Accelerated Training Program / Career Opportunity
Our Fast Track Forex Program was designed with a simple purpose in mind:
To propel the modern FX trader along an accelerated path to a pro trading career.
The path is designed to take you from zero to hero in the world of professional trading in 3 simple steps or levels. The program is ultra-flexible, since it allows each trader to start at a level that is commensurate with his or her experience and level of success . If a trader is already experienced and successful (as per our guidelines below), he or she doesn’t have to start at the beginning (Step 1) – but can instantly qualify as a pro trader (Step 3). If a trader is new or not very successful, he or she can start by taking the first step below. Here are the steps to get started:
Steps to Benefit from the Fast Track Program:
Initial Step – This is where you install and familiarize yourself with the advanced training tools you will be using when you move to Step 2. These tools are designed to accelerate your learning curve into the professional trading level. Here’s a list of things for you to do now:
Install the MT4 Platform – Complete this form to be able to download and install the trading platform (NOTE: If you already installed MT4 from our site, you do not need to do this again).
Set up the Technical Analysis Software (coming soon) – You will use the technical analysis and signal generation software to help you learn to trade and pinpoint high-probability trading opportunities in the market. Click here to visit the section that explains the benefits of the software and visual trading signals it generates, as well as provides the instructions to obtain free access to it.
Listen to the FX Mind Tuner Every Day: Download our FX Mind Tuner MP3 (installation link is provided when you request access to the MT4 platform mentioned above) and play it every day while you sleep for at least 21 days in a row to condition your mind for trading success. You can do this while you perform Step 2 (below). Even experienced traders can benefit from this. Here are the step-by-step instructions to use the Mind Tuner effectively. You can also read “Training in FX Should be Mental“ for a more indepth explanation as to why the technology works.
Open an Account and Start Creating your Track Record (click here to do so now) – This is the most important step and one that you can complete with the aid of the tools described on Step 1. Trading professionally for a living requires a track record of successful, live trades. It’s impossible to be entrusted with funds to manage without this.
But you may ask, “How long AND successful does my track record have to be?” This is a great question and one with no specific or ideal answer. What we’ll do is provide you with guidelines based on our preferences, which are derived from decades of experience vetting traders, performing thorough due diligence on them, and implementing risk management controls on multi-advisor/trader models. A summary of these guidelines is found below. You should also read the section titled, “Trader Success Requirements“ for a detailed explanation of each guideline.
Typical number of trades (minimum): 500;
Typical Length of Track Record (minimum): 6 months;
Yearly-Return-to-Maximum-Risk Ratio (minimum): 2; read more specifics by clicking here.
Employs an Acceptable Strategy: a methodology that limits downside on negative, floating positions (favorable MAE, Maximum Adverse Excursion).
NOTE: None of the above applies if you already have a successful, real track record; in other words, you can go straight to Step 3 if you already have experience as a trader and exceed our minimum acceptance parameters (see Trader Success Requirements below).
Apply to Become a Professional Trader – This is the “FX Pro Trader” part of Fast Track. While not all Forex traders would like to manage money for investors, a career in money management is a dream come true for those who do. Fast Track participants who want to trade our capital as prop traders or manage money for our investors as money managers, can qualify for this great opportunity. Consider this the “Finish Line” of the Fast Track Program. If you want to apply AND already meet the success requirements we highlighted on Step 2 and explained in detail in the Trader Success Requirements section below (very important), feel free to complete our Traders Wanted form. This is your opportunity to join our team and take your trading career to a higher level.
Every investment or money management firm is looking for different characteristics when hiring traders. But what exactly makes a trader successful? What kind of profile should successful traders have? What should you aim for if trading is your thing?
Traders come in all shapes and sizes and many factors need to be considered before determining if a particular one is ready to handle the responsibility of trading either other people’s money or in a proprietary capacity. In this section, we provide our minimum acceptance requirements before considering a trader for an entry-level money management or prop trading position.
