Personal Trading under another person's rules Good?

[tabas]

If you think that you can pass prop firm's test, then go for it because it means that you're a good one but it's not easy as it goes as there are conditions that you need meet and follow. I'll choose my own live account because the thing about it is, I am trading my own money and I feel obligated to improve myself with my money without having any that much conditions to follow for myself and if it doesn't work well for me, no need to stress with the bad results.

[Webutxo]

I'm don't know if this has been discussed here, but I'm quite curious and I will like to hear from active traders here.

Trading a live account and trading a propfirm which one is best, they both have their advantages and disadvantage, but I feel the best is live account in my POV simply because I don't want to make money under another person's rules, but I'm still open to get why people trade propfirm probably it might be better or not?. There are reasons why one will make a decision of wich one is best for him or her
So to you all which one do you prefer and why do you prefer it.

I will never allow any propfirm use my time and money for trading business. People that knows about propfirm very well knows that they are only good for business, they take money from people and gather thousands and pick few random people and even that few, maybe or two will make it, so why go with propfirm when you can use your account and become a better trader. I will prefer to use demo and practice than use these so called propfirm.

If it's $100 that you can afford as capital, use that money to fund your live account, do small plot size and get experience or go for demo and practice better before you touch the real money. You will not get big money in return on time but rest assure you will get good return based on your own capital and you will have rest of mind instead of chasing a particular profit which you can still lose in the process with a propfirm account.

[Royal Cap]

So to you all which one do you prefer and why do you prefer it.

It would not be right to compare a live account and a prop firm in the same way, because the purpose of both is different. In a prop firm you trade with other people's capital and follow their revenue share rules, while in a live account you have your own capital, your own decisions and your own risks.  For those who have trading skills but do not have enough capital, a prop firm can be a good opportunity. So I would say it totally depends on your current situation, one I would call my your business and the other I would call other's business manager.

[freedomgo]

I don't think both should be compared which is better or not, but it depends on the individual's preference to trade. If the trader has his own funds and is willing to take risk some amount, then he should choose live trading. But if only he can afford is the evaluation fee and pass the trading test, then he can proceed trading with prop firm.

Personally, I see bigger risk with live trading because you can lose your own life savings with failed trades, but with prop firm, you will only lose your entry fee which is very minimal. However, if your aim is to maximize your own trading skills and experience, elevate your winning potentials, then the best practice is through live trading and stay responsible by not losing your own funds.

[stadus]

If you don't have personal funds, yet you have the skills and working strategies that could gain you an edge in trading, then I don't see any reason why you won't stop yourself from prop firm trading. If you pass the trading test and end up with profitable trades, both will have a good split of profits. Just make sure you don't end up with a scam company, otherwise your time and hardwork will go into waste.

However, a lot still prefer to go with live trading and be a boss of their own. At least they can keep 100% of their profits, get rid of the evaluation fees, and they can have the absolute control if they want to take leverage with their proven trading strategies and techniques.

[justdimin]

I only know that you can minimize the risk if you use propfirm but I am not sure about that. You follow their terms, have a split profit with the company while you have less risk and that could be to those who can't trade well and worry if they will lose money if they trade by themselves.

But if you willing to learn trading and accept the risks while you can manage the risks, I think it is better to trade by a live account because your profit will goes to you fully.

You only need to care with the risks and knowing the decision you should make but maybe I am wrong.

First of all, it's not about minimizing the risks if you are using a propfirm account, because you are not using your own money or account but everything is provided by them, and you only trade with it. Second of all, those who can't trade well and worry that they are going to lose money if they do it on their own, they are also not going to able to do anything with a propfirm, because they will not even be able to pass the test to actually qualify for a real trading account that the firm will give them which will have actual funds and then the profits that the trader makes using that account will be split among them and the firm, but to reach that point, one needs to acquire excellent trading knowledge and skills.

And, even though it's true that one will get to keep all the profits they make if they trade using their own account, we need to understand that you might not have a capital good enough to earn you good profits, and a propfirm will give you an account with a high capital, which means you can make better profits with that, but again, as I sad, you will be tested, and you will need to be a very good trader to actually manage things very well using a propfirm account, otherwise, you will lose the opportunity.