Overview
Our Daily Drawdown is balanced based. The Daily Drawdown Figure is a balance level the equity on an account cannot go below. This figure resets each day at 16:59 (EST).
IMPORTANT NOTE: The Daily Drawdown figure for an account can be seen at any time in the user dashboard.
Here are a few quick references that will help you with your understanding of our Daily Drawdown (sometimes referred to as Daily Simulated Loss):
Daily Drawdown Balance Snapshot: A snapshot that is taken from the balance of the account at 16:59 (EST) each day.
Daily Drawdown Amount: The amount in the accounts' currency (usually dollars) between the Daily Drawdown Balance Snapshot and the Daily Drawdown Figure.
Daily Drawdown Figure: An account balance level that an account's equity (balance + open trades) cannot go below.
How FT+ calculates Daily Drawdown
The Daily Drawdown Balance Snapshot minus the Daily Drawdown Amount = The Daily Drawdown Figure
Example:
- The Daily Drawdown Balance Snapshot was $105,000 at 16:59 (EST).
- The Daily Simulated Loss percentage is 4%
- 4% of $105,000 = $4200. Therefore, the Daily Drawdown Amount is $4200
- The Daily Drawdown Balance Snapshot ($105,000) minus the Daily Drawdown Amount ($4200) = $100,800.
- The Daily Drawdown Figure is $100,800. The equity cannot go below this figure.
As always, if you have any queries, you can use our live chat, which is available 24 hours a day, on our website. You can also submit support tickets by emailing support@fundedtradingplus.com and someone from the team will get back to you as soon as they are able.
You can learn more about Static, Relative, and Daily Drawdown by following the links below. Please use these resources to help you to understand how each of these drawdown types apply to our programs:
To understand more about Static Drawdown, click here.
To understand more about Relative Drawdown, click here.