Should You Reset or Restart at Lucid Trading?

Should You Reset or Restart at Lucid Trading?

Not every trader passes their Lucid Trading evaluation on the first attempt. It’s normal to face setbacks, but the good news is Lucid Trading offers a reset and restart system to give you multiple opportunities to succeed. Understanding when and how to reset, and the best approach to take when restarting, can significantly improve your chances of passing the challenge on your next try.

When Should You Consider a Reset?

A reset is typically required when you:

• Exceed the daily loss limit or overall trailing drawdown.
• Violate any specific trading rules set by Lucid Trading.
• Fail to reach the profit target within the challenge time frame.

In these situations, resetting your challenge will restore your account balance to the initial starting point, allowing you to attempt the evaluation again.

How to Initiate a Reset

The reset process with Lucid Trading is straightforward:

1. Log into your Lucid Trading dashboard.
2. Locate your active or failed challenge.
3. Click on the “Reset” option next to your evaluation.
4. Pay the reset fee (usually discounted compared to the original challenge fee).
5. Start trading again immediately with your reset account balance.

Keep in mind, resets are unlimited, but each reset requires a fee.

Reset Fees and Timing

Lucid Trading’s reset fees are generally lower than the original challenge price, providing an affordable way to retry without starting from scratch. Timing is also flexible—you can reset immediately after a failure, enabling you to jump back into trading quickly.

Tips for a Successful Restart

• Review Your Previous Challenge: Analyze your trading journal and dashboard data to identify mistakes and weaknesses.
• Adjust Your Trading Plan: Make targeted improvements based on what you learned.
• Practice More: Spend extra time on demo accounts simulating the challenge environment.
• Mind Your Psychology: Use mindfulness or stress management techniques to stay calm and focused.

When Should You Restart Instead of Reset?

“Restart” usually means starting a fresh challenge cycle, sometimes with a new account or different parameters. Consider restarting if:

• You want to switch to a different account size or challenge type.
• You want to start over with a clean slate after multiple resets.
• Lucid Trading updates their challenge rules or offers new promotions you want to take advantage of.

Restarting may involve re-registering or selecting a new challenge product, so review Lucid’s policies before proceeding.

Additional Considerations

• Unlimited Attempts: Lucid Trading encourages persistence by allowing multiple resets and restarts.
• No Blacklist: There’s no penalty or blacklist for failing or resetting; every trader is given a fair chance to succeed.
• Support Available: Lucid’s support team can assist with reset procedures and offer guidance.

Summary

Resets and restarts are valuable tools on your funded trading journey with Lucid Trading. Use resets wisely to learn from your mistakes and refine your approach. Restart if your goals or trading style change significantly. Remember, perseverance is key—many traders only pass after multiple attempts. Stay focused, follow the rules, and use every reset as a fresh opportunity to succeed.