Learn the strategies to consistent and profitable (forex) prop trading.
A professional trader is not defined by the number of trades he makes, but by his mentality, routine or habit. He approaches trading with discipline, focus, and a clear strategy. In this blog post, we will discuss six key differences between professional and amateur traders (how these two traders react to trading situations) and provide actionable...
To excel in prop trading, it is essential that you use a trading strategy. You should choose and adopt a technique that can work for you. There are several trading strategies to choose from. In this blog post, we will look at five popular strategies and highlight their advantages and disadvantages: 1. News Trading Strategy Trading the...
The risk-to-reward ratio (RRR) is one of the most important risk management strategies in forex trading. It measures the potential profit of a trade compared to the potential loss. A high risk-to-reward ratio means that the potential profit is much higher than the potential loss, while a low risk-to-reward ratio means that the potential loss is much higher...
The few minutes or seconds before entering a forex trade is as important as the trade itself. It is your opportunity to rethink. If you can ask the right questions and carefully analyze the situation or atmosphere, this moment can change the game for you. When prop trading, it’s crucial that you ask yourself some key...
A trading journal is a record of all your trades, including the strategy used, the outcome, and any observations or lessons learned. It’s an essential tool for any serious proprietary trader. Firstly, let’s look at why you need a prop trading journal: 1. A trading journal helps you track your trading performance A prop trading journal allows you...
Forex prop firm challenges or evaluation programs are a great way to prove your trading skills and get funded by a prop firm. However, to pass the challenge, you need to follow some rules. One of the most important rules is the drawdown limit I know RebelsFunding’s Diamond program has no daily drawdown, which is great news...
Risk management is the process of identifying, assessing, and mitigating potential risks in order to protect capital and ensure the long-term viability of a forex trading strategy. Therefore, to excel in your prop trading journey, one of the key skills you need to master is risk management. If you are good at it, it will help...
Backtesting a trading strategy is one of the most crucial things that prop traders can do to increase their chances of success. It can help you spot profitable trading strategies and stay away from unprofitable ones. This blog post will discuss backtesting in forex trading, its advantages, the various tools at your disposal, and how to interpret...
Forex trading is a venture that requires an analytical mind. It requires the ability to make rational decisions. But unfortunately, our brains are not always completely rational or objective when trading. Cognitive biases contribute to our occasional subjectivity. Cognitive biases are mental shortcuts that can influence our decision-making process. It often leads us astray in our...
As a potential prop trader, you may want to know what you stand to gain or benefit from transitioning from broker to prop trading. In this post, we will briefly outline ten significant benefits of becoming a funded trader. We’ll also shed light on why this avenue is increasingly appealing to traders and investors alike. Let’s begin:...
