It's not a copy trading, it's a funded capital but your bare the drawdown.

It's their money, so they like to make rules that they like 50% is good and enough for a living if you trade 6 figures capital with 1-2% per month.

Got prop firm called Maverick the split is up to 20/80 but the upfront is really high got monthly desk fees.

Thanks for the explanation

You still got optiosn;

Trade other people money

You can pass prop firm test, just need 6% profit and 4% drawdown.

I don't have capital that big enough for living that's why I choose this.

6 month period.
They will give your 10k real account for evaluation period (6 month for 6% profit not more than 4% drawdown)
After you pass they will give you full 40k
When you reach 10% after that they will double the account and keep double if you keep reach 10% and this time no time limit for reach the 10%
Of course they charge you one time fees if you want to take the test.
But imho it's better than using your own capital.
In my calculation, If you wanna trade for living (low risk and tight money management) at least you need 6 figures capital.
I'm just a typical person with normal day job and realize 6 figures capital is impossible for me.

There are many kind of remote prop firm out there and I just explain the prop firm that I interested above.
Try to search prop firm like FTMO, Traders4Traders, Funded-Traders, Apiaryfund, The5er etc
And read the rules that suite your trading style.

How did you know they are not legit? They not base on Malaysia because only big investment bank allow to trade forex in Malaysia. Kindly check their website first if you want to comments like this. Even you found a prop firm on jobstreet their requirement is very high on education level + your tight money management 2-year track records.

6%? how come not to pass

Other prop firm other rules some offer up to 10% drawdown, just need to find rules that meet your trading styles. Just keep looking and asking.

This post has been edited by e_X: Sep 25 2019, 09:30 PM

Fyi, you need to pass their test first before they give you a fully funded account and it's not typical 9-5 day job, it's a remote prop firm. You can trade their account anywhere, at home while wearing your boxer.

It's not best if you cant a afford a capital for living.

Forex is always for rich people games, rich people use big capital. But some rich people don't have time to trade that's why they find a prop trader.

If I got USD1400, I rather use some of that for taking test for the prop firm.

Example

Prop firm one-time test fees for USD50k is USD500 when you pass the profit-sharing is 50/50 every month and my account double when I reach every 10%

If I can consistently make 2% every month with USD50k account my split is 1% form USD50k that is USD500 every month and when my account double for USD100k 1% is USD1000.

IF

I trade my own capital for USD1400, I need a least 50% profit every month to reach that target.

2% or 50%-100% profit every month which is easier? That don't even count MC, loss etc

I make my choice.

20+% ROI is a logical target for any trader, worst case scenario you will lost 20+% per year and your account never MC if you have a good tight money management. But if that happen your system is not ready for that if keep losing why in the world you wanna trade people money if you have track records like that lol

The drawdown always your one time fees if you notice almost all on their website, if you hit the drawdown it's always the trader money not them, they not stupid enough to lose a single cent on test period or the test can be a simulator.

If you can make any account to 6 figures account, that is good, try to make again and again every year. But in my reality I need sum of money every month to support my daily living cost and I don't have a big capital to begin with. Unless you never withdraw your capital until hit the goals that maybe take time for a year or more.

Say my system on can make 18-20% per year, if I only can afford very small account like USD1000, that's is only like USD200 ROI, can I live on that? Even If I doubled my account it is not enough.

I only on the evaluation on some random remote prop firm out there, if I failed I will try it again and again.

And my point is you don't need a big 6 figures capital or aim with your own capital for that to trade this market for a living. There is plenty of option over there.

How many times did you blow your account from the start?

You cannot all-in like casinos lor, read tnc again, maybe 50% of your capital is allowed.

This post has been edited by e_X: Oct 2 2019, 09:47 PM

All-in

Mind share what do you do for a living. Those losses seem nothing to you.

You can open a cent account for better money management for small-scale capital.

You cannot go lower than 0.01 if using a standard account.

Still blue?

Forex is not about winning the game, it is about how to survive the long losing game.

He doesn't have an exit plan, exit plan = MC

1-2% is a reasonable risk for a big account like that if he expected the realistic profit in return.

A trader will risk more if the capital is too small but in his situation is better someone trades his capital or he invests for himself first. Find a mentor that can build a solid trading plan, tight money management and psychology to survive the long game.

A typical trader don't even have a big capital to start with, but he got that already.

Get a proper mentor, sir.

https://www.babypips.com/learn/forex

Exit fast when you are wrong and hold as long as possible when you are right, because we are playing the wrong game from the beginning.

Of course, a trader needs to backtesting and forward testing for their systems and follow their trading plan religiously because we play the long game here. Even you face losing streak should never change your backtested system and trading plan because, in the end, you will get your backtested result.

Entry a position is easy, the tough part is when you are in a losing trade and a winning trade, a trader should have an exit plan for both situations. A typical trader just "hope" the price will bounce back when they wrong and usually it's not gonna happen.