Desire To Trade Podcast | Interviews with Highly Successful Traders29 Jan 2024

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

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Where to find Michael Toma

What one thing will you implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

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