Are You Funded Yet? A Prop Trader Shares Everything You Need To Know

Are You Funded Yet? A Prop Trader Shares Everything You Need To Know

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In this video what we've done is we brought  in a prop trader from www.urbanforex.com   to talk about what it means to be funded, and  is funding even worth it? Let's have a look. All   right so welcome everyone to this special webinar  where we're actually doing an interview with   a funded prop trader his name is Olly, he's been  funded by Urban Forex or Urban Forex prop firm and   yeah Olly if you can briefly introduce yourself.  Hi everyone i hope you're all well safe my name is   Olly i'm based in London UK and just like Armand  said I'm a trader in the Urban Forex prof firm   and i've been here for about two months. Okay and  how long have you been in forex? My journey into   forex or my journey to training has been going on  for about four years I became quite inquisitive   and I was doing research on the web and stuff i  came across some from some youtube websites and   some youtube videos of Navin and from that that  quickly escalated into doing the MPA and then   the 4CB which is now the Iconic Trader Program  and then I joined the Elite Community and then   snowballing from there and then i attended the  agm in Koh Samui which was a blast i got to meet   a lot of my friends from the community but  at the same time i got to meet you guys   and that just carried on giving me the itch  to to want to do more. Oh that's great yeah i  

remember you being at at the event in Samui and  for the people that don't know before the Covid   struck the world we used to do a yearly or annual  seminar in in Koh Samui in Thailand but then Covid   happened so we haven't done it since but we hope  to do it in the future again but yeah Olly was   really cool to see you there and yeah to already  see the fire in you and then the the ambition   and the hunger to to to make it as a trader so  did you always want to be a trader? Was this   always something that was in your mind? No not  really i came from like a traditional educational   background you know i was always expected to go  to university to get degrees i ended up working   in the medical profession working in digital  advertising in the pharmaceutical fields but   as i got older and matured i definitely became  fascinated and understood that there's probably   a better way to have a different lifestyle  and that's probably when i started to explore   what trading could offer me and you know that all  sense of freedom that training could give and to   know there was a world out there based on trading  really got me ticking over i wanted it even more   but a lot of it stemmed from understanding  what the trader does when i was at closing   Okay great so how did Navin actually pull  you in to you know to to to fund you? Because   I've been with Urban Forex for a long time  and i know he doesn't do this easily so   yeah is is thinking like how did you get  funded? I'm sure this is probably varying   accounts on how this happens on my side it  was definitely a mixture of perseverance and   physical harassment i think he eventually caved  in because i just kept playing and trying but no   i think jokes aside like i think i really set my  store up from from day to day from the beginning   from you know going to koh samui and whenever  i got the chance to talk to him i was really   inquisitive to understand what the journey looks  like and how did you become a one-to-one how you   know how does how do you progress into becoming a  professional trader when i got you know snowfall   the opportunities to catch up with Navin if he  was ever coming to London to meet other students   i always made a beeline to catch up do a lot  of training and do a little learning with him   and then obviously i was keen to show that  i could replicate what he had taught me   so whenever i was going to Dubai i always try to  make the effort to catch him up and i think in the   end he really saw the determination of me that was  serious i was not going to give it up or go away   yeah actually i already saw this as well  when when you're in koh samui that that   persistence to to really learn and when you  were also a member of the elite community and   i i also saw that you were consistently doing  your post analysis there and i also mentioned   to Navin at the time like look look at this  guy he's he's doing his pa so consistently and   there's also honesty in them it's not just oh this  was my trade this was right this was wrong okay   on to the next one there was like that real road  that you know being honest with yourself like okay   this is absolutely where i did wrong and this  is how i change my whole trading behavior   so do you think post analysis has also or played  an important part in the journey of getting funded   yeah i mean look i think in i never stop  asking questions i think you know whether   it's in person or in trying to improve yourself  i think it makes a difference it goes back to   that hunger and desire right if you want to be  the best that you can you have to be honest with   yourself and not just go through the motions or  the exercises of saying hey look i just did a pa   that's not going to achieve yeah anything for  anyone if you want to be successful and prove   that you're worth investment from a serious firm  you kind of have to strive to be the best right   i also think for yourself that you know if you  want to grow in anything then you have to be just   honest with yourself and yeah i'm like the priest  on on post analysis in the elite community so   post analysis is like to me it's the golden key to  trading so i'd like to put a little extra emphasis   there but so now you're funded so you got funded  and then what you're set right this is this is   the finish line ? Right no i think it's it's very  dangerous to think like that i think you know you   have to be totally honest with yourself if you  get funded in the right firm it's it's the start   of a whole new journey again and it's really an  investment on both both parties you know i'm happy   to have been backed and funded but there's still  a hell of a lot of hard work to be done you know   i've i've not come across any trailer that just  joins a firm and kicks off from from the offset   and just mince it or flies i i don't think it's i  don't think you're set just because you get funded   okay so you're funded but it's not like  all said you made it so because i wasn't   i was under depression under the impression  that that was the case that once you're funded   that's it but that's not the case no  i think that's a misconception i think   and i think that's going to be downfall for a lot  of people if they they kind of believe in that and   i'm pretty sure there's loads of people on social  media or insta showing like this kind of lifestyle   i think i was listening to the podcast  before i think you guys are absolutely right   there's so many firms out there that you know  they get you to pay and to join that firm   you know you've got to ask yourself are you really  there on merit right you know if you don't produce   results you know i'm pretty sure in these cases  you're quickly at the door. Okay so Navin also   mentioned support being a very big part of of the  whole you know prop trader or prop trading firm so   can you explain a bit on what kind of support  is needed and what the importance of that is?  Yeah i mean look what's absolutely vital you need  an environment of you know support training and   patience i think that's like the holy trinity  of what you need if you want to be successful   you know me in particular i thought training  was going to be like a manual you know like a   car mechanics manual i'm one of these guys that  you know is a scientist i just thought you just   have to go through a set of procedures you know in  my instance i was i was very much a patent trader   and i think much of nothing's frustration patterns  yeah yeah please please don't don't curse in here   right. I know Navin. gets riled up when when  people you know get get stuck in patterns. right so yeah so when you're in a firm and  you're trying to get profitable you're trying   to launch you know you need time to learn from  these experiences you need to be able to talk   through your issues with your mentor you know you  don't want to be under pressure to perform off the   off and i've been given that time you know i've  been given time and training to fix my issues and   i don't think you'd get that in a lot of phones  you know i just don't think so. Okay so you're  

