AI Prop Firm Prompt

[⭐ fryguy1]

Taylor it to your prop firm.  Put the prompt below into AI. Need to provide it the stats and rules for the prop firm your using.  Try a few AIs and see the results you'll get.  I was provided some detailed info.

Example on a $50k account I would provide this also.

Profit target: $3,000
Max contracts: 7
Max Trailing Drawdown: $2,500
Risk and Reward per trade

- - -

I want to take a prop firm challenge for a 50k account on [prop firm of choice]. Which type of game plan will keep me within the rules (such as daily loss, max positions, etc) and give me multiple trade attempts to pass it? The 50k account has a Profit target: $3,000 , Max contracts: 7 , Max Trailing Drawdown: $2,500.  My trading method has a risk of 20 point and reward of 40 points on the MNQ Futures. I only want to know these details:
- Risk per trade
- Max trades a day
- Risk reward
- Estimated amount of days to complete the challenge
- Chance of completeing the challenge. Give me 3 game plans based on risk per trade. 
(low risk, medium risk, high risk). The higher the risk, the less trades a day.

 

[Ninja_On_The_Roof]

They cant answer you because, for once, they do not know your choice of prop firm. Everyone of them has slightly different rules.

Some have intraday drawdown. Some do not. Some have EOD drawdown. Some have daily loss limit and the others, dont.

It does make a huge difference when it comes to this and that is just, on the surface.

[Ninja_On_The_Roof]

To me at least, in my view, the "max contract size" and the "one day pass" are purely psychological traps.

Folks, especially the "desperates" and newbies, think they can just come in with maximum contracts allowed, in order to pass in just 1 day. That is insane. Only to blow them all in 1 trade or two, or in a single day.

 

[Ninja_On_The_Roof]

Trading, to some degree, is a gamble. Yes, true so but then it is a type of gamble with knowledge, sheer concentration and with educated thinking, analyzing and actions.

Unlike a type of gamble when we hit Las Vegas, put $10 bucks in a slot machine and pull. That is just pure luck, if we do actually win. 

But again, everything in life, really is a gamble. We win. We lose. We are down. We are up. We fight with life to survive, left and right with every single decision that we make. 

 

[Ninja_On_The_Roof]

With a 50K account, I suggest to go slow with micros. Yes, it will take longer to pass but this aint a marathon. You have 30 days to complete. Why do it in such a hurry, only to blow your accounts left and right. Screw that psychology trap of "pass in 1 day". Screw that 7 max contracts. You have it there to know that you still have the ability to add on contracts, when in deed, you really need to do so...But never, ever come in straight with max contracts. That is a disaster waiting to happen.

[Ninja_On_The_Roof]

If you know that your strategy is to risk 20 points and a reward ratio of 40 points, then you already know how many trades you could throw out in a day, your max trades. Only imagine, with that ratio you have, if you come in right at the start and you hit 3 losses back to back. Then, should that be an indication for you to just now stop trading for the day?

If you hit 3 winners straight. Then should that also be an indication for you to now stop for the day? Not even to mention that, there are prop firms with daily capped amount, whether it is 30% or 50% based off your your given target goal.

 

[Ninja_On_The_Roof]

The truth is, just because someone passes in 1 day, that does not mean at all, that this trader is going to be successful trading his or her funded account with the same way.

It might just be pure luck he or she hit on the very first day, with a big win from a big drop or push. 

Yes, it is possible. I have done that myself and I know many traders have as well. But I blew my funded accounts as quickly as I passed. Gone with the wind. Thinking, with the same mentality and actions when I passed that I could again use with funded accounts. I was a fool. I was dumb. 

That is, the honest truth on my part.

 

 

[Ninja_On_The_Roof]

This, we are not even talking about what instrument you are choosing to trade. This makes a big difference as well.

ES is one story but NQ is another. It is a beast. So the risk and reward or your stoploss and target might need to be adjusted for each. Stoploss for NQ might need to be bigger to give it some breathing rooms, since it moves up and down like a nutcase on weeds.

[Ninja_On_The_Roof]

The drawdown is $2500. But some folks think this is a solid number. Not realizing that there are also fees to add with each opening and closing trade. 

They keep going and going to some almost $2000. Then wondering why they have blown their accounts. Hey, I have $2500 for drawdown, why did you fail me, they ask. I only lost $2000. But yeah, they do not realize they have been opening and closing at least 50 trades and the fees kept adding and piling up.

[Ninja_On_The_Roof]

The bottom line is, just take it easy and slow.

If you place a trade and you feel un-easy and stressed out with sweaty hands, then that is an indicator for which, you have probably oversized your trade. 

[Ninja_On_The_Roof]

Estimated amount of days to complete depends on many factors.

You could make $100 today and you stop for the day. That might just be your daily goal target for profit.

But the next day, you could happen to have a runner to run wild and you end up with a huge profit. 

This, moves up your days closer to the finish line.

But then, the next day, you could end up losing all that profit back, plus more.

 

[Ninja_On_The_Roof]

So, the question is...Which prop firm are you going to use?

And so, does it have daily loss limit rule or it has EOD rule? This, might make you have or change to a different strategy to trade effectively.

Does it have consistency rule for testing phase or it has none? 30%? 50%? This, will determine if you would have to continue to trade more, if and if you make profits more than 30% or 50% of their target goal. In your case, 50K. So yes, more days for your completion. Instead of $3000 target, now you would have to make more and more than this amount.

[Ninja_On_The_Roof]

And finally, sorry I do not have the 3 game plans you asked for.🤗😂🤪