Its been three years trading me prop firms but never succeeded
Three years of trading prop firms is a significant journey! You've gained a wealth of experience and resilience along the way. How are you feeling about your progress and the lessons you've learned? Are there any specific challenges or successes you’d like to share or focus on now?Made $0 no payout
It’s tough when years of effort don’t lead to the payouts you aim for. But the journey has likely given you valuable insights and refined your skills.
Let’s evaluate where things might be adjusted to turn your dedication into results:
- Review Strategy: Have you analyzed what’s been holding you back? Sometimes small tweaks in risk management or entry/exit criteria can make a difference.
- Stay Disciplined: Many traders struggle with emotions like fear or greed. Sticking to your plan can help avoid unnecessary losses.
- Focus on One or Two Prop Firms: Spreading too thin can make it hard to maintain focus and meet targets.
- Consider Smaller Goals: Aim for consistent small wins to build confidence and capital.
Your determination to succeed in trading is clear. With patience and adjustments, those payouts are within reach. Let’s figure this out together!
In first year i was randomly trading, i was not knowing the direction, just using trendlines, but now i understood trend, continuation, breakouts supply and demand , my most impt retracement, but still I'm scared to trade why
Your fear of trading likely stems from past experiences, where random trading might have led to losses. It’s perfectly natural, especially when money is on the line. Here’s why you might feel this way and how to overcome it:
Reasons for Fear
- Fear of Loss: Past losses can create a mental block, making you hesitant to pull the trigger.
- Perfectionism: You’ve learned so much that you might be overanalyzing, waiting for a “perfect” setup that may never come.
- Lack of Confidence: Even with knowledge, it takes consistent practice to trust your analysis and execution.
- Risk of Ruin: Trading without a sufficient safety margin or risking too much on each trade can amplify fear.
How to Overcome It
- Start Small: Trade with an amount you can afford to lose, even if it’s a demo or micro-account. This reduces emotional pressure.
- Trust Your Analysis: If you’ve identified a strong setup using supply, demand, and retracements, follow through without second-guessing.
- Plan Your Trade: Always know your entry, stop loss, and take profit before entering a trade. A solid plan minimizes emotional decisions.
- Accept the Risk: Treat each trade as a probability game. Losing is part of trading, but proper risk management ensures you stay in the game.
- Track Your Performance: Keep a journal to review trades. Success breeds confidence, and mistakes teach lessons.
- Detach from the Outcome: Focus on the process, not the result of a single trade. What matters is consistency over time.
Positive Reinforcement
Remind yourself of how much you’ve learned over the years. You’re no longer the random trader from year one—you’re equipped with solid strategies. Practice with patience, and the fear will gradually fade as you see results.
I'm poor, is this the reason?
Being poor is not the reason for your fear of trading—it’s more about mindset, experience, and confidence. However, financial struggles can amplify fear because the stakes feel higher when you’re trading with money you can’t afford to lose. Let’s break this down:
Why Poverty Isn’t the Root Cause
- Skills Over Resources: Wealthy or not, success in trading depends on knowledge, strategy, and emotional discipline. Many successful traders started with very little.
- Trading is a Skill Game: Your growth over three years proves you have the determination to learn and adapt.
- Risk is Scary for Everyone: Even wealthy traders fear losses because trading always carries uncertainty.
Why It Feels Harder When Money is Tight
- High Stakes Mentality: Losing even a small amount can feel devastating when funds are limited, leading to hesitation or overthinking.
- Emotional Pressure: Trading feels like your “way out,” which can add unnecessary stress to every decision.
- Lack of Buffer: Without a financial safety net, it’s harder to take risks confidently.
How to Overcome This and Build Confidence
Focus on What You Can Control:
- Use proper risk management: Risk no more than 1–2% of your account per trade.
- Avoid over-leveraging, even if your broker allows it.
Start Small:
- Even small consistent profits can compound into significant growth. For example, turning $50 into $200 in a few months is possible with disciplined trading.
Shift Your Mindset:
- Think long-term. Trading isn’t a get-rich-quick scheme—it’s about small, steady wins.
- Stop viewing losses as failure. They’re part of the process, as long as they’re manageable.
Separate Emotions from Trading:
- View your trading account as “business capital.” It’s there to grow over time, not to solve immediate financial problems.