not the only one who's on the on the prop trading  firm there's some other colleagues there did they   start before you or did they start after you? No  we pretty much all started around the same time i   mean some of the guys were probably there before  me they're not a lot before me so we've all been   there or they're about the same time and you  know it's nice to see that some of the guys   are on their journey you know maybe  a little bit more advanced for myself   that some of the guys have launched quite nicely.  Okay without getting into too much details about   their journeys because you know i can interview  them as well and i and i will but did any of those   other colleagues really launch from day one?  I know you already kind of mentioned this but   let's get a little bit deeper into this.  No I not really look i think we all   have to learn and we'll probably learn at our  our own pace we probably all have our our own   personalities we probably like and can pick up  breeds and certain things better than the others   so nobody came in off the off the bat and just  came in and start putting you know ten percent   in the accounts you know i think very much the the  process is you know you learn from your mistakes   you you do your pas you try and stabilize and then  once you know that you've launched them you know   you get more and more backing okay yeah again the  importance of pa so can't stress that enough so   what about your routine not so much your trading  approach but what does what does your day look   like as a as a prop trader yeah it's really cool  it's obviously the lifestyle that i won my day   actually starts the night before i like to pick my  peers and read the charts prior to a day's trading   session i don't like to wake up in the morning and  be reactionary or reactive to to what's going on   so i pick my peers the night before it keeps me  focused and then i prepare myself to trade for   London and New York the process is that  once you you do find a pair that you like   or pairs that you like you know i'll do  a pre-analysis of that pair so within the   the group of the prop firm i'll load up a video  explaining what i'm what i'm looking at why i'm   looking at it explaining my read going through  how i want to trade it what the alternatives could   be how it could react you know i'd go through and  try and plan exactly how i want to trade that pair   and that's only half the day and then you know  the second half of the day is obviously once   you've traded it going through your post analysis  figuring out what you've done good figuring out   what you've done bad figuring out where you've  got some flaws and how you want to fix that   and then the step beyond that is is is  trying to iron out all those issues and   being able to have that you know that almost that  24 7 access to living to to have your one-to-ones   carry on flourishing and growing. It's funny that  in in your routine you mentioned a lot about the   the preparation, so the prep, you mentioned  like two words about doing the trade and then   you mention quite a bit about the post analysis so  it seems like most of the work is actually done in   the preparation then during the trade you know  what to do and then in the post analysis you go   over what you could have done better and what you  will do better next time Is post analysis in the   prop firm more difficult than it is in your you  know regular trading? Or the trading before you   are in the prop firm? It can be it can definitely  be the most frustrating thing that you do   especially when you know you're making the  same mistakes again you know some of my pas   tell me it's patterns again yeah yeah some  of my pas definitely get a little bit scary   at times but look you know PAs can also  be the most rewarding things because in   our firm you have the ability to learn from your  mistakes you know you're not pressurized as well   to you know if you make a mistake it's fine you  can figure it out you can get around it and then   once you do get it right you know it's a great  feeling. So you're mentioning the word pressure  

