Hey guys and gals,
I know most of you use a prop firm for your trades and as you know I strongly recommend this for the first four years of your trading.
But the market has changed, and with this change we must adapt how we trade.
Trading 1 or 2 ES contracts on a 100k account is now account suidcide, the volatiltiy means that our stops need to be at least 10 pts and with only a 60 pt drawdown you will never become consistent trading that size! So I have been trading 1 or 2 ES in 300k accounts and it has made a huge difference to me.
In the 100k accounts I now only trade 2 to 4 MES. Remember - it should never be about the money, it is all about the points. Collect the points and the money will come!
I use Apex to trade and these are the account sizes and position sizes I recommend:
50k account → 1 or 2 MES
100k account → 2 to 4 MES
150k account → 5 to 8 MES
300k account → 1 to 2 ES
All my work is free but if you want to support me by using my token use code WALNUTS
To understand why using a prop firm can help you, I recommned you read Seeking a Life of FIRE. Or have a read of my prop trading guide:
What is prop trading? - A basic introduction
Is prop trading a scam? - Why are so many people afraid for them?
Risk Management - How do mitigate against big losses
Comparing Prop Firms - Which is really the best for retail?
The Holy Grail - What is the end goal of being a prop firm trader?
Much Love,
PW