If you are new and looking to get into prop firm trading or have been for a bit this video is for you. I pull the curtain back on what you need to know and how to treat prop firms going forward. Remember this isn’t gambling but rather utilizing a trade plan to earn.
Transcript
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Hey guys so today I’m going to give you the truth about prop firms if you like the video subscribe and I will keep giving you great content about trading and everything else so I’m just going to be honest with you prop firms are designed for you to lose the reason is so many people find this as a get rich quick thing they found somebody on YouTube Instagram or Tik Tok that’s making a gazillion dollars and it’s so easy and everything else
Um that’s usually not the case usually they’re making their money on you signing up but they’re not actually making money on the prop firms because when it comes down to making money on the prop firms you need to find a strategy that has real Edge to it um you know because there’s rules involved on these prop firms that are designed if you’re gambling you will lose you maybe will pass an eval here and there by going all in or something like
That but over time you will not get money it’s just simple because if you look at some of the rules they make you trade for x amount of days or you got to hit a certain profit Target or you can’t withdraw for 10 trading days and you have to trade for 10 trading days uh consistency they have these consistency rules where you can’t just go all in and make all the money in one day they basically make it so you are
Making real trades and making real money and it’s not a fluke it’s not something that you just jumped on and you know I got lucky one day and I pulled out $30,000 no they make it so you have to trade consistently good day in and day out with quality risk management and that’s it I mean it doesn’t matter really what firm one of the main firms that you go with obviously do not go with uh somebody that just pops up or
Somebody nobody is using because odds are they’re not going to pay you there’s plenty of Stories on Facebook groups and reddits of people that pass the evals they get the funded account it’s time for the withdrawal and they make up some reason on why you’re not going to get paid it happens you can go Google it RIT whatever you want look out on Facebook groups and you’ll see it I’ve seen everything from you know somebody signed in from their IP address
At their school and then they signed up at their IP address at home and it was two different IP addresses and they didn’t get paid it’s like they can find any little thing to not pay you they will and that’s why I don’t go to those um prop firms I stick with the the bigger ones that have been around for a while um you know I have videos about the ones I’ve recommended basically it’s Apex here that you’re looking at takeprofit
Trader um bull KNX TOP Step my funded futures um I know people use uh I think it’s ftmo uh fivers is another one um I don’t have accounts with those so I can’t come on here and tell you about them but I do know from looking and doing research that people are getting paid by that um I’m sure there’s other ones I’m missing if you know any just comment below and I’ll take a look but yeah I mean the truth is
Can you make money yes it are you just going to you know come on Slam contracts and make money probably not you need a real um strategy and I’ll be honest with you I I definitely I have a strategy but I would also say that you should get a strategy before you start playing with your own money with Futures this is a good uh place if you’re not looking to paper trade that you can also use these funded these eval accounts
Or funded accounts to test out different strategies that work for you that when you finally do get paid you can create your own uh Futures account and say e trade and then just trade your own money and you would make more more that way but this is a good place cuz argument sake you risk $50 here and you can in theory lose $2500 which is better than losing 2500 of your own dollars and testing out your strategy but you got to
Test out a real strategy you can’t just be like hey I’m testing out my strategy and when it doesn’t work I buy five times the amount of contracts to make my money back because that’s not how it works you know there’s there’s risk management if you want to test a strategy out you test it out buying one or scaling into into trades you know doing things that professional Traders do not gamblers these websites are set up to take money from gamblers
And there’s plenty of them out there and I’m just being honest with you if you’re going to gamble you’re probably going to lose on this most people lose it’s just I’m just being honest with you but the reason they lose is they don’t come in with a plan um you know a lot of people blow the first 5 10 accounts real quick and then they start looking at what the plan should be I I mean save your money watch some of
The videos that I’ll continue to put out and create your own trading plan and some of these you know you can get a really small account so you know just AR argument sake um actually bullnox is running a plan at $17 for a 50k so for $17 on on bullx you could uh you can get a 50k account I know it’s says 125 but the coupon code is uh get funded 90 and for $17 you can test your strategy out and
You can watch YouTube videos and do some research and study and then and you know you might blow One account you might blow two accounts but overall you will get the eval past as long as you’re following real rules that work and then you can get funded and then you can take money out that’s the way to do this the way to do it is slow and steady do not get 35 accounts and trade all these and you know go five
10 contracts in or whatever it is you know the I’ve done it I’m being honest with you I’ve done it I blew early on a lot of accounts just messing around because it it was what it was um but now I trade with my plan and it works and that’s what I would say to you because if you’re here to gamble you’re going to lose money and all these quote unquote influencers and things like that and showing you big trades they
Might have big trades but they’re making their money more on the affiliate side than actual trading side and that is being honest about it because that’s what I am I’m honest about how this works I trade um you know prop firms I trade my retirement account I trade a option screening account and even with all that I mean it’s it’s just you have to do all these other things to make you know know full-time money because it is what it is
You can have bad months you can have bad weeks um things happen in trading so you definitely I I spread it out with safer Investments um you know and secure my future because sometimes with the prop firms I’ll be honest with you I have I have a good strategy but then sometimes it it gets smoked and it happens you’re going to blow accounts you’re going to blow funded accounts everybody does it anybody that’s willing to share all their information online on
YouTube channels will show you that they blow funded accounts and they they blow eval accounts how I look at it is eval accounts are just away I don’t care if my eval account is up a th000 2,000 down 1,000 because there’s only two types of eval accounts ones that have passed and ones that haven’t so so that’s all I care about is passing so I take more aggressive trades to pass and then once I have a funded account is when I
Stick to my rules and basically um you know be very strict I have set of rules for my eval accounts as well but I don’t want to spend 10 days or 15 days to pass an eval cuz that’s not time worth it for me um I’m trying to pass an eval in 2 to 3 days um I follow my trading rules but instead of buying say one contract in my funded account maybe I buy three or four contracts in my eval
So I pass it quicker because I know my trading system works um but you know if it goes against me it is what it is I don’t want to blow funded accounts because that’s where you made your money um but yeah so I hope you got a little information about this and how to take it seriously so you don’t start wasting money come in with a trading plan and like I said don’t get it so hyped up where you don’t know
Which uh firm to use you know I use all five that are shown um I would just come in with a trading plan that’s the biggest thing um conform it to the rules of each firm that you’re going with some have the end of day uh trailing draw down some have intraday and kind of just work on that and that’s what it is I just want don’t want you guys to just gamble with you know I think it’s going to go
Up if you have to say I think and you know you’re just taking a Gamble and you don’t it’s not backed by back testing and forward testing then you should just you know save your money watch more YouTube videos read some insights maybe do some trading and then get a small account don’t get a 300K account you know get a 25 or 50k account and test your strategy and take notes when it doesn’t go well why what indicators were you using
Things like that and then kind of create a a trade plan um going forward but if you like this video like subscribe I have more content coming out thanks guys
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