Virtual Maximum Daily Loss | 5%
Your virtual maximum daily loss (drawdown) will be limited to 5%
of your virtual initial balance which is then subtracted of either your previous day's ending virtual balance or simulated equity (whichever is greater).
The virtual max daily drawdown resets every day at around 5PM EST (typically plus or minus 3 minutes).
Your virtual max daily loss will reset each day at 5pm EST. For example, if you start with a $100,000 virtual funds account your virtual max daily loss will be set at 5% ($5,000). If you end the day with a $4,000 closed simulated profit your account virtual balance will now be at $104,000. Your virtual max daily loss now be set at $99,000. Your account will be breached if you fall below $99,000 in simulated equity at any point throughout the day.
If your account is a $100,000 virtual funds challenge and you have a position open that is $5,000 in simulated profit when the new day starts (5pm EST) the drawdown would be calculated as $105,000 - $5,000 = $100,000. If your simulated equity goes below $100,000 at any point you have violated the virtual max daily drawdown.
Note: Exceeding the virtual daily drawdown limit will result in the automatic failure/breach of your account and you will not be able to continue trading with that account. Virtual Max Daily Loss considers OPEN and closed trades.