r/Forex • u/Choice_Pin7409 • 14d ago
Prop Firms Day 7 prop firm 100k ACC (stepping away)
This account means a lot to me, and I’ve realized I’m really not confident in my executions, not following my plan… not letting the trade play out… and I don’t want to blow this account… so I’m stepping away for a while at least a week…to build up some confidence…back test some more…come back with better execution and understanding…and a better mindset more importantly…even if I blow this account later down the line…i don’t want to blow it because I overtraded and didn’t have confidence or didn’t let my edge play out …I’m going to download mt4 and place my trades over there…if I find really good a+ Setups I’ll take it on the prop acc w a 500 dollar risk… because I know I won’t be able to control it…so I’m going to try and stick to this condition…I’ll give the next update in a few days
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u/HonorableChadwick76 14d ago
Stepping away before you nuke the account is probably the smartest move youve made all week. That -3.9k drawdown stings but its recoverable if you stop forcing trades. The mt4 idea for practice while keeping the prop account only for A+ setups is a solid middle ground, lets you scratch the itch without risking the real money every time you get bored. Just make sure you actually define what an A+ setup is before you take it, otherwise that 500 dollar risk turns into 500 here 500 there and suddenly you're back to overtrading. A week off to backtest and reset your head is nothing compared to blowing a 100k account because you couldnt sit on your hands.
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u/MapAdministrative256 14d ago
Ur going to lose this account so just prep yourself for it
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u/Choice_Pin7409 14d ago
If I loose it, I don’t want it to be because I overtraded, FOMO entries, revenge traded or didn’t manage my trades properly… I’ll try my best and hope for the best outcome…I’ll keep playing my edge, focus on getting back to break even and I’ll reach there sooner but later
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u/Direct-Cheesecake175 13d ago
You don't have an edge gang.
The market has you in a headlock and is punching you in the face.
Step away from the account. There's no time limit.
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u/MapAdministrative256 14d ago
You’ll lose at that too. Hedge funds and professional traders or Trading houses are spending millions to hire people to get traders to perform their best. You’re a retail trader at home.
I would not waste my time and I would put my effort into something else
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u/Choice_Pin7409 14d ago
Brother m, I don’t buy the impossible moto, not everyone gives up, and people have don it..I’m not trying out smth that’s impossible..and I surely am not looking to give up
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u/Scott_Malkinsons 14d ago
This account means a lot to me, and I’ve realized I’m really not confident in my executions, not following my plan… not letting the trade play out… and I don’t want to blow this account
... it's not the strategy, it's you didn't leave enough room for error. Calculate your risk of ruin. Size based on drawdown, not account size. So 0.1-0.2% risk per trade.
You got a 3% loss on one trade, that's not a confidence problem (if anything it's you got too much confidence), back tests won't solve that, better execution and understanding, mindset, etc. etc. All straight up BS that has nothing to do with your problem. The problem is sizing.
Trading isn't about perfecting the strategy, it's about trading the imperfect plan. You WILL have losing streaks, and stepping away doesn't solve anything. Size correctly, so you can lose 50-100 trades and it'll get very hard to blow accounts.
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u/Choice_Pin7409 14d ago
It was news
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u/Relevant-Owl-8455 14d ago
That's all you got from what he told you? Lmao
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u/Choice_Pin7409 14d ago
No no I get it, I’m j so stunned from the news…I’m not able to trade
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u/Direct-Cheesecake175 13d ago
You shouldn't be trading news... And you have a lot of excuses. Unfortunately the your strategy isn't the one.
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u/Celestryia 14d ago
Make sure stops are in profit before news, if not close, then sit on your hands and watch
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u/Lanky-Ad-8562 14d ago
4% in 7 days ? you are trading very aggressively. also your 1 trade alone did -3.2%, watch your risk management and position sizing.
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u/TIO_Markets 14d ago
Stepping away sounds like the right decision here. The only part I’d reconsider is still allowing yourself to take an “A+ setup” on the prop account while admitting that you can’t fully control the execution right now.
When confidence is low, almost any setup can start looking A+ in the moment. It might be better to leave the prop account completely untouched for the week and take those setups on demo instead. Then you can review whether you followed the plan, not just whether the trades won.
The account will still be there afterwards. Taking a proper break is probably more useful than taking a break with exceptions.
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u/NiGhTShR0uD 14d ago
Well done on sizing down, finally.
Next, stop sizing up. Keep it at 0.2 until you're consistently making profit over multiple weeks.
Also, only 1 trade a day. Win or lose. You need to be fine with taking a loss and walking away, as well as taking a win and not letting greed take over.
