For dedicated traders seeking sustained success in the financial markets, keeping a complete trading journal is vital. Many traders, though, concentrate on documenting the trades they win, but ignoring the trades they lose and the emotions attached can conceal vital points. A good journal will document all the trading experiences, win or lose. Noting the…
If you’ve spent even a little time digging into the world of proprietary (prop) trading firms, you’ve probably noticed something: almost every single one of them offers S&P 500 futures. And not just as an afterthought. For most firms, this market is front and center, and traders practically live and breathe it. But why is…
Introduction to Backtesting in Prop Firm Trading Backtesting refers to the act of comparing a trading strategy to past market data with an aim to determine its probable profitability and risk. Thus, a trader is able to decide whether he or she can go ahead and use this strategy in a live market. In the…
It is easy for novice traders to get into the idea that "it is better" when they first come across a broad collection of MT5 indicators. MetaTrader 5 offers an almost infinite option for market analysis, including RSI and MACD to Ichimoku and Custom Oscillator. However, the top prop firm will surprise you by telling…
