Take profits - page 2

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I have to ask this, and this is not "being funny" about it, but a genuine concern ...

Why do people take on prop-firm challenges when they still barely understand the basics of trading?

Prop-firm challenges are difficult even for seasoned traders, so what makes a inexperienced traders so confidant that they will succeed with them so easily?

You will only be throwing away the entry fee. Instead start with a demo-account and practice until you are sure you can achieve the challenge requirements.

Articles

Take a few lessons from Prop Firms (Part 1) — An introduction

Fernando Carreiro, 2023.04.19 16:20

In this introductory article, I address a few of the lessons one can take from the challenge rules that proprietary trading firms implement. This is especially relevant for beginners and those who struggle to find their footing in this world of trading. The subsequent article will address the code implementation.
 
Fernando Carreiro #:

I have to ask this, and this is not being "funny" but a genuine question ...

Why do people take on prop-firm challenges when they still barely understand the basics of trading?

Prop-firm challenges are difficult even for seasoned traders, so what makes a inexperienced traders so confidant that they will succeed with them so easily?

You will only be throwing away the entry fee. Instead start with a demo-account and practice until you are sure you can achieve the challenge requirements.

i created this strategy and im using a prop to get more capital for my own account, i have only really used trading view to trade and i didn't know if there was a problem with the code on the bot, because its take profits one but the next time it just kind of did nothing, so i was wondering what was wrong, on trading view you just place limit orders

 
Wyatt Hampton #: i created this strategy and im using a prop to get more capital for my own account, i have only really used trading view to trade and i didn't know if there was a problem with the code on the bot, because its take profits one but the next time it just kind of did nothing, so i was wondering what was wrong, on trading view you just place limit orders

Then you are giving even more credence to my advice — test or practice first on a demo account, until you are sure it will work properly and achieve the desired outcome without failing the prop-firm rules.

If you only have experience with TradingView, then working with MetaTrader is whole lot different, especially if you are coding an EA in MQL which works completely differently to the PineScript code.

PS! Most prop-firms use "hedging" accounts. Some offer an option but not many.

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