You will find the Consistency rule for our Express Challenge below:
Non-Consistency Express Account:
Not applicable to non-consistency accounts.
Consistency Express Account:
To help traders craft their own profitable trading strategy, FundedNext has the following rule. This will assist you in sharpening your trading habits and ensure you gain consistently every week.
You need to maintain consistency every week. A safe way to increase or decrease your risk consistency is to keep within +/- 200% of your weekly average or by a deviation of 2.0. The three main KPIs that are being uses here are the number of trading days, trades, and lot size. Each week, we will take the average of the mentioned KPIs and place a maximum (Total x 2) and minimum (total/2) to determine the consistency you need to maintain.
Let's have a look in below example to understand better.
Let's go through an example to better understand the consistency rule.
This is your starting week:
So, in total you have traded total 4 days, your total trades taken for the week is 70, and the total lot size for the week is 56.
Now for week 1,
The average number of trades would be (total number of trades taken/number of days traded) = 70/4, which is 17.5 trade counts.
The average lot size would be (total number of lots used/number of days traded) = 56/4, which is 14 lots.
Now the consistency of week 2 would be the following:
Max (Average number of trades taken in a week-1 x 2) = 17.5 x 2 = 35
Min (Average number of trades taken in a week 1/2) = 17.5/2 = 8.75
Max (Average number of lots taken in a week-1 x 2) = 14 x 2 = 28. Min (Average number of lots taken in a week 1/2) = 14/2 = 7
From the above example, your lots taken average needs to be between 7 and 28, and your number of trades taken average needs to be between 9 and 35. Otherwise, it will be considered a violation.
Similarly, for week three, the average of weeks one and two will be taken and then it will be multiplied by two to set the maximum limit and divide it by two to set the minimum limit for both the lot size and trader count.
Please note that if there is any violation of the rules, our agent will review your account & may pause the payout for that particular cycle. In this case, your account will not be terminated and will be reset to your initial balance at the start of the next cycle.
Please find a visual representation of the process in the video below for your reference: