdawn" Cam was like ahh right🤔💡 "It's crazy right" - Dan...This part is funny for me😂
We must accept defeat or loss. Therefore risk management is very important in trading. Keep emotional control, don't be greedy. Consistent with the techniques and trading plans that we have made, that is the key to success in trading.
My lesson from this relatable content is that even though ease of access, trading is a hard business. One must have a certain well-tested framework/plan. And most important of all one must have mindset and discipline to follow that plan. 💥💯
You have to understand the rule of playing the funded game.. So you have to drop the ego, have a refined enough strategy and have a funded account plan when it comes to your risk management.
These things are more important to traders those who do trading in funded accounts. If we get a thought that trading is easy and can be done easily, its not good. Need to have a proper plan, take the responsibility of the account, trade with disciplines and have a proper risk management, and also need to accept losses even.
Thank you Cam and Dan for this awesome podcast, Trading journal has really helped me in my trading. career. Accept loses its part of the game , "Drop the Ego " keep going ,never give up
JOIN MY FREE TELEGRAM TO SEE HOW I'M TRADING: t.me/+7DXVoqjqijowMWEx
Thanks for having me Cam, look forward to another catch up again in the future once more goals have been hit!
Always a pleasure mate! Absolute gold in this interview... hope folks listen to the end.
Thanks @DanCheung
I've heard clearly that last year was your worst year in trading, you wanted to pass a challenge account very quickly and you end up losing coz you were not following rules
From there you learnt a lesson that you should take everything very slow and follow some trading rules
Thank you for this
Great interview brother
Keep up that attitude always Dan,you make all of us smile :)
Looking forward to seeing Andre too! Wow how time flies
It's so important to take 1:3 or 1:4 consistently is better than BE or a loss
Great content to learn Dan .
"Drop the Ego" when trading prop challenges.
"Have a plan" A set goa/plan helps a great deal in meeting your target..
I honestly needed these tips, thank you Dan.
Excited for this guys!
Don't let the ego control you ..
Have a plan and accept your losses without regret ,Learn from it , move on
Secure profits as planned, don't be too greedy ..
Those are the few of many I've learnt champ 😊
Don’t let anyone on social media make you feel any less of a trader it’s your journey, it’s you vs you! You got this!!💪🏽
accepting the loss when trading, and also develop and follow your trading plan
Lets go Champ!
You guys have the best traders and I’m so excited to start another account with you guys,hopefully I can win🤩🚀
The most important input to your trading success is your ability to be patient to lose enough. Remain consistent. Good luck
Dan really dropped some golden nuggets on this one, always manage your expectations in trading and think what's sustainable long term. Trading is not withdrawing couple thousand and that's it you've made it. It's about staying in the game for decades and building a great career. Big up Dan ❤
I learned alot from this but what hit me the most was that tradeing highlights everything bad in u and forces u to change 💯
The key lesson I learned from listening to Dan here is that you should have a sound trading strategy that handles all potential eventualities, including streaks of winning or losing trades, and outlines how to manage each one before entering any transaction, as opposed to simply making up a plan as you go.
Indeed putting ego aside is not is, this thing of wanting money faster is the ultimate killer in trading
Thanks for information about how to be stick with one startegy and how to manage the risk. Its been a nice session with you man.
I went on the wrong space initially Happy am here Now
Excited to see this unfold!
It's an interesting concept of dynamic risk that you introduce in your video and I wholeheartedly agree. Currently experiencing the same thing in my drawdown.
Perfect timing. I've been currently caught in a drawdown and a losing streak in my account, and it's undeniably messing with my mindset. Your suggestion about starting fresh with a new account, where my mindset is reset, instead of persisting with the drawdown account, really struck a chord. I'll give this approach a shot. Thanks, as always, Dan ! ❤
someone one once said trading is actually easy once you have everything else figured out......the hard part is figuring this everything else......the risk management, getting a profitable strategy & sticking to it and working on your psychology on both winning and losing days
I enjoyed the interview from being the first person here to the last person to leave 😅
I really like how you treat your funded accounts, moving from to another account after making a % profit or the example you gave if you are in drawdown take a pause for a week and then when you are in a winning streak get the account out of drawdown. Really love that! You're making big moves Dan! Also moving to Dubai is crazy!!
