Pass Your Prop Firm Challenge Fast Or Get Funds For Another Shot

A Simple Strategy to Pass Your Prop Firm Challenge Fast or Get Funds for Another Shot

Trying to pass a prop trading challenge? Here’s a straightforward plan:

Buy Your Prop Firm Challenge Account on a Discount:

Get a $25K prop evaluation when it’s 80-90% off. It’ll cost you less than $30.

Set Up an Account for Options:

If you don’t have a CASH brokerage or an account over $25K (to avoid PDT rules), open one and get approved for options trading. $100 is enough to start. Try to get one with a debit card attached to make paying for your prop accounts from the profits that much easier.

Enter Your Futures Trade:

At the start of the day, pick a trade in line with the market’s general movement. Try to earn 40 ticks with 3 contracts. Choose easy, clear points to enter the trade. Don’t make it difficult. You’re hedged, so you have nothing to lose.

Use an Option as a Hedge:

At the same time, also buy a 0DTE option (it should cost about $0.30/sh or $30) in the opposite direction of your Futures trade. For example, if you bet the market will go up (long on ES), buy a SPY put as a safety net. You’ll need to be quick to get into both trades concurrently. I suggest using a limit order for the futures trade and having your finger on the trigger for a market order on the option which you hit as soon as you’re filled.

Let the Trade Happen:

Don’t overmanage your trade. Set a take profit order at 40 ticks and wait. If you get really close. 35+ ticks and it’s reaching resistance, or showing signs of a struggle, secure your money. You can get the rest in step 7. Let it either earn your money or liquidate if you lose too much. Remember, you have nothing to fear. You are hedged.

After the Trade:

If you lose too much (get liquidated), sell your option to recover your money. This should give you enough to try the evaluation again. In my tests, each time I was liquidated, my option had doubled or more. Double strategy: If you purchased the option for .30 and when you’re liquidated it’s over .60, set a stop that secures the cost to buy another challenge and let the runner run. I let one run to $1.40 the other day. That’ll buy me 8 more challenges with the sales Apex and Bulenox are running.
If you reach your take profit, the option might not be worth much. That’s okay; it was just insurance. But you can also just let it ride. The market often reverses and you may find yourself able to get out at break even or even with a profit.

Keep Trading Small:

Now, just trade small amounts (micros). Your goal is to trade enough days to pass the challenge, not to earn. You’ve already reached the profit goal.

Summary: This plan is all about managing risk. Either you pass your prop firm challenge fast, or you have a backup to try again without spending more. Give it a go!

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When you’re ready to purchase a prop firm challenge, we hope that you will use our affiliate links found on our Prop Firm Quick Guide, complete with the basic rules for each of the firms we recommend and the latest coupon codes as well.

Good luck trading! We hope you can use this strategy to Pass Your Prop Firm Challenge Fast and build yourself an amazing portfolio of funded accounts!