Are you a prop firm trader who is tired of trading with 2 Phase Evaluation programs and always fail in Phase 2? Are you a trader who gets funded after months of trading in evaluation phases and fail in your funded phase? Maybe you have experience in 1-Step Challenge but as you are about to get funded and trailing Drawdown limit comes really close to one of your losing trades and you breach your account.
All of this makes trading really frustrating, especially when you have just started in this growing Prop Firm space.
If you are reading this article, you are at the right place now as today we are going to talk about how you can make your trading experience better with Klein Funded 1 Phase Challenge, Why you should choose it instead of other basic 1 Phase Challenges. Why it’s important to have only an 8% profit target and mainly a Static Drawdown.
Let’s talk about the Importance of Static Drawdown
Usually most prop firms offer Trailing Drawdown on their 1-Phase Challenge Programs and most of the trader or traders who have less experience in this market often go through phases where they lose their trades and the way Trailing Drawdown works makes it more difficult and often lead to losing trades and that can trigger the Trailing Drawdown limit and the trader will fail their account. Here are the three important factors of Static Drawdown.
1). Static drawdown stays fixed to the initial balance and does not change the drawdown limit as the profits increase, resulting in more breathing room for traders to grow their account without the fear of losing their overall progress due to withdrawing their profits or losing few trades.
2). This stable Drawdown limit allows traders to stay disciplined to their risk management strategies and does not put pressure to add extremely small stop-losses which are most likely to hit.With Trailing drawdown, Traders are often forced into using short-term trading strategies to avoid their drawdown limit to trigger and with Static drawdown, Once a trader makes profit, after that they can easily take bigger risk or just be relieved that their drawdown won’t be triggered as they are in profit.
3). Static Drawdown is really straightforward and easily predictable. Due to that, it creates a sense of fairness between trader and prop firm and also eliminates the complex calculation which a trader will have to do to add their stop-loss without triggering Drawdown limit. All of this also gets really confusing.
Why Klein Funded 1-Phase Challenge Stands out?
Klein Funded stands out because of their 3 Main plus Points!
- Static Drawdown
- 8% Profit Target
- Affordable Prices
1). Static Drawdown :-
Yes, As we have already talked about Static Drawdown, Klein Funded is one of those unique prop firm which offers Static Drawdown on their 1-Phase Challenge which is very rare to find as most prop firms offer Trailing Drawdown with it.
2). Only 8% Profit Target :-
Yes, Klein Funded 1-Phase Challenge only applies an 8% profit target whereas the standard profit target limit is set to 10%. This 2% difference doesn’t look that big when we talk about it but every percent counts when you are in a trade and this is great for beginner traders and also those who are used to trading in 2-Phase challenges as 8% profit target as become the standard phase 1 profit target.
3). Affordable Prices :-
Coming to the most exciting part, Klein Funded offers all this in really affordable prices and also with higher capital. Even at the lowest capital, Instead of the $5k account, Traders are offered $6K account. Here is the list below :
- $6000 Account - $49
- $13000 Account - $99
- $30000 Account - $239
- $50000 Account - $339
- $100000 Account - $539
Conclusion
Klein Funded’s new 1-Phase Challenge might be one of the best single phase evaluation programs out there. Competition killer Static Drawdown, Just 8% profit target for being funded and affordable prices which matches the same 2-phase challenges. Klein Funded is definitely great for traders who are either beginners or looking to shift towards 1-Phase Evaluations.