You’ve made it! You passed an evaluation, have completed the various agreements with the trading evaluator and now have a “funded” account. The quotation marks are intentional… you’ll see why shortly. We’ll refer to them as “live” accounts from here onwards. Here are some things to really be aware of…
The lifespan of a new live account tends to be very short. People get super-excited that they’ve passed an evaluation and are on the path to riches and all of their good work gets thrown out of the window. It’s very common for people to blow up their live accounts within one month or less of them being granted. Sometimes a week. Sometimes even a day!
A lot of the time this is down to a lack of trading process or discipline. Sometimes it’s also due to the rules in place for the live account being different to those that existed for the evaluation! You must carefully read your chosen evaluator’s rules and parameters to see if there are differences around drawdown levels, scaling restrictions, etc. for live accounts vs. evaluation accounts. You may even find that trading is prohibited in a live account for multiple days around Thanksgiving and Christmas holidays!
If you’ve been using a free platform provided by the evaluator during the evaluation program, it’s potentially not available to you in a live account. This is something to bear in mind as you transition from evaluation to live.