Aliassmith Beats a "Dead Horse"

[Lvup7]

I tested The Prop Trading.

Its a $50k demo for 2 weeks
Target for a full challenge is 8%
Max Drawdown is 10%
Max Daily Drawdown is 5%

I traded 7 days you must trade at least 10 days in a regular challenge. All trades done on my Note 10 phone MT5 app.

Someone ask why would you trade with a prop firm.

If you extrapolate my results to a full month that is about $8000 on a $50k account. This firm allows up to $500k so that would be a $80k return then you get to keep $64k in a month.

I read this and something came to mind. I have come across some Youtube mentors that trade live with their groups. There is one in particular that trades $200 a pip with market orders. Now the thing that doesn't make sense to me as I am following along the live chat, the group members are also entering at the same price with heavy lots $200+, there are atleast 1000 members and say for instances 200 of them enter heavy that the same price wouldn't they adversely effect the price move against their own buying/sell?

[aliassmith]

I tested The Prop Trading.

Its a $50k demo for 2 weeks
Target for a full challenge is 8%
Max Drawdown is 10%
Max Daily Drawdown is 5%

I traded 7 days you must trade at least 10 days in a regular challenge. All trades done on my Note 10 phone MT5 app.

Someone ask why would you trade with a prop firm.

If you extrapolate my results to a full month that is about $8000 on a $50k account. This firm allows up to $500k so that would be a $80k return then you get to keep $64k in a month.

I read this and something came to mind. I have come across some Youtube mentors that trade live with their groups. There is one in particular that trades $200 a pip with market orders. Now the thing that doesn't make sense to me as I am following along the live chat, the group members are also entering at the same price with heavy lots $200+, there are atleast 1000 members and say for instances 200 of them enter heavy that the same price wouldn't they adversely effect the price move against their own buying/sell?

Can't say I've seen that channel.
Depends on if they trade at the same broker
Also depends on liquidity in the area.
I have seen a lot of slippage with something similar

[aliassmith]

So you basically "work" for someone else until you have $500k, pay ur taxes, and cut ties.
Then hire Green trader tax guy. lol

Maybe should hire him first.

After you recieve your first payout they assume all the risk. Ill let them have 20% for that.

$500k isnt the max, you can be up to $1 million in a year. Ya Ill keep my money under the matress for no risk and better trade conditions. EURUSD is about .5 pips.

What risk?

Because you keep your maximum daily loss to 5%, and never go over 10% there is no risk.
It's ONLY perceived in our minds as being so which is why most of us fail.

Giving away 30% (70/30) would almost cover the taxes.

Our fears of loss and ideals about money as a species are all FU%K@D up.

I understand it's a way to "get in the game" but after our account is X, No way.
Rich people do NOT give away money for free.
Billionaires pay 2% or LESS in taxes
That's what rich AND smart people do.
Not give away 30% because they are scared.

Gotcha its a conspiracy its all in my mind and I'm scared.
We don't need to discuss it further I only hope you get out of your own way at some point.

All I know (for a fact, not based on emotion) is OPM has been a thing for a long time and the Smart/Rich do in fact use it. OPM is power/leverage. I'm not here to give a MBA level dissertation on it. OPM is used in Banking, Finance, Real Estate, along with other businesses. Most Millionaires and Billionaires take advantage of it or at least have at some point.

I'm only here to provide incite on things I've learned. If you have intrest in anything I present, I only ask you do your own due diligence.

You can lead a dead horse to water but you can't make him drink.

[prochargedmopar]

After you recieve your first payout they assume all the risk. Ill let them have 20% for that.

$500k isnt the max, you can be up to $1 million in a year. Ya Ill keep my money under the matress for no risk and better trade conditions. EURUSD is about .5 pips.

What risk?

Because you keep your maximum daily loss to 5%, and never go over 10% there is no risk.
It's ONLY perceived in our minds as being so which is why most of us fail.

Giving away 30% (70/30) would almost cover the taxes.

Our fears of loss and ideals about money as a species are all FU%K@D up.

I understand it's a way to "get in the game" but after our account is X, No way.
Rich people do NOT give away money for free.
Billionaires pay 2% or LESS in taxes
That's what rich AND smart people do.
Not give away 30% because they are scared.

