Curated by Andrew Lockwood, London Futures Exchange Veteran (35+ Years Exp)
What are the best prop trading strategies?
The most effective prop trading strategies rely on strict risk management, repeatable execution, and a clear mathematical edge rather than prediction. Based on our PropIQ data from over 16 million simulated trades, the top-performing approaches include the ICT Fair Value Gap (FVG), Open Range Breakouts (ORB), and rule-based Fibonacci Retracements.
Setups, entries, exits, and risk rules, explained for simulated prop trading by Andrew Lockwood.
When building your edge in a simulated prop firm environment, you do not need to invent a new way to trade. You just need a system you can execute with unwavering discipline.
More than 2,600 traders told us what they wanted to learn. We took that vote and matched it with proprietary data from over 16 million simulated trades inside our PropIQ environment. The result is this clear, practical roadmap. Each strategy below includes a video breakdown, trade examples, and a downloadable rule sheet designed to respect prop firm drawdown limits.
How to use this page
Start with the quick summaries below. Click into any strategy to view a video made by Andrew, see how the strategy works and learn the entry and exit rules. If a lesson isn’t live yet, you’ll see a “coming soon” note. Join our discord to make sure you are updated when the lessons are released.
All strategies shown are for educational purposes only and are not guaranteed to be successful. Results vary based on trader skill and market conditions.
The Top Strategies (Voted by You)
Fair Value Gap (FVG, ICT Theory)
Watch for imbalances and liquidity sweeps to time entries.
The trading advantage of the ICT Fair Value Gap (FVG) strategy is that it equips traders with a visual, rule-based method to spot institutional order flow and capitalize on market imbalances where buy and sell orders were not fully matched. Rather than encouraging traders to predict every market move or trade impulsively, the strategy uses a structured, multi-timeframe approach to identify highly precise, low-risk retracement entries that align with the momentum of “smart money”. For prop traders, this framework is particularly advantageous because it replaces emotional decision-making with strict rule adherence, making it much easier to execute repeatable setups and manage drawdowns consistently during evaluations.
→ [Go to FVG lesson]
Fibonacci Retracement Strategy
Use pullback levels (38.2, 50, 61.8) for rule-based entries and stop placements.
The primary trading advantage of this simplified Fibonacci strategy is that it strips away the clutter of traditional Fibonacci analysis, replacing it with a clean, rule-based framework for catching trend pullbacks. By pairing a strict higher-timeframe trend filter (using moving averages) with a requirement for a structural break, traders are forced to align with established market momentum before taking a position. The strategy then uses the “Golden Zone” (the 0.50 and 0.618 retracement levels) to pinpoint precise entry areas, while strictly defining risk with an objective stop-loss placed just beyond the 0.786 level. For prop traders, this structured combination of trend confirmation, precise entry zones, and mechanical stop placement completely removes emotional guesswork and consistently generates positive risk-to-reward setups.
→ [Go to Fibonacci lesson]
Open Range Breakout (ORB)
Mark the session’s early range, then catch breakouts with time filters.
The primary trading advantage of the Open Range Breakout (ORB) strategy is that it capitalizes on the surge of momentum and volatility generated at the start of a major trading session, operating on the premise that the opening period often sets the tone for the rest of the day. By strictly defining this initial range (such as the first hour of the London or New York open) and waiting for a definitive candle close outside of it, traders can systematically capture breakout moves while reducing emotional guesswork. Furthermore, Andrew’s refined version enhances this classic approach by adding a higher-timeframe trend filter (using the 10 and 50 EMAs) and a strict rule to avoid trading directly into major support or resistance levels. For prop traders navigating tight drawdown limits, this structured method acts as a powerful behavioural guardrail—filtering out choppy, ranging markets, minimizing false breakouts, and ensuring they only risk capital when short-term momentum perfectly aligns with the broader trend.
→ [Go to ORB lesson]
Silver Bullet (ICT)
A timed setup that targets quick moves after liquidity grabs.
The primary trading advantage of the ICT Silver Bullet strategy is its strict, time-based framework, which effectively eliminates the common and destructive habit of overtrading. By restricting traders to three specific 60-minute windows per day to look for a precise sequence: a liquidity sweep; a market structure shift; and a Fair Value Gap (FVG) entry. The strategy removes the temptation to sit at the screen all day forcing sub-optimal setups. For prop traders, this highly disciplined approach acts as a crucial behavioural guardrail against revenge trading and impulsive decisions, ensuring they only risk their capital during specific periods of high-probability market displacement.
→ [Go to Silver Bullet lesson]
VWAP Pullback Strategy
Fade stretched moves or jump on reversions using VWAP and bands.
Use the VWAP (Volume Weighted Average Price) indicator to identify institutional “fair value” and determine the overall daily trend. This strategy waits for price to become overextended, and then uses the Anchored VWAP tool to pinpoint precise, rule-based entries as the market pulls back and resumes its primary direction.
