Master Prop Firm Trading Course 23: Don't Blow Your Account (2024)

Prop trading can be a lucrative career choice, but it comes with a significant amount of risk if you don’t know what you are doing. Without the right knowledge and skills, it’s easy to blow your trading account and lose everything.

That’s why we’ve developed the Master Prop Firm Trading Course 2023 to help you succeed in the competitive world of prop trading. In this prop firm course, we’ll provide you with the tools, strategies, and mindset you need to navigate the markets and avoid costly mistakes.

This first lesson is just an introduction, we’ll go over everything that will be included in the course and help you on your way to become successful prop traders.

Before we proceed, welcome to Trading Strategy Guides! We take pride in offering some of the most extensive trading education in the industry. We invite you to explore our vast collection of trading strategy articles to find resources that match your specific interests and needs.

We recommend that new traders check out our comprehensive guide, What is Trading? This guide provides an overview of financial markets and covers the basics of trading, which is essential knowledge for anyone starting in the industry.

If you’re new to proprietary trading, we have you covered as well. We encourage you to read our most comprehensive guide on prop trading. This guide is the first article in our what are prop firms series, it provides an in-depth understanding of the world of prop trading and is an excellent resource for those seeking to learn more about this exciting and lucrative field.

Finally, make sure you SUBSCRIBE to receive access when the course next course lessons are complete. The remaining course lessons will not be available publicly, so you must sign up!

Thanks for hanging in there, let’s move on to the best prop firm trading course!

Introduction — Prop Firm Trading Course Overview

Trading is so EASY! (I can hear your head exploding from here). That’s correct (please keep reading, don’t run away because you thought you just heard blasphemy)! I said it. Trading is actually incredibly simple when you think about it. Listen to me for just a moment.

In today’s computer age, with the amazing wealth of knowledge we all possess, we can open up a website, or app, and by clicking a mouse button, we can enter a trade. With an additional click of the button, we can exit the same trade, in a matter of seconds.

Additionally, we have the most advanced charting, indicators, and technical analysis data and software at our fingertips today that has never been available in history.

One last point, there are, quite literally, trillions of dollars flowing through the markets every single day. Meaning there is plenty of opportunity for even the most humble of traders to profit.

See? Easy, right?

So, that leads me to the burning question that I know you’re asking right now. . .

If trading is so easy, then why do so many traders fail?

The answer is very simple, and there exactly are three reasons: traders don’t understand the importance of controlling their emotions, and they don’t have a plan. The third (and in the author’s opinion the least important reason) is they don’t have a winning trading strategy.

OK, I’ll admit, maybe trading isn’t all that easy, but, it doesn’t have to be that difficult either. Many times, we make trading much more difficult than it needs to be. If each one of us were to sit down, and take a deep breath before entering the market (AKA don’t be in a hurry to blow your trading account), make a plan, and execute it, we all would be much more successful traders.

We’ve developed this guide to help you master these three essential components in your prop trading.

This prop firm course introduction is designed to outline how we will help you become a successful prop trader in 3 easy steps. The following steps will be written in separate articles, each of which will be published in the coming weeks.

Prop Firm Trading Course Step 1 — Trading Psychology

I’m going to bluntly emphasize. . . Do not skip this step! This is almost single-handedly the reason why 90% of traders fail. That is why trading psychology and mindset are going to be the very first lesson of this course.

If you go into trading with the wrong mindset, you have quite literally planned to FAIL your prop firm!

I know it sounds harsh, but you need to hear this: You aren’t going to find success in your trading if you think purchasing a prop test for a large sum of money is going to suddenly make you rich.

Knowing yourself and your emotions, understanding your risk tolerance, and developing discipline, are the keys to becoming successful as a prop trader. We will break everything down for you in simple bite-sized pieces to grab hold of the reigns of your trading psychology.

Prop Firm Trading Course Step 2 — Develop a Trading Plan

Listen up, because this next step is equally as crucial as step 1! If you think you can just wing it in prop trading, you’re setting yourself up for failure. Developing a solid Trading Plan is a non-negotiable part of becoming a successful prop trader.

