Step-by-Step Setup Guide for Your First Funded Account

Congratulations on passing your Lucid Trading evaluation! Starting your funded account properly is crucial to maintain discipline, protect your capital, and build long-term success. This detailed step-by-step guide will help you set up your first funded account with confidence.

Step 1: Complete All Onboarding Requirements

Before you begin live trading, Lucid Trading may require you to complete several onboarding steps such as:

Verifying your identity (KYC) through documents like passport or drivers license.
Signing funding agreements and contracts.
Setting up payment and payout methods for withdrawals.

Be thorough and prompt with these tasks to avoid delays.

Step 2: Download and Configure the Trading Platform

Lucid Trading commonly uses platforms like NinjaTrader or Rithmic. Follow these steps:

Download and install the platform recommended by Lucid Trading.
Configure data feeds to receive live market data.
Set up chart templates, indicators, and order types you will use.
Test all functions in simulation mode if available.

Getting familiar with the platforms interface and tools before live trading reduces mistakes.

Step 3: Understand Funded Account Rules

Your funded account may have slightly different rules from the evaluation. Carefully review:

Profit splits and payout schedules.
Scaling plans or requirements to increase capital allocation.
Ongoing risk management rules such as daily max loss and drawdown limits.

Print the rulebook or keep it open in your trading area for quick reference.

Step 4: Set Up Risk Management Parameters

Implement strict risk controls from the start:

Use stop-loss orders on every trade.
Determine your max risk per trade based on account size and rules.
Set alerts for drawdown or daily loss limits to avoid breaches.

Remember, protecting your capital is more important than chasing profits.

Step 5: Develop a Consistent Trading Routine

Successful funded traders follow a daily routine that includes:

Reviewing market news and conditions before trading.
Planning trades and setups according to your strategy.
Journaling all trades with notes on rationale and emotions.
Analyzing results and adjusting plans as needed.

Consistency and discipline underpin long-term profitability.

Step 6: Monitor Your Progress and Stay Compliant

Use Lucid Tradings dashboard tools to:

Track your profit and loss in real-time.
Watch for rule compliance warnings.
Submit withdrawal requests as allowed.
Engage with Lucid support for any questions or issues.

Final Advice

Starting your funded account on the right foot will set the stage for sustainable success. Stick to your trading plan, respect all rules, and continually educate yourself to improve. For ongoing support and updates, rely on resources like Prop Firm Press and the Lucid Trading community.