→ [Go to VWAP lesson]
Head and Shoulders Breakout
Classic reversal setup with neckline breaks and retests.
Identify major trend reversals at key higher-timeframe support and resistance zones using this classic, pure price-action pattern. Instead of trading the initial breakout, this rule-based approach waits for a definitive break and retest of the “neckline” to pinpoint high risk-to-reward entries, utilizing the structure’s right shoulder for strict stop-loss placement.
→ [Go to H&S lesson]
Turtle Soup (Larry Connors)
Look for fakeouts around 20-day highs or lows, then fade them fast.
The primary trading advantage of the Turtle Soup strategy is its ability to capitalize on the reality that many market breakouts fail, allowing traders to profit by “fading” these false moves and trading alongside institutional players. Rather than getting trapped with the “dumb money” in lower-timeframe accumulation zones, the strategy dictates patiently waiting for price to sweep internal liquidity and trigger standard breakout stop orders. When this sweep is immediately rejected, signalled by a long-wicked pin bar or hammer candle, it reveals the footprint of “smart money” stepping in to reverse the market. For prop traders, this structured, contrarian framework is highly advantageous because it offers exceptional risk-to-reward setups; risk is strictly controlled with a stop placed just beyond the rejection wick, while profit targets aim for significant, higher-timeframe external liquidity levels.
→ [Go to Turtle Soup lesson]
Turtle Trader (Richard Dennis)
Ride the trend with breakout entries, pyramiding, and smart exits.
The primary trading advantage of the classic Turtle Trading strategy is its uncompromising, rule-based approach to catching breakouts and riding major trends, proving that trading success relies more on strict discipline than complex indicators. By utilizing simple tools like a 20-bar Donchian Channel to trigger entries when price makes a new high or low, combined with a 50 EMA on a higher timeframe to filter trades in the direction of the broader trend, the strategy removes all subjectivity. Risk is mechanically managed using a 10-bar lookback for stop-loss placement, and traders can implement structured exits like scaling out or trailing stops to maximize winning trends. For prop traders, this system is highly advantageous because it enforces the patience and emotional control necessary to let the market prove a position right or wrong, eliminating the destructive urge to tweak rules mid-trade or overcomplicate charts during choppy market conditions.
→ [Go to Turtle Trader lesson]
Triple Screen Trading (Alexander Elder)
Filter trades across multiple timeframes, then enter with confidence.
→ [Go to Triple Screen lesson] (Coming soon)
Order Blocks and Supply-Demand
Find zones where big players likely made their moves.
→ [Go to Order Blocks lesson] (Coming soon)
Which Prop Firm Strategy is Best for You?
If you like momentum: Try ORB or Silver Bullet
If you want structure: Go for Fibonacci or Triple Screen
If you trade levels: Look at VWAP Pullback or Head and Shoulders
If you want to learn institutional-style setups: Start with FVG or Order Blocks
If you like strong trends: Turtle Trader’s for you
If you like to fade moves: Try Turtle Soup
Strategy Comparison: Timeframes, Styles, and Risk Rules
To help you quickly identify the mechanics of each system, here is a breakdown of how the top strategies operate:
| Strategy | Style | Best for | Timeframes | Risk tip |
| FVG | Price structure + action | Trend/reversals | M5-H1 | Needs solid session logic |
| Fibonacci | Pullbacks | Trend continuation | M15-H4 | Structure-based stops work best |
| ORB | Momentum | Opening hour traders | M1-M15 | Avoid chop, set no-trade times |
| Silver Bullet | Time-based setups | Fast intraday trades | M1-M15 | Stick to time and tight risk |
| VWAP Pullback | Mean reversion | Session trades | M5-M30 | Know the difference between trend and chop days |
| Head and Shoulders | Reversals | Swing or intraday | M15-H4 | Retests aren’t always clean |
| Turtle Soup | Fakeout fades | Reversal traders | M5-H1 | Use smaller size, exit quick |
| Turtle Trader | Trend following | Swing traders | H1-Daily | Needs patience and wider stops |
| Triple Screen | Multi-timeframe filtering | Rule followers | H4 + M15 | Wait for the charts to align |
| Order Blocks | Institutional zones | Structure-first traders | M5-H1 | Don’t jump on every touch |
What Traders Are Saying
“Fair Value Gap is key when trading. I use it to confirm direction and hit my targets.”
– Bandal A., Prop Trader
“ORB defines structure early in the session. I want to see when it beats reversal ideas.”
– Zuwayoshiko, Prop Trader“Mean reversion with VWAP or Bollinger looks simple, but timing is everything.”
– Mabale K., Prop Trader
Andrew’s Teaching Style
Andrew teaches rules you can follow. He’s all about routines and risk setups that work with prop firm limits. Lessons walk you through entry and exit, not just theory. Plus, there’s a checklist to help you stay out of drawdown trouble.
