Time limit
The maximum number of calendar or trading days allowed to reach the profit target.
Some challenges have no time limit; others give a fixed number of days per phase. A time limit adds a third way to fail: running out of days with the target not yet reached.
The danger is behavioural. Traders who are behind tend to raise risk near the deadline, which raises the chance of a drawdown breach. Before buying, check whether your normal pace reaches the target well inside the limit.
Related
General definition. Rules differ between firms and change over time; your firm’s current terms always take precedence.