The Evaluation Program
Prove our capital is safe in your hands by passing our Evaluation Challenge
The Evaluation Challenge is built on the three fundamental building blocks of successful trading:
A winning strategy that shows consistency – solid risk management – disciplined trading
- Reach the profit target of $2000
- Trade for a minimum of 15 days
- No single trading day can account for 30% of total P+L
- Do not exceed the daily stop loss of $500
- Do not exceed maximum trailing drawdown of $1500
- Do not exceed position limits according to risk rules
- Close all positions before end of the trading day
- Don’t trade over major economic releases or announcements
Understanding our Risk Parameters
Unlike some other firms we don’t give you fake account balances
When you join a Professional Trading Group, unless you have pre-funded the account yourself, every professional trading account starts at zero. As a trader its up to you to build your account balance. The more money in your trading account the more risk you can take. The two questions you should always ask yourself are what position size limits will my trading firm allow me to trade, and how much will I be allowed to lose before they stop me trading.
At MyTradeDay we make this simple and transparent.
Risk Limits – Position Size
Whether trading in simulator or live we allow our traders to trade with 2 contracts to start, allowing an additional contract for every $1000 of profit. So, if you have an account balance of $5000 you will be allowed to trade a position size of up to 6 contracts.
Risk Limits- Losses
If you join our Beginner program the total losses ( in Evaluation or Funded) will be set to a trailing drawdown of $1500 until your account balance reaches the target of $2000. If you are in the Advanced program then your trailing drawdown is $3000 until you reach your profit target of $4000