A Strategic Blueprint to Successfully Navigate and Pass the Proprietary Trading Firm Challenge
If you want to become a successful trader, you must join a prop firm and above everything else, you will have to pass prop firm challenge. This is one of the most popular ways for traders to prove their skills and secure funding from the best prop firm. At Smart Prop Trader, passing the challenge is not a major task and does not require putting in a lot of hard work. Here, we will know how.
Smart Prop Trader’s 2-Phase Trading Evaluation Process
Smart Prop Trader’s 2-phase trading evaluation process is the firm’s way of assessing the abilities and skills of potential traders. It involves meeting specific criteria and completing certain tasks within a stipulated time frame. The main objective of this challenge is identifying traders with the potential to become successful and profitable in the long run. The set rules and requirements to complete the prop firm challenge at Smart Prop Trader are as follows:
Smart Prop Trader requires traders to start with a small account size of $10,000, available for $97. However, there are several other account sizes like $25,000 for $197, $50,000 for $297, $100,000 for $497 and $200,000 for $997.
There are no minimum trading days for either of the challenge phases, which means traders get unlimited time to pass the prop firm challenge.
The profit target for Phase 1 of the evaluation procedure is 7%, and that of Phase 2 is 5%.
The virtual daily loss limit is 4%, and the virtual maximum loss is 8%. While the virtual daily loss limit is fixed and based on the initial balance, the virtual maximum loss remains static and is calculated on the initial balance.
The maximum drawdown for the traders is set at 8% of their starting balance, and this remains static for the life of the account.
The daily drawdown amount always remains fixed at 4% of the account size purchased or the initial balance.
The default profit payout ratio is 85:15, but traders who meet the conditions of the firm’s scaling plan can enjoy a 25% increase in the balance, and the payout ratio will automatically change to 90:10.
Besides this, Smart Prop Trader is now offering a 40% discount on its $10K and $25K accounts and the promo code for the same is SPT4EVER. This limited-time offer ends on February 15.
So why the wait? Make the smart choice and become a funded trader today; contact the support team at Smart Prop Trader via the platform’s 24/7 discord support: https://discord.gg/spt
Register on their website to buy your challenge account, track your account growth, participate in free monthly trading competitions, and join their online community by engaging in tasks for giveaways at https://www.smartproptrader.com/now!
Follow, Like, Subscribe and Join it on its social handles for updates on free prop firm account giveaways:
1. YouTube: https://youtube.com/@smartproptrader
2. Twitter: https://twitter.com/SmartPropTrader 3. Instagram: https://instagram.com/smartproptrader?igshid=OGQ5ZDc2ODk2ZA
prguitarman
turnnoffyourmind
snowghoul
blakekathryn
titsay
tangentwithtanner
kianamaiart
discoholicmusic