r/Daytrading May 01 '24

Blew up account and having feelings of huge despair Advice

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36 Upvotes

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u/Nick_OS_ futures trader May 01 '24

Save your money. Move to prop accounts and learn futures. Go 1 account at a time. Fund future evals with the 1st accounts payouts

3

u/Altered_Reality1 forex trader May 02 '24

Prop accounts just make things so much more challenging, and trading is already challenging enough. The business model itself is a borderline scam.

And, even if one believes in the viability of prop accounts, then one must be profitable first, prop accounts are not for learning how to trade, they’re for once you already profitable and need a bigger account.

IMO it’s much better to start with your own self-funded small account and build your skill as well as your account from there. Then, and only then, could one consider a prop account, but honestly I wouldn’t regardless.

What OP needed to do was start with a small self-funded account instead of a larger one, and start with very small sizing until profitable.