If you studied at the prestigious School of Pipsology, you probably know this already.
But if you’re new around here, let us point at the big elephant in the room:
Lambo wealth won’t come overnight, especially if you have a limited budget.
Pretty upsetting, right?
If you’re skeptical, let’s talk numbers…
Mr. Shawn Kalper is an eager disciplined trader. He manages to generate 10% profit per month accurately as a Swiss clock.
Wow, this guy is on fire! ????
Shawn is also a nice guy, he loves dogs, and he’s a science freak. His favorite quote is from Einstein:
Compound interest is the eighth wonder of the world
Of course, ’cause he knows that hitting a +10% per month consistently, after 3 years, would evolve into an astonishing +3000% profits.
But wait! Don’t buy your Hollywood mansion and lambo just yet!
Here’s your elephant:
It seems that our friend, Shawn, is having the life that every trading Youtuber wants, being profitable for 36 months in a row, generating a dazzling +3000% in profits, but…
If you started trading with a small account, let’s say with a small deposit of $100, you’ll soon realize that +3000% means a total balance of $3100.
Divide that by 36 months, it’s $86.11 per month.
That’s why we told you to hold on to that expensive mansion.
The way to wealth is a long, long-term game. However, if you’re confident about your trading skills, there’s something you can do to accelerate your trading career.
Have you ever heard of Funded Account Challenges?
For a small entry fee, you’ll get the chance to prove your trading skills for a trial period.
If you manage your risk while growing the account steadily, you’ll get funded by a trading firm, trading their capital in exchange for a rewarding profit split in your favor.
That means that with an initial budget of $250 you might be trading a $25K account in less than a month. And the good part is… you’re not liable for the losses.
But remember, the road to profitability is not that easy.
Trading firms out there might be bragging about funding everyone here and there.
Now ask yourself a question:
If you were a trading firm, would you give access to your funds easily?
Nope, you’d want to stay away from gamblers or stop-loss non-believers.
You’d probably fund traders that bring value to your trading firm, that generate consistent profits, fostering a happy win-win situation for everyone in the room.
So, how to choose the best trading firm out there?
Here are some tips and tricks to consider:
- Beware of challenges that are too easy or have no info about consistency. No real investor would entrust their capital to gamblers.
- Verify that the trading firm gives you a real account once you get funded. Many businesses prefer to award good traders with demo accounts. That suggests traders are being paid off money made in sales, and not with a genuine profit split.
- Make sure the rules to pass the challenge are written in black on white, with reasonable drawdown limits and profit targets.
I know we’re repetitive, but It’s not easy to make money in the market consistently, so make sure to try your Funded Account Challenge only when you’re fully ready and have tested your strategies on demo accounts for some time.
The rest will come naturally.
Whatever trading career you’ll choose, stick to it, improve it daily and success will come. Focus on the process. Keep on rocking and good luck.