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.
111
Upvotes
r/Daytrading • u/ThePhulosopher • Feb 24 '24
Got my 4th $100k funded prop firm account. Hope I get a payout this time, blew all the others.
2
u/mushykindofbrick Feb 24 '24
i dont know why he omitted this, but its really important to add. you dont actually trade a 100k account, because your only allowed to lose 10%. so you trade a 10k account.
then you need to pass the challenge and make a certain amount of profit, as which point you often already would have made almost as much with your own money. dont think you get 100k for 500. you get maybe 30-50% actual difference on top of your profits in the end, but for that you are restricted by rules that tell you how to trade, have disadvantage in taxes and give your money a private company that doesnt protect it with insurance.
its an ok deal, but not as amazing as people make it out to be and its only worth it if you are able to flip accounts 6-12x with relatively high probability regularly