Newbies can understand many things with them even though these are no as we can face situations on real accounts but still good helpful things specially while newbies looking for understanding of risk management which is the most important thing for newbies those are entering into trading. Emotions are always important because if they are under control then things can take good changes while peoples are on loses because there are opportunities to change your loses into profit even these are usually taking too much time but still helpful for understanding trading strategy.
Beginner traders should indeed have time to go through learning, either through a demo account as an initial trial because it can also help themselves when using a full or real account. But what needs to be understood is that it can be done over time when the deepening of his knowledge is truly mature for himself. Because emotions in trading can arise along with greed so that there is no more wise consideration until you can experience losses in the end.
Topic: Is it good for a newbie trader go for prop-firm (Read 323 times)
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
Straight answer, no. Sorry but to those that encourages you to join needs to reconsider what they've told you. I mean that this is a free market and everyone who's ambitious newbie can join and go ahead with prop firms. But this thing isn't for newbies, if you want to get into it, learn the basics as well. I am not stopping you from joining them but you're going on a war being weaponless and that's why you need to prepare for it. Maybe I am too skeptic about you since it's just a challenge then go ahead and try them, if you pass congrats but if not try again.
I mean it's a thing where you do not spend your own money, so I do not see the downside. Most online places have demo money stuff that makes you invest and trade, so if you do great then you do great, but that's about it.
This means that we are not going to do much with this, after all we are talking about something that will take a while for this to grow, so it is not really that much of a big deal on its own but at the same time nobody will give you real money to prop, it is going to be demo. Even worse, if you could actually convince someone to give you money, so you would trade on their behalf, that would be terrible, as a newbie it would be very very likely that you will lose it, and that's going to hurt you on the long term.
This means that we are not going to do much with this, after all we are talking about something that will take a while for this to grow, so it is not really that much of a big deal on its own but at the same time nobody will give you real money to prop, it is going to be demo. Even worse, if you could actually convince someone to give you money, so you would trade on their behalf, that would be terrible, as a newbie it would be very very likely that you will lose it, and that's going to hurt you on the long term.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
I heard a lot about prop firms where we have to trade with someone else's money under their rules and regulations to provide them results on a daily basis or trade basis, but first, we have to pass their test by paying the fee, too. This is good because a good trader can make money easily by prop firm as they have the knowledge, they can pass the test, they can make trades under their rules and strict environment to manage good ROI. The best thing is we can get a lot of capital here. But this is not for a newbie because, unlike an expert, a newbie first has to pass the test if he fails, then the fee for entry is gone. there is too much pressure once we even get into it because we have to trade with their money under their conditions and this can become really stressing too so for a newbie it is not the best place to walk on.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
For someone who is new in trading it is advisable for them to concentrate more on trying to improve their scale under an environment not under pressure than to put themselves under the pressure of going for prop firm challenge. There are new traders who have engaged themselves in this challenge and failed and as a result became discouraged from trading and stopped it, because they engaged in a challenge before they were even emotionally and psychologically ready to handle it. As a new Trader before you consider engaging in pop firm challenge you must not just be skillfully ready for it but also mentally and psychologically ready for it because it will put you under pressure. 
If you are ready enough, then go for it. In fact, getting into that situation is also a way of learning. But I warn you to just expect some difficulties and losses rather than profit. You can never say it was not good unless you tried. Besides, in trading, we need to explore and familiarize ourselves with the market so well. Gaining knowledge can't be easy, and so taking risks (high-risk) is quite necessary.
Let your journey continue by making steps. You will just know how trading works when you are personally doing it. And also, you are the one who can say if joining a prop firm is beneficial or not.
Let your journey continue by making steps. You will just know how trading works when you are personally doing it. And also, you are the one who can say if joining a prop firm is beneficial or not.
You can but you would have to understand the basics of trading and at least have a working strategy. Prop firm challenges will give you an advantage as a newbie trader to practice more with real account and have same felling as a live trader. I'll advice you that if you have little knowledge on trading, for now stick with demo and understand the basics first.. then when you get more experience you can buy a prop firm and try out challenges..
