“There’s no such thing as easy money.” This common saying may be true, but so is the related cliche: “Work smart, not hard.” It’s this enduring philosophy that has driven many to the world of foreign exchange (forex) trading in search of big payouts and trading success.
Among the hordes of dreamers with dollar signs in their eyes, only a few will be successful. With up to 90% of forex traders taking losses, it can be a daunting field to attempt to enter. Nevertheless, the success stories that have emerged are inspiring enough to make everyone at least consider trying their hand.
Going into forex trading blind is a guaranteed way to become a statistic. Instead, learn lessons from some of the most successful traders who have managed to live out real-life rags-to-riches stories. This includes Nur S., a mother who has raked in six-figure profits on The Funded Trader.
Nur is an inspiration to forex trading novices. Here, she provides a roadmap for how to find trading success and make the most of The Funded Trader.
When people think of funded trading, they typically imagine highly educated men in suits on Wall Street. Nur defies all those stereotypes, illustrating that anyone can find trading success if they make wise moves with the right tools and have patience.
How They Got Into Trading
About seven years ago, Nur was a stay-at-home wife living in Malaysia. Recognizing that she would like to supplement her household income, she began seeking ways to make money. Both her brother and husband were traders, which inspired her to try it too. Judging by how well things have gone for her, it’s likely one of the best choices she has made in her life.
Nur has made six figures through Forex trading. While she’s undoubtedly an amazing person, she holds no secret codes or special talents that you yourself are incapable of. Pay attention to her incredible story and how she achieved trading success.
How They Found the Funded Trader
There are a few forex trading platforms to choose from. After a Malaysian influencer reviewed The Funded Trader, Nur was convinced it would be the best option for her. Understandably so, as the platform makes it simple for newcomers to start trading. It also gives traders full control of how they choose to trade their money. As a premium platform for forex and cryptocurrency trading, The Funded Trader has granted many people financial freedom.
For most people, making six figures requires years of university study and even more time climbing up the corporate ladder. Nur proves that if you’ve got brains, perseverance, and are good at learning independently, you can earn significant returns through forex trading without a fancy degree.
You should know, however, that it doesn’t come easy. Becoming a good trader requires learning the correct strategies.
Over her seven years of trading, Nur has accumulated valuable knowledge from various sources. Independently, she carefully learned what works, what doesn’t, and what rules of thumb to follow. To craft her winning strategies, Nur uses a resource we all have access to: social media. Through Facebook, she has discovered like-minded communities in Malaysia where people publicly share their strategies.
A Combo of Winning Techniques
Each forex trader will likely have a unique road to trading success. In Nur’s case, she earned a fortune through a combination of techniques. These include support and resistance (SNR), supply and demand (SND), the Elliot Wave principle, and divergence trading. Since then, divergence trading has become the core of her trading system.
But what is divergence trading? “Divergences” occur when a forex currency pair you’re observing goes in the opposite direction of what the trends indicate. With experience, traders can read these divergences to spot opportunities or know which options to avoid.
To make the necessary technical analyses, you need to use the right programs. Nur’s preferred platform is Trading View, which is available on The Funded Trader’s site. She finds this platform useful because she can easily find hidden divergences.
Furthermore, Nur can zoom in and out depending on what time frame she’s working in. This is ideal because it allows her to alter her perspective as needed. She can zoom out if she needs a more long-term outlook, or she can zoom in if she needs to focus on what’s going on that very minute. It also allows her to trade on a 5-minute or even a 30-second basis, though this isn’t her preferred trading style.
People have found trading success using different methods. For instance, you can be a day trader who purchases assets during the day, pays attention to fluctuations in prices, and then sells the assets within the same day to maximize profits. This method is more short-term focused. It requires an intimate knowledge of the financial markets and their constant changes. Although day trading can be profitable, it’s extremely risky and has a low success rate.
Some traders use the scalping strategy. This method is also short-term focused. It’s founded on the belief that it’s wiser to try to profit from small changes in the market rather than large ones. Typically, the aim is to purchase a currency pair and hold it for only a few seconds or minutes before selling it at a profit. It’s a quantity-over-quality approach, but it requires discipline. It will also take a while before traders see big profits.
