09. Stop Loss Restrictions
01. Are there any Stop loss restrictions?
Yes. You will need to have a stop loss of 1.5% per trade at all times.
Also, the max risk value for multiple trades should not exceed 1.5% of the account size. (Multiple positions on the same currency pair and open at the same time are considered 1 trade).
02. Does the trader get disqualified if the 1.5% stop loss is hit in any trade during the evaluation?
Hitting 1.5% will not disqualify the trader. It will, however, close the open trade automatically. This rule is set to ensure the trade does not lose more than what is allowed to and to protect the trading account capital.
03. Is it allowed to place trades without a stop loss?
You cannot trade without stop loss. IF you make any profits or open positions without stop losses, then those profits will not be counted and you will be disqualified. We always require a stop loss in place.
04. Do the evaluation prerequisites (ex: 4% drawdown, 1.5% max stop loss) still apply to the fully funded account?
Yes, those are risk limit parameters and they will still be included in the full funded accounts.
The only difference between the evaluation and the fully funded account is the size of the account. We evaluate the trader on smaller account size and if the trade is profitable we allocate larger capital to trade.