Digital Social Hour - 4M Funding in Forex: How I Became the Top Trader | Bernd Skorupinski DSH #559
Episode Date: August 2, 2024🔥 Ever wondered how someone becomes the top trader in the world? Look no further! In our latest episode of the Digital Social Hour with Sean Kelly, we dive deep into the thrilling journey of Bernd ...Skorupinski, who secured a whopping $4M funding in Forex! 🤯 Join us as Bernd spills the beans on how he conquered leaderboards, managed a life-changing profit split, and became the all-time record holder for the biggest Forex profit! 📈💸 From his humble beginnings in Dubai to mastering the art of swing trading, Bernd shares his secrets to success, risk management tips, and how to spot scams in the trading world. 🧐 Tune in now to uncover: - How Bernd became the top trader and secured $4M funding in Forex - The truth behind profit splits and prop firms - Expert insights on risk management and trading consistency - Bernd's transparent trading journey and his unique "set and forget" approach Don't miss out on this packed episode full of valuable insights and real talk about the Forex world. Watch now and subscribe for more insider secrets. 📺 Hit that subscribe button and stay tuned for more eye-opening stories on the Digital Social Hour with Sean Kelly! 🚀 Join the conversation and be part of our growing community! 🌟 Drop your thoughts in the comments below and let us know what you think. Let's dive into the world of Forex together! 💬 #DigitalSocialHour #SeanKelly #Podcast #ApplePodcasts #Spotify #BerndSkorupinski #Forex #TradingSecrets #FinancialFreedom #TopTrader #ForexFunding #TradingJourney #SetAndForget #RiskManagement Watch now and subscribe! 🎥✨ #4MFunding #FundedTrader #ForexProfits #ForexPodcast #ForexJourney CHAPTERS: 00:00 - Intro 00:44 - Bernd's Journey to Becoming a Trader 04:06 - Target Percentage Return for Traders 04:58 - Starting Capital for Trading 05:40 - Bernd's $4 Million Funding 07:14 - Prop Firm Profits from Funding Traders 07:47 - Risk Management for High Volume Trading 10:50 - Will AI Replace Traders 12:16 - Trading During Recessions 13:16 - Stock Market Crash Predictions 17:40 - Forex Scammers 18:00 - Transparent Trading Challenge 19:20 - Transparency in the Trading Industry 22:33 - Time Commitment for Successful Trading 24:18 - Bernd's Long Term Trading Goals 26:23 - Where to Find Biafnik APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: Jenna@DigitalSocialHour.com GUEST: Bernd Skorupinski https://www.instagram.com/bernd_skorupinski/ https://www.youtube.com/@berndskorupinski https://x.com/BerndSko SPONSORS: Deposyt Payment Processing: https://www.deposyt.com/seankelly LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit podcastchoices.com/adchoices
Transcript
Discussion (0)
And to get to number one, what do you have to do to reach that status?
Is it based off your...
Based off, like, they have leaderboards.
It's based off the profit, or how does that...
Yeah, based on the profit, exactly.
So they just gave you $4 million to trade with?
Well, with them, I trade $400,000, but in total, throughout multiple prop firms, actually.
Is it profit split? How does that work?
Yes, exactly. There's a profit split.
So the profit split is even, like, in favor of the trader.
It starts at usually 80% for the trader.
Yes.
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All right, guys. All the way from Dubai, we got Bernd Skorupinski here today. Thanks for coming on, man. the team truly means a lot thank you guys for supporting and here's the episode all right guys
all the way from dubai we got burns gorupinski here today thanks for coming on man thank you
pronounced properly thank you so much i tried man it's a hard name it's not easy yeah it's not easy
that's a long flight man 16 hours yes and i'm pretty jet lagged it's crazy i arrived already
three days ago otherwise i would have not managed it geez When did you move out there? 2009.
So I live in Dubai since now.
Yes, very early actually.
It was almost desperate.
I mean, yeah.
Yeah, I feel like it's really evolved the past few years.
A lot of people are moving out.
Crazy, yeah, yeah.
I've seen it grow.
Like it's insane.
Did you move out of there
because of your forex gains?
No, actually.
I don't have...
My background is different.
When I moved out there, I came right after my studies.
Actually, I studied also at UCSB in Santa Barbara.
So it's not my first time in California.
So right after my studies, I moved to Dubai and I got a corporate job, a normal corporate job in the automotive sector.
