Hey guys- has anyone here ever succeeded in passing prop firm challenges on a consistent basis? I have about driven myself insane with this, I just can’t see how any strategy could be any better than having a lucky coin to flip. I buy, it dumps. I sell, it pumps. I’ve studied so many strategies from all these gurus who claim to make tons of money, but I can never reproduce their success. Is this just a fools errand and everyone in the space who claims to be successful doesn’t really trade? Or they are just a savant with survivorship bias and because they were the one in a million who could be successful they act like anyone can do this? What do you guys think?
>>62763417All prop firms are scams and everyone who claims they're successful and posy "educational videos" are also scammers. The extraordinary small percentage of actual successful traders have no incentive or motive to gloat or to educate others.
>>62763417Its literally just basic statistics and pattern detection. Trading is the definitive IQ test.
I've failed 7 since January. I think it's doable. My battle is with myself and my impulsiveness and all the things that traders warned about that I thought I was above. My best friend who is a welder has been trading for over a year. He follows rips trades and learned from him on youtube watching his videos. My friend has been taking about 2-4k profits every month or so occasionally blowing accounts so I've seen it succeed. I broke even last month on my live account last month so I'm improving.-t. 130iq high functioning factorio autist
>>62766515>>62766760every trader's a genius until they get trapped in a trade and buttbliterated
>>62763417If you are a trader who can succeed in a prop firm environment, you don't need to use a prop firm beyond an initial cash injection and then moving it to your own futures account. Though I have not looked at a prop firm in at least 2-3 years.Maybe they are less predatory now, but the rules were designed to make sure you cannot take maximum profit on most good trades or else fluctuations will "blow" the account while still being a perfectly fine position due to trailing losses. It fundamentally alters your ability to manage risk/reward and I look at it as leaning much heavier into gambling at that point.It would be fine if you have 500,000 actual dollars to play with on MES and the risk you are taking makes sense as a percentage of the account, but to "win" you would have to trade so much bigger than the $2,000 actual dollars they are giving you (most of them would say like $50,000 account or something but you weren't using that $50,000 at any point) that it severely limits what trades you can take and whether you're lucky enough to see those trades in the time you're trying to win in.I was served much better by throwing $3,000 into a futures account, setting up sierra charts, and watching a bookmap stream off youtube while trading 1 contract of MES than dealing with retarded rules that rig one of the more challenging ways of making money against you even more.
>>62766760>My friend has been taking about 2-4k profits every month or so occasionally blowing accounts so I've seen it succeed.If he's blowing accounts every month, how is that successful?>t. round tripped $3k --> $300k in a month
>>62763417yes you can pass it but the rules are made so the chances of you failing are tipped higherbascially you need a seperate strategy to pass the challenge then you can switch back to your normal one.>t. passed a challenge and used that money to fund my own account
>>62766880This is what i mean: Prop firm 4 accounts copy traded $85x4. $260. Passes eval. Makes $3000 total and withdrawals $2000 leaving 1000 drawdown and then loses his drawdown and has to start over. Something like this.T. Round tripped $45k-$850k in crypto/gamestop
>>62766904I see, but why not just trade without the middleman if reliably profitable? Unless you have a gambling problem or something and limiting your own absolute loss is paramount or something.
>>62766911As you know trading is a slow process. He risks only 240$ and he gets more money/capital to work with. Also he works for a living and is supporting his wife and kid so the less he risks the better he is off. It's only time and as a trader slow and steady is key so it works for him.The psychological aspect of losing the equivalent of 4 accounts would be losing $8000. Its a better proposition to only risk $240 for him when he knows he's a profitable trader but bad things happen.It pretty much is a better form of risk management which we all know is key.
>>62763417Stop day trading! Stop pattern trading!If you have money (at least $50K port), look at these guys for education:https://www.itpm.com/If you're poorfag (<$50K port) then grab these torrent hashes (sourced from rutracker):ITPM Torrents:0FE3C3FBE173C0E9FA3FA1E2D5E7A69569E8F5B5 (IPLT + PTM2) [Core courses]48ECC9B01220EEF74F9C7B9418C04E57160A5F59 (PFTM) [For more macro]F4FAAADC4EFF244E8E546DA6609D14480592BBB6 (POTM2) [Mostly for execution]Day trading is a scam. Painting shapes on charts is like pointing out animals in clouds. Institutions don't do those things for trade idea generation.
