Is It Better to Trade with a Prop Firm or Trade Your Own Money?
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- Опубліковано 8 вер 2024
- Andrew Lockwood explains why trading Forex using the Prop Firm Funded account is no different than trading your own money when it comes to the emotional challenge. If you want to become a successful funded trader this is a must-watch video.
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The City Traders is a community of aspiring traders who can explore effective methodologies to eventually make a career as a funded trader. We know that the education and proprietary trading industry is crowded with unrealistic expectations and criteria resulting in failures.
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-------- Risk Disclaimer
Trading the financial markets carries a high level of risk, and may not be suitable for everyone. The information made available here is to provide education only and not investment advice. We recommend that you seek professional advice before carrying out specific transactions and investments.
Futures, CFD, Margined Foreign Exchange trading, Warrants, Options, and Spread Betting carry a high level of risk to your capital. A key risk of leveraged trading is that if a position moves against you, the customer, you can incur additional liabilities far over your initial margin deposit. Only speculate with money you can afford to lose. Futures, CFD, Margined Foreign Exchange trading and Spread/Binary Betting may not be suitable for all customers, therefore ensure you fully understand the risks involved.
#propfirm #fundedtraderprogram #tradingemotion
Andrew Lockwood explains why trading Forex using the Prop Firm Funded account is no different than trading your own money when it comes to the emotional challenge. If you want to become a successful funded trader this is a must-watch video.
I agree, your emotions should be in place. Managing your personal account should be no difference as managing a prop account in terminal of risk managing.
But of the trader dont have the power of equity could give you, is better to put an effort passing an evaluation to manage a larger capital than the one we can put on broker platform.
And be aware of ponzi schems as you say, been there!
I like that mentality, no one trade should make you, no one trade should break you. I just started implementing that in my trading and my consistency is trending up. I'm looking forward to staying consistent with that mentality.
I wrote it down on my rules book
No one trade should make you, and no one trade should break you... very correct, but to abide by it, not as easy as it sounds
if it was easy everyone will be a millionaire!
I'm a funded trader but my goal is to make a decent amount to eventually trade with on a personal account for several reasons one being I prefer spread betting for the tax-free advantage it offers Vs having to pay taxes as a funded trader and being generally free to set my own rules.
Goodluck!
Which brooker do you use ?
Who said you have to pay taxes as a funded trader? Open an company and let the payout get deposited to your business. Pay yourself 10-20%
@samricher still have to pay corporation tax on it. Most brokers pay out in crypto nowadays... not taxable
Interesting, clearly expressed, overview of the pros vs the cons of trading prop funded capital. I agree, the trader's psychology, sound discipline, great risk management, are among the most important aspects when trading any capital, however.
for me going with prop firm is cool...and am currently trading with liquidmarket offering both MT4/5 at the moment
Great! Thanks for sharing
Am I the only one thinking that the biggest reason professional traders win more is because they have a risk manager that taps them on the shoulder and gets them out of trading before they blow up themselves? Wish these on line prop firms can do the same thing. Sadly, most of them are taking off the daily loss limit because they are realizing the gamblers who blow accounts up keep coming back to pay them more for the evaluations and activation fees
Great explanation of the prop industry Andrew...its fascinating how much opportunity is available to retail traders now...but people must be careful choosing prop companies!!
My number 1 fan
We need to grow this channel
If i want to buy a Prop Firm account what are the main condition that i must pay attention to before i deposit my money.
thanks Andrew
Can US traders use city traders prop firm
Hi Andrew, can you do a video explaining what's in your course (if that's what you offer) please? Thanks 👍
Sure thing!
@@user-ok8tm8cu3i Thank you 👍
If u make 5% per month, just put your money on some index and you will get slightly less results but much more time
true, but not everyone have big capital for investment
thank you always 😇
Great video Andrew! One thing I don't understand though is.. you are saying a realistic percentage gain per month is 5-10 % right? But we can gain 4% on just one trade if we risk 2% on a 1:2 RR ratio! So I think the Monthly percentage gain would be much higher than 5-10% 🤔 and that is taking into account the losses we'd face. I would love your feedback on this 😀
It’s because he was suggesting only risking 0.25% to 0.5% which means that a monthly gain of 5% would be equivalent to a monthly gain of 20-40% which is very good.
Pre-trade or anticipated RRs are nothing more than perception. It is not guaranteed. The only thing ever guaranteed in every trade is risk, never return. And thus the wisdom of keeping risk small to 0,50% or so, especially for newbies. It's fine to run the analytics on your performance over time; the past week, month, quarter, year, etc., and see that your trading acumen is good or improving as measured by a metric like RR, etc. But I continually hear some people refer to this idea that - "I only take trades with 3:1 RR" or whatever. Do you see the flaw in that logic? No matter how 'good' a trade 'looks', the metric that matters in deciding whether to take it is the risk. Anything else is belief in one's trading acumen, which has to be built, and not the 'picture' on the chart. Charts should actually, probably be banned entirely and traders just trade the quote; read the tape. That would do away with a lot of the RR narratives. Cheers
excellent advice
Glad it was helpful!
Thanks 👍
Welcome 👍
useful, thanks
Glad it was helpful!
what's the true math behind stated acct equity and actual acct size when considering drawdown, max contract size, leverage, etc? It's not like prop firms are giving out $25k, $50k, $75k, $100k, $250k, etc on a whim. One's essentially paying for access to levered capital w/ acct size equal to margin allowable to carry those contracts
fancy a shot? check out our assessments. Great for those that can trade but dont have capital
Some wise words in this video.
Thank you for support and kind words!
av heard that when u got funded you don't trade with real money but with a demo account but when you earn profits they will pay you, i don't understand how that works, can someone explain this to me
Lots of people fail the evaluation stages. They pay with that. If everyone passed and made a profit they wouldn't be able to pay, unless they have insurance for that.
Exactly like a lottery. Sell 10k tickets at $500, only 2-5% win. Pay out with ticket revenues.
LOL....the real reason most traders using Prop Firm Money is...... The prop firms are HEDGING against YOUR BET........ it is THERE CLOSELEY GUARDED SECRET because it makes them money. Imagine the Power of Volume Hedging against your BETS...... that is about as equal to reaching into your pocket and lifting some cash out for myself.
How you know
I dont understand..
I'd love to know your source of this 'closely guarded secret' if it is so guarded, how did you know? This is a myth that's been circulating for a long time, being in this industry I am still yet to see proof to this
Always that one guy that sucks at being good at something so it all just should be made up and no one makes money ever. Lol. YOU place the trade. No one can know when you’re gonna place and not place a trade pal. And a prop firm can’t change the fluctuation of orders. Go watch some more videos
@@PartyJokesHaHa source : trust me bro
I have a proper account and the casino account, believe me the casino account with good money management and proven skill makes a leaving but only high quality set ups 😂😂😂😂
Good luck!
1:21 My Forex Funds 😂
yeah , not good
Quit smacking your lips
I could watch more of his videos if he stops doing that. It really throws me off
@@echeemmanuelgodwin6279broo😂😂 I remember watching his videos year ago and had the exact same thoughts. It wasn’t a problem until I noticed it, then it was all I could hear and shit annoyed me lmao
So you’re talking about smacking more than the information wow