Key Steps
Step 1: Understand Prop Trading 0:00
Prop Trading allows traders to trade financial markets using provided capital without risking their own funds.
The process involves passing a funded challenge to evaluate risk management and profit generation skills.
Step 2: Complete the Two-Step Evaluation Process 0:48
Phase 1: Achieve an 8% profit on your chosen account size to move to the next phase.
Phase 2: Verification phase where you must demonstrate continued risk management and skill.
Step 3: Obtain Funding Trader Status 1:16
Upon successful completion of both phases, you will receive Funding Trader Status.
This status allows you to manage the account and withdraw up to 90% of profits, depending on your level and chosen add-ons.
Step 4: Choose Your Account Size 1:39
Select the account size for your challenge (e.g., $100,000 for $549).
Understand that your target profit for Phase 1 will be 8% of the account size (e.g., $8,000 for a $100,000 account).
Step 5: Sign Up and Open Your Challenge Account 2:09
Follow the instructions in the course to sign up and open your challenge account.
Access the TradeLocker platform to manage your trades.
Step 6: Execute Your First Trade 2:27
Use the correct risk management tools provided in the course to execute your first trade.
Cautionary Notes
Ensure you fully understand the risk management tools before executing trades.
Do not rush through the evaluation phases; take your time to develop your trading skills.
Tips for Efficiency
Familiarize yourself with the TradeLocker platform before starting your challenge.
Set clear trading goals and stick to your risk management plan to increase your chances of success.