10% Profit in 30 days
Minimum 10 days of trading
Max Daily Loss/Drawdown (Equity) of 5%
Max Overall Loss of 12%
What is daily loss/drawdown and how is it calculated?
The daily loss is the maximum amount that can be lost during the challenge. It is calculated as a percentage by using the below:
((Current equity – End of previous day equity) / Previous equity) x 100
Kindly note that your daily loss resets at midnight TradeLocker server time. Due to daylight saving time adjustments, the TradeLocker server time can vary between GMT+2 and GMT+3.The top left corner of your TradeLocker account displays the current TradeLocker server time for your reference.
Keep in mind that failure to keep up with the daily and overall requirements will mean that you will need to purchase a new Funded account to keep partaking in the challenge.
There is currently no limit on the number of times you can participate.
You are also free to enter the challenge with multiple accounts.
After completing both steps successfully, a team of dedicated trading experts will evaluate your account in accordance with your trading strategy and consistency, in relation to our risk appetite, and award the funded accounts accordingly.
The factors below are taken into consideration during the evaluation. Complying with the points below will put you in a greater chance to be granted a funded account:
- The profit is ideally split up evenly across the challenge days. The maximum amount of profits made in a single day should not exceed 25-30% of the overall profits.
- Assets traded, the size of the trades, and the time and date of the trades. It is also essential to consider one’s adaptability to news and other market conditions.
- The appropriate scaling of trades.
- The appropriate use of tools such as stop loss and take profits.
Following the steps above will increase your chances of being awarded a funded trading account, or being offered a chance for further assessments through stage 3 of verification.