439: Secrets To Get Funded 6-7 Figures in 2024 - Michael Toma
Secrets To Get Funded 6-7 Figures in 2024 In episode 439 of the Desire To Trade Podcast, we will be listening to the recording of an interview with Michael Toma and he shares secrets to get funded 6-7 figures in 2024. Listen to experienced traders discuss things you need to know about prop firms this year. The video is also available for you to watch on YouTube. >> Watch the video recording! Topics Covered In This Episode 00:00 Introduction 00:54 Where are you with prop firms these days? 02:21 Knowing when you’re ready to scale up 03:46 How to figure out if you’re good enough to pass the challenge 04:55 Key pillars in risk management 06:31 Thoughts on the moving average strategy 07:41 Going above and going below is a bit unreliable 08:30 What about drawdowns? 09:47 Difference between options for drawdowns in prop firms 10:55 How do you fix it when you fail a prop firm challenge? 13:14 Common mistakes people make 14:34 Picking the right timing 16:52 Michael's opinion on backtesting 18:55 The future of prop firms 21:13 Difference between private capital and prop firms 22:47 Risk-reward - 1:1 vs 5:1 24:23 Higher win rate builds confidence 25:44 How to become Michael's student (link below) 27:05 Expert advisors (EA) trading 29:34 What is the best place to convert my strategies into algos? and much more What did you like best in this podcast episode? Let's talk in the comments below, or join me in the Facebook group! Desire To Trade's Top Resources DesireToTRADE Forex Trader Community (free group!) Complete Price Action Strategy Checklist One-Page Trading Plan (free template) Recommended brokers: EightCap (preferred Crypto and FX Broker) AxiTrader (use our link to get a special bonus) Desire To TRADE Academy About The Desire To Trade Podcast Subscribe via iTunes (take 2 seconds and leave the podcast a review!) Subscribe via Stitcher Subscribe via TuneIn Subscribe via Google Play See all podcast episodes What one thing will you implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group! Where to find Michael Toma DesireToTrade.com Desire To Trade Ultimate Prop Firm Trading Program What one thing will you implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!