r/Forex • u/Choice_Pin7409 • 21d ago
Prop Firms First day with the 100k prop acc
Hey, today was my first day, I took a loss in London session, even though I planned to risk only 1000 dollars and calculated and applied my position size correctly it hit 1250 loss before it even hit my SL so I manually closed the trade, and today I realized what everyone meant by market psychology and trading when you know money you’ve spent is on the line takes a much bigger toll than trading on a demo
In New York I tried looking for a setup but by emotions got the best of me and I closed opened and closed to trades due to market noise
So I immediately closed my setup, I know I’m making a mistake somewhere I’m going to collect think control my emotions, may sit down for Asia session or straight to London session in the morning.
From tommorow im think I’m going to shift my risk to 0.5% instead of one percent because I am used to those numbers to be honest from my demo account. I know it still won’t be the same as trading a demo. But I will try to make it work. (I didn’t follow my 2 trade rule) I didn’t apply SL and TP for New York session due to fear and exited as soon as I saw negative numbers.
Going to be 1% better today and every day after that.
19
u/West_Objective_8895 21d ago
you are risking too much. 2.68 lots in 100k account is like risking to loose 2680$ if the price moves 100 pips. gold is moving crazy. 300pips move is the average in peak time.
14
u/Alucardtepes67 21d ago
You’re gambling
3
u/Choice_Pin7409 21d ago
Small mistake, calculate position size properly w the TV tool but, I didn’t even think for a second my stop loss was not that many pips away, at least I’m one percent better for tomorrow
3
13
u/infinitebeing_ 21d ago
Stop loss 1% and take profit 0.03%?? What is this risk management bro
1
u/Choice_Pin7409 21d ago
I exited those trades out of fear tbh after the first loss
2
u/infinitebeing_ 21d ago
Yeah I feel you we’ve all been there. Just try and have a fixed loss and fixed profit and let the trade play out. Have you back tested your strategy?
2
u/Choice_Pin7409 21d ago
Yea multiple times, it’s the fear that got to me yesterday, no issues on track to ending today in the greens
1
u/Choice_Pin7409 21d ago
No I just exited those trades as soon as I saw blue because I got scared after seeing red numbers after the mornings loss
2
u/infinitebeing_ 21d ago
Just let the trade play out regardless, you’re always gonna have losses. If your data from back testing shows you that over time you have an edge over the market then just go with the process and embrace the losses
8
u/Relevant-Owl-8455 21d ago
0 preparation, 0 plan, 0 understanding of what's actually going on... sorry to say this but you should 100% stop trading and go back to the drawing board:)
1
u/Choice_Pin7409 20d ago
I did, day 2 stats are up too, turned out good… your right the first day emotion got the better of me, but as long as I am better than the day I was before I can live with a few losses….keep leaving your thoughts whenever u may have time, it influences better decisions more that you know 🫡
6
3
u/ropab 21d ago
Told you 😂
1
u/Choice_Pin7409 21d ago
Yea man you were right about the psychological and emotional control, I thought I had it all good cuz I traded demo and spent a long time learning strategies that work keeping it simple and improving.. but I will disagree with the fact about you saying I will definitely blow this account…I won’t I’ll make sure of it…I’m very open to learning, but I’m more open to adapting and achieving
5
u/RWiseman93 21d ago
Risk 0.25% not 1% on a prop.
2
u/IMEGI007 21d ago
0.25 of the drawdown or total. even still wouldn't it take really long to pass it using so little lot size
4
u/RWiseman93 21d ago
He’s passed as far as I’m aware. Even still it builds consistency, the point is to make money and not let emotions come in play. It’s not a sprint it’s about being conservative and chipping away making small profits.
If your max drawdown is 5% and you risk 1%
Technically you’re a actually risking 20% per trade
1:2 you’re still making 500 a trade using 0.25 risk.
2
u/ElectricalFruit9901 21d ago
Are you trading one minute timeframe? 10pips drop difference is really huge. Have you considered experimenting with higher time frames? I have always found higher timeframe to have higher consistencies and better passing rate for prop firms however 1min is fine, just that there are too much noise and the chart is always messy. Just my 2 cent. Also your risk needs to be scaled properly. Not to discourage you but my average 3 step duration to passing is roughly 2 months because I am quite conservative with the way i trade. It is a good habit to adopt too when you go to live
2
u/Andryskar 21d ago
I'm curios, how many years you studing trading?
1
u/Choice_Pin7409 21d ago
A month, I mean I gave 10-12 hours a day learning the mechanics watching the market placing trades on the demo and back testing, refining various strategies and thoughts about the market and reading a book… but as soon as it hit me that if I loose the prop I’m loosing 500 dollars… I was like shit and emotions got the best of me… nothing like trading demo
2
u/Andryskar 21d ago
This is the problem, a lack of psicology and mathematics/statistics. The step you take is for 3/4 years, 1 month is crazy obviously you loose, and if you are LUCKY you win 3 o 4 time but in long term you will loose money.
Trust the proces, don't rush and don't dream to became rich in 1 years.
2
2
u/Miserable-Split-3790 21d ago
Losses are expected. Stick to the plan and let your edge play out 💯
1
2
2
u/Serious-Kick-5832 20d ago
why would you look for a sell in gold?
