Daniel's Trading Journey
From Hobby Trader to $120K Funded Account : Audacity Capital Interview
Trader Snapshot
Attribute | Value |
|---|---|
Name | Daniel |
Funded Amount | $120,000 |
Program Name | |
Primary Asset | Gold (XAUUSD) |
Trading Style | Day Trader |
Prop Firm Experience | ~1 Year |
Time to Funding | 6 Months |
Risk per Trade | ~1.2% - 1.3% |
Risk-to-Reward Ratio | 1-to-2 |
Payout Target | 2% - 3% |
Session Preference | Asian Session |
Daniel's Trading Journey
Key Highlights
- Trading Background:
- Daniel started trading forex as a hobby in 2019 and transitioned to prop firm trading in early 2024.
- Before prop firms, he traded personal funds but with limited time due to running a different business.
- Prop firm trading became his full-time profession about six months after starting with Audacity.
- Trading Approach and Philosophy:
- Daniel emphasizes sustainability and consistency over quick profits or high-risk trades.
- His goal is to develop a long-term, stable trading system resembling a business model.
- He targets around 2-3% profit per payout, avoiding excessive leverage and risk.
- Prefers day trading for better control and compliance with prop firm rules.
- Specializes exclusively in gold trading, appreciating its volatility and consistent movement across all sessions.
- Manages multiple accounts either by copy trading or manually replicating trades quickly.
Become a Funded Trader Today
Join the Funded Trader Program- Trading Strategy:
- Uses a simple approach focusing on key supply and demand levels and momentum.
- Enters trades based on momentum after confirming key levels, especially during the Asian session’s first hour.
- Avoids scalping and swing trading, finding day trading to be the optimal balance.
- Implements a risk-to-reward ratio of about 1:2 with consistent risk per trade (~1.2-1.3%).
- Does not use trailing stops, preferring to set fixed take-profit targets for efficiency and scalability.
- Trading Schedule & Session Preferences:
- Lives in Vancouver, Canada; the Asian trading session starts at 5 p.m., fitting well with his schedule.
- Trades London session using limit orders before sleep.
- Avoids the New York session due to high-impact news and unpredictability, which complicate prop firm trading rules.
- Risk Management & Prop Firm Specifics:
- Adjusts risk slightly to align with Audacity’s consistency score and daily drawdown rules.
- Views the prop firm challenge as a probability game, emphasizing repeated, systematic edge rather than one-off big wins.
- Warns against treating prop firm payouts as quick money or lottery wins.
- Industry Insights and Challenges:
- Highlights the prevalence of fraudulent prop firms in the market, which harms the industry’s reputation.
- Recommends choosing well-established, reputable prop firms with sustainable business models (e.g., Audacity with 13 years in business).
- Notes that many new prop firms offer low prices but often fail to pay out or survive long term.
- Advice for New Traders:
- Treat trading as a business, focusing on consistency and system development rather than chasing large payouts.
- Manage expectations realistically; prioritizing multiple smaller payouts over rare large gains.
- Understand both technical and fundamental analysis to align with institutional momentum.
- Avoid high-risk strategies like scalping or trading during volatile news events to reduce unpredictability.
Timeline of Daniel’s Trading Journey
Period | Event/Activity |
|---|---|
2019 | Started trading forex as a hobby |
Early 2024 | |
~6 months later | Became funded trader on $120,000 account |
Last 6+ months | Trading full-time, focusing on gold and prop firms |
Quantitative Data Summary
Metric | Value/Description |
|---|---|
Prop Account Size | $120,000 |
Target Payout per Trade | 2-3% |
Risk per Trade | ~1.2% to 1.3% |
Risk-to-Reward Ratio | 1:2 |
Years Trading (Total) | ~5 years (including hobby) |
Months with Audacity | ~12 months |
Audacity Company Age | 13 years |
Join the Free Prop Firm Trading Competition
Register for FreeCore Concepts and Terms
- Prop Firm Trading: Trading with capital provided by a proprietary trading firm under specific rules and risk limits.
- Consistency Score: Metric used by Audacity to measure steady performance over time rather than large one-off gains.
- Day Trading: Buying and selling assets within the same trading day to capitalize on short-term market movements.
