Goat Funded Trader raised the news trading profit limit from 1% to 3% of the account size. The prop firm announced the changes on November 11 and rewrote three rules at once in its evaluation programs.
A prop firm gives a trader an account on its own terms and under its own rulebook. News trading means trades placed at the moment macroeconomic data is released. Copy trading means identical orders placed simultaneously across multiple accounts via a copier program.
These three points are classic friction points in evaluations. That is why everyone trading on someone else's account should check them.
What exactly changed?
- News trading limit - from 1% to 3% of the account size. This is the share of profit counted toward trades made within the data release window.
- Minimum time in a trade - from 2 minutes to 1 minute.
- The copy trading rule - abolished.
Why did the company do this?
All three rules were getting in traders' way during evaluations. The company removed the most noticeable restrictions.
- Sharp moves. Inflation, employment reports and central bank decisions move the market the most. The dates of these events are in the economic calendar.
- The price of entering on news. Slippage and widening spreads come along with the move, and the trader was hitting the one-percent ceiling.
- Two minutes in a position. Holding that long prevented exiting fast moves earlier.
Who do the new conditions apply to?
The new rules are already included on fresh Goat Funded Trader accounts.
- Old accounts - automatic migration is not confirmed. There you need to check your own version of the rulebook.
What stayed the same?
One barrier was removed, not all of them. The company did not change the drawdown limits.
- Profit above 3% in the news window is still capped.
- One minute instead of two does not make any scalping allowed.
- Abolishing the copy trading rule does not remove account ownership requirements or the list of prohibited practices.
Key point: before applying for an account, check your own version of the rulebook, and it is more convenient to compare the terms of different companies in the prop firm catalog.
Do you know what your rules say about news?
Three lines of a rulebook decide a lot: the profit limit around data releases, the minimum time in a trade, order copying. Every prop firm writes them differently. Most often they are read only after a payout request has gone to review. Before the first trade on someone else's account, you should know exactly how these three points are written in your program. In the catalog, the terms sit side by side and are updated when companies amend them.