Evaluation Account Rules:
1. Profit Goal and Drawdown: Maintain your account balance at or above the profit goal while avoiding the max drawdown for your selected evaluation account. Understanding the Trailing Threshold Drawdown is crucial to your success.
2. Minimum Trading Days: You must trade for a minimum of 5 trading days, but the days don’t need to be consecutive.
3. Consistency Rule (50%): During the evaluation phase, there is a 50% consistency rule. This means that no trading day can be larger than 50% of the simulated profits can be made on one day.
Note: we have implemented a small variance for making small amounts slightly greater than 50% of the profit target. If you make 51% on the first trading day and then 49% the next trading day, the account will still be marked as 'passed'.
4. Dollar Cost Averaging (DCA): DCA is allowed during both the evaluation and Pro account phases.
5. News Trading: is allowed. Trading during news is not recommended as liquidity can drastically decrease and volatility can drastically increase, potentially leading to unfavorable fills. Exercise caution during these times.
6. No High-Frequency Trading (HFT): Automated high-frequency trading is prohibited on all accounts.
7. Stop Trading After Passing: Once you pass your evaluation, stop trading immediately to avoid falling below the profit target, which could void your passed status.
8. Evaluation Account Limit: You are limited to holding 15 evaluation accounts at a time. If an evaluation account fails, you must reset it or purchase a new one.
9. Code of Conduct:
Be professional and follow the guidelines. Sharing your login information is not allowed.
Key Rules and Procedures
Closing Trades
All trades must be closed, and pending orders canceled latest by 4:59 PM EST. Day Traders will cancel open positions tied to orders, but you are responsible for manually canceling any other pending orders.
Holiday Trading
You may trade on holidays as long as the market is open, but half-day holidays don’t count as trading days. Agricultural markets and others with early closures require earlier trade management.
Account Monitoring
Keep rTrader open to monitor your max drawdown and manually close trades if necessary. Do not rely on the auto-close feature as a safety net.
Account Status
If you reach the profit goal before completing the minimum trading days, ensure your account balance remains above the profit target. If your account fails and is not reset within eight days, it will be disabled unless you reset or sign up for a new one.
Remember, these rules are designed to guide your success. Review all details before starting your evaluation. Good luck!