Rules of the Evaluation
Rules of the Evaluation
– You have to post every day your trades with the charts and reasonable explanation why did you take it include even those that you had a feeling that you’ll be lucky
– Each round of Evaluation will take one week – from Monday to Friday
– You will then post a full report – screen shot from your trading station – part with trades and profit/loss that you had that week
– Winner of each week is the one that makes the most PIPS ( losses will be deducted from wins )
– It is up to you which instrument you will be trading
– Size of the trades is not important
– Number of trades is not important
– One will be the winner each given week and we would like him/her to join us in Main Forum with views, opinions and tips
– All those that didn’t win – continue in the next week
You are all eligible to get our support, help and mentoring – so do not be shy, but ASK questions even if you feel that they are not important.
For now ( and next few days) we will be using only this board – Trading Hot Line, but if we would need some more space it will be provided.
Do not mix Our Rules of the Evaluation with the Prop Rules – I am going to write them down as well and explain it in details how it works.
If you have questions and problems with the trading station, ask now – we are starting soon.
Register for FREE to participate – Click HERE
DEMO station – Click HERE
Rules of the Evaluation
Rules of The Prop Trading
Profit Target
$1,500 – 10%
Daily Loss Limit – 4%
Max Trailing Drawdown – 10%
Minimum Trading Days
5 days
Maximum Trading Days
Unlimited
Performance Split
up to 90%
Leverage
up to 50:1
Drawdown Type
Trailing
EAs Allowed
Yes
Hold Over Weekend
Yes
Trade Through News
Yes
Platform
MT4, MT5 or DXTrade
Risk Management when Trading with The Prop
As you can see from the previous post ( rules of the prop trading) , there are several aspects of risk management:
– Profit target of 10% that you have to achieve
– 4% max daily loss
– Minimum trading Days – 5
– Leverage Up to 1:50
It is going to be up to you how you gonna trade , but there are some strict rules that you will have to follow if you want to succeed .
We are going to leave the Profit target for the end – first we have to handle Maximum Daily Loss:
15.000$ – 4% = 600$
To be able to stay away from being kicked out , we must first decide what leverage to use – here are examples :
– 1:10 – 150.000$
1 PIP is 15$
You can lose 40 pips
– 1:20 – 300.000$
1 PIP is 30$
You can lose 20 pips
– 1:30 – 450.000$
1 PIP is 45$
You can lose 13 pips
I hope you got a picture….
Now what we have to achieve:
– 10% Profit – 15.000$ = 1.500$
– 1:10 – 100 pips
– 1:20 – 50 pips
– 1:30 – 33.5 pips
The only reasonable ( and doable way ) is to go with the Leverage of 1:10 – anything more will put you in a position to either avoid trading or be wiped out in few trades.
It is clear from this math that only way to do it is to trade on a very small time frames – smaller the time frame , smaller the stop loss.
Profit target will be further away in terms of time , but if you have a consistency it will be achieved.
Example:
– Time frame 3/4 min
– Profit target from 4 to 10 pips
– Stop loss 2 pips
– At 1:10 leverage you can lose 20 trades in a row and still be in the game
– You need to have Net 25 good trades ( or less if profits are bigger- that depends on the market and not your wish to make more)
– Realistically it is achievable in about 2 weeks time
These are just examples, and if you have no idea how to get there – you have all of us here to help you make it and learn how to do it.
I will show you everything that I know, but only if you ask me – I have no clue who knows what and writing here whatever I think is useful might not be the right thing.
You have to understand that our join experience in Global view team is second to none – I am not saying that there are no other good traders with lots of experience out there, but I am sure that we might be the only ones ready to share our knowledge for free.
Now let’s slowly start preparing – I am dragging our feet a bit right now as I would like you all to be ready for what might be in front of you.
Rules of the Evaluation
