💰What are Best July Prop Firm Discounts?

Hey Prop Traders, here’s are some valuable tips, terms explained and prop firm news for July 2, 2024

🗞️ TODAY’S PROP TRADING INDUSTRY NEWS

1. MyFundedFutures Launches New Starter Programs

2. Alpha Futures Officially Launches July 1st

3. GFT Plans New Challenge with 12% Max DD

✂️ LATEST PROP FIRM DISCOUNT PROMOTIONS

• Axi Select First FREE Funded Trader Program

• APEX Trader Funding Save 80% Off Evals

• MyFundedFX 25% OFF ALL Plans

• Oanda Prop Trader 25% Off

• Blue Guardian 25% off Everything

• Goat Funded Traders 15% Off 72 Hours Only

• Funded Trading Plus July 4th Sale 15% Off All Evals

• The5ers 5% Exclusive Discount

 📈 TRADING PSYCHOLOGY

Time Stops - One of the Greatest Risk Control Tools

Trading is timing ⏱️, so goes the old adage, and when it comes to intraday trading, that's certainly never been truer than now. We spend all our days and nights perfecting the timing of our trades. We write algos, we test strategies, we pour over charts. 📉🕵️‍♂️

But 99.9% of our time, retail traders focus on entries. 🛑 Exits are always relegated to price. We look to trade with fixed exits, scale out exits, scaled-in exits, and every trick imaginable in inventory management.

Except one. 🧩

Very few traders focus on time stops ⏰ -- using time rather than price to exit the trade that hasn't hit the take profit. Yet time stops may be one of the greatest risk control tools in the markets that is the least utilized. 💡

One of the greatest examples of a time stop comes from Jack Schwager's Market Wizards interview of Paul Tudor Jones. The interview takes place in the wake of the 1987 Stock Market Crash (still the biggest single-day decline ever), and PTJ spends most of the conversation essentially talking about the end of the world as he presents reason after reason for being short. A few weeks later, Schwager catches up with Jones and, much to his surprise, discovers that PTJ is no longer short. 📉🔍 Jones tells him that he always uses a time stop along with the price stop, and when his 1929 analog model did not confirm his thesis, he got out. 🚪

Contrast that behavior with Robert Prechter, who at the time was considered to be the greatest market analyst alive. He had predicted the bull market of the 1980s, but after the '87 crash, turned bearish and stayed bearish through Dow 4,000, Dow 10,000, and Dow 20,000 -- kid you not. 🚀📉

A time stop is essentially a check on your ego, which is why it is such a powerful tool of risk control. 🧠 Will you miss out on some profit if you use a time stop? No doubt. Will you escape many unnecessary stop outs? 100%. ✅🏃‍♂️

SPONSORED BY AXI SELECT

TRADE REAL FUNDS WITH A BROKER THAT OFFERS FREE PROP FUNDING

🔥 TRADING TIPS

🎓 PROP TERMS EXPLAINED

What is the Consistency Trading Rule?

DEFINITION: Some prop firms have a consistency rule that states no single trading day can make up more than a certain percent of your total profit. This percentage varies by firm and can range from 30% to 45% 📊

Example: Let's say you're a trader at XYZ Proprietary Trading Firm, and they have a consistency rule where no single trading day can make up more than 40% of your total profit.

Here's an example to illustrate how this rule works:

Suppose your total profit for the week is $10,000.

According to the firm's rule, no single trading day can contribute more than 40% of this total profit.

• Monday: You make $4,000 in profit. 💰
• Tuesday: You make $3,000 in profit. 💰
• Wednesday: You make $2,000 in profit. 💰
• Thursday: You make $500 in profit. 💰
• Friday: You make $500 in profit. 💰

Now, let's calculate the percentage of profit each day contributes to the total profit:

• Monday: $4,000 / $10,000 = 40% 📈 
• Tuesday: $3,000 / $10,000 = 30% 📈 
• Wednesday: $2,000 / $10,000 = 20% 📉 
• Thursday: $500 / $10,000 = 5% 📉 
• Friday: $500 / $10,000 = 5% 📉 

In this example, no single trading day exceeds the 40% limit set by the firm's consistency rule.

However IF you make $6000 one day and only $1000 the following days, the consistency rule will be breached and you will not pass the challenge. ❌

⚡ PROP FIRM FEATURE

SPONSORED BY AXI SELECT

TRADE PROP WITH REAL FUNDS, LIVE ACCOUNTS

✅ Designed to Help Prop Traders Succeed
✅ A Broker
✅ First 100% Free Funded Trader Program
✅ No Demo or Virtual Funds. Live Accounts, Real Funds
✅ No Registration or Monthly Fees
✅ Earn Up to 90% of Profits
✅ Trade up to USD $1 Million
✅ You Can Trade the $500 Broker Account Deposit & Withdraw
✅ Unrestrictive Trading Conditions, EAs & News Trading Welcome

 TRADE PROP WITH REAL FUNDS AXI SELECT

📋 PROP FIRMS THAT ALLOW WEEKEND HOLDING

1. Axi Select (Global Broker Prop Offering)

2. FTMO (4.8 ❇️ Trustpilot)

3. The5ers (4.8 ❇️ Trustpilot)

4. Funded Trading Plus (4.8 ❇️ Trustpilot)

5. E8 Markets (4.6 ❇️ Trustpilot)