The Prop Trader Challenge

Nov 24, 2010
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#1
It’s an ambition of mine to obtain a Prop Trader position by 2013 end. I’ve spoken to some firms and have been informed that as a Prop Trader I would need to double my account every year, which I average to 10% every four weeks (allowing for holidays, slow periods etc). So this is the standard I am targeting in order to obtain and hold a Prop Trader account.

This blog will detail the trials, tribulations and hopefully triumphs, of my Prop Trader endeavour.


I’ll be trading only Forex, using 3 strategies, which I will refer to as: renko, 5M, and PA.


Renko uses a brick size of 5 on AUDUSD and EURUSD.

5M uses levels that I have developed and PA at those levels, on EURUSD only.
PA uses S/R and PA on the 240M TF, on 30 or so different pairs.

Each strategy is in development. And it may turn out that a strategy or 2 prove to be unprofitable. Plus I’m learning as I go, so there will be errors. But hopefully at the end I’ll have developed a strategy with an edge, and just as importantly, an edge that I am capable of wielding.


I’ll post trades I’m in as close to real time as humanely possible. And tally results each week or perhaps month.


So this is
The Prop Trader Challenge, wish me luck.
:)
 
Last edited:

malaguti

Well-known member
Nov 3, 2009
2,239
414
93
#2
It’s an ambition of mine to obtain a Prop Trader position by 2013 end. I’ve spoken to some firms and have been informed that as a Prop Trader I would need to double my account every year, which I average to 10% every four weeks (allowing for holidays, slow periods etc). So this is the standard I am targeting in order to obtain and hold a Prop Trader account.

This blog will detail the trials, tribulations and hopefully triumphs, of my Prop Trader endeavour.


I’ll be trading only Forex, using 3 strategies, which I will refer to as: renko, 5M, and PA.


Renko uses a brick size of 5 on AUDUSD and EURUSD.

5M uses levels that I have developed and PA at those levels.
PA uses S/R and PA on the 240M TF.

Each strategy is in development. And it may turn out that a strategy or 2 prove to be unprofitable. Plus I’m learning as I go, so there will be errors. But hopefully at the end I’ll have developed a strategy with an edge, and just as importantly, an edge that I am capable of wielding.


I’ll post trades I’m in as close to real time as humanely possible. And tally results each week or perhaps month.


So this is
The Prop Trader Challenge, wish me luck.
:)
Ahh Renko, ever since moving to Updata for their P&F I have lost the ability to chart Renko. Very best of luck to you
 

babymonkey

Active member
Dec 4, 2011
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#7
This is a very fun thread so far. Thanks for sharing jungles, and best of luck to you! BTW I just took the same trade, but in the other direction... :)
 
Nov 24, 2010
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#10
thank you, these 3 strategies are newly developed, i want to see if i can trade them as they are

nevertheless, that trade was an error.......hopefully the last time i short into support :)

Good Game. Better luck next time. Listen I am admittedly a newb, but I think that when playing things so close >= 10 pips, that you need to look at the daily pivot more than the trend.