Firstly you need to be able to acquire one account such as a 100k account. Assuming your target is $110000 you start by risking $500 a trade until you reach $3000. if you take losses you continue risking the same until you're back at the starting point. once you reach $3000 of profit you now up your risk to $1000 until you get to $6000 and then $2000. This should easily allow you to pass phase 1 of the challenge, you then repeat the same for phase 2.
Once you receive your first funded account, you are now going to purchase another challenge and copy trade your funded account (master acc) onto the challenge. Repeating the above and considering you have a strategy with a good win rate, you are now able to make money while passing the challenges without having to trade 2 accounts manually. You continue this process and max your funding with one prop fund, and then move on to a second and so on until you have 7 figures in funding under your belt.
The key is to remain focused and have your psychology and mindset on point. making a mistake on your master account is going to reflect on all accounts. The same goes with profits however. If you have 1 mill in funding and make 1% in a week on one of your 100k accounts, then the other 9 will also make 1% bringing you to a total of 10% ($100000) in one week.
I like the post but the calculation is wrong. If you make 1% every week on 10 x $100.000 accounts. Then you do NOT make $100.000 a week. 1% gain on a $100.000 account = $1000 If you have 10 accounts and you make 1 percent on all of them in one week: Then you would make: 10 x $1000 = $10.000 in that week. Off that $10.000 the prop firms also take their share. SO If you have 10x100k accounts and you make 1% per week you earn very good money, but nowhere near 100k a week.
opes_trading_group
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@yorick7878, correct, i was meant to say 10% not 1
1% gain on a $100.000 account = $1000
If you have 10 accounts and you make 1 percent on all of them in one week:
Then you would make: 10 x $1000 = $10.000 in that week.
Off that $10.000 the prop firms also take their share.
SO
If you have 10x100k accounts and you make 1% per week you earn very good money, but nowhere near 100k a week.