How the static drawdown evaluation works
How to qualify
The static drawdown evaluation has a minimum account balanace that never moves. It's simple and easy to follow. Trade a minimum of 5 days. Hit your profit target. Don't hit your mimimum account balance. Don't trade more than allowed contracts. Close All trades 1 minute before market close. Do all that and you will be assigned an Elite account within 72 hours and be on your way to earning real money.
Static Drawdown Evaluation Product Rules
Below is an explanation of static drawdown evaluation rules.
Minimum Allowed Balance
How does the minimum allowed balance work in evaluations and Elite (qualified) accounts?
A In your evaluation AND Elite account your drawdown never moves from your minimum allowed balance.
Of special note: With the static Elite account, you can withdraw profits up to the initial balance +$100. For example with a $25K Elite, you can withdraw all profits so that the balance is $25,100. Your drawdown always remains at $24,375.
Example: You start with an account balance $25,000 and your max loss is $625 (minimum account balance of $24,375). If you make a trade and close for a profit of $1,000 your minimum account balance stays static at $24,375. You would have to lose $1,625 to fail the evaluation at this point.
If at any time you hit your max loss/minimum balance your evaluation account is failed. You can feel free to reset your evaluation and try again if that happens.
Static Drawdown Evaluation Example
25k Eval with $2,000 profit target and $675 max loss.
Holding trades overnight
Am I allowed to hold trades overnight?
A No. You are not allowed to hold trades overnight.
All trades MUST be closed 1 minute before the close of the market. Different instruments have different market closing times. It is your responsibility to know these and close your positions before the respective market closes. Holding a position past market closing time will result in the failure of your evaluation or Elite account. Holding a position past market close in your Elite account will result in a forfeit of profits with account closure.
Example: ES traders must close all positions before 3:59pm Central Standard time on a normal market hours trading day. New trades may be opened at 5pm Central Standard time.
It is the traders responsibility to know holiday trading hours that may vary.
Minimum of 5 trading days
What is the minimum amount of trading days I need to qualify?
A You must have a minimum of 5 days traded and have reached your profit target to qualify for an elite account.
Details on trading days
What qualifies as a trading day?
A Any day you place a trade qualifies. Sunday and Monday are counted as the same trading day.
Does Sunday count as a trading day?
A No. Sunday evening and Monday are counted as the same trading day.
Is there a maximum number of days to hit my profit target?
A No, you may take as many days as you need to hit your profit target*. There is no maximum. You will continue to pay the evaluation auto-renewal price every 30 days until you either cancel the eval account (irrespective of failures) or reach the profit target to get funded.
If you have not failed your evaluation, your current profit and the remaining drawdown will carry over once your monthly renewal payment successfully processes.
*Fast track accounts are the only exception and have a maximum of 14 calendar days, or 10 trading sessions, to reach the eval profit target.
Can I trade on holidays and during news?
A Yes. Just know during these events volatility can be very low or extremely high and can wipe an account out quickly if risk management is not applied.
Maximum Account Positions
How do the maximum account positions work?
A You are not allowed to have more than the maximum allowed positions open at any time. Doing so will result in a failure of your evaluation or Elite account. Going over your max allowed positions in your Elite account will result in a forfeit of profits with account closure. 10 micros counts as 1 small or 1 mini.
1 mini = 1 "position"
1 small = 1 "position"
10 micro = 1 "position"
Example: An account with a maximum open positions of 3 minis, 30 micros or 3 small will be used for this example.
Allowed: 1 mini, 1 small and 10 micros
Allowed: 2 mini, 1 small
Allowed: 2 mini, 10 micro
Allowed: 2 small, 10 micro
Not Allowed: 1 mini, 1 small and 20 micros (20 micros is equivalent to 2 "positions" putting this at 4 total positions. 1 more than the 3 allowed.).
Not Allowed: 2 mini, 2 small (4 total "positions")
Not Allowed: 3 mini, 3 small, 30 micro (9 total "positions")
What contract expiration can I trade?
A You agree to trade the highest volume, most current contract for the instrument you are trading. Trading low liquidity and low volume contracts is not allowed.
I qualified. Now what?
A There is no need to email us. We will reach out to you within 72 hours for the next steps.
Please see the Elite Account rules: Click here to see the rules.