The evaluation process for the 1-Step Model at CoveFunded is designed to assess a trader’s performance and suitability for funded trading. Here’s a detailed overview:

Application and Setup:

1. Submit an Application: Traders apply for the 1-Step Model by completing an application process.
2. Account Setup: Once approved, traders receive access to a demo account with specific trading parameters.

Trading Performance:

1. Live Trading: Traders must demonstrate their trading skills using the demo account provided.
2. Profit Targets: Traders are required to achieve certain profit targets within a specified time frame.
3. Risk Management: Traders must adhere to risk management rules, including daily and overall loss limits.

Evaluation Criteria:

1. Consistency: Performance is evaluated based on consistency in achieving profit targets while managing risk effectively.
2. Adherence to Rules: Compliance with all trading rules, including those related to trading hours, lot sizes, and stop-loss requirements, is assessed.

Assessment:

1. Performance Review: CoveFunded reviews the trader’s performance against the established criteria.
2. Decision: Based on the review, CoveFunded decides whether to offer a funded account or require further evaluation.