Regularity, Consistency, Coherence Policy at Phidias Propfirm
At Phidias Propfirm, we attach great importance to discipline, consistency and security in our trading operations. Our commitment to our traders is based on strict principles aimed at maintaining the integrity of our business and fostering stable growth for all parties involved. Here are our essential guidelines for funded accounts :
1. Defined Trading System : We are looking for traders who have developed a precise and well-defined trading system. This system must include clear rules for entries, stops, profit taking, drawdown management and exits. Discipline and consistency in applying this system are essential.
2. Coherence of Operations : Traders must maintain consistency in position size, number of trading days, and risk management. We encourage stability and consistency, rather than erratic movement of contracts to meet specific targets. DCA (Dollar Cost Averaging) is permitted to smooth entry points. Results attributed to the trader are calculated on the basis of trades actually executed and entered into the market. Any attempt to exploit the simulated environment will result in loss of account access.
3. No Automated Trading and High Frequency Trading (HFT) :The use of robots, fully automated trading algorithms, or any other form of automated trading is not permitted. Only semi-automated software is permitted, provided the trader actively monitors and manually adjusts all trades.
4. Avoid Speculative Transactions : We strongly discourage traders from seeking out exceptional trades or attempting to accumulate funds quickly by taking excessive risks. We do not support “one-time withdrawal” strategies or fraud attempts, and we expect traders to follow a responsible trading approach.
5. News Trading : Trading in economic news is permitted on all account types.
6. Respect and Professionalism : Traders must treat our staff, partners and other traders with respect and professionalism at all times. We encourage positive and professional interactions, whether in our trading groups, on social media or elsewhere.
7.Profit Limits : To maintain consistency, we impose profit limits for CASH accounts. Under no circumstances should the profit balance from a single trading day exceed 30% of the total balance. This rule is designed to discourage excessively risky transactions. More details on the 30% consistency rule here: 30% consistency rule on Phidias Propfirm accounts
8.Contract expiration : You are required to trade the highest volume and most recent contract for the instrument you wish to trade. Trading in illiquid and low volume contracts is not permitted. It is therefore prohibited to practice spread trading between two maturities on the same product.
9. US Treasury bonds (UB, ZB, ZN, ZF and ZT) : Arbitrage strategies on Treasury bonds for one (1) tick cannot be reproduced under real conditions with satisfactory executions. To avoid any problems, we are banning this practice on both valuation and funded accounts from 31.07.2024. Any trader wishing to use Treasury bonds must contact us to activate CBOT market data. All other Treasury bond strategies remain authorized. Special attention will be paid to payment requests related to bond trading. For several weeks now, our teams have been carrying out in-depth tests on US bond strategies. Many traders use this type of strategy, and we wanted to make sure that we remained as objective as possible with regard to this practice. This type of strategy cannot be applied to real markets.
We are looking for serious and disciplined traders, committed to following a trading system with regularity and working long term for stable growth. The rules set out above aim to guarantee the quality and integrity of our operations.
If you have any questions or need further clarification, please do not hesitate to contact-us.