FAQs
No strategy is guaranteed to win every time. The strategies curated by Andrew Lockwood and the PropIQ team are based on high-probability setups observed across millions of simulated trades. Your success in passing a Funded Trading Plus evaluation depends on how you apply strict risk management, position sizing, and disciplined execution. We highly recommend using Monte Carlo testing to backtest these strategies on your chosen asset before trading live.
Yes. While many of these setups are widely used as Forex trading strategies, they are rooted in pure price action and market structure. This means you can apply strategies like the Open Range Breakout (ORB) or Fair Value Gap (FVG) to Indices (like US30 or NAS100), Gold (XAUUSD), and Crypto. However, you should always backtest the strategy to adapt to the specific volatility and session timings of that asset.
No, you do not need expensive or custom indicators. Most of these top prop trading strategies rely on timing, market structure, and risk control. Strategies that do use indicators, such as the VWAP Pullback or the Fibonacci Retracement, rely on standard tools that are freely available on almost all modern trading platforms like TradingView.
The best timeframe depends on the specific strategy and your trading style. For momentum scalpers, the Silver Bullet and Open Range Breakout (ORB) work best on the 1-minute (M1) to 15-minute (M15) charts. For swing traders or those following the trend, strategies like the Turtle Trader or Triple Screen are optimized for the 1-Hour (H1) to Daily charts.
These strategies were not picked at random. They are the result of a survey of over 2,600 traders in our community, cross-referenced with real data from over 16 million simulated trades inside the PropIQ environment. They represent the setups most frequently used by successful funded traders to manage drawdown and hit profit targets.
Yes. Several of the most popular strategies voted by our community are rooted in Smart Money Concepts and institutional-style trading. Specifically, the ICT Fair Value Gap (FVG), the Silver Bullet, and Order Blocks strategies focus on identifying liquidity sweeps, market imbalances, and zones where institutional volume is likely entering the market.
The best strategy depends on your preferred trading style, but beginners often benefit from setups that provide clear market structure and rules. If you prefer to trade pullbacks with defined risk, the Fibonacci Retracement strategy is an excellent starting point. If you prefer trading early session momentum, the Open Range Breakout (ORB) provides clear boundaries for the trading day. We recommend beginners test these strategies on a demo account before applying them to a funded evaluation.
Surviving a funded trader evaluation requires strict drawdown management. These top 10 strategies include specific risk rules tailored to respect prop firm limits. For example, the Fibonacci Retracement strategy uses clear structure-based stop losses, while the Open Range Breakout (ORB) emphasizes setting “no-trade times” to avoid choppy markets that cause unnecessary drawdown breaches. Andrew Lockwood’s lessons specifically walk you through these risk setups.
Yes. The strategies curated by Andrew Lockwood cover a wide variety of timeframes suitable for different schedules. Part-time traders who cannot watch the charts all day often prefer swing trading approaches like the Turtle Trader (optimized for the 1-Hour to Daily charts) or Triple Screen Trading (using 4-Hour and 15-Minute combinations). Conversely, if you only have one hour a day to trade, time-based setups like the Silver Bullet are designed for fast intraday execution.
Ready to put these insights into practice?
A disciplined strategy requires an evaluation built to reward consistency. At Funded Trading Plus, we offer simulated programs designed to suit every style of trader. You can explore our streamlined one step challenge for complete trading autonomy, opt for our traditional two step evaluation if you prefer a structured, phased approach, or discover our instant funding program with no profit targets to begin trading a simulated funded account immediately.
Strategy Education Disclaimer
All strategy education provided by Funded Trading Plus, including videos, guides, and written materials, is for educational purposes only. Any strategies or trade examples shown are based on simulated trading environments and are not guarantees of success, profit, or passing an evaluation.
Trading outcomes depend on individual decision-making, discipline, and changing market conditions. The performance of any strategy can vary and may result in simulated losses or program failure.
Nothing in this material should be taken as financial advice or an encouragement to trade or invest real money. Trading and simulated trading both carry risk, and past simulated performance does not guarantee future results.
Before making any trading or financial decisions outside a simulated environment, you should seek independent financial advice.
About Andrew Lockwood
Andrew Lockwood is a seasoned professional trader with over 35 years of experience in financial markets. Starting his career on the floor of the London International Financial Futures Exchange (LIFFE) in the 1980s, working with the top investment banks of the time, Swiss Bank and Lehman Brothers, trading alongside the likes of Goldman Sachs and JP Morgan. Andrew has traded through multiple market cycles and volatility regimes. Today, he specialises in prop trading strategies, focusing on technical setups, risk management, and trader psychology. As the founder of PropIQ and a leading mentor, Andrew is dedicated to training the next generation of prop traders with proven, real-world trading methods.