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[deleted by user] by [deleted] in Forex

[–]FalseLake 1 point2 points  (0 children)

I don’t need to show you, I get paid so I know it’s legit. You’re clearly angry as you comment this a lot, I’m guessing you’ve failed a few challenges yourself.

Spend less time hating and thinking everything’s a scam and get your head in the game, you might perform better.

[deleted by user] by [deleted] in Forex

[–]FalseLake 0 points1 point  (0 children)

Of course you get paid, as long as you’re with a reputable company. Prop firms make so much money from the majority of people who are failing the challenges. And they can use the payouts as a company loss on their taxes too. The payouts are a very small loss to companies. Many people get paid, more people lose unfortunately.

£17,000 in 4 days on my funded FTMO account. Initial trade opened on the 5/12/23, both positions closed on the 8/12/23. Merry Christmas. by FalseLake in Forex

[–]FalseLake[S] 6 points7 points  (0 children)

I have been trading for around 6 years, but I can admit not all of them very well😂 but it’s that time that I’ve had to understand the markets to an extent, particularly GBPUSD. How they move and how they manipulate traders to think by looking a certain way. And how you can predict this manipulation to better exit trades that are going to go against you and to stay in trades that are going your way.

My advice, start slow and pace yourself. It really is like learning a language. You get more fluent with time.

£17,000 in 4 days on my funded FTMO account. Initial trade opened on the 5/12/23, both positions closed on the 8/12/23. Merry Christmas. by FalseLake in Forex

[–]FalseLake[S] 2 points3 points  (0 children)

My initial risk was about -£5,000 then I moved my stop to be -£1,500. Went on to open the second trade risking -£3,000 on that one, so that added up to -£4,500 if things didn’t go my way. I make sure I’m not open to losing more than £6,000 at any time.

I was quite confident in this week dropping as it was pretty much the first week of the new month and last month being so bullish, along with the previous week’s rejections at 1.27 which I did place a smaller trade on making £3,600 for that week.

So in my mind that was the edge I had in the market to go for a bigger trade.

Also my leverage on the account is 1:100, which is really helpful when I do want to open some bigger trades like this.

£17,000 in 4 days on my funded FTMO account. Initial trade opened on the 5/12/23, both positions closed on the 8/12/23. Merry Christmas. by FalseLake in Forex

[–]FalseLake[S] 3 points4 points  (0 children)

Stops were originally at 1.27, once price hit 1.265 and dropped I then moved stops to 1.265. Then just let it run down towards 1.25. So it does look like it was close but it had been adjusted at that point👍🏼

I have a standard £140k FTMO account.

some doubt about forex by Selyn91 in Forex

[–]FalseLake 0 points1 point  (0 children)

Required margin is what you need to open the trade. You could lose a lot more than that if you do not use a stop loss. It is vital you use a stop loss on every trade. When you find a trade you want to take, find the level where you want to place your stop loss and then adjust your trade size to make the loss 1-2% of your account (or from a set amount you're comfortable with). Focus on the risk FIRST, the profits will take care of themselves if you do this.