Most of us were all in the same boat, wanting to learn how to make money online, on the Forex markets.
I still remember it as it was yesterday, even though it was about 6 years ago, a friend of mine told me about this ‘Forex thing’ where you could learn how to make 200€ out of 100€.
I started learning how to trade on a demo account, without proper risk management.
I saw the results and I got addicted to it.
Afterwards I started with a real account of 250€ and took it to 1.000€ and eventually even 2.500€ in about 2 months. When I saw people making (or maybe pretending, I wouldn’t know to be honest) 1, 2, 3, … thousand a day, I got greedy and wanted to get my account asap to 10k and above!
It took me 2 weeks to blow my 2.5k and I did repeat blowing my account multiple times.
… keep reading!
After a few years, I got introduced to FTMO, a prop firm that allows you to trade with bigger capital.
I decided to take a challenge of 80.000€ (which was the maximum at that moment) and I passed it. Not with the right risk management or anything but with being ‘lucky’.
After passing the second phase, with correct risk management, I got my live account and started trading on it. Why is it easier, for me personally, to trade on a bigger account?
Because you can really use proper risk management and still earn ‘good money’.
The definition of ‘good money’ is for everyone something else BUT I do think that having at least the minimum of an average wage of your company, is a nice thing to have.
No need to try to flip your account anymore to become a 6 figure trader!
There are a lot of different prop firms right now so you have to decide for yourself which ones fits you best.
At this moment, for me personally, MyForexFunds (MFF) is the one where I’m trading on at this moment, going for my third certificate of a 200k USD account.
Depending on how much money you want to have under management (*AUM: Assets Under Management), you can even combine multiple prop firms. How to trade a 7 figure account?
That’s also pretty easy these days…
MFF gives you the opportunity to trade up to 600k USD, while FTMO gives you the opportunity to trade up to 400k USD. With using a good copy software, you can just copy all your trades from 1 account to multiple different accounts so you only have to manage 1 single account.
I personally use Forex Copier 3.0 but if you do some research, you can find quite some different options for trade copiers.
