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Let's Trade $500 Like a Prop Firm Account (By ranaadnan4109779 )
The user has deleted this system.
Let's Trade $500 Like a Prop Firm Account Discussion
Oct 10, 2024 at 17:53
411 Views
3 Replies
Member Since Apr 12, 2016
16 posts
Oct 12, 2024 at 11:12
I will run this account for the coming years and see where I can get it to. This is not an account flipping or to impress anybody. It's just a reminder to my younger, undercapitalized self that If I knew what I know now, I would not need a considerable sum of money to trade. All I needed was a working edge and discipline to execute it with calculated risk. And it’s also a reminder to myself and everyone that if you cannot manage $500, how will you manage $5000 or $50,000 or more? Anybody who has ever shared their myfxbook on YouTube has done it after years of accomplishing something. I’m doing the opposite, as I’m doing it in real-time, so It’s a big test of my emotional endurance. Another thing is that most trading educators share their myfxbook with only %gain visible while keeping their $ amounts and risk mechanics private. Still, I’m keeping everything public except the open trades.
Prop firms usually offer a 10% drawdown limit, and when you are risking 1% of the account, you are essentially risking 10% of the available drawdown limit.
I am using the same analogy by risking 10% on every trade. I'm going to use the mentioned $ risk with the respective $ balance:
Balance Risk
$500 $50
$1000 $100
$2000 $200
$4,000 $400
$8,000 $800
$16,000 $1,600
$32,000 $3,200
$64,000 $6,400
$128,000 $12,800
$256,000 $25,600
$512,000 $51,200
And so on...
Prop firms usually offer a 10% drawdown limit, and when you are risking 1% of the account, you are essentially risking 10% of the available drawdown limit.
I am using the same analogy by risking 10% on every trade. I'm going to use the mentioned $ risk with the respective $ balance:
Balance Risk
$500 $50
$1000 $100
$2000 $200
$4,000 $400
$8,000 $800
$16,000 $1,600
$32,000 $3,200
$64,000 $6,400
$128,000 $12,800
$256,000 $25,600
$512,000 $51,200
And so on...
When in doubt, get out.
Member Since Apr 12, 2016
16 posts
Nov 21, 2024 at 14:16
So finally, after less than 3 months, I've got a 100% gain, with 47 trades executed (35% win rate), +747.2 Pips, commission (-$91.80), and max drawdown (23.01%). And all that with 10% risk per trade. All the trades are recorded and uploaded on YouTube ( ?si=TtXK1w4bqSS1H8An ep1, ?si=87qw4sUEQsoGlpuG ep2) except the last trade, which closed on 21st November.
Attachments:
When in doubt, get out.
Member Since Apr 12, 2016
16 posts
Jan 06, 2025 at 15:41
I have changed the system's name to "Emrging price action trading" based on my emerging price action theory. Because now, it's fully evolved and Now, I trade any session I want to.
When in doubt, get out.
Member Since Apr 12, 2016
16 posts
Jan 06, 2025 at 15:41
Here is the link : https://www.myfxbook.com/members/ranaadnan4109779/emerging-price-action-trading/11287581
When in doubt, get out.
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