Is it good for a newbie trader go for prop-firm

[Abu-Naim]

I would say that for a beginner in trading, going for prop firm challenge might not be the best option. It would be much better to practice and refine a strategy without risks using a demo account. Start by learning the basics, such as market analysis, risk management, and so on 

Exactly, that would be a better start for every newbie unless if they are not new to trading and have experience in trading before hoping this forum to ask for opinion.
Understanding the basics of trading, market analysis, and trading strategies on their own is usually taken time, so most newbies don’t usually focus on these, they instead rely on people that will supply them with signals to trade, and even with that, I think they need the basic knowledge to place the trade and to close the trade when necessary.

Competition of any form shouldn’t be for newbies, they should focus on demo accounts to give them insights on how to apply risk management in trading and how to place and order be it a limit order or market order, and how to apply stop loss and take profit as well; that will be better for them than joining any contest or trading comp.

[okox991]

The biggest thing new traders underestimate with prop firms is the pressure of having rules attached to every trade. A normal losing streak is one thing, but dealing with drawdown limits can make people change their strategy.

I would focus on building consistency first and then look at challenges. I use PropFirm Compare when comparing firms because it helps check things like payout terms, risk rules, and reviews before signing up.

Prop firms can be useful for traders who already have a process, but they are not a shortcut for learning. If the strategy is not working on a small account, a funded account usually will not fix those issues.

[Byebyebtc]

To me nothing concerns a newbie trader with either prop-firm or live account, focus on paper trading and get to a pro
The only time one will need a live account is when you want to train your emotions.

Firstly paper trading
Secondly live account
And then you can Introduce propfirm

I personally grow my little account then use the profits to get a good propfirm, trading the live account to raise good capital and it's like a prep to bigger steps (prop-firm)

[Compromise me]

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.

Having a basic trading experience or knowledge is enough to join prop firm is not enough. Knowing how markets works how to trade and trade for a firm's condition are different not the same things. Someone might have basic knowledge how to read charts and know some basic trading concepts but still lack much practical experience or have a little practical experience. So i will never say joining a prop firm with a little knowledge is good. A prop firms follows some rules and conditions so basic knowledge maybe not enough to handle them properly. I would prefer gaining some practicle experience than joining just.

[GbitG]

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.

Well, if your aim is learning, exploring the market with executing, then it's okay to go for Prop firm challenge because through a funded challenge you will learn a lot with big fund despite it's only took few buck. Initially you will blow few account and in parallel you will get some decent knowledge about prop Firm challenge as well as market behavior. Here I will also tell you that if you are newbie and what to tarde with funded challenge then probably you will never be able to pass this challenge because funded account is not just a easy task like it's need a GOAT level risk management with better accuracy......

So it's up to you if you want to buy it for just exploring the market then go on. But if you think that through funded I will earn money then beyond any doubt you will never win single penny for funded challenge. Funded challenge is hardest way to earn money because sometimes Prop Firm founder will denied your withdrawal without even your mistakes. Such as hidden rules, IP breach etc.

[EarnOnVictor]

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 can learn how to trade in many ways, and prop firm is one of them. It mustn't always be a demo account. I even recommended a cent account before prop firm era, so that the trader would be more serious compared to the emotionless demo account.

That's said. You must look for the prop firm that suit your training relaxation, and not the one that would put you under pressure. Also, I advice you to find the one with a very low starting capital between $5-$10. After all, you are still learning, so don't be greedy by risking high on real money. And if you could luckily edge into tiny profits with them, so be it.

[drangos]

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.

Having a basic trading experience or knowledge is enough to join prop firm is not enough. Knowing how markets works how to trade and trade for a firm's condition are different not the same things. Someone might have basic knowledge how to read charts and know some basic trading concepts but still lack much practical experience or have a little practical experience. So i will never say joining a prop firm with a little knowledge is good. A prop firms follows some rules and conditions so basic knowledge maybe not enough to handle them properly. I would prefer gaining some practicle experience than joining just.

However, a prop firm's basic trading knowledge might not be sufficient. An amateur requires experience as well, and crucially, the capacity to operate risk to the rules. There are frequently daily loss limits, drawdown rules and other conditions for prop firms that can add an extra layer of pressure for new traders. I believe it's best to start building a consistent trading record with a demo or small personal account. As long as someone can stick to a strategy and control risk levels consistently, it would better to think about a prop firm.

[As-Soon-As]

However, a prop firm's basic trading knowledge might not be sufficient. An amateur requires experience as well, and crucially, the capacity to operate risk to the rules. There are frequently daily loss limits, drawdown rules and other conditions for prop firms that can add an extra layer of pressure for new traders. I believe it's best to start building a consistent trading record with a demo or small personal account. As long as someone can stick to a strategy and control risk levels consistently, it would better to think about a prop firm.

In my current position, I prefer to trade on my own and in my own account. Because you can take trades in any situation as you wish, but this prop firm cannot be done as you wish, there are many conditions. So it may not be possible for a new trader to comply with these conditions, so trading in this method involves a lot of losses and pressure at different times. Because the market situation can change at any time,
I think that if someone is not experienced, then he should not take additional risks at all. I think trading in a prop firm account is taking additional risks and having to accept various conditions.

