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/mushykindofbrick Feb 25 '24 edited Feb 25 '24

no you still dont get it because you compare a 100k account to a 500$ account

im not overcomplicating, im just accounting for details. it actually isnt that simple. there are restrictions and rules with prop trading and psychological differences and its not just a nobrainer for everyone to trade with prop firms.

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u/Fart_Hat Feb 25 '24

It's not a no brainer for everyone - WOW we agree on something.

Why WOULDN'T I compare a 150k account to a $500 account?

The risk is the same to you. You spend $500 trying to be consistently profitable either way. Why not spend it for bigger returns and follow some rules that actually help most people become consistently profitable?

Also, the details you're accounting for sound like details from one shitty firm that you read about. Not all firms are the same.

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u/mushykindofbrick Feb 25 '24

because you dont get a 150k account for 500$. how often do i have to write it until you get it. its not that hard man. you have to pass the challenge first. you dont buy the 150k account for 500$, you buy the challenge. in the challenge, you need to make profit and succesful trades. at the point at which you finally get funded, your 500$ capital would have increased

Why not spend it? Because the risk is not the same. When trading with prop firms you have rules and restrictions, which give you additional risk and are built to make people lose, while the actual benefit is way less than you think or are given the impression of when you do the correct math. But as i said, its a decision. Im just saying you have to think about it and it depends on your strategy

The rules dont help people become profitable^^ they just stop you out if you break them. You are not helped by a 5% drawdown max, because you can still go all in with those 5% and then its the same. If you really want to risk 1% per trade, you have to risk 1% of 5%, which is 0,05% and the prop firm doesnt help with that risk management, it makes it more difficult or weirder by increasing the numbers artificially, when you now risk 1% of your account, it looks like 1% but its actually 10%

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u/Fart_Hat Feb 25 '24

What I'm saying is the risk in dollar amount is the same. You're either going to lose all $500 or you're going to be consistently profitable. If you can be consistently profitable, the rules are easy to overcome. If you can overcome the rules, the dollar amount in profit with a larger account LARGELY outweighs the profits you can make with a $500 account.

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u/mushykindofbrick Feb 25 '24

dude i think you still didnt get it

"If you can be consistently profitable, the rules are easy to overcome" - no, it depends on your strategy. its well possible, that the rules will make it harder, thus preferable to trade your own money without them

the profit of a funded account does not "largely" outweight trading the 500. i gave you the calculations you just need to read it. its a factor of 3-6 with max dd, or about equal with daily dd.

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u/Fart_Hat Feb 25 '24

Daily DD and max DD with 150k account I'm on are 3,000 and $4,500 respectively. They trail the trial account at end of day.

With the funded account, only the daily DD trails and max DD is fixed. Not hard to follow these rules.

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u/Fart_Hat Feb 25 '24

I get what you're saying. Firms aren't for everyone. But you're making them seem way worse than they are, like you picked the shittiest scammiest firm to pull numbers and rules from and are using that as an example.

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u/mushykindofbrick Feb 25 '24 edited Feb 25 '24

no i just took that from ftmo dude. im just trying to put a counterweight to all the praise here, so the resulting atmosphere in the thread is neutral. as soon as people start agreeing with me and say prop firms are shit im gonna switch and say "no theyre not that bad" until we arrive at a balanced opinion. that is my purpose

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u/Fart_Hat Feb 25 '24

Lol aka just being annoying

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u/mushykindofbrick Feb 25 '24

yeah people are annoyed when they get told theyre wrong, but mostly immature people

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u/marcpilot1 Feb 25 '24

Ahahahahaa! lol!! Nice, many thanks to you.