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Overview of Funded Next Evaluation Challenge

TheTrustedProp
Date: May 11, 2024

In the world of trading, proving your mettle can be a challenging task. However, the FundedNext Challenge Type-1 Evaluation provides a unique opportunity for traders to showcase their trading abilities and potentially secure a FundedNext Account with a profit-sharing plan. In this comprehensive article, we will delve into the details of the Challenge Type-1 Evaluation, its phases, benefits, and frequently asked questions to help you understand how it works and how you can benefit from it.

Understanding Evaluation Challenge

The Challenge Type-1 Evaluation is designed to assess your trading skills in two distinct phases, each with realistic profit targets. The ultimate goal is to prove your trading proficiency and secure a FundedNext Account with an impressive profit split.

Phase 1: Achieve Your Profit Goals

In the first phase, your objective is to achieve a 10% profit target within a four-week trading cycle. This phase serves as a critical benchmark for your trading abilities. Once you reach this target while adhering to the rules, you'll be on your way to the next phase.

Phase 2: Scaling Up Your Profits

The second phase involves reaching a 5% profit target within an eight-week trading cycle. Successfully accomplishing this goal opens the doors to a FundedNext Account with even more favorable profit-sharing terms.

Benefits of Evaluation Challenge

Participating in the Challenge Type-1 Evaluation offers traders several enticing benefits:

1. Trade with up to $200K FundedNext Challenge

To increase your chances of profitability, FundedNext offers you the opportunity to trade with up to $200,000 in the Evaluation model. This substantial funding can significantly enhance your trading potential.

2. 15% Profit Share from the FundedNext Challenge Phase

During each assessment phase of the Evaluation model, you can earn a 15% profit share. This means you start earning a profit share reward even while trading the FundedNext Challenge account, adding another layer of motivation to your trading journey.

3. 14 Days Extension

Life happens, and sometimes meeting your trading targets within a specified time frame can be challenging. FundedNext understands this, which is why they offer a 14-day extension if you are profitable and follow all the rules but cannot meet your Phase-1 target in time.

4. Unlimited Free Retake

FundedNext's commitment to your success is evident in its offer of unlimited free retakes. If you are in profit but cannot achieve your target within a trading cycle while following the rules, you can take advantage of this opportunity without incurring any additional charges.

5. Up to 90% Profit Sharing

Starting with an 80% profit split upon getting the FundedNext Account, your profit share can increase up to an impressive 90% based on your performance. This substantial increase in profit sharing reflects your dedication and trading prowess.

6. Weekend Holding

FundedNext understands that market movements don't adhere to a strict schedule. With the ability to hold your trades over the weekends, you can tailor your trading strategy to your preferences, whether it's scalp, intraday, or swing trading.

 

In conclusion, the FundedNext Challenge Type-1 Evaluation is a unique opportunity for traders to prove their abilities, access substantial funding, and benefit from an attractive profit-sharing plan. By adhering to the rules and consistently meeting the profit targets, you can pave the way for a successful trading journey with FundedNext.

FAQs

To successfully navigate the Evaluation Challenge, you must adhere to specific rules, including: Maximum Daily Drawdown: Limiting losses to 5% of your initial account balance in a single day. Maximum Overall Drawdown: Maintaining an overall maximum drawdown of 10% of your initial account balance throughout your trading journey. Minimum Trading Days: Completing a minimum of 5 individual and separate trades during your trading cycle, with no specific requirement for consecutive trading days. These rules ensure fair and responsible trading practices.

The profit targets for the Evaluation Challenge are as follows: Evaluation Phase 1: Achieve a 10% profit target within a 4-week trading cycle. Evaluation Phase 2: Reach a 5% profit target within an 8-week trading cycle. Evaluation FundedNext Account: No specific profit target in the Evaluation FundedNext account. Meeting these targets is essential to progress through the challenge phases.

For Phase 1, you'll have a 4-week trading cycle, while Phase 2 provides an 8-week trading cycle. However, if you meet the criteria and trading objectives, you can complete both phases earlier, maintaining a minimum of 5 trading days for each.

Upon successfully reaching the profit target of Evaluation Phase 1, you will discover a "Start Next Phase" button in your account dashboard. Clicking this button grants you access to Phase 2. Alternatively, if you don't click the button, Phase 2 will automatically appear on your dashboard the following day.

As you progress through the Evaluation Challenge Phases, your profit share will increase. It starts at 15% during the Challenge Phase and can reach up to an impressive 90% in the FundedNext account. This significant increase in profit share rewards your dedication and achievements.

Yes, you can request a 14-day extension for Phase 1 of the Evaluation Challenge if you meet specific criteria, such as growing your account by more than 5% and adhering to all rules.

Certainly. You have the option to reset your account in Evaluation Challenge Phase 2, allowing you to restart your trading journey with FundedNext. However, keep in mind that this will take you back to Phase 1.

Yes, if you meet the profit target and follow all the rules, you can proceed to the next step in as little as 5 days for each Phase. This flexibility allows you to advance quickly if you achieve your targets early.

FundedNext offers traders the chance to retake the Evaluation Challenge for free, provided they meet specific criteria, including ending the account in profit, trading for a minimum of 5 days, and following all trading objectives. This option is available exclusively during Phase 1 of the Evaluation Challenge, giving you ample opportunities to demonstrate your skills.

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