“I Blew Up Three Retail Accounts”: Scope Markets SA CEO Shares Hard Trading Lessons at FMAS:25

Retail trading has surged in popularity worldwide,
attracting many with promises of quick profits, freedom, and powerful tools. However,
at FMAS:25, a session titled “The Badass Trader, Revisited: Trade Your Way to
Riches in 2025” offered a harsh truth about the realities of trading.

Robert Van Eyden, CEO of Scope Markets South Africa,
delivered a raw confession: he had blown up three trading accounts. “Not one,
not two—three,” he admitted, adding: “We blow up not because we don’t know
better, but because we ignore what we know.”

Funded Accounts: A Double-Edged Sword

He also discussed the rising interest in funded trading
accounts, calling them “leverage in disguise.” While they may offer access to
larger capital, they require the same discipline and consistency. His advice:
never risk more than 1–2% per trade, and always withdraw a portion of profits.
“Don’t get drunk on your own success.”

Supporting this caution, a
recent Swiset study of nearly 10,000 traders highlights the difficulty of
securing prop trading funding
. Only around 20% pass one-phase challenges,
with even fewer succeeding in two-phase formats.

South America leads in trader participation, particularly
Colombia, the US, and Brazil. Most traders opt for the popular $10,000
challenge. Despite the low success rates, many traders continue to try
repeatedly, averaging 1.6 challenges each, indicating strong and ongoing global
interest.

The Danger of Wanting to Be Right

Van Eyden warned that many traders are addicted to the
illusion of certainty. They ignore stop-losses, double down on bad trades, and
focus more on being right than making money. “Trading punishes that,” he
stated. He emphasized three key pillars for success: humility over hubris,
emotional discipline over ego, and process over prediction.

Why You Need a Trading Edge

He reminded the audience of the “90-90-90 rule”—90% of
traders lose 90% of their capital within 90 days. According to Van Eyden,
avoiding that fate requires a trading edge, which includes a repeatable method,
proper money management, and strong psychology. “Even a 90% win rate means
nothing if your losses are too large,” he said.

Van Eyden closed with a reminder that cuts to the core of
trading psychology: “You need to decide—do you want to be right, or do you want
to make money?” He summarized his talk with a final thought: “Trading is the
hardest easiest thing to do.”

Retail trading has surged in popularity worldwide,
attracting many with promises of quick profits, freedom, and powerful tools. However,
at FMAS:25, a session titled “The Badass Trader, Revisited: Trade Your Way to
Riches in 2025” offered a harsh truth about the realities of trading.

Robert Van Eyden, CEO of Scope Markets South Africa,
delivered a raw confession: he had blown up three trading accounts. “Not one,
not two—three,” he admitted, adding: “We blow up not because we don’t know
better, but because we ignore what we know.”

Funded Accounts: A Double-Edged Sword

He also discussed the rising interest in funded trading
accounts, calling them “leverage in disguise.” While they may offer access to
larger capital, they require the same discipline and consistency. His advice:
never risk more than 1–2% per trade, and always withdraw a portion of profits.
“Don’t get drunk on your own success.”

Supporting this caution, a
recent Swiset study of nearly 10,000 traders highlights the difficulty of
securing prop trading funding
. Only around 20% pass one-phase challenges,
with even fewer succeeding in two-phase formats.

South America leads in trader participation, particularly
Colombia, the US, and Brazil. Most traders opt for the popular $10,000
challenge. Despite the low success rates, many traders continue to try
repeatedly, averaging 1.6 challenges each, indicating strong and ongoing global
interest.

The Danger of Wanting to Be Right

Van Eyden warned that many traders are addicted to the
illusion of certainty. They ignore stop-losses, double down on bad trades, and
focus more on being right than making money. “Trading punishes that,” he
stated. He emphasized three key pillars for success: humility over hubris,
emotional discipline over ego, and process over prediction.

Why You Need a Trading Edge

He reminded the audience of the “90-90-90 rule”—90% of
traders lose 90% of their capital within 90 days. According to Van Eyden,
avoiding that fate requires a trading edge, which includes a repeatable method,
proper money management, and strong psychology. “Even a 90% win rate means
nothing if your losses are too large,” he said.

Van Eyden closed with a reminder that cuts to the core of
trading psychology: “You need to decide—do you want to be right, or do you want
to make money?” He summarized his talk with a final thought: “Trading is the
hardest easiest thing to do.”

This post is originally published on FINANCEMAGNATES.

  • Related Posts

    Interactive Brokers Rolls Out Mobile App to Teach Stocks, Options, Futures, and Investing Strategy

    Interactive Brokers has released a free microlearning app aimed at educating beginner investors through short, interactive lessons delivered via mobile devices. The app, called IBKR InvestMentor, is currently available on…

    FCA Applies New Tech to Handle 3,200% More Financial Promotions Reviewed in Three Years

    The Financial Conduct Authority used data and technology to tackle unauthorized financial promotions, suspending or blocking over 1,600 websites and removing more than 50 apps from major platforms like Google…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Why Ray Dalio Economic Predictions Keep Getting It Wrong?

    • July 10, 2025
    Why Ray Dalio Economic Predictions Keep Getting It Wrong?

    Interactive Brokers Rolls Out Mobile App to Teach Stocks, Options, Futures, and Investing Strategy

    • July 10, 2025
    Interactive Brokers Rolls Out Mobile App to Teach Stocks, Options, Futures, and Investing Strategy

    High-Stakes Market Investing: How to Build Wealth Today?

    • July 10, 2025
    High-Stakes Market Investing: How to Build Wealth Today?

    FCA Applies New Tech to Handle 3,200% More Financial Promotions Reviewed in Three Years

    • July 10, 2025
    FCA Applies New Tech to Handle 3,200% More Financial Promotions Reviewed in Three Years