I analyzed 200 losing traders who came to me for help
These were the 7 most common mistakes that kept them broke
(avoid these and you're already ahead of 90% of traders):
1. Chasing high RR without understanding the math
67% of the traders I analyzed were aiming for 3R+ on every single trade
Their average win rate? 32%
They thought high RR meant more profit
But they didn't realize that with a 32% win rate, they were going through 5-8 losing streaks regularly
And those losing streaks were destroying their prop firm accounts before their edge could play out
Most of them had breached 10+ funded accounts
Not because their strategy was bad
But because they couldn't survive the variance
Lower RR with higher win rate would've kept them funded and actually making payouts
Feb 24 • 8 tweets • 4 min read
I blew 100 prop firm accounts before I became profitable
Now I do $5-20k a week in payouts
Here’s what changed to become profitable (learn from my mistakes): 1. Getting data on my system
When I first started trading - I would buy prop firm challenges before I even knew I had an edge
This is one of the dumbest things you can do as a trader
Buying challenges before you have a verified edge is just donating money to prop firms
Before you start to buy challenges, make sure you have:
•200-300 backtested trades
•3 months of profitability on demo / a small live account
Too many traders skip these basic steps at the start and it causes them to lose $1,000s, if not $10,000s before they make any progress
If I had waited until I had a proven edge to start buying challenges I would’ve saved a lot of money - and would’ve been able to scale my funding a lot faster when I was profitable