When it comes to the length of a trader’s track record. Some companies want 5 years, some request 3 – they are all different in their selection process and preferences. Likewise, investment firms look for different levels of return-vs-risk ratios and other metrics. Some organizations even prefer certain trading styles or methodologies over others. Here are some of the requirements we look for:
- Number of Trades – Why 500? – To us, a track record is long enough as long as it is STATISTICALLY SIGNIFICANT; in other words, if it consists of enough transactions to allow us to determine with a high enough probability that the results at hand were the cause of a trader’s talent or skill instead of a product of chance or randomness alone. In general, more trades represent a more meaningful track record. By no means does this signify that active traders are superior than less active ones. But it does mean that unless a trader has enough trades under his belt, it becomes difficult to assess his abilities correctly (based on statistics).So how many trades constitute statistical significance, you ask? Even though this answer is complicated and depends on different factors for different traders, we prefer to analyze track records with at least 500 data points or trades (as previously mentioned on Step 2 above). Is this 500-milestone etched in stone? No it isn’t. It doesn’t mean that, on certain occasions, we won’t allow a trader with less trades to move on to the third phase or step in our program (see Step 3 below) – but to go out of our comfort zone, we normally have to be dealing with exceptional in-your-face-obvious talent.
- Number of months/years trading – Making sure a participant has a high enough number of trades is one good way to filter out lucky traders from the talent pool. But just because someone with a high frequency algorithm makes money by opening and closing 500 total EURUSD positions in a few days, it doesn’t mean that he or she is ready for prime time. Thinking otherwise is plain delusional.One of the advantages of sticking to traders with longer histories is that their performance records were generated throughout periods of diverse market behavior. No financial market, FX included, beats to the same drum every day. Each market goes through periods of prolonged trends, dry spells of low volatility and sideways price movement, and even periodic off-the-chart chaos. All of this often takes place in an unpredictable order. As a result, the longer a track record usually is, the greater the chance that the trader is better equipped to survive throughout changing market environments. For this reason, even though we may consider an emerging trader with only a few months of history and adequate number of trades who shows exceptional skill, we normally like to see at least 6 months of real, continuous history as a bare minimum in the emerging world of trading.
- What percentage return should a successful trader make? – Even though we have discussed so far that 500 trades and 6 months of trading are typically barebones minimums in our book when considering whether or not a currency trader is an acceptable candidate for a pro trading position, we have not mentioned anything about his returns.In reality, returns mean nothing if they are not compared to the “risk” that was taken to obtain them. In the alternative investment industry, it is said that returns should be “risk-adjusted.” Risk-adjusted is a fancy term that means combining the risk and rewards mathematically in a logical or meaningful way.There are different ways to account for risk when analyzing return and various ratios have been created for this purpose. One of the most meaningful ones takes a trader’s percentage return and divides it by the maximum drawdown (or worst percentage fluctuation in equity) a trader has experienced. This proportion is normally called the Calmar ratio.In the world of CTAs and money managers, a Calmar of 1 to 2 is considered good – and above 2, very good. It is also common for talented traders to have high Calmar ratios early in the careers and then slowly drop to the 1-2 range as they experience larger drawdowns or lower returns. Consequently, a return-to-max-dd ratio of 2 is the lowest that we will consider for an emerging trader (less than 2 years of history) that is trying to make it to the professional level (Step 3 above).
Example: To give you a numerical example, let’s say that a trader with a 50% return for a year applies to our Pro Trader program. Even though many investors consider 50% a very high return, by itself it means nothing. If this same trader experienced a maximum drawdown of 30% during that same 12-month span, his Calmar would be 1.67 (50% divided by 30%), which would be too low for our liking. A much more attractive option would be a trader who is returning 30% annually with a maximum drawdown of 10% (Calmar = 3).
- Trader’s Methodology – How you do what you do is important – Even though part of the Fast Track program involves equipping the novice trader with specific tools to analyze the market and find trading opportunities, every successful trader is different. How a beginner becomes successful trading the FX market is far from an exact science.Successful traders tend to evolve. The evolutionary process can be quite diverse and the trader’s methodology or strategy oftentimes morphs into something completely different by the time he or she becomes successful. But even though winning traders use many different strategies in their line of work, there are certain methods that make no sense whatsoever – no matter the level of trading experience at which they’re employed. These are strategies or methodologies that would prompt us to automatically reject any applicant to our Pro Trader program.Some of these nonsensical strategies include news trading, martingaling, most forms of pyramiding, holding on to losing positions far longer than is sensible in the hope of a rebound, etc. All strategies like these eventually lead to defeat, because their very natures make them unsustainable. They include trades with high maximum adverse excursion (MAE) profiles (which you can read about in this blog post) and/or much higher magnitudes of average losers than winners, which require an unsustainably high winning percentage (which is covered in this post). Despite what many inexperienced traders who have survived out of sheer luck seem to think, these strategies just don’t work over the long run. When trading becomes more about luck than skill and risk management, it’s time to do things differently. Consequently, when a candidate wants to manage money for us, a successful track record with an incorrect strategy will always be grounds for rejection.Even though we look at many factors in the trader recruitment process, the above are core ones. Please make sure that you at least meet the above requirements before you complete our Traders Wanted form (Step 3 above).
Do I Need Prior Trading Experience to Join?
No. The FastTrack program does not consist of first having to read a 500-page book on technical analysis, to then find out you’re more confused than when you started. The steps you need to follow are very specific (read them above) and the training tools are very practical and hands-on. This program is designed with “SPEED” in mind; cutting through all the trading clutter to get to an effective solution. Is it the only path to potential success? Of course not. There are many, but it is one that avoids sending you into a vortex of complications .
FastTrack places our traders on a specific “track” or “path.” At the beginning of the path is the complete novice – and at the finish line, the pro (see main image at the beginning of this page for a graphical depiction). Every trader starts at a specific point on the track (based on their experience and level of success) – FastTrack then accelerates that trader to the finish line.
How do You Make Money; What’s the Catch?
FastTrack is provided free of charge to our customers. We’re not here to sell you a $5,000 training course or seminar that doesn’t work (like many FX companies do).
Nevertheless, like every broker in any market, we are compensated from our customers’ transactions; in other words, we get paid regardless of how well customers do. But unlike every other broker that could care less about whether their clients make or lose money, our primary goal is to help as many Forex traders as possible become successful – AND also to provide trading career opportunities to those who do.
FastTrack participants can use the experience they will gain and the abilities they will develop as they wish: either for personal fulfillment or to trade professionally for our investors as Forex money/hedge fund managers or prop traders.
We are convinced that you will find the FastTrack program so incredibly beneficial, that you will remain a Forex Day Trading customer for life.
I am Already a Successful Trader. Does this Help Me?
Definitely. Fast Track can help SUCCESSFUL traders by opening their doors to a professional trading career. Why did we stress the word “successful?” Because it doesn’t mean what many traders think it means. That is why we clearly spelled out our minimum “success” requirements in the “Trader Success Requirements“ section earlier. If you are already a truly “successful” trader with good risk-adjusted returns, we can either give you the opportunity to trade the firm’s capital in a proprietary fashion, or trade our clients’ capital as a money or hedge fund manager.
Another way this program can help you is by making you a better trader. Some Forex traders believe that they are the Bruce Lees of the trading world. That is, until they hit their first big drawdown! The reality is that not all traders who think they’re great are actually good. There’s usually room for improvement, and FastTrack is designed to fill in that gap. With professional trading tools, an advanced mental tuning MP3, and a great signal generation and technical analysis suite, the path will be clearly laid out for you. Whether you’re just starting out or trying to become more successful, FastTrack can definitely help.
I’m Interested in trading for you. What’s Next?
Simply follow the 3 steps laid out at the beginning of this section and Godspeed to your new trading career!