r/Forex • u/greatflash26 • 2d ago
Questions do you guys think i should attempt a funded
so ive been learning since my senior year and currently have been more consistent with hitting profit but not sure if its just a line of luck
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u/Ambitious_Toe7677 2d ago
Just cause you’re wining trades doesn’t mean you can’t do it with minimal drawdown. Focus on that and update us. Good luck
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u/drilonishere 2d ago
Why not, if you can afford it. Try to go with a small one like 5k evaluation. But keep in mind it’s a big difference of real trading and demo trading, bcs emotions come in the way. Also I see you do not overtrade and that’s a good thing. Keep your loses small and let the winners run. Good luck!
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u/Khunoat169 2d ago
With all their new rules, prop firm might not be a right for you. I just had a $1700 profit discarded, because my sell limit that i set before bed was triggered 3 mins before the high impact news which violated their rules. Prop firm can be great, but it also put alot of stress on you, can't really look at the chart and set and forget anymore.
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u/HenrickAn 1d ago edited 1d ago
How can anyone give you any helpful advise based on a few handful, random trades? What I can say, or ask rather, is what is your logic behind taking half a lot on one trade and one or two lot on another? The smaller lotsize was also on a pair that tend to move less than the other. Is it because the smaller one was a longer term trade? If so, focus on one timeframe at a time if you want to learn to trade properly. If not, was it because you had different pip stop losses? If so, skip trades where you need bigger stoplosses. If neither was the case, you need to learn to position your trades properly. I can give you one more advise. You can easily answer your question yourself by starting a demo account and take 1,000 trades. Stick to using one type of setup, take your trades on simular times and on the same sessions. Skip trading through major news events and on major currency bank holidays. Use constant lotsizes. After you have done this you will get a lot of valuable statistics that can answer your initial question (are you profitable or not). As a bonus you will get a chance to further improve by analysing your trades further (how would changing stoplosses affect my profitability, do I do better on certain pairs, should I focus more on a certain time or day of the week and so on). Good luck!
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u/DrSpeckles 2d ago
Yes definitely. Get the smallest account you can, and use the tiniest lot sizes available. And go for a swing account that doesn’t have rules about news trading if you can. Don’t try and pass in a week, see how real trades, with real commissions and spreads work for a while, then scale up from there.
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u/Stock_Bath23 2d ago
I'm not speaking with a lot of experience, but I've just passed my phase 1 of funding, i think your trades are good, but your using too much margin and scalping very quick, i would say reduce your margin usage and hold the trades for a little longer time
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u/finalboop 2d ago
What percent risk are you taking on trades?
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u/greatflash26 2d ago
im going to be honest all of my time trading i stopped using S/L and T/P ive been on charts daily and go off individual charts and what i notice from each pair
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u/finalboop 2d ago
Without an exit strategy for profit or loss you’re setting yourself up for major heartache when the market turns on a dime.
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u/jaxenvisuals 2d ago
Is this a real or demo account? Note that demo account NEVER gives you the same result as a real account. You need to be sure about it.
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u/Responsible_Ask_4957 1d ago
Your doing well on risk management so do the best thing on your trading journey and buy a 100k challenge 8
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u/_octavia- 1d ago
Always ask yourself, "What would happen if I hit a losing streak?" Take your biggest loss and imagine a losing streak of that amount over say 6-10 trades. Where would your account be then? If you'll have lost more than half the account then something needs to be worked on.
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u/SmokeSuccessful4888 1d ago
You need to manage your risk .. your profits and losses are all over the place.. try risking 0.5% of your capital and book at least 1:2.. start from here before jumping into the action of funded as the daily drawdown is very harsh rule in this funded world.. best of luck in you journey we all know you can do it
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u/lostcanuck007 10h ago
No. You're over leveraging and gambling. You might pass the funded but they'll remove your account for various reasons. You took multiple trades UpTo 1 lot and only gained a 10, 20,30, 40 dollar profit or loss from it.
That is crazy and not trading.
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u/linkupforagoodtime 2d ago
You can at least try … and don’t do anything different all because it a funded challenge .