What Is A Funded Trader and How To Successfully Become One?

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Picture this: you have your trading strategy down pat, but you don’t have enough capital to execute your plan. You could limp along with a small account and hope for the best, but that rarely works. A better option is to use a funded trading program that gives you a sizable account to trade. This blog will discuss what a funded trader is and how they can help you achieve your trading goals, such as trading forex, stocks, crypto, and precious metals through the best-funded trading accounts

AquaFunded’s funded trading program is a valuable tool for achieving your objectives. It gives you access to a large trading account with natural capital to trade your plan and execute your strategy without a small account's emotional and financial rollercoaster. 

What Is A Funded Trader

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What Is A Funded Trader

A funded trader uses a trading account financed by a prop firm to trade financial markets. Instead of relying on their capital, a funded trader gets access to a large sum of money from a prop firm that allows them to execute trades. The firm’s capital is used to fund the trader’s account so they can earn profits from trading without risking their own money. 

The trader does not take on the firm’s capital as a loan but as an opportunity to earn a share of profits in return for using the firm’s resources. Funded traders get access to advanced trading platforms that allow them to execute trades more efficiently and without the fees associated with trading on retail accounts. In short, a funded trader gets to trade like a professional by leveraging the resources of a financial firm.

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How Does A Funded Trader Work

how does it work - What Is A Funded Trader

A funded trading account allows traders to trade financial markets using a trading account and capital supplied by a proprietary trading firm or prop firm. These accounts are “funded” because traders do not have to use their money to execute trades. Instead, they receive a share of their profits while trading the firm’s capital.

How Do Funded Trading Accounts Work?

Funded trading accounts work by first simulating the trading experience with a firm’s capital. A trader must demonstrate their skills in a simulated environment to earn a funded account. Most simulated funded accounts work similarly: 

  • Prop firms assume the financial risk for the trades. As such, they have some entrance criteria before giving someone simulated funding.
  • Typically, the trader must complete at least one challenge. The challenge is a chance to show you can execute successful trades consistently. In other words, you’re showing that you didn’t make a profit by luck! 
  • The challenge period ends. If you’ve demonstrated that you’re a promising trader, you can keep a share of the simulated profits generated.  
  • The firm will continue to support you and offer in-built risk management to help you along the way.

Funded Trading Program

AquaFunded is a Dubai-based funded trading program that allows traders to access large capital accounts and earn up to 95% profit splits. The company provides a unique funding model with easy-to-achieve 8% profit targets and fast bi-weekly payouts, with an option for the first payout in just 7 days. 

AquaFunded caters to traders of all experience levels, from beginners to those with a few years of experience, who want to trade with reduced risk using the firm's capital instead of their own. With its competitive features and UAE-based operations, AquaFunded aims to stand out in the crowded prop trading market and provide a trustworthy platform for traders looking to scale their profits. 

Get started with AquaFunded's funded trading program today!

How Much Do Funded Traders Make

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Funded traders can earn a substantial income, but their exact earnings vary widely depending on several factors. Based on data from ZipRecruiter, the average annual profit for a funded trader in the United States is approximately $96,774 as of August 2024. This breaks down to around $46.53 per hour, $1,861 per week, or $8,064 monthly.

What Influences Funded Traders' Profits?

Several factors will influence how much a funded trader can earn.

Trading Skill and Strategy

A trader’s ability to consistently generate profits is crucial. Skilled traders who effectively navigate market volatility and apply successful strategies tend to earn more.

Market Conditions

The state of the market significantly impacts potential earnings. Bullish markets often provide more profit opportunities, while bearish or flat markets can be more challenging.

Risk Management

Effective risk management is essential to maintaining a higher profit margin over time. Traders who limit their losses through disciplined risk strategies will likely achieve consistent profits.

Profit-Sharing Structure

Funded traders typically share a percentage of their profits with the funding firm. The profit split varies by firm, and more favorable terms can be offered to high-performing traders.