And then basically after a while, I realized that the corporate world is not for me i started trading and everything else is history did you start with
stocks forex actually yes so i'm now full-time trading actually since 10 years and trading in
total i'm trade um 12 years wow so 10 years full-time i've i'm 40 years old i have a nine
year old daughter i'm providing for my family since 10 years and so i started actually trading
stocks and then i moved into futures.
And then just four years ago into Forex.
So that's why I consider myself a multi-asset trader trading all assets.
And what was the first profitable year?
How long did it take?
It was, so my progress was quite smooth because I learned from some form of floor traders
from the Chicago Mercantile Exchange and also New York Stock Exchange.
Wow.
So that's why my progress was rather smooth.
And I would say compared to people today was also rather fast.
So it took me like a year or so to be like really consistent in my approach.
That's pretty quick.
Yes, it's pretty quick.
So that's why I always say like,
I don't want people to see me as a benchmark
because I also feel like it was rather quick.
But obviously, it's also like you evolved as a trader.
Now, I'm a much better trader than like 10 years ago.
Yeah, yeah.
So you had good connections.
And is your strategy to be in and out within the same day?
No, no.
So apparently, people like to classify themselves when they are traders, right?
You have scalpers.
You have day traders.
And I would consider myself actually a swing trader.
So I call my approach set and forget and get a life.
So set and forget and get a life.
Because my execution time frame is usually daily time frame.
So I stay in trades for like weeks.
Wow.
So this gives me also the time freedom that everybody wants, right?
Otherwise, you're still...
I'm coming from the corporate world, as I said.
The reason why I left corporate world,
because I didn't want to be a slave of my desk anymore.
But if you're like a scalper or a day trader, you're sitting at your desk every day as well,
and you don't have the time freedom.
And the only reason why I quit my corporate job was I wanted to have the time freedom.
So that's why I moved towards that kind of swing trading approach.
A lot of anxiety in day trading.
Yeah, crazy.
And it's hard to make it work consistently, right? In
trading, it's all about being consistent. Everybody can make money in trading. It's like a 50-50
chance. I mean, I can make money by closing my eyes and just pressing the buy or sell button.
So you make money eventually, but it's all about consistency month over month over month and then
years over years. And this is hard to pull off with day trading or even scalping.
Right.
And what percentage return do you aim for on a yearly basis?
That's a good question.
So as a professional trader, you don't think in returns, actually.
Oh, wow.
Yeah.
This is, by the way, also what I would say, how you can expose scammers
because they talk in percentage gains.
But at the end of the day, this doesn mean anything i talk in risk to reward because now if i tell you i make 10 i
make 20 i make 100 what does it mean to you nothing because what is really more important
is the risk risk factor behind it i could say i make 100 but i risk 200 so i'm a very bad risk
manager right at the end of the day,
because I risked more than I made.
Leverage.
Yes, exactly.
I risked more than I made eventually.
So that's why if I tell you just a percentage gain,
it doesn't mean anything because you don't know the risk factor.
Yeah, that makes sense.
And how much capital did you start with?
Because a lot of guys now are trying to start with a few hundred thousand.
Is that even possible in your opinion?
So in the past, I would have said to make money in trading you need money right um i started
off with a fifty thousand dollar account in the futures market but nowadays you have all these
prop firms right where you can trade um where you can get funded by firms, a very high amount, up to $400,000, $500,000.
And so nowadays, you only need the skill.
You only need to develop the skill in trading,
and then you can get funded through these prop firms,
and then you can get funded even like seven figures.
Wow.
Yeah.
So I'm funded actually $4 million.
Holy crap.
In prop firm capital, and I'm also actually $4 million. Holy crap. In PropFirm Capital.
And I'm also the all-time record holder for the biggest Forex PropFirm in the world.
Wow.
That's insane.
And to get to number one,
what do you have to do to reach that status?
Is it based off your...
Based off like they have leaderboards
and I have like 120 leaderboard appearances
in like only one and a half years.
Damn.
And that's based off the... It's already an all-time record.
It's based off the profit or how does that...
Yeah, based on the profit, exactly.
Holy crap.
Yeah.
So they just gave you 4 million to trade with.
Well, with them, I trade 400,000,
but in total throughout multiple prop firms, actually.
So what you have to do, basically,
this is quite interesting for everybody who says
they are lacking in capital
that as i just said you only need to develop skill nowadays and then you can make these tests
through these prop firms it's basically what they call it a challenge so basically you trade in a
real market environment but with demo money and if you pass these challenges, then you can get funded with these prop firms. So these prop firms, they offer challenges.
