$50K Account Secured with Prop firm| Hola Prime
A guide on how to always pass funded challenges for sure
In today’s trading world, proprietary trading, or “prop trading,” has become an increasingly popular path for both experienced and aspiring traders. With the right trading strategy, risk management, and insight, prop trading firms can provide you with the capital to turn your skills into substantial profits One of the most pressing questions on traders’ minds: How do you pass that first funded account challenge with confidence?
Having traded mostly on personal accounts for over 10 years, I ventured into the prop trading world to see what all the hype was about After successfully securing funding with a $50K account, I can confidently share the best practices that can help you ace your prop trading evaluation, particularly if you’re eyeing a firm like Hola Prime. Let’s dive in and get you ready to pass that challenge
Why Prop Trading? The Advantages (and a Few Cons)
Prop trading offers unique advantages that you won’t find in personal trading accounts, making it a powerful choice for those who want to boost their earning potential Prop firms provide a platform that allows you to trade on larger accounts meaning higher profits for successful traders while taking on much less personal financial risk
Advantages of Prop Trading Firms:
● Access to Capital: A prop firm supplies the funds in terms of a funded account, letting you trade with much larger sums Imagine working on a $50K account versus your own $5K. That difference opens doors for big gains.
● Financial Safety Net: Since the prop firm offers a funded account, your personal financial risk is usually just the initial fee to get evaluated. A solid prop firm, like Hola Prime, can even offer perks like fee reimbursement once you’re profitable.
● Discipline and Structure: Prop trading firms enforce strict trading guidelines For traders prone to over-leveraging or impulse trades, this structure can be refreshing and beneficial. With rules that keep you within risk limits, you’re constantly encouraged to make measured, intentional trades
However, keep in mind a few challenges:
● Profit Split: Although you’re making money with someone else’s capital, most prop trading firms do take a cut Some, like Hola Prime, are generous, offering up to a 95% profit split, which is excellent by industry standards.
● Restricted Market Access and Trading Hours: Some firms limit which markets you can trade and may restrict overnight trading Ensure your chosen prop firm aligns with your trading style
Your Blueprint for Passing Prop Firm Challenges
One thing I’ll emphasize above any trading strategy is risk management In prop trading evaluations, strict adherence to risk management is essential. To pass the evaluation phase and maintain a funded account, let’s break it down into three phases of risk and reward
● Phase 1: Building a Buffer (50K to 51K)
In the first phase, the goal is to build a cushion With a $50K account, the initial focus should be on low-risk trades I suggest starting with a single contract per trade, aiming for consistent, small wins. You aren’t shooting for home runs here think of it as building momentum without draining your account early
● Phase 2: Moderate Risk (51K to 52K)
Once you’ve secured a small gain and have room to play, consider taking slightly larger risks With a buffer in place, you can increase your position size a bit This phase allows you to gain momentum while still protecting your initial capital
● Phase 3: The Bubble Phase (52K to 53K)
This final stretch is so critical. Like poker, hitting the "bubble" before making the big league, you would not want to take a few more unnecessary risks. This will ensure that dropping down to smaller position sizes in this phase will save you from making costly mistakes and ensure hitting your target
Following this process in such phases will make it manageable for you to stay grounded as you approach the passing stage
My Trading Style: Structured and Consistent
While risk management is essential, it's just as important to have a winning trading strategy What I do today combines two of the most popular approaches: the Smart Money Concepts
(SMC) and ICT (Inner Circle Trader) principles The following is a simplified form of how I construct my trades:
● Liquidity and structure break: Wait for a liquidity sweep and be alert for a structure break in the market This will keep you alert on the watch for big moves while keeping your trades measured.
● Re-entries and Points of Interest: Following a structure breakdown, I look to re-enter around high-probability points of interest, which often happen to coincide with Fibonacci levels or key volume areas
● Focus on Risk-to-Reward: I target a risk-to-reward ratio of at least 2:1. That means each winning trade should ideally bring in twice the amount risked, ensuring that losses won’t erase too many gains
Recently, I traded the EURUSD and, following this approach, made $500 with a $250 max risk per trade This method works well for several instruments, from NASDAQ and crude oil to gold and Russell 2000 As a prop trader, the consistent, rule-based approach is the real game-changer.
Choosing the Right Prop Firm
Selecting the right prop trading platform can make a massive difference in your journey A good example in the market today is Hola Prime, which caters specifically to traders looking for flexibility and speed in payouts. Here are some highlights that stand out:
● Fastest Withdrawals: Hola Prime’s payout is virtually instant, with funds available as soon as you request them an advantage not all firms offer.
● Flexible Holding Options: You can hold positions over the weekend in their Prime Account type, giving you more control over your trades This flexibility can be a game-changer for traders who don’t want to close positions too early due to firm rules.
● Affordable Entry Fees and Reimbursement: With one of the most competitive fee structures, Hola Prime even offers fee reimbursement once you’re profitable
● Exclusive features: They offer a Daily Price Transparency Report, a 200% reimbursement on your evaluation fee, five advanced trading platforms, and a 20% profit from the challenge phase These features have added a feather to my cap
It’s the little details that can make a firm ideal for your trading style If you’re committed to prop trading as a full-time gig, consider how each firm’s policies align with your goals.
Final Tips to Ace Your First Prop Firm Evaluation
● Start with Smaller Positions: In the initial stages of your evaluation, start small and scale up. Protecting your capital is more critical than hitting profit targets quickly.
● Stick to Your Plan: Developing a trading plan and sticking to it ensures consistency With prop firms, there’s little room for impulsive trading; a rule-based approach is key.
● Use Price Transparency Reports: Some firms, like Hola Prime, provide daily Price Transparency reports Reviewing these helps refine your trades, providing insights into what’s working and what isn’t
● Stay Cool Under Pressure: Passing your first prop firm evaluation can be challenging, but staying calm during trades, especially when you’re close to the profit target, will keep you from taking reckless risks
● Continuous Learning: The markets constantly evolve, and being open to learning new strategies is essential for success. Leverage resources like Hola Prime’s educational materials to keep improving
Is Prop Trading Right for You?
For traders ready to move beyond personal accounts and increase their earning potential, prop trading is a dynamic path It offers the opportunity to trade with larger capital, maximize gains, and reduce personal financial risk With the right preparation and risk management, you can pass your evaluation and start reaping the rewards
If you’re serious about getting funded, remember that discipline and risk management are the ultimate tools in your arsenal Firms like Hola Prime have designed their programs to support disciplined traders, offering attractive profit splits and instant payouts that make it worth your while.
Ready to take on the challenge? Find a firm that aligns with your trading style, hone your strategy, and keep your risk in check. With patience and a solid plan, you’ll be well on your way to passing your first evaluation and growing as a funded trader
By following these steps and keeping a disciplined mindset, success in the prop trading world is within your reach. Happy trading, and here’s to making your first funded account just the beginning of an exciting trading journey!