@marko_vrecko Planning to scalp a bounce here but then I think we go lower
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Murr
96 posts
You need to
Use volatility-adjusted stops
Fixed pip stops are amateur behavior.
Instead of:
Always 20 pips fix
Use:
ATR (Average True Range)
Session volatility
Event risk
Example:
EURUSD during CPI week may need 40-60 pip risk, not 15-20
Stop placement should reflect market structure and volatility
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I started trading 5 months ago and have $400k in capital already with $14k in payouts. Trading is actually not hard at all, most people just learn from scammers and over complicate everything.
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No, I didn’t lose $17,500 profit.
I lost the broker account. Although, the loses weren’t from stoplosses only, there were times I was withdrawing from my capital too. So, it affected me and after hitting about 4 stoplosses in a row, I withder the remaining balance.
But I had already made about $17,500 before losing the broker account.
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About two years ago, I was trading a $5k prop firm account. At the same time, I also funded a separate $5k broker account.
On the broker account, I took the same trades but risked 10% per trade ($500). My thinking was simple: if I needed about 10 losses to blow the prop account, then I would also need 10 straight losses to. Low the account.
In the first month, I passed Phase 1 of the prop firm and made 10%. On the broker account, I made 100%, which was $5,000 profit, since I was risking 10% per trade.
In Phase 2, I made 5% on the prop account, and on the broker account that translated to 50% ($2,500 profit).
So within about 5 weeks, while passing both phases of the prop account, I had already made about $7,500 from the $5k broker account.
In the third month, I had a 5% loss on the prop account, which reduced my broker account down to about $2,500.
In the fourth month, I recovered the loss on the prop account, so my broker account went back to $5k capital.
In the fifth month, I made another 10% on the prop live account. , and again made about $5,000 on the broker account, making $500 on my prop account.
In the sixth month, I repeated the same result, another 10% ($500) on the prop account and another $5,000 on the broker account.
By the seventh month, I eventually lost both the prop account and the broker account.
In total, even after all the ups and downs and losing both accounts in the end, I made about $17,500 in six months on my broker account and made $1,000 on my prop acc.
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@deartrader__ They’re both important, but the right entry with the wrong bias is gonna be more painful
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Dear traders…directional bias or entry
Which is more important?
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@1MINUTETIP Pretty much, but I work weird hours that compliment my trading very well
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In your opinion, is trading a skill or it’s just controlled gambling?
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Is there anyone who still uses Heikin Ashi Candles?
🤮
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@SayLessFX People often make this point but it’s completely irrelevant and shouldn’t change the way you trade. Prop firms are great but they’re entirely make-believe.
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I only Risk 1% per trade on my prop account
No you don’t
For a $100k account, you have 10% only to trade, risking 1% of the 10% you got to trade with is 10%
The 10% drawdown is $10,000
Risking $1,000 per trade is risking 10% of the $10,000 you have per trade not 1%
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@TheH0n3stTrader I’ve become more profitable since doing more trades from my phone 😅
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Me realizing that trading on my phone was the BIGGEST mistake of my entire trading career.
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@Trader_Ashman @Emmonspired @OmarAgag6 I only use FTMO specifically so I can swing trade, plus their rules are sensible and very easy to follow
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@Emmonspired @OmarAgag6 Swing trading
The vast majority of firms don't accommodate swing traders
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