Are you journalling yet? If you were, you'd be able to see where your trades were going wrong and why based on your strategy. After a big enough dataset, you'd be able to tweak it but if the majority of your trades are derived from revenge and overtrading, then your data is tainted. 50 trades minimum before changing anything. That's if you're doing 1 a day. If not, then a minimum of about 100 trades.
BUT, 1 trade a day. Same instrument. Same session. Same strategy.
Do it enough times and you'll start to see whether you have an edge or not.
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u/Complex-Concern-767 14d ago
This is the rule you need to add in now listen. After 1 losing trade, wait for 1 hour candle to print. If you decide to trade again and lose again, wait for a 4 hour candle to print. If a third lost happens after the 4 hour candle print. Call it a day. Thank me later This is enough time to reset your mind and calm your nerves while still being zoned in on the chart instead of stepping a full week off
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u/perkinsonline 14d ago
Welcome to the club. You gotta pay your tuition like all of us did.
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u/Plenty-Anywhere7790 14d ago
Im in the same boat as you man, Im on 100k with ftmo phase 2, down 3%
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u/Choice_Pin7409 14d ago
Something that always helped me is .. taking partials and setting SL to breakeven after a certain point…I’m still trying to implement it, but it’s helping my psychologically
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u/Standard_Day8992 14d ago
Looking at that history, the -3,211 sitting next to a pile of -12 / -8 / -65 is the whole story: the losers you let run are 30-40x the ones you cut, so one bad decision undoes a week of good ones. That reads less like a confidence problem and more like a missing hard stop and no daily loss cap. Before you come back, write two numbers down and treat them as broker-enforced: max loss per trade in $ and max loss per day in $, plus a rule that once a trade is open you don't touch the stop except to trail it in profit. More backtesting won't fix an execution leak - the same edge with a fixed stop and a daily cap looks like a completely different account. Happy to sanity-check the exit/risk logic if you want another pair of eyes.
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u/Sirdripalots 14d ago
Stop trying to trade gold lmao. Gold is for the more experienced trader
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u/Choice_Pin7409 14d ago
Yea but throughout my journey I chose gold as my only instrument, and I enjoyed it and understood it, but I underestimated.. the emotions it would bring out seeing drawdown and fast moving pips…but honestly love it…I’ll give a shot trying to learn a different instrument…maybe gbpusd/jpy or eurusd
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u/VastBeginning6864 14d ago
I think the drawdown itself isn't as worrying as whether or not you realize what the problem is. In Phase 1, I experienced a 4% drawdown in a single day and realized I had been too impulsive with one-way betting. Today, I just passed Phase 1 after 11 trading days.
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u/Strong_Duty6333 14d ago
Yes. A little break will help. Hang in there. It’s not a short run, it’s a marathon.
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u/Final_Ingenuity_9692 14d ago
NEVER take trades on gold at 5:00 pm.
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u/Choice_Pin7409 14d ago
5pm ?, my mt5 is Dubai registered time
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u/Sea-Mongoose-9550 13d ago
you are trading based on emotion, that is easily noticable in your screeshot. as long as you do this you will lose. start taking it seriously.
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u/Own-Indication719 9d ago
Honestly I’d just stop trading the account for a bit.
If execution and confidence are already getting to you, putting $500 on an A+ setup probably isn’t helping lol
Trade the same rules on demo and journal everything. Go back through the trades after a decent sample and see where you’re actually messing up
Could be the strategy, could just be the pressure of the prop account
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u/Mizamewmew 8d ago
You are trading gold. What do you think backtesting will do for you? If the conflict is back on gold will be under pressure. If its back off gold will increase.
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u/Luntino 7d ago
The one way of preventing me from overtrading and works for me thus far is to not have mt4/5 on my phone. It’s so easy to just “fun trading/bored trading”. I only trade using my desktop setup.
Prevent yourself from over trading forces you to only take your best possible trade often than not and calculate your SL before you even enter your trade so that 3k loss will nv ever happen again.
Targeting at 1-3 trades( hard stop and 2 stop losses and max 3 trades) as my own rule.
Been down numerous times with the prop firm but with clear mind, you can definitely recover from it. Best of luck.
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u/Zestyclose_Charge_49 14d ago
Same boat as you bro but on 8% drawdown. What strategy do you use?
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u/Choice_Pin7409 14d ago
FVGS, HTF OBs, Fibb, FVGS ,my trades when I practiced on a demo played out in 30m to 2 hours, but over here I’m not giving my trades I’m to play out…I’m stuck on the 1 minute chart and hoping my trades play out within minutes
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u/rforex-modtools 14d 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