
Explore how prop firm challenges work, including a two-phase evaluation process, profit targets, time limits, and restrictions on drawdown and trading, to craft a plan for your next challenge.
Approach prop firm challenges as a project, manage time, risk, technical analysis, and price action; set parameters for instruments and sessions, and avoid overtrading and revenge trades.
Set realistic expectations for prop firm challenges, acknowledging that no guarantee of success exists and that mindset matters. Read the disclaimer and use your own judgment.
I share my approach to prop firm challenges and explain two criteria for starting a trade: daily trend and a candle setup that closes inside the previous range.
Select trading sessions based on your time zone, prioritizing London and New York for volume, liquidity, volatility, and momentum, and write a plan detailing which session you will trade.
Identify the ten best forex pairs for swing trading during the London and New York sessions. Focus on European and North American currencies to capture volume and volatility.
Identify daily trend of each forex pair, analyze yesterday's candle, and seek a clear lower time frame entry during London or New York session to boost prop firm chances.
Use price action to confirm a bullish trend, mark yesterday's high, low, midpoint with fib, and wait for a bullish m30 entry off a demand zone in New York session.
Place stop losses on the 30-minute chart: below the latest m30 swing low for longs or above the latest swing high for shorts, with simple risk management.
Adopt a prop firm challenges approach: raise risk per trade from 0.25% to 2% and target 10% in 30 days, with fewer a+ quality swing setups.
Explores fixed risk per trade versus variable risk, advocating a 2% risk with only high quality setups to endure a 10% drawdown in prop firm challenges.
Do not take partial profits during challenges. Set take profit by risk-reward targets tied to the profit target, e.g., 1:5 (ftmo phase one), 1:4 (tft/mmf phase one), 1:2.5 (phase two).
Backtest a swing-trade strategy on forex pairs using TradingView, exploring demand and supply zones, stop losses, and 1:4 take-profit targets across London and New York sessions.
Learn how to use TradeAide Mt5 ea to place multiple take-profit orders across 2 or 3 entries, manage risk, and leverage break-even and daily loss protections.
Prioritize patience as the holy grail of prop firm trading, waiting for the setup, entry, and take profit. Avoid overtrading and revenge trading that can ruin your account.
What Will You Get From This Course?
Offering a recipe for improving your prop firm challenge results, this course gives you a straightforward management strategy, a brief and clear challenge management plan and a full-options risk management MetaTrader5 EA, helping you leave behind some of the mistakes that made you lose tons of challenges in the past.
What's In It For You?
I must confess that one thing that really pisses me off is seeing lots of beginners in trading getting 'rekt' following the dreadful advice of all kinds of Twitter and YouTube "gurus" who have literally no idea how markets work, what moves a market, how to properly read a chart or how to manage risk adequately.
If you take a look at their pitiful charts, you're immediately overwhelmed by the number of flashy indicators and colored lines - all of them making you unconsciously think "Wow, this guy is smart and his analysis is so complex! I have to get at his level, fast!" in order to become a funded trader.
And then you find yourself throwing money at him, then also throwing money at prop firms to buy challenge after challenge, just to end up even more frustrated and confused at the end of the day.
Now, let's get down to the nuts and bolts of this course.
What Are We Going To Cover Throughout The Course?
Introduction to Prop Firm Challenges - We're going to briefly discuss how does a prop firm challenge work, how you should approach it from different angles and what to expect from this course at the end of the day.
The TIME MANAGEMENT Element - When is the best time to buy and start a prop firm challenge, according to your own trading strategy, and when is the best time to hunt for trades once you begin the challenge?
The TRADE MANAGEMENT Element - We're going to debate what are the best Forex pairs to trade depending on the Time Management element discussed previously and the session(s) you decide to trade in. Moreover, we're going to touch on one of the many ways you can manage your trade entries and SL levels based on price action.
The RISK MANAGEMENT Element - I'll openly tell you how I personally approach prop firm challenges nowadays, from a mindset perspective. Also, we're going to discuss actual risk management numbers, if and when I take partials, if I use fixed or variable risk per trade, and where do I set my TP level.
Combining Everything Together - Here you're going to get the Challenge Management Plan in PDF format so you can download it, fill it in with your own parameters and finally print it and have it on your desk at all times. Moreover, we're going to perform some backtesting using the concepts we discussed throughout the course to see some real examples.
Download the MetaTrader5 EA for RISK MANAGEMENT - Here you can find a detailed tutorial on how to use TradeAide and all its various options and features, and also where to download it from so you can use it in your MT5 platform.
What else? - Finally, we're going to emphasize the KEY psychological trait that you as a trader should strive to improve, the glue that makes everything we discuss in the course stick together. Also, I'm going to reveal the prop firms that I'm currently working with, as well as my preferred trading broker, since I'm convinced you might wonder what's best in the industry.
Ok, But Who Am I?
I am Mike, a forex, indices and cryptocurrency trader who went through all the trading mistakes you can imagine, bought tons of TA books, attended lots of webinars and live trading seminars, tried hundreds of useless indicators (and tweaking every little setting and parameter for each of them), before realizing that pure Price Action and solid risk management are the keys to profitable trading, along with the right mindset of course.
Now, years after I acknowledged and accepted that all of those flashy indicators, alongside reckless risk management and an inconsistent mental approach have been the entry barriers into the world of consistent trading profits, I managed to synthetize and organize my thoughts, knowledge and experience into an easy-to-digest and novice-friendly video course, which I'm going to share with you here.
Let's waste no more time and let's start fixing your prop firm challenge approach flaws right away.
Enroll now and I'll see you on the other side!