and you also mentioned that you're allowed to  make mistakes and that you can learn from so   trading at the capital of Urban Forex then and you  make mistakes you're losing that capital right?   And you also mentioned that not everyone launches  or actually no one launches from day one so   do you feel pressured to perform because  of that? Because you know at some point   you'll you'll have to or everyone will have to  deliver right? Sure for sure 100 look of course   this pressure this personal pressure to make it  this pressure that i put on myself to make it   there's the pressure of being committed to going  full time right but then yeah absolutely like you   say there's the pressure of being in the firm  and wanting to be the best or wanting to launch   and that's exactly my case at the moment you  know it's what i feel right now because right   now you know my reads really really good i'm  not either maximizing from profits all the   time or i'm scratching that break even and i see  my trade lift off where i'm taking a small loss   i go look at other guys pas and the teams and  they've made money off of a trade that i've picked   so you do feel it you feel it but yeah of course  you also know that there is a pressure and a   deadline that you have to make it by you know i  don't feel well that not all of us will make it in   in the furnace so it's important to be you  know on for me to be on the roster in 2022   and to be training a larger size account  but i guess what i'm really saying here is   ultimately there's still that fear of failure  even though you've been funded and backed   right you know you're not brandished we're not  brandished with pressure you know we're given   an environment to flourish but the whole point is  to be profitable so it's a win-win for everybody. Yeah that's good because i'm personally  not that much involved in the prop firm or   not at all actually so it's it's good to hear  that there is a an environment of good support   and also that the pressure is manageable in a  way that you you feel supported and that not   you know you make one mistake you're out what  you know kind of what we just heard in the in   the podcast prior to to this webinar so some  of your colleagues are are doing quite well and   what would that mean in more concrete terms? so  some of the guys like i said i've mentioned you   know they've now stabilized and they're turning  over doing multiple hours on a weekly basis some   of the guys have continued that and consistently  perform on that level and they've got a few cycles   of funding behind them so they've got larger  and larger accounts so the good thing to to know   and the great thing to realize is that you're  going to be backed based on your performance   and you're going to give it given the time to  perform you know i know some of the guys are   flying out to Dubai right now to do further  training so if you do enough you you definitely   get the backing you know it's done in a logical  way not like how we've we've heard before where   you have to pay to get in and you're not going  to wear it you know you you get you get if you   perform you get and you deliver results you get  back. And you you also get the space to you know   to start to perform to launch base absolutely  yeah okay that's very good so is it like a   competitive environment because you mentioned  that sometimes you pick some pairs and then   and you may not always end up profiting from those  pairs or from those setups but you see some of   the colleagues actually making money from those so  that does that create a competitive environment or   look it's like it's healthy it's really healthy  it's really positive there's no negativity   in the firm at all it's an absolute great place  look we've all come from different backgrounds   with different ages you know with different  cultures you know we're pretty much spread across   all the continents right but yeah it's really  healthy friendly competition because we all want   to get into into that place right now you know  i'm aspiring i'm looking at others in the group   don't get me wrong you know i want to be  the best trader that there isn't the problem it's all done in a healthy way.  okay that's good that's good  

