Have you ever come across a video game where managing of resources, city building, or trading was the only way to progress to the next level? If so, then you might have an idea of what the world of trading is like, just with the difference that you get to have real money instead of virtual gold coins. It could be that this activity sounds only for a bunch of people dressed in corporate costumes and busy with serious stuff, yet it is really a very straightforward concept. But there is one huge barrier for most new players in this game: they possess the skills to play, yet they cannot afford to buy their way into the big leagues. The answer to this dilemma is a firm named FundingPips. They are like a magic sponsor or an instant funding prop firm; the latter is merely a euphemism for the former. In other words, they search for talented individuals and provide them with the right environment and account size for thriving at the very beginning.
The “Rich Uncle” Analogy
Just imagine that you are the fastest race car driver in your entire school. You know the route by heart, you can make the most difficult turns, and even the timing of your accelerations is perfect. But then, there is one catch. You are not the owner of a racing car. Racing cars come with a hefty price tag, and they are very pricey! The talent is there but not the tools to execute it.
FundingPips resembles a rich uncle or a race team owner in this case. They see you and say, "Wow, I can tell you are an excellent driver. I'm going to let you drive my super-fast car. If the race is won by you, then we will share the prize money of course. You get to keep the major part, while I only take a small part for renting the car to you." This is what we refer to as “Proprietary Trading.” You supply the intelligence, and they supply the cash.
Passing the Test: The Tryouts
Cars that can race at high speeds are not given to just anyone. That would certainly spell trouble! The car might very well end up smashed against a wall. The 'tryout' phase is the prerequisite to get the major account. In the gaming world, we would say that it is the tutorial level or a qualification round.
This process at FundingPips is termed the Evaluation. They provide you with a demo account and lay down a few rules. The rules are generally of this kind:
Acquire a specified amount of profit (high score).
Permit the loss of a specific amount only on a single day (don't crash the car).
Be consistent (don't just win once by luck).
If you clear these levels, you are awarded the title of "Master" trader. It implies that a funded account is given to you and you can no longer receive a payout until your performance has earned you one.
Why Discipline is Your Superpower
Many kids (and even some adults) consider trading to be the same as gambling in a casino. They think that it is all about guessing whether the line on a chart will go up or down. But actually, the process of trading is similar to a game of chess. You have to be able to predict the opponent's move three steps ahead.
It is the characteristic of being very patient that turns the traders into winners. They will be watching and waiting for the right moment to act, just like a cat stalking a mouse. If you let your excitement push you into trading the wrong way and too much, then you might lose most of your money. Calm and disciplined traders are not preferred by FundingPips but are rather considered the ones who will last the longest in the game.
Fast Rewards For Good Players
One more among the best aspects of this particularly company is that it considers that when a customer wins, he/she wants the prize right away. Just think if you win a school tournament but have to wait for six months to get your trophy. Wouldn't it be so dull? The reputation of FundingPips, as the fastest company regarding payouts, is quite common. They have a system of making sure that as soon as you get your winning, it will be your turn to receive without a long and hard wait.
The Ultimate Tool for the Job
What about the trades, how do you do it actually? Do you call someone on the phone as in the old fashion films? Not a chance! You get special computer software that looks like a spaceship cockpit. It is full of charts, graphs, buttons, and numbers updated simultaneously with the market.
An immediate connection to the global market is what you must have in your software. Speed, clarity, and power to cover all your techniques are the attributes that a program should have. Among the few that meet this criteria, the one that is almost universally used by professionals for market analysis is MetaTrader 5, the industry standard. It is practically the ultimate controller for your trading game as it lets you execute your moves with both accuracy and speed.