Account Size

The capital provided by the firm plays a significant role in potential earnings. Larger accounts allow for bigger trades, which can lead to higher profits.

Experience Level

Experienced traders generally have a deeper understanding of market dynamics, which often results in higher earnings.

Leverage

Leverage allows traders to control more prominent positions with less capital. While it can amplify gains, it also increases risk, potentially leading to higher profits or losses.

While the average annual earnings for funded traders are around $96,774, the actual income can vary based on their skills, market conditions, and the firm's resources.

How To Become A Funded Trader In 5 Simple Steps

a trader getting funded - What Is A Funded Trader

1. Research and Choose a Provider

The initial stage in obtaining a funded trading account involves researching and selecting a provider. Numerous firms grant access to a funded trading account; however, they all come with different requirements and conditions. Do your homework and pick a provider that aligns with your trading strategies and goals. AquaFunded is the ideal platform for funded trading.

2. Meet the Eligibility Requirements

After choosing a provider, the following step is to meet their eligibility criteria. These requirements differ from company to company but generally include minimum trading experience, profitability in a simulated trading environment, and a clean trading record.

3. Submit an Application

After meeting the eligibility requirements, the next step is to apply for a funded trading account. This usually involves filling out an online form and providing supporting documents such as:

  • ID
  • Proof of address
  • Crading records

Before applying, carefully reviewing and double-checking all information is a good idea to avoid delays or rejections.

4. Pass the Evaluation Process

Once you submit your application, it will undergo an evaluation process, during which your trading skills and strategies will be tested. This may involve trading in a simulated environment or providing a track record of past trades. 

This evaluation aims to ensure that you are a skilled and profitable trader who can manage a funded trading account.

5. Sign the Agreement and Start Trading

If you pass the evaluation process, you must sign an agreement with the provider. This agreement will outline the terms and conditions of the funded trading account, including:

  • Profit-sharing arrangements
  • Risk management guidelines
  • Any other rules or restrictions

Once the agreement is signed, you can start trading with your funded account and benefit from its benefits.

13 Best Funded Trading Platforms For Successful Trading

woman discussing best funded accounts - What Is A Funded Trader

1. AquaFunded: Your Gateway to Major Trading Capital

AquaFunded is a funded trading program based in Dubai and offers traders access to large capital accounts with profit splits of up to 95%. With its competitive features, AquaFunded aims to stand out in the crowded prop trading market and provide a trustworthy platform for traders looking to scale their profits.

2. Apex Trader Funding: Fast and High-Profit Splits

Apex Trader Funding allows you to get started fast and access the futures market with limited risk to your capital. Generally, traders can get approved in as little as 7 days and seek somewhere between $400,000 and $4 million for their trading. You can connect with Rithmic or Tradovate, trade on holidays, and much more.

With Apex Trader Funding, you get to keep the first $25,000 you make, and profit splits remain at 90% for the most significant accounts. There are no daily drawdowns, and you can open up to 20 accounts. They often run promotions where you can get 80% off accounts, making them one of the cheapest funded trading accounts.

Pros

  • Fast approval process: Traders can often get approved within 7 days.
  • High funding amounts: Traders can seek up to $4 million for trading.
  • Favorable profit splits: You can keep the first $25,000 you make and enjoy 90% profit splits for larger accounts.
  • No daily drawdowns: Avoid the risk of losing your trading capital due to daily drawdowns.
  • Multiple account openings: Open up to 20 accounts.

Cons

  • Strict performance requirements: Traders must meet specific performance criteria to maintain funding.
  • Limited control over trading strategy: Funding providers may have restrictions on trading strategies or leverage.
  • Potential for account closure: The funding provider may close the account if performance falls below expectations.