so because there are different  performances among all the the prop traders   or different results do they do you guys also use  like different methods or different systems or or   anything? No not at all i mean look we all have  the same training we've all learned the same edges   like i said i think i think the reason that  this variation is because you have different   personalities as traders you know and you can  only trade with what you're comfortable i guess   you know i mean example i like trading pull  backs in on markets you know that's where i   i feel safest but some of the guys like doing  bounces some of the guys like trading ranges on   channels you know it's all about your development  and how you read the charts yeah that's probably   why there's varying levels of progress you  know we have the freedom to pick our own trades   so it's it's it's always nice and sometimes it's  great to see you pick a trade and that will say   you know what i'm watching that one with you or  yeah i'm in on that with you so you know you get   you get that you know reassurance as well does  does that happen a lot yeah he's i think he's   been meeting me for a while. Okay that's cool so  yeah what i gather from from you so far is that   being funded is not really the finish line  so it's it's not like oh you crossed it   because you found it and yeah you put your hands  in the air and it's the finish line and that's it   is that right is that a correct conclusion?  No i don't i don't i don't agree that it's   not my opinion at all like i mentioned  i think it's it's the beginning of a new   journey right provided that you're in the  right firm you know where you're invested   in then you deserve to be on that platform  yeah but look you're always going to make   mistakes and as long as you're allowed to to  develop and you know learn from those mistakes   i think you know we're given the opportunity to  go and develop you know there's something that   Navin said to me at the beginning of my my started  in the prop firm he was like look you've got all   the education you've got all the knowledge now  you just got to go get the artistry you know go   go get the artistry and what is exactly meant by  that is you know go develop go go find how you'd   like to trade you know you're given that that  time and that space to develop. Yeah that's nice   and so when when you makes mistake when you  make mistakes sorry, you you're still going   to be supported so what we were just discussing  in the in the podcast is that you have to follow   like so many rules and everything it's it's not  at all like that right? So you have a lot more   trading space if you will yeah we have the  freedom to pick up to pick our own traits   as long as we can explain it and justify it  and yeah for sure we do make mistakes you know   but you know just just circling back to what the  main aim is what the main goal is you know we've   been brought in to make money in the long term so  you know it's important and it's it's nice to know   that the firm trusts you like  i've been trusted with you know   you're allowed to to get there to develop and fix  things because you're part of that long-term plan.  Does that already give you some sort of peace  of mind that kind of evens out that pressure   we were talking about earlier? Yeah because the  whole setup is for you to flourish you know the   whole setup is is for you to to turn around i mean  the understanding is there you know like listening   to the podcast prior you know once you get in  you it's only the start you know you're not under   specific terms or rules or times you know you're  there to to to grow as a trader and it and it's   it's a two-sided thing it comes from both sides  if you know if i've been trusted and invested in   you know then you want to you want to develop and  show that return as well right so you don't feel   that pressure yeah so basically the  the interest have to be aligned between   the prop firm and and the trader it cannot be  there cannot be no alignment there. Yeah i agree   okay another thing is is there anything  that you do differently as a trader? So   you mentioned that you've gone through all  the the courses like the MPA 1 one and the 4CB  which is now the Mastering Technical Analysis and  and all those other courses. Is that still what  

you follow or do you trade differently or based  on something else in the prop firm? No it's it's   it's exactly the same there is no difference the  materials the same whatever the the courses are   and if you're in the elite community you see  some of the sessions with the one-to-one guys but   they're being taught we're being taught exactly  the same thing you know on some occasions if i   have an issue or if i've if i've made a couple of  mistakes you know navin will say to me you know   go and watch one of these one-to-ones i think  what you've done is covered off in there almost   so all the materials the same you know we trade  we trade the same way right we're trading trend   ball backs and just trying to pick the right pairs  and get the timing right the main difference is   in what we do is probably the sizing and the  scaling up and getting the consistency in those   trades and how to scale you know that's that's  that's knowledge and technique that i've not   seen before and that's what i'm now trying to  harness for me because right now that's what   we're trying to do in order to once we get that  mastery right then we can move on to trading the   larger accounts. Yeah yeah that makes sense okay,  well i think we've covered pretty much everything   that i wanted to know and all the questions  i prepared i'd like to know one thing so if   we were to go back to when you were working in the  medical industry and you first heard about trading   and everything and knowing what you know now would  you still do it? 100%, I love it i'm obsessed with   charts i look at the charts you know 24 7. i kind  of wake up and i look at charts you know i spend   my weekends practicing my only regret is i didn't  see it earlier i didn't know it was there earlier   but having done what i've done about what i've  done in my education you know that's a journey   in itself i don't i don't regret any part of that  but yeah i definitely wish i got into it earlier   or maybe found those those youtube videos earlier  yeah yeah. We we hear that a lot actually but oh   can't can't change destiny i guess or whatever it  may be okay well thank you Olly for for making the   time to to answering some of these questions i'm  sure there were a lot of people here that were   wondering about a lot of these things and yeah  i'm gonna wish you all the best for the upcoming   months or the last months of this year and 2022  as well i can tell from your persistence before   both before this this interview and now that  yeah i i'm pretty sure you're gonna make the   make it and then you know you're gonna be trading  a larger account you're going to go through those   those funding cycles a few times so i'm looking  forward to that. Yeah yeah i really appreciate   it and nice to to come and talk and i maybe  next next time around i can i can be on the   other side of the fence to tell people what it's  like to be trading a loved or an account yeah   It's a nice one it's a brilliant interview  Olly since i know that the interview is coming   to an end we need to get onto a call to discuss  some of your post analysis that you've done for   patterns again get out the whip get out the whip all right since i have you here i'm like after  this we can get onto a call so yeah okay okay cool   well i'll end the webinar here thanks everyone  for tuning in i hope you all enjoyed it you all   i think it was useful to to hear what Olly has  to say about his experiences as a funded trader   and i'm actually looking forward to doing a few  more of these interviews with some of the other   guys on the prop firm and with Navin as well so  thank you all for taking the time to be here and   we will catch up again in the next webinar  in two weeks time have a good day cheers bye

2021-09-09 14:46

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