How to Get funded in 2024 (Beginner's Trading Guide)

if you want to become a funded Trader or looking to add more funding then this is the right video for you in this video I'll basically be giving a webinar on everything you need to know about getting funded so let's get this webinar started now actually before we start let me introduce myself because who am I to be giving this webinar right so I have been trading for almost 5 years now and with profence specifically I've been trading it for over 3 years I have made over $400,000 000 in prop form withdrawals throughout those years and I've had overall six figure withdrawals with multiple firms as we can see here with one of the popular ones ftmo I have withdrawn over six figures I have the QR code here if you want to verify I also have made it on multiple firms leaderboard so as you can see down here with another one of these firms you can see a profit of almost 40K and then you can see down here on the leaderboards I was in six and seven place with a total profit of 26k on each account and one big thing is that I actually started with not much I used to work as a Dorman and eventually I was able to fulfill my dream to become a six-figure day trader with the help of prop firms so I hope this webinar can help you guys fulfill your dreams to make some money with this opportunity now also on top of that I've met with many seven figure funded dat Traders I've met many traders who have had overall six figures withdrawals and also I have met many individuals and actually talked to on a constant basis who have made over a million in prop firm withdrawals so as we can see here this is jcap on my left he has made around a million dollars in prop fir withdrawals and then on my right we have Pasquel who has made over $2 million in prop for withdrawals so not only do I have the experience not only do I have the payouts but I also have the network I've also been able to to talk with many of these top Traders and find similarities between them and I will be sharing this in this webinar so now let's officially start this webinar now the course breakdown of this webinar will just be part one will be the foundation to Prof firms part two will be the best approaches for passing a challenge part three will be how to consistently profit from funded accounts and then part four is my favorite part which is the case study on the best prop Traders let's start with part one what is a prop firm right a Prof firm is basically a firm that will give you Capital to trade with them in which they'll give you a profit split now what we see today is what I would consider as a modern prop firm these prop firms don't give you real Capital they give you simulated Capital but still whatever you make on the simulated Capital they give you you get to keep 80% of the profits for most of these firms so for example if one of these modern prop firms give me 400k in simulated capital or 400k in funding and if I make 10K on that I get to keep $88,000 real money and they take the $22,000 so that's basically what a Prof from is now let me explain my Prof fir Journey so I started trading in 2019 and my first year of trading I was not profitable at all I went through so many different Educators so many different courses I think I went through like eight different Educators in that year alone I made that common amateur mistake where I just kept rotating between Educators because I was not finding profitability only years later that I realized that you have to stick to one strategy and just build a system around that and then in 2020 I discovered ftmo my first ever prop firm and I also discovered ICT which is the strategy that I use today and then in 2020 I started my first ever challenge I did a 50k Challenge and eventually in 2021 I was actually able to get that challenge I was actually able to pass it get funded and make my first 8K withdrawal with that however that was through pure luck or I was just having a winning season and I eventually ended up blowing that entire withdrawal I put some of that money into an unregulated broker I put some of that money into more challenges to get more funding but however I ended up losing everything I ended up that year down1 $20,000 and I eventually started working as a doorman and then in 2022 after going through all those lessons I learned in 2020 and 2021 I was finally able to get a 6 figure funded account and then grow it into a 400k funded account I was able to get Max allocation with ftmo and soon I eventually became a seven figureure funded Trader and eventually I was able to withdraw over $200,000 in prop for withdrawals in that year alone so just a little recap 2019 I was not making any money 2020 I was not making money at all 2021 I was down1 $20,000 and then in 2022 I was able to end the year with over $200,000 in Prof Fromm withdrawals and now in 2023 I peaked at 2 million in funding I have a six figure personal account and I've already made over six figures so now let me just set some expectations about prop firms now the prop firms itself will not give you that Lambo lifestyle will not give you that Penthouse lifestyle that we see on Instagram with these Forex grus however it's a great way to start trading when you have the skill set down right for example if somebody is a great Trader