There is no question that a prop firm is the best way to build equity. I am only implying that when the sphere is completely closed, a prop trader will need to take at least 3 months to come to terms with the fact that in such an environment the price of risk is not the price of buying a Challenger, but really -$1000 out of your pocket for an account size of $100,000.

Reducing risk, rethinking your trading approach, questioning your own beliefs and other challenges that most of us are not prepared for, and in fact, you need to start preparing now.

The attitude towards prop firms should be on fair terms - accept in advance the fact that all this is scam, because you are paid only at the expense of those who lost, and you are only in it as long as this system works. In case this line of business closes, you should have the appropriate skills and a plan of action to deal with your own capital.

Simply put, keep it simple.

#proptrading #riskmanagement #Simple #challenge #crypto

The essence of prop-firm is based on the concept of satisfying the needs or desires of a trader to quickly achieve his goals by realizing trade through non-existent capital. This is a deliberately losing concept for a trader, although it is the most accessible and popular for all traders in terms of building their own capital.

It's not the prop firm that "sucked" - you consciously chose to be deceived when you created an illusion out of ridiculous desires for big payouts and a beautiful life.

Call things by their proper names.

#proptrading #truth #lesson #academy #besmart

Patience is the key!

#patience #Consistency #academy #lesson #newbieorprofi

as the confirmation of my previous post, i'm expecting the price lower.

Difference between those who trading patterns and those who trading logic..

1st scenario - patterns. the reversal is high risk and low probability.
2nd scenario - logic. the price breaks the logic of short order flow and making a change. high probability.
#academy #lesson #logic #reversal #patterns

The large number of trading opportunities on LTF leads to a large number of decisions. When a trader encounters information on a chart that he understands, his thinking rushes to realizing the reward as quickly as possible. This is due to the phenomenon of hyperbolic discounting, which states that people prefer a smaller reward in the here and now rather than a larger reward delayed in time. A quick reward is easier to observe and experience, so it has a higher subjective value.

A market order in trading is a mechanism for bringing a reward closer in time, be it premature profit taking or impulsive opening of a position.

Market orders promote impulsiveness and gambling. If you only had limit orders in your toolkit, you would approach opening and closing positions more carefully and rationally, since these orders offer a more delayed reward.

#psycho #Education #academy #sscrooge #trading

Why is paper trading or demo account a pitfall?

Trading on paper does not cause the same level of stress when opening a trade as real trading. Therefore, such conditions are not indicative and do not contribute to effective learning and experience. The value of such trades is lower.

To have an effective experience, you always need to take some risks.

Instead of paper trading, it is better to use minimal risk, which will allow you to feel a little stress. For example, 0.25% is enough: 4 losing trades in a row in this case amount to only -1% of the deposit, but at the same time there are 4 mistakes, which, if you sort them out, you will gain experience.

#EducationalContent #AcademyCourse #sscrooge #demovsreal #tradesmart

As you can see in red circle - liquidity sweeps not necessarily provides us with the reversal.. only with local reaction.. That's why sweep is just the beginning of the potential context. Wait for valid reversals first to start looking for longs on a pullbacks in discount.

Overall we are htf Bearish and ltf locally bullish due to PWL sweep.

Be careful. Cheers!

#ETH #AcademyCourse #trading

Remember not to fall in a volatile Monday's trap. It's still not Bullish yet. Better to take it upper but with more confirmations and greater Order Flow, then to risk for nothing right now.

#btc #academy #trading