1. Choose account size
Evaluation accounts differ by size, so you are choosing how much possible drawdown you have and how much you have to make to pass the test.
Some examples:
| Account | $50K | $100K | $150K |
|---|---|---|---|
| Maximum Loss Limit | $2,000 | $3,000 | $4,500 |
| Profit Target | $3,000 | $6,000 | $9,000 |
If you are unsure, choose a $50K account. They are most popular because they usually offer the best profit/drawdown ratio.
2. Follow the rules
Pay special attention to various parameters of your evaluation account which directly affect how you do the evaluation. Most important ones:
- Consistency rules (how much of the total profit target you can make per day);
- The type of drawdown, e.g. end-of-day or intraday trailing (how your balance change affects your buffer);
- The daily drawdown limit or DLL (how much you can lose in 1 day).
To pass the evaluation you have to obey each of those rules. They differ from firm to firm, so take your time choosing what's best for you.
3. Trade and get funded
Settle on an account, buy, and good luck!
If you fail the test, you can pay the reset fee and try again. Unless you are some kind of prodigy, it usually takes a few tries. But if you hit the profit target, you will receive an email that your account is passed! Congratulations! Some firms will ask you to pay an activation fee for your new funded account, but more often than not, it is $0.
Now you are in the big league!
4. Join the family
If you bought with the code SMART, don't forget to sign up for a SmartPropFirm account and log your purchase with us to get smart points and many more benefits!
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