The Redemption Challenge is a unique feature within the Tradiac Funded Trader Program designed to help traders maintain their progress on their journey to scaling to $1 million. It’s a system that acknowledges the inherent difficulties of trading and offers a lifeline to traders who may have hit a risk management failure (RMF) due to daily loss or max loss rules.
In the event of an RMF, the Redemption Challenge allows traders to revert back to the funding amount they had previously succeeded at and undertake an additional assessment at that level. For instance, if a trader on the $100,000 scaling package has progressed to $400,000 but hits an RMF at that level, they can return to the last level they passed ($300,000) and take a redemption assessment at that level. Upon passing the redemption test, the trader resumes their journey with a $300,000 funded account, continuing their path towards the $1 million goal.
The Redemption Challenge was created with the understanding that trading can be challenging and that a single setback doesn’t necessarily indicate a bad trader or a flawed strategy. It’s a feature that promotes resilience, encouraging traders to pick themselves up and continue their journey. It also provides a more realistic path to scaling to $1 million or more, giving all traders a better chance of reaching larger accounts and larger payouts.
Traders have unlimited opportunities to purchase a redemption test, with the only condition being a 30-calendar-day window to decide to purchase the redemption following an RMF. If a redemption is not purchased within this time, the trader will lose their progress and will have to begin again from the starter packages.
The cost of redemption is calculated as the base capital of the trader’s most current scaling level multiplied by 0.95% / 1.4% / 1.9% depending on the trading track. The respective percentages apply to the Tradiac (0.95%), Braniac (1.4%), and Maniac (1.9%) tracks.
This test mirrors the initial assessment, requiring the trader to reach the profit target without hitting the daily loss limit or the max loss limit. Upon passing, the trader is given a new funded account at the level they passed and can continue their journey to $1 million.
If a trader fails the redemption test, they are given the opportunity to purchase another redemption test, maintaining the principle of unlimited redemption opportunities. However, the 30-calendar-day window to decide to purchase the redemption still applies.
In conclusion, the Redemption Challenge in the Tradiac Funded Trader Program is a testament to the program’s commitment to helping traders succeed and reach their full potential. It encourages resilience, perseverance, and continuous learning, which are all essential traits for success in trading.