Like, for instance, FTMO, if you want to get funded $200,000, you basically buy one of these challenges.
So for these challenges, you have to pay money, obviously.
It's like a driver's license at the end of the day.
So for a $200,000 account, you pay $1,000 for that test.
If you pass that test, then that challenge, then you get funded $200,000 account, you pay $1,000 for that test. If you pass that test, then that challenge,
then you get funded $200,000.
Wow.
And then you can do this as multiple prop firms
and then you can get funded $2 million.
That is crazy.
And it's a, is a profit split?
How does that work?
Yes, exactly.
There's a profit split.
So the profit split is even like in favor of the trader.
It starts at usually 80% for the trader.
Yes, it's amazing.
That's crazy.
So it's one prop firm actually that I'm funded.
So it's one prop firm I'm funded like $2 million.
My profit split is 100%.
What?
Yes, exactly.
So how do they make money?
Exactly, how do they make money?
So what happens in the back end,
they basically link all their own accounts to my account
and basically just copy my trades.
And with that $2 million account,
they basically just pay me out 100%.
Holy crap.
Exactly.
So they're probably copying it with millions. Potentially whatever they have exactly yes and how's the liquidity like
because you're getting to a point now where you're trading millions a day right yes exactly millions
a day well i'm swing trading so but i have like millions so what what i would do is basically what
i do is like i take on that four million dollar account, right? Overall, I take like 1% risk,
which is like $40,000 per trade, right?
And I aim for like a monthly return.
So my risk factor is 1%.
And I aim for like profits 2% per month.
Oh, so one to two ratio.
Yeah, exactly.
So one to two risk to reward ratio, basically.
Okay, so it's actually not that risky.
Well, yes, exactly.
So as a trader, you should always,
when you risk one, whatever your risk factor is, right? In this case, for me, it's $40,000. You should always aim for two, three or four, always more than one. Otherwise, you cannot survive as a trader.
Well, when people think of Forex, they think you can you are, right? If you don't manage your risk properly, then, of course, it's risky.
But, in fact, if you do it professionally, it's a business that is, I think, way less risky than any physical business because it's always calculated risk.
It's always calculated risk.
You determine what your risk factor is.
I say my risk factor is $1,000, $2,000.
I determine that.
And it's the maximum I can lose as a professional one.
But yeah, of course.
But if you're like a newbie, you just open up a brokerage account.
That's where these people wipe out their accounts.
But I would not consider them trader.
That's a problem.
I would consider them market participants.
Yeah, that's more of a problem.
Because I consider myself a trader, right?
And then you have somebody just open up a brokerage account.
They call themselves a trader.
So there's a big gap between me and somebody who's a newbie.
What percentage of traders are profitable, you think?
Well, so broker firms, they have to give you kind of their statistics.
And it's roughly what they are saying is that 80% to 90% are not profitable.
Wow.
Right?
Crazy. It's only 10% that are profitable. Wow. Right? Crazy.
So it's only 10% that are profitable.
That's high, but it's probably similar with stocks too.
Well, it's similar just in general trading, right?
Because it's quite interesting because in trading,
it's quite interesting because trading is another profession,
like any other profession, like becoming a doctor,
becoming a lawyer, becoming a pilot, becoming an engineer.
It's just another profession.
And there's a process to basically earn that profession, right?
To become proficient in something.
But when it comes to trading, people just basically think it's completely different.
They open up a brokerage account and then they wipe out their account because they're not skilled, right?
It's like I would drive now a Ferrari without having a driver's license, never driven a Ferrari.
What do you think is going to happen, right?
I'm going to crash the car eventually.
And that's why so many people blow up their accounts
because they're not skilled.
Discipline.
This comes on top, right?
All these characteristics,
discipline,
following your rules,
perseverance, all these kind of things
comes on top. Being objective, controlling your emotions.
Objective, yeah, or robotic in your approach
because if you're not objective,
then you cannot become consistent.
One goes with another.
Right.
Do you ever worry about AI replacing what you're doing?
Not really.
I think actually it's always going to be a hybrid model.
AI can give suggestions,
but it's always like the human
who has to execute at the end of the day do you
use any ai to research or anything well we developed our own tools that i call like hybrid ai
yeah in a way um where we basically ask the system give us the best trades in a specific month in a
specific time frame on a specific day including holding period percentage risk and so on and so
forth and but it's still like for us traders to execute and at the end of the day yeah that's specific day, including holding period, percentage risk, and so on and so forth.
But it's still like for us traders to execute at the end of the day.
