Goatfunded phase 1 challenge account

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@asuquokelvin - 1 month ago - Forex Education

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. 📈

@yokoyi - 1 month ago

For the profit split will you get a payout if you pass this phase? IS it a 1-phase or 2-phase challenge?

@yokoyi - 1 month ago

About the daily reset, it means the Goat Funded Trader dashboard is not updated in real-time, which is surprising because every little prop firm updates the users dashboard in real-time

@asuquokelvin - 1 month ago

Summary of today's EURaud:

I took EURaud buy today on my propfirm account

My observation:

I used a lot size of 0.07 and after the trade a commission of 0.35$ was deducted from my account

Comparison:

0.04 lot size= 0.20$ commission

0.07 lot size= 0.35$ commission

What I observed is that the more lot size you accumulate the more commission is charged from your profits... But on crypto like BTC USD they don't charge commission because of the wide spread

@yokoyi @godspowerdan @nsg_usd

@brenda_lesotho - 1 month ago

Quoted - asuquokelvin

Summary of today's EURaud:

I took EURaud buy today on my propfirm account

My observation:

I used a lot size of 0.07 and after the trade a commission of 0.35$ was deducted from my account

Comparison:

0.04 lot size= 0.20$ commission

0.07 lot size= 0.35$ commission

What I observed is that the more lot size you accumulate the more commission is charged from your profits... But on crypto like BTC USD they don't charge commission because of the wide spread

Sure, commissions are not fixed, they align with the lot size

@asuquokelvin - 1 month ago

Quoted - brenda_lesotho

Sure, commissions are not fixed, they align with the lot size

Although it's the first time am using Goatfunded, we learn everyday

@godspowerdan - 1 month ago

Quoted - asuquokelvin

Summary of today's EURaud:

I took EURaud buy today on my propfirm account

My observation:

I used a lot size of 0.07 and after the trade a commission of 0.35$ was deducted from my account

Comparison:

0.04 lot size= 0.20$ commission

0.07 lot size= 0.35$ commission

What I observed is that the more lot size you accumulate the more commission is charged from your profits... But on crypto like BTC USD they don't charge commission because of the wide spread

What's your profit target on the account

@asuquokelvin - 1 month ago

Quoted - godspowerdan

What's your profit target on the account

I am Still carrying out some studies about commission and other assets how they work before I resume full trading as it is not a free trial account and it's the first time am using them

@godspowerdan - 1 month ago

Quoted - asuquokelvin

I am Still carrying out some studies about commission and other assets how they work before I resume full trading as it is not a free trial account and it's the first time am using them

ohh okay then

@asuquokelvin - 1 month ago

On my goat funded account today I made $16 risking 8$ a 1:2 RR my profit plan daily will entirely depend on my risk for the day my max drawdown is 300$ and a day i can't risk more than 30$ , its not about the biggest profit but its about preserving the capital, with this Method i can exit early and don't accumulate heavy losses

@asuquokelvin - 1 month ago

Quoted - asuquokelvin

For this trade there was no swap or commission fee deducted for Nasdaq

@israeljasspu @godspowerdan @nsg_usd

@asuquokelvin - 1 month ago

Quoted - godspowerdan

ohh okay then

I took a gold trade on my Goatfunded propfirm account and I noticed that gold also has commission cut...they deducted 0.3$ from my profit for gold trade alone

@asuquokelvin - 1 month ago

Quoted - asuquokelvin

I took a gold trade on my Goatfunded propfirm account and I noticed that gold also has commission cut...they deducted 0.3$ from my profit for gold trade alone

This is my gold trade I risked 6$ to make 10$ which is fair but not good because it's 1:1.6RR at least 1:2RR gives a 100% return of the initial capital used.

The trade idea: gold After making a pull back to take out my zone of interest couldn't break strongly above it to confirm that buyers were still in control, so when I noticed it was falling from the higher level of the channel I entered the sells position and held to 10$

@yokoyi - 1 month ago

Quoted - asuquokelvin

This is my gold trade I risked 6$ to make 10$ which is fair but not good because it's 1:1.6RR at least 1:2RR gives a 100% return of the initial capital used.

Nice one

@yokoyi - 1 month ago

Quoted - yokoyi

Nice one

GFT really charges commissions oh, I noticed it too

@asuquokelvin

@asuquokelvin - 1 month ago

Quoted - yokoyi

Nice one

This is my dashboard now, but the dashboard has not actually reset to make it 1 trading day

@asuquokelvin - 1 month ago

Goatfunded phase 1 account

Took a Nasdaq trade today on my propfirm account, risked 12$ and made 25$ targeting 0.5% of the account because for the 3 trading days rules it's not by how many days you open and close a trade that counts, you must make a profit of at least 0.5% for the trading day to count as 1 successful trading day, so my target henceforth will be 0.5% for each day but what I need is just 1 day left , so i can trade with ease not targeting the 0.5% trading day rule.....I got 1 trading day yesterday and when the account reset by the end of today it will reflect 2 days

@yokoyi @godspowerdan @nsg_usd

@thabokgosi - 1 month ago

Quoted - asuquokelvin

Goatfunded phase 1 account

nice sell

@nsg_usd - 1 month ago

Quoted - asuquokelvin

Summary of today's EURaud:

I took EURaud buy today on my propfirm account

My observation:

I used a lot size of 0.07 and after the trade a commission of 0.35$ was deducted from my account

Comparison:

0.04 lot size= 0.20$ commission

0.07 lot size= 0.35$ commission

What I observed is that the more lot size you accumulate the more commission is charged from your profits... But on crypto like BTC USD they don't charge commission because of the wide spread

Most prop firms give preferences to Crypto or indices. But when it comes to commodities and currencies, they charge a lot on those instruments.

@nsg_usd - 1 month ago

Quoted - asuquokelvin

Goatfunded phase 1 account

That's just the best risk for that Account Size. Good Job.

@nsg_usd - 1 month ago

Quoted - asuquokelvin

For this trade there was no swap or commission fee deducted for Nasdaq

Trading Indices especially NAS 100 on prop firm is just the best for me because i noticed they don't charge especially commissions.

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