Challenge step FAQ
Can I open the maximum contracts from the get go?
Yes, you can open the maximum number of contracts from the start on FlexyTrade; although recommended, it is not mandatory to follow a scaling plan.
What is FlexyTrade’s drawdown type?
FlexyTrade uses the trailing drawdown as the main Risk Management parameter.
What exactly is the trailing drawdown?
A trailing drawdown is a risk management feature that adjusts the maximum allowable loss limit upwards as the equity in your trading account increases. It "trails" your highest account balance, ensuring that the drawdown limit increases with successful trades but does not decrease with unsuccessful ones. This allows traders to secure profits while limiting losses, providing a dynamic way to manage risk as the account balance grows.
How can I monitor my trailing drawdown?
You can monitor your trailing drawdown directly from your RTrader Pro or on your FlexyTrade dashboard. Please refer to this guide for more details.
What are the minimum and maximum trading days to pass the challenge?
There are no minimum or maximum trading days required to pass the challenge. However, you must be an active trader, in other words, it's not allowed to purchase a challenge solely to get access to Market Data and trading platform license.
Can I leave an open position overnight?
No, you cannot leave an open position overnight; overnight positions are not allowed.
I passed the challenge step, What's next?
Congratulations on passing the challenge step! Next, you will receive your success certificate. After that, you'll need to sign the agreement and pay the activation fees. You can complete these steps seamlessly by following the instructions provided in this guide.
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