Before your first trade: the rules that matter most

Five minutes here will save you an account. These are the rules that actually end accounts, in the order they are likely to catch you.

1. The drawdown trails your end of day balance

Your maximum loss line follows your highest end of day balance, not your highest intraday balance. Green during the session and red by the close means the line does not move up.

Once you have earned enough profit, the line stops at your starting balance and never moves again. From then on you cannot lose more than you have made. Full explanation.

2. Be flat by 4:45 PM ET

All positions must be closed by 4:45 PM ET each trading day. Anything still open is closed for you, and the result counts.

3. There is no daily loss limit

Nothing stops you from having a bad day, which is the point. It also means nothing stops you from having a catastrophic one. The max drawdown is the only floor.

4. Stay inside your contract limit

Two minis at $25K, up to twelve at $150K, counted across every position you hold at once. Micros count at one tenth. Contract limits.

5. Consistency affects payouts, not survival

Depending on your program, one day can only make up so much of the profit you withdraw against. Going over does not close your account and is not a violation. The payout simply waits until more trading days bring the ratio down. How consistency works.

6. Trade at least once every 7 days

Accounts with no trading activity for 7 days are closed.

The short version

You can lose an account by breaching the drawdown. Everything else either delays a payout or gets closed for you automatically.