Never Blow a FUNDED Account
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- Опубликовано: 26 авг 2022
- Lessons learned from trading a 6 figure funded account in 2022.
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Развлечения
One thing I would like to say is that it's even easier to catch up to people who gamble.
Because it will take them around 2 months to blow the account (for the profit split and then blowing it), and then let's say another 1 month to pass the challenge.
Boom, 3 months and you catch up to them. Stay consistent!
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your growth has been amazing to watch bro, keep it up!
The way you explain things are very good. Keep going🫂
I’m in Verification with FTMO, I use a simple strategy, its not easy and losses can definitely make you question your skill set. He is absolutely correct consistency is key. My dream is to trade full time while living abroad. When I pass I’ll be the happiest man on 🌎
Go and smash it mate. Don't rush it you got this!
Keep working man. You're going to make it a reality
All the best mate!!!🎉
Wish you all the best!
I have the exact same dream. Good luck to ya buddy
Remember, just because you have a stop and manage your risk, doesn't mean you have to be ok with taking mediocre trades. You should strive to take very good quality trades and absolutely maximise your chances.
That's very true!
the last tip was on point! thanks! keep posting gems man!
Risk management is key.
I don't set an rr target. I look for a price target. Hits the target I'm out.
I use 1% sometimes 2% if I am confident my analysis is solid but no more then that.
If my stops hit. I drop risk to half of origional risk.
So 0.5%.
If loose again. Half to 0.25 and so on untill I recover the losses.
Capital preservation is key.
This way. Logically.
If you have a streak of failed analysis. Then
With 1% initially. 0.5% next loss. 0.25% next loss.
Even with 3 trades being lost. Only 1.75% risk loss.
Very hard to break 2% drawn this way.
Then when the high rr trades to my price point do pan out(such as a 7 or 8r) at 0.25% it recoups the losses and I can trade with 1% again.
Kelly criterion will make it easier to know what your risk limit based on your winning and losing streaks
@@William.-. I track my own risk.
Have an expert advisor that defines risk as I set it using either $ ammount or % ammount. It auto adjusts my lots used so I don't have to stress and do calculations.
Mff and ftmo are different beasts and have to be viewed differently.
Mff. Risk is % based.
Ftmo. Risk is $ based.
I am also thinking about starting a youtube channel about my trading journey (about to start my first funding challenge) and I've also though about how that will affect my psychology. I can understand how it will put more pressure on me, as making it public allows everyone to see not only your success, but your failures too.
For what you said, I can see it puts a lot of pressure on you too, but I just wanted to congratulate you on your progress and let you know that us (fellow traders) are rooting for you and want to see you succeed as much as we want to succeed ourselves, and that no one is here to judge you, but only to learn from your experience and advice.
Hope you have a great week and can catch a lot of pips :)
This guy is the truth! Bro you are the truth, talking about ego while exhibiting none ?heavy. Gems galore
Honestly, you are one of the very few that keep it real. Trading is not easy. It's even more difficult to share your struggles on the internet
Thank you Kimmel I agree with you, in my first month of trading my funded account my risk per trade is 0.2%, I scaled it down to 0.1% when my account balance went down to -0.4%
i love you man i am glad i found your channel its really helping me
💪💪💪
You spit facts. I failed one challenge already on MFF because I ignored risk management and my head wasn't in the right space. Luckily, I was still in profit so I got a free reset. This time around, risk management and trading psychology are the most important parts of every trade. I barely even care about the $$ anymore.
very sincere 👌, i like that , keep up the good job
(very true about ego and stuff that gravitate around it) .
Great advise. Thank you 🙏
💪💪💪
needed this
One of the biggest problem is phase 1 when you are in drawdown then you only have 3 weeks when you need lowering your risk to take to be time will be longer but challenge only be given 30 days in phase 1
I am a new subscriber, thank you for your advice it's really helpful...
Love that!!
I appreciate the honesty, especially regarding your last point. As a FYI. I have multiple funded accounts and have been trading 0.25 since the beginning. While I never had 10 consecutive losses in a row, I have come close and my mindset would have suffered. Great video, and thanks for sharing.