[Mpamaegbu]

You can learn how to trade in many ways, and prop firm is one of them.

IMHO, I don't consider prop firms as places to learn. I see them as places to scale up one's trading capital. It's a brutal place to even contemplate learning.

Also, I advice you to find the one with a very low starting capital between $5-$10.

Please, it will be nice if you can share any prop firm with such low amount. There's someone on my neck who wants a low start-up capital for a prop firm.

[EarnOnVictor]

You can learn how to trade in many ways, and prop firm is one of them.

IMHO, I don't consider prop firms as places to learn. I see them as places to scale up one's trading capital. It's a brutal place to even contemplate learning.

That is a fair opinion; we are all entitled to it.

However, psychology plays an important role here. If you approach the prop firm account simply because you want to make money as a learner, then you miss the idea. I believe that is the angle at which you are looking at it. But mine is far from it, it's just a mean to spice the training better than a mere demo account. If people could be training with cent accounts, I don't think prop firm account should be an issue. Besides, a little amount is not killing, compared to the emotionless demo account, where transitioning to a real account is an automatic loss for most beginners. Prop firm account, if used correctly, could teach the beginner low risk and cautious trading, among other things.

[GbitG]

In my current position, I prefer to trade on my own and in my own account. Because you can take trades in any situation as you wish, but this prop firm cannot be done as you wish, there are many conditions. So it may not be possible for a new trader to comply with these conditions, so trading in this method involves a lot of losses and pressure at different times. Because the market situation can change at any time,
.....

It's your own choice and view but here I will tell you something about it that your own money can't make you profitable tarder like big profit need big lots and if you have limited capital then probably you will never be able to took a big risk on it. I mean if you hava 20k capital and you took 10 trades and 8 of them failed, then approximately you will have 14k to 16k remaining capital.On the other hand if we look at the Funded challenge then probably you can take a big amount for just few buck and as results if you passed it then it will splited on 1:9. So think about it....  . I am just giving you a advice.

I have a lot trader friends but still no one used his own capital at beginning. All of them used a Funded challenge and through this they made some decent amount. So trading is the game of probility sometimes you win sometimes you lose. Profitable tarder are those who give little to marek and win 2x or 3x

[Woodie]

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 know how much you have read about prop firms, but one thing I can tell you for a fact is that most of these companies  actually make payouts from failed challenges, and it's not like they invested their own money ! Secondly using video evidence from prop firm owners being interviewed on this business setup..they have gone on to review that less than 10% of traders pass these challenges from the thousands that take the challenges which should tell you something...and the problem is many treat these accounts like a broker account which is the wrong approach!

In conclusion , anytrader that doesn't have a rule based trading strategy can't survive in the prop firm industry, and it has nothing to do with being a newbie, the rules call for discipline to pass!

[Nanga Parbat]

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.

Well, if your aim is learning, exploring the market with executing, then it's okay to go for Prop firm challenge because through a funded challenge you will learn a lot with big fund despite it's only took few buck. Initially you will blow few account and in parallel you will get some decent knowledge about prop Firm challenge as well as market behavior. Here I will also tell you that if you are newbie and what to tarde with funded challenge then probably you will never be able to pass this challenge because funded account is not just a easy task like it's need a GOAT level risk management with better accuracy......

So it's up to you if you want to buy it for just exploring the market then go on. But if you think that through funded I will earn money then beyond any doubt you will never win single penny for funded challenge. Funded challenge is hardest way to earn money because sometimes Prop Firm founder will denied your withdrawal without even your mistakes. Such as hidden rules, IP breach etc.

Its open forum with everyone is independent in his humble opinion, but for me, newbies going into prop firms is not a good idea because they need to take enough knowledge and understanding before jumping into this. It's never been easy to start from the lowest funds and take some time in learning; this will always be helpful and give enough help to understand the market and sentiments of trading. Emotionless trading never works like real time trading; it needs good analysis and then fundamentals of trading. If someone has enough sources, he can jump with some better value, but still always keeping things in balance helps. Giving enough time and gaining good knowledge and experience will work for a long time. Prop firms always have enough restrictions and other terms; these give setbacks, and people surely feel not good if they have done well.

[Fara Chan]

However, a prop firm's basic trading knowledge might not be sufficient. An amateur requires experience as well, and crucially, the capacity to operate risk to the rules. There are frequently daily loss limits, drawdown rules and other conditions for prop firms that can add an extra layer of pressure for new traders. I believe it's best to start building a consistent trading record with a demo or small personal account. As long as someone can stick to a strategy and control risk levels consistently, it would better to think about a prop firm.

Almost all traders need experience navigating the market while hoping for luck. Whether we admit it or not, every day, some traders lose in the market, and others win by profiting through the market. This means that in the market, both professional and amateur traders can lose if they lack luck, especially if they lack knowledge and experience. Therefore, traders must be wiser in their actions, regardless of whether they join a pro trading firm or not. Because a true trader is one who can stand alone, not joining others just to profit through the market.

