The prop trading challenge is your gateway to managing substantial capital. Designed to test your capital management skills, this two-phase challenge takes place on demo accounts. If you successfully complete both phases, you'll be rewarded with a real money account equal to the demo amount you traded. For instance, if you complete the challenge with a $10,000 demo account, you'll receive the same $10,000 in real funds. And if you complete multiple challenges, you can manage even larger capital.
To succeed in the challenge, having a solid strategy is key, but choosing the right tariff is just as important. Gerchik & Co offers two tariffs: Mission and TradeX, each packed with unique features and benefits. Let’s break them down to help you choose the perfect fit.
Gerchik & Co offers two tariffs: Mission и TradeX. While both share a similar structure, they differ in several key areas.
Mission: 10% in Phase 1. 5% in Phase 2.
TradeX: 8% in Phase 1. 5% in Phase 2.
The TradeX plan features a lower target in Phase 1, making it ideal for traders with a more cautious approach. On the other hand, the Mission plan is better suited for ambitious traders looking to maximize their market potential.
2. Maximum Drawdown Limit:
Mission: Fixed drawdown of 10%.
TradeX: Dynamic drawdown of 8%.
Mission is ideal for aggressive traders, offering greater drawdown flexibility. On the other hand, TradeX’s stricter risk management rules make it perfect for those who prioritize disciplined trading.
Mission: The drawdown level is fixed from the beginning and remains the same, even if your equity goes up.
TradeX: The drawdown level is adjusted when a new maximum yield is reached. It rises with equity growth but cannot exceed the initial balance.
Initial Terms::
Deposit: $10,000. Maximum Drawdown for Mission: $9,000 (Fixed). Maximum Drawdown for TradeX: $10,000 (Dynamic).
Scenario: The trader made $2,000, while equity rose up to $12,000.
1. Mission Challenge: The maximum drawdown is fixed at $9,000. Even if you earn $2,000, the drawdown remains tied to the initial balance, meaning you can lose a maximum of $3,000.
2. TradeX Challenge: The drawdown level is recalculated and becomes 10% of the new maximum equity ($12,000), or $10,800. However, the drawdown cannot go below the starting deposit of $10,000
The cost of participation varies based on the starting balance, and there are slight differences between the Mission and TradeX tariffs:
| Balance | Mission Tariff | TradeX Tariff |
| Balance: $5,000 | $69 | $59 |
| Balance: $10,000 | $124 | $99 |
| Balance: $25,000 | $275 | $199 |
| Balance: $50,000 | $379 | $299 |
Choose Mission if: You trade consistent volumes and prefer clear, fixed limits. Your strategy helps you quickly reach profit targets. ВYou prefer a fixed drawdown that remains unaffected by changes in equity.
Choose TradeX if: You trade with profit accumulation and are comfortable with stricter limits. Your strategy requires flexibility in risk management. You want your profits to increase your allowable drawdown level.
Ready to take on the challenge and become a prop trader? Click here , to select your tariff.
The challenge isn’t just a chance to receive funding from a prop company—it’s also a test of your discipline, resilience under stress, and adherence to trading rules. Here are some tips from a prop office manager Viktor Makeev:
1. Scrutinize challenge rules in prop company Before you get started, take the time to review the rules: - Understand how the allowed drawdowns (fixed or dynamic) are calculated. - Familiarize yourself with the daily profit and loss limits. - Know the time frame you have to meet the requirements.
Tip: Create a trading plan that aligns with the set limits. Ignoring the rules could result in disqualification, even if your results are otherwise strong.
2. Have realistic goals Avoid chasing maximum profits right off the bat. Instead: - Focus on maintaining steady profitability (e.g., 0.5%-1% daily). - Remember, success isn’t just about hitting profit targets but also staying within acceptable risk limits.
Tip: Break your goal into manageable steps. For instance, to achieve 10% in 30 days, aim for a daily profit of 0.33%.
3. Stick to risk management Effective risk management is the backbone of success: - Limit risk per trade to 1-2% of your deposit. - Avoid opening too many trades simultaneously to prevent overloading your account.
Tip: Always use stop losses on each trade. This will help you manage losses and stay within the acceptable drawdown limits.
4. Keep your emotions under control The challenge can be stressful, especially when you're inches away from the acceptable drawdown. Keep your emotions in check: - Avoid entering the market when you're feeling angry, fearful, or greedy. - If you’re feeling overwhelmed, take a break and return to trading later.
Tip: Keep a trading log to track both your trade results and emotions. This can help you learn from mistakes and improve in the future.
5. Use tried-and-tested strategy only Before you start trading, make sure that your strategy: - Has been tested on historical data and under real market conditions. - Includes a clear action plan: when to enter, exit, and how to manage the trade. - Aligns with the challenge rules, including risk and profit limits. Why it matters: A challenge is not just for experimentation. Using a new or underdeveloped strategy can lead to impulsive decisions, rule violations, and unnecessary, avoidable costs.
Tip: - Know the strengths and weaknesses of your strategy. For example, does it perform better in flat markets or during high volatility? - If possible, test it on a demo account and in real trading with small volumes to ensure it’s effective. - Stay disciplined and follow your plan, even in stressful situations.
*Bonus Tip: Know when not to trade Avoid trading during: - Key economic news releases. - Periods of high market volatility, unless your strategy is built for such conditions.
Tip: Before entering a trade, ask yourself if it aligns with the terms and conditions of the challenge.
Want to complete the challenge successfully and manage significant capital? Select the right tariff, follow tips from a seasoned prop trader, and start your journey to success today!
Choose the challenge
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