Coach at FalconFX. I occasionally like to trade 📈📉
Montréal, Québec
Joined January 2021
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Always sad to see one of the bigger firms drop. Golden era of props behind us…but with carnage will rise a better model.
Be cautious with third party prop firms at this point in time. Obviously it’s a turbulent time and not all firms will survive. If you do buy assessments, stick with places that have proven to show their stability.
I don’t think the model is going anywhere tho.
Prop firns aren’t going to go away but the industry will go through some turbulence as it grows and evolves. You should look at building your trading in the same way that has survivability and can stand the test of time.
Ngl, I never understood why people go full time to go ‘all in’ on trading. Surely the added pressure everyday is actually gonna force you to be on a timeline and force your bias on the market no?
If you took the 5 years and had income coming in, it’s genuinely way easier.
How long have you been truly consistent with your processes?
I’ll start. This journey started 8 years ago for me, proper consistency in routine, growth, intentionality…probably 4 years at the moment.
This may sound obvious, but part of your goal is to risk less to make more. Just observing, there are a lot of people taking tons of trades per day and sure it’s profitable in the end. But if you’re risking more via positions to make less in the end, it’s a dangerous formula.
As we approach end of month, take the time to review the price action this month, see what you did right and wrong and move closer to your goal next month.
If you had a poor month, that’s perfectly fine, don’t let it dictate the rest of your year.
Drawdown is part of every strategy. When you understand your edge, you understand the sequence, you’re able to trade the through it.
I swear people pre 2020 understood that there were multiple ways of trading and that’s chill. Since then it has been so conspiratorial and it has consumed so many people sadly.
It’s fun to watch outside in, but it really is affecting people.
Abdullah Salem retweeted
All the details of Oanda Labs Trader at a glance:
Phase 1 profit target: 10%
Phase 2 profit target: 5%
Time Limit Per Phase: 120 Days
Inactivity period: 20 days
Daily loss limit (balance-based): 5%
Maximum drawdown (trailing): 10%
Maximum leverage: 50:1
P1 Minimum Trading Days: 6
P2 Minimum Trading Days: 4
Profit Split: 75%
Max initial Allocation: $2m
EAs Allowed
Weekend holding allowed
Stop lost not required
Retry discount: 20%
Pricing:
Titanium | $249 | $25,000
Silver | $399 | $50,000
Gold | $699 | $100,000
Platinum | $1,200 | $250,000
Black | $2,400 | $500,000
Abdullah Salem retweeted
The most effective way to recover draw-down as a trader 📉📈
It does not matter what system you trade, this is a universally applicable method.
Make sure at some point during the weekend to look back at the previous week’s price action and compare how you performed.
Did you enter trades premature/late?
Did you miss some signals to notice a move?
Did you trade your plan accordingly?
👇
Part of the edge of developing the right experience is looking at the market when it’s closed as you’re not forced to make in the moment decisions.
But you can also look at it from a more unbiased POV. If you missed a move, your job is to understand why.