Hi guys, Thanks for your interest and comments! We'll give detailed answers on Monday! In the meantime, all questions are welcome. PS. Great trading week to you all!
Ok, so let me explain how the Max Trailing Drawdown works: There are 2 things to understand. 1. How your Max Trail Drawdown updates. It never moves intraday. So even if you exceed your Max Trailing Drawdawn, your MTD will be updated in between the trading sessions. Let's say you are trading the 50K (Medium) account and you have a $2000 Max Trailing Drawdown. You start your trading day with an opening balance of $51,000 which means yor minimum account balance is $49,000. You make a $1000 profit, whcih brings your account balance to $52,000, but it doesn't lift your MTD to $50,000 until the end of the trading day. So even if you lose $2500 after your first profitable trade, which will bring your balance down to $49,500, you haven't broken any rules yet. At the end of the day, your MTD will stay where it was, i.e. at $49,000. 2. How we check whether you've broken the rule. For the Practice Session, we compare your current balance AFTER the trading session has finished. For the Qualifying and Funded Session, we check your current account balance against MTD real-time.
So when funded there is an intraday max trailing drawdown to consider? For the Qualifying and Funded Session, we check your current account balance against MTD real-time.
I think he's wondering if the Max Trailing Drawdown MOVES intraday in funded accounts. But you have clearly stated it "It never moves intraday. " The confusion is arising from the difference of rules between the Practice sessions and Qualifying/Funded sessions. It seems the practice gives you more leeway in that you can exceed max drawdown during your session but need to be positive by end of day. And for Qualifying/Funded sessions if your account balance reaches MTD at any time during session then a rule is broken. However this does not mean your MTD has moved at all. Correct?
Seems a maddening scenario. The combines basically say that if you lose 2% of your account value during the evaluation period, you have lost it all. It is a nonsensical idea. But I guess it works for the combines, because people keep signing up for them. And 5 mini-contracts on a $50,000 account? That is NUTS. More than 1 contract is way too risky during these volatile times. *shrugs* But hey, a business model that works is a business model that works.
Yes or No? When qualifying there is not an intraday trail Yes or No? when funded there is an intraday trail