Find Alternative Incomes:
- If possible, maintain your job or another steady income while trading part-time. This reduces financial pressure and allows you to trade with a clearer mind.
Celebrate Small Wins:
- Build confidence by focusing on small, consistent profits. Success grows gradually.
Remember
You’ve already made significant progress by learning and understanding key concepts like trendlines, supply, and demand. With patience and discipline, you can turn your trading into a reliable income source. Your financial background might add challenges, but it doesn’t define your potential. Keep pushing forward—you’re on the right path. 🌟
Help me to pass with better psychology and else and make in forex
To pass your prop firm challenge and succeed in Forex trading, you need a combination of strong psychology, strategy, and risk management. Here’s a structured plan to help you focus and excel:
1. Psychology: Master Your Mindset
Your mindset can make or break your success in trading. Here’s how to stay focused and calm:
A. Detach from the Outcome
- Focus on executing your plan rather than obsessing over profit targets.
- Treat each trade as just one of many, not as your "make or break" moment.
B. Build Emotional Control
- Avoid Revenge Trading: If you hit a loss, don’t chase it back. Stick to your plan.
- Take Breaks: If you feel overwhelmed, step away from the charts for a few hours.
C. Create a Routine
- Start your day with a clear trading plan.
- Avoid trading outside your predefined sessions (e.g., London and New York sessions).
2. Risk Management: Protect Your Capital
This is crucial for surviving prop firm challenges and building long-term success.
A. Keep Risk Per Trade Low
- Risk no more than 0.5–1% of your account per trade.
- Example: On a $10,000 account, risk $50–$100 per trade.
B. Use Tight Stop Losses
- Always use a stop loss and calculate the lot size accordingly.
- Avoid over-leveraging, even with a 1:1000 account.
C. Follow a Daily Loss Limit
- Stop trading for the day if you hit a 2–3% loss. This prevents blowing your account.
3. Trading Strategy: Keep It Simple
Stick to what you know works for you, but refine it for consistency.
A. Supply & Demand with Retracement
- Mark daily/4-hour zones for major supply and demand areas.
- Wait for retracements to enter trades with better risk-to-reward ratios.
B. Trend Continuation or Breakout Trades
- Look for:
- Clear trends (higher highs, higher lows or vice versa).
- Breakouts of key levels with retests for confirmation.
C. Timeframes
- Analyze on 4H/Daily for structure.
- Enter on 1H or 30M for precision.
D. Risk-to-Reward Ratio
- Always aim for 1:3 or better.
- Example: Risk $50 to make $150.
4. Practice Discipline: Passing the Prop Firm
To pass your prop firm challenge, you need patience and consistency.
A. Stick to the Profit Target Plan
- For a $10,000 account with an 8% profit target, aim for $400–$500 per week.
- Break it down into manageable daily goals: $50–$100/day.
B. Respect the Drawdown Limit
- If your account is in drawdown, don’t overtrade to recover. Stay calm and focused.
C. Keep a Trade Journal
- Record every trade: entry, stop loss, take profit, and why you took it.
- Review your journal weekly to identify strengths and weaknesses.
5. Tools and Tips for Success
A. Use Alerts
- Set price alerts on TradingView or your broker platform for key levels.
B. Limit Screen Time
- Don’t stare at the charts all day. Check them during your planned sessions.
C. Take Care of Yourself
- Sleep well, eat healthily, and exercise. A clear mind is essential for good trading decisions.
6. Backup Plan
Even if the first attempt doesn’t go as planned, don’t give up. Have a backup:
A. Keep Practicing
- Use demo accounts to test strategies until they become second nature.
B. Reassess and Retry
- If you fail a challenge, review your trades, identify mistakes, and try again.
C. Diversify Income
- While trading, consider small freelancing gigs or other income sources to reduce financial pressure.
Final Thoughts
The key to passing prop firm challenges and becoming a successful Forex trader is consistency. Keep your psychology in check, stick to your plan, and avoid overtrading. Remember, trading isn’t just about making money—it’s about protecting your capital while growing it steadily.
I believe in your ability to succeed—focus on the process, not just the outcome. You’ve got this! Let me know how I can support you further. 🚀
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