In our challenge, traders can choose between the traditional two-phase evaluation or the more direct one-phase evaluation plan.
For the 2-Step evaluation:
A trader has no maximum number of days to achieve the 8% profit target. The evaluation method is split into two phases.
Phase 1: The trader must ensure they do not exceed a daily downside of 5% of the opening day's equity or balance, whichever is higher, at any point during the trading session. Furthermore, the trader should not lose more than 12% of the account's initial value in total equity. While there's no set duration, the trader must engage in trading on a minimum of 1 trading day.
Upon successfully completing Phase 1, the trader can immediately proceed to Phase 2 of the challenge.
Phase 2: The trader targets a 5% profit in this phase, adhering to the same daily and maximum drawdown restrictions and minimum trading days outlined in Phase 1.
For the 1-Step evaluation:
Traders seeking a swifter approach can opt for the 1 Phase Evaluation plan. They have no maximum number of days to hit a 10% profit target. The daily loss should not exceed 4% of the day's opening equity or balance, whichever is higher. The maximum total equity loss permitted is 8%.
Whether opting for the traditional 2-step or 1-step evaluation, traders will participate in a live setting after passing Phase 2 for the traditional route or immediately after passing the 1-step evaluation plan.
Any violation of the rules above will lead to the termination of the trading account, making the trader ineligible to progress in the program with that specific account. However, traders are always welcome to restart their journey by enrolling in the program with a new trading account.