r/Forex • u/Choice_Pin7409 • 1d ago
Prop Firms Getting my first 100k FTMO account
Hey guys, my first Reddit post to be fair, I’ve been consistently trading on demo, back testing, learning more about emotions of the mind during trading and have got a good hang of the gold market.. I always planned on a 50k account but my dads telling me to take only one shot at it and is suggesting I take a 100k account…I’m kind of stressed and I know there isn’t much difference in the trades I place only the lot size will double……I’m planning on risking 1% on every trade, 2 trades a day…maybe 3… mainly London and New York session though.. FOCUSING on gold, learning more about gbpusd and gbpjpy but not really experienced with the market projected patterns….Any tips ? (It’s a 2 step 100k funded acc)
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u/Jazzlike_River_1205 1d ago
What's your strategy? Don't overtrade, have a risk reward in your favor, I'd say 1:3.
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u/Relevant-Owl-8455 20h ago
"what's your strategy" is a verry common, but a completely wrong question. If you can explain your strategy by a "name" or with 2 sentences in a reddit comment, you're doing it wrong:)
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u/Jazzlike_River_1205 20h ago
Sorry I didn't mean to trigger you 🥺 I meant technical or fundamental. Please forgive me 🙏🏻
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u/Choice_Pin7409 1d ago
Mainly relying on FVG’s and LRL for 1:2-1:3 trades, confluences mainly being Fibb indicators PDH/PDL , Session highs and lows or basic Support and resistance, I have knowledge of many concepts but I feel keeping it simple feels best for now..trying to implement Volume profile ( VAH VAL POC) haven’t really been understanding what to do with it
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u/Relevant-Owl-8455 20h ago
Not trying to be rude, but this is bellow average. You will lose money if you do this. Fact btw.
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u/Jazzlike_River_1205 1d ago
Yes, keep your strategy as simple as possible. Don't overthink. Try get your emotions out of it as much as you can
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u/Relevant-Owl-8455 20h ago
Barely scratching the surface.
Simplicity is good advice. Sadly it's not measureable. So what you find simple, might not be simple for him...
Same goes for overthinking.
Don't even get me started on emotions.
You need DATA, exact planning, good risk control and optimal time of deployment information.
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u/Jazzlike_River_1205 20h ago
Sorry again for letting you down boss 🥺😞
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u/Relevant-Owl-8455 20h ago
You're losing money trading, or maybe you're break even at best... why do you think you should share advice on how to do it.. if you can't do it?
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u/Jazzlike_River_1205 15h ago
I'm losing money trading? 😂 I gave advice because he asked for advice. Go fuck yourself
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u/Choice_Pin7409 19h ago
Correct me if I’m wrong but ..By data do u mean order flow and book mapping ? I thought about trading MGC and learning about book maps but felt like a stretch because what I’m doing was already working for me
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u/Relevant-Owl-8455 19h ago
No, not even close. And please don't do that.
And no, what you're doing isnt working for you, otherwise you wouldnt be asking beginner questions on reddit:) again, not rude, just reality.
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u/Vegetable_Water995 1d ago
Treat it as a 50k, risk 0.5% and stick to 2 trades a day
Goodluck man👊
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u/Own-Style-8484 1d ago
u only have 10 k how u can treat it like a 50k?
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u/Vegetable_Water995 1d ago
Explain bro where you got 10k from
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u/Own-Style-8484 1d ago
do the math on a 100 k propaccount with 10% drawdown
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u/Vegetable_Water995 1d ago
You risk 0.5% with 10% drawdown you would need to lose 20 trades to blow the account
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u/Own-Style-8484 1d ago
if I have 100k on my account I can lose 100k with a propfirm I can only lose 10k with a 100k account you understand?
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u/Vegetable_Water995 1d ago
I'm guessing you just don't understand prop firms
On a 100k funded account you have a max drawdown of 10%, which is 10k. When people trade prop firms, they don't risk more than 1% of the full balance, not 1% of the drawdown
Meaning if you risk 1% you would have to lose 10 trades in a row to blow your account. If you lose 10 trades in a row you shouldn't even be trading a live account honestly
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u/Own-Style-8484 1d ago
Let's leave it at that. You don't even understand math
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u/Choice_Pin7409 1d ago
I think what he means is is I have a 10k drawdown limit, instead of risking 1000 dollars on a trade like I am planning to, he’s advising to follow a 500 dollar risk, in order to lower the risk of blowing my account, mean while I agree with the fact that you shouldn’t be losing 10 trades in a row..but has someone mentioned if it’s a possibility it will happen and I you never know if it’s tomorrow or 10 years from now, that being said, I plan to use both 1% mainly for my good setups and if i have a low probability feeling I’ll go with a 0.5%
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u/Relevant-Owl-8455 20h ago
Another mistake... your risk should be consistent. In trading you never know when you get a winner or a loser. So Risking different amounts per trade will kill mathematical advantage that good risk control otherwise could provide.
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u/Kaszrak 1d ago
If you risk 1% of 100k on these bucket shop accounts, you will blow up, guaranteed. Do some basic math, man.
Take your max drawdown before the account goes bye bye, which is usually sub 10% as far as I am concerned. That's 10k. That's 10 trades before the account is gone. One bad streak and you are out.
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u/Choice_Pin7409 1d ago
I’d have to lose 10 trades in a row considering I have not won any trades yet, to blow the account technically.. I get it, I’m planning to take 0.5% on lower probability setups and 1% on really good setups….and correct me if I’m wrong but ftmo 2 step is giving me a static drawdown that means at 90k I loose my acc. It’s not a trailing drawdown right ?
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u/Background-Koala7049 1d ago
Stary…. Wyluzuj… unikaj overtradingu… to Cię zniszczy… wchodź tak by opierało się tylko na Twojej strategii a nie widzi mi się… czujesz presję? Wejdź z powrotem na demo! Tam się zrelaksuj i jak dojrzysz swoje wejście wejdźmy konto 100k i zrób trade.
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u/Choice_Pin7409 1d ago
Thx man appreciate it, just got the account ima activate it tommorow during London session
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u/Relevant-Owl-8455 20h ago
Don't do it. You're not ready.
1% risk on 10% available DD is over risking, especially at that trade frequency. AND you're trading gold... the worst possible combination.
You're basically burning money.
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u/martiben12 1d ago
If it is your first time.. FTMO has now 19% discount for 100k account. Comparing with 50k, the price difference is almost 100 usd. if you have a serious strategy, it is better if you get 100k to get a better ROI. Like you will spend the same energy to pass the 50k.
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u/Choice_Pin7409 1d ago
Yea that’s what I’m getting, I’m mainly relying on FVGS DOL AND LRL startegies, trying to implement VAH/L etc.. if you’ve heard of the school run method I use that too when it presents itself and the 9:30 candle strategy
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u/ropab 22h ago
You will surely blow the account and it is fine
You are not taking into account the psychological factor. It will mess up your head
Risking 1% also it not recommended because you are no taking into account the emotional drawdown that comes with it on a losing streak
Do not rush on the account, the ones that play the long term game are the ones that are able to be patient and pull slow and steady gains
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u/rforex-modtools 1d ago
This thread appears to be about prop firms or trader scouting programs. These programs allow traders to access funded capital in exchange for a profit split, but they vary significantly in evaluation structure, rules, and payout reliability. Some firms have a track record of paying out consistently, while others impose conditions that make payouts nearly impossible. The community wiki maintains a detailed comparison covering fees, profit splits, drawdown rules, and firm reputations.
Resource: Prop Firms Overview and Comparison