Congrats bro, mind if I ask you What strategy you personally use that is going well for you. I will try it and keep the one I like the most. I studied ICT and SMC for the last 6 months but things aren’t going well.
💪💪💪 thank you!
@@willyd4498 I'm assuming that this question was directed at me. I'm currently at Phantom Trading, and using their strategy.
@@jbucovetsky what's your winrate bro
@@willyd4498 if things aren't going well then maybe smc doesn't suit your personality try retail concepts like S&R, trendlines etc and I have seen people become successful with it
Very well explained thanks - great video.
🫡
I love you bro!!!! Thank you for this.
👊👊👊
thank you so much you are a lifesaver
Great content as always Rafa🙏
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I trade futures but This video....I think has helped me. I'm stuck in a loop.
Great vid Kimmel, dropping some gems.
Thanks for the tips
🔥
THank you! I just get funded nd suddenly its not the same like in the challenges. I lost already 5% of my 10% total drawdown.
I've earned funded accounts... and lost them as well. Your advice is spot on, it's definitely better longer term to hold onto your funded accounts than to trade aggressively to reach certain money goals. If you get a funded account, most likely you're in the 5% of traders who can do this. I think also the market goes in cycles and strategies tend to work in only certain periods so every trader will need to learn how to handle this.
Thank you, I agree 💪💪
if you blow the money do you owe them the money you lost
So how manny times can u lose when they stop giving u a funded account? And make you start all over?
Thanks
LOL. My first week on this new challenge after blowing a live account. I wanted to warm up first trading 0.10 of 1% and I'm actually up 2%? It really helped me to ease in and trade a little more care free than usual and less stress. Thinking of bumping it up to 0.20 and up to 0.33 of 1%. Not until I do my ASR and commit however.
The lower the stress, the more we stick to a plan. So that’s exactly it!!
I like this quote and i couldn't agree more.. " it's not the outcome that makes the trader.., it's the trader that makes the outcome.."
well stated
This is a great video. Very important
💯 🔥
These funded companies have horrendous statistics. Less than 1% of people can sustain an account.
That's trading in a nutshell
So glad I saw this video. I've been trading for years and every loss hurts. I think this is because I'm a sales person and am measured and rewarded by targets, and this has carried across to my trading. I think I need to stop watching every £ win or loss and relax more. I have a high success rate, so as long as I continue this I should, eventually, get to my goal.
Risk low and take many challengers to have a big capital.
Take a new challenger after every payout
it really helped thanks
💪💪💪
My setup forms 3 times a week in 1 single pair and almost 80% winrate 4R sometimes, i risk 2% taking partials on the way.
I did understand that market will not be on your favor everyday and you don't need to trade bunch of pairs to make it happen.
💪🏽💪🏽💪🏽
What’s your setup
The best risk management method I came up with was instead of risking a percent of your funded account, risk a percent of your Max DD amount. That way it is virtually impossible to lose the account due to max loss violation.
This way you will not pass too
@@tradingequation1002 but the topic is how to avoid blowing a funded account not how to pass a funded challenge. Also why do you think you wouldn't pass using this idea?
@@zafarhashmi2170it's okay, but 1% of max drawdown limit is 100$, it means you are risking 100$ per trade. If i consider 100k account. How you gonna make 10000$ risking 100$ per trade in 30 days?
@@tradingequation1002 you don't risk 1%, you risk the amount you need to pass.
For example you could risk 10% per trade which would be 1% of the 100K account for the first trade. But after that the amount goes down faster than if you were risking 1% of 100K. Risking 10% per trade (of your max DD) you can lose 40 trades in in a row and still have a small amount of DD left.
@@zafarhashmi2170 simply risk 0.5% per trade. Fix it look for good risk to reward ratios and you will not only mitigate drawdown but also pass. I have done this and passed 8 founded accounts
Thank You :-)
👌👌
You have raised very good points. Every trader should follow it. Do you think choosing a good firm matter? I think it does as in my experience i got more success when i switched to 5ers.