3. IC Funded: Flexible Assessments and High-Profit Splits

IC Funded is one of the best prop trading firms for traders looking to scale their trading operations and maximize profits. What sets IC Funded apart is its flexibility in the evaluation process, where time limits don’t pressure traders. This is a big deal because it allows you to trade at your own pace, focusing on strategy and skill rather than racing against the clock. Plus, with a profit split up to 80%, it’s a fantastic deal for traders who want to keep more of what they earn.

Another reason why IC Funded is the go-to choice for many traders is its broad range of tradable instruments and support for popular trading platforms like MetaTrader 4 and 5. Whether you’re into forex, crypto, or commodities, IC Funded has you covered with top-tier tools that help you execute your strategies effectively.

Trading Style Flexibility

The firm also allows various trading styles, from scalping to hedging, so you can trade in the way that best suits you.

The firm also engages with its community through social media, keeping traders updated and connected. These factors combined make IC Funded a top choice for traders serious about growing their trading careers while enjoying the flexibility and support needed to succeed.

Pros

  • No time limits on evaluations
  • Profit split up to 80%
  • Access to over 150 trading instruments
  • Flexible trading strategies allowed
  • Bi-weekly profit withdrawals

Cons

  • Not regulated by major financial authorities
  • The initial fee is non-refundable
  • Limited asset selection compared to some firms

4. FXIFY: A Prop Trading Option for Forex Traders

FXIFY helps you get into prop trading and is a top option for forex traders. This platform allows you to take a one- or two-phase assessment depending on your trading comfort. Plus, you can work at your own pace to build confidence and earn more.

FXIFY offers prop traders various benefits, including profit:

  • Splits up to 90%
  • Funding up to $4 million
  • MT4 and MT5 functionality

Flexible Trading Terms

Traders can enjoy customizable leverage, tighter spreads than the competition, and no trading restrictions. The platform provides instant payouts, has no consistency rules, and allows unlimited trading days. After their first payout, traders receive a 125% refund on their assessment fee.

Pros

  • Accessibility: FXIFY allows traders to get started with prop trading quickly and easily.
  • Flexible assessment: Choose a one or two-phase evaluation based on your comfort level.
  • Work at your own pace: Build confidence and earn more at your speed.
  • High profit splits: Earn up to 90% of your earnings.
  • Large funding amounts: Access funding up to $4 million.
  • MT4 and MT5 compatibility: Trade on popular trading platforms.

Cons

  • Performance requirements: Traders must meet specific performance criteria to maintain funding.
  • Risk of account closure: Failure to meet performance targets may result in closure.
  • Limited control over the trading environment: As a prop trader, you may have less control over certain aspects of your environment than a fully independent trader.

5. FTMO: A Popular Prop Trading Firm

FTMO is among the most popular and reliable prop trading firms, offering its trading services since 2014. FTMO provides competent traders with funded trader accounts with funds up to $1 million. Before the traders could receive the funds, they had to undergo a two-phase evaluation process, including:

  • Trading challenges 
  • Account verification process

A Platform for High-Potential Traders

The FTMO platform claims its evaluation process is challenging and designed to attract the best traders. FTMO claims that consistent traders can become successful at FTMO even if they lack the proper trading skills, as the platform provides a performance coach, account analysis, and many other helpful trading tools to guide inexperienced traders. 

Lucrative Profit Split and Trading Challenges

The profit split ratio at FTMO is also higher than many other platforms at 80: 20%, and the trading challenges are also achievable. The traders also have the advantage of getting high leverage with reliable customer service. 

Diverse Trading Opportunities and Comprehensive Support

Regarding trading instruments, there are 44 forex trading pairs and 10 cryptocurrencies. Therefore, FTMO is considered one of the best prop firms for Forex traders. However, traders can trade indices, commodities, and stock CFDs.

Pros

  • High-profit splits
  • Maximum currency pairs
  • High leverage
  • Effective trading tools

Cons

  • Source of funds is unknown
  • Lack of technical assistance

6. Fidelcrest: A Prop Trading Firm for US-Based Traders

Among some of the best-funded trader programs, Fidelcrest has also made its place through its exceptional trading services. Founded in 2018, Fidelcrest is among the few prop firms that cater to citizens in:

  • US
  • Canada
  • Australia
  • Other developed countries.

