What are your trading style rules?

Created by Sebastian Anthony, Modified on Mon, 22 Sep at 1:45 AM by Sebastian Anthony



  1. Excessive Scalping: Holding 50% or more of your trades for less than a minute.
  2. Martingale: Having five positions opened simultaneously in drawdown, on the same pair
  3. All in: Betting in one direction and holding until you pass or fail. This is defined as making one trade with no risk management (not having a stop-loss in place or risking more than the drawdown limit), which would either pass or fail the challenge. 
  4. Gamifying the Challenge: This is when you are trading two accounts against each other with going long on one account and short on the other, with the guarantee of passing the challenge.


Examples:


Excessive Scalping:


The Trader is trying to execute trades rapidly, the trader takes a total of 50 trades, 26 of which have been executed in under a 60s hold time. This means a total of more than 50% of trades have been executed in under a 60s hold time and contributes to excessive scalping.


Martingale


The trader identifies several promising long opportunities in the EUR/USD pair and decides to open positions: Long EUR/USD at 1.2000. Long EUR/USD at 1.1980. Long EUR/USD at 1.1950. Long EUR/USD at 1.1975. However, the trader fails to monitor their positions closely and overlooks the existing limit of five positions in drawdown. In a moment of excitement, they open another long position without considering the rule. Long EUR/USD at 1.1995. With five long positions now opened in drawdown, The trader has breached the rule.


All in: 


A trader opens a one lot position on EUR/USD, they do not put in a SL and the trade runs all the way to passing the challenge in one go. This trade had two outcomes, either passing the challenge or failing the challenge, this does not show trading ability and the trader will not be processed to the funded stage. The trader enters a EURUSD on their two step challenge, they put the SL at 6% of the balance, if this hits SL this will fail the challenge. The trader would not advance to the funded stage. Layering positions on the same pair and direction within close intervals without setting a stop loss or layering positions exceeding the drawdown limit.


Gamifying the challenge:


his is when you are trading two accounts against each other with going long on one account and short on the other, with the guarantee of passing the challenge. Even if you are trading with Maven and another firm to reverse the account, we can detect this and you will not pass the challenge.



Note: A ‘trade’ can be determined as a position held by the trader on a specific pair. ‘Trade’ may be one or multiple entries with similar timings and lot sizes. A trade could be determined by multiple entries on the same pair at the same time. Trades with vastly smaller lot sizes will NOT count as a trade. If you are found to be gambling, you will not be advanced to the funded stage and offered to retry the challenge. 


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