Swing Trading Prop Firms with No Minimum Days: Your Ultimate Guide

Introduction

What is Swing Trading?
Swing trading targets multi-day to multi-week price movements in financial markets. This method focuses on capitalizing on directional swings exhibited by price charts, often influenced by technical structures, macroeconomic catalysts, and liquidity cycles. Typically, swing traders hold positions for 2 to 10 days, utilizing daily and 4-hour charts for trade entries and implementing trailing stops for risk management.

This trading approach finds an optimal balance between day trading, characterized by rapid transactions within a single day, and long-term investing, where positions are held for several weeks or months. Swing traders tend to engage with fewer trade signals, yet each signal is afforded ample room to develop. Consequently, the trading rules for swing trading must necessarily allow for overnight and possibly weekend holds, while also accommodating the drawdowns associated with natural pullbacks during trends.

Importance of Prop Firms for Swing Traders

For swing traders, prop firms serve a crucial role, primarily because they offer access to larger capital and enforce risk management controls. These firms enable skilled traders to execute larger notional sizes while adhering to risk parameters that instill discipline, such as daily loss limits, maximum drawdown thresholds, and expectations for consistent performance. Transitioning from a small personal trading account to a prop account can significantly amplify position sizes without proportionally increasing personal risk.

Many successful traders find that a Trader Network can significantly boost success by providing a community of like-minded professionals. Transitioning from a small personal trading account to a prop account can significantly amplify position sizes without proportionally increasing personal risk.

However, not every prop firm's evaluation process aligns with swing trading dynamics. The best swing trading prop firms with no minimum days afford traders the flexibility to quickly pass evaluations when favorable conditions arise, hold positions overnight and through weekends, and avoid restrictive rules that penalize successful, longer-term strategies. This guide is designed to highlight the essential attributes that prospective swing traders should consider when selecting a prop firm.

Quick Shortlist of Swing-Friendly Prop Firms

Top Prop Firms Offering No Minimum Trading Days

The following is a curated list of firms known for accommodating swing trading strategies, specifically providing no minimum trading days or similar flexible policies. Always confirm the current regulations, as prop firm policies frequently change.

• FTMO (FTMO Swing): Offers a “Swing” account type specifically designed for holding trades overnight, through weekends, and around significant news events. This firm utilizes a two-step evaluation model, notable for its clear rules and robust infrastructure. Learn more about FTMO in this detailed review from Investopedia on prop firms.

• E8 Funding: Known for typically having no minimum trading days and a general alignment with swing trading strategies. This firm also employs a two-step evaluation process with manageable profit targets and loss limits. Find insights about E8 Funding by checking their official website.

• The 5%ers: Recognized for offering “no time limit” evaluations and swing-friendly conditions, allowing traders to wait for high-quality setups unhindered by urgency. Explore their offerings in detail at The 5%ers.

• City Traders Imperium (CTI): Provides both one-step and two-step options, with no time limits on certain programs. Typically accommodates swings and longer holds; students should verify specifics for each program. More information can be found on their site.

• SurgeTrader: Features a one-step “instant funding” evaluation, allowing for overnight and weekend holds as well as trading through news events. Trailing drawdown is standard; swing traders should adapt their position sizes accordingly. Check out their policies at SurgeTrader's website.

• FundedNext: Users report no minimum trading days alongside swing-permissive rules, though recent changes have occurred, necessitating confirmation before enrolling. Visit FundedNext for current updates.

• Smart Prop Trader / Funding Pips and Similar Peers: These firms have advertised no minimum trading days with swing-friendly policies, but it is essential to verify news and overnight rules pertinent to specific account types.

Futures Prop Firms (Contrast)

Most traditional futures firms (such as Topstep, Apex, Leeloo, and Earn2Trade) do not optimize for swing trading, requiring flat positions by the session's close, and often imposing minimum trading day requirements. A futures prop can accommodate a “multi-day swing” approach, provided traders are willing to re-enter across sessions rather than maintaining single positions for prolonged periods.

