VTP Stage 5 Returns – A Four-Week Introduction to Prop Firm Trading
Last weekend I was speaking at the London Prop Trading Expo, where I delivered a presentation titled Beyond Passing – The Trading Business You're Trying to Build.
It was an interesting experience, and one that reminded me just how much interest there continues to be in the prop firm industry. For traders who don't have substantial amounts of their own capital, the opportunity to access larger trading accounts through a prop firm is understandably attractive.
However, as with most things in trading, there's rather more to it than the initial attraction might suggest.
The experience in London got me thinking about VTP Stage 5 – Becoming a Funded Trader, a course I originally created in 2023. The industry has changed considerably since then, with new firms entering the market, different trading platforms becoming available, and an increasingly wide range of rules and commercial arrangements for traders to navigate.
I decided it was time to bring Stage 5 back, but rather than simply updating the original recordings, I thought it would be more interesting, and hopefully more useful, to combine the education with some practical experience.
Understanding the Prop Firm Industry
From 9 November to 4 December 2026, I'll be running a four-week VTP Stage 5 Prop Trading Experience.
The programme is intended as an introduction for traders who are interested in exploring the opportunities available through prop firms, but who may not yet fully understand how the industry operates.
We'll look at the different types of firms, how their challenges and evaluation processes work, and the rules and restrictions traders need to understand before committing their money.
We'll also consider some of the practical questions that I think traders should be asking. What are you actually purchasing when you sign up for a challenge? What happens if you breach the trading rules? How do the drawdown restrictions affect your approach to risk? And is your existing trading method suitable for the conditions being offered?
These are important considerations, particularly when you remember that prop firms are commercial businesses operating under their own terms and conditions.
The original Stage 5 recordings will provide the educational foundation, although some of the industry-specific information dates from 2023. We'll use the live sessions to explore how the industry has developed and what traders need to be aware of today.
Bringing the Education into the Trading Room
One of the things I've learned over more than twenty years of trading is that there's a considerable difference between understanding something in theory and having to deal with it in practice.
That's why I've decided to introduce live trading sessions into this version of Stage 5.
During the programme, I'll be running FX trading sessions on Tuesday mornings and indices trading sessions on Thursday afternoons, sharing my preparation, market analysis, trading decisions and approach to risk management.
I'll also be trading through my own CMC Funded account, giving participants an opportunity to see some of the practical considerations involved in operating within a prop firm's rules.
The emphasis won't be on any particular trading platform. Whether you're using MT5, TradingView or something else, the important lessons are about understanding the trading environment, managing risk and developing a sensible approach to the opportunities available.
And, of course, there will be occasions when things don't go according to plan.
Some sessions may be quiet because the market isn't offering anything particularly attractive. There will be losing trades, missed opportunities and probably a few mistakes along the way. After more than twenty years, I've certainly not managed to eliminate those from my own trading!
What matters is how we approach those situations, the decisions we make and what we learn from them.
The Importance of Preparation and Review
I've always believed that trading performance is about considerably more than finding a good entry on a chart.
Understanding your trading method is important, but so is knowing how much you're prepared to risk, recognising when market conditions don't suit your approach, and having the discipline to follow your own rules.
Those considerations become particularly relevant when you're trading within the restrictions imposed by a prop firm.
It's also why we'll have a trader review every Friday.
Rather than simply concentrating on whether individual trades made or lost money, we'll examine the decisions behind them, how risk was managed and whether the trading process was followed.
For traders who are relatively new to the prop firm industry, I think seeing that process in action will be just as useful as understanding the different challenge structures and account rules.
My intention isn't to persuade everyone that funded trading is the right route for them. It's to give participants enough understanding and practical exposure to make a more informed decision for themselves.
How the November Programme Will Work
The programme begins on Monday 9 November, when participants will have access to the original Stage 5 educational recordings and supporting resources.
Our first live group review takes place on Friday 13 November at 12:30 UK time.
For the following three weeks, we'll have:
Tuesdays, 08:30–10:00 UK: Live FX Trading
Thursdays, 15:15–16:45 UK: Live Indices Trading
Fridays, 12:30–13:30 UK: Trader Review
That provides ten live sessions and approximately thirteen hours of live trading, discussion and review across the programme.
You won't need to change your existing trading platform to participate. The objective is to understand the prop firm environment and observe the practical application of trading processes, rather than learn a particular piece of software.
Joining VTP Stage 5
VTP Stage 5 – November 2026 Prop Trading Experience
Dates: 9 November – 4 December 2026
Format: Four weeks of education, live FX and indices trading, and weekly trader reviews
Price: £147
You can find the full programme details and enrol here:
For those interested in exploring CMC Funded, you can also find its offering here (affiliate link):
I'm looking forward to bringing Stage 5 back. I think combining the original education with live trading will give participants a much better introduction to the realities of prop firm trading, and I'm sure we'll have a few interesting experiences along the way.
Paul Wallace
Founder – TradingBeliefs & Veterans Trader Project
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