Trading is a game of numbers and statistics. We don’t make money, we make a percentage of money. Once you learn to play the game, it’s all about adding that extra zero. Because you don’t need to do more work. All you need is a bigger account. Wouldn’t it be nice to trade a $100,000 account instead of a small $1000 account?
The same 1% profit would mean you’ll make $1000 per trade. But how do you get that $100,000 account? Who is there to trust you with this much money?
Well… if this comes as a surprise to you that there are people there are you happy, very happy to give you that sort of money. (ahem, if you are willing to pay a small fee.)
So in all honesty, Gone are the days when forex traders had to beg parents, family, and friends for funding their passion.
How to become a Funded Forex Trader?
These days, you can become a Funded Trader and you have many options. You can become part of a Proprietory Trading Firm and trade with their money.
E.g. You can get yourself a$100,000 account for a refundable fee of $500 with one of the famous prop firms that can fund traders.
What’s in it for them?
These firms have found themselves in an interesting situation which is a win-win for them.
They give you the challenge to achieve say, 10% profit within a month or two. If you pass, they have found themselves a trader who can potentially make them a lot of money.
If you fail their test, well, no worries, they have made some money from you which will take care of the admin costs etc.
Should I Get Funded?
Yes, absolutely. But there are some things you must look after first.
The most important part is having a strategy that works. The next important part is your ability to execute that strategy properly.
Lucky for you, if you’re reading this inside the forum, if you’re a member of AIMS, you know that you have found a strategy that works.
Now, Suppose you have achieved Stage 3 of the AIMS Training Process you can show consistent profitability on a smaller account.
You think now it’s time to go big. Taking your trading game to the next level is the most logical next step.
Here comes the role of Prop Firms that love to fund traders who can win.
They know that 92% of traders will fail. So they are happy to give you the money but before they do that they want to test your ability a little. It makes sense indeed. Would you give your money to anyone from the internet? No, you will not. I know I will not unless I have seen a proven track record. So in order to give you this opportunity, they will charge you a fee.
In doing so, the funding company is betting on the odds that 92 out of 100 traders will fail and so by charging you the fee they can make some money.
Are you Ready to Make Serious Money?
But you, however, as a trader with a good strategy and proven track record, should fall into that top 8% of the winning traders.
So, if you’re stage 3 and you’ve been profitable for 3-6 months in a row, you can try one of these companies.
I won’t name them here but if someone wants to name a few, they are welcome.
Look at this chart! If you were lucky, you could have hit 8% profit Yesterday and pass their challenge.