Nur employs a swing style, which is more medium-term. She buys her currency and then sells it around two to three weeks later. This is the ideal strategy for people with busy lives, such as a mother. Nevertheless, it also comes with its fair share of risks. For example, while holding their position, they could miss out on potential profits as they wait for better conditions that may never come.
When forex trading, there are various trading pairs to choose from. In the simplest terms, this refers to the currency the trader is holding and the one they wish to trade in. Picking the right currency pairs is at the heart of trading success. Some traders prefer to focus on one pair, while others diversify. Nur focuses on Nasdaq and Dow Jones, although she has experimented with other pairs, including those involving gold.
Hitting the 6-Figure Mark
When Nur started trading, there were a few options available to her, including crypto. But she has always found her sweet spot with forex. However, she has recently been experimenting with index trading as well.
After seven years of doing trial and error in trading, several blown personal and challenge accounts, Nur finally found success trading with The Funded Trader—with a payout of $100,000. It’s no doubt a life-changing amount, and it’s an impressive achievement for a mother just trying to bring in a little extra money for the household.
Advice to Future Traders
After hearing Nur’s story, it’s tempting to want to try and replicate her trading success. Fortunately, she does share advice on how to get the fantastic results she has achieved on The Funded Trader.
Find an Approach That Works for You
Most importantly, you must find a trading system that fits you. Consider your knowledge, your existing schedule, and your style of thinking before you make a decision.
As discussed, there are various ways you can approach forex trading. Whether you choose to be a scalper or trade by the minute will depend on your stress levels and how much information you can handle.
Determine Your Focus
Finding your trading style also entails deciding whether to focus on a single currency pair or two or to trade across various instruments. While diversifying allows you to put your hand in many pots, it can leave you as a jack of all trades and master of none. Instead, it may be a good idea to take Nur’s approach: narrow things down and focus only on a pair or two. Over time, this allows you to intimately know these instruments, giving you the knowledge and experience to make better trading choices.
Chart Your Own Course
Remember, Nur’s story is her own. While there’s a lot to learn from her, attempting to perfectly emulate her trading strategy may not lead to success for you. Divergence trading worked for Nur, but it may not suit your trading style or schedule. Fortunately, with the right mindset, you can find your path to trading success through other methods, such as SND or SNR.
Take Losses Lightly
Nur crucially also stresses that traders should not let losses define them. Nobody likes failing, especially when it involves losing money. Seven years into the game, Nur has suffered losses as well, and admits taking a loss isn’t easy for her. However, instead of being bogged down by the losses, they should be treated as learning experiences. In Nur’s case, she learned to improve her money management. Her story is proof that failure at one point in your forex trading career isn’t proof you’re doomed to be defeated forever. You can bounce back better than ever—and with patience and hard work, you can also be a successful forex trader.
Anyone Can Find Trading Success
It bears repeating that the failure rates in forex trading are astronomically high. The majority of people who go into it end up losing money. Nevertheless, people like Nur demonstrate that if you know what you’re doing, you can find life-changing success. You don’t need to be a hedge fund manager on Wall Street, nor do you need to be working out of an office in a big city. Even a stay-at-home mom, with all the work and stress of raising her children, can achieve great things with the right knowledge.
It should be evident by now that the path to the top lies primarily with understanding forex trading and discovering what trading style suits you best. You also need great money-making skills and the perseverance to keep pushing when you face inevitable adversities. Lastly, to give yourself the greatest odds of trading success, you need a great platform that gives you all the tools you need to work efficiently.
Find Trading Success With the Funded Trader
Ready to take the plunge into forex trading? The Funded Trader offers a relatively simple two-stage evaluation process for beginners in trading.
Depending on your trading style and risk appetite, The Funded Trader has multiple challenge accounts you can choose from (Standard, Royal, or Rapid) that have different amounts of capital.
In Phase 1, you’re expected to achieve a certain profit target within a specified number of days without violating any rules. Having done so, you’ll progress to Phase 2: you’ll still be required to stick to your trading plan, but your profit targets will be lower. After passing Phase 2, you will get funded and be eligible for an 80% profit split.
If you prove you have what it takes to achieve trading success and show consistent profits, you’ll be eligible for the coveted scaling plan. In addition to increasing the size of your Funded Trader account by 25%, you will also be eligible for a juicy 90% profit split.
Start your forex trading journey with The Funded Trader today. With some patience, hard work, and perseverance, you could be the next Nur, drawing in six figures while working from home.