TradeApp has a two-phase evaluation process:
Phase 1: Initial Evaluation:
Profit Target: Reach a 10% profit target based on the initial capital.
Minimum Trading Days: You must trade on at least 4 days to complete this phase.
Risk Management Rules: You must follow strict risk management rules, including a daily loss limit of 5% and an overall loss limit of 10%.
Phase 2: Verification:
Profit Target: Reach an 8% profit target based on the initial capital.
Minimum Trading Days: Again, you need to trade for at least 4 days.
Risk Management Rules: The same rules from Phase 1 apply here, maintaining a 5% daily loss limit and 10% overall loss limit.
After completing both phases, you will become a funded trader with TradeApp.
What are the risk management rules during the challenge?
Risk management is critical at TradeApp. To ensure traders responsibly handle the firm's capital, the following rules apply:
Daily Loss Limit: You cannot lose more than 5% of the initial capital in a single trading day. This includes closed trades and floating losses.
Overall Loss Limit: The total loss allowed during the evaluation is 10% of the initial capital. Breaching this limit will result in disqualification, and you will need to restart the challenge.
These rules help traders maintain control over their risk, reducing the chance of large losses and promoting consistent trading discipline.