*How to gain access to trading capital to help you trade the financial markets full time*
One of the biggest dreams of any new retail trader is to quit their 9-5 job and trade the financial markets full time as their profession. One of the biggest obstacles to overcome on the way to achieving that dream is access to significant trading capital.
“You must spend money to make money” – Plautus
Okay, so lets assume you now have successful trading strategies, your technical analysis is good, your risk management system works and you are able to keep your psychology together long enough to make some profits. What is holding you back from becoming a full time trader? The £2000, £5k or even £10k of trading capital in your brokerage account?
You could be making returns of 10% per month, every month but a £10,000 trading account will not yield the profits you need to live and survive. The average cost of living in the UK is £15,000 per year.
There are 2 options available to you.
- You could increase your exposure on trades or try and increase your reward:risk ratios by increasing the aggressiveness of your trading to increase your trading returns. A 20% per month return, every month, would yield the income you need to live in the UK but this is highly unsustainable and even then, you are just affording to live… not thrive!
- You could increase your trading capital. If you were to have a £50,000 trading account you would only need to return 3.33% per month to make the income required to live in the UK. Not only is this significantly more realistic but it is sustainable and allows greater opportunity for capital growth.
Imagine if you could have access to a £70,000 trading account. Returning 3.33% per month (uncompounded) would generate income greater than the UK national average wage.
Let me, once again, introduce to a company called FTMO.
FTMO has created a highly successful trader funding programme that offers good, consistent traders up to $100,000 in trading capital with a 70/30 profit share going to the trader and no trader exposure to losses.
Therefore you are essentially trading an account that would be the equivalent to you having $70,000 of your own capital and receiving all of the profits.
How does it work?
Firstly, you must prove to FTMO that you are a good and consistent trader by trading a demo account of the same capital value and make profits for 3 months. There are also some objectives you must achieve during this time which are listed below.
Step 1 – Challenge
You must trade for 30 days, achieve a minimum of 10% return on capital whilst maintaining no more than 5% drawdown in any single trading day with a total maximum drawdown of 10%.
If you manage this then you can move on to the next stage of funding.
Step 2 – Verification.
You must trade for 60 days, achieve a minimum of 5% return on capital whilst maintaining the same 5% and 10% drawdown limits as the challenge phase.
Important: You must pay an upfront fee to access the trading challenge and verification stages but when you successfully pass these stages and receive a fully funded trading account, FTMO will refund you the fee you paid to do it.
So for as little as 540 euros you could have the chance to gain access to a $100,000 trading account and exponentially increase the progression of your career as a financial markets trader.
Even better, when you are successful, FTMO will refund the initial fee you paid so you technically received the trading capital completely free of charge!
Click on the button below to go to the FTMO website for more details on the trading challenge, account funding and to read the reviews of traders who have received funding and are now living your dream.
FTMO Trader Funding Programme.
All my technical analysis is done using the TradingView platform. You can get access via the link below.
My preferred broker of choice is IC Markets. Low spreads and trading costs really help long term profitability. A link to their site is below.
Thanks for reading and please don’t forget to LIKE, SHARE and FOLLOW my blog to stay up to date with the latest market analysis and trading education posts.
DISCLAIMER: None of the information posted on this site is to be considered investment/financial advice. Trading is high risk and you should only trade with money you can afford to lose.