- Supply and Demand Levels: Price points where buying or selling pressure historically causes market reversals or strong moves.
- Momentum Trading: Entering trades in the direction of strong price movement driven by institutional activity.
- Risk-to-Reward Ratio: Ratio comparing potential profit to potential loss per trade.
- Trailing Stop: A dynamic stop-loss level that adjusts with price movement to protect profits (not used by Daniel).
Frequently Asked Questions (FAQs)
- Q: How long did it take to become funded?
A: Approximately six months after starting with Audacity. - Q: What is your preferred trading asset?
A: Gold, due to its volatility and consistent session movements. - Q: Do you use indicators or just price action?
A: Primarily price action focusing on supply/demand zones and momentum. - Q: Do you trade during major news events?
A: No, to avoid unpredictability and prop firm penalties. - Q: How do you manage multiple accounts?
A: Through a mix of copy trading (where allowed) and fast manual trade replication. - Q: What advice do you have for choosing a prop firm?
A: Pick firms with longevity and a sustainable business model to ensure long-term access to capital.
This interview offers valuable insights into the mindset and methods of a successful prop firm trader, underscoring the importance of discipline, risk management, and realistic expectations in the trading profession.
Key Trading Lessons
- Sustainability and consistency are paramount for success in prop firm trading.
- Day trading gold offers a good balance of volatility and control, especially for prop firms.
- Avoiding high-impact news and volatile sessions reduces risk of sudden losses and rule violations.
- Prop firms vary widely in legitimacy; research and choose firms with proven track records.
- Treat trading like a business with a systematic approach, not a get-rich-quick scheme.
- Multiple smaller, consistent payouts reduce stress and increase long-term profitability compared to chasing large windfalls.
Certification
Choose The Best Plan
Designed to reduce stress by removing deadlines 👍 Unlimited trading period for Challenge, Verification and Live stages.
1st and 2nd Steps:
You only need to trade on 4 different days. A trading day is defined as a day when at least one position is opened.
Live account:
No minimum trading days
The Daily Drawdown resets every day at midnight (MT5 server time – GMT+2 / GMT+3 depending on Daylight Saving Time).
It is calculated as 7.5% (5% for Verification and live stage) of the account’s balance or equity at rollover, whichever is higher.
Your equity cannot fall by more than 7.5% (5% for the 2nd step and live stage) in a single trading day. Once the day resets, a new limit is set based on your updated balance or equity, following a static-based model.
Example:
Account balance at rollover: $120,000
Daily Drawdown (7.5%) → $9,000 → Equity must not fall below $111,000 that day.
If equity or the balance rises to $130,000 by the next rollover, the new daily drawdown will be $9,750 (7.5% of 130,000).
The Absolute Drawdown (Maximum Drawdown) is 15% (or 10% for the 2nd step and live stage) of the initial account balance and remains fixed throughout the challenge.
If either the daily or absolute drawdown is breached, the account will be terminated.
Example: Account balance: $120,000
Absolute Drawdown (15%) → $18,000 → The account will be closed if equity drops below $102,000.
The profit target is 10% on the Challenge stage and 5% on the Verification stage. Achieving these targets while following the rules will qualify you for a Live account
Profit sharing starts at 75%, you can reach up to 90% with consistent performances in line with our scaling plan.
Once on Live stage, traders can request withdrawals biweekly (every 14 days). After the request is approved, traders will receive the profit share in their wallet on the same day.
Once traders earn a payout, they'll be eligible for a Reward Bonus equal to the initial registration fee. This will be included with the first payout from the Ability Live.
Not anymore
You may hold trades over the weekend and trade during news events. Simply avoid opening, closing or adding to positions within 3 minutes before or after any high impact news release or speech, as that can be identified as excessive risk.
EAs are allowed if they follow our prohibited-strategy rules and are not sourced from third-party signals. Please see our prohibited trading practices here.
Copy trading is allowed between your own accounts within Audacity Capital. Copying from an external account is allowed only if the account belongs to you. Third-party copying is not permitted.
