How to choose a challenge
When selecting a challenge, it's essential to consider several key parameters, as each challenge comes with specific requirements and conditions.
Requirements include:
- Minimum number of profitable days,
- Profit targets,
- Maximum daily drawdown level,
- Maximum total drawdown level.
While these requirements vary between challenges, they cannot be changed. For instance, the Jalapeño challenge has no minimum requirement for profitable days, whereas other challenges require at least three profitable days. On the other hand, Jalapeño has the lowest profit-sharing level, while other challenges offer significantly higher levels. Profit targets in the Jalapeño and Chilli Pepper challenges are also more stringent than in other options.
Other challenges may have different pros and cons that can be evaluated based on your priorities.
Conditions of the challenges include:
- Challenge cost
- Number of challenge steps
- Account size
- Account scaling
- Initial profit-sharing level
- Maximum number of accounts per trader for one challenge type
- Duration of the trading period
- Trading platform
- Trading assets
- Leverage
A common approach is to compare the cost of a challenge with the account size. For example, the Sweet Pepper 25K challenge costs €149, while for a similar price of €129, you can purchase the Chilli Pepper 10K challenge, or for €140, the Jalapeño 2.5K. Some traders prioritize account size, while others focus on the profit-sharing level, the number of challenge steps, or other factors.
In conclusion, there are no universal rules for selecting the right challenge. It often requires trying out different challenges to find the one that suits your trading style and goals best.
