Really. Nobody has to blow accounts tbh but people think they need to blow accounts to be profitable. You need to learn it as if you learn for your exam for your university!
big tip is to physically place a SL and TP on the chart as soon as you enter. and DONT move them unless your trialing the stop loss or taking profit earlier because of retracement, ect. never move you take profit for more and never move the stop loss lower than you have it set. will help toward becoming disciplined
I believe this to be true as I have been trading prop firms for the past 3 months and have only passed one… i feel as if I just need to pass which leads me to taking bigger risk, taking poor trades, trying to make up losses and just over trading in general. These all lead to blowing up your account. Even after telling myself all these things, it still comes down to having the right mindset. I will now be starting a small account to overcome the mental side of trading. Good luck to all!
@TradewithPat I just don't think demo trading helps at all. There's no emotional aspect to demo trading, and as you're probably aware, trading is mostly about emotion and mentality. I agree that buying prop accounts is useless if you think you're gonna be able to manage 50k+ as a beginner. But this is my opinion
Plus, trading prop accounts are great for getting those losses under your belt. They build good fortitude, and considering that they are built so the odds are stacked against you. If one can lose many and still keep going after a few years, then you will make it. As I said, this is my opinion and probably one of the few who hold this opinion.
@@FXTrader247that’s not true. Demo trading is used when you’re still building something that’s going to work for you.. let me tel you, if you consistently profitable for several months on a demo account with laid down rules…you’ll do the same in a live account. And you’ll surely pass prop firms. Learn to trade first before considering prop firms. Forget about emotions/mentality, that doesn’t count when you haven’t figured out a strategy that has edge. How do you come in to forex as a complete novice and start figuring it out with live funds..any sense in that?
Im finding out that futures are a whole other animal vs stocks. Ive added 50% to my roth and 97% to my brokerage ytd. Resetted my prop firm challange like 4 times already. And i know exactly what im doing wrong now
@@TradewithPat Of course if you can’t profit on demo there is no point to go for the real one. But no matter how good you are on demo and how profitable, this doesn’t mean you will be same on real one, cause here comes the factor I mentioned before - emotions. They play huge role and are the main reason people lose money.
says the guy with no content or proof of being a profitable trader. on another note; emotions are emotions wether live or demo. everyone wants to be right. being wrong and losing in a demo account still has negative psychological effects.
The worst thing you can do is use demo, you will never feel the same emotions that would be felt on a live account. I'm a fan of your work but in my opinion this is bad advice.
@@TradewithPat They matter because you will bearly feel emotions when you dont have the risk of money on the line. Lets say you are profitable on demo, as soon as real money comes into it and you take a loss you start to doubt that it works and that demo is a scam etc. There is bearly anything in the world that triggers emotions from humans like loosing and or gaining money. I started trading 3 years ago on live and the biggest thing that always made me an unprofitable trader was my emotions getting the better of me, I had to learn how to control it, this would have never happened without the risk of loosing real money. BTW I want to make it very clear, Im not a hater, I like your content its just something I have always disagreed with when any trader says it. Have a blessed day pat.
I'm fine with your disagreement. I just don't feel your point addresses my concern from the last comment. If someone blows 15 demos in a row, what's the point for that specific trader to go live?
i agree, trading on demo vs trading live in normal brokers vs prop challenges. The pressure is just different because we pay for a challenge and trade based on the fee. It is different than just trading on demo with less pressure. he probably has never taken a challenge and has no clue what is realistic,
lol, depends if you are smart, winner or a loser. that can apply to traditional jobs too - it is also not stable, not everyone can work at traditional jobs...
lol, everyone has their own path but why just wanna upload this video to get views and attention lol. Just wanna play drifting other people's path. Hypocrisy in the face
Practice on demo is the most important thing first. Remind them bro 💯
Absolutely 💯
Really. Nobody has to blow accounts tbh but people think they need to blow accounts to be profitable. You need to learn it as if you learn for your exam for your university!
@@onurapaydin3169exactly treat it like a uni subject
I first invested 4 years just in demo accounts... and it helps a lot, but now prop firms are a gamechanger
big tip is to physically place a SL and TP on the chart as soon as you enter. and DONT move them unless your trialing the stop loss or taking profit earlier because of retracement, ect. never move you take profit for more and never move the stop loss lower than you have it set. will help toward becoming disciplined
I'm consistent but I need propfirm tired of making small profits😒 i need propfirm to fund a good amount
doing a small account. the psychology with real money would translate better than demo i think. Even if its just 100 or 200.
I believe this to be true as I have been trading prop firms for the past 3 months and have only passed one… i feel as if I just need to pass which leads me to taking bigger risk, taking poor trades, trying to make up losses and just over trading in general. These all lead to blowing up your account. Even after telling myself all these things, it still comes down to having the right mindset. I will now be starting a small account to overcome the mental side of trading. Good luck to all!
