Never Lost A Prop Firm Challenge Again | The 5% Daily Rule Explained
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- Опубликовано: 9 май 2024
- If you're considering joining a forex prop firm, it's important to understand the risks involved. One of the most significant risks is the potential for a daily drawdown. In this video, we'll explore what a 5% daily drawdown means, and what you need to know before signing up with a forex prop firm.
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Развлечения
The best forex mentor in Africa, 🏆🏆🏆🏆🏆
This is a good one bro you have given me a great advice
Golden tips ! Thank you mentor
VERY INFORMATIVE! THANK YOU FOR TAKING THE TIME TO PUT THIS TOGETHER!!!!!!
Very educative sir, keep it up
You be a man, thank you so much.
So nice hearing from you boss
My boss, forever mentor, so Happy to see you on the screen
You just unveil a very big secret as regards prop firm industry!
Thank you sir!
Thanks alot for this insight
Please this is the key no one explained... salute you king. THANK YOU
Your content is legit , no twist.
Thank you bro for this amazing and educated video
Thanks for this information
Thanks for this
Thank you so very much for this explanation.
You are the best sir, thanks very much for revealing such secret. You are the best sir
Explained well 💯
Thanks boss for this
You deserve to be called Godlove🙌🙌. God bless you my Mentor 🙏
Thanks for these explanation. bravo👍
Thank you do much sir, this is what I always wanted to know why people loose their prop firm
You see, I didn't even know about this. Thanks!
Thank you very much, this rule also made me out, not one time now am in the way to recover all the losses
Okay bro, I have been following you on RUclips since the time you had 43 videos UpTo now when you're touring the world with your family. I enjoyed your personal video in the Arctic Circle region. You inspired me a lot since those early days todate. Of all your good videos I love those to do the Petrex Pro, how to install and use the Robot in trading, how it can precisely open & close thousands of trade entries. Then other videos on fundamental trading, the Bias Strategy, The Straddle Strategy and Godlove Strategy, the uniqueness you demonstrate the live trade make proud of you and I want to learn from you. You make sober minded Africans proud coz I have watched many videos, from Asia, Europe and America none can stand to compete with you when it comes to live trading. You are so real, so practical and so confident. You are just a blessing to Africa & the World over when it comes to forex trading. For your own information I am a senior citizen but with your help I feel I can make it. Thanks for being there for me & ready to help me through investment and for mentoring me into a profitable trader not just a professional trader.
The best is yet to come 🏆🏆🏆
Thank you very much boss this is question
I have ask many top forex traders in Nigeria here....they seen confused some don even reply...so sad😭...thank u once again we appreciate it
you are welcome sir
Great content Boss.
Please does daily losses sum up to overall drawdown?
This is always one tricky part,thank you ☺️
Very smart, that is exactly what I do. I have balanced based drawdown, and I have an EA which automatically closes all my trades when nearing 5k loss. Well explained
Thanks for sharing
You're a freaking genius Ndemazeah. Thank yiu fir this update
🏆🏆🏆🏆💰
Thank you Sir God love.
Will you be returning to Nigeria soon?
You know how to teach very well. Thank you as always!😊
You are a honest person you did not come out to lie to us but you came out to let us know how you have blew your forex founded account so that we do not make the same mistakes respect bro.
Very useful content
Thank you so much
Wow!!! God bless you Sir. You have no idea what this explanation means to me. Immediately I heard the concept of draw down, I started making research for it's meaning with no tangible information on Google and RUclips. Thank you very much for this one. You gave a concise explanation of what draw down mean..
Am glad you enjoyed it and am glad i could help
Thank you sir
I've missed you
Thank you brother for clarifying that 🙏
My pleasure
GOD bless you for this Sir👏
This is the best realistic information out here I salute Sir 👍
I appreciate that
So much important video thanks. ❤ love from India🇮🇳
Awesome content!❤
Glad you think so!
Wow I know better now before buying any propfirm
Yes, Mentor! Same with me here. I bought a 50k knights account from TFT. Its very difficult because of the only 3% daily drawdown and 6% maximum drawdown. That means for 50k usd account, I can only afford to lose 1,500 max daily drawdown.. .its also based on equity and balance. The technique is to pass the required 10% in one day if possible or if not, to really be careful with the stoplosses.. limit losses as little as possible. When I saw that my max daily drawdown is almost there, i cut it off. Closed all trades. So the account is saved. Tomorrow, is a new day. Ill have new max daily drawdown of 1,500 usd.. and its also the remaining maximum drawdown. I cannot lose that amount anymore. Its my last chance for this account. So, tomorrow, I plan to be more careful, with my stoplosses and try to select the best setups before placing my trades and in case of positive wins, maximize the wins by stacking.. but again, being careful with stoplosses.