Understanding Firm Rules for Swing Trading

Overnight and Weekend Holds

Holding trades overnight is essential for swing traders. If a trader cannot maintain positions beyond the New York close, they risk entering into a cycle of re-entries, that subsequently adds transaction costs, including spread and slippage. For a firm to support these strategies, they must focus on Developing a Risk Management Framework that accounts for market gaps.

• Overnight Holds:
  It is vital to ensure that your account type explicitly allows overnight positions. Some firms differentiate between "normal" accounts and “swing” accounts, which can have different leverage and spread arrangements.

• Weekend Holds:
  Weekend holds can be particularly beneficial when positioning for macroeconomic trades (e.g., anticipating central bank decisions or geopolitical events). However, traders should be cautious of potential market gaps that can occur over weekends.

News Trading and Holding Through Events

Major news releases, such as CPI, NFP, and central bank announcements can induce volatility, including widened spreads and diminished liquidity. Some firms may restrict trading around news releases, while others allow traders to hold existing positions but discourage the initiation of new trades during these periods.

- If your trading strategy relies on the outcomes of news events, confirm whether the firm allows holding through such occurrences.

Drawdown Types: Static vs. Trailing

The type of drawdown model employed by a prop firm heavily influences everything from position sizing to overall trade management.

- Static Drawdown:
This model anchors maximum drawdown to the starting balance (e.g., 10%). This form is generally more favorable for swing trading, as unrealized equity gains do not diminish the allowable drawdown.

- Trailing Drawdown:
This model adjusts in accordance with new equity highs. Some firms may implement trailing based on account balance (realized profit and loss), while others adopt an equity-based approach, including floating gains. A trailing drawdown on equity can shrink your risk buffer if your floating profit decreases.

Minimum Days vs. No Time Limit

The two terms, while seemingly similar, hold different implications for traders:

- No Minimum Trading Days:
This means that traders can pass the evaluation as soon as they reach the profit target without necessitating multiple trades over several days.

- No Time Limit:
In this scenario, traders are not constrained by a deadline to achieve their target; they have the flexibility to take as much time as needed. For swing traders, a “no time limit” approach often proves more advantageous than simply “no minimum days” since it allows for waiting for the most favorable trading setups.

Comparative Analysis of Prop Firm Rules

Evaluation Phase Rules

Evaluation phase rules differ across firms. Two-step models typically require higher profit thresholds in phase one (e.g., 8–10%) and lower ones in phase two (e.g., 5%). One-step models usually consist of a single target (e.g., 8–10%) and defined drawdown parameters.

- Phase Variations Matter:
Some firms may ease daily loss limits during phase two or alter profit targets. As a swing trader, I have found that consistency across phases is crucial to avoiding adjustments in sizing logic mid-evaluation.

Daily Loss Limits and Profit Targets

Typical parameters are as follows:

• Daily Loss Limit: 4–5% of initial balance.

• Max Overall Loss: 8–10% (either static or trailing).

• Profit Targets: 8–10% for one-step models and approximately 8–10% in phase one and 5% in phase two for two-step evaluations.

For an account balance of $100,000 with a 5% daily loss and 10% overall drawdown, while targeting 10% in phase one, I meticulously plan my risk per trade to allow for at least two consecutive losing days without breaching the daily limit. For example, I often risk 0.75–1.00% per trade, executing only one trade per day or maintaining a single net risk until stabilization. When building these systems, firms often consult a Starting a Prop Firm Checklist to ensure their parameters are competitive but sustainable.

Consistency Rules

Consistency rules can include:

• Limitations on a single day’s profits (e.g., no day may exceed 30% of total gains).

• Requirements for consistent lot sizing (averaging within a certain band).

• Prohibitions against martingale-style trading increases.

When holding positions for multiple days, a significant win may trigger a consistency rule. If a firm enforces these limits, consider throttling position additions and stagger exits to ensure that profits are distributed beyond single trading sessions.

Decision Matrix for Swing Trading Strategies

Choosing the Right Model for Your Style

A quick decision matrix to consider is as follows:

• One-step/Instant Funding: Best suited for traders whose edge leads to strong, infrequent trends. Passing the evaluation quickly in a single swing can be achieved, but be cautious of trailing drawdowns and tighter daily limits.

