Ben's Trading Journey

Introduction & Background

• The video begins with a greeting and congratulations to Ben for hitting two targets on his Funded Trader Program account.
• Ben introduces himself as a trader with eight years of experience in the trading industry.
• He shares that his journey has been challenging with multiple struggles and setbacks.

Early Trading Experiences and Challenges

• Initially, Ben traded his own account with brokers but did not find success.
• In 2021, he joined a proprietary trading firm (prop firm) where he was paid but the firm later closed, causing mental stress.
• He then passed a challenge with another prop firm and made profits on a $1,000 account, but the firm refused to pay him, causing further frustration.
• In 2023, he stopped using prop firms and returned to trading personal small accounts, finding it difficult.
• Looking for a reputable and long-standing prop firm, Ben tried an older version of the funded trading program (called Ability One), where the targets were 10% for each stage.
• He passed the first target easily but failed the second verification stage.
• After this, he switched to the current Funded Trader Program (FTP), which took him about a year to commit to and restart slowly.

Progress with the Funded Trader Program

• Ben started with a $7,500 account, then graduated to $15,000, and now trades a $30,000 funded account.
• He emphasizes that his success is due to redefining his goals, focusing on patience rather than expecting quick profits to live a luxurious lifestyle.
• He is comfortable progressing slowly, even if it takes one or two months to reach targets.
• The gradual approach has helped him maintain mental balance and reduce pressure.

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Insights on Trading Psychology and Discipline

• The interviewer highlights a common issue among traders: the false expectation of getting rich quickly through trading, often fueled by social media portrayals.
• Ben acknowledges that while a single profitable trade can bring significant gains, the real challenge lies in consistency.
• Losses are an inherent part of trading, and discipline in waiting for the right setup instead of chasing the market is critical.
• Trading is not about placing trades daily but about analyzing patiently and waiting for the market to come to your setup.
• Ben relates personally, sharing how working in IT means he is often in front of the computer, which can lead to impulsive mistakes.
• Both agree that discipline is the hardest part of trading, especially when one knows where the market might go but must wait for confirmation.

Strategy Evolution and Current Trading Approach

• Ben shares that his original strategy was based on the Ichimoku bands, which worked for others but not for him.
• He spent considerable money on various courses and followed many market gurus on YouTube but struggled to find a system that helped him consistently make money.
• In 2021, he found a teacher offering a lifetime course costing $25,000, which he describes as the best teacher he has had.
• Before that, he tried Elliott Wave theory, but it did not fit his style.
• The teacher’s method, called Wave Trading, focuses on identifying market corrections (not strictly the five-wave Elliott pattern) and trading the next move after corrections.
• This method requires mastery of identifying corrections across multiple timeframes (from 4-hour to 15-minute charts) to enter trades effectively.

Wave Trading Strategy Details

• Ben uses a top-down analysis starting with the 4-hour chart, then moving to 1-hour and 15-minute charts for trade execution.
• He emphasizes the importance of cutting losses early, not waiting for full stop-loss triggers if the price moves against him.
• His stop loss is generally limited to 1% of the account per trade, which helps maintain peace of mind and risk management.
• Trades are generally intraday, with positions closed before the end of the day, aligning with the funded program rules that discourage overnight holding.

Asset Preferences and Differences Between Accounts

• Ben mostly trades major currency pairs, some yen pairs, and euro pairs on the funded program account.
• He sometimes trades gold and other assets on his personal account but adheres strictly to the funded program’s risk rules on the funded account.
• His personal account allows him to take more aggressive risks, sometimes losing up to 5% a day, whereas in the funded account he stops trading after a 1% daily loss.
• He recognizes the importance of preserving the funded account, prioritizing steady growth and risk control over quick profits.

Performance Comparison and Scalability

• Ben admits his personal account performance is less consistent, with occasional 10% losses that require recovery.
• The funded program offers scalability: for example, a 10% gain on a $7.5k funded account doubles the account size, which is a significant advantage over smaller personal accounts.
• This scalability and structured risk management are the main reasons he prefers the funded trader program for serious growth.
• He plans to increase his personal account size to $20k next year and hopes to apply similar risk discipline there.

Long-Term Plans and Full-Time Trading Ambition

• Ben currently works full-time as an IT specialist and trades on the side.
• His long-term goal is to reach the maximum allocation in the funded trader program, which he hopes to achieve by December.
• Once he attains maximum funded capital, he plans to transition to full-time trading, leaving his IT job.
• He is motivated by the dashboard that tracks traders’ progress and wants to be the top trader with maximum allocation.

Advice for Aspiring Traders

• Ben shares valuable advice based on his eight years of experience:
• Trading takes time; it is not a quick way to make easy money.
• Patience is essential—success will not come in one month, six months, or even one year; it may take several years.
• Invest heavily in knowledge and education; quality training is crucial.
• Before trading funded accounts, start with a small real-money account (e.g., $50) rather than demo, to develop the discipline of protecting actual capital.
• The key is to avoid losing money initially; if you can keep your capital, you are on the right path to growth.
• Be patient and persistent; over time, results will come.

Closing Remarks

• The interviewer thanks Ben for sharing his journey and looks forward to a follow-up interview when Ben reaches six figures or the maximum allocation.
• Ben confirms a plan to reconnect in December when he expects to have the maximum funded allocation.
• The video ends with well wishes and encouragement for Ben’s ongoing trading success.

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Summary Table: Ben’s Trading Journey and Key Milestones

Key Insights and Conclusions

• Patience and discipline are fundamental for trading success, more than quick profits or high-risk strategies.
• Risk management, particularly limiting losses to 1% per trade and daily loss limits, is key to sustainability.
• The Wave Trading strategy, focusing on market corrections and top-down time frame analysis, suits Ben’s trading style well and promotes consistency.
• Funded trading programs offer scalability and structure that personal accounts may lack, providing motivation and a clear growth path.
• Transitioning from personal accounts to funded accounts requires adapting risk approaches to maintain steady growth.
• Trading is a long-term journey involving ongoing education, practice, and psychological resilience.
• Real-money trading, even with a small amount, is a better training ground than demo accounts for building discipline.

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