The Practical Assessment
You Can Trade
Whether you have taken one of our forex trading courses or you are participating in the T4TCapital Forex Funded Trading Program, you will need to prove to yourself and to us that you can safely and profitably trade our T4TCapital Live Funded Accounts. You do this by taking the Practical Assessment.
The Practical Assessment
The Practical Assessment is a simulation of the live trading account. It has the same rules and limits, the same liquidity provider as the Live Trading Account but is in a safe trading environment where if you make mistakes you are not losing real cash.
So how do you pass the Practical Assessment and move on to the Live Trading Account?
Achieve the profit target whilst adhering to the rules and limits.
Regardless of the account size you simply need to achieve the 10% profit target. The great thing is:
There is no Time Limit to achieve the Profit Target!
Rules & Limits of the Trading Accounts
The rules and limits are the same as the live trading account.
Breach of these rules will simply close your trade and you will be notified by email.
Every time you open a position or place a pending order in the market it must have a valid stop loss attached to it!
Why pending orders? Because the entry order could be triggered and with no stop loss attached that could result in the entire account being lost.
You are not permitted to hold positions over the weekend. All positions need to be closed out no later than Friday 7.00pm GMT/UTC.
If you have an open position over the weekend you will require a reset to continue to be eligible for funding.
You are permitted to trade at all other times except if T4T Management halts all trading due to ‘unforeseen highly volatility international events’. In this case, T4T management will notify you directly about the trading halt.
You may not risk more than your available risk. Your Available Risk is the difference between your account balance and your nearest limit, beit the Weekly Loss Limit Level or the Max Drawdown Limit Level. You Actual Risk in the market is the difference between Current Price and your Stop Loss
Breach of the limits will result in your account being closed and to continue you will need to reset your account.
At the commencement of your Practical Assessment, the Weekly loss limit is set at 2% of your starting balance e.g. $100,0000 account is $2000.
The purpose of the Weekly Loss Limit is to protect last week’s profits. The Weekly Loss Limit Level remains static from the Monday Open until the Friday Close of trading. At the end of each trading week, the Weekly Loss Limit Level is re-calculated on the account balance at 5 pm New York on Friday. On the Monday open, the Weekly Loss Limit is reset according to your new balance. The Weekly Loss Limit stays in play throughout the lifecycle of the trading account.
e.g $100,000 account at the beginning of the week your Weekly Loss Limit level = $98,000
If you hit or exceed the Weekly Loss Limit, with either realized or unrealized P/L at any time during the trading week, (Monday to Friday) your account will be disabled. Any open trades may not be auto-liquidated; however, you will become ineligible for Funding. To continue with the opportunity for funding, your practical assessment account requires a reset.
The Weekly loss limit stays in play throughout the lifecycle of the trading account.
The commencement of your Practical Assessment, the Trailing Maximum Loss Limit is set at 4% of the starting account balance.
e.g. $100,000 = $4,000
The purpose of the Trailing Maximum Loss Limit is to protect your overall profits. The Trailing Maximum Loss Limit (as the name implies) trails your highest account balance throughout the Practical Assessment. If you add profits, the Maximum Loss Limit also moves higher. If you have lost money, the Trailing Maximum Loss Limit remains the same as the previous day.
If you hit or exceed the Trailing Maximum Loss Limit at any time, with realized or unrealized losses, your account will be disabled. Any open trades may not be auto-liquidated; however, your account will become ineligible for a Funding. To continue with the opportunity for funding, your practical assessment account requires a reset.
Frequently Asked Questions
If you breach any of the ‘Rules’ your trade will automatically be closed at the current price.
If you breach any of the ‘Limits’, you will need to reset your trading account to continue the practical assessment and be eligible for funding. The reset costs is dependent on your practical assessment account size. Upon completion of the payment you will now receive a new trading account and be sent the new trading account number and password.
You will be notified by email of a breach of the limits or rules..
With our new trading server and liquidity provider we now have many more tradeable instruments. You can view these here on our new dedicated funded trading website.
If you Breach a Limit and do not reset your trading account within 30 days of the breach, you will have to pay the full starting fee again
There is no time limit to complete the practical assessment. If your trading account is inactive for more than 2 months we will assume you have given up and lost interest and your funded account will be suspended.
Nothing. It remains static from the level set on Monday. It is a loss limit ‘level’ that you must not go below and stays the same throughout the week until it is recalculated on the next Monday.
There are no restrictions on the way you trade or the EA’s you can use. All we focus on is the rules and limits so you’re free to trade however you like and with whatever tools you like. Please note you are responsible for your account mistakes made by your EAs is your responsibility.