Greetings traders and welcome back. Thank you for joining me yet again.
Chris here, bringing you another Survival Guide. Today's discussion
will revolve around the subject of how to get access to a funded trading account.
This is the account that everyone dreams of. It's an account
that has money in it that isn't yours. That's a wonderful idea in theory.
We're going to talk about exactly how to go through that
entire process, especially if you're interested in looking
at the Gauntlet Mini, you are already on your way, but without
further ado, let's dive on into it and get on going.
New traders to the trading landscape are inundated with the
high risk and high capital requirement that comes with trading.
If only there was a solution. A way that they could trade
and make money with what they are doing with their trading
process, without actually risking or requiring a huge initial
capital requirement. Well, there is. We have what is called a funded account.
What is a funded trading account? Well, a funded
trading account is a proprietary trading account that allows
a qualified individual to trade on behalf of a company.
The trader is trading with the company's money instead
of their own. The concept here is, as the trader is making
money, the company is going to give the trader a portion
of the earnings. In most cases, the portion of the earnings
is going to be far larger for the trader than it is for the company, so don't
think that it's some weird pyramid scheme because that's not at all what it is.
The company is going to actually take a very small portion
in most cases, especially here at Earn2Trade.
What does a funded trader do, or at least a prospective
funded trader, in order to gain access to such a beautiful
setup? Well, a prospected funding trader must first enroll
for an evaluation program of some sort.
This means, it is some kind of training course, or some type
of final exam that has the concept of trying to reflect their
skills and their competencies in order to better explain
to the trading firm that they are worth the trading firm's
money and time. This is a pretty simple concept. In order to
gain access to a large amount of capital that isn't yours,
of course the person issuing that capital wants to know
that you're going to do good things, or most likely going
to do good things with that capital because at the end of
the day, you're not going to go to jail if you unfortunately
aren't able to keep up with the requirements, but you may
unfortunately lose access to that funded trading account.
We'll talk about all of this as we continue along.
The Gauntlet Mini and the Classic Gauntlet
here at Earn2Trade are examples of that final exam and training
process that traders can choose to go through, so we will
use the Gauntlet Mini and the Gauntlet experience itself as
we further explain the process that someone might want to
go through if they are interested in obtaining a funded trading
account. In the funded trading account world, there are a
ton of options to choose from, and I strongly encourage that
you don't just take my word for it,
but you do your research and search through Google, check
out some reviews, and see and compare the different rates
that the trading firm itself will take in the end. Analyze
their business model, see how much money of your profits that
you're going to earn with the account, will you have to give away,
what are the fees, etc., etc. Here at Earn2Trade,
I do feel that we have a very, very competitive rate that
does strongly favor the funded account trader.
That means it is going to give the vast majority of the profits
to the trader who is earning the profits, which as a trader
myself, I feel that is exactly how it should be and I'm proud
of them. For the example of explaining the process, we
are going to use Earn2Trade's platform to show exactly
the steps that one might take in order to get set up with
with a funded trading account. The first thing to do is,
if you go to Earn2Trade's website, if that's who you choose
to go with, you'll notice that they have different account types. Here,
we have a picture off of the Gauntlet Mini page, where we
can see that we have a $25,000 account, $50,000, $100,000,
and $150,000 trading account that the trader has the
ability to gain access to. Well,
the first thing that the trader, or prospective trader needs
to do, is decide which one of these is right for them.
You can see the breakdown of all of the different information
here. In regards to the max position size, daily loss limit, profit goals, etc., etc.
All of this is available and clarified further on the site,
but the idea is, we need to select which one is right for
us. In this case, we picked the $50,000 account. We decided
that's the one that we're going to go for, so that is step one.
Step two is to smply choose the data provider.
This means, we're choosing the exchanges of which we need
that real time data pricing from. If we're interested in
trading crude oil, then we're going to select NYMEX. If we're
interested in trading ES as well,
then we're also going to select the CME, the Chicago Mercantile
Exchange, and so on and so forth. Relatively simple concept
there, but also don't forget there is a location where you
can apply a discount code. Now, they're not always available,
but it is very, very frequently that Earn2Trade is throwing
out some pretty incredible discount, so make sure you keep your eye out for them.
If you have one, this is exactly where you're going to
punch that code in as you're selecting your data provider.
Step three is going to be a relatively simple step.
We're just going to create our account. It's relatively self-explanatory.
If our name is Bob, then we're going to put Bob in our full name box.
If our display name is going to be Doctor Octopus, then we're going to put Doctor
Octopus in our display name box,
so on and so forth, working our way down. Email, retyping the
email to make sure that we didn't get any Tourette's of the
fingers as we were typing our email the first time, which
is so common in my world.
Then, we have our password section, and then we fill out our
billing information, which is just going to be our billing address
information on this page. It's not actually any payment information just yet.
Other than that, it's a relatively simple step, so easy enough, moving along.
By our fourth step, we're already just about done with
the entire process of getting it going, and that's the simple pay portion.
Everybody loves spending money. Don't lie to yourself,
it's always fun to buy something shiny and buy something
new. All we have to do here is input our buying information,
which all of us are familiar with, and click this handy
dandy complete purchase button down here, and that's it.
We've done it. We have now given ourself everything that we need in order to then
begin passing our test. There are three main tips that I recommend
before taking the exam to ensure your optimal chance of success,
and at the end of the day, that's what we want. We want you to pass.