but they do not have enough Capital they won't be really making much that's why profs are really really good for Traders who now have the opportunity to trade large amounts of capital and make a lot of money from them now the second thing is that this is a long and arduous Journey if you are completely new to trading and you just got into profs and you think you're going to be making consistent withdrawals in the first year I'm sad to say that there is a very high likely chance of that not happening because you need to have experience to understand what to do what not to do which system works for you whether you have an edge or not now the last bullet point is that more than 95% fail to make it to payout now this statistic from my theory is that there's just too many traders that start a challenge without having the skill without even having proper risk management without having a proper approach they just go in gamble it and hope to get funded the next day and that's why majority lose so those are just some expectations I want to set about prop firms now while use profs like I said you are not going to flip whatever amount of money you have in your bank account $500 $1,000 into a full-time career right however with this opportunity if you have $500 and you have the skill set you have the proper approaches hopefully which you will gain by the end of this webinar then you can invest into 100K challenge take your time with it and eventually if you pass it get 100K funed account now with that 100K funed account you basically have 10% of it right you basically have $10,000 of capital to trade and if you are able to make a consistent 1% 1 to 3% a month that's $1 to $33,000 on 100K fun the account and getting 1 to 3% a month consistently is pretty realistic and attainable that's why I highly recommend profs if you use it the correct way now part two we're going to speak about the approaches for these challenges now before I talk about these approaches right just understand that there isn't one way to approach it right everyone's circumstances are different there are many factors you must consider before you even tackle the challenges for example what is your financial situation like what is your experience what is the level of your skill set how many funded accounts do you have so that is why in the next couple of slides you should try to decide which category you fit in so the first one is the conservative this is for those who are new the prop firms or want to have the lowest chance of losing their account usually this is a much lower risk now the second one is the recommended one for those who want to be right in the middle and now the third one is the very aggressive one which is for those who don't mind blowing their account to pass a challenge quick a lot of Traders have a bunch of different funded accounts or maybe they have a bunch of money in their bank account and they're willing to go aggressive have a higher chance of blowing it however they pass it much quicker right but then there's some people who use their entire paycheck for a challenge and that's why I recommend the conservative or the recommended one now let's talk about the first one the conservative now the conservative one is you just risk 0.5% per trade idea until you're up 2% once you have that cushion of 2% then you can continue to risk 1% until you're back to original balance or until you pass and I'll explain further now the first one like I mentioned risk 0.5% so if you have a 100K account right and this is all relative right it all depends for some people they can't really afford 100K account that might be their monthly income right some people that might just be their weekly income so this is all Rel relative right don't look at the 100K account maybe if you're in a lower income area you can look at this as a 10K account I'm just using 100K account because it's a round number and it's very easy to use as an example now you have 100K account you start out risking 0.5% which is basically 500 and then once you get your account to 102,000 or once you're up 2% and then if you like you can start risking 1% which is $1,000 however once you're up $102,000 right and you're risking 1% if if you end up losing the next two trades so negative 1% 1% which is -2% total and you're back to original balance you have to go back start again and start risking 0.5% again now for you to blow this account it would take you 20 trades in a row to lose so that is why I consider this as a conservative obviously this will take much longer but you have a much lower chance of blowing this challenge now a second rule just to simplify it I like to use a one or two or 10 or three just because you are able to get out of losing streaks much quicker for for me my psychology goes down the drain when I start having losing streaks so that's why I like to stick with a lower risk tool award to get me out of these losing streaks much quicker number two is having a strict RR will just give you a system in place so you don't have to think in a trade oh should I keep holding the trade should I take profits should I do partials you just either stop loss or one or two and then the third one is with a lower risk to reward even if your higher time frame analysis is wrong right sometimes you're still able to catch