FROM ZERO TO 250K DOLLARS: insights on successful prop firm trading from @paladinbhutia latest interview.
What I learnt and what you can apply no matter your style of trading.
🧵Thread

Trading is about having an edge,having the right risk management mindset and having enough capital to trade.
Flipping accounts is a high risk high reward technique. It's the same thing as gambling.
3. He talked about changing is mindset. "Isolate to elevate"
while I don't totally agree with this quote. I believe what's very important is keeping only friends that are traders also and understand what you do.
Paladin talked about how he was constantly on the charts learning and improving is skill set. Instead if going out partying and chasing girls.
Paladin system is a very simple system, he risks 0.5% to 1% targeting like 1-2 risk reward ratio.
. In my own personal journey into trading I always wanted to make big money all trades. I'll end up giving back All my profits to the market
Back to paladin
Maximum 2 losses in a day,maximum 4 losses in a week.
Once we take two looses, we tend to want to revenge this loses and make the money back. I personally have fell for this trap. Close your computer after two looses in a day.
6. Your goal is to survive before you thrive:
In an industry where 90% of people fail.
Once you've made some money from tht investment then you can up your risk.
With a 1-2 risk reward. He his able to get out of a loosing streak fast.
I'll personally incorporate this in my trading and give feedbacks
When you make your analysis it is more likely to catch a part of the move than the entire move. It increases your accuracy.
As long as you're catching it consistently you'll be fine
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Gbpjpy
Most successful prop traders have seen, limit the number of pairs they look at.
@paladinbhutia win rate is btw 50 to 70% depending on the market conditions.
Paladin talked about how he only takes between 3 to 6 setups in a week.
Sitting on your hands in trading is magical. I'll ask you to try
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