Learn the strategies to consistent and profitable (forex) prop trading.
Set-and-forget (S-n-F) is a trading approach in which you set your entry point, stop loss, and take profit levels, let your trade run without further intervention, adjustment, or constant chart monitoring. Let’s talk about the advantages and disadvantages of this method; who should implement it and who shouldn’t: Pros: 1. It reduces mental stress: S-n-F approach...
True Forex Funds (TFF) has permanently suspended operations due to “financial insolvency”. And if you traded with them, you are probably looking for an alternative prop firm. Let me introduce reputable and better options for you: Comparison of TFF Alternatives (Scroll/swipe the table to your left ← or right → to view all providers) Features...
Let’s look at prop firms offering similar or better services, programs or features than FTMO. Here are alternative options for you: Comparison of FTMO Alternatives (Scroll/swipe the table to your left ← or right → to view all providers) Features RebelsFunding the5ers FundingPips Alpha Capital Group FTMO Price range $25 – $890 (Affordable) $39 –...
Scalping is a trading system that aims to take advantage of tiny price movements or changes for profit. It can be very profitable (if skillfully executed). And it is perhaps one of the most attractive strategies to traders. Let’s look at some elements you should consider before you adopt it when prop trading: 1. Trading rules...
Portfolio diversification means spreading your investment across various assets with the intention of taking advantage of different market opportunities. Diversifying can be a powerful tool for protecting accounts and generating profits when implemented smartly and technically. Here are ways to safely diversify your trading capital: 1. Know your risk tolerance Your risk appetite (knowing how much...
As a forex beginner, trading a narrow asset class is more advantageous than diversifying (although diversification is still important, still a very useful risk management technique, it does require more experience). Let’s look at how trade specialization can benefit you: 1. It simplifies your learning curve Jack of all trades, they say is a master of none. This adage...
Let’s analyze bad trading habits that can limit you from reaching your full potential as a trader: 1. Constantly switching from one trading system to another If you often switch from one trading strategy to another, you would deny yourself the opportunity of mastering a particular system (which would ultimately result in inconsistency and low performance). Building...
Consistency in forex is simply your ability to utilize a trading strategy regularly to produce a higher percentage of positive (and reliable) results over a period of time irrespective of market conditions. In this article, we’ll share simple things you can do to help you achieve consistency in your prop trading journey: 1. You must adhere to your prop...
In the last few weeks, the forex prop trading community has been hit by different unexpected news events and very sad stories. From MetaQuotes (metatrader) suspending some prop firms, to the abrupt payout denials by The Funded Trader(TFT), and its tragic crash or closure, it has been an unfortunate start of the year for some...
Fear is a powerful human emotion. It can push us to safety, it can also push us to dismay. But its disadvantages seem to outweigh its benefits. It pushes us more to take uncalculated and miscalculated decisions/actions that can bring us down. In forex prop trading, this is not different. When we operate from a place of...
