To successfully pass a challenge at Dominion Funding, follow these key steps:
1. Understand the Requirements: Familiarize yourself with the specific rules and requirements for the challenge phase, including profit targets, daily and overall loss limits, and minimum profitable days.
2. Set Realistic Goals: Establish achievable profit targets based on the guidelines provided. Aim for steady growth rather than attempting to achieve high returns quickly.
3. Practice Risk Management: Implement sound risk management strategies. Ensure that your position sizes are appropriate for your account balance and that you are adhering to the daily and overall loss limits.
4. Trade Consistently: Engage in regular trading activities to meet the minimum profitable days requirement. Avoid taking long breaks or being inactive during the challenge period.
5. Avoid High-Risk Strategies: Steer clear of strategies that could lead to significant losses, such as trading during high-impact news events or holding positions overnight or over the weekend.
6. Stay Disciplined: Stick to your trading plan and remain disciplined in your approach. Emotional trading can lead to poor decision-making and increased risk.
7. Monitor Your Progress: Regularly review your account performance to ensure you are on track to meet the challenge requirements. Adjust your strategy as necessary to stay aligned with your goals.
8. Seek Support if Needed: If you have questions or require assistance, don’t hesitate to reach out to our support team for guidance.
By following these steps and adhering to the rules, you can increase your chances of successfully passing the challenge and advancing to the next phase.