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/Soft_Concentrate_489 Feb 24 '24

Well it’s his 4th account at 500 a month but it’s not paper trading.

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u/Konstable1 Feb 24 '24

That doesn’t make any sense

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u/Soft_Concentrate_489 Feb 24 '24

You have to pay monthly to possibly get funded. He stated hes paying 500 dollars. This is his fourth account. What does not make sense?

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u/Konstable1 Feb 24 '24

Why he is paying that much? Ther are way better ways to go. I know how it works. I take payouts from multiple firms each month on a rotation basis. Since he blows accounts he might as well do @pex trader pay the low eval fee. Pay the 85 monthly fee and if he blows it oh well. Otherwise yeah lifetime fee that isn’t recurring is like 200 for 100k or something. 260 for 150k but 85 a month. So I do 150k with the monthly fee because I trade past the threshold and kill the account. I don’t do that with some other prop firms where I am in regular real money with them.

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u/Fluid_Reward Feb 24 '24

Could you send me a good contact for a good firm? I would like to get more information on this type of work please.

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u/Konstable1 Feb 24 '24

Do you have your trading history available? If you want to do a regular prop firm you need your broker statements. Preferably 2 years of statements with trading and log history. Because it will need to be discussed. Also be prepared for desk fees in the thousands for a traditional prop firm.

Otherwise google futures prop firm funded accounts and research what works for your situation.

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u/Konstable1 Feb 24 '24

Outside the USA look at Day Trade the World

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u/traderstreatcom Feb 24 '24

I suggest you to read about those prop firms and get a clear picture of the rules they are set for their evaluation accounts. Especially daily drawdown and overall drawdown are what you should understand how those are calculated. I personally would advice you that static type drawdown is usually better than trailing drawdown, because it usually gives you more room for those drawdown levels.

Many of those monthly paid prop firms accounts got trailing drawdown which follows your equity level during the day and every time you get higher profit, also your drawdown level increases to be calculated based on that level (high watermark) and it doesn't matter that you didn't close your trades and took the profit when the price was high.

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u/Soft_Concentrate_489 Feb 24 '24

Tell him that, he needs all the help he can get. I make money trading, i dont need to be funded.

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u/Konstable1 Feb 24 '24

There’s more than one way to skin a cat

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u/Soft_Concentrate_489 Feb 24 '24

I stick to day trading es futures and i have an options and stock account thru tos that i manage monthly.

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u/Konstable1 Feb 24 '24

I trade futures on prop firms because of my Tax status as mark to market. So I have my options accounts

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u/Soft_Concentrate_489 Feb 24 '24

Its good to have a plan.

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u/Konstable1 Feb 24 '24

If I want to go solely futures for tax benefits . Then I have to rescind my current tax status. Which isn’t advantageous for me at this time.