What you will learn
- Replay rule breaches
- Reconcile provider calculations
- Compare fees and eligibility
- Recognize that passing is not evidence of an edge
Replay rule breaches
Replay the rulebook against an event sequence, not only a final account balance. Include deposits, payouts, fees and open-equity changes where relevant. A rule breach can occur and later disappear from the final snapshot.
Reconcile provider calculations
Compare your calculation with the provider's reported values and investigate differences in timestamps, marks or definitions. Do not quietly adjust the formula to produce the desired answer without identifying the actual rule.
Compare fees and eligibility
Evaluation fees and eligibility conditions affect the economics of participating. Treat repeated resets and purchases as costs in the decision record. A nominal account size is not equivalent to unrestricted capital owned by the participant.
Recognize that passing is not evidence of an edge
Passing an evaluation demonstrates meeting particular conditions over a particular period. It does not establish a durable trading edge, future payout eligibility or personal suitability for larger risk.
Worked example
A strategy ends an evaluation above its target but crossed an intraday loss boundary earlier. A final-profit-only report misses the rule breach and gives the wrong eligibility conclusion.
Try it yourself
Create a replay table with timestamp, balance, open P&L, relevant peak, boundary and breach flag. State how uncertain marks should be handled.
Show the worked solution
Calculate each boundary from the rule's available inputs and preserve the first breach event. Mark missing or uncertain observations explicitly; do not declare compliance when the required evidence is absent.
Apply this to your course project
Model a hypothetical evaluation rulebook and identify paths that breach it despite positive P&L.
Keep the calculation inputs, assumptions and decisions with your work. Practical exercises are self-reviewed; the scored knowledge checks assess the questions shown, not an independent certification of practical competence.