Tips to pass Prop Firm Challenges + get FUNDED!!

Trading a funded account is not that same as personal account!

Start with a small account if you are not used to trading with a large account size to get used to the size and lots

The rules of the funded account mean that you have to be extra careful with your trades so you do not breach your account and fail the challenge

Plan how you are going to trade your funded account:

• What strategy will be used

• What lot sizes will you use

• How risk will be managed

Strategy

To pass a prop firm challenge you'll need a proven strategy that either has a good risk to reward or high win rate

By the time you start trading with a prop firm you should have AT LEAST a 3 month record of consistency with your chosen strategy

Risk Management

1% risk per trade - most prop firms have a 5% - 6% daily drawdown for their phases so ideally 1% risk per trade is the best risk. I usually trade up to 1.5% risk per trade and stop at 3% maximum loss for the day

Keep losses small - reduce your losses where possible to protect your account and lose less than planned

Stick with the same risk - some people like to reduce their risk when they are coming close to the max overall drawdown.

I stick to the same risk for win/loss for consistency as my RR is usually at least 1:1. Using 0.5% per trade will reduce the time it would take for me to get out of drawdown

TRUST IN YOUR STRATEGY!!!

Psychology

• Focus on the process: follow your plan and dont deviate from it

• Try not to focus on the profit or chase money: this will lead to trading with emotions and mistakes

• Take account off pedestal: try not to think about what the account will do for you. It will increase the pressure

• Reach a decent percentage and stop trading account until you are eligible for withdrawal

PROP FIRM FACTS + STATS

• Traders lose their live account within 14 days - 3 trading weeks

• 3% make it to withdrawals

Become one of the positive statistics. Good luck!!