How I passed a funding challenge for the first time, and how you can too as a beginner trader
I started taking trading seriously for a year now. I’ve been very interested since I was a kid to learn how to trade and make money from the markets. There’s just something about it that fascinated me.
In this article I’ll tell you my story on how I passed the first phase of a funding challenge and the trades I took so you can learn from me. Let’s go.
In order to trade you need money. I wasn’t gonna risk my own money knowing that I had lost thousands of dollars from a few bad calls in the past.
No, this time I’m getting funded. Using money from a funding company like FTMO and letting them take the risk.
What are funded accounts?
If you’re not familiar with funded trading accounts, is simply a company giving you access to hundreds of thousands of dollars for you to trade with.
To access those accounts you pay anything from $100 to $1000 dollars to buy a challenge.
A challenge is your ticket to the funded account. They give you a demo account with fake money and if you’re able to grow it by say 8% in a month, you passed the challenge and can get access to the money for trading.
From $10,000 to $200,000 trading accounts can be yours.
So for $100 you can get an account with $10,000 inside. Unless you’re a millionaire it makes sense to simply multiply your money with funding challenges.
If you have $10,000 dollars to trade, you can use that to trade and maybe make 10% on a good month earning $1,000…
OR buy 10 funded $200,000 challenges.
Let’s say you pass 5 of those challenges. Now you are trading with $1,000,000 dollars. Making 10% a good month on that is $100,000 dollars profit.
Now instead of taking that money and buying yourself a house or a nice car, you invest it back into funding challenges. For $100,000 dollars you can get 100 challenges (each potentially being $200,000).
If you pass say 30% of them, you’d have 30 trading accounts worth a total of $6 million dollars. From there you can multiply and keep growing.