that small move and it can be a winning trade I've had that happen me multiple times so that's just an explanation of the second rule now the third rule is maximum two wins in a day to prevent overtrading maximum two losses in a day to prevent Revenge trading maximum four losses in a week if you take maximum four losses in a week then just stop trading because that's probably a horrible week this is pretty simple it's pretty self-explanatory now the second one this is the approach that I recommend right you're not going to get funded real quick but it's also not going to take you forever to get funded right so you start out risking 1% now once you're up 4% you can risk 2% if you like and if you look down here you can basically see what I'm talking about if you are starting off with original balance at 100K you can risk 1% once you're up 4% which is 104k then you can risk 2% however if you get below -2% if you're between 90k to 98k then you have to cut your risk down to 0.5% until you're back up into this range and then the third one is a very aggressive approach now for this you can risk anywhere between 2 to 4% hoping that you pass now this approach is probably for few percentage of people who have a bunch of different funded accounts or who have money in their bank account to spend on these challenges if you like you can risk anywhere between 2 to 4% hoping that your next trades are winning trades and that you pass in a few trades like I said a very high chance of blowing the account and it does somewhat rely on luck and you also do need High skill level to determine these A+ setups that you want to execute with such high risk and now for me if I started from nothing all over again but I do do have my current experience my knowledge and my skill set how would I approach these challenges and personally for me I would do do the recommended approach on the skill challenge now what is the skill challenge it's basically a challenge with skilled funded Traders one of the very few firms that have a 6% profit Target right so if you have proper risk management if you're not going over 4% max daily draw down which you shouldn't be going over in the first place then this challenge is what I highly recommend all you need is 6% for for Phase 1 and 6% for Phase 2 so if I risking 1% using the recommended approach and I win the first three trades then basically I pass a challenge right because all you need is 6% now the worst case scenario is if I lose the first two trades and I was risking 1% then I just cut my risk back to 0.5% and then eventually when I get back to original balance I continue risking 1% and hopefully pass the challenge and then for phase two what I always do is just risk 0.5% until I'm up 2% and then I risk one 1% now also if you're interested in doing the skills challenge I have a coupon just for those who watch this webinar so be sure to check the bio and use that coupon now like I said approaching verification should be very simple you risk 0.5% until you're up 2% and then you risk 1% just because you want to take the verification a little more conservative because you are basically one step away from getting funded now the part three this is my favorite part how to consistently profit from funded accounts now before we talk about anything related to funded accounts I want to talk about this concept called building an empire which is a concept that I actually created and I highly recommend you implement now building an empire so say for example you're starting off with your first ever Challenge and we're going to use a 50k challenge for this example now after using whether the conservative or the recommended approach you pass the challenge and now you finally have a 50k funded account right now with this 50k funded account your goal your only goal should be to make a 1% % profit and stop trading that account you want to get that 1% profit and you also want to get that refund now once you are able to make that 1% profit you sto trading that account and now you can buy another challenge which is the same amount or you can even buy a challenge that is even worth more if you would like to take that extra risk and then while you wait for your payout you're starting this Challenge and eventually once you pass this challenge you'll get another you'll get another funded account so now you have two accounts and then eventually you just keep repeating the process right once you hit that 1% profit Target you stop trading you go on to do a challenge and then eventually you get another funded account and then you'll just have at the bottom a bunch of different funded accounts and this is the goal your goal is to build your Empire right you want to have an Empire of many funded accounts because in the end the more Capital you have the more money you can make think about it a million dollar in funding if you get a 1% profit on that that's $10,000 now say for example all you have is 100k and even if you're a great Trader and you can make 5% then that's only $5,000 whereas with the million all it took you was 1% and you made $10,000 so capital is very very important no matter your skill set the more Capital you have the higher chance of making way more money and I'll talk about it further in the webinar so the next point is the profit rule so I have