Should you Prop your Account or Fund it: From Experience..
I used to make less money than my weight in gold (trading prowess). Many forex traders feel this way. But before you legitimately consider yourself in this class, these are the criteria; You have traded consistently with a demo account, and managed the account profitably. You trade with a real account and consistently make profit, on average. Depending on how well you meet these marks, you are there.
The best approach to trading the forex market is this, first, concretely learn how to, and there are numerous techniques and alternatives; indicator based, trend reading, harmonic patterns, a lot and combinations of the lots; Fund your account, go on to trade, and steadily build your account to tangible profitability in the coming ages. If you have enough funds, this is good enough. If you don’t, you are not unique, nobody really has enough funding. I suggest to you that prop trading is a logically superior approach, with tremendously increased profitability and minimal downside.
If the best approach will work for you, then prop trading will work better. Reason, After satisfactorily exposing yourself to the market, with sufficient demo trading experience and some amount of real trade experience, you can continue to fund your account and trade independently. These are your possibilities; You really are a trader worth your weight in gold , you trade and make profit commensurate to you account size. Alternatively, It swings the other way, the market reveals you are a trader worth your weigh in air, your account is blown up and you lose your small sized investment. On the other hand, with prop trading, if you are successful, your profits are scaled up tremendously. If things get windy, your loss still maintains a proportion relatively equivalent to trading with a self-funded account. Prop trading offers massive upside without a corresponding increase in downside. It is as good as a one way leverage.
There are many options for prop trading, a lot of prop firms have rigid rules and restrictions, . I know Nostro, you can check them if you are considering prop trading. I wish you your weight in Gold.