The TFT knights account is actually the most difficult of all accounts but the advantage is we can withdraw weekly.
update sister,how did it end
Thank you
Good explanation as always Mr Godlove!👍
But remember it's 5% still & not 5.5% or higher for d following day and every single trading day after until the overall 10% is breached.
5.5% is base on the overall 10% not the daily.
They are well explained videos, you didn't check well or understood then
Unfortunately I also learned the hard way about the equity balance drawdown. Personally I feel its predatory to the trader and traders should avoid such prop firms.
Did you also noticed the value of the Pips when the trade is going against you is higher than when the marketing is going to your direction?
I thought it was just me.
That's because of spread
Wow Boss this is the Best explanation i have gotten so far.
Please i have a question concerning balance based accounts.
When it comes to the overall drawdown rule, is it measured by the sum of daily losses?? ( Like if I lose 3% of my account like 4times which will sum to 12% which is already above the overall 10%) will i loose my account??
I list three accounts to Dailly drawdown
Very very clear
Glad you think so!
Wow thank you very much about this, can someone use a robot to trade pro film?
Wow! Thank you very much Boss, for this revelation. Just to inform you, I have a plan to buy $5000 account this month end. Your kind is rare, always committed to see people win and succeed in their endeavours. You're truly a God sent. May God continue to keep you at the top. Sorry about the loss. Remain great.
Really appreciate, thankss
😊
🏆🏆🏆❤️❤️💰💰
U sound like an akwa ibom guy
This is what happened to my myforexfunds account exactly 7.5% on phase 1 and i lost it with a drawdown balance of 5059. So painful just because i struggled to get the money.
I know right, that's painful and I wish they could just measure drawdowns according to balance
The RAPID ACCOUNT challenge Of The funded trader is the only account of them based alone on balance.
Thank you very much Boss, pls am a new bea, how can I access the patenx robot software.
Please check my video description for the link to access Patrex Pro
screen with him , it was then i realized that this can never be you. It was on discord. please try and fix this issue because i felt email should be safe writing to you privately
This is what happened to me.
Daily draw down
How can I connect to you
If the daily drawdown is 5% and the total drawdown is 12%.. Dows it mean that the total loss that can be incurred throughout the month of the evaluation phase is 12% or just 5% daily loss foe the whole month???
I would be glad to get your response❤
DO YOU TEACH HOW TO CREATE EA
If someone fails the prop firm challenge the first time, can he attempt again? Will he be accepted?
I need your robot on RSI
I want to get my AI
God day my mentor, is it possible for me to get the 10% in the first phase using news trading like NFP or CPI news?
Yes but stay away from news for prop firms
Best
If I catch you for road eeh😂😂😂, you go see❤❤❤❤
Is it advisable to trade news in our funded account 🤔
yes if you have a good news trading strategy
@@NdemazeahGodlove yes is straddle strategy
Bro you're the best 🙌🙌🤌
dun trade on prop firm account as the rules are not in your favour. starts slow with your own life account n u be fine..no free lunch in this world.
So which prop firms do they measure daily drawdown with balance only
Trueforex funds
I will need to check I have head of TFF but not sure yet
The Funded Trader has one account based on balance.. The RAPID CHALLENGE. all other accounts are based on equities.
true forex fund they are the best the rest measured on equity is a scam
Which prop firm do u use
Many sir, check link on video description
Please which proprietary firm will you recommend..??
Please check recommended prop firms on my video description
❤
even a pro trader will loose in prop firm account...its design for you to loose money.
I disagree that bro, look for a winning strategy and you will make a lot of money
We can learn strategies to go around their rules.. once we know what to do, we can win the game. Small losses. Winning strategy. Stacking wins. Stop trading for the day if you already almost consumed the daily max drawdown.
First to watch
Does the bot work on mt4??
MT5 sir
💖👍💖💖💖💖💖
The best always decoding the hidden things in FX. Nice one again. I did send you a message via the email with which we do communicate but to my greatest surprise I got a response to my mail but the worst happened because the person was asking me for cryptocurrency information on my centralized exchenge binance and kucoin and insisted that i share my crean wi
thank you for your open honesty ! i will use my own money & use own stop_loss. so what about my payment that i gave to pro-farm? is it Free money, Free revenue for them. I knew they had tricks.
They use your payment to fund successful traders like us, so try to be successful so that you can use other people's money to trade on a bigger account as well
Prop firms have advantages to us.. they lend us the bigger capital once we have proven profitable. We just learn how to go about their rules. Still helpful to be with a prop firm. Big capital.
Thank you