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

[nelson4lov]

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.   

Well, you're not wrong but prop firms are not inherently bad. If anything, they're the next logical step for anyone that just got into the trading game. Since the whole game of trading is to find an edge and executing that edge repeatedly till it becomes a mechanical process. The best place to execute an edge won't be in a live trading account. It would be easy to get eaten up that way.. It's a known fact that discipline is a core part of trading and where's the best place to get very disciplined with strict rules and risk management? Exactly, it's prop firms.

Once edge had been proven on prop firms, that's when live accounts should even come into the discussion.

[justdimin]

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.

Which is why there is no reason why a newbie should go with a prop firm, no reason that you should. All the same as why a newbie should also not get into leverage trading as well; that would not be a smart move, and it would not benefit them at all. I think people do not realise the fact that we are talking about something that is not really reasonable for the long term, because if you are a newbie, then you are not going to get that much out of this.

I understand that you want to make as much profit as possible, and the world is filled with people who have nearly nothing, zero money, or not zero but very low, and they all want to have so much that they get out of their debt. Most people do not even want like a million dollars or something; that would be great, of course, but most people just want to get rid of the "paycheck to paycheck" life.

For example, if I do not get paid just one single month, that's it: one month without salary, and I would be in huge debt. And I aim to build a portfolio that makes me safe for like six months if I do not get to work. And this is a reasonable request, but the way to do it is not a prop firm, because if you do that, then you are risking way more than you should as a newbie and will be a loss.

[Pandu Geddon]

For example, if I do not get paid just one single month, that's it: one month without salary, and I would be in huge debt. And I aim to build a portfolio that makes me safe for like six months if I do not get to work. And this is a reasonable request, but the way to do it is not a prop firm, because if you do that, then you are risking way more than you should as a newbie and will be a loss.

I actually worry that beginners will be victims of contract schemes by both parties. The profits offered by investors may sound tempting but could end up being a tool that beginners fall for unknowingly. Beginners should start on their own if they have little capital. Leverage the experience you gain to build your own trading skills.