Gotcha its a conspiracy its all in my mind and I'm scared.
We don't need to discuss it further I only hope you get out of your own way at some point.

All I know (for a fact, not based on emotion) is OPM has been a thing for a long time and the Smart/Rich do in fact use it. OPM is power/leverage. I'm not here to give a MBA level dissertation on it. OPM is used in Banking, Finance, Real Estate, along with other businesses. Most Millionaires and Billionaires take advantage of it or at least have at some point.

I'm only here to provide incite on things I've learned. If you have intrest in anything I present, I only ask you do your own due diligence.

You can lead a dead horse to water but you can't make him drink.

You do know that when you are successfully pulling $8k a month out of the account they are laughing all the way to the Bank.
Very sure they have accounts linked to that demo with MILLIONS in them.
They might as well give you 100% profits as the 30% is like lunch money, if that.

Yes, pretty much all successful people (except maybe Dave Ramsey, LOL) use OPM.
No doubt.
They also pay very LITTLE in taxes. Lots more than you or I but as a %, no way.

Maybe it's like a "reverse oasis" Hahahhaha,
This dudes a nut.

[prochargedmopar]

After you recieve your first payout they assume all the risk. Ill let them have 20% for that.

$500k isnt the max, you can be up to $1 million in a year. Ya Ill keep my money under the matress for no risk and better trade conditions. EURUSD is about .5 pips.

What risk?

Because you keep your maximum daily loss to 5%, and never go over 10% there is no risk.
It's ONLY perceived in our minds as being so which is why most of us fail.

Giving away 30% (70/30) would almost cover the taxes.

Our fears of loss and ideals about money as a species are all FU%K@D up.

I understand it's a way to "get in the game" but after our account is X, No way.
Rich people do NOT give away money for free.
Billionaires pay 2% or LESS in taxes
That's what rich AND smart people do.
Not give away 30% because they are scared.

Gotcha its a conspiracy its all in my mind and I'm scared.
We don't need to discuss it further I only hope you get out of your own way at some point.

All I know (for a fact, not based on emotion) is OPM has been a thing for a long time and the Smart/Rich do in fact use it. OPM is power/leverage. I'm not here to give a MBA level dissertation on it. OPM is used in Banking, Finance, Real Estate, along with other businesses. Most Millionaires and Billionaires take advantage of it or at least have at some point.

I'm only here to provide incite on things I've learned. If you have intrest in anything I present, I only ask you do your own due diligence.

You can lead a dead horse to water but you can't make him drink.

BTW
I'm seriously pondering this option and it looks great to me from afar.
But,
I MUST prove I can be successful on a demo acct before ever throwing my hat into the challenge.

[aliassmith]

What risk?

Because you keep your maximum daily loss to 5%, and never go over 10% there is no risk.
It's ONLY perceived in our minds as being so which is why most of us fail.

Giving away 30% (70/30) would almost cover the taxes.

Our fears of loss and ideals about money as a species are all FU%K@D up.

I understand it's a way to "get in the game" but after our account is X, No way.
Rich people do NOT give away money for free.
Billionaires pay 2% or LESS in taxes
That's what rich AND smart people do.
Not give away 30% because they are scared.

Gotcha its a conspiracy its all in my mind and I'm scared.
We don't need to discuss it further I only hope you get out of your own way at some point.

All I know (for a fact, not based on emotion) is OPM has been a thing for a long time and the Smart/Rich do in fact use it. OPM is power/leverage. I'm not here to give a MBA level dissertation on it. OPM is used in Banking, Finance, Real Estate, along with other businesses. Most Millionaires and Billionaires take advantage of it or at least have at some point.

I'm only here to provide incite on things I've learned. If you have intrest in anything I present, I only ask you do your own due diligence.

You can lead a dead horse to water but you can't make him drink.

You do know that when you are successfully pulling $8k a month out of the account they are laughing all the way to the Bank.
Very sure they have accounts linked to that demo with MILLIONS in them.
They might as well give you 100% profits as the 30% is like lunch money, if that.

