- Although there are time restrictions, do not allow this to be a mental block causing irrational decision making.
In reality, there is plenty of time to pass the challenge. - For instance, firms such as MyForexFunds also permit traders with an extension at discretion if the target to reach is close and the trader requires some more time. FTMO also grant a 14 day extension on top of the 30 day allowance if the trader is above 5% profit in phase 1 evaluation at time expiration.
TrueForexFunds offer unlimited retries on stage 1 and 2 of the evaluation provided the account is not in a loss at the end of the time period allowed.
- Once funded , patience as a trader is always required , to wait for the right setup, placing pending orders as opposed to market execution, allowing the trade to play out according to plan.
Adhering strictly to your rules allows to trade day in day out without any additional stress as you know what to expect. It is a good idea to keep these rules in view throughout the trading session.
Here is an idea of some rules/reminders to follow.