What are the objectives and rules of the Quick Pay and Fast Pass Evaluation?

TradeDay has just one rule - Don't break the Maximum Drawdown Limit!

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Quick Pay Evaluation

Show us you have a consistent and winning trading strategy by achieving the following objectives:

• Objective 1: Trade for a minimum of 5 trading days. If you reach the profit target early, keep trading, we want to see a 5 day track record. 
• Objective 2: Reach the profit target in the trading account. This is your total net profit over the course of the challenge.  
• Objective 3: Be consistent in your profitability. No day greater than 30% of your total profits.

Show us you have Risk Management skills and discipline by following these rules:

• Rule 1: Do not hit or exceed the maximum drawdown. This is the maximum amount you can lose before the evaluation is over. 

Fast Pass Evaluation

• Objective 1: No Minimum Trading days
• Objective 2: Reach the profit target in the trading account. This is your total net profit over the course of the challenge.  
• Objective 3: Be consistent in your profitability. No day greater than 45% of your total profits.

Show us you have Risk Management skills and discipline by following these rules:

• Rule 1: Do not hit or exceed the maximum drawdown. This is the maximum amount you can lose before the evaluation is over.

Profit targets, position limits, and drawdown limits are the same as those of Quick Pay accounts. All drawdowns are calculated at the End-of-Day.

To achieve funding, pass the evaluation by achieving the objectives without breaking the Max Drawdown rule while staying within the guidelines of permitted times, the permitted products, and your open positions should not exceed the maximum position limit.

We do not fail a trader for accidental breaches of these three guidelines, but traders found to be abusing these will lose their account. 

You will pass the evaluation when you have achieved the objectives without breaking any of the rules. If you break a rule during the evaluation, you will fail and no longer be eligible for funding. However, you can take the evaluation again by either:

• Purchase a retake, known as a 'reset'.
• Or, wait for your next subscription payment to go through, and we will reset you for free at that time. Click here for our policy on courtesy resets.