Once you have the ideas of basic of trading, I believe you can start earning profits with such strategy because you will know what to do that will make you not to regret for such decision you are about to take, but if you have the ideas on what you are doing as a newbie, you will surely overcome any challenge in prop firm. That is the plain truth op, make sure you have demo idea before using it to trade because if you don't have the idea before using it to trade, you will loss so much money that will make you to give up on crypto trading, and the more you are trying to recover from your losses, the more you will be losing money until you learn the basics of demo trading, just advise for you in case you want to make use of demo trading.
for sure just do it, if you already know the basic despite being newbie there's always chance, being newbie doesn't mean you're worse than the experienced one, and whether you gonna have the redeeming quality that the prop firm is looking for is different matter, just consider it as just trying things out and finding out your capability and call it a day.
but to be accepted as a trader you need to prove your worth first.
these prop firm aren't gonna be selecting random people on the street they need to know what your capabilities are and how good you are.
but to be accepted as a trader you need to prove your worth first.
these prop firm aren't gonna be selecting random people on the street they need to know what your capabilities are and how good you are.
A newbie trader that has gone through proper training and also has a good trading strategy can start up with a prop- firm account, this is a boost that can help you grow easily. Most of the successful traders I know today started with a prop- firm account. The best way to trade is by using the principle of risk management, this might require you to trade with a low lot size. Buying a two thousand dollar account with 200 dollars can be a very good way to start instead of actually trading with the 200 Dollars directly. It can be very risky this is why you must be sure of your strategy before starting it up.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
From my experience with prop firms, Prop firms aren't meant for newbie or inexperienced traders, Prop firm sole purpose is to help traders who don't have acquired the knowledge or gained the experience to trade profitably but don't have funds to trade and here prop firms come in to solving this problem for this set of traders, however they don't see any trader and fund them, you have passed through their test process to ascertain you can trade profitably before you get funded by any existing legit prop firm. 
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
Every beginner is not recommended to immediately follow the challenge in any trade because those who are still beginners are only more recommended to follow some education in order to be able to deepen their knowledge about trading before they start trying it with the amount of capital they have. But if there is a beginner who wants to immediately follow the trial or challenge in trading, it is also okay as long as he does not experience frustration or regret when his capital becomes minus or runs out because of facing a sudden price drop. So make a wise decision before you face something bad that you might not want in such a case.Newbies can understand many things with them even though these are no as we can face situations on real accounts but still good helpful things specially while newbies looking for understanding of risk management which is the most important thing for newbies those are entering into trading. Emotions are always important because if they are under control then things can take good changes while peoples are on loses because there are opportunities to change your loses into profit even these are usually taking too much time but still helpful for understanding trading strategy.
I don't think it's a good idea for a newbie to subscribe to a prop firm. Newbies need to have basic skills before aiming to make money. I agree quite alright that money is the name of this game but it shouldn't be a priority. No one buys a prop firm to learn, they do that to get more funds and earn higher than ordinarily their capital won't get for them. Why not practice on a live account of yours with the amount you're buying a prop firm with? That's what I would do.
The only way a newbie can go for a prop firm and escape getting burnt is if they've a mentor who holds their hands firmly or they've trusted persons who give them signals. Otherwise, newbies should steer clear off prop firms.
I was going to respond to this yesterday but I for slept-off and this reply is in line with what I was going to add to the discussion. The only way a newbie can go for a prop firm and escape getting burnt is if they've a mentor who holds their hands firmly or they've trusted persons who give them signals. Otherwise, newbies should steer clear off prop firms.
A newbie going for a prop firm is like wanting to run when you haven't learned to walk yet. And we know what how disastrous it is going to end for him. Subscribing to a prop firm is for experienced traders. The experienced and wise traders know that even for prop firms, it is a trap because the profit made is not 100% theirs.
Newbies should also avoid prop firms unless they understand how it works. There are prop firms that are scams and subscribing to them means a loss of their money.
In addition to this, even the so called experienced traders are losing big time when they trade and to go for the prop firms becomes an alternative to them, these organizations have their requirements, rules to follow as well as their policies, one ha e to read them and see that they are such to meet up with,the prop firms is mostly advisable to use for those who look to have a start up opportunity and make it in trading, because they will present to you high amount of money to trade with after passing their challenge, a newbie should not make use of them because they will not meet up their demands.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
Every beginner is not recommended to immediately follow the challenge in any trade because those who are still beginners are only more recommended to follow some education in order to be able to deepen their knowledge about trading before they start trying it with the amount of capital they have. But if there is a beginner who wants to immediately follow the trial or challenge in trading, it is also okay as long as he does not experience frustration or regret when his capital becomes minus or runs out because of facing a sudden price drop. So make a wise decision before you face something bad that you might not want in such a case. Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
The thing with prop firms is if you clearly aren't good, you aren't going to last long on the platform, and you'll waste your money. You're better off playing with demo accounts while you learn and gain data to justify for you to use a prop firm, then when there is enough data for you to justify that you are ready to use a prop firm, then go ahead and do so.
