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 profitable trading strategy, FundedNext has the following rule, which 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 used 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 at the below example to understand better.
Week 1: Trade freely without worrying about consistency.
Week 2: The average number of trades and lots you take in week 1 will determine your consistency for week 2.
Week 3: Your consistency for week 3 is determined by averaging the number of trades and lots you took in weeks 1 and 2.
Week 4: Your consistency for week 4 is determined by averaging the number of trades and lots you took in weeks 1, 2, and 3.
Let's go through an example to better understand the consistency rule.
This is your starting week:
On the first day, you took 10 trades with a total lot size of 12.
On the second day, there were 15 trades with 11 total lots.
On the third day, has 19 trades with a total of 15 lots, and
On the fourth day, has 26 trades with 18 total lots.
So, in total you have traded a total of 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:
For trades:
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
For Lot:
Max (Average number of lots taken in a week 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 divided 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.