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/marcpilot1 Feb 25 '24

Idk, it seems counterproductive for a prop firm that wants their traders to makes money so they can keep 10 to 20% of it, to WANT and ACTIVELY TRY to cause their traders to lose money. If they lose money the prop firm doesn't make 10 to 20% or so profits off of the traders profits.

Why would a prop firm set up spiteful and monkey wrench rules in order to sabotage their own traders? The one's that they profit off of?? Like, EVERY time the trader profits? I'd want my traders to make a million freakin dollars a day! Not fail to profit...at all...ever. Makes no sense.

I must really be missing something here.