Tag: Topstep

Do you want the Winning Formula on How to Start, Pass and Run a Successful $400,000 – $800,000 Prop Trading business from your laptop/pc?

Below I’ll be showing you everything you need from the Software, Prop Firm and Trade Copier to use to get your Successful 6 Figure Prop Firm Business up and running

Here’s my EXACT Prop firm Business Model Blueprint which you can copy for FREE where you can model my cheap or expensive route to riches depending on your budget and goals!

Always wanted to trade and get paid at the same time using ultra low risk and HUGE Upside profit potential?

Well with the rise of new Prop Firms coming out with bigger and better challenges, times have never been so exciting to get a new 6 figure business up and running in less then 24 hours!

Thanks to the relaxed rules, easy simulated trading environments Prop Firm Challenges are fast becoming the most easiest way to trade with BIG profit potential.

Everyday people like you and I are applying and taking on their challenges almost on a weekly and monthly basis to secure a 2nd and 3rd stream of income!

Step #1: Best Prop Firm and Trade Copier

If you’re just starting out in trading or attempting your first prop challenge then get a 10K or 5K Challenge from TFT.

Why?

This massively helps with the psychological element of watching numbers on your screen and the Risk Management process which only enables you to risk a total of 5-8% (depending on which firm you choose).

Pro Tip: When trading, risk no more than 0.2% per a trade this give you extra bullets to play with so you can take more trades and also try to aim for 5x more than you risked i.e 0.2% to make 1% back per a trade.

But… if you’re thinking of diving in straight for a 100K or 200K Challenge then at least use a trade copier which in-essence copies trades from a Real account of $500-$1000 to your prop firm account(s).

Why?

Again, from a mental standpoint. If you’re not used to watching thousands of dollars of pounds, go up and down into positive and negative until the trade has finished then get yourself a Trade Copier and connect your accounts together! It’ll listen the effect on your brain.

To structure my business accounts I use Traders Connect who are the best in the business no latency or no silly account disconnections and best of all you Pay per an account vs other copiers which only let you buy block accounts of 2, 5 and 10 etc and would constantly disconnect my trading accounts or reset and disconnect servers over the weekend.

Which is also dangerous because you could be trading with big lots, the trades executes and doesn’t close out as you need to log in again to the server to sort the issue out and close a trade manually or if you’re trading with two or four accounts at once and two of them randomly disconnect from the copier you effectively made a breakeven trade due to a malfunction from the server side which is no fault of your own.

I wont go into details of who the company is but Id never use their Cloud Trade Copying Service again.

This is how your accounts will look when setup correctly with Traders Connect!

For Live account and broker recommendation check this page out so you can compare to see what the best fit is for you: Recommended Broker List

Costs Required:

Real Live Trading Account Deposit = $1000

Free = Open a Demo Account Here

Prop Firm Accounts Cost = $100 – $2000 (Depending on the account size you’re going for)

Use Discount Code: TFTTrader9858529 at The Funded Trader Checkout

Trade Copier = $20 – $30 per month

Free = FX Blue Local Trade Copier (Both MT4 Platforms must be running on the same PC)

Step #2: Software and Trading Strategies I Use

If you’re working full time or part time trading I’m not going to fluff it, but will be tricky to balance trading unless you are using systems there’s no way around it!

Whatever you do, don’t give your account/challenge to a Money Manager or a glorified Account Manager who will ultimately fail your Challenge and blow all accounts. But use SOFTWARE! I’ve heard so many horror stories where clients have been left penniless as a result.

Trading has taken me well over 11 years to master, I have coded my wealth of trading knowledge into Automated Software and easy to use trading strategies that take no more than 10 Minutes a day to trade.

Check out my Robust Fully Automated System or Join a Strategy Based Trading Community that helps you through all the steps from starting out to having you managing your trading portfolios with time tested strategies and strict risk management systems. Both Options work extremely well if you’re new or a veteran trader.

Fast Feed Data that I use is PRT (Pro Real Time) and Level 2/3 Data which puts my trading light years ahead of any other MT4 Scalper you can check those guys out here

News and Fundamental data are essential for any trader because ultimately fundamental data  driven moves can either make you or lose you a lot of money if you’re not well informed.

The free services I use are MyFxBook and FX Street Calendar which are both equally good but I prefer the FX Street Calendar out of the two and I have them uploaded as apps on my mobile phone.