Yeah, that's interesting.
Because I've seen some people run ads on their ad, traders on Instagram ads, but I don't know if it's legit.
No, it's usually not legit.
I mean, again, this is like that notion that people have that, hey, there are people out
there that have these magic, let's call them bots,
right?
Selling them for 50 bucks that you just have to press the button and magically it's going
to make you consistent income, right?
I always tell people, use a little bit of common sense.
How does it sound to you, right?
You don't have skill at all.
You buy something for 50 bucks where you just have to press the button and then magically
it's going to make you money forever.
Like, how does this sound to you?
Right.
Like, ridiculous, right? Yeah, it's going to make you money forever. Like, how does this sound to you? Right. Like, ridiculous.
Yeah, it's ridiculous.
But people, that's why they want to believe these, you know,
that it's for them like getting out of the, you know,
rat race basically.
And that's why they believe in these things.
But yes, it's just nonsense.
Have you been able to trade with similar results during recessions?
Yeah.
During recessions, actually, you make,
I would say during COVID,
this was like one of my best years. Wow. Yeah, of course., actually, you make, I would say, during COVID, this was like one of my best years.
Yeah, of course, because in trading, obviously, you can make money on both sides.
Actually, I called, and it's on my Instagram.
So everything I do, I make very transparent.
Yeah.
So back then we called the market crash.
Really?
We're basically selling short, right?
You can make money on both sides, right?
Buying into the market, but also selling into the market, right?
So,
and there are two emotions in the market.
There's fear and greed.
So,
obviously fear
is a way stronger emotion.
So, when the market
is dropping,
the market drops way quicker
so you can make money faster
if you know how to do it.
Right.
That makes sense.
Speaking of crash,
guys like Robert Kiyosaki
and Michael Burry
are calling a stock crash this year, right?
Well, yeah.
It's quite interesting because they're calling it every year.
And so if you're calling it every year, you might be right once, right?
And Michael Burry was right 2008.
But ever since, he's calling it every year and it's never right again.
And actually, you know, on my YouTube channel, I called him out even last year in in in october where he actually
bet 1.6 billion dollars against the market well i said the market's gonna make new all-time highs
he he well i said basically he will not be right and he doesn't know what he's doing at this stage
right so damn so he lost it all i think he lost it all but because he was wrong and the market
made new all-time highs holy crap so and And again, this year as well, there's something called,
and this is very powerful, presidential election cycle.
And obviously, the U.S. presidential election plays a crucial role
on how the stock market behaves in the market.
And this presidential election cycle is four years and
every sub cycle is basically one year so it starts with pre-election cycle then you have election
cycle then you have post-election cycle then you have midterm cycle then again everything starts
again pre-election and so on and this year obviously 2024 we are in election cycle right
so in election cycle it's quite interesting if you do like just statistics
backtesting in the past um in the past 15 years during that election year in the past 50 50 years
only during that election year you have an average return of roughly only if you had bought during
election year of roughly eight to nine percent and the only dropped, didn't make a new all-time high,
three out of 12 times.
So 12 times it made a new high, three times it didn't make a new high.
So just by that statistics alone,
your chances that if you just buy into election year is 75%.
Holy crap.
Why would you bet against that statistic?
Yeah, good odds.
And and it's good odds.
And by the way, it's also statistically proven it because people are, you know, commenting
what's happening when Trump is going to be president.
What happens if Biden gets reelected?
Statistically, it doesn't make any difference whether Trump, Biden, Democrat, Republican,
Republican,
or even, I don't know,
Trey Rock Johnson becomes president.
Statistically, during election year,
the market makes new all-time highs.
Wow, that's surprising
because everyone's saying Trump will skyrocket the economy
if he gets elected and then if Biden does, he'll crash.
Yeah, exactly.
But that's all like, you know, just,
this is just an opinion.
It's very subjective, right?
So it's again, we just talked about you have to be objective.
And the data, statistical data just speaks volume by itself.
Yeah.
So you don't even look at the news to base your trades?
I couldn't care less.
Wow.
Because a lot of people look at the news.
Yes.
But I think I firmly believe these people cannot be consistent.
Again, another sign for me to call out scammers when like people are so subjected to news and base their decision on news.
You cannot be consistent.
How?
Because it's very subjective how you interpret these news.
That's true.
Plus, a lot of the news are paid for by certain people.
Exactly right.
You could go down this rabbit hole like talking about conspiracy theories.
But it's true, right?
It's true, right?
They are paid by certain agencies and, you know, certain companies and they control the news, right?
It's just like, for instance, yeah, all these big corporations, right?
Yeah, it's refreshing to see someone like you be the face of the Forex stuff
because there's a lot of Forex scammers with Lambos and other cars and watches.
Yeah, it's crazy.
So I'm actually pretty new to social media in a way
because I only opened my YouTube channel like a little bit more than a year ago and um well my public
appearance basically was driven by my f team all-time record uh can't deny those results you
cannot deny these results right and i and but again when it comes to trading the problem is
that there is no again this is the only profession where you don't have any accreditation system, where you don't have any certification system.
Anybody can call themselves a trader.
Sean, you could call yourself a trader tomorrow.
No license needed.
No license needed.
You just read a trading book and you can articulate yourself well and just call yourself a trader and then you're selling X, Y, Z to people.
Courses, yeah.
Courses and stuff.
So that's a big problem in this business.
And obviously that's why people are taking advantage of that.
And it's so cringe to me, to be honest,
that this business, Forex especially,
has such a bad reputation.
It's a terrible reputation.
It's terrible, right?
I'm very proud of being a trader,
but I'm kind of ashamed for this kind of business
because I have to justify for all these scammers as well.
And, you know, like always these, you know, pretending, you know, having these expensive lifestyles and they made all this money through like Forex trading.
It's just pure nonsense, right?
Again, like if you see somebody like flashing Lumbo's, flashing, you know, expensive watches, you know, like showcasing, you know, the pile of money on Instagram.
This is so embarrassing.
These are all scammers.
Yeah.
I get a lot of them apply on the show and I turn most of them down.
Yeah, it's horrible.
Yeah.
The reason I wanted to do this with you is because your results, you can't deny them.
You're number one on the leaderboard.
I'm number one like FTMO, all-time record holder, right?
So everything I do is transparent i right now by the way also
do like we just talked about these challenges that you can do right to get like funded yeah
so what i'm doing now transparently on youtube basically a 2.1 million dollar challenge across
like six prop firms and i'm telling people like what trades to take and i'm like calling out all
these trades in advance basically just for
people to see again another layer of transparency so I see me basically my goal is that I want to
I mean it sounds a little bit corny but change the kind of space a little bit you know to better and
and show people you know what it takes to be transparent and tell also people hey setting
a new standard in the business.
You only trust somebody because I also run a licensed investment consultancy in Dubai.
And that licensed investment consultancy that is controlled by the UOE authority, we basically offer trading education.
So for me, it's just common sense that everything I do is very transparent, right?
And so, yes, I want to set a standard in the industry and show people really
okay you need to do this to showcase transparency and if you if you're not transparent and most
and you offer something right the course or whatever like some signals telegram group access
whatever it is signals right that's how they call it anyway if you if you if you offer that but you
cannot show transparency in any kind of way right then most probably and very likely you're a scammer.
People have two single chats.
So they'll have one chat that says one thing and another chat says the other.
Yeah.
Crazy, right?
Yeah.
Even faking like statements and stuff.
Yeah, yeah.
Something that actually also got very viral that is like one trader, right, very big trader in the space at this time was actually um faking my certificate
ftmo certificates and publishing on on his social media and uh pretending it's his uh certificate
but you know what's funny actually you know what he did he removed my name on the certificate
but you know what you don't know is on these certificates they're qr codes so if you scan
these qr codes you get to the real certificate.
So he was actually posting it as a story.
And then people was like, of course, you know, scanning, you know,
wanted to see like the certificate said like he made like in one month,
like 60, $70,000, but then it had this QR code.
So people were like scanning that QR code through his story
and then it showed my name and then they were forwarding it to me.
And, you know, funnily,ily I mean at the end of the day this was good PR to me because it was a big guy in like Miami you know it sounds like Miami yeah it's exactly that's why you know funnily I call
them you know these all these scammers like to me these are like the Miami boys because most of them
like I haven't met a legit one in Miami I i'll tell you that miami in general yeah it's horrible
yes exactly it's full of scams and he was like one of the big traders like he's even like organizing
one of the the summits there the fx summit in miami the fx summits in dubai is even like the
main organizer yes exactly people look up to that yeah that's crazy exactly it's crazy so yeah you
need to you need to become the face of this shit man i would i would love to yes yeah i mean your youtube's doing very well it's doing yeah it's
thanks yeah for real because the fact i didn't know it was only a year old but you already have
old yeah i started in march last year and like it's growing already 40 000 subs right actually
66 oh yeah popping off my man growing nicely yes you're about to get that 100k black you know it's
funny because my daughter, she's nine,
and all she can talk about is like her role model nowadays
are not like actually YouTubers, right?
