How do you calculate the Daily Loss Limit?
Daily Loss Limit is calculated based on the previous day’s end of day (5pm EST) balance.
Example: On a three phase account, if your prior day’s end of day balance was $100,000 you would breach the Daily Loss Limit of 5% should your equity the next day fall to $95,000.
On a two phase account, if your prior day’s end of day balance was $100,000 you would breach the Daily Loss Limit of 4% should your equity the next day fall to $96,000.
On a phase account, if your prior day’s end of day balance was $100,000 you would breach the Daily Loss Limit of 3% should your equity the next day fall to $97,000.
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