For both the 1 Phase SurgeTrader Audition (demo) account and virtually funded trading accounts, the following rules apply:
Hard breach rules, which will disqualify your account:
- Daily Loss Limit: 5%*
- Virtual Max Trailing Drawdown: 8%*
See the explanation of these 2 rules elsewhere in the Knowledge Base.
Note that the daily loss limit applies to current daily equity. For example, a trader with a $100,000 virtually funded account would have a $5,000 daily loss limit. If the trader ran up gains of $10,000, their new daily loss limit would be $5,500 - or 5% of their new balance of $110,000.
Soft breach rule, which will close positions and you can continue trading:
Stop-loss is required for each trade at the time the trade is executed unless the No Stop-loss add-on purchased removes this requirement.
This is only considered a soft breach though, which means, even though you violated the rule, you can continue on trading, and should you reach your 1 Phase 10% target (without violating daily loss or virtual maximum trailing drawdown limits), you would be upgraded to a Virtually Funded Account.
*PLEASE NOTE: All accounts are subject to the rules regarding daily loss limits and virtual max trailing drawdowns that were in effect at the time of purchase. Any changes to those rules made after the time of purchase will not apply retroactively.
For both the 2 Phase SurgeTrader Audition demo account and virtually funded trading accounts, the following rules apply:
Hard breach rules, which will disqualify your account:
- Daily Loss Limit: 5%*
- Virtual Maximum Fixed Drawdown: 8%*
See the explanation of these 2 rules elsewhere in the Knowledge Base.
Note that the daily loss limit applies to current daily equity. For example, a trader with a $100,000 virtually funded account would have a $5,000 daily loss limit. If the trader ran up a profit of $10,000, their new daily loss limit would be $5,500 - or 5% of their new Balance of $110,000.
Soft breach rule, which will close positions and you can continue trading:
Stop-loss is required for each trade at the time the trade is executed unless the No Stop-loss add-on purchased removes this requirement.
This is only considered a soft breach, though, which means, even though you violated the rule, you can continue trading, and should you reach your Phase 2 5% virtual profit target (without violating daily loss or virtual maximum fixed drawdown limits), you would be upgraded to a Virtually Funded Account.
*PLEASE NOTE: All accounts are subject to the rules regarding daily loss limits and virtual maximum fixed drawdowns that were in effect at the time of purchase. Any changes to those rules made after the time of purchase will not apply retroactively.
For both the Lightning Round SurgeTrader Audition demo account and virtually funded trading accounts, the following rules apply:
Hard breach rules, which will disqualify your account:
- Daily Loss Limit: 3%*
- Virtual Max Trailing Drawdown: 4%*
See the explanation of these 2 rules elsewhere in the Knowledge Base.
Note that the daily loss limit applies to current daily equity. For example, a trader with a $100,000 virtually funded account would have a $3,000 daily loss limit. If the trader ran up a virtual profit of $10,000, their new daily loss limit would be $3,300 - or 3% of their new balance of $110,000.
Soft breach rule, which will close positions and you can continue trading:
Stop-loss is required for each trade at the time the trade is executed unless the No Stop-Loss add-on purchased removes this requirement.
This is only considered a soft breach, though, which means, even though you violated the rule, you can continue trading, and should you reach your Lightning Round 5% virtual profit target (without violating daily loss or virtual maximum trailing drawdown limits), you would be upgraded to a Virtually Funded Account.
*PLEASE NOTE: All accounts are subject to the rules regarding daily loss limits and virtual max trailing drawdowns that were in effect at the time of purchase. Any changes to those rules made after the time of purchase will not apply retroactively.