🚨Breaking News - Major Prop Firm Bailouts?!

Hey Prop Traders, here’s what is buzzing in the prop trading June 27, 2024

🗞️ TODAY’S PROP TRADING INDUSTRY NEWS

1. Breaking News- Major Prop Firm Bailouts?

2. MyFundedFutures - Same Profit Target : Drawdown Challenges Coming July 1

3. Alpha Futures Reveals 100K Challenge Terms

4. the5ers Plans Weekend Hub Upgrade

✂️ LATEST PROP FIRM DISCOUNT PROMOTIONS

• Axi Select First FREE Funded Trader Program

• APEX Trader Funding Save 80% Off Evals

• Blue Guardian 40% Off Everything

• the5ers 5% Exclusive Discount

• MyFundedFutures 20% OFF ALL Evals

• MyFundedFX 10% OFF ALL Plans

📌 PASS THE PROP TRADING TIP

Pass Your Prop Tip: Start Strong with Small Wins

Pass your prop challenge 🏆 by start strong with focusing small wins. Try your best to make sure your first few trades are winners, even if it means aiming for smaller profits with tighter risk-reward ratios. Think of these initial trades as warming up for a big game 🏀 – they set the tone for the day and get you in the groove 🎵. By securing those early gains, you build a financial cushion and boost your confidence, allowing you to let trades run or take bigger positions later on 🚀.

If those early trades don't go as planned, you might find yourself playing catch-up, trying to recover the losses for the rest of the day, which can mess with your mindset and emotions. This scramble to make it back can lead to impulsive trading decisions and high stress 😰, ultimately hurting your performance. By being very selective with your initial trades and nimble with the take profits, you can dodge this downward spiral and stay cool and collected throughout the day 🧘‍♂️.

Remember, in prop challenges, consistency and risk management are key 🔑. Start your day with some solid, smaller wins to set a fun and positive foundation for success. Happy trading! 💸

🔥 TRADING TIPS

🎓 PROP TRADING LINGO

What’s is Scaling? 🚦

Prop firm scaling is a structured way for traders to boost their trading capital and leverage based on performance. Here's a quick breakdown:

Initial Funding and Evaluation 🎯

When a trader first joins a prop firm, they usually start with a set amount of capital after passing an evaluation phase or challenge. This phase tests the trader's ability to meet profit targets while adhering to specific risk management rules.

Performance-Based Scaling 📈

Once the trader passes the initial evaluation and starts trading live, their performance is closely monitored. Key factors that influence scaling include:

• Consistency: Regular profits without significant drawdowns.

• Risk Management: Adherence to risk parameters like maximum drawdown, daily loss limits, and position sizing.

• Profitability: Achieving and surpassing profit targets.

Scaling Up 🚀

If a trader demonstrates consistent profitability and proper risk management, the prop firm may increase their trading capital. This process is often done in stages. Incremental increases involve raising capital by a set percentage or amount after meeting predefined performance milestones (e.g., monthly profit targets). In some cases, capital may be doubled after several consecutive profitable months.

Drawdown and Continual Assessment 🔄

If losses occur or risk rules are broken, capital may be reduced. Prop firms continually assess performance to decide on further scaling or de-scaling, ensuring traders stay on track. This ensures that traders who maintain good performance can continue to grow their capital, while those who struggle can work on improving their strategies.

Example of a Scaling Plan 📊

• Initial Funding: $50,000

• Milestone 1: After achieving a 10% profit with no more than a 5% drawdown, capital is increased to $75,000.

• Milestone 2: After another 10% profit with similar risk management, capital is increased to $100,000.

• Milestone 3: If the trader continues to perform well, the capital could be increased to $150,000, and so on.

Prop firm scaling rewards disciplined trading. Gradual capital increases based on performance help traders grow their accounts while focusing on risk management, benefiting both the trader and the firm. 🌟📈

📋 PROP FIRMS THAT OFFER FREE DEMOS

1. Axi Select (Global Broker Prop Offering)

2. FTMO (4.8 ❇️ Trustpilot)

3. E8 Markets (4.6 ❇️ Trustpilot)

4. City Traders Imperium (4.5 ❇️ Trustpilot)

5. Alpha Capital Group (4.5 ❇️ Trustpilot)

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