☕️ GM Munchers! Trading in December is like holiday shopping—if you’re not patient and strategic, you’ll overspend and end up with nothing to show for it.

On today’s menu:

• How I Passed 7, $100,000 Challenges 😏

• How To Pass Your First Challenge In 90 Days ✅ 

• A Prop Firm Shuts Down After Just a Week 😬

How I Passed 7, $100,000 Challenges 😏 

GM Munchers,

It’s official—I just passed my 7th $100,000 prop firm challenge. 🎉

And this time, I did something I’ve never done before: I recorded everything from start to finish so I could break it all down for you.

My first 4 challenges were with FTMO, and the latest 3? Lark Funding. 

Now, I want to share my stats, my lessons, and my biggest takeaways so you can follow the exact same blueprint.

Let’s dive in.

The Stats 📊

Here’s how the numbers shook out for my latest $100K challenge:

• Account Type: $100,000 1-Step Challenge

• Days Traded: 28

• Trades Taken: 26

• Trades Won: 14

• Trades Lost: 12

• Best Asset: GBP/CAD

• Worst Asset: AUD/JPY

But here’s the real story: because I often took breakeven trades and split my positions into halves, the “true stats” look like this:

• Trades Taken: 17

• Trades Won: 6

• Breakeven Trades: 9

• Losses: 2

The Lessons 💡

After 7 challenges, I’ve picked up a few things that make all the difference. Here are my top three takeaways:

1️⃣ Momentum Is Everything

Prop firm challenges aren’t about hitting home runs—they’re about building steady momentum.

• I started slow, focusing on high-confluence A+ setups and letting small wins stack up, often closing at a 1:1 risk-to-reward.

• Early wins boosted my confidence, and that snowballed into bigger opportunities later in the challenge.

Actionable Tip: Start each challenge by aiming for small, high-probability trades. Build momentum first—don’t try to pass it all in one trade.

2️⃣ Dynamic Risk Is the Key

Once I hit the halfway point to passing, I shifted gears.

• Instead of sticking to the same risk per trade, I doubled my risk on high-conviction setups.

• This allowed me to hit the profit target faster while staying within my overall risk parameters.

Actionable Tip: Don’t be afraid to increase your risk once you’re ahead. But do it strategically—only on setups you believe in and never at the expense of your max drawdown (or daily limit).

3️⃣ Know When to Close—and When to Push

This one’s a game-changer.

• Some trades needed to be cut early—either to lock in profits or avoid unnecessary losses.

• Other times, I let winners run because the market was moving in my favor.

Actionable Tip: I always focus on the fundamentals. Knowing when to close and when to push is all about balancing a variety of fundamental and technical signals. Maybe it’s time for you to brush up on those fundamentals, too…

The Motivation 🚀

Here’s the thing: I wasn’t born knowing how to pass challenges. ❌ 

In fact, I failed for about 5 years and lost tons of accounts.

But by sticking to a clear plan, focusing on consistency, and learning from every mistake, I got here.

If I can pass 7 challenges, so can you.

Here’s what I want you to remember:

• Every trade you take, win or lose, is a step toward mastering your craft.

• Challenges aren’t about perfection—they’re about discipline, patience, and execution.

So, if you’re on the fence about taking your next challenge, don’t overthink it. Start today, follow a solid system, and trust the process.

The Bottom Line

Passing 7 $100K challenges isn’t magic—it’s strategy, mindset, and execution.

Here’s the blueprint:

• Build momentum with small, consistent wins.

• Adjust your risk dynamically when the time is right.

• Master the art of trade management.

The markets don’t wait, Munchers. Get out there, take your shot, and make 2025 your biggest trading year yet.

Cheers,
Matt 📈

PS: Join our FREE Prop Firm Masterclass to learn how to pass your first challenge, too.

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A Prop Firm Shuts Down After Just a Week 😬

In what might be the fastest shutdown in prop firm history, Ascetic Capital has officially closed its doors just one week after launching.

Yes, you read that right.

The firm announced they’re refunding all customers after pulling in just four sales during their first week.

The lack of traction reportedly caused a breach in their investor contracts, forcing the firm to cease operations before even funding a single trader.

The Announcement

Here’s what they said:

Props to them for taking accountability and offering refunds, but still—this is yet another reminder of how unpredictable the prop firm space has become in 2024.

The Lesson

This year has been a wild one for prop firms. 🎢 

From major shutdowns to record payouts, it’s been a rollercoaster. But one thing has become abundantly clear: trust is earned over time.

If you’re considering signing up with a prop firm, here’s the golden rule:

• Stick to firms that have been around for at least a year—ideally 2+ years. Longevity = stability.

• Avoid the hype of flashy new launches. A shiny website and a bold mission statement don’t mean much without a track record to back them up.

The Bottom Line

While it’s unfortunate to see firms like Ascetic Capital fold so quickly, it’s a stark reminder to always do your due diligence.

In a year where we’ve seen firms come and go faster than a 1-minute candle, it’s more important than ever to trade with trusted, established names.

Stay sharp, stay safe, and as always, keep munching those pips.

☕️ Pre-Market Fuel

1. 100 years ago, the average rent in the US was $27. If that doesn’t make you depressed, I don’t know what will. 😂 

2. FundedNext has banned 4 European countries. This is interesting…

3. The stock market has now hit 54 record highs in 2024.

🍪 Munchy Memes

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