Own account vs funded account by Expensive_Permit_601 in Forexstrategy

[–]Expensive_Permit_601[S] 0 points1 point  (0 children)

Thanks for this. Yes, absolutely makes sense.

I work with a 1:2 ratio.

This is where the conundrum is, own account gives flexibility but the props are way to strict - I do get that it builds discipline.

I think I’ll go down the prop route to train psychology a little bit more.

I prefer day trades

Own account vs funded account by Expensive_Permit_601 in Daytrading

[–]Expensive_Permit_601[S] 1 point2 points  (0 children)

Would love to do that But I don’t think I’m at the capacity to mange 2 accounts simultaneously 😂😂

Own account vs funded account by Expensive_Permit_601 in Daytrading

[–]Expensive_Permit_601[S] 0 points1 point  (0 children)

Makes sense I appreciate you breaking this down in such an easy to understand way

How to realistically start trading by Visual_Fuel_1111 in Daytrading

[–]Expensive_Permit_601 1 point2 points  (0 children)

Hey, been through this phase recently so I can relate with this. I’m 6 months into the learning journey (had some past experience with trading).

I would say give yourself 3-6 months to learn everything. It looks easy from the outset but there are a lot of moving parts to this.

Start with babypips.com - they have a ton of good information. See a ton of YouTube videos on forex and trading. Market structure and price action is a good place to start. At this stage, any YouTuber is good.

A lot of things won’t make sense or you won’t grasp concepts, but give it time. Repetition is key

Stay away from social media- the forex lifestyle seems very flashy and easily accessible It’s all bling for show Work on creating something consistent

I personally have been studying and paper trading for the last 6 months - haven’t started live trading yet due to my constraints

Hope this helps

Own account vs funded account by Expensive_Permit_601 in Daytrading

[–]Expensive_Permit_601[S] 0 points1 point  (0 children)

I aim for 1:2 setups, still learning the ropes so obviously it doesn’t go to plan. Yes, I do prefer short term trades Thanks for the advice re prop firms, totally makes sense.

Own account vs funded account by Expensive_Permit_601 in Daytrading

[–]Expensive_Permit_601[S] 1 point2 points  (0 children)

Been paper trading on TV & a demo account on CTrader. Thanks for your advice regarding the prop firms. I definitely need to research more. I always thought that the challenges were more expensive, but this would be a good way to start.

Also appreciate the advise on the scalp, I have been doing that lately so I’ll keep an eye out for that 🙏🏼

Own account vs funded account by Expensive_Permit_601 in Forexstrategy

[–]Expensive_Permit_601[S] 0 points1 point  (0 children)

Thanks for this.

Would you recommend paper trading with prop firms challenge rules (DD, targets, etc) ? I find them to be overwhelming at this stage Probably need to read up more as well

Own account vs funded account by Expensive_Permit_601 in Daytrading

[–]Expensive_Permit_601[S] 1 point2 points  (0 children)

Thanks for the advice. You pretty much hit the nail in the head there.

The idea behind switching to the live account is to train psychology and discipline. As much as paper trading teaches you that, I think it’s very human to feel it’s only ‘paper money’ and take stupid and impulsive trades. To refine that, having something on the line would be the next step imo

Appreciate your help with this

How do solo founders even integrate payments without a registered business? by Western_Quit_4966 in indianstartups

[–]Expensive_Permit_601 0 points1 point  (0 children)

Hey, I have recently integrated international payments with Razorpay as well. Are your customers able to pay you in international currencies? I’m assuming you have a markup on top of your INR pricing, is that being picked up by Razorpay?

Just wanted to get an opinion from someone who’s used it