Evaluation (challenge)(Evaluation / challenge)
The test you must pass to get a prop firm's funding: a profit target (e.g. 8-10%), a daily loss limit (4-5%), total drawdown (8-10%), and sometimes a minimum number of trading days.
Also written as: challenge · değerlendirme hesabı · değerlendirme aşaması · challenge hesabı
In the two-phase model, the second phase target is usually lower (5%). The fee varies with account size (~$100 for 10k, ~$500 for 100k) and is refunded with your first payout after you pass.
The most common reason for failure is increasing risk under the pressure to reach the target quickly. Moving forward with 0.5-1% risk per day is enough to pass most evaluations, since there is no time limit.