If you want to gain access to serious capital through the right platform, the path begins with passing prop firm challenge evaluations. For crypto-focused traders, the opportunity is even more compelling. With a funded account trading programme, you can leverage a firm’s capital rather than only your own. At Bitfunded, for example, traders gain access to accounts of up to 100,000 USDT on a simulated basis while working toward a profit split of up to 90%.Below are practical tips for crypto trading traders preparing for the simulated trading challenge phase. These suggestions also consider what to look for when selecting the best prop trading firm for beginners.
1. Understand Evaluation Rules Before You Trade
Before starting, take time to review the evaluation terms. Prop firms set metrics such as profit targets, drawdown limits, maximum daily loss, trading instrument restrictions, and allowed leverage.
For crypto-prop programmes in particular:
- Markets run 24/7, and liquidity can shift quickly.
- Some firms limit the number of crypto pairs or restrict high-volatility altcoins.
- Important: treat the challenge like a professional assessment, not a casual demo.
Make a checklist of rules (profit target, drawdown, max trade size, allowed assets). Use this to guide your strategy, and ensure you don’t inadvertently breach any condition.
2. Build a Strategy Aligned to Crypto Markets
Crypto markets differ from many traditional markets in key ways:
- They operate 24/7 with varying liquidity depth depending on the token.
- Price swings can be large and quick, so risk management must be tighter.
- News, token releases, exchange announcements, and macro events can move the market sharply.
Here’s how to build a strategy:
- Choose a small set of crypto assets you understand (e.g., BTC/USDT, ETH/USDT).
- Define clear criteria for entering trades (technical signals, liquidity breakout, news catalysts).
- Define stop-losses and target ratios in advance.
- Back-test your plan in your own demo environment. One trader reported spending weeks back-testing before taking on a challenge.
3. Manage Risk Relentlessly
Risk management is the single most common differentiator between those who succeed and those who don’t in challenge modes.
Key risk-management tactics:
- Limit risk per trade: Many challenge-passers keep risk to under 1% of the account per trade.
- Daily drawdown cap: Respect the maximum-loss-per-day rule and stop out when you hit it.
- Avoid overtrading: more trades do not mean better results; discipline does.
- Use stop-loss orders always: Never leave large positions unguarded in a 24/7 crypto market.
- Keep a trading journal: Note down why you took a trade, what you expected, and what you got. This builds awareness and control.
4. Stay Emotionally Balanced and Focused
In a simulated trading challenge, your mindset still matters as much as your strategy. Because you’re trading in a “challenge mode”, it’s easy to feel like you’re racing to hit the target. But many sources caution against that.
Focus on process over outcome:
- Treat each trade as if your own capital is at risk.
- Don’t chase big wins just to meet a profit target that violates to rules.
- Review your performance daily; if you’re emotionally tired, step back for the day.
- Surround yourself (even virtually) with other disciplined traders. Peer accountability helps.
5. Choose the Right Prop Firm
For beginners, especially, selecting the right firm is as important as executing the strategy. Here are the criteria to consider:
- Does the firm allow crypto trading (not all prop firms do)?
- Is the evaluation structure fair (reasonable profit target, clear drawdown limits, no hidden rules)?
- What’s the profit split offered once funded? Many top crypto-prop firms advertise splits between 80-95%.
- Are the account sizes and scaling potential aligned with your goals? Example: some firms offer accounts from $10,000 up, with scaling to much larger sizes.
- Reputation and transparency matter. Check reviews and make sure the firm’s terms are clear.
At Bitfunded, you can begin with a simulated account (up to 100,000 USDT) and aim for up to 90% profit split once funded.
6. Practice the Challenge Style Until You Pass
Many traders treat the challenge as a sprint. Instead, treat it as part of your trading career. A trader documented passing a challenge only after dozens of trades and about 6 weeks of consistent performance.
Some firms offer “free retakes” or use a two-step evaluation structure. Practice until you can consistently meet the rules and achieve positive performance in demo mode. Then the real challenge becomes easier.
7. Once Funded, Maintain Consistency
Securing the funded account is only the beginning. From here on, you’ll be trading live capital, and maintaining discipline becomes even more important. Many firms still monitor rule compliance, risk parameters, and trading behaviour post-funding.
Keep your strategy simple, keep risk constant, and keep a consistent journal. Scaling up should be gradual, not haphazard.
Final Thoughts
If you’re serious about crypto trading and looking to access capital through a prop trading setup, the journey starts with preparation, discipline and selecting a good partner. Aim to meet the conditions of your evaluation programme precisely while building a steady trading rhythm. Once you’ve completed the passing prop firm challenge, a funded account trading opportunity awaits. Focus on consistency, guard against rule violations, and keep building your capability. Begin with a challenge like the one offered by Bitfunded, design your strategy, risk-control plan and mindset accordingly, and you’ll place yourself firmly on a path toward trading success.
Frequently Asked Questions
1. What is a simulated trading challenge, and how does it differ from live trading?
A simulated trading challenge uses virtual funds to test your skills under firm rules. Once you pass, you move to live funded account trading using real capital.
2. How much capital will I get once I pass the challenge?
After passing prop firm challenge evaluations, firms usually offer funded account trading between $10,000 and $100,000, depending on your performance, risk management, and profit consistency.
3. Does the crypto market make passing a prop firm challenge harder?
Yes, crypto trading is volatile and open 24/7, demanding strict discipline and risk control. However, a consistent strategy helps traders succeed despite unpredictable market conditions.
4. How important is risk management when attempting a challenge?
Risk management is essential for passing prop firm challenge programs. Keeping losses within limits, using stop-loss orders, and maintaining position-size discipline increase your chances of success.
5. After earning a funded account, do I need to change my style?
No major changes are needed. Maintain consistency, respect drawdown rules, and manage risk carefully to retain your funded account trading privileges and build sustainable profits.