Fidelcrest provides traders who pass its 2-phase evaluation challenge with a funded trading account of up to $2 million. The trading rules at Fidelcrest are competitive and require traders to demonstrate effective trading strategies and consistency to achieve their targets.

Affordable Trading Accounts

At Fidelcrest, traders can get an affordable trading account with the most advanced platform and proficient customer service.

Fidelcrest is affiliated with a reliable and regulated broker, so the firm is trustworthy. Fidelcrest also offers multiple rewards and bonuses to its customers, such as an acceleration plan and plan double, which adds value to the overall trading experience.

No Copy Trading

Traders cannot use copy trading or EAs during Fidlecrest's evaluation phase. This is a big disadvantage, especially for new traders who rely on the strategies of other successful traders. This shows that the company aims to generate maximum profits through competent traders rather than provide opportunities to new traders in the market.

Pros

  • Partnered with a related broker
  • Low subscription fee
  • Rewards and Bonuses
  • Advanced trading platform MT4, MT5, C Trader

Cons

  • No Copy trading
  • Rigorous evaluation process

7. The 5ers: Generous Profit Shares and Salary Options

Offering trades in forex, indices, metals, and securities, the 5ers provides some of the most generous profit shares in the industry. The company allows up to 100% split and even salary offers for top traders. Traders can access the platform immediately after passing the evaluation, the price of which starts at $95, and there are no subscription fees.

Users gain access via MT5, and the standard leverage is 1:10. Still, it can move upward to as much as 1:30. Capital funding ranges from $6,000 to $4 million, with easy scaling options and the freedom to develop your trading strategy. They are also currently running a promo for a 10% discount on the $10K Hyper Growth Account. 

Pros

  • Generous profit splits: Offers some of the highest profit shares in the industry, including up to 100% for top traders.
  • Salary offers: Provides salary options for exceptional traders.
  • Quick access: Traders can start trading immediately after passing the evaluation.
  • Low entry cost: Evaluation fees start at $95, and no subscription fees exist.

Cons

  • Performance requirements: Traders must meet specific performance criteria to maintain funding and profit splits.
  • Limited control over the trading environment: As a prop trader, you may have less control over certain aspects of your trading environment than a fully independent trader.

8. Top Step: A Leading Prop Trading Firm

Topstep is another proprietary firm that holds the position of a top brand in the financial markets. Traders can sign up for a futures trading account on Topstep by agreeing to participate in the Traders Combine funded account program. Traders who pass the trader combine challenge can earn up to $ 300K in real-time funds in their funded futures account.

Trading with Topstep offers many advantages, which is why it is also considered the best prop trading firm in the financial market. Numerous courses, quizzes, and other coaching programs provide technical assistance to traders. Topstep’s trader communities and forums are also the talk of the town among traders. 

User-Friendly Platform with Fast Payouts

Tostep is also popular among traders due to its fast and easy payout process and 14-day free trial account. The firm claims to process withdrawal requests within the same day. Topstep's profit split ratio is phenomenal, up to 100%, higher than many other prop firms. Traders get the chance to trade on a variety of trading platforms, such as:

  • TS Trader
  • Trading View
  • R Trader 

Lucrative Profit Split and Flexible Account Options

Topstep offers three different account sizes, ranging from $50k to $100k, with subscription fees of $165, $325, and $375 per month. This is a monthly recurring fee, not a one-time subscription fee like other platforms. 

Clear and Achievable Trading Targets

The profit targets of each account are $3,000, $6,000, and $ 9,000, respectively, with a daily drawdown of $1000, $2000, and $3000 and a total drawdown of $2000, $3000, and $4000. The targets are not in percentages but in specific amounts, making it clearer for the traders to calculate and set goals.

