It’s a bold claim, we know. But it’s absolutely doable and it’s been proven time and time again by us and 100s of our students here at Phantom Trading.
It’s a commonly held belief that you need to have a lot of money to make money. In some instances, this can be true, but modern-day tech and the internet age give us access to funding and income-generating opportunities that generations prior never had and could only dream of.
In the trading space particularly, most people assume that you need to have a large nest egg of savings in the bank to then move over into a brokerage account to trade to make any real money in the markets. For the longest time, this has been true! Sure, there are the odd instances where someone flips a $100 account into $1,000,000 by some fluke trade that shot off for them, however, in more scenarios than not, those who try to scale a small account from $100 upward will be in for a long journey to making any real returns on their account. It’s been the case that most successful traders to date were largely self-funded or worked for a big company and traded on their behalf.
Things are different now. This is no longer the (only) path to generating big returns as a trader. In this article, we’ll be covering how to go about reaching 6 figures in capital and beyond as a trader of the markets and how it’s doable faster than you may think.
Mainstream Prop Firm Funding Opportunities
Times have changed! Until recently, traders had to have the capital to make real money in the markets. Either they had to self-start by working a job, running a business, or if they were lucky, receiving an inheritance, etc or they had to seek out funding through a high-net-worth individual looking to invest and receive returns via an investment partnership. It was a lot of work getting up to the 6-figure level. For this reason, fewer people got involved in trading because they assumed it was only for the wealthy or for those who had connections.
This is no longer the case. As of late, professional and trustworthy prop firm companies have been popping up left and right across search platforms and social media. Type “prop firm funding” into google and you’ll be inundated with dozens of reliable companies who are hungry to partner with you and place you with capital so long as you can prove yourself in your ability to generate consistent returns in the markets month over month.
Here at Phantom Trading, we suggest our students start with some of the more popular and most used companies such as FTMO, MyForexFunds, and E8 Funding. Each of these prop firms can provide you anywhere from 5-6 figures in capital to start, all with scaling plans that allow you to grow well into the 7 figures in capital so long as you can consistently generate returns month over month and effectively trade within their rules and guidelines.
This recent explosion of prop firms providing capital has made trading the various markets (stocks, forex, crypto, etc) more popular than ever. People are beginning to see that trading full-time doesn’t have to be a “later-in-life goal”. They can get started today and start seeing results and acquire capital within a 12-month window (assuming they follow a plan and put in the work). Every single day more and more traders are becoming consistently profitable and are passing prop firm challenges and then going on to verification stages and getting access to their fully funded account(s).
Doing The Math & Running The Numbers
The power of this if you haven’t realized already is noteworthy. For instance, generating 10% monthly returns on a newly funded 100k account from a prop firm like FTMO works out to $10,000/month in income (minus their small % partner fee of course). We feel it’s safe to assume that most who are getting into trading are working 9-5 jobs or are in school attempting to figure out what they’d like to do for a career. In either case, most jobs aren’t providing $10,000/month from the comfort of your own home working just a few hours per day.
We want to note that 10% per month in returns is an achievable target. We’ve had 100s if not 1000s of students at this point reach this rate of returns… some of whom have gone on to do much better months than that.
These figures are interchangeable. Most students will not stop at $100k in funding. They’ll either go on to scale that account to $200k, $300k, $400k, and so on OR they will tack on additional accounts and trade them together in sync using a trade copier program. It’s not unheard of for prop firm traders to go on to 7 figures in total funding. All the while on the way up, they are honing and refining their skill set to generate even better returns than 10% per month. You can see how this gets quite wild fast!
The point of all of this is that we want you to see just how achievable this is. If you’re new to trading or you’ve been at it for a while but you’ve been struggling to gain traction… all you need to know is that it’s doable for you the same as it has been for those who’ve seen success. You simply need to find a forex mentor/program that can help you refine your trading skill to a level where you can confidently apply for and pass prop firm funding challenges and not only acquire but keep AND scale the capital you acquire.
It’s what we help our members do day in, and day out here at Phantom. Having now worked with over 10,000 students, we can confidently say that this space is only just beginning to grow. If you’re considering getting involved, this is still the very early stages of the game. There will be plenty more tools, strategies, and refinements in the trading space that will only continue to support traders in the financial markets in their pursuits of generating wealth.
Where Does One Start?
A trading mentor is someone who knows the way, goes the way, and shows the way. If you’ve yet to hear this quote, be sure to take it to heart and commit it to memory! The only true shortcut to success in any given field is to find someone who’s walked the path before you and who can show you the way and help you avoid any and all major pitfalls along the way.
If you’re just getting your feet wet with trading, this is where we’d suggest you start. Before you go seeking out capital at any of these prop firms and applying for funding, you need to sharpen your sword (your trading skill). Without the ability to generate consistent returns month over month, you simply won’t be able to generate a return on the capital you acquire. Sure you may be able to pass a challenge or two by some chance, but it’s likely that you’ll struggle to keep and scale the funds when you do actually get your hands on them.
Having a mentor and being around other traders who are trading the same strategy, analyzing the same setups, and entering similar positions, is where you need to be. The fastest way to get where you’re trying to go is to routinely put yourself around those who are already playing the game.
Therefore our first suggestion would be to get involved with a proven trading program/community. Whether you join us here at Phantom Trading or not, we just want you in with a solid and proven community with a track record of results behind them. We’ve made the mistake ourselves of trying to learn how to trade on our own and we can confidently say that results started to show as we got in with proven communities. We wouldn’t be where we are today without them and Phantom wouldn’t be what it is without their collective guidance. Phantom today is an amalgamation of everything we’ve learned along our trading journeys collectively and it’s our sole aim here to help our students save time, money, and wasted energy in the learning process.
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FX Trader & Analyst
Writer & Editor
Rob is a funded trader from Toronto, Canada, and has been trading currencies, commodities, stocks, and cryptocurrencies for over 7 years. Outside of trading, he enjoys making music, boxing, and riding motorcycles.