That’s very interesting. Different firms will give you different challenges. There might be challenges that make you more comfortable, so that might be an important factor
Good one Rafael
Thank you! 💪💪
Yes , its better to manage the risk rather than blow your account, become consistent profitable first...and good things will follow.
100% 💪
this is what happened to me! I lost my funded account risking 1% so now I do .025%
Finally got funded with a 300k account, my plan is to make a huge withdrawal and get more challenges then link them and trade them together💪🏾
Hey Kimmel. What was ur risk management for the challenge/verification? Thanks
0.5%/trade
2.5% down and i have 2 weeks left to go. Not sure if im going to make it
Good video. Good tips. Trade to keep your account. Make profit then stop 🛑.
🔥💯
If let's say my draw down limiter is set to 2% around 12/1 Am then I decided to increase it to 3% maybe in the afternoon my time what will be the effect? is that even acceptable
Hello! I don’t know if you have a video about this but I was wondering if you’ve tried a swing account on ftmo to be able to keep any open trades open during impactful news so that no TP or SL counts as a violation?
I know the leverage drops to 1:30 I believe, if you’ve used a swing account have you noticed this to be an issue for SMC?
Thanks this is a huge doubt for me
For SMC 1:30 is possible, but it doesn't give you much freedom
Hey Kimmel bro start your own prop firm we need more trustworthy firms in the industry whom we can trust and if traders like you trade a prop firm it will give us the confidence that you won't scam us 😊🤝🏻
Does rules apply after you passed the fuded challenge? Can you do whatever you want to youelr account?
Quick question,what do you think of combining the conservative and aggressive approach in your trading?
I would stick to one
blew mine today 🤙🏻
Can someone please explain me please...If you got your 100k funded account, and first month of trading you end up on 95k so lost 5k in a month (5%) off account, not 10% which is limit for lossing account. What happens then? You keep your 100k account for next month or you lose it? And how much months in a row can you be unprofitable with small losses under 10% a month and not losing account if that is the case?
Thanks :)
Just passed MFF, much better than ftmo as long as you don’t hold over night, day trading it is perfect
Can you go over any tips you have for bettering your discipline and psychology.
100%! Will do it this year as I am currently implementing one of my processes
@@KimmelTrading thanks, looking forward to that. I have a ton of backtest data and live data, but I'm struggling to not break trading rules
Do you use the drawdown EA on all of your funded accounts?
Something I don’t understand about FTMO if you less then 100k In the end of the month what will happen next month ?Will start from 100K or you need to go out from DD and you get not profit
You need to get out of DD
Please can anyone help me with COMPOUND INTEREST
But risking little while trying to win an account might be tough, cause you will protect the account but might not get up to the requires percentage, how do you balance that?
The challenge is a whole different thing. My risk management is different in the challenge
@@KimmelTrading do you mind sharing the risk management strategy you used to pass the challenge? it would be greatly appreciated.
Can u trade forex 24/7 with a myforexfunds account?
hey bro what trading panel are u using i can see in the background
It's the trade assistant
0.25 can be slow and might not work. Making 8 percent with 0.25 also means over trading
I don’t risk 0.25 on the challenge
Having a youtube for a Funded Trader is far more harder than a funded trader to achieve 15% IN 30 DAY challenge account. :)
What percentage risk do u advice for evaluation and verification stage
Depends on the strategy
@@KimmelTrading
Same as yours
Smc
facts
💪🏽💪🏽
It all depends on your win rate. If your win rate is something like 75% then I think you can get away with risking 1% but 0.5% would be the safer option but if your win rate is on the lower side and you look for higher risk rewards then 0.5% would probably be okay but 0.25% is more ideal.
Yeah, I agree with you
Did MyForexFunds fix their spreads and slippage issues??
thanks for more great tips brother. I would like to reach a bit here, i could really do with a challenge right now but i don't have the funds to do so, you mind helping me out get even the $84 MFF challenge, it would really help me out.
