Every trader joining a forex proprietary firm like Smart Prop Trader needs to pass all the required stages of the forex funding challenge. That should be the first mission of aspiring traders. It is not at all exhausting to pass the forex-funded account challenge of this firm, provided you have the right mindset and skills and use the best strategies. A few tips that can help you rise to the forex funding challenge and transform your trading future are as follows:
Understanding the Challenge's Rules and Requirements
Before starting with the trading game, know the rules and requirements of the challenge thoroughly. This involves the benchmarks and parameters used to evaluate the trader's performance, constraints, and risk management strategies. Smart Prop Trader keeps its challenge as simple as possible, thus enabling aspiring traders to focus on their trades. There are unlimited virtual maximum trading days and zero virtual minimum trading days, helping traders advance as soon as they complete the trading objectives.
Smart Prop Trader features a 2-phase trading challenge that identifies traders with the ability to become profitable and successful.
The main features of the challenge include the following:
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Varied account sizes range from $10,000 to $200,000; the lowest account price is $97 and $997 the highest.
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The profit target for the first phase of the challenge is 7%, and that for the second phase is 5%.
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The virtual maximum loss is 8%, and the virtual daily loss limit is 4%.
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8% of the starting balance of the traders is the maximum drawdown.
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Smart Prop Traders' default profit ratio is 85:15, but consistently successful traders who meet the conditions of the firm's scaling plan can enjoy an increase of 25% in their account balance, with their payout ratio automatically changing to 90:10.
Having the perfect trading plan and a clear idea of the rules mentioned above and the requirements can help you succeed in the trading environment.
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==
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