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Transcript
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What’s going on, guys? So, I’m going to go over one prop firm strategy, which might be the most important prop firm strategy that there is. Before I get into that, I stream live every single day. Be sure to subscribe below. If you have any questions, ask. Also, I have a link to a free Discord in the description of this video. And if you want to support the stream, be sure to use code Cove Trader. Works at every prop firm. I’m going
To just jump right into this. Um, one of the main strategies that any new trader should implement is gaining the most amount of time in the seat that you could possibly get. So, argument sake, you’re all going to relate to this. Say you start off and you got $500 and you’re like, “Hey, that’s my whole budget. I’m either going to learn how to trade or I’m not.” and say you’re able to get six or seven accounts at we’ll call it Lucid
Because I’m going to show you my example with Lucid Trading. Um, you know, you get seven accounts and you actually pass two of seven, which is not terrible, but say you pass two of seven and you get one of those two, you get the five days of $150 or more. and say you’re up $1,200. Everyone asked me on the live stream, do I take money? Do I go for the big payouts? Listen, this is my screen. You take the money because
What [clears throat] does the money give you? The money allows you, if you pull the 650 bucks out, which I did in this this account, right? Um, it allows you to buy another set of seven accounts. And what does that provide you? It provides you time in the seat, time to hone your skills. In the beginning, it’s not about making the money. Yes, you want to make money, but it’s about getting more time in the seat, honing your strategy where you
Can get more of, you know, uh, a profit, you know, curve like this. It’s more, you know, every day you’re just being consistent right now. Yes, people are going to say, “Oh, well, your draw down, you have only a $550 draw down.” All I do is probably trade I’ll probably trade half size. I’ll probably end up making 150 bucks on Monday and I’ll just get out of this buffer and I’ll get the buffer to maybe 900 bucks and then just trade
Normal size. I don’t take big draw downs that, you know, I trade gold with this. I’ll probably I think I’m guessing this is win rate here. So, it’s 100% 100 79 70. It’s about right in gold. I’m not I’m not worried about it. And that’s because I’ve had time in the seat. I think the newer people are going for these big payouts. How many times have you said, “Hey, I could take a payout and I’m going to go for a bigger
Payout.” And then you get zero dollars. Now, if you’re a new trader and you only have $500 to play with and you make it to here where you could pull out 600 bucks, $700, and you say, “I want to get a bigger one, and you end up with no payout.” That’s it. Your trading dreams are done. You’re you’re over with. Instead, you could take the money out. Now you have the money to buy another seven accounts and you still have the
Funded account with yes it’s a smaller draw down but you still have it size down work yourself out of this create another buffer and now you have money for the other accounts plus this one. That’s the one thing I’ll say is instead of worrying about the big payouts in the beginning, everybody should be asking themselves, how do I get the most time in the seat, the most amount of trading days to continuously learn, continuously trade and build your craft. And that
Is what I’m saying you guys should do. And by doing that, it’s taking the payouts as soon as you can. As soon as you get over the buffer, take the payout. Same thing. Take profit trader. Once you’re over the buffer, take out the $300, you know, take out whatever you can. As soon as you’re able to take money out, you should take money out. And that just prolongs it keeps you in the game going without digging into your pocket. And and
That’s what it’s about because once you have so much experience, you should be more consistent. And then you shouldn’t have uh you know going back in your pocket for more and more and more. It should be more of a you know a P&L curve that’s kind of just slowly up. Yeah, I take losses. Yes, I’ll have a red day, but the majority of my days when I’m trading gold are green, and that’s just the fact. And I’m I’m not worried about
These draw downs. And yes, you might go on Monday and lose it, but what do you got? you have the money from them to reby six or seven accounts that you can continuously get better and better. Maybe instead of two accounts you pass, you now pass three accounts and maybe you take two to a payout. One, you get another payout of 650. So now you got the money to replenish the accounts. And then and then maybe the other ones you kind
Of you push it, you know, and you push it. You say, “Hey, listen. I’m going to trade these and I’m going to see if I can get a bigger payout. You know, it’s the strategy within, you know, the prop firm game. And the idea is to keep you going as long as you can to get better at this and that’s all instead of just churning and burning. you’re you’re trying to stay in this as long as you can because everyone has
A finite amount of money that once they hit the uh you know maybe if you lose 500 bucks you’re gone. So doing it this way allows you to stay in the game and get better at the craft without um just blowing up. But yeah, I mean I just want to throw this out. People ask me every day on the stream, are you going to take that? Are you going to build more? Are you going to get max payouts? Max payouts. I
Just took three max payouts from Apex. I had to, but I did. Um, you know, now I’m going to grow this for a bigger payout. But I just want to share that one strategy with you. If you have any questions, feel free to ask.