Pros

  • Free trial account 
  • 100% first $ 5000 profit
  • Easy one-step evaluation
  • Funded trading coach

Cons

  • Limited trading instruments
  • No customer service on weekends

9. Audacity Capital: A UK-Based Firm with a Unique Selection Process

Audacity Capital is a UK-based prop firm providing funded accounts to customers globally since 2012. Traders affiliated with this firm can trade forex, indices, and commodities on the MT4 trading platform. Like all other funded trading programs, Audacity Capital also provides funds to experienced and talented traders who earn profits for the company.

To become funded traders, individuals must follow a different selection process, unlike other firms’ standard evaluation phases. At Audacity Capital, traders have to fill out a registration form and can apply for a funded account after passing the online or face-to-face interview session. Successful candidates are offered account sizes from $15,000 to $480,000 at a 50% profit split.

Multi-Stage Funding

The funded trader at Audacity Capital must go through six stages to reach the maximum funds of $480,000. The lot size also increases, with the capital starting at the last level from 0.5 to 16. 

At the initial levels, traders can only trade forex, but after the third stage, traders can also trade indices and commodities. This prop firm has no time restrictions or minimum trading days requirements.

Pros

  • Achievable he funded traders at Audacity Capital have to go through six stages to reach the maximum funds of $480, opp profit targets
  • Multiple educational resources
  • Zero commission
  • Easy payouts

Cons

  • No room for inexperienced traders
  • One trading platform MT4

10. Traders4Traders: An Educational Platform with Funded Trading Opportunities

Traders4Traders is not just a proprietary trading platform that provides funds to skilled traders; it is also an educational platform that guides and trains individuals to become successful traders. Numerous online courses are offered to forex traders who become affiliated with the T4T platform, and they have the opportunity to do funded trading up to $1,000,000 and earn massive profits.

To start trading with a fully funded account, Professional and newly trained traders must go through a practical assessment demo account. The trading rules of this demo account require traders to maintain a 5% daily drawdown and achieve the 10% profit target. A plus for the trader is that there are no time constraints, and they can achieve this target as fast or slow as they want.

Strict Trading Rules

Apart from the trading conditions in the evaluation phase, there are other rules at the traders' capital prop firm. Traders should have a stop loss for every trade that they open at the market.

Trades without a set stop loss will be closed automatically from the server, and the account will be locked after the due notice. There are also rules regarding trading hours, as no trades can be conducted on weekends.

Flexible Options

T4T is ideal for both new traders and experienced traders and investors. Amateur traders can first learn trading through the T4T trading education platform and then start low by opting for the initial level trading amount. 

On the other hand, professionals are not required to go through the whole process and can simply subscribe to a more extensive trading account.

Pros

  • Trading Education Platform
  • Fast Scaling plan
  • Unlimited Trading Time
  • One Time Subscription Fee

Cons

  • Multiple-level evaluation process 
  • Low Leverage

11. Trade the Pool: A Newcomer to Prop Trading

Offering access to over 12,000 stocks and ETFs, Trade the Pool, launched in 2022, is a newcomer to prop trading. An offshoot of 5ers, Trade the Pool has four funded trading programs starting at $20,000 up to $260,000 with an unlimited scale-up plan.

Single-phase evaluation ensures that traders can quickly get to work. Trade the Pool is an excellent option for beginners mainly versed in stock trading and one of the top stock prop firms. Active traders keep 80% of their profits. Funded accounts start at $20,000 and up to $260,000. Traders can test the system using the 14-day free trial.

Pros

Generous profit splits: Offers some of the highest profit shares in the industry, including up to 100% for top traders.

  • Salary offers: Provides salary options for exceptional traders.
  • Quick access: Traders can start trading immediately after passing the evaluation.
  • MT5 access: Provides access to the popular MT5 trading platform.

