Best Prop Firm For New Traders And How I Would Start
Transcript
Auto-generated from the video audio — expect imperfect punctuation.
What’s going on Traders especially new Traders so a lot of questions that are asked on the live stream are what is the best prop firm to start with and my answer is probably going to be Apex Trader funding uh yeah so also in the description of this video there’s a coupon code to save 80% off and it is Cove Trader but yeah so the reason why I’ll go into all the reasons why Apex is probably the best one for new Traders
Um I’ll start off right away you’re probably not going to pass your first account so might as well go with a inexpensive account um you know compared to other prop firms uh these accounts are less expensive which kind of lets you you know you’re probably going to blow the first three to five accounts before you get funded at least so you know might as well practice on uh inexpensive accounts um you know it’s easy they have uh rhythmic or you can
Get a trade ofate account if you’re new you probably just get a trade ofate account and that’s a easy platform to uh to trade with and then people always ask me about account sizes um honestly if I was is brand new I would probably end up getting like a 150 or 250 account but trade one contract at a time um the monthly fee is not 537 right now you can get them for 40 bucks if you use my code um but
Basically you have a trailing threshold of $6,500 on the 250s and basically I would just trade one contract so basically if you did one contract and you had a a 15o stop loss which means you would lose $300 on every bad trade you would have to make over 20 bad trades for you to below the account which would give you a lot of wiggle room to learn to try new strategies out to learn the platform to to learn how to tr
Tra the the NQ um there’s a lot of wiggle room if you got a 250 account and traded One Mini at a time and this way it’s better than paper trading so you feel like you know you got some skin in the game you got a real account that can actually get funded but at the same time you’re trading it really small because you’re just testing out new uh new ways of trading and and getting your feet wet into the prop
Firm game so I would probably say the 250 Apex account is the best way to do it like I said you can get it for 40 bucks currently with uh the discount code Cove Trader and then come on my stream ask questions I’m live every day30 to uh 4:00 or so and ask questions ask questions about how you set up trade of eight I have a video about that how I set up all my indicators on trade of all the different
Things I trade come in the room ask questions if I don’t know the answer somebody else will um but yeah they do payouts their payout window is the 1st to the 5th and then the 15th to the 20th um I’ve been paid by them multiple times so I know they pay uh they pay myself out there’s there’s rules to follow once you’re funded about no uh no DCA no dollar cost averaging or you can do it one time um I trade
Most the NQ but you could trade es gold Bitcoin um oil uh yeah and you know you receive 100% of your first 25k which is nice um the consistency rule is 30% once you’re funded I mean this is a this is a pretty easy prop firm to start with it’s inexpensive and um a lot of people are using them so I would say I would get an account a 250k account um don’t get the rhythmic account CU then you got to
Download software and then if you have a Mac it’s even harder for new people so you’d get the trade of8 plan that’s the way to go and um yeah I mean that’s pretty much it everything about this is very newbie friendly and that’s where I started and that’s where I recommend everybody that’s new start is just Apex Trader funding it’s just an easy way inexpensive way to start trading prop firms and uh ask you know like I said comment on the
Video if you have any questions so I know a couple people have asked in the chat and there’s your answer guys all right I’ll see you on the live stream
Leave a Reply