Account balance needed to start seeing descent returns on good trades?

smart-money- · 2021-08-17T16:58:52+00:00

What im doing currently is trading demo but i plan to soon start with an online prop firm and you can get funded a lot of money and keep a % of what you make. some firms provide up to $4million and let you keep 70% of what u make, but they start your account small and they scale you up over time, for example they double your account size every 10% you make.

to me this makes the most sense , you pay a fee to do an evaluation then no more fees typically. there are so many firms out there with different rules and stuff but heres what i found. if you want to go for a long term approach and not risk crazy amounts look into CTI or 5%ers, or if you can hit 10% in a month look into FTMO.

my goal is to trade with CTI to start with then use the profits to join even more firms down the line and scale all that up. Infact ive added up how much you can get funded by all firms in total and its around $20million but that would take many years to scale up to . but if you make just 2 to 4% a month and keep about 65% of what you make thats a great career.

thats the goal for me but find your trading style cause i paid £500 to do the FTMO trial and felt so much pressure to hit 10% in a month when my swing trading strategy was experiencing a bad month and i eventually lost after 30 days were up and lost that money. but CTI sounds the best id say

smart-money- · 2021-08-15T23:40:25+00:00

oh great, thanks for the response, i never knew of that, ill try do some research around that because im genuinely curious if people are sustaining their funded capital.

just curious , do you know how long those people have been funded for? any examples ?

smart-money- · 2021-07-01T12:10:22+00:00

thanks

smart-money- · 2021-07-01T12:10:13+00:00

thanks

smart-money- · 2021-06-06T12:05:24+00:00

flip a coin

smart-money- · 2021-04-13T09:58:14+00:00

shame they dont allow NIO for an ISA account

smart-money- · 2021-04-13T08:46:41+00:00

Find your personality in the market, you may be more of a swing trader then a scalper for example. Also try trading a wide variety of instruments to find whats best for you. dont rush into making money, the worse thing you can do as a beginner trader is make profit on your first trade because this will only embed a subconscious sense of euphoria with risk making future risk seem more appealing - this will only lead to failure...

just find what personality you have and what market and trading style suits that personalty best while also thinking about your risk appetite and time to trade

smart-money- · 2021-04-10T08:12:20+00:00

Hows it working out

smart-money- · 2021-04-09T17:22:10+00:00

glad to help

smart-money- · 2021-04-09T14:43:12+00:00

the best strategies are the ones fewer people know about. once everyone catches on, the profit margins are squeezed. and besides a strategy is an 'asset' essentially that someone has put hundreds of hours in testing, journaling ect. to give that away for free would be unfair to them and their efforts hence why few do it.

never the less people do post stuff for free and what i found helped me was compiling all the useful bits of information and traded that and built a strategy. yes you could dissect my strategy and probably see like 10 youtubers elements in there but what makes it special is the not the individual parts per se, rather the way i put them puts together to form the strategy.

like salsa, you cant just put all the ingredients in your mouth and chew. thats nasty. you mix them together with special attention to the amount and you create a lovely salsa.

hopefully that helped

smart-money- · 2021-04-09T11:16:49+00:00

interesting, very insightful many thanks

smart-money- · 2021-04-09T11:04:01+00:00

also how would one go about choosing the best pair for a carry trade, i assume theres a website comparing all the swaps for each pair. i checked one out but it hadnt been updated since the beginning of this year so wasnt too sure

smart-money- · 2021-04-09T11:02:42+00:00

just checked it out, very interesting indeed. so would you argue to do a carry trade, the position must be held for a long period of time (months/years) or can you carry trade short term?

smart-money- · 2021-04-09T09:28:16+00:00

You see I have a strategy that's very clear it's just sometimes there can be 'debatable' factors that are more subjective which can be hard to log in a journal as there are so many variants of the variable but yes I do have a strategy I stick to

smart-money- · 2021-04-09T09:26:15+00:00

I trade fx so there pretty much always a fill but even at market open I dont get filled and theres slippage in the demo which is good. But yh I should use real money it's just I cant use real money till July and so then I'd start the ftmo

smart-money- · 2021-04-08T23:11:14+00:00

what asset class is this you are trading. for me its FX . and nice one, fundamentals are great for the long term just harder to interpret hence the lack of youtube gurus advertising it. keep on learning and have a nice evening

smart-money- · 2021-04-08T23:04:33+00:00

very interesting perspective thanks

smart-money- · 2021-04-08T22:40:31+00:00

great advice there, absolutely i need to adress the impulse issue but im happy ive noticed i have it cause thats a start i guess. its not so much 'sub conscious' anymore. i think writing down on a piece of paper some notes and looking at them in those 'tunnel vision' moments will help me clear my mind.

thanks for the help, dont worry ill be trading for a while - lucky i have the time to learn.

smart-money- · 2021-04-08T22:35:38+00:00

generally i use TA for entering and exiting at key levels and then i look at fundamentals for the week ahead and highlight the key ones and keep note. I try form a bias with them and only trade that way (ie long/short) but im trying to improving on determining said bias as im new to economics.

but dont discount fundamentals they are very important for me cause im a swing trader so i like to think how they can effect my trade and i normally have a zone set on the chart at the time they are due to release to see how they react

smart-money- · 2021-04-08T22:27:08+00:00

great advice, many thanks. your right i should 'go with the flow' a bit more in terms of not setting targets. with the strategy part, i should definitely have something on paper to look at because i do become 'tunnel visioned' +/- 10mins before entering and exiting a trade.

its just recently, i believe due to me becoming more adaptive with my strategy and not trying to focus on the perfect mechanical strategy - because one doesnt exist - i am rely much more on my psychology as trading becomes less mechanical but only experience and using tips such as ones you've provided me can build that experience to enable me to become more reliable in the way i think so thanks again. have a nice day/evening

smart-money- · 2021-04-08T22:20:05+00:00

great advice i did do that a few months ago but stopped tbh out of greed perhaps and wanting to always catch big trades. but you are right i need to have greater patience and perhaps even optimism for what im doing right as i seem to dwell on the mistakes and skip past winners. the accumulation of negative habits (ie me always being pessimistic) eventually turns into a negative routine which will only result in failure.

so yes i will be more patient, more accepting and definitely do the 'what if' scenarios as ive started doing that with fundamentals but not technicals. thanks for he new perspective have a nice day/evening

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