Every time I try and execute a new order, it immediately sells the assets I just purchased without warning.

mikegogliucci 2023.10.23 18:48

Title basically explains it all, I am trying to do the [prop-firm name redacted] contest going on right now but I cannot execute any orders without them being immediately sold off seconds after I make a purchase. Please help, thank you so much!

Fernando Carreiro 2023.10.23 18:58 #1

You have not provided enough information. Also taking on a prop-firm challenge without knowing the basics of trading is not ideal.

Are you using a "hedging" or "netting" account?

Are you perhaps using a "netting" account in which your second order is in the opposite direction of the open position?

Are you perhaps using very tight stops?

Are you perhaps breaking the rules regarding maximum allowed volume, margin usage and maximum drawdown?

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mikegogliucci 2023.10.25 16:04 #2

I am not sure how to find out if I am using a hedging or netting account, could you please tell me how to find out?

i dont use very tight stops, so I am thinking that I am perhaps breaking the rules as you said. How could I find that out?

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Fernando Carreiro 2023.10.25 16:13 #3

mikegogliucci #: I am not sure how to find out if I am using a hedging or netting account, could you please tell me how to find out? i dont use very tight stops, so I am thinking that I am perhaps breaking the rules as you said. How could I find that out?

If you are not able the understand or know if you have a "hedging" or "netting" account", and if you are unable to tell which rules you might be breaking, then you have not reached a high enough trading proficiency level to be able to take on a prop-firm challenge.

Please take some time to improve your skills and knowledge about trading before attempting such.

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mikegogliucci 2023.10.25 16:30 #4

and whats the max amount of margin i can use per day, do i also have to sell out my positions at the end of the day?

mikegogliucci 2023.10.25 16:32 #5

i understand and thank you for your answer, my father is the one participating in the competition not me, i am just asking the questions he wants to know the answers to for him. i start with 100,000 buying power, how much can i use per day and do i have to sell out of my positions at the end of the day or can i hold them?

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Fernando Carreiro 2023.10.25 16:35 #6

mikegogliucci #: and whats the max amount of margin i can use per day, do i also have to sell out my positions at the end of the day?

Those are all rules defined by the prop-firm which you should have read and prepared for before taking on the challenge.

Did you not do your research beforehand, or did you just jump in without any idea of what to do?

Articles

Take a few lessons from Prop Firms (Part 1) — An introduction

Fernando Carreiro, 2023.04.19 16:20
In this introductory article, I address a few of the lessons one can take from the challenge rules that proprietary trading firms implement. This is especially relevant for beginners and those who struggle to find their footing in this world of trading. The subsequent article will address the code implementation.

Prop firms Take profits Is there a reliable,

Fernando Carreiro 2023.10.25 16:37 #7

mikegogliucci #: i understand and thank you for your answer, my father is the one participating in the competition not me, i am just asking the questions he wants to know the answers to for him. i start with 100,000 buying power, how much can i use per day and do i have to sell out of my positions at the end of the day or can i hold them?

Then please forward the information in previous posts to your father.

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