Now if you want the best of the best then you need to get Newsquawk a Premium Data service for any professional giving you fundamental data before everyone else.

Costs Required:

AF Software = From Free to $1700

Free = Refer and Earn Scheme: Get Two Clients onboard and get your AFSD Software for free.

Pro Real Time Software = From Free to £100 per month

Free = Sign up at IG Broker open an account with £250 and you can get PRT for free if you trade the minimum trading volume required to keep it for free per a month!

MyFxBook Calendar or FX Street Calendar = Free

VPS For a Robot = $20 per month

Free = Amazon AWS Free Tier Can be quite difficult to set up if you’re new

Step #3: Hardware That I Use

This solely depends on the trading system that you are using! I found having a simple Windows based laptop 15/17 inch laptop works ok with an External Monitor of 27 inches which can be connected via the HDMI port.

But… if you’re like me and want to go all out! Then here’s my trading setup 2x Samsung 27 Inch Curved Monitors which sandwiches a 1x Samsung CHG90 49 Inch Curved Monitor which provides me with over 90 inches of screen and being a 1 minute scalp trader.

I need this as I watch multiple charts at the same time with this Strategy that allows me to trade only 10 Minutes a day!

Why?

The more information you have access to at the same time, the better your results are going to be! As you’ll soon realise that you’re not in the game of trading but in the game of Split decision making everything will magically shift into place.

Pro Tip: The quicker and better you get at making decision making in general this will dramatically enhance your trading results. A book I recommend checking out is Trading In The Zone that will dramatically increase your trading results after the first read.

My PC Build for the trading we do is relatively cheap at £900 which and not required as you can get by on any 8/16GB Ram Windows laptop or PC. But if you want to know more, it has a Graphics Card that has inputs for 4x HDMI Monitors, 4X USB B Ports for all my devices. A Wired Bloomberg Terminal Keyboard and Logitech MX Master 2S Mouse Wireless TP Link WIFI Dongle and a Elgato Stream Deck XL that works seamlessly with Pro Real Time Trade Executions and Risk Management.

Costs Required:

PC Build from Scan = £900

Free = Use Your Own or Borrow Your Sisters

My PC Monitors = £1100

Free = Refurb 20” TFT Monitors aren’t exactly free but get two of these bad boys from ebay hooked up to a 2x Monitor stand you have a 40 inch screen for less than $60.00.

Step #4: Banking and Tax

Now I’m not a Financial Tax Advisor or an Accountant but tax implications could play a huge part here as essentially you are Spread Betting when trading with a Prop Firm but….

You always trade on a demo server and the prop firm pays you directly from their company accounts which will then be classed as Self Employment.

Every country has their own rules, regulations and taxes when it comes to self-employment.

I highly recommend setting up a separate Wise Bank Account for your Profit Withdrawals so its not confused with your main income source.

But contact a Forex Tax Accountant immediately for your jurisdiction prior to starting any Prop Challenge.

Step #5: Join a Trading Community with a Time-Tested Trading Strategy

This step is crucial and going to dictate whether you make it of fail within trading. As the good saying goes “A Wolf is Stronger in a Pack then it is by itself”.

Anyone starting out or has a terrible experience trading in general. Trading is an art which shouldn’t be done on your lonesome trying figure it out. After all trading is about making money.

A common goal shared by all my traders who are also trading with a prop firm and real accounts.

I personally recommend a small community where its tight knit and you get all the trading support that you need from start to finish and employs a quick and easy Strategy but follows a strict risk management system.

If you haven’t already checked it look at my AF Blitz Trading System

Conclusion

Starting a Prop Firm Trading Business with semi/ automated trading systems offers the best low risk high reward business you could build in 2024.

I’ve shown you the Easiest way to get a $400,000 to $800,000 business setup in less than 24 hours using Prop Firm Trading, Software and Hardware.

In short, both my trading systems provide a huge shortcut to Trading Profitably.

They come with access to myself and my Powerful Trading Communities dedicated for the growth and support of all our traders, Lifetime Software: Supply and Demand Trading Software and The Best Trading Strategy that virtually makes me money within 10 Minutes a day using a Secret Institutional Hack and all my members get Future Updates Free for Life!

Still struggling to pass your Prop Firm Challenge? Or if you have a question about getting Started?

Leave a Comment below and Let me Know.