Select Program:
Select Account Size
phase 1
Max Drawdown
$750
Based on Initial Balance
Total Loss 15%
Daily loss: 7.5%
Profit Target
$500
Based on Balance
Target : 10%
phase 2
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
$250
Based on Balance
Target : 5%
live
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
More than 10%
Less than 10%
Challenge
Designed to reduce stress by removing deadlines 👍 Unlimited trading period for Challenge, Verification and Live stages.
1st and 2nd Steps:
You only need to trade on 4 different days. A trading day is defined as a day when at least one position is opened.
Live account:
No minimum trading days
The Daily Drawdown resets every day at midnight (MT5 server time – GMT+2 / GMT+3 depending on Daylight Saving Time).
It is calculated as 7.5% (5% for Verification and live stage) of the account’s balance or equity at rollover, whichever is higher.
Your equity cannot fall by more than 7.5% (5% for the 2nd step and live stage) in a single trading day. Once the day resets, a new limit is set based on your updated balance or equity, following a static-based model.
Example:
Account balance at rollover: $120,000
Daily Drawdown (7.5%) → $9,000 → Equity must not fall below $111,000 that day.
If equity or the balance rises to $130,000 by the next rollover, the new daily drawdown will be $9,750 (7.5% of 130,000).
The Absolute Drawdown (Maximum Drawdown) is 15% (or 10% for the 2nd step and live stage) of the initial account balance and remains fixed throughout the challenge.
If either the daily or absolute drawdown is breached, the account will be terminated.
Example: Account balance: $120,000
Absolute Drawdown (15%) → $18,000 → The account will be closed if equity drops below $102,000.
The profit target is 10% on the Challenge stage and 5% on the Verification stage. Achieving these targets while following the rules will qualify you for a Live account
Profit sharing starts at 75%, you can reach up to 90% with consistent performances in line with our scaling plan.
Once on Live stage, traders can request withdrawals biweekly (every 14 days). After the request is approved, traders will receive the profit share in their wallet on the same day.
Once traders earn a payout, they'll be eligible for a Reward Bonus equal to the initial registration fee. This will be included with the first payout from the Ability Live.
Not anymore
You may hold trades over the weekend and trade during news events. Simply avoid opening, closing or adding to positions within 3 minutes before or after any high impact news release or speech, as that can be identified as excessive risk.
EAs are allowed if they follow our prohibited-strategy rules and are not sourced from third-party signals. Please see our prohibited trading practices here.
Copy trading is allowed between your own accounts within Audacity Capital. Copying from an external account is allowed only if the account belongs to you. Third-party copying is not permitted.
Select Program:
Select Account Size
phase 1
Max Drawdown
$750
Based on Initial Balance
Total Loss 15%
Daily loss: 7.5%
Profit Target
$500
Based on Balance
Target : 10%
phase 2
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
$250
Based on Balance
Target : 5%
live
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
More than 10%
Less than 10%
Designed to reduce stress by removing deadlines 👍 Unlimited trading period for Challenge, Verification and Live stages.
1st and 2nd Steps:
You only need to trade on 4 different days. A trading day is defined as a day when at least one position is opened.
Live account:
No minimum trading days
The Daily Drawdown resets every day at midnight (MT5 server time – GMT+2 / GMT+3 depending on Daylight Saving Time).
It is calculated as 7.5% (5% for Verification and live stage) of the account’s balance or equity at rollover, whichever is higher.
Your equity cannot fall by more than 7.5% (5% for the 2nd step and live stage) in a single trading day. Once the day resets, a new limit is set based on your updated balance or equity, following a static-based model.
Example:
Account balance at rollover: $120,000
Daily Drawdown (7.5%) → $9,000 → Equity must not fall below $111,000 that day.
If equity or the balance rises to $130,000 by the next rollover, the new daily drawdown will be $9,750 (7.5% of 130,000).
The Absolute Drawdown (Maximum Drawdown) is 15% (or 10% for the 2nd step and live stage) of the initial account balance and remains fixed throughout the challenge.
If either the daily or absolute drawdown is breached, the account will be terminated.
Example: Account balance: $120,000
Absolute Drawdown (15%) → $18,000 → The account will be closed if equity drops below $102,000.