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Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
There is nothing wrong for beginners who follow it, but the most important thing is that they have basic knowledge about trading so that following it can improve their knowledge a little better about trading. The mistake is that sometimes beginners don't learn to understand trading first and they tend to take advantage of something based on speed to make money in the wrong way.By taking advantage of these opportunities, beginners can practice their trading skills using a real account. Learning is actually unlimited because people can improve their skills using any method they deem appropriate.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
Honestly, I wouldn’t advise newbies to go for a prop firm challenge on trading. You need to widen your knowledge first and skills, and become an experienced trader first so you can rightfully serve the real purpose of prop firm trading. However, beyond that, it’s still in your own hands to decide whether you will participate or not. But one thing is certain, prop firms usually conduct an evaluation process first before you will be accepted to participate.
Prop firm is risky and not meant for newbie since you are trading with restrictions from the prop firm that you join. You will more pressure on your trades compared if you DIY trade on exchanges that gives you freedom to learn and enjoy profit on your own.
Newbie entering this kind of trading is just making their trading journey complicated. Exchange offers leverage and margins if the issue is just low capital in trading.
I think you should consider seeking that path if you have already good knowledge on trading but has limited capital to trade.
IMO having a restriction when it comes to trading can also be a good thing too. It might help to limit our losses and then we can enjoy other things as well. Having a restriction is I think the ones that can make us to feel less pressured. If we still think that we are already good enough, then maybe we can just trade on our own, so that we can make more money than usual. Being a newbie is tough and we think everything is just complicated, so yeah that it's important to focus on less complicated stuffs first and the rest will just be handled by us easily later on. If we are good at trading already, then I think capital won't be a problem with us anymore. Newbie entering this kind of trading is just making their trading journey complicated. Exchange offers leverage and margins if the issue is just low capital in trading.
I think you should consider seeking that path if you have already good knowledge on trading but has limited capital to trade.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
If you're going into the challenge with the idea to win it then I'll advise you desist from the temptation but if you are going with the mindset of sharpening your knowledge on trading then it's a good way to go in broadening your scope about trading. Prop firm challenge could be another avenue newbies who have the money to risk could use to build confidence and try to master and harness a few trading skills.But if you don't have the money to risk then don't sweat it, just stay consistent with demo trading you could still develop some trading skills through demo at the cost of no real financial loss. Some of us that trades started with demo and some self research work too.
You can but you would have to understand the basics of trading and at least have a working strategy. Prop firm challenges will give you an advantage as a newbie trader to practice more with real account and have same felling as a live trader. I'll advice you that if you have little knowledge on trading, for now stick with demo and understand the basics first.. then when you get more experience you can buy a prop firm and try out challenges..
Demo practicing is actually good and anyone using demo to trade can boost and enhance their trading experience, provided that such person is not in a haste to make profits or go into live account as I believe that what makes most people lose while trading is lack of patient as well lost of focus while trading, Op should develop himself more better using demo before he can extend to any form of trading he may want.Well, mistakes often happen in the life of a newbie. I'd expect adjustments on his side, but I believe he could do it right.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
Going for a prop firm as a newbie trader without much knowledge about the trading market is a risky one to me. Prop firm is meant to help you have enough capital to trade on and enjoy higher benefits in profits. As a newbie trader, it will be very hard for you to pass a prop-firm and the little money you may have used to buy a prop-firm will be lost in the process while trading or you may not even pass your trial stage to have access to the account to trade with in the prop-firm.