Cons

  • Strict performance requirements: Traders must consistently meet specific profit targets, such as a minimum monthly profit or a particular profit factor, to maintain funding. Please meet these requirements to avoid account closure.
  • Limited trading flexibility: Trade The Pool may restrict certain trading strategies or instruments, limiting the trader's ability to implement their desired approach.
  • Lack of transparency: The specific terms and conditions of the funding program may not be fully transparent, and traders may face unexpected changes or restrictions.

12. Funded Trading Plus: A New Prop Trading Firm with Easy Trading Rules

Funded Trading Plus has recently founded a prop trading platform that grants funded accounts starting from $12,500 with a scaling plan up to $2,500,000. The funded trading plus account is also popular among traders worldwide for its easy trading rule, 90% profit splits, and affordable subscription fees. Funded Trader Plus also offers maximum crypto pairs for trading other than:

  • Forex
  • Indices
  • Commodities

Another facility that Funded Trader Plus provides is that the traders have the liberty to choose from a step evaluation program, a two-step evaluation program, or immediate funded accounts. The evaluation phases have easy trading rules, a 10% profit target, a 3% daily drawdown, and 6% total drawdown, and there is no time limit for reaching the goal.

Affordable Subscriptions

The subscription fee for the one- and two-step evaluation accounts starts at $199 and reaches $999, which is also refundable. For the instant funding program, the one-time non-refundable fee at level 1 is $225 and goes up to $4500. 

In addition, there are no restrictions on copy trading or using EAs. Traders can hold trades overnight and also trade over weekends.

Advantages

  • No trading restrictions on overnight or weekend holdings
  • No time limitation
  • Direct Funded Programs
  • 90% profit split

Disadvantages

  • Drawdown limitations
  • Low leverage of 1:30

13. FTUK: A New Firm with Substantial Funding Options

Forex Trader UK is a platform that provides funded trader accounts to capable traders and investors in the financial markets. FTUK is not a very popular name among the prop firms as it was founded in 2021. Even within a very short time, FTUK has been able to fund traders in many countries worldwide.

FTK claims to provide funded stock trading accounts of up to $5,760,000 to competent traders who can earn profits for themselves and the firm. FTUK has a one-step evaluation process where risk management rules are applied to assess capable traders. Instant-funded accounts are also available for those who don’t want to undergo the evaluation process.

Multi-Level Scaling

With multiple levels to reach the $5,760,000 funded account, traders can immediately follow all the trading rules. FTUK has a fast-paced scaling plan. In this plan, traders must reach their profit target to scale up their accounts. 

FTUK offers its customers a variety of trading instruments, making it a reliable portfolio manager partner for traders worldwide.

Pros

  • Immediate Funding Program 
  • One Step Evaluation
  • Fast Scaling Plan
  • Multiple Trading Instruments

Cons

  • 50% Profit Split at first level
  • No hedging allowed

How Hard Is It To Become A Funded Trader

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Becoming a funded trader is an excellent goal for most traders with low capital. The idea of trading upwards of £100,000 in trading capital and making thousands of pounds monthly sounds great, right? However, achieving this goal can take a long time, even with the fast-paced nature of prop firm trading. 

Becoming a prop firm-funded trader typically takes 4-5 months if you’re a consistently profitable trader. Some traders can achieve this much faster by using increased risk. The likelihood of failing in the trading challenges would increase. Becoming a prop firm trader is a much faster way to pull more enormous profits out of the markets than if you were just to trade your funds.

Prop Firm Challenge

Most traders come into the markets with just a few thousand dollars, which isn’t enough capital to make considerable profits or trade for a living. Prop firm funding can be incredibly appealing. Most prop firms make traders undergo a trading challenge to prove their market profitability and weed out unprofitable traders. 

Although these could be passed in just a few days, they rarely are – and nor should they be! Often, traders who obtain their funded accounts very fast are those who lose them very fast, too. As it is with trading personal funds, longevity is the name of the game in forex.

