Hello I want to ask is it advisable for a newbie on trading go for a propfirm challenge? please I need an opinion from you thanks.
There is nothing wrong in that, at least it’ll build your trading confidence more and make you learn more things about trading. There is a lot to learn about trading and when you’re in a competition, it makes you more serious and more confident in your trading abilities. I have never used one before or participated in a challenge as far as I can recall now, but it’s a great idea and you should go for it.
Are you ware that you would really be needing up to pay up for a challenge trading? The minimum cost i have see is on $32 for a 5k account prop firm. Therefore it would really be costly if you will be trying out to pay up just because you do want to enhance your skills. Actually you can be able to do so with demo account on which you wouldnt really be that needing up to pay up because if you are trying out to be directly dealing up with challenge and then your skills and knowledge isnt really that enough, then you are just basically wasting up your money and this is why its advisable that you do really need up to consider your level of skills on which you would really be considering on joining up these prop firm challenge but if you arent that good enough or being sustainable then its better that you should go with demo trading if you are really that planning to have that practicing your skills but if you do want to be that making up some scale up and be able to make money then joining up prop firms and passing up those challenges to have that funded account will really be that bringing up yourself into that financial independence once you do able to make some huge earning on bi weekly basis on which this is really that an advantage if you are really that a good profitable trader but of course it isnt really that easy to pass up these challenges but at the moments that it do happens then that will really be that a huge advantage for you.