If you don't have $84 you shouldn't be trading right now.. Get a job and put some money aside to be able to pay for the challenge. It will be less pressure on you
@@skyllarz182 I'm from South Africa. There are no jobs for anyone here unless you bribe people that hire, it is all corrupt brother
Im currently giving funded test, MFF 5k test..
your top 3 tips for me ? (10 months trader)
Stick to the plan
I did everything right till I got funded, followed my rules, stayed disciplined, risk management etc. But after getting live account did everything wrong I could ever imagined.
What changed? Did u start taking trades that looked like your model but wasn't it?
@@lamizor Started to take more risk to gain huge returns
Are you all good now? In phantom the teachers use 2% daily loss limit, if they lose that much they just close mt4 and trade fresh again the next day.
Back to the drawing board! It’s perfectly fine! Take the lessons, and grow!
@@KimmelTrading Thank you so much,
What's the real and essential lesson to learn from these? What is it ? That it is worth starting a prop firm as chances are very high that it is gonna be hugely profitable (you can even make the continously successful traders work for the company, copy their trades) nice 'n' easy
Go for it :)
I just got funded on MFF. May I ask if I end up in a negative side say -1% but been trading for 10 trading days, do I still get my refund fees after 30 days? Tq.
No, only on your First profit split
@@KimmelTrading tq for the reply master
I'm struggling big time with phase2 MFF.. I don't know where I'm getting it wrong
Trading plan and discipline Is the key bro.
I just blow my funded account today....i felt I'm heartbroken.....even my account is profit
Guys, if I can pass my phase 2 within a short time, will still need to wait until 60 days before trading the live mff account?
No, just 10 trading days
Once you finish the 2 steps process.. are you guaranteed an account ?
Yes you are
what happened if u blow up those funded account will they chase you for collateral?
No, no risk on your side
Risking 0.25% each trade, how do one get to reach the 8% and 5% profit target given
During the challenge its an different story. This is where most of the time u use 1% risk per trade. Afterwards after you have your account you will start risking less!
maybe the reward is 2x3x4x or more?
0.25 way too low 0.8 think is good spot
I normally go with 1%, then 0.5% when experiencing a drawdown/loss
I agree with what TheGoldenCrisp said. Those are two very different scenarios
Too difficult to accept I'm just blow the funded account...
It's amazing how i don't want you to stop talking.. "remove the ego out of your trading, wow"
Hahaha, next week we got more videos hahaha 🔥
I'm curious if the guy who got around $500,000 payout from a funded account eventually blew his account?
That would be super interesting to know hahah
What if it’s MFF? 😂
Get it right man from uganda
💪💪
He turned me on to Pat a trader who teaches a trading psychology course . Great video
I’m currently -8.5% on my 300k live account. I was following my plan, but August gave terrible result on my trading strategy. Any recommendations?
Pray and back test your strategy. How many days you got left before it reset?
@@William.-. it’s already passed both stages, I meant -8.5% on live account
Never backtest, always future test. I have passed many funded account for peoples. It's simple risk 1% per trade and follow on quality trade which can gives you high rewards
@@user-kb1he8zz4m what is the condition now?
@@tradingequation1002 -9%, I take a break from trading for two weeks. Need to rethink about my attitude and come back to trade at low risk. In 2-4 months I have a good chance to save it
The ideal is to have 500k in founded accounts and risk 0.10 per trade, you leave out the psychologycal factor and the payout is sustancial to make a living.
.10 on a 500k is insanely low . I’d say at least 5.00-10.00
Depending on your monthly returns, but yeah, completely
Personally, everything weighs on your strategy. If you win rate is 7/10. You can risk 3% to win 7%, its possible.
With 70% strike rate, losing 3 trades is a row is still highly possible. Not looking to blow an account
Amazing content. Subscribe click earned ✅
lose my account
I lost as well 😂😢😢
i pass ftmo using 0.25% var
🤌🏿🤌🏿 nice!!
Um dia destes podias explorar o mundo das prop firms ligadas mais a futuros…, por exemplo, Apex Trader Funding, Uprofit, Topstep, earn2trade, etc. Conheço um artista que só na patilha do seu cupão (dos seus cupões,/descontos - obtenção de comissões) no seu canal de youtube (mais pequeno do que o teu) tem feito torradas de dinheiro... Procura por CanadianFuturesTrader.