Dan always keeps everything real and relatable to ordinary people's experience. Forcing trades and irrationally overconfidence in the heat of the moment have always been my biggest problem in the past and now i am slowly reducing it through demo. As Dan said many of these problem comes from deeper psychological problems related to 'greed' , 'ego' , 'need to be right' and 'inability to take measured risk'. When experiencing a drawdown of approximately 5%, it's advisable to refrain from trading within that account using a smaller position size. Instead, consider utilizing a fresh account with a regular position size to target larger profits. ☺Loved the insights.
Hot pick:@wannabe champ is always involved in the best trading podcast🤧🔥
Both are excellent speakers ,overall good conversation and informative
Dealing with a losing streak was the best thing i learned from that podcast.
so having different accounts doesn't put the stress to come out of 5% Drawdown because you still can trade in other accounts & getting payouts !
a lot of people think that it is easy to do 10% every month with 6 figures in funding but it doesn’t work that way 3-6% is way more sustainable in the long run
And we are liveeee🎉🎉🎉
Importance of consistency is well explained and method of achieving it
Trading is incredibly easy, but also hard, because of the discipline it requires 👌
You vs you and Me vs Me. Never ever quit. Stay hard!!
these are the best tips to pass any prop firm challenge
everyone should apply this to their trading style & trading would be very easy & stress free 👍🏻
23:19 Makes sense anyway because 8-10% is what those accounts are built for. They have us target them in the phases.
Treat it like a business.
Me vs Me
Thanks man and this is one of videos that makes us stay humble and Execute like a Bot, Truly it's not much about the Strategy but about the Trader.
We can pass easily an losing streak if we respect the strategy and the risk management to be the same to don't over risk when we have a lose
One thing I like about the video is, a profitable trader Is you accept your losses and keep sticking to your strategy.
Nice interview 🔥
Daniel gave the best tips on passing funding challenges 😊
Thank you for these advice to pass the challenge
I am highly impressed by TN realistic and pragmatic approach. Dan thanks for keep introducing us stuff like this time and again.
Cycling through funded accounts makes sense. Its like protecting your capital but with accounts. Using trade copiers makes it easy but has its risks. Thx for the insight
Have your funded trading plan
Psychological control is very important thing in trading life. Loss and profit is normal thing to a trader. Stick to your plan, control your emotional base tight. Be a robot. Wish you profitable day ahead. ❤❤❤
I learn to always love what you do and improve in yourself and when it comes to trading always proper risk management and always stay consistent
Appreciate the video! Learnt valuable things that I’m gonna incorporate into my trading journey!
Dealing with drawdowns intelligently involves staying composed, evaluating the situation, adhering to a well-defined strategy, diversifying your approach, and maintaining a long-term view. This approach minimizes knee-jerk reactions and positions you for potential recovery and growth.
It's essential to harmonize your trading activities with your personal goals, risk tolerance, and time commitments. Striking the right equilibrium ensures that trading enhances, rather than disrupts, your chosen lifestyle.
Taking holidays is more than just a break; it's a vital investment in your well-being. Stepping away from routine rejuvenates your mind, reduces stress, and enhances creativity. By recharging, you return with renewed focus and energy, ultimately boosting your productivity and overall quality of life. Great interview as always Dan
Understanding personal vs. funding accounts is crucial. Drawdowns need size adjustments and emotional control. Success in funded trading comes with discipline and risk management. Copy trading is convenient yet risky. Live events offer networking and insights. Breaks prevent burnout; focus on strategy, resilience in losses, and growth.📈
Thank you Dan and Cam for this valuable content! I am also struggling right now to come up after almost 2% left to loosing my account. You are an inspiration!! Keep it up
Consistency is very important as dan explained it perfectly by giving examples 💯
Never over trade... Thank you Daniel
He mentions rotating accounts, is he trading the same funding company or different companies at the same time. I have a tradeday account, but you can only have one account at a time with them. Great interview
When experiencing a drawdown of approximately 5%, it's advisable to refrain from trading within that account using a smaller position size. Instead, consider utilizing a fresh account with a regular position size to target larger profits.
Learning money worth knowledge for free. Bless up fam ❤🙏🏽
Adapting to the challenges and tailoring your plan to overcome them 👏🏽👏🏽 great advice @DanCheung
Yes. trade life relationship is correct. I am affected by negativity in my life in trade.
i think i've got my A-ha moments right now, thx to all of you guys, so insightful
Great advice. We learned a lot.
I like the idear of the Trading plan, for both funded accounts and live accounts. And I like your 5% target on your live account ❤
Thanks Dan for this valuable content.
Discipline and consistency is the key💯
Nice listening to traders with results
"losing streak are inevitable and one must accept those losses, loss are part of the process and that loss will leads to glory because we always learned from our losses.
Thank you for the helpful Video. 🔥🔥 have a good risk management and stick to your trading plan
This video is better than others videos
11:44 He's right. Not getting any pay for phase 1 and 2 is a bummer lol
"...when in a better state,in better flow, trade a drawdown account and trade it out of drawdawn" Cam was like ahh right🤔💡
"It's crazy right" - Dan...This part is funny for me😂
excelent speakers, great video
Consistency is very important and there's no perfect road....just keep pushing you vs you me vs me
Am so glad you didn't giveup during those loosing periods ❤
Always secure profits and not be greedy
Waiting patiently
Always manage your expectations and envision what's sustainable on the long term, never forget to adapt to change
We must accept defeat or loss. Therefore risk management is very important in trading. Keep emotional control, don't be greedy. Consistent with the techniques and trading plans that we have made, that is the key to success in trading.
Thanks Dan, I learnt something new here
To accept your losses without regret and learn from it so we can keep moving forward.
Very Awesome and precious Lesson for me. I will get improvements from you lesson. Long live Dear ❤️
I learnt that we should
Drop ego and pride accept your losses then move on to the next
Always be accountable of your decisions while trading
It is essential to take trade as a job or a serious business to maintain a lasting constancy.
overcoming ego and clear planning❤
Trading journal has really helped me in my trading journey
My lesson from this relatable content is that even though ease of access, trading is a hard business. One must have a certain well-tested framework/plan. And most important of all one must have mindset and discipline to follow that plan. 💥💯
Nice lesson here I have learnt, need to take my challenges seriously
Dan is extremely motivated
Getting new challenge when we get draw down is best advice to start every fresh. 🤝👌
Discipline and Rules are the key 🚀
This is going to be epic
That's awesome boss
Really motivated and much advice 🎉🎉🎉
Thanks for the tip
Thanks for having us cam
Entered a bit of downdraw recently
But i believe in my system and have gotten a confidence boost
Understand the rules of Trading, treat a funded account same way you treat your personal account.
Plan your Trade then trade your plan.
Beside the informative videos as always from DAN I love his smile 😁👋
Adapting + recording the trades you took will make you profitable in the long run
You have to understand the rule of playing the funded game.. So you have to drop the ego, have a refined enough strategy and have a funded account plan when it comes to your risk management.
These things are more important to traders those who do trading in funded accounts. If we get a thought that trading is easy and can be done easily, its not good. Need to have a proper plan, take the responsibility of the account, trade with disciplines and have a proper risk management, and also need to accept losses even.
Thank you Cam and Dan for this awesome podcast,
Trading journal has really helped me in my trading. career. Accept loses its part of the game , "Drop the Ego " keep going ,never give up
This is relatable. Thank you
This gives me so motivation...u never disappointed us ...
Tips to pass the challenge;
1.drop the ego
2.have a funded trading plan, refine, execute