Yes, pretty much all successful people (except maybe Dave Ramsey, LOL) use OPM.
No doubt.
They also pay very LITTLE in taxes. Lots more than you or I but as a %, no way.

Maybe it's like a "reverse oasis" Hahahhaha,
This dudes a nut.

You do know I am also laughing all the way to the bank. I made money using little of my own.
Basically I just got a McDonald's franchise (or 3) with very little out of pocket. Sure you have to run the business
but they bought the building, the equipment, the food and the advertising. Thats why they get the 30%.

Some McDonald's franchise owners are naturally going to make more than others, but most franchise owners still pull in an estimated yearly profit of roughly $150,000 (via Fox Business).

According to Business Insider, the initial investment is between $1 million and $2.2 million

In the end ( comparing income) I got 3 McDonald franchises for a few grand! The POWER of OPM baby!

[aliassmith]

What risk?

Because you keep your maximum daily loss to 5%, and never go over 10% there is no risk.
It's ONLY perceived in our minds as being so which is why most of us fail.

Giving away 30% (70/30) would almost cover the taxes.

Our fears of loss and ideals about money as a species are all FU%K@D up.

I understand it's a way to "get in the game" but after our account is X, No way.
Rich people do NOT give away money for free.
Billionaires pay 2% or LESS in taxes
That's what rich AND smart people do.
Not give away 30% because they are scared.

Gotcha its a conspiracy its all in my mind and I'm scared.
We don't need to discuss it further I only hope you get out of your own way at some point.

All I know (for a fact, not based on emotion) is OPM has been a thing for a long time and the Smart/Rich do in fact use it. OPM is power/leverage. I'm not here to give a MBA level dissertation on it. OPM is used in Banking, Finance, Real Estate, along with other businesses. Most Millionaires and Billionaires take advantage of it or at least have at some point.

I'm only here to provide incite on things I've learned. If you have intrest in anything I present, I only ask you do your own due diligence.

You can lead a dead horse to water but you can't make him drink.

BTW
I'm seriously pondering this option and it looks great to me from afar.
But,
I MUST prove I can be successful on a demo acct before ever throwing my hat into the challenge.

Get that Demo!
So you say you got the entries on lock ok fine
You should risk 1 lot per $20K I've seen your trades its a good starting point.
Always take your best looking entries.
Set a TP for 1.5X
Do this for at least 100 trades then evaluate your numbers
You said you think too much when trading. This takes a lot of the thinking out.
NO recoveries
NO Trade management
Always risk the same 1 lot per 20k

Watch this video PRO, don't worry about his strategy. Pay attention to the other stuff.
https://www.youtube.com/watch?v=nmffSjdZbWQ

[Lvup7]

Gotcha its a conspiracy its all in my mind and I'm scared.
We don't need to discuss it further I only hope you get out of your own way at some point.

All I know (for a fact, not based on emotion) is OPM has been a thing for a long time and the Smart/Rich do in fact use it. OPM is power/leverage. I'm not here to give a MBA level dissertation on it. OPM is used in Banking, Finance, Real Estate, along with other businesses. Most Millionaires and Billionaires take advantage of it or at least have at some point.

I'm only here to provide incite on things I've learned. If you have intrest in anything I present, I only ask you do your own due diligence.

You can lead a dead horse to water but you can't make him drink.

You do know that when you are successfully pulling $8k a month out of the account they are laughing all the way to the Bank.
Very sure they have accounts linked to that demo with MILLIONS in them.
They might as well give you 100% profits as the 30% is like lunch money, if that.

Yes, pretty much all successful people (except maybe Dave Ramsey, LOL) use OPM.
No doubt.
They also pay very LITTLE in taxes. Lots more than you or I but as a %, no way.

Maybe it's like a "reverse oasis" Hahahhaha,
This dudes a nut.

You do know I am also laughing all the way to the bank. I made money using little of my own.
Basically I just got a McDonald's franchise (or 3) with very little out of pocket. Sure you have to run the business
but they bought the building, the equipment, the food and the advertising. Thats why they get the 30%.

Some McDonald's franchise owners are naturally going to make more than others, but most franchise owners still pull in an estimated yearly profit of roughly $150,000 (via Fox Business).