• Two-step Evaluation: More beneficial if you prefer structured milestones and anticipate trading multiple swings each month. Often comes with static drawdown, which tends to be advantageous for durability.

• No Time Limit Programs: Perfect for those who rely on infrequent but high-quality setups. This model minimizes pressure to overtrade.

Risk Parameters for Swing Traders

A basic risk template for a $100,000 evaluation account might include:

• Risk per Trade: 0.50–0.80% (for static drawdown) or 0.30–0.60% (for trailing drawdown).

• Correlation Cap: Ensure net risk across correlated pairs does not exceed daily loss limits (e.g., holding both EURUSD and GBPUSD positions counts as a single macro dollar-short risk).

• Add-ons: Add to your position only after securing partial profits and moving the stop-loss for the initial position to breakeven.

• Exposure Management: If you plan to hold through the weekend, consider scaling down on Fridays after the London close to mitigate worst-case gaps, keeping the potential risk within 50% of the daily limit.

Cost-Risk Math for Swing Trading

Fees vs. Probability of Passing Evaluations

The likelihood of passing a prop firm evaluation involves strategic calculations. Consider this two-step evaluation model:

• Account Size: $100,000

• Fee: $499

• Profit Targets: 10% in phase one, 5% in phase two

• Drawdowns: 5% daily, 10% total

Your probability of passing hinges on your win rate and payoff ratio. Assume your swing system holds a 45% win rate, coupled with a 1.7R average winner and 1R average loser. Over a set of trades (10-20), this expectancy generally remains positive but can be streaky.

Scenario Modeling

If you expect approximately eight trades to reach the 10% target (considering partial closes and pyramiding), you would need around 8–10R cumulatively. This is achievable with a couple of 2–3R wins and a handful of smaller wins, provided you don’t exhaust your daily loss limits on losing trades.

Calculating the expected cost to pass would entail utilizing the equation: expected fee = fee / probability. If the pass likelihood stands at 30%, the expected fee becomes approximately $1,663. If a firm refunds the fee upon successfully passing, this reduces long-term costs significantly. Conversely, compare it against one-step models, which may present higher pass rates for your style but less favorable drawdown structures.

Impact of Swap and Commissions on Multi-Day Holds

Fees associated with financing and trading can significantly impact swing traders. An excellent Prop Firm Tech setup will clearly display these costs within the dashboard.

• Swaps: If you’re long on a currency that has lower interest compared to the counterpart you’re shorting, you will incur nightly negative swaps. For instance, holding long positions of 2.0 lots of EURUSD could cost roughly $10–$14 each night depending on the broker and rates. A span of six nights could wait on about $60–$84 in total swap fees. On favorable setups (2R profit), this cost may seem minor, but tighter setups may see the swap eating into profits.

• Commissions/Spreads: An all-in cost of 0.8–1.2 pips on major markets is generally acceptable for multi-day trades, but it is wise to check whether spreads widen during roll or news events and avoid scaling in during illiquid periods.

• Indices/Commodities: Overnight financing for indices and commodities can be higher. For instance, holding a US30 long position over nine sessions imposed nightly fees of around $8–$12 per contract. While acceptable within a 4R move, these costs ultimately influence your break-even points.

Risk Management Templates for Swing Traders

Position Sizing for Static vs. Trailing Drawdown

Static Drawdown Template:

• Risk per Trade: 0.6–0.8% of initial balance.

• Maximum Concurrent Risk: Should remain within the daily loss limit (example: 5%). For two uncorrelated swings, position risks can be split equally (0.5% + 0.5%).

• Pyramiding: Additional positions should only be added after moving the original stop to breakeven and securing partial profits. Each added position should risk no more than half of the initial risk to maintain concentration risk levels.

Trailing Drawdown Template:

• Initial Risk per Trade: 0.3–0.5%.

• Lock-in Early: Shift your stop to breakeven sooner to prevent the trailing line from advancing too aggressively.

• Partial Take-Profits: Realize gains incrementally to ensure that the realized balance increases the trailing line in your favor rather than relying on floating equity.

