The Ability Challenge Program is a structured test designed to see how well you can trade. It’s divided into two phases, each with its own set of rules and targets. If you pass these phases, you could receive funding to trade with. This program is great for those who are confident in their trading skills and want to prove their ability in a structured way
Key Features of the Ability Challenge Program
The Ability Challenge stands out because it has clear, distinct phases with different targets and rules. This helps ensure that traders can prove their skills under various conditions, making it a unique opportunity compared to other trading programs.
Profit Targets :-
Phase 1: 10% Profit Target
In the first phase of the Ability Challenge, you need to make a profit of 10%. This target is set to test your ability to achieve significant returns while managing your risk. Meeting this goal shows that you have strong trading skills.
Phase 2: 5% Profit Target
Once you complete Phase 1, you move on to Phase 2, where the profit target is set at 5%. This lower target is meant to test your consistency. If you can hit this target, you’ll be one step closer to getting funded.
Drawdown Limits :-
Daily Drawdown
Phase 1: 7.5%
In Phase 1, you can only lose up to 7.5% of your account balance in a single day. This limit helps ensure that you manage your risk effectively. Remember, this drawdown is based on your equity, so it changes with your account balance.
Phase 2: 5%
For Phase 2, the daily drawdown limit is set at 5%. This stricter limit encourages you to be even more careful with your trading decisions as you progress.
Max Drawdown
Phase 1: 15%
The maximum drawdown for Phase 1 is 15%. This means that you can’t lose more than 15% of your starting balance in total. This limit stays the same throughout the phase, regardless of your equity changes.
Phase 2: 10%
In Phase 2, the maximum drawdown is reduced to 10%. This adjustment reflects the higher expectations for consistency and careful risk management at this stage.
Trading Requirements :-
Minimum Trading Days
To complete each phase of the Ability Challenge, you need to trade for at least 4 days. This requirement ensures that your performance is evaluated over a reasonable period, providing a better assessment of your trading skills.
Maximum Trading Days
There is no set limit on how many days you can take to complete the challenge. This flexibility allows you to trade at your own pace, which can be helpful depending on your trading style.
Profit Sharing :-
Initial Profit Share: 75%
When you become a funded trader, you start with a 75% profit share. This means you keep 75% of the profits you make, while Audacity Capital takes the remaining 25%.
Increased Profit Share: 85% and 90%
If you achieve a 10% profit in the next month, your profit share increases to 85%. With continued success, it can go up to 90%. This tiered approach rewards you for maintaining strong performance.
Payout Frequency :-
Once you’re funded, you’ll receive your profit share every two weeks. This regular payment schedule provides a steady cash flow, allowing you to benefit from your trading success more often.
Leverage Offered :-
Audacity Capital offers leverage of 1:100 on major and minor forex pairs, as well as other assets like Gold, DAX, S&P500, US30, and NAS100. This means you can take larger positions and potentially earn higher returns.
Trading Rules :-
News Trading
You are allowed to trade around news events, but be cautious. News trading can sometimes lead to slippage or unpredictable results, so make sure you are prepared for these risks.
Holding Trades Overnight and Over the Weekend
You can hold trades overnight and over the weekend. This flexibility allows you to take advantage of longer-term market movements and hold positions that span across different trading sessions.
Account Sizes :-
Audacity Capital offers a range of account sizes for traders, including $10,000, $15,000, $30,000, $60,000, $120,000, and $240,000. You can choose an account size that fits your trading strategy and risk tolerance.
Conclusion :-
The Ability Challenge Program by Audacity Capital is a well-structured way to showcase your trading skills and access significant funding. With its clear phases, profit targets, and flexible trading rules, it offers a great opportunity for traders who are serious about their trading career. Whether you’re an experienced trader or looking to advance your trading journey, this program provides a structured path to achieving your goals.