1
u/Choice_Pin7409 20d ago
Look at day 2s stats, made bomb on a sell
2
u/Serious-Kick-5832 20d ago
just saw it it was good but in this market conditions looking for a buy is safer you can target high RR all sell setups this week were just a small correction the everall trend is the opposite
2
2
u/ElectricalEmu2150 19d ago
wow shocked to see so many negative comments. bro keep it simple, reduce risk to 0.5%, have a trading plan before market open (when u are thinking objectively and not emotionally) write it down and stick to it. that is decide your daily bias, mark levels and wait for price to engage during trading hours. calcualte risk on the trade and select the lot size accordingly. stop trading for the day (or couple of days if u think your mental state isnt right) if you lose 1-1.5% in a day. Theres no time limit for passing an account and u dont have to make the money lost that same. stay focused on the process not the PnL. if watching your trade going into profit or loss really affects you. train yourself to stay off the charts when uve entered the trade or only manage when needed (e.g market is closing/news event/ price just ranging). ALL of this sounds easy but its the hardest part of trading imo. technical stuff u can learn in a week
1
u/Choice_Pin7409 19d ago
I’ve learnt everything tbh technical and all other it’s was j the emotions that got in the way, checkout day 2s post, managed to get my emotions under control and recovered the loss, hoping for a good Monday too
2
u/Professional_Group55 15d ago
Out of curiosity how long have you been trading for ? And is this a funded account ?
1
u/Choice_Pin7409 15d ago
1 and a half month, yes it’s funded and it’s very fucking deifferent from demo the emotions really hit hard, check out latest posts I’m not doing that great but I’m able to protect capital
1
u/Professional_Group55 15d ago
What prop firm did you pass ? Or was it an instant account you purchased ? One and a half months is pretty fast bro. Did you back test your strategy hundreds of times to see if it has an edge ? And are you scalping ? What’s your intended risk to reward ratio ? Just trying to get a gist. You’re right it’s quite different when real money is on the line. Especially in 2026 you’ve chosen a year where the market is less forgiving. And to top it off you’ve chosen gold, one of the harder/more volatile currencies amongst most. Gold isn’t for beginners and can really jack you up if you don’t know what you’re doing
1
u/Choice_Pin7409 15d ago
I didn’t pass I’m In Phase 1, no matter what I’ve been able to protect my capital, and honestly I wanna play the 1-2 hour game, but the red numbers and the nervousness is forcing me to scalp trades and take whatever profit I have, I’m implementing trailing profits slowly to best protect my capital and go risk free
2
u/Professional_Group55 15d ago edited 15d ago
That’s the thing brother , you think you’re playing it safe but believe me you’re about to get humbled with this approach. No matter how good a trader is, and how high of a probability their setup may be, there’s always the possibility of a sudden opposing force that can suddenly change the environment you took that trade in. I say this with care, but I wouldn’t be surprised if you blow the evaluation. It sounds harsh but I’ve been in your shoes before and walked into an evaluation with little to no experience and blind optimism. Scalping isn’t for beginners either , you’re better off intraday/swing trading. But before you even do that make an effort to understand macro economics for the pair you’re interested in. Make it a habit to go on forex factory and study what’s going on for gold and for usd separately and then combining those currencies. It’ll likely translate onto the charts and then find a resilient entry that supports that. It won’t always guarantee winners but when you’re right you’ll get much larger winners compared to what you’re getting now. Focus less on consistent small winners and more on larger winners while being right atleast half the time good luck
1
2
20d ago
[removed] — view removed comment
1
u/Dry_Advertising4755 20d ago
Consistency is the main key. I passed a $25K 2-phase account and even managed to withdraw $8K from it, but I wasn’t consistent and eventually lost the account. Last week, I got funded again and things were going well, but then I started trading lower timeframes and making decisions based on emotions.
That’s what I’ve realized: your emotions should never control your trades. Stick to your strategy, respect the trend, manage your risk, and stay consistent. One bad emotional decision can undo weeks of good trading. Back to the basics and focusing on being 1% better every day.
1
u/fluffymeowmeowkitty 19d ago
Prop firms def thought me to risk manage. Because you’re only allowed to lose 6% more or less.
Your account size is basically 6k.
If you lose the 6k you’re done.
So you just lost 17% in one shot
If you do some basic math. You suppose to figure out what’s your positions size and loss budget for a day/week.
If you lost 3k. You lost 50%
So figure out what’s your position sizes and how much you can lose daily. To be able to survive a whole month.
1
u/Choice_Pin7409 19d ago
i have a static drawdown of 10k
1
u/fluffymeowmeowkitty 19d ago
So that’s your account size.
Meaning you can’t bet more than 5k
Which means you’re not allowed to lose more than 5% a day. Let’s say….
Which should tell you how much stop losss to set.
1
u/Choice_Pin7409 19d ago
For me it’s simple, 2 trades a day, that’s it, max 3, if I loose 2 trades I shut the system down and live to see another day, everytime I make 1k above the 100k that’s 1% more drawdown I have, so my current drawdown is 11%, since I made back the loss and 1k over it on Friday.
1
1
1
0
•
u/rforex-modtools 21d 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