She's watching, you know, all the YouTube channels
that you can imagine, MrBeast and stuff.
And she says like, even when I started
and I had like 100 subscribers, she was like,
when do you get that, you know, that play button?
I want to have that play button in my room. I said i have only 100 subscribers but once i get it you will you will
i'll show you some stuff with youtube ads you'll grow quick yeah i hit a million in a year
i would love to i got you i got you um so how much time are you doing this seven days a week
how many hours a day on average so yes since um i preach the set and forget and get a life approach, right?
The swing trading approach where I have all the time freedom in the world.
So my process looks like basically that during the weekend, I do my analysis during like all the markets that I trade.
Let's say it's 40 markets.
I go through them.
I do my analysis.
The markets that are setting up for the week ahead, I put in a watch list.
On Monday, I might place the orders already.
And then during the week, I need maybe 15 minutes, 30 minutes max a day to basically.
That's it?
That's my actual trading work, right?
15 to 30 minutes a day, like literally, yes.
And then on the weekend, I do all the prep work.
And that's why, you know, I always tell people,
because it's also quite interesting.
If you look at Instagram, for instance,
people don't say they are traders.
They're either saying, because it might sound cool,
they're day traders, right?
They're not saying they're traders.
No, they have to say, like, specifically,
they are scalpers or they're day traders, right?
Nobody's saying they're a swing trader
because it might not sound cool to them.
I don't know.
I haven't seen that much.
Exactly, because that notion of, you know,
having seven screens on the wall, you know,
and being, like being active every day,
but that's not the real trading.
And you have to make it work for everyone out there.
Nobody is born as a trader and everybody has a corporate job, a nine-to-five grind.
They have families, they have social obligations,
they have kids.
How could they possibly incorporate that kind of day trading approach, right?
It doesn't fit into their schedule.
So you have to make it work for the mainstream as well.
And the mainstream can only make it work
if they have kind of that swing trading approach, right?
To kind of incorporate it in their lifestyle.
Have you had to change your
styles over the recent years or is it pretty consistent it's pretty consistent to be honest
i mean i started off as well as more like day trading because day trading has the advantage
that you get immediate response but then you know slowly when you evolve you go to higher time frames
basically and then you if you if you if you then get consistent with higher timeframe trading,
basically daily execution timeframe, and you see like the benefits of time freedom and, you know,
that you're not clued to your screen and also like mentally it's way easier, right?
Then it's like the benefits outweigh. Yeah, absolutely. Any long-term goals? Do you want to start your own prop firm, Wunder?
Oh, that's maybe.
I cannot tease that yet,
but we are looking into that.
Definitely.
I heard they make a ton of money.
Most people fail the test, right?
That's how they make the most money.
Exactly.
So why do most people fail the test?
Because for them,
it's like going into the casino, right?
Yeah.
Sitting in front of the slot machine, buying test after test after test.
But again, these are not traders.
These are just market participants, right?
They are not skilled at the end of the day.
They're waiting for a lucky shot.
For them, it's like a lottery ticket, right?
Buying a challenge, hopefully, you know, passing that challenge somehow
and then getting a super high payout.
And that's basically their approach.
And that's obviously the majority of people.
And that's why the prop firms make so much money
on these failing people
because that's the majority is just not skilled, right?
And apparently they don't want to get skilled.
Otherwise they would not do it.
I don't know.
Well, it takes time.
People aren't willing to spend a year studying.
And that's the point.
It's like, again, you need to get into that business mindset,
entrepreneurial mindset.
If you start
basically with trading you're at the end of the day you're an entrepreneur right you're starting
your own business so it's a startup in a way so to make this successful that startup that your
business that takes time like any other business again it takes time like any other business so
two three years is nothing but people they don't want to go through that you know um so that time
period they want to have to that's what i, they don't want to go through that, you know, through that time period.
They want to have to, that's what I see.
They want to have to success tomorrow.
Absolutely.
Bernd, where can people find you
and learn more about Forex, man?
So they can find me on all social media channels,
basically on YouTube, Bernd Skorupinski,
Instagram, Bernd Skorupinski,
Twitter, ex, Bernd Skorupinski.
Perfect. We'll link it below.
Thanks for coming on, man.
Thank you so much.
That was very educational.
Yeah. Thanks for watching, guys guys check out the links below peace
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