created this profit rule which many people don't like but they don't understand that a lot of people lose their funded accounts and actually the next slide will be a stat on it so what is the profit rule well during the fun stage when you finally have your funed account like I mentioned your goal is only to get 1% meaning once you're up 1% in profits you stop trading and you wait for a payout and in the meantime you can continue trading but you're going to continue trading on your challenge accounts or maybe if you have more funded accounts you can trade on your funded accounts and your challenge accounts but once your funded account hits that 1% profit you must have the discipline to follow your rules and stop trading so why 1% right so think about it mathematically right what are your chances of hitting that 1% profit rather than hitting that 10% Max draw right most of the time you'll be hitting that 1% profit so if you have a 200k funded account you'll be making $2,000 consistently every 2 weeks or every month on that account and while you're getting that consistent income you're getting more Capital to build your Empire and eventually maybe your 200k account might increase to a 400k account and then your 400k account might increase into seven figures in funding and eventually once you have that seven figures in funding you're making 10K a month from just 1% profit so that's why I highly recommend the follow the profit rule our goal is not to make the highest percentage return in a month rather our goal is to get more and more funding while making sure to keep our funded accounts and get some sort of consistent income out of it so why why have I created a profit rule because I have seen over and over again so many people lose their funded accounts I have lost my funded accounts trying to make more and more and more and eventually just blowing it the CEO of the funded Trader one of the top firms said that out of all the people who get their funded account right 70% of them fail within the first two weeks 70% this is not an opinion this is math behind it that 70% people lose their funded accounts within the first two weeks of getting funded now imagine if those people follow the profit rule right imagine if those people instead of getting greedy instead of trying to some crazy returns instead they stuck to that profit rule where they once they were up 1% they stopped trading that account and start a challenge then this statistic will be much lower and those people will probably would have the funded account maybe even more Capital that so that is why I created The Profit rule yeah you might not make money in the short term but in the long term you will stay in the game and you will potentially even make more money in the long term as you build your Capital as you can see in the second stat here by a firm called funding next you can see that 12% of their Traders right only take 3 to 10 trades in the month yet they take over 55% of the payouts which goes to show that you don't really need to be trading much right if you're doing the profit rule it'll only take you a couple of traes to hit that 1% profit depending on how much you're risking so guys we want to avoid being in the bad stats and we want to be included in the good stats and that is why I highly recommend you guys please follow the profit Rule now this is my trading plan that I have created for my funded account so the max you can risk is 1% per trade idea you should not be risking over 1% per trade idea because basically if you're risking 1% on the funded account right essentially you're risking 10% of that Capital right because they give you 10% Max draw down so for example 100K account you have 10% Max draw down so you really only have $10,000 to play with right so risking 1% is basically risking 10% and risking 10% is pretty crazy so so I highly recommend do not ever go over risking 1% per trade idea now for me when I'm down -2% I will bring my risk to 0.5% until I'm back to negative 1% so for example if I'm starting off risking 1% right and then I lose the next two trades and now I'm at $98,000 or below I'll just risk 0.5% until I'm back to original balance so it's pretty crazy if you use the profit Rule and you're trying to just aim for 1% profit all it requires is a couple of good trades to get to 1% however to get to your max daily draw down it would require over 20 losing trades to get to the Max draw down so that is why I have the rule set like this and then number two is just maximum one trade per session so this is something I recently added if I see a clean trade setup in London session I'll just Place one trade if I see clean set up in New York session I'll just Place one trade what I realize is that when I start placing too many trades it leads too much room for error right it leaves too much room for me to make a small stupid mistake which can eventually lead to something big or or eventually lead to me losing my account so that's why one trade per session keep it very simple keep it very organized and the worst case is that I'll only lose -2% Max or the best case is that I hit that 1% profit Target now like I've said over and over again your goal is not to increase your returns per month rather your goal is to increase your Capital many people they'll try to get some