According to Business Insider, the initial investment is between $1 million and $2.2 million

In the end ( comparing income) I got 3 McDonald franchises for a few grand! The POWER of OPM baby!

I am loving this back and forth. Its a damn ingenious business model for the prop firms. I am sure we'll see many more immerging in the coming years. Along with lucrative chase flow coming in from profitable traders, they are probably covering part of there operating costs from all the failed challenges. I know someone personally that already failed 3, $697 challenges, now times that by 1 thousands it all adds up.

That being said, from the trader's perspective I would agree with aliassmith. Risking OPM is not the same as risk your own cash. For a second lets not focus on giving up profits, and look at what you have to lose. At the Top tier with a $500k you can lose up to 40k. How would it feel if you lost 40k of your own money risking 3% in a few trades?

The firm also assumes major risk. Just imagine 500 trades loaded heavy on particular currency pair, some black swan event happens in the market which no body could predict. Trader walks away feeling about the blown account , the firm likely go down.

[aliassmith]

You do know that when you are successfully pulling $8k a month out of the account they are laughing all the way to the Bank.
Very sure they have accounts linked to that demo with MILLIONS in them.
They might as well give you 100% profits as the 30% is like lunch money, if that.

Yes, pretty much all successful people (except maybe Dave Ramsey, LOL) use OPM.
No doubt.
They also pay very LITTLE in taxes. Lots more than you or I but as a %, no way.

Maybe it's like a "reverse oasis" Hahahhaha,
This dudes a nut.

You do know I am also laughing all the way to the bank. I made money using little of my own.
Basically I just got a McDonald's franchise (or 3) with very little out of pocket. Sure you have to run the business
but they bought the building, the equipment, the food and the advertising. Thats why they get the 30%.

Some McDonald's franchise owners are naturally going to make more than others, but most franchise owners still pull in an estimated yearly profit of roughly $150,000 (via Fox Business).

According to Business Insider, the initial investment is between $1 million and $2.2 million

In the end ( comparing income) I got 3 McDonald franchises for a few grand! The POWER of OPM baby!

I am loving this back and forth. Its a damn ingenious business model for the prop firms. I am sure we'll see many more immerging in the coming years. Along with lucrative chase flow coming in from profitable traders, they are probably covering part of there operating costs from all the failed challenges. I know someone personally that already failed 3, $697 challenges, now times that by 1 thousands it all adds up.

That being said, from the trader's perspective I would agree with aliassmith. Risking OPM is not the same as risk your own cash. For a second lets not focus on giving up profits, and look at what you have to lose. At the Top tier with a $500k you can lose up to 40k. How would it feel if you lost 40k of your own money risking 3% in a few trades?

The firm also assumes major risk. Just imagine 500 trades loaded heavy on particular currency pair, some black swan event happens in the market which no body could predict. Trader walks away feeling about the blown account , the firm likely go down.

Other points to consider. If you live in the US they regulate everything forex/cfd to the point where there are no options.

The trading conditions are better at the couple of places Ive looked at.
The EURUSD is about a half pip spread +commission.
The GBPJPY is about 1 pip
You don't get that with Oanda

You can trade cfd and crypto (I don't prefer trading crypto)

You can trade 100:1 leverage (I'm usually fine with 10x)

NO FIFO conditions
Hedging is allowed

There are Cons to the firms and they vary
No news trading
No over weekend holding
Limited drawdown (I don't see it as a bad thing)

In the end if it fits your trading style then It could be a good thing. With a few thousand dollars I can replace my account with theirs.

[aliassmith]

Being undercapitalized for trading is one significant reason people don't make it in this business. I know from my experience it is easier to make 100%+ a year than adding zeros trying to flip an account because you want a lot of money and you only have $2000.

Adding zeros is possible but you have to get lucky and be a top tier trader.

If you are a profitable 3% to 10% a month trader you can make a living being capitalized well.

3% a month after split is about $150,000 a year.
Same as a Doctor
Same as a McDonald's franchise owner

Its funny if you mention 3% net gain a month you get laughed off most forums. Yet in the Business/Finance/Real estate world you are considered a master. I was researching a woman who started a hedge fund. She made 40% in a year and rich people threw money at her.