As a newbie trader, focus on building yourself. Deal more with a demo account and see your progress there before deciding to go for a prop-firm. I would even prefer a newbie trader that has started to see more progress in their trading skills to try out that their little amount on trading and see how far they can go with it. If they’re able to be profitable using that small capital to trade, then handling a prop-firm will be easier for them because they’ll still be profitable handling a larger capital given to them by the prop-firm.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
Possible but it would be that hard for a newbie to pass up the challenge. It will really be requiring up 0.5% risks and having that 5% drawdown as i have based on experienced.10% will be that needed up on phase 1 and 5% on phase 2 gain. This is on forex trading prop firms and you can test out some challenge on 10k account for the price of $100.
You would definitely be able to pass up if you do have that good trading experience and skills on which it will be that recommended that before you do try to have that challenge then make it sure that you will be knowing that risks management because prop firms will really be that strict when it comes to terms and conditions.
You can check out their objectives sample:
https://ftmo.com/en/#trading-objectives-table
I havent tested out on cryptocurrency exchange platforms if ever there's some prop firms that handles out crypto trades or challenges.
So far based up on experienced then i do only been wary about on forex prop firms.
You can but you would have to understand the basics of trading and at least have a working strategy. Prop firm challenges will give you an advantage as a newbie trader to practice more with real account and have same felling as a live trader. I'll advice you that if you have little knowledge on trading, for now stick with demo and understand the basics first.. then when you get more experience you can buy a prop firm and try out challenges..
Demo practicing is actually good and anyone using demo to trade can boost and enhance their trading experience, provided that such person is not in a haste to make profits or go into live account as I believe that what makes most people lose while trading is lack of patient as well lost of focus while trading, Op should develop himself more better using demo before he can extend to any form of trading he may want. 
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
Are you a newbie to the forum or to trading?If you are a newbie to trading, then it is not advisable to go for such a challenge as a start, because you might not have enough knowledge about Bitcoin/crypto trading which can lead you to a lot of regret because you will definitely lose money.
But if you have good knowledge about crypto trading, then why not? You can go ahead.
Note that crypto trading is risky, and that is the main reason why many of us here are asking you to learn first before you start trading in order to minimize your losses.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
I want to put a question to you, with what knowledge are you going to trade the prop account? Or you just want to throw some funds to the property firm because that's most likely what you will be doing, as a newbie, you don't have a business with a prop account except you have some funds you are willing to throw to thin air, if you must try your hands on trading at that point, you could get a Demo account and try out all that you have learnt on the demo account. It's high time newbies get to understand that trading isn't gambling and shouldn't be seen like one, and so you need to have throughly studied and have good knowledge to be able to trade profitably and not to think you can be able to depend on luck or gamble trades and stay profitable, even if you do, in the long run it will not be sustainable and may lead to you crashing out of trading sooner probably as a result of bankruptcy or blowing of your accounts.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge?
It makes no sense to contact a Prop firm if a beginner does not have enough knowledge about trading. It should be understood that a Pro firm can offer internships to selected participants, and those with more experience will have priority and subsequently generate profits after completing the internship, receiving about 5-7% of the income as a reward.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
Of course not. Why should a newbie take on such a challenge when they don't have enough knowledge about trading? I've never done it myself, but I have heard and read about it that a prop firm would ask a trader for an upfront fee for taking the challenge, and if the trader fails, the fee is lost. This is why I wouldn't recommend a newbie taking on such a challenge.A newbie should gain as much knowledge about trading as possible after they want to become a trader. After gaining knowledge, they should try their skills with demo accounts and fake money, and if they think they have got enough knowledge and trading skills, then they can think of taking on such challenges.
No one needs to waste their money uselessly. Earning money is not a joke.
Prop firm is risky and not meant for newbie since you are trading with restrictions from the prop firm that you join. You will more pressure on your trades compared if you DIY trade on exchanges that gives you freedom to learn and enjoy profit on your own.
Newbie entering this kind of trading is just making their trading journey complicated. Exchange offers leverage and margins if the issue is just low capital in trading.
I think you should consider seeking that path if you have already good knowledge on trading but has limited capital to trade.
Newbie entering this kind of trading is just making their trading journey complicated. Exchange offers leverage and margins if the issue is just low capital in trading.
I think you should consider seeking that path if you have already good knowledge on trading but has limited capital to trade.
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There are prop firms that are scams and subscribing to them means a loss of their money. 
