How the 1 step evaluation works
How to qualify
The 1 step evaluation is by far our most popular evaluation. It's simple and easy to follow. Trade a minimum of 5 days. Hit your profit target. Don't hit your trailing drawdown. Don't trade more than allowed contracts. Close All trades 1 minute before market close. Do all that and you will be assigned an Elite account within 72 hours and be on your way to earning real money.
1 Step Evaluation Product Rules
Below is an explanation of 1 step evaluation rules.
Max Trailing Drawdown
How does the trailing drawdown work in evaluations?
A In your evaluation account your drawdown never stops trailing from your highest unrealized profit.
Example: You start with an account balance $50,000 and your max drawdown is $2,000 (minimum account balanace of $48,000). If you make a trade and close for a profit of $1,000 your minimum account balance moves up to $49,000.
If at any time you hit your drawdown your evaluation account is failed. You can feel free to start a new evaluation and try again if that happens.
Trailing Drawdown Evaluation Example
50k Eval with $3,000 profit target and $2,000 trailing drawdown.
How does the trailing drawdown work in Elite (qualified) accounts?
A In your Elite account your drawdown trails your unrealized profit until you reach your beginning balance +$100.
Example: You start with an account balance $50,000 and your max drawdown is $2,000 (minimum account balanace of $48,000). If you make a trade and it goes to +$1,000, but you don't close and your trade is now only +$500 your minimum account balance moves up to $49,000 because your highest unrealized profit was $1,000. Once you make $2,100 in realized profits (drawdown + 100) the drawdown stops trailing.
If at any time you hit your drawdown your Elite account is blown and no payouts are made. You can feel free to start a new evaluation and try again if that happens.
Trailing Drawdown Elite (qualified) Example
50k Elite with $2,000 trailing drawdown.
Holding trades overnight
Am I allowed to hold trades overnight?
A No. You are not allowed to hold trades overnight.
All trades MUST be closed 1 minute before the close of the market. Different instruments have different market closing times. It is your responsibility to know these and close your positions before the respective market closes. Holding a postion past market closing time will result in the failure of your evaluation or Elite account. Holding a position past market close in your Elite account will result in a forfeit of profits with account closure.
Example: ES traders must close all positions before 3:59pm Central Standard time on a normal market hours trading day. New trades may be opened at 5pm Central Standard time.
It is the traders responsibility to know holiday trading hours that may vary.
Minimum of 5 trading days
What is the minimum amount of trading days I need to qualify?
A You must have a minimum of 5 days traded and have reached your profit target to qualify for an elite account.
Details on trading days
What qualifies as a trading day?
A Any day you place a trade qualifies. Sunday and Monday are counted as the same trading day.
Does Sunday count as a trading day?
A No. Sunday evening and Monday are counted as the same trading day.
Is there a maximum number of days to hit my profit target?
A No. You may take as many days as you need to hit your profit target. There is no maximum.
Can I trade on holidays and during news?
A Yes. Just know during these events volatility can be very low or extremely high and can wipe an account out quickly if risk management is not applied.
Maximum Account Positions
How do the maximum account positions work?
A You are not allowed to have more than the maximum allowed positions open at any time. Doing so will result in a failure of your evaluation or Elite account. Going over your max allowed positions in your Elite account will result in a forfeit of profits with account closure. 10 micros counts as 1 small or 1 mini.
1 mini = 1 "position"
1 small = 1 "position"
10 micro = 1 "position"
Example: An account with a maximum open positions of 3 minis, 30 micros or 3 small will be used for this example.
Allowed: 1 mini, 1 small and 10 micros
Allowed: 2 mini, 1 small
Allowed: 2 mini, 10 micro
Allowed: 2 small, 10 micro
Not Allowed: 1 mini, 1 small and 20 micros (20 micros is equivelant to 2 "positions" putting this at 4 total positions. 1 more than the 3 allowed.).
Not Allowed: 2 mini, 2 small (4 total "positions")
Not Allowed: 3 mini, 3 small, 30 micro (9 total "positions")
What contract expiration can I trade?
A You agree to trade the highest volume, most current contract for the instrument you are trading. Trading low liquidity and low volume contracts is not allowed.
I qualified. Now what?
A There is no need to email us. We will reach out to you within 72 hours for the next steps.
Please see the Elite Account rules: Click here to see the rules.