FAQs - Rules
Answers to the most frequently asked questions.
TradingPLUS Step1 is the foundational stage of our evaluation process.
Before you can access your TradingPLUS Account, we must ensure that
you can trade responsibly and effectively manage risk. Your simulated
trades during this phase will serve as a basis for your future trading in
real financial markets.
During the TradingPLUS Step1 stage, you’ll encounter reasonable rules
and guidelines designed to help you succeed. The Profit Target is aligned
with the allowable drawdown, forming what we refer to as the Trading
Objectives.
There is no time limit for achieving the Profit Target, making the Trading
Period indefinite. The minimum requirement to complete TradingPLUS
Step1 is to trade for at least 5 trading days. Once you meet all the
Trading Objectives and your results are reviewed, you can advance to the
TradingPLUS Step2 phase. Below are the Trading Objectives you will
need to fulfill.
Trading period
Having peace of mind is essential for focusing entirely on your trading
performance. To minimize unnecessary pressure on our traders, the
Trading Period is completely unlimited. With TradingPLUS, you can take
all the time you need to reach your Profit Target.
Minimum Trading Days
To fulfill this requirement, you must trade for a minimum of 5 days
during the current cycle, opening at least one position each day. A
trading day is defined as any day when at least one trade is executed. If a
trade spans multiple days, only the day on which the trade was initiated
counts as the trading day.
Maximum Daily Loss
This rule, often referred to as the “trader’s daily stop-loss,” is set at 5%
of your initial account balance. This means that at any moment during
the day (GMT+2), the total of all closed position results combined with
your current floating profits/losses must not exceed this daily loss limit.
The formula for calculating your current daily loss is:
Current Daily Loss = Results of Closed Positions for the Day + Results of
Open Positions For instance, if you have a TradingPLUS Step1 account
balance of $200,000, your Maximum Daily Loss would be $10,000. If you
incur a loss of $8,000 from closed trades, your account cannot decline by
more than $2,000 that day, including any open floating losses. This limit
includes commissions and swaps.
Conversely, if you earn a profit of $5,000 in one day, you can afford to
lose up to $15,000, but not more. Keep in mind that your Maximum Daily
Loss also includes open trades. For example, if you close trades with a
$6,000 loss and subsequently open a new trade that goes into a floating
loss of -$5,700 but eventually turns profitable, it’s too late; your daily loss
would have reached -$11,700 at one point, exceeding the permitted limit
of $10,000.
Be aware that the Maximum Daily Loss resets at midnight (GMT+2). For
example, if you close a day with a $4,000 profit but have an open position
with a floating loss of $13,000, your current daily loss would be $9,000
($4,000 closed profit - $13,000 open position), so you wouldn’t violate the
limit. However, if you hold that position past midnight, the daily loss limit
would be breached, as the previous day’s profit does not carry over into a
new day and the open loss of $13,000 exceeds the $10,000 maximum
allowed.
The Maximum Daily Loss provides traders with enough leeway while
ensuring a clearly defined daily risk for investors. This rule benefits both
traders and investors by preventing account values from dropping below
the established limit, hence it incorporates potential floating losses.
Maximum Loss
This rule can be termed the "account stop-loss." The equity of your
trading account must not fall below 90% of the initial account balance at
any point during the account's duration. For a TradingPLUS Step1
account with a balance of $100,000, the lowest allowable equity would be
$90,000. This calculation considers both closed and open positions
(account equity, not just balance).
The logic is similar to that of the Maximum Daily Loss, but this applies
over the entire duration of the evaluation period rather than just a single
day. This limit also includes commissions and swaps. The 10% buffer
allows traders enough space to demonstrate their account’s suitability
for investment, providing a cushion to keep them in the game even if they
experience initial losses. This assurance benefits investors by ensuring
that a trader's account cannot drop below 90% of its value under any
circumstances.
Profit Target
The Profit Target for TradingPLUS Step1 is set at 10% of the initial
balance, while for TradingPLUS Step2, it is 6%. This means a trader must
achieve a profit from the sum of closed positions on the designated
trading account at any point during the unlimited Trading Period.
Please note that to progress to the next phase, all positions must be
closed. For example, if you are trading TradingPLUS Step1 with a
$100,000 account balance, your profit target would be $10,000 for Step1 and $6,000 for Step2.