One of the best aspects of a full-time job is its consistent pay. To replace your full-time job with prop firm trading, you need to understand how to achieve steady, reliable income. The key is to set lower, sustainable profit targets on your funded accounts. Here’s how to approach it effectively.

Sustainable Profit Targets

Why Lower Targets Work: I recommend targeting a 2-3% profit per funded account per payout cycle. Aiming for this range increases the probability (about 70-80%) of hitting your profit target before encountering drawdown that will breach the account. This consistency makes your funded accounts a reliable source of income.

Consistent Payouts: By setting realistic and achievable profit targets, the majority of your funded accounts will reach payout. This approach ensures a steady stream of income, similar to a regular paycheck from a full-time job.

Avoiding the All-In Mentality

High Targets, High Risks: I've seen many traders attempt to go "all-in" with their funded accounts, aiming for large profit targets. While this approach can occasionally yield significant gains, it’s rarely successful in the long run. The chances of reaching higher targets are much lower, and there's also a greater risk that the prop firm might not honor large payouts.

Example Scenario: If you have nine funded accounts and you trade them using three different strategies, deploying one account at a time per strategy, you significantly increase your chances of hitting the profit targets. Launching these accounts on separate days further diversifies your risk.

Practical Approach

1. Diversified Strategies:
   • Use different strategies across your multiple funded accounts. This not only spreads risk but also enhances the likelihood of achieving consistent profits while avoiding mass drawdown on all funded accounts at once.
2. Staggered Deployment:
   • Deploy your accounts at different times. This approach diversifies exposure to market conditions and reduces the risk of simultaneous drawdowns across all accounts.
3. Regular Monitoring:
   • Keep a close watch on each account’s performance. Adjust your strategies as needed to ensure you stay within the 2-3% profit target range.

Long-Term Success

Greed vs. Sustainability: Greed is one of the quickest ways to destroy long-term trading success. By setting modest, attainable profit targets, you can ensure the sustainability of your trading business. Consistency in hitting these targets will provide a reliable income stream, similar to that of a traditional job, but with the added freedom and flexibility of trading.

Conclusion

Setting lower, sustainable profit targets is crucial for replacing your full-time job with prop firm trading. Aiming for 2-3% profit per payout cycle ensures a higher probability of success and consistent income. Avoid the pitfalls of greed and all-in trading, and focus on maintaining steady, reliable profits across multiple funded accounts

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