I don't think it's a good idea for a newbie to subscribe to a prop firm. Newbies need to have basic skills before aiming to make money. I agree quite alright that money is the name of this game but it shouldn't be a priority. No one buys a prop firm to learn, they do that to get more funds and earn higher than ordinarily their capital won't get for them. Why not practice on a live account of yours with the amount you're buying a prop firm with? That's what I would do.
The only way a newbie can go for a prop firm and escape getting burnt is if they've a mentor who holds their hands firmly or they've trusted persons who give them signals. Otherwise, newbies should steer clear off prop firms.
I was going to respond to this yesterday but I for slept-off and this reply is in line with what I was going to add to the discussion. The only way a newbie can go for a prop firm and escape getting burnt is if they've a mentor who holds their hands firmly or they've trusted persons who give them signals. Otherwise, newbies should steer clear off prop firms.
A newbie going for a prop firm is like wanting to run when you haven't learned to walk yet. And we know what how disastrous it is going to end for him. Subscribing to a prop firm is for experienced traders. The experienced and wise traders know that even for prop firms, it is a trap because the profit made is not 100% theirs.
Newbies should also avoid prop firms unless they understand how it works. There are prop firms that are scams and subscribing to them means a loss of their money.
~snipped~
Agreed.
And to the contrary - without proper guidance, a newbie's depo would be gone after a blink of an eye.
There are lots of other ways around to learn and know much more.
With prop firm, all those stuff I mentioned I hate are present. There are rules to adhere to with prop firm. It doesn't matter whether one is recording more wins than losses; once one breaks any rule (it could be on drawdown, trading time, lotsize and what have you) one is punished for it. Whereas, those stuff are actually not bad as they're what practical traders face.
How I have learnt is through observation and then putting money in the market. This is back some years ago when I saw the stock market go up and down. Never thought of Propfirms or going for them - bare bones approach. However for today's newbies, I suggest dummy trading as a better method to start off and not some firm that gives you some money to burn.
So it can be good and it can be bad depending on how good the newbie is at learning something new. I like to play solo and I have own style, it will not fit with another trader.
So it can be good and it can be bad depending on how good the newbie is at learning something new. I like to play solo and I have own style, it will not fit with another trader.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
You'd be rather cautious in doing this. Tried to think that you are just about to learn an entry to such a deal, although it gives you some learning and experience, but I was suggesting you OP to learn trading first, at least basic knowledge. At least you prepared yourself because it already involves money, and even if we say you are relying on them, that is not absolutely okay to have no idea about trading. This is what I wanted to say: don't rush and think carefully.
please I need an opinion from you thanks.
I don't think it's a good idea for a newbie to subscribe to a prop firm. Newbies need to have basic skills before aiming to make money. I agree quite alright that money is the name of this game but it shouldn't be a priority. No one buys a prop firm to learn, they do that to get more funds and earn higher than ordinarily their capital won't get for them. Why not practice on a live account of yours with the amount you're buying a prop firm with? That's what I would do.The only way a newbie can go for a prop firm and escape getting burnt is if they've a mentor who holds their hands firmly or they've trusted persons who give them signals. Otherwise, newbies should steer clear off prop firms.
Agreed.
And to the contrary - without proper guidance, a newbie's depo would be gone after a blink of an eye.
There are lots of other ways around to learn and know much more.
please I need an opinion from you thanks.
I don't think it's a good idea for a newbie to subscribe to a prop firm. Newbies need to have basic skills before aiming to make money. I agree quite alright that money is the name of this game but it shouldn't be a priority. No one buys a prop firm to learn, they do that to get more funds and earn higher than ordinarily their capital won't get for them. Why not practice on a live account of yours with the amount you're buying a prop firm with? That's what I would do.The only way a newbie can go for a prop firm and escape getting burnt is if they've a mentor who holds their hands firmly or they've trusted persons who give them signals. Otherwise, newbies should steer clear off prop firms.
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
I don't see anything wrong with a newbie joining a prop firm because it can really help them, honestly speaking, especially if the newbies have some idea or knowledge of trading.
Then if that's where you feel comfortable, then follow what feels right to you, just don't join if you have any doubts.
You can but you would have to understand the basics of trading and at least have a working strategy. Prop firm challenges will give you an advantage as a newbie trader to practice more with real account and have same felling as a live trader. I'll advice you that if you have little knowledge on trading, for now stick with demo and understand the basics first.. then when you get more experience you can buy a prop firm and try out challenges..
Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
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