I love to watch old westerns, there’s nothing better than watching The Duke, Shane, Marshall Dillon, or countless others shoot from the hip, and nail the target with eagle-eye precision.

But the truth is, that is really, really, really, (and did I mention REALLY?) hard. Just like in the markets, it’s rare to be a dead eye.

Without a plan, you’re essentially gambling with your money, and the odds are not in your favor. But don’t worry, we’ve got you covered. In this step, we’ll break down how to create a Long-Term Plan, Medium-Term Plan, and Short-Term Plan that align with your goals and risk tolerance.

We’ll also discuss how to monitor and adjust your plan as needed to stay on track and make progress toward your trading objectives. Remember, a well-crafted Trading Plan is your roadmap to success in prop trading, and we’re here to guide you every step of the way.

Prop Firm Trading Course Step 3 — Develop a Winning Strategy

Alright, you’ve made it to the final step, and it’s time to develop a Winning Strategy that works for you. But before you dive into the exciting world of strategy development, there’s one important prerequisite you need to meet: Backward and Forward Testing.

Testing your strategy on historical data will help you identify strengths and weaknesses, and allow you to make adjustments before risking your capital in the live market. We’ll walk you through the testing process, and help you fine-tune your strategy for optimal performance.

Then, we’ll dive into Entry and Exit Strategies that will give you the edge you need to succeed in prop trading. We’ll explore different types of trading strategies, including technical analysis, fundamental analysis, and algorithmic trading, and help you choose the approach that best suits your trading style and objectives.

By the end of this step, you’ll have a fully developed, tested, and optimized trading strategy that gives you the confidence to take on the markets and succeed as a prop trader. Get ready to take your trading game to the next level!

Conclusion — Prop Firm Trading Course Overview

In this Master Prop Firm Trading Course Overview 2023, we emphasized the importance of having strong trading psychology and developing discipline, which is crucial to avoid blowing up your trading account.

We also explored the importance of having a well-defined trading plan that covers your long-term, medium-term, and short-term objectives.

Finally, we briefly discussed the process of developing a winning trading strategy that gives you the edge you need to succeed as a prop trader. By testing your strategy on historical data and optimizing your approach, you’ll be prepared to tackle the markets and achieve your trading goals.

We sincerely hope that the remainder of this course helps you to become a better, stronger, more disciplined prop firm trader. By following the guidelines this course sets, you should never blow up your prop account again.

Stay tuned for the remaining lessons of this prop firm trading course, we can’t wait for you to learn how to be successful as prop traders. In the meantime, you can check out what Global Prop Trader is all about

Remember, prop trading is not a get-rich-quick scheme, and success requires hard work, dedication, and a willingness to learn and adapt. But with the knowledge and skills you’ll gain from taking this course, you’ll be well on your way to becoming a successful prop trader. Good luck, and happy trading!

We hope you liked the prop firm course introduction! As was mentioned earlier, we will be releasing the remaining prop firm course lesson in a private webpage that is only available to those who subscribe. Please submit the form below to be one of the first to get access to the best prop firm course out there.

Further Reading

Enhance Your Trading Strategy: If you’re seeking a more effective strategy than your current one, we recommend diving into this insightful article. Discover valuable insights to refine your approach and achieve better results.

Understanding Prop Trading: Explore the concept of prop trading and its potential for providing financial stability. Gain a comprehensive understanding of this unique trading approach and its benefits.

Master the Art of Trading: Delve into the world of trading by grasping the fundamentals of financial markets. Expand your knowledge and comprehend the distinctions among various markets, empowering you to trade with confidence.

Forex Trading for Beginners: Acquire a solid foundation in Forex trading, regardless of your current level of expertise. Uncover the basics and unlock the potential to become a skilled Forex trader.

Effective Risk Management: Learn how to effectively manage risk with your trading strategy through the use of Sharpe ratios. This valuable formula will assist you in making informed decisions and safeguarding your capital.

Unlock the World of Forex Day Trading: Discover the art of day trading in the Forex market. This comprehensive guide will equip you with the skills and knowledge needed to fulfill your aspirations as a prop trader.

Day Trading Crypto: Uncover the opportunities and risks associated with day trading cryptocurrencies. Expand your understanding of this dynamic market and navigate it successfully.