I agree. Buy the cheapest and it will help in the long run when one does eventually go live with 5k/10k
Prop challenges are designed to earn them income from testing fee's, and the max DD is so low on many. Fury is designed for YOU to win, not them.
Plz recommend prop firm
I think it's actually a great idea to pay for cheap $50 prop accounts. It gives one the emotional confidence while learning.
Even if you can’t win for a week on a demo?
@TradewithPat I just don't think demo trading helps at all. There's no emotional aspect to demo trading, and as you're probably aware, trading is mostly about emotion and mentality. I agree that buying prop accounts is useless if you think you're gonna be able to manage 50k+ as a beginner. But this is my opinion
Plus, trading prop accounts are great for getting those losses under your belt. They build good fortitude, and considering that they are built so the odds are stacked against you. If one can lose many and still keep going after a few years, then you will make it. As I said, this is my opinion and probably one of the few who hold this opinion.
@@FXTrader247that’s not true. Demo trading is used when you’re still building something that’s going to work for you.. let me tel you, if you consistently profitable for several months on a demo account with laid down rules…you’ll do the same in a live account. And you’ll surely pass prop firms. Learn to trade first before considering prop firms. Forget about emotions/mentality, that doesn’t count when you haven’t figured out a strategy that has edge.
How do you come in to forex as a complete novice and start figuring it out with live funds..any sense in that?
Love the encouragement bro❤
You never disappoint....much love🖐🏽
Much love :)
@@TradewithPat Hi Pat, which prop firms is legit and from which you have received actual payouts?
Pls give strategy to complete tha chalange
Hey, what's that calendar that showed the profits and losses?
Hi Pat, what prop firms is legit and from which you have received actual payouts?
Ftmo is good
Absolutely, I agree been at this for 3 years on and off.
Trading on a demo will not improve your trading skills, people must practice on these challenges it will teach them to respect rules
But if you can’t even win on demo, don’t you think you should do that first?
Totally agree
@@TradewithPat. tell them.
What is the calendar that you show that’s says each days pips?
Im finding out that futures are a whole other animal vs stocks. Ive added 50% to my roth and 97% to my brokerage ytd. Resetted my prop firm challange like 4 times already. And i know exactly what im doing wrong now
Much love❤
MUCH LOVE
No, demo is nowhere close to account with real money or challenge. Emotions are the thing in trading and demo gives zero emotions.
So let’s say you can’t grow a demo account then.. is there still a point trading live?
@@TradewithPat Of course if you can’t profit on demo there is no point to go for the real one. But no matter how good you are on demo and how profitable, this doesn’t mean you will be same on real one, cause here comes the factor I mentioned before - emotions. They play huge role and are the main reason people lose money.
The market seems to have lost a ton of volatility. I am thinking that prop firms might be a factor why this has happened?
says the guy with no content or proof of being a profitable trader. on another note; emotions are emotions wether live or demo. everyone wants to be right. being wrong and losing in a demo account still has negative psychological effects.
What’s some good demos to use
yungsway need to do take a break
The worst thing you can do is use demo, you will never feel the same emotions that would be felt on a live account. I'm a fan of your work but in my opinion this is bad advice.
I disagree. If you can’t even prove profitability in demo, why do the emotions even matter?
@@TradewithPat They matter because you will bearly feel emotions when you dont have the risk of money on the line. Lets say you are profitable on demo, as soon as real money comes into it and you take a loss you start to doubt that it works and that demo is a scam etc. There is bearly anything in the world that triggers emotions from humans like loosing and or gaining money. I started trading 3 years ago on live and the biggest thing that always made me an unprofitable trader was my emotions getting the better of me, I had to learn how to control it, this would have never happened without the risk of loosing real money. BTW I want to make it very clear, Im not a hater, I like your content its just something I have always disagreed with when any trader says it. Have a blessed day pat.
I'm fine with your disagreement. I just don't feel your point addresses my concern from the last comment. If someone blows 15 demos in a row, what's the point for that specific trader to go live?
i agree, trading on demo vs trading live in normal brokers vs prop challenges. The pressure is just different because we pay for a challenge and trade based on the fee. It is different than just trading on demo with less pressure. he probably has never taken a challenge and has no clue what is realistic,
People are getting wrong, trading is not a stable income Source its a side hustle and it's hardest income source .Not everyone can be a trader
lol as for stable income 😂😂
lol, depends if you are smart, winner or a loser. that can apply to traditional jobs too - it is also not stable, not everyone can work at traditional jobs...
Use the little money and buy a challenge and grind from there
Demo cannot equip you for real trading
I disagree, but everyone has their own path.
@@TradewithPat sure, bro!
Demo helps build the skillset, but not the mindset, at least so I think.
Love your channel❣️
Are you sure about that 🤨.
@@LuhLez yes, trading is not all about strategy. You may learn strategy from Demo trading but only live trading teaches you psychology!
lol, everyone has their own path but why just wanna upload this video to get views and attention lol. Just wanna play drifting other people's path. Hypocrisy in the face