Easy-to-Use Program

If you're looking for an easy-to-use funded trading program, AquaFunded is a Dubai-based prop firm with some of the most competitive features for traders.

Get started with AquaFunded's funded trading program today!

5 Practical Tips To Be A Successful Funded Trader

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1. Use AquaFunded for Success

AquaFunded, a Dubai-based funded trading program, offers traders access to significant capital 

accounts with up to 95% profit splits. With easy-to-achieve 8% profit targets, fast bi-weekly payouts, and an option for the first payout in just seven days, AquaFunded aims to provide a trustworthy platform for traders to scale their profits. 

The firm’s unique funding model caters to all experience levels, from beginners to those with a few years of experience who want to trade with reduced risk using the firm's capital instead of their own. To become a successful funded trader, you should check out AquaFunded’s funded trading program.

2. Understand the Guidelines

Before you start trading with a funded account, you need to know the rules of your specific program. Each one has its own set of guidelines regarding:

  • Trading methods
  • Risk levels
  • Profit goals

Follow the Rules

Why is this important? If you don’t follow the rules, you could lose your funding. Here’s what you should do: 

  • Read the handbook
  • Go through all the rules of the program
  • Ask questions
  • If you’re unsure about anything, reach out to the support team
  • Stay updated
  • Keep track of any changes to the rules
  • You set a strong foundation for success by understanding and following the guidelines. 

Pro Tip: “The support team is there for a reason. Use them as a resource to fully understand what’s expected,” says Mark Thompson, a seasoned trading mentor.

3. Create a Solid Trading Plan

A good trading plan is like a roadmap to success. It helps you stay focused and disciplined. Here’s what your plan should include: 

  • Trading goals: What do you want to achieve? Are you aiming for a specific profit or improving your skills?
  • Risk management: Decide how much of your capital you will lose on each trade. Generally, risk only 1–2% of your total capital per trade. 
  • Trading strategy: Define how you will enter and exit trades.

You might trade when the 50-day moving average exceeds the 200-day moving average. 

Pro Tip: “Never risk more than you’re comfortable losing. For most traders, this means sticking to the 1-2% rule,” recommends veteran trader Daniel White.

4. Manage Your Risk

Managing risk is crucial. A few bad trades can wipe out your account without good risk management. Here’s how to manage risk effectively: 

  • Stop-loss orders: automatically close your trade if the market moves against you.
  • Diversify your trades: Don’t put all your money into one trade. Spread your investments. 
  • Set risk limits: Decide how much you will lose in a day, week, or month. 

Pro Tip: “If you hit your loss limit, walk away. Don’t try to ‘win it back’ that day,” warns Tom Wilson, an experienced trader.

5. Keep Learning and Improving

The financial markets are constantly changing. To stay successful, you need to keep learning. Here’s how:

  • Read to learn: Read books and articles about trading strategies, risk management, and market psychology.
  • Take online courses: Join webinars or courses that offer in-depth trading insights. 
  • Follow market news: Stay updated with the latest financial news and trends. 
  • Keep a trading journal: Record all your trades, noting why you made each trade and the outcome. Review it regularly to spot patterns and areas for improvement. 

Pro Tip: “Your trading journal is your best teacher. Analyze it critically and learn from both your successes and mistakes,” advises Olivia Davis, a trading coach.

Related Reading

Join Our Funded Trading Program Today - Trade with our Capital and Keep 90% of the Profit

AquaFunded is a Dubai-based trading company that helps traders succeed by giving them access to significant capital accounts. With AquaFunded, traders can earn up to 95 percent profit splits and enjoy a unique funding model with easy-to-achieve profit targets. For instance, AquaFunded requires traders to hit an 8 percent profit target to receive their first payout, which can be as soon as seven days. AquaFunded has bi-weekly payout structures to ensure funded traders get paid regularly. AquaFunded caters to traders of all experience levels and aims to provide a reputable and trustworthy platform for traders to scale their profits.

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September 12, 2024
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