What Traders are Comfortable with the one step challenge?

Prop trading is developing rapidly, with traders actively communicating, trying different programs, and providing feedback. Prop trading firms carefully examine this feedback to enhance their programs. One result of this process is the single-phase challenge, designed to allow traders to pass the exam faster and easier. Initially overshadowed by standard programs, single-phase challenges have evolved through ongoing competition and now hold their own among two-step and three-step programs. This article explores the the one step challenge, who may feel comfortable with it, and when a short path is an advantage.

 

 

Contents 

 

•    Fast Start

•    Experienced Prop Traders’ Choice

•    Specific Trading Strategies

•    Challenges Diversification

 

Fast Start

 

For those needing a quick start the one step challenge is ideal. It can cut the path to a funded account in half. For example:

 

• You’re a novice

 

• You have discovered a profitable trading strategy (See more in How to become a Prop Trader?)

 

• Your personal circumstances requires you to star prop trading quickly

 

SpiceProp has the answer with the one step challenge “Chilli pepper” [https://spiceprop.comsweet-pepper]. This challenge requires only three profitable days [link What is a profitable day] compared to six in two-step programs. 

 

If a challenger makes 12.0% profit within three days, he will

 

• accomplish challenge target in the fastest manner

 

• he will get a funded trading account

 

• he is eligible to withdraw the first profit after 14 days of managing a simulated funded account 

 

 

Experienced Prop Traders’ Choice

 

The one step challenge could be interesting for experienced traders. For example,

 

• You’ve been in prop trading for several years

 

• You usually manage four or five accounts funded by prop trading firms

 

• You might want to add another account or replace a closed one

 

You may walk a long way via two-step challenge. While a two-step challenge is a solid choice, it can distract from trading and lower efficiency during the examination process. The single-phase challenge allows for quicker replenishment of your prop portfolio without significant distractions.

 

Specific Trading Strategies

 

The single-phase challenge is suitable for specific trading strategies such as scalping. Scalping strategy involves a large number of trades, enabling a trader to hit the challenge target in just three trading days. A two-step challenge requiring six profitable days can hold back a challenger and increase the risk of failure.

 

 

Challenges Diversification

 

The one step challenge challenge also offers diversification. A prop trader might constantly engage in challenges due to their trading style or the need to expand their prop trading portfolios. With the one step challenge, they can increase their chances of success.

By attending single-phase challenges and two-step programs simultaneously, a strong start in a single-phase challenge can be completed alongside the one step of a two-step program. This approach allows a prop trader to feel more comfortable and confident during the second stage of the program.