The profit target is 10% on the Challenge stage and 5% on the Verification stage. Achieving these targets while following the rules will qualify you for a Live account
Profit sharing starts at 75%, you can reach up to 90% with consistent performances in line with our scaling plan.
Once on Live stage, traders can request withdrawals biweekly (every 14 days). After the request is approved, traders will receive the profit share in their wallet on the same day.
Once traders earn a payout, they'll be eligible for a Reward Bonus equal to the initial registration fee. This will be included with the first payout from the Ability Live.
Not anymore
You may hold trades over the weekend and trade during news events. Simply avoid opening, closing or adding to positions within 3 minutes before or after any high impact news release or speech, as that can be identified as excessive risk.
EAs are allowed if they follow our prohibited-strategy rules and are not sourced from third-party signals. Please see our prohibited trading practices here.
Copy trading is allowed between your own accounts within Audacity Capital. Copying from an external account is allowed only if the account belongs to you. Third-party copying is not permitted.
Select Program:
Select Account Size
phase 1
Max Drawdown
$750
Based on Initial Balance
Total Loss 15%
Daily loss: 7.5%
Profit Target
$500
Based on Balance
Target : 10%
phase 2
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
$250
Based on Balance
Target : 5%
live
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
More than 10%
Less than 10%
Designed to reduce stress by removing deadlines 👍 Unlimited trading period for Challenge, Verification and Live stages.
1st and 2nd Steps:
You only need to trade on 4 different days. A trading day is defined as a day when at least one position is opened.
Live account:
No minimum trading days
The Daily Drawdown resets every day at midnight (MT5 server time – GMT+2 / GMT+3 depending on Daylight Saving Time).
It is calculated as 7.5% (5% for Verification and live stage) of the account’s balance or equity at rollover, whichever is higher.
Your equity cannot fall by more than 7.5% (5% for the 2nd step and live stage) in a single trading day. Once the day resets, a new limit is set based on your updated balance or equity, following a static-based model.
Example:
Account balance at rollover: $120,000
Daily Drawdown (7.5%) → $9,000 → Equity must not fall below $111,000 that day.
If equity or the balance rises to $130,000 by the next rollover, the new daily drawdown will be $9,750 (7.5% of 130,000).
The Absolute Drawdown (Maximum Drawdown) is 15% (or 10% for the 2nd step and live stage) of the initial account balance and remains fixed throughout the challenge.
If either the daily or absolute drawdown is breached, the account will be terminated.
Example: Account balance: $120,000
Absolute Drawdown (15%) → $18,000 → The account will be closed if equity drops below $102,000.
The profit target is 10% on the Challenge stage and 5% on the Verification stage. Achieving these targets while following the rules will qualify you for a Live account
Profit sharing starts at 75%, you can reach up to 90% with consistent performances in line with our scaling plan.
Once on Live stage, traders can request withdrawals biweekly (every 14 days). After the request is approved, traders will receive the profit share in their wallet on the same day.
Once traders earn a payout, they'll be eligible for a Reward Bonus equal to the initial registration fee. This will be included with the first payout from the Ability Live.
Not anymore
You may hold trades over the weekend and trade during news events. Simply avoid opening, closing or adding to positions within 3 minutes before or after any high impact news release or speech, as that can be identified as excessive risk.
EAs are allowed if they follow our prohibited-strategy rules and are not sourced from third-party signals. Please see our prohibited trading practices here.
Copy trading is allowed between your own accounts within Audacity Capital. Copying from an external account is allowed only if the account belongs to you. Third-party copying is not permitted.
Select Program:
Select Account Size
phase 1
Max Drawdown
$750
Based on Initial Balance
Total Loss 15%
Daily loss: 7.5%
Profit Target
$500
Based on Balance
Target : 10%
phase 2
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
$250
Based on Balance
Target : 5%
live
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
More than 10%
Less than 10%
Related Success Stories
12 Years of Experience, Discipline & Progression with Audacity Capital
I had to do it the right way, and that meant focusing on consistency and controlling my emotions.
Brian’s Journey From Emotional Trading to Funded Success
Focus on one asset, master it, then diversify.
How Florida Turned 15 Years of Experience Into Scalable Results
Discipline and patience are the key to becoming a successful trader.