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Trading rules

The rules, in full

These figures come from the rule set version your account is bound to. They are what the engine enforces, not a summary of it.

Evaluation rules

These figures come from the rule set your account is bound to. They are not edited by hand.

Profit target, Phase 1
10%Of the starting balance
Profit target, Phase 2
5%
Daily loss limit
5%Measured from the start of your day
Maximum loss limit
10%A fixed floor that never moves
Minimum trading days
5
Profit split
80%Your share of the simulated performance

How the daily loss limit is measured

Your daily loss limit is 5 percent of your starting balance, and it is measured from the higher of your balance and your equity at the moment your trading day begins. That figure is fixed for the day. It does not move up if you make money and it does not move down if you lose it.

The day begins at 00:00 server time, which is UTC. It is the same for everybody and it does not follow your local timezone, because a limit that resets at a different moment for each trader is a limit nobody can reason about.

Floating profit and loss counts. A position that is open and losing counts against your daily limit exactly as a closed loss does, because the limit exists to cap the damage your account can take in a day, and an open position can do that damage whether or not you have closed it.

The figure you have left is on screen while you trade and it is on the order ticket before you place the trade. You should never have to work it out.

How the maximum loss limit is measured

Your maximum loss limit is 10 percent of your starting balance, and it is a fixed floor. On a 100,000 dollar account the floor is 90,000 and it stays at 90,000 whether your equity reaches 105,000 or 130,000.

This is the rule most evaluation products do differently, and it is worth being clear about. A trailing drawdown moves the floor up behind your profit, so a trader who reaches 108,000 and falls back to 99,000 has breached even though they are up on the day they started. Ours does not do that. The floor is set when the account is created and it does not move for the life of the account.

It is measured on equity rather than on balance, so an open losing position counts. Breaching it closes the account and every open position is closed at the price at that moment.

What is not allowed

Four things that will fail an account

These are the only prohibited practices, and each one has a definition rather than a judgement call.

  1. Trading on a stale price

    Placing an order against a quote the feed has not updated, or exploiting a gap between our price and the market price. The engine rejects an order priced against a tick older than its staleness window rather than filling it and arguing later.

  2. Group trading and copy trading

    Running the same strategy across several accounts, whether yours or somebody else’s, to take multiple attempts at one outcome. Accounts are compared and matched entries across accounts are reviewed.

  3. Using a third party to trade for you

    Account sharing, signal following where you do not place the trade, and any arrangement where somebody else is trading your evaluation. The account is yours and the result has to be yours.

  4. Exploiting a platform fault

    Trading a pricing error, a latency fault or a bug rather than reporting it. Report one and we will tell you what happened; trade one and the account closes.

Questions about the rules

Can I hold positions over the weekend?
Yes on the standard rule set. Weekend holding, news trading and the maximum lot size are set by the account group your plan uses, and that group is named on the challenge page before you buy.
What counts as a trading day?
A day on which you opened or closed at least one position. Five are required in Phase 1. They do not have to be consecutive and there is no time limit, so five trading days spread over two months is fine.
What is the consistency requirement?
In Phase 2, no single trading day may account for more than 60 percent of your total profit. It exists so that an account passing on one lucky day is not funded on the strength of it. Your current figure is on your dashboard, so you know before the end rather than after.
Do the rules change after I buy?
No. Your account is bound to the rule set version that existed on the day it was created. If we change a rule later, the change applies to accounts created after it. Yours keeps the rules you bought.
What happens the moment I breach?
The account status changes, every open position closes at the price at that moment, and the breach record is written with your equity, the floor, the limit, the actual figure and the calculation behind it. You can read all of it. There is no one line failure notice.
Trading rules