Evaluations and accounts
Minimum trading days
The number of separate days on which an account must trade before an evaluation phase can pass. Some firms also require a minimum profit on each qualifying day for it to count.
GFN’s figure
GFN requires 3 minimum trading days on the 2 Step, each needing 0.5% profit - $500 on a $100,000 account. Instant and the 1 Step have no minimum at all, so a 1 Step evaluation can complete in a single day.
- InstantMinimum trading days
- None
- 1 StepMinimum trading days
- None
- 2 StepMinimum trading days
- 3, at 0.5% profit each
In detail
Minimum trading days,explained
The rule exists for the same reason a consistency rule does: to make a single session less likely to carry an assessment. It also sets a floor on how quickly a programme can possibly be completed.
A day generally counts as qualifying only if it meets the stated profit condition, so three days of tiny scratches may not be three qualifying days.
Related
Terms thatcome with it
Most rules only make sense next to the ones they interact with. These are the entries this one depends on.
Consistency rule
A rule capping how much of an account's total profit may come from a single trading day. It stops one outsized day from carrying an otherwise flat account through an evaluation.
Time limit
A deadline by which an evaluation must be completed. Where one exists it changes the strategy entirely, because it converts a test of process into a test of process under a clock.
Two-step evaluation
An assessment split into two phases with separate profit targets. The first phase proves the strategy, the second - usually at a lower target - checks it repeats before the firm issues a simulated funded account.
Phase one
The first stage of a two-step evaluation, carrying the higher of the two profit targets. Clearing it without breaching a risk rule moves the account to phase two rather than to a funded account.
Evaluation
The assessment stage of a prop programme, traded on a simulated account. Profits made during an evaluation are simulated results used to decide whether you pass; they are not withdrawable.
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