[Olatundespo]

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.

To participate in the propfirm challenge, you need to meet the appropriate conditions. It will not be easy for a novice trader to comply with those conditions. You can participate in the challenge and if you are successful, you can get a very small amount of profit, most of the profit will be taken by the firm.

I personally do not like the propfirm challenge. I trade with the amount of financial capacity that I have, although there is a high risk, but sometimes I make a profit through my intellectual trading practice.

[Big Dirams]

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.

To participate in the propfirm challenge, you need to meet the appropriate conditions. It will not be easy for a novice trader to comply with those conditions. You can participate in the challenge and if you are successful, you can get a very small amount of profit, most of the profit will be taken by the firm.

I personally do not like the propfirm challenge. I trade with the amount of financial capacity that I have, although there is a high risk, but sometimes I make a profit through my intellectual trading practice.

As a new trader to meet up with this challenges and conditions given by the prop firm is very difficult and it is always suitable for knowledgeable traders because they get to meet up with the requirements and they have the fee to pay for huge amount capital and trade.

You know different companies with different conditions and not every companies offers little profits some companies do treat their client with positive offers and not little profits. But I wouldn’t suggest prop firm for a new trader because they don’t have the experience about trading so easily they can fail to meet up with the requirements.

[WatChe]

To participate in the propfirm challenge, you need to meet the appropriate conditions. It will not be easy for a novice trader to comply with those conditions. You can participate in the challenge and if you are successful, you can get a very small amount of profit, most of the profit will be taken by the firm.

I personally do not like the propfirm challenge. I trade with the amount of financial capacity that I have, although there is a high risk, but sometimes I make a profit through my intellectual trading practice.

I will prefer to spend time in learning trading rather then going for stuff like propfirm challenge. If you have a skill set that can help you getting profit from trading then why splitting your profit with third party. If you don't have huge capital to start trading then start with small amount and gradually increase it with time. In propfirm challenge, the major chunk of profit will be taken by firm while minor portion goes to successful candidates. That is why doing trading at your own is risky but its a risk worh taking because profit in this case won't be shared.   

[GbitG]

......

Its open forum with everyone is independent in his humble opinion, but for me, newbies going into prop firms is not a good idea because they need to take enough knowledge and understanding before jumping into this. It's never been easy to start from the lowest funds and take some time in learning; this will always be helpful and give enough help to understand the market and sentiments of trading. Emotionless trading never works like real time trading; it needs good analysis and then fundamentals of trading. If someone has enough sources, he can jump with some better value, but still always keeping things in balance helps. Giving enough time and gaining good knowledge and experience will work for a long time. Prop firms always have enough restrictions and other terms; these give setbacks, and people surely feel not good if they have done well.

It's open up for expression....!!!
I have no concern about it.... 

So let's me elobrate it more like if I told you that Trading is not just a name of technical aspects like there is lot of factors was still pulling out. People think that if I master technical then my trading will get vibrant or blah blah. But I already told here that except technical there is also psychological point in which you have to limit thses all stuff such fear, greed, revenge trading, accepting lose or even making a blue print too. And honestly due this Prop industry just only put you on a dead egg.....

However, if a dude have full grip on all these aspects then probably he can dodge then challenge others it's a quite hard to pass this challenges especially for newbie. But someone want to used it for scaling then it okay because little investment can give you big return I mean rewards.

[Nothingtodo]

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 can work with a proprietary firm account if you wish, but in that case you will have to gradually gain experience in other aspects of trading. Maybe you can work with a prop firm account to reduce the risk, but later you can gain experience by creating a demo account to use your experience. Since you will prefer to trade from a large funded account, if you are given a prop firm account, then if you face huge losses, there is a possibility that your prop firm account will be automatically canceled. In this case, your risk is automatically reduced and if you get a profit, then more than 50% of your profit will be yours and the rest of the profit will be deposited in the prop firm fund account, which is also a good point. That is, you can take such measures to gain experience.

[Jegileman]

I will prefer to spend time in learning trading rather then going for stuff like propfirm challenge. If you have a skill set that can help you getting profit from trading then why splitting your profit with third party. If you don't have huge capital to start trading then start with small amount and gradually increase it with time. In propfirm challenge, the major chunk of profit will be taken by firm while minor portion goes to successful candidates. That is why doing trading at your own is risky but it’s a risk worh taking because profit in this case won't be shared.   

Prop firm should only be seen as a means to have access to more funds and not relying on them fully to learn how to trade from. Prop firm gives you access to more liquidity that you can use to trade, but you can’t take 100% of the profits when you’re withdrawing. It is actually not a bad choice to better your trading skill set. What you should understand by trading using prop firm is that it gives you access to be able to have your own capital and fund, this gives you the access to also get to fund on your own when you’ve made some profits and withdrawn using prop firm. It has its own advantage, it is not bad using them as a newbie but one should not rely on using them forever because it has its own disadvantages in the long run.