Yesterday, I started my experience with a Goat Funded Phase 1 challenge account. I want to document exactly what happened during my first trading day, especially the way the account handled commission, drawdown, and the daily reset.
🟢 The Trade
I opened a trade on EURAUD using a 0.04 lot size.
The trade eventually closed in profit with approximately $2 profit.
However, one thing immediately caught my attention: $0.20 commission was deducted from the account.
So although the trade made around $2, the account balance reflected the commission deduction as part of the overall account calculation.
💰 Drawdown Structure
For my account, the limits are:
- Daily Drawdown: $150
- Maximum Drawdown: $300
- Profit Split: 80%
- Consistency Rule: No consistency rule
- Minimum Trading Days: 3 days
One important thing I noticed is that the commission is included in the account's balance/equity and therefore affects the available drawdown figures.
This means traders should not look only at their trade's floating or closed P&L. The commission also needs to be considered when monitoring the account.
⚠️ Something I Noticed About the Daily Reset
Another thing I noticed yesterday was the daily drawdown reset.
After closing my EURAUD trade with approximately $2 profit, I expected the daily drawdown calculation to reset automatically.
It did not reset immediately.
Instead, the account remained on the previous calculation until the account-reset countdown reached its reset time.
This is something I think new Goat Funded traders should understand because it can affect how you calculate your available daily risk.
🧠 My Lesson From Day 1
My biggest takeaway from the first day is that I shouldn't treat the $150 daily drawdown as money I can freely risk.
There are other factors to account for, including:
Trade loss + commission + current equity/balance + remaining drawdown.
For a challenge account with a $300 maximum drawdown, protecting the account is more important than trying to make large profits quickly.
I would rather take controlled setups and build the account gradually than get close to the drawdown limit trying to pass Phase 1 quickly.
📌 Day 1 Summary
Account: Goat Funded Phase 1
Pair: EURAUD
Lot size: 0.04
Trade result: Approximately +$2
Commission: $0.20
Daily drawdown: $150
Maximum drawdown: $300
Profit split: 80%
Consistency rule: None
Minimum trading days: 3
Reset observation: Daily figures did not reset immediately after closing the profitable trade; the reset occurred according to the account's countdown/reset time.
This is only Day 1 of my Goat Funded Phase 1 journey. I’ll continue documenting what I experience, including how the drawdown, trading days, commissions, and account reset work in actual trading.
Day 1: Small profit, but a useful lesson. 📈
