1 PHASE BREACH DEFINITION

For 1 Phase Auditions Only:

First, it's important to understand that there are two different types of breach: a hard breach and soft breach. A violation of the daily loss limit or virtual maximum trailing drawdown in a 1 Phase Audition constitutes a hard breach. A soft breach occurs if, for example, a trader places a trade without a stop-loss. If a soft breach occurs, the trade is closed, and the trader can continue to trade. During the SurgeTrader Audition, in the event of a hard breach, account access will be revoked. If a funded trader incurs a hard breach of the trading rules, trading account access will be revoked. Any gains earned by the trader at that time in a virtually Funded account will be distributed. In either case, traders can always start again with another SurgeTrader Audition. A 20% discount is available for a repeat Audition.

Explanations of the Daily Loss Limit and the Virtual Maximum Trailing Drawdown can be found elsewhere within the Knowledge Base.