crazy returns in the month and they'll either get that crazy return or they'll either blow their account and most time they blow their account so if you just focus on the profit rule 1% on your funded accounts and then work on building more Capital that should be your goal with these funded accounts so now for the last part of this webinar which is the case studies on these top six and seven figure Traders now the first one is jcap so jcap manages 5.5 million in prop from capitals and he has made over $1 million in prop from withdrawals and jcab is actually a great friend of mine I talked to him almost on on a daily basis and I have seen how he trades I have seen how he approaches his challenges how he approaches his losing streaks how he approaches his funded accounts and what I've noticed is that how he approaches his funded accounts is that he only risks 0.25% per trade idea so yeah he risks a really small amount because for him risking 0.25% is a comfortable spot right if he were to lose that trade he is perfectly fine because it would take a lot of trades for him to lose his funed account but also at the same time 0.25% for one or two basically 0.5% on the 5.5 million dollar profit from account that is tens of thousands of dollars and I've actually seen jcap over the years build his Capital Slowly by slowly I remember he used to be at 2 million last year he continued never risking more than 1% of his funing accounts and just slowly build his capital and capital and now he's in a position where he has 5 million in profit from Capital has made around 1 million in withdrawals using proper risk management and also what I noticed is that when he's up a couple percentage on his account right he never continues trading and says let me try to make 10 20% he just trades until he's up a couple percentage and then he stops trading that account waits for a payout and in the meantime he's either doing a challenge or he's either working on his other funed accounts so jcap basically is doing the profit rule however his profit rule is that he will stop trading around 2 to 3% whereas I highly recommend just having a Prof profit rule of just 1% now case study number two is Arman now Arman is not a Trader who has made Seven figures in withdrawals right but he is a Trader that has made six figures in payouts but not only that he has never ever blown the fund of account right he has seven figures in funding and he has never blown an account and has made consistent withdrawals he's actually I believe one of the top consistently profitable traders in TFT with over 40 consistent withdrawals in a row and guess how he Trad trades right he is a prime example of using the profit rule so how he trades is that he risks 1% on his account he always goes for one to one and the moment he makes a 1% profit he stops trading he does not go for 2% he does not go for 3% he just stops trading and works on his other accounts or Works to get more funding so he also told me that when he is down a couple percentage right he cuts his risk to 0.5% and basically this profit rule is just something I have created based off these top consistently soft Traders and it goes to show that it works and it also makes a lot of sense on why it works and how if you are able to actually implement this you too can become like a jcab you too can become like an Arman you too can become like me so that is basically all for the webinar now before I end the webinar I do want to mention that I do also have an exclusive Community where we provide the best knowledge and resources as you've seen with the value from this webinar I have a lot more content on my full trading strategy on how to improve your trading psychology on how to get more funding I also do have weekly outlooks where I go over the charts and talk about what am I looking at you get to see my trade ideas you also get to join my Discord where there are many other multiple sixf figure funded Traders we also have an accountability Channel where we'll keep you accountable to not trading your account anymore once you hit that 1% profit rule because accountability is big in this industry and finally we also have weekly calls on psychology as psychology is very very important to keep us sharp so if you want access to this course and this exclusive Community which is worth thousands of dollars I am giving it for a very low price of only $550 and the price will increase so be sure to check out the bio and sign up now if you want it for this current cheap price now thank you guys for watching this I hope you guys gain value this is based off my four years five years in this industry so many losses so much pain went through acquiring this knowledge and I'm just glad that I'm able to share with you guys so please subscribe guys thank you for watching and I'll catch you guys in the next video or in the community

Channel: Paladin

Views: 169,470

Keywords: Paladin, Day Trading, Prop Firm, Forex Trading, Trading for Beginners, Prop firm, trader, Trading, day trader, my forex funds, finance, business, capital, How to Get funded in 2024 (Complete Beginner's Guide), paladin bhutia, life of paladin, How to Get funded in 2024 (Beginner's Trading Guide), paladin prop firm trading

Id: JJwKIn18fsk

Length: 25min 0sec (1500 seconds)

Published: Sat Jan 06 2024