The growing popularity of Prop firms in trading have instilled a new hope among traders with limited finance who otherwise cannot leverage their trading skills because success in trading is also about more funds in addition to the traders’ skills and expertise. Prop firms conduct evaluation of traders’ skills and expertise to check eligibility and fund successful traders with amount ranging from thousands to millions of dollars. Prop firms charges an evaluation fee and puts traders on demo account to let traders trade and prove their skills for the said funding. However, most traders fail to clear the evaluation test and end up losing the non-refundable evaluation fee. Only 10 out the 100 accounts make it to the end and the rest ends up only paying the evaluation fee to the firm.
Why most traders fail
The question arises as to why so much of traders fail in the very first stage. Is it only because many traders do not possess the skills and temperament for availing these huge funds as promised by prop firms. Of course, firms have the right to let traders pass through tough test because they cannot trust a naïve with millions of dollars. But there is much more to it than traders’ lack of skills and expertise. Majority of prop firms design their revenue generation model around traders’ failure and that is where the problem lies. Firms design their evaluation terms and conditions in a way that ensures traders fail the test and firms get to keep the non-refundable evaluation fee. One of the most cleverly designed failure model is to exploit the traders by either putting up limits on maximum and minimum trading day or doing away with them completely with no limit. In this article, we will show how they act as major hurdles for trader and how Funded Nation removes this major hurdles by adopting a balanced approach to ensure traders success.
Our No Maximum Trading Day Limit allows you freedom and removes hurdles impacting your success
We have designed our business model to facilitate traders long term association with us for mutual benefit because we see and associate our success with our trader’s success. Most of the trading firm have designed their model around maximum trading day limit which sees traders failing to clear evaluation criteria. Ironically, prop firms with maximum trading day limit also present their firm as the one allowing traders the freedom to exercise and execute trading skills which obviously is quite contrary to the concepts of freedom and flexibility.
How Maximum Trading day limit acts as traders’ hurdle
Maximum trading day limit compels many traders to trade even on days when market conditions are not favourable for the trade they want to place thereby limiting their chances of success. Mostly, a trader gets 30 days as MTD to prove their skills of which they can trade for a maximum of 20 days limiting them further. To make matters worse, traders come across days of news trading which are notorious for extreme market fluctuations. Even the best of traders urge caution on news days to avoid uncertainties surrounding market which if let pass without trading brings down available trading days even further down for traders.
Funded nation’s no maximum trading day limit helps overcome traders’ hurdle
Funded nation acknowledges that with MxTD limit traders have to go for a risky trading on news days or on other days even when they cannot place favourable bid in line with their trading strategy and risk management practice. The limit placed on traders compels them to clear the evaluation within the MTD limit which more often results in failure. To accommodate our traders and remove their hurdles, we have done away with Maximum Trading Day Limit so as to allow our traders the freedom and flexibility to work at own pace and execute their trading skills and strategy at will. No restrictions on trading style, freedom and flexibility are not merely a catchy slogans and phrases at Funded Nation. We practice what we preach and our no MTD goes a long way to remove traders hurdle and get funded with us.
Our minimum trading day limit is a further boon to traders
We have minimum trading day limit policy to help our traders clear the evaluation criteria in their pursuit of becoming a funded member. Our minimum trading day limit helps enforce traders discipline and assures that traders adhere to the trade discipline in terms of practicing risk management as a crucial aspect of trading.
Sounds weird! Isn’t it? In the last section, there is so much talk about our ‘no trading style restrictions’ that guarantees freedom and trader flexibility and now, the U turn in justifying limit. Well, if you look at it closely, you will be figure out that our No MxTD limit serves the same purpose as our 5 days MTD limit and that is enforcing trader discipline in line with the fundamental trading principles.
Minimum trading day limit leads to more success
This restriction to remove trader hurdle at funded nation is more to do with time tested and established method of risk management practice in trading. We allow for freedom and flexibility in our platform but remain committed to some established trading principles because we are here for long term association with traders. Data shows that with minimum day trading limit, traders often do much better than not having the limit. Traders often blast their account in quest of clearing the evaluation quickly. We, the team behind Funded Nation are in the business of forex trading for years and our own observation very much validates the data. So, we keep minimum day limit only as a facilitator to help you clear the test and get funded with us.
How other companies exploit you either ways with limit or no limit
Most of the companies in the prop firm either imposes minimum and maximum trading day limit together or do away with them altogether projecting themselves as trader friendly. Both of them are cleverly designed model to ensure trader failure and mere attempts at revenue collection rather than any intent to fund. The model exploits the existence of common trader psychology of fear and greed which traders often find difficult to contain in trading. Studies clearly shows that ‘fear and greed’ acts as major trading hurdle in traders’ path to success. Prop firms know this very well that fear with maximum trading day limit will fail you and greed with no minimum trading day limit will fail you. It is in their interest to fail you because that is what their model is and it is to fail you and keep your fees.
Funded Nation discount codes and coupons for retries is a shot in the arm for traders.
We are not here only for generating revenues from evaluation fees of our trader as our source of earning. Our executive team consists of experienced traders and they are making quite a good amount to keep our company running and alive. We are looking for more skilled traders to realise our vision of a platform where the best of traders from around the world assemble in a place for a common goal and grow together. It is in our best interest to include, accommodate and fund skilled traders. To do that, we have included retries in the form of coupon codes for disciplined traders who may have failed due to reasons that were out of traders’ control. We understand that even a disciplined and skilled trader fall victim to the extreme market fluctuations and ends up failing to clear the evaluation test. You can raise a ticket with our chat support team if you feel that market situations led to your failure. Our platform has a system in place to collect and analyse traders’ data to check and verify any such claim. This is all because we see you as our future partner in growth and not as a source of one time earning.
Lastly, our chat support will assist you in every way possible to clear your first major hurdle of evaluation. Our live chat support acts as the connecting bridge between traders’ ambition and its realisation by providing unmatched assistance and support to traders. They are a team of well trained professionals whose primary task is to clear your doubts related to all aspects of our evaluation criteria to help you become our funded trader. Funded nation intends to keep no hidden rules behind and promise to abide by what we say. The primary objective is to include skilled traders to work with our platform and capitalize our investors idle money to make profit for them and for us as well. We acknowledge, appreciate and embrace the concept of symbiotic relationship between traders and us for long term growth and sustenance.