Simulated Daily Drawdown
Simulated Maximum Daily Loss | 5%
In the course of one working day, the maximum simulated daily drawdown on the account (which consists of the account’s current result of opened positions and the result of positions closed on the given day) must not exceed 5% of the initial demo balance of the account. Please note this includes simulated commissions.
Reset Time
The simulated max daily drawdown resets every day at 5:00 PM EST. To ensure smooth functionality, we advise our simulated traders to not execute trades in between the window of 4:57 PM - 5:03 PM EST when the drawdown is being reset. Once your last simulated balance/equity (whichever is higher) is pulled for the trading day your dashboard will update with your new simulated Daily Breach Level. This is the amount your account simulated equity must stay above in order to not be breached.
Simulated Daily Funded Drawdown Rules
The following chart shows the daily simulated drawdown loss and overall simulated max loss by account size for the Rapid Challenge.
Simulated Max Drawdown
Simulated Maximum Total Drawdown | 8%
The maximum simulated total drawdown is 8%. Therefore, the equity of the account must not fall below 92% of the initial demo account balance both for open and closed positions, including simulated commissions and simulated swaps.
Violations
Any violation of the rules above will result in the termination of your simulated trading account and you will not be eligible to move forward in the program with that account.
Please note both the simulated daily drawdown and simulated max drawdown breach on an account include simulated commissions, simulated swap fees and simulated dividends (only on ThinkMarkets) as well.
NOTE: All Phase 1 & 2, as well as simulated Funded Accounts, are routed through a simulated feed, therefore simulating real market conditions.