ββββI backtested the whole year of 2020 with a 100k account to see how my strategy would have fared in the year of the pandemic.
These are my results from my best and worst months and some lessons I learned.
Be aware of your prop firm's consistency score, have a profit target you want to withdraw, figure out 15, 20 or 40 percent of that amount( according to your Prop firm) and make sure you don't exceed it in a day.
Good luck and happy withdrawalsππ
ββββIf you're one of those traders who has problems completely grasping certain Propfirm rules, then this is for you.
I'll be explaining a pain in the arse rule that is very common in the prop space: THE CONSISTENCY RULE.
i.e you need to make 200 dollars while keeping your max profits in a day equal to or under 40 dollars.
Profirms do this because they want to weed out traders who get a lucky gamble and win a lot of money in one day from traders who made money through consistent profitability.
I was going through my writings from 2022 the other day on just how frustrating trading was at the time.
I could feel the stew of raw negative emotion and the burning desire to make it work.
Wish I could go back in time and let that guy know how in the end, he did make it work.
@InnocentMarve11 Toxic asf take.
If you're in this comment session, don't believe a word of that, there's hundreds of people who made it on their 3rd, 4th, 5th years and had amazing careers and still do till today, I know some of them. Your timeline to success is strictly yours.
Improvement is a journey without a destination.
Wholeness is satisfaction with who you are.
And to be complete is to be done improving, which is impossible.
~Musings of the Eternal Student.
@Dioslev Consistency in execution of a proven edge in a trader's strategy, regardless of results, is their best bet towards longevity and profitability
@RealJGBanks Falling before you fly is almost always the blue print
You have to pick yourself up again and again before you can start to fly
For some of us, we have to make every possible mistake before we can find what works.
@ScarfaceTrades_ I believe that part of why people find it difficult to wait and is because they've not accepted the fact that their rules will sometimes keep them from trading a setup and the setup just might end up winning. Your rules protect you from low probability, not certain loss.
@Sholly_Pee1 It's not looking too sexy a profession now that you put it that wayπ
But yo, show up long enough to make that dream a reality and when the results of your discipline and consistency start to pour in, you will be the guy they regret doubting.
@_rhtrader INV FVGs top every other PD array listed in this post
Choosing to trade only from inverse FVGs is basically you only choosing to trade when there is a confirmed switch in orderflow. Your win rate will absolutely sky rocket.
A new week to trade the commercial markets.
Don't go into today wanting to make money, instead focus on executing your strategy in a way that you be proud of yourself when you do your trade review later in the day.
Wishing you a profitable week aheadππ