When I look through my inbox of messages from traders there is increasingly one recurring theme that traders are searching for support with; namely help passing their funded trader challenges.
It’s a sad statement that most private retail traders are under-capitalised for their own goals and expectations. This leads towards over-sizing positions or attempting to hit ‘home-runs’ on every trades. It leads to a real “Hero-or-Zero” mentality, which rarely ends well for the trader as they chase outsized returns.
The trading Industry has recognised this, hence the recent proliferation of Trader Funding companies, or Prop-Shops, over the last 4-6 years which look to fund a trader in return for a fee and passing a trading performance challenge.
These tests usually revolve around the trader generating a double-digit return in a month (or over several months) with the trader then being funded to a level dependent on their initial purchase. The funding increases as, and if, their performance continues.
To be fair, it’s a model that can really benefit some traders, if they are prepared for the challenge of a) delivering such returns and b) trading Other People’s Money (OPM).
However, far too many people ‘crash and burn’ because they are not prepared in any way for the challenge. Or they pass the challenge and then blow-up when trading other people’s funds at a size that they are not used to.
This is where the VTP Stage 5 will focus. It’s a 4-week group coaching initiative that will help support traders going through their funding challenges and help prepare those who are considering taking such a challenge.
It will consist of 2 weekly Coaching Calls throughout April 2024 providing education, insight and support on winning your challenges, and developing your trading business. As always, it’ll be based on the foundations of the 4M’s of Trading. (If you’re unable to attend then, the sessions will be recorded for access.)
You’ll also receive 1 x 45 minute 1-2-1 Coaching call as part of the group in order to tighten up your own trading approach.
By the end of the 8 sessions, you’ll have:
- An understanding of the Prop Shop/ Trader Funding landscape and Business Models
- Greater understanding of what’s required to both pass and maintain your funded account.
- Insight into whether your own trading method will help or hinder you in a funded account world.
- Greater knowledge of your own strengths and weaknesses as a trader and fund manager
- The creation of your own Personal Trading Plan to pass your challenge.
- Learning how to manage yourself in order to maintain good performance.
- Creation of your own Buddy-Buddy Trader Support Networks to help you in your journey.
If you are currently struggling with a challenge, or considering trying a challenge, or fancy an opportunity to be part of a trading group then this would be the Group Coaching Call for yourselves.
As always there’s a cost implication. For the 8 Group Coaching Calls and additional 1-2-1 Coaching call the cost will be £247. However as this is the first one, I am offering a discount of £147 to members of the VTP and Meetup Trader Groups. The cost will therefore be £97 for the course.
The group will only be for a few people and it will be based on a first-come first-served basis. If you want to talk to us about it then contact me paul@FXTraderPaul.com to register your interest.
March 12, 2024
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