Came across this thread here about "institutional" prop firm. I'm always interested in leveraging my trading, so I thought I'd give it a try. But I don't want to go through the typical funded evaluation crap. Raen requires 20% target, 2% DD, 8% max. I think it's crazy difficult. I'm going to trade my way, and submit the 24 months track record to them starting this month. "But I need larger risk allocations for my strategy" Then the Assessment may not be your optimal path into Raen—and that's perfectly fine. We actively recruit experienced traders with established track records through separate channels. If you have a verified 24+ month performance history demonstrating your approach works with larger risk allocations, please submit it directly. I abandoned my bot after it started to fail quite frequently (at one time 50% swings). Started to manually trade and got it to 50k. Now I'm trading manually and been withdrawing all profits weekly. I'm using renko chart adjusted for volatility with few momentum indicators. I'm basically just manually scalping momentum. Targeting around $500 daily with $3000 max DD. Will post charts here and there just to keep journal active. PS: Withdrawing weekly does WONDERS to my psychology. I usually want to grow my account up quickly in the past, but I always end up screwing that up in the end. This method keeps me focused for the week. Maybe after 1-2 years, I'll grow this (to maybe 150k). If Raen Trading works out, maybe can scale even higher.
i think there should be a category "WHY" use a prop? we have micro contracts that cost so little and there is nothing like real skin in the game. also i knew you would abandon that bot or i was going to become your investor if you didn't lol doing great congratulations btw
Good Morning hilmy83, Great work and I am VERY proud of you sir. You are doing Great as a Day Trader! Have a Great Day sir!
Timing is everything. I know that sounds very cliche but so true. And risk vs reward is directly correlated. So refine your understanding and process but don't shy away from going after the big score loot treasure. Because playing it safe is dumb and boring and impotent in life. Do you want Dumb Boring Impotent written on your gravestone?
Trying is good great. But don't pursue something just to try it casually like a tourist. Learn to think differently, independently. The way something is observed. If you were to buy just another trading book out there on display...chances are you'll just fall flat on your face. And that would be the end of your trading journey adventure after you have depleted your account. And invent your own rules. Don't follow standard lists.
My intial target is based on some % of the range. When I lose, i target loss+initial target on the next trade with same size (used to be where i scale up on size). So in a losing streak, my last trade tends to be a longer hold aimed at day's high/low (until i hit 5 max streak) I read that I should break it into smaller trades, and treat each setup independently. If i keep extending the target after losses, my probability of profit will diminish. But seems the market is agreeing with my apprach
Make sure to take the time to think about your processes, random wins losses, dissect things, question things, observe things...and you'll gain higher quality wisdom, perspective and lessons. Don't just follow an average trading book course out there like a robot dog. Learn to think for yourself independently, using your own hunting angle understanding wisdoms If you truly understand this, can digest this, you'll be so much more better off than 99.4% of traders out there
Tradingview sometimes does this when target fills a partial, it just left a naked position. I had to close it manually (1 lot left open). Bracket order should just exit the position at same price treating it like a limit order. They still haven't fixed this bullshit