Understanding a proprietary firm’s trading rules and objectives is essential for any trader looking to participate in a prop trading challenge, such as the SFX Funded Rapid Challenge. These rules provide the foundation for success by outlining the risk parameters, profit targets, and specific rules traders must follow.
- Profit Target – Traders must achieve a designated profit percentage to successfully conclude an evaluation phase, withdraw earnings, or scale their trading account. The profit target for the evaluation phase is 5%. There are no profit target requirements, only a 2% minimum withdrawal requirement.
- Maximum Daily Loss – A trader can lose up to the maximum loss limit in a single trading day without breaching the account.. All account sizes have a maximum daily loss of 3%.
- Maximum Trailing Loss – The difference between the highest achieved account balance and the lowest point of the drawdown determines the maximum trailing loss a trader is allowed to lose without breaching the account. All account sizes have a maximum trailing loss of 4%.
More SFX Funded Rapid Challenge Trading Rules & Objectives
Here are some more:
- Minimum Trading Days – The minimum duration during which you must engage in trading before successfully concluding an evaluation phase or qualifying for a payout. You must meet a minimum trading day requirement of 10 days for the first payout. For future payouts, you can request them every 10 calendar days, provided you trade for at least 3 trading days.
- Maximum Trading Period – The maximum trading duration during which you must reach your required profit target and conclude your evaluation phase. The evaluation phase has a maximum trading period of 7 calendar days.
- Stop-loss Required – Before initiating a trade, it is mandatory for the trader to place a stop-loss on each position. (Must be placed within 1 minute of execution or will be automatically closed)
- No Hedging –Traders cannot employ any form of hedging strategy during their trading activities.
- No Trade Copiers – This means traders cannot use the services of Trade Copiers while engaging in trading activities.
Without a clear grasp of these requirements, even skilled traders may face unexpected setbacks, such as account suspension or disqualification. Knowing the rules not only helps you navigate the challenge with confidence but also aligns your trading strategies with the firm’s expectations, increasing your chances of securing funded capital.
Also, use our Discount Code (FOREXPROPREVIEWS) for a 10% Discount or read the Review.