Handling Gap Risks for Weekend Holds

• Scale Down: Reduce exposure by 30–70% by Friday afternoon unless your thesis critically depends on weekend events.

• Hedge or Diversify: If allowed, balance positions that might offset macroeconomic risks.

• Establish Hard Stops: Set wider disaster stops that remain valid over weekends, providing a safeguard against market swings upon opening.

• Alternative Strategy: Closing positions on Fridays and re-entering on Mondays is another route, though it may incur additional spread costs from trading at different times.

Keeping Up with Policy Changes

Policy Watchlist

Before committing to a fee, confirm details on Firms that prioritize The Impact of User Experience (UX) on their websites usually make these rules much easier to find and understand.

• Minimum trading days and time limits.

• Overnight and weekend holds.

• News trading rules, including open/close stipulations.

• Types of drawdown: static vs. trailing; the difference between equity- and balance-based.

• Daily loss limits and overall loss thresholds.

• Consistency and lot sizing rules.

• Scaling procedures and payout schedules.

• Slippage, spreads, and commissions (ideally through a demo with their liquidity provider).

• Policies regarding advanced trading methods (e.g., EA/copy trading/hedging).

• Platform options and server times (considering rollover timing).

How to Audit Terms and Conditions

• Always read the official terms and conditions instead of solely relying on marketing content.

• Engage with live chat or email support to clarify ambiguous areas of the agreements. Document conversations for reference.

• Take screenshots of the rules on the day of purchase to preserve a record against potential future amendments.

• Backtest your strategy under their rules to verify if your typical two consecutive loss days can be executed without violation.

• Conduct a one-week demo to validate spreads, fees, and find swap rates on desired trading pairs. For effective backtesting methods, refer to this guide from BabyPips.

Detailed Examples and Use Cases

Example 1: Two-step Evaluation with Static Drawdown

• Account: $100,000, two-step evaluation.

• Rules: 5% daily loss, 10% overall static drawdown, 10% target phase 1, and 5% target phase 2.

• Strategy: Focus solely on EURUSD and XAUUSD swings, utilizing ATR for stop placements.

• Position Sizing: 0.7% risk per trade, limiting active trades to one unless correlations are sufficiently low.

• Results Path: Achieved two 2.5R wins and two 1R wins over 11 trading days, encountering three losers. Phase 1 target reached at 10.1%. The absence of a time restriction in phase two alleviated pressure, facilitating completion with minimal drawdown.

What Made It Work: The implementation of a static drawdown permitted holding a 4-day position in EURUSD, which temporarily dipped 0.6R intraday without diminishing my risk budget.

Example 2: One-Step Model with Trailing Drawdown

• Account: $50,000, one-step with trailing drawdown on equity.

• Target: 8%.

• Plan: Initiate short positions on NAS100 aligned with rising yield trends; plan to scale on breakdowns.

• Sizing: Begin with 0.35% risk, reducing to 0.25% on the first add after securing breakeven on the original position.

• Outcome: Captured a 4R profit intraday, which I partially locked in. This ensured the trailing line moved higher. A gap up on the subsequent day reversed 1.5R, but because profits were already realized, my trailing buffer remained intact.

Key Lesson: On trailing drawdowns, it is prudent to lock in profits sooner than traditional practice to safeguard the trailing line.

Example 3: No Time Limit Program with Sporadic Entries

• Account: $80,000, enrolled in a no time limit evaluation.

• Target: 12% in a single-step model.

• Approach: Restrict trading to clear 4H/daily trend pullbacks on pairs like AUDUSD and USDJPY while avoiding messy, choppy market conditions.

• Timeline: Achieved pass within 47 calendar days with just six total trades; most of the time was spent waiting for optimal setups.

Why It Worked: The absence of time-related pressure enabled me to forgo subpar trade opportunities. Had a 30-day limit been in place, I likely would have been tempted to enter less favorable trades during weeks three or four.

FAQ

1) Which prop firms have no minimum trading days for evaluations?

