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Alphachain Trader Challenge.
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CEO Alphachain Capital
Click HERE to view a list of frequently asked questions.
What does minimum 30 trading days?
You need to complete a minimum of 30 days of trading activity to show consistency. This does not need to be consecutive. A trading day is defined as any day you execute an order in the market. At the end of the 30 days your trading report will be reviewed by a risk manager to ensure you have followed all trading guidelines.
What products can I trade and are there costs to trade?
Traders have a diversified product list from forex, indices, commodities and cryptoassets they can trade. Each asset may have its own maximum exposure in terms of lot size. Most assets will have institutional spreads and commission costs to ensure your trading is placed directly into the market and are extremely competitive.
What is the daily loss limit?
In your first evaluation account your Net P&L cannot hit or exceed the daily loss limit at any point during the trading day. If at any time your Net P&L does exceed this amount for your account, any open trading positions may be closed, any pending orders may be cancelled, and you will be withdrawn from the challenge. This ensures traders successfully completing the challenge have an understanding of risk management and are disciplined.
What is the weekly loss limit?
In your second evaluation account, you will have to maintain a balance above the weekly loss limit. The maximum amount you may lose at any point in a calendar week (Monday through Friday) cannot be exceeded. If at any time during the trading week your Net P&L does exceed this amount for your account, any open trading positions may be closed, any pending orders may be cancelled, and you will be withdrawn from the challenge. This ensures traders do not allow large losses to occur and have the ability to increase trading probability through performance analysis.
What is the Trailing Maximum Drawdown?
The trailing maximum drawdown means that when you start the account your balance cannot drop below a certain percentage. This balance number is calculated from the highest value of all opened and closed trades on any trading day. Traders must have good money management throughout the trading day.
What macroeconomic data releases can I trade?
Traders can trade through all major economic releases. Do note during economic releases there can be extreme volatility and large price swings, therefore we encourage traders to reduce market exposure. This ensures trade can maximise their trading opportunity at a reduced risk amount.