Introduction If you've ever wondered how to become a funded trader, you're in luck. In this blog post, we will discuss the process of becoming funded and provide you with three valuable tips to help you succeed. Becoming funded means that a PL firm, or Profitable Traders, is willing to fund your trading activities if you can pass their evaluation process. We will walk you through the steps of purchasing a challenge and explain why Clarity Traders is the best option in the business. Step 1: Visit Clarity Traders The first step to becoming a funded trader is to visit Clarity Traders' website. You can find the link in the description of this blog post. Once you reach the Clarity Traders website, navigate to the dashboard. This is where you can choose the type of challenge, account size, and trading platform that suits your preferences.
Choosing the Challenge Clarity Traders offers different types of challenges, including One Step, Accelerator, and Traditional. You can select the challenge type that aligns with your trading style. Additionally, Clarity Traders provides funding options of up to $300,000, with profit shares of up to 97%. This means that if you make profits on a $300,000 funded account, you can earn up to 97% of the profits you generate. Selecting a Trading Platform Clarity Traders supports various trading platforms, such as MetaTrader (MT4 and MT5) and Trade Locker. You can choose the platform that you are most comfortable using for your trading activities. Clarity Traders also offers add-ons that allow you to customize your trading experience. Whether you want a higher profit share, the ability to trade on weekends, or the use of a profitable EA, Clarity Traders has options to suit your needs. The Evaluation Process Now that you understand how to purchase a challenge, let's dive into the rules of the evaluation process. Each challenge has two phases, and you must pass both phases to become a funded trader. In the first phase, you need to make 8% on the account without losing 8%. This means that if you have a $100,000 account, you must make $8,000 before losing $8,000. Alternatively, you must stay within a 5% daily drawdown limit. Proper risk management and the tips we will provide later can help you easily achieve this 8% target. Once you complete the first phase, you will receive the credentials to proceed to the second phase. The second phase has a lower profit target of 5%, but you still need to avoid losing the initial 8%. If you successfully complete both phases, you will receive a live funded account with profit shares ranging from 95% to 97%. This means that if you make $10,000 in profits, you will receive $9,500 to $9,700, depending on the profit share percentage. Purchasing a Challenge Purchasing a challenge from Clarity Traders is straightforward. Once you have decided on the account size you want, select it from the options provided. Then, choose your preferred payment method, whether it's crypto or credit card. Clarity Traders often offers coupon codes that provide discounts on their challenges, so keep an eye out for those. After applying the coupon code and selecting the payment method, proceed to the payment. Unlike other firms, Clarity Traders will send you your credentials almost instantaneously, allowing you to start the evaluation process right away.
Three Tips for Success Now that you know how to become a funded trader with Clarity Traders, let's discuss three tips that can help you pass the challenges with ease. Tip 1: Be Patient One advantage of Clarity Traders' challenges is that there is no time limit for completing the evaluation process. This means you can be patient and wait for the highest probability setups. There's no need to rush into any trades. Take your time, be picky, and wait for the perfect opportunities to maximize your chances of success. Tip 2: Use Proper Risk Management Risk management is crucial in trading. Always risk the same percentage of your account on each trade and ensure that your winners outweigh your losses. For example, if you have a $100,000 account and you're risking 1% per trade, your risk should be $1,000. Regardless of the size of your stop-loss, always make sure you're only risking $1,000. Additionally, aim for a positive risk-to-reward ratio to stay ahead in the long run. Tip 3: Avoid Greed Profitability in the market puts you in the top 1% of traders. It's essential not to let greed get the best of you. When you're in profit, consider taking some profits off the table. Holding onto trades for too long can lead to unnecessary losses. Don't be afraid to secure your profits and avoid the mental battle of deciding when to exit a trade. If a trade is going well, take some profits and celebrate your success. Conclusion Becoming a funded trader in 2024 is an achievable goal. With Clarity Traders' user-friendly platform, flexible challenges, and generous profit shares, you have an excellent opportunity to turn your trading skills into a funded account. Remember to be patient, use proper risk management, and avoid greed. By following these tips and putting in the effort, you can become a funded trader and join the ranks of the profitable 1%.