To successfully pass the evaluation, you must complete the following three goals:
- 1. Trade at least 8 days
A trading day starts at 6PM EST and ends at 5PM EST the following day
- 2. Reach your profit target
- 3. Have consistent profits.
To make this easy, just never close the day with profits over 30% of your target.
NOTE: This will not fail your account.
25K Stay under $450/day 50K Stay under $900/day 100K Stay under $1,800/day
If you close a single day with a profit exceeding 30% of your evaluation target, you'll just need to reach a higher evaluation target so that big day is under 30%.
We determine your new target with the formula: (highest single day / 30 * 100 = new target)
For example: You reach 1000 in one day on a 50K account: 1000 /30 * 100 = $3333 is your new target
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
You can't use too many. Our system limits your max contracts and are safely rejected.
- 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.