We want you to be a successful trader because if you're making
money, then guess what? We're making money. It's a mutually beneficial relationship.
The first thing that I recommend is to pay attention
to our educational content if you are trading here at Earn2Trade.
At Earn2Trade, we have over 60 plus, and growing might I add,
educational videos covering a various amount of technical
and fundamental trading related subjects that will help further
explain different topics that can give you some of the skills
that you may need in order to pass the Gauntlet Mini, or the Gauntlet itself.
Number two is going to be use the simulator.
Here at Earn2Trade, we provide you with a simulator account.
It is an account that is going to track real market data.
It's going to track the assets that you may already be interested in trading,
but it's going to allow you to trade them with play
money. This means, you can gain all of the practice without
any of the exposure.
While you're prepping yourself in order to pass, you can
make sure that you're ready to pass by first proving that
you can exceed and succeed quite well on the simulator account,
without risking any real capital. Then number three is follow the rules.
This one is also a big one, and it is relatively quite simple. The rules,
as far as Earn2Trade's basis for passing the exam, are
going to be broken down into two categories.
The three main rules are going to be, stay within the drawdown
in the daily loss limits, avoid exceeding the maximum position
size, and don't hold positions overnight.
That means being flat when the exchange closes. Then the
goals to achieve during your experience are once again categorized
in just three sections.
We need to reach a specific profit target, which is going
to be based on the account size, and once again,
all of this is available for you on the site,
so don't think you need to remember any of this right now.
You need to trade a minimum of 15 days,
and then also, we don't want any one of your individual trades
to account for 30% or more of your total traded profit.
We want to see consistency and a continuous growth of an
account instead of a one shot winner like a lottery ticket.
The list of advantages tied to becoming a funded trader is
a lengthy list, and as such, I'm going to cover just the 4 best ones in my opinion.
The first is the fact that it is risk-free trading. What
I mean is, if you become a funded trader, you don't have to
risk your own money. You're trading on behalf of the company
and you are operating with their capital, so you don't have
to worry about the stress of losing your own money.
Number two is, start without a personal trading account balance.
This means, as you are trading, if you feel like you need to grow
a savings account that is set aside just for trading, you
can negate this entire process
if you become a funded trader because once again, you're
not trading with your own money, you're trading with the company's money.
Number three is going to be, save yourself the licensing part.
Becoming a professional trader on your own can be a very
tough process. Depending on local regulations,
you may have to get yourself licensed, pass certification exams,
comply with an extensive set of rules, ensure an often high amount
of capital requirement in order to just get going to begin
with, and it just keeps going. With trading with a proprietary
firm or a funded trading account process, you can save yourself
a large portion of that because the proprietary trading firm
oftentimes gets to exempt you from a big portion of those
events. The number four is going to be, trade from wherever
you like. This is really self-explanatory, and it's a beautifully
freeing feeling. It is the ability to move anywhere with an internet connection.
It's an awesome feeling to be not tied down because anywhere
that has an internet connection, you can go hypothetically
with a laptop and do your trading process, with maybe a few
side screens if you're like myself, and trade away.
That's all there is to it.
You don't actually have to be present in any one office.
That is one of the awesome opportunities about being a trader.
Finally, we'll cover the most frequently asked questions
around becoming a funded trader.
The first one is: Who is the funded trader program for? Well,
the funded trader program is targeted mostly at traders who
have experience trading, or not a ton of it, but they're
lacking the capital to make trading a full-time career.
Number two is going to be: How do funded trader companies
make money? Well, funded trainer companies make money by taking a share
of the traders' profits. Their share completely varies. Some
companies take as high as 50% of your hard earned profits,
which is why I strongly encourage doing your research before
signing up with any one company. Number three is: What
happens if I lose all of the funded money I received? Well
in that case, you need to pack your bags and move to Cuba.
I'm kidding that's not what happens.
In this case, it isn't possible to actually lose all
of the money that you received to trade with due to the fact
that there are things like max drawdowns and daily lost
limit. It protects the account.
It protects the capital to allow traders to continue trading
another day. Each max drawdown and each daily lost limit at
each company is going to be different,
so once again, I strongly recommend doing your research and
checking out what it is with each individual account that
you're interested in before you get going
so you're aware of all this stuff, and that way you can healthily
avoid the max drawdown.
In conclusion, becoming a funded trader is an incredible
opportunity. It can provide a trader without a large amount
of capital to pursue trading as a full-time career because
logically, if we are trading with intelligent money management,
it takes a larger account in order to maintain a healthy
degree of profits by the risk-reward ratios that most traders
encourage employing. Also, being a funded trader means
that you have someone that is there supporting you. You have
someone that is going to encourage intelligent trading
practices because once again, you're trading someone else's
money and they want to make sure that you're doing well with
it. That's an invaluable resource. Just like working out at the gym.
Everybody can get down and do a push up on their own,
but why do you think personal trainers are so popular? It's
because it is someone holding you accountable, and as humans,
that is something that most of us thrive better under, the
idea and the concept of being held accountable.
by someone else, and being a funded trader is exactly
just that. If you are pursuing the Gauntlet Mini or the Gauntlet
experience, I wish you the best of luck and I can't wait
to see you on the other side. I am so excited for you and your journey.
I will see you all very soon,
but please before you go click the like and subscribe button
down below, and I will see you guys all very soon.
Cheers everybody!