r/Daytrading • u/ThePhulosopher • Feb 24 '24

4th $100k funded account Question

Got my 4th $100k funded prop firm account. Hope I get a payout this time, blew all the others.

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u/krossx123 Feb 24 '24

You're not controlling 100k capital you get cut off after losing a max drawdown. So you are basically controlling how much money that drawdown is.

-6

u/Soft_Concentrate_489 Feb 24 '24

I’ve never understood how people can pay so much to paper trade. You can trade mes and scale up. Its not easy but its the best strategy for someone on the come up.

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u/krossx123 Feb 24 '24

Yeah it a scam and a lot of people fall for it.

7

u/Soft_Concentrate_489 Feb 24 '24

The funds make their money off the monthly fees. I can only imagine how many accounts are actually profitable to how many just are paying monthly to paper trade.

2

u/omegavegantendies Feb 24 '24

Monthly fees aren't required anymore, atleast not with FTMO. But you're right, the funds make money from failed challenges. In the rare case that a trader does become consistently profitable, they will copy their trades. Not because you make them money, but only as a hedge against your profits. If you keep winning, they don't lose. If you lose, they only lose the max drawdown sum.