Numerous forex and CFD-focused firms, such as E8 Funding, Funding Pips, Smart Prop Trader, and FundedNext, are known for their “no minimum trading days” policies. FTMO has at times required minimum trading days but now offers a swing account type that is well-suited for swing traders. Always verify current regulations on the firm’s official site before enrolling in an evaluation.

2) Do any firms permit overnight and weekend holds for swing trading?

Indeed. Look for account types specifically labeled as “swing” or “no restrictions” (e.g., FTMO Swing). Several one-step or instant funding models also permit overnight and weekend positions. Conversely, most futures prop firms require positions to be closed by session end, making weekend holds generally prohibited.

3) What’s the distinction between “no minimum days” and “no time limit”?

“No minimum days” indicates that you may pass the evaluation in a single day if reaching the target. In contrast, “no time limit” means you are under no deadline pressure to achieve the target, you can take as long as necessary. For swing traders, having no time limit generally proves more useful.

4) Is a trailing drawdown or static drawdown preferable for swing traders?

Typically, static drawdown is favored. Trailing drawdowns may force early profit-taking, compromising risk buffers during active swings. If forced to engage with a trailing model, prioritizing early profit locks is advised.

5) Am I able to hold positions through high-impact news with prop firms?

Policies vary significantly; some firms allow it while others do not or differentiate between holding existing positions versus opening or closing trades. If your trading strategy hinges on market-moving news, choose a firm that permits holding, and consider sizing down in anticipation of wider spreads and potential slippage.

6) What evaluation model is most suitable for swing trading?

• One-step: Suitable for those who capitalize on large, sporadic winning trends, quick passing can be an advantage.

• Two-step: Ideal for those seeking structured milestones, with potentially beneficial static drawdown protocols.

• No time limit: Best for traders who focus on rare, quality setups without the pressure of trading deadlines.

7) How do overnight financing fees affect swing trades within prop firms?

Financing fees significantly impact net profits. On currency pairs, nightly swap costs can add up, particularly over long holds, while indices often have elevated overnight financing. Traders should incorporate expected financing costs into their risk-reward calculations. The Forex Factory forum is a good resource for discussions on swap rates and fees.

8) Are there consistency rules that complicate swing trading in prop evaluations?

Certain firms impose restrictions on how much profit can accumulate in a single day or enforce uniformity in lot sizes. Particularly for swing trades leading to substantial profits, be mindful of these limits and stagger your exits to maintain compliance.

9) What risk parameters should swing traders apply to successfully pass evaluations?

As a general guideline, consider a risk range of 0.5–0.8% per trade for static drawdown assessments and 0.3–0.6% for firms using trailing measures. Limit cumulative correlation-adjusted risk within the daily loss cap, and add positions only after securing partial profits and moving the initial stop to breakeven.

10) Do futures prop firms have distinct rules regarding overnight or holiday trading compared to forex/CFD firms?

Yes. Most futures evaluations mandate that positions be closed before the exchange closes, which typically prohibits weekend holds. This framework necessitates re-entering positions across sessions rather than maintaining continuous positions, complicating multi-day swing strategies.

Conclusion

Summary of Key Takeaways

• Flexibility and Speed: Swing trading prop firms offering no minimum days allow traders to efficiently capitalize on favorable setups without unnecessary delay. Learn about the core characteristics of prop firms from CMT Association.

• Critical Rule Sets: For swing traders, the most pertinent rules include permission to hold positions overnight and on weekends, the benefits of static drawdown, feasible daily loss limits, and absence of time pressure.

• Cost Consideration: Appropriately factoring in swap costs, spreads, and trading commissions is critical for multi-day holds. Opt for firms with advantageous trading conditions to maximize profitability.

• Effective Risk Management: Implement strategies encompassing smaller per-trade risks, correlation caps, and tiered exits to adhere to daily and overall drawdown limitations.

• Swing trading prop firms offering no minimum days allow traders to efficiently capitalize on setups without unnecessary delay. The most pertinent rules include permission to hold overnight, the benefits of static drawdown, and the absence of time pressure.

• By choosing a firm that aligns with your strategy and understanding The Business Model of Prop Firms, you can better navigate the path to becoming a successfully funded trader.