General
Tool Setup
Common Problems
Evaluations
Evaluation Rules
To successfully pass the evaluation, you must complete the following three goals:
- 1. Trade at least 8 days (3 days for static)
A trading day starts at 6PM EST and ends at 5PM EST the following day
- 2. Reach your profit target
- 3. Show consistency in attaining profits. UPDATED
We now calculate consistency differently than all of the other prop firms.
If you happen to go over the max consistency amount of the original target in a single trading day, we only add that amount to your adjusted profit target.
So what does that mean?
- You are no longer over-penalized for going over the max consistency amount in a single trading day.
- Regardless of how much you go over the max, you are only increasing your target by that excess amount.
- There is no longer any reason to cut your trade early or lose money for the sake of attaining consistency.
Explain more
There are only two ways to fail the evaluation:
- 1. Fall below the minimum balance (trailing)
The minimum trailing balance increases with your highest unrealized balance. It increases with profits, but it does not decrease with losses.
For example, the 50K evaluation starts with a 48K minimum balance (trailing by $2000).
If any trade reached $50,750 at any point, your new minimum balance would be $48,750.
If a subsequent trade closed back at $50,300, then your minimum balance would still be $48,750.If at any point your balance falls to your minimum balance, the evaluation has failed.
You can monitor your minimum trailing balance in realtime with Rithmic by using the "Auto Liquidate Threshold Value" in RTrader Pro.
You can monitor your minimum trailing balance in realtime with Tradovate by using the "Drawdown Auto Liq" column of the Accounts tab.
- 2. Fall below the daily unrealized loss limit in a single trading day.
The daily loss limit is based on your starting balance at 6PM EST. If you hit the daily loss limit during the evaluation, it fails the account. But this rule is removed after you pass the evaluation.
Things that DONT fail your account
- Trading news events
- Using too many contracts
We will not fail you for using too many contracts and we are able to automatically limit limit your max size if you are trading one product. But if you find a way to use more contracts than your terms, we will liquidate and/or restart your account and/or deny brokerage entry entirely when our system detects it.
Please do not exploit the system. - Trade the wrong hours
Our system attempts to limit when you can trade and will auto-liquidate around 15 minutes before markets close. This is not a guarantee of liquidation.
NOTE: Although our system will do it's best to liquidate trades before the close of market. We still need you to take responsibility for closing your trades.
The system is not perfect. This could result in substantial loss in your account which could then end up being a failure. Please be a responsible trader.