To successfully complete your TradingDays evaluation, you need to do the following:

• Ensure your account stays above the profit target without hitting the maximum drawdown for your chosen evaluation.
• Familiarise yourself with how the Trailing Threshold Drawdown works, as it’s crucial to your success.
• Trade for a minimum of seven days, but they don’t have to be in a row.
• Maintain professionalism and make sure you stick to DayTraders’ Code of Conduct.
• Protect your account by keeping your username and password to yourself – this isn’t a team effort!
• Keep an eye on your maximum drawdown by using RTrader or Tradovate, and be prepared to close trades if you’re getting too close to the limit.

Once you’ve passed the evaluation, don’t continue trading on that account! If your balance drops below the profit target after passing, it’ll no longer be valid. DayTraders will send you a contract and payment link within two business days of completing your seventh trading day.

DayTraders Rules

Multiple Account Trading

Some traders choose to use a Trade Copier to manage multiple Evaluation or Funded Accounts at once. This approach can help spread risk and mentally manage losses across different accounts.

Do be aware, though, that DayTraders don’t provide or support the Trade Copier tool. If you decide to use one, any issues that arise should be directed to the tool’s vendor, as DayTraders isn’t responsible for its performance or any technical problems.

Trading Hours and Holidays

Trading is open 23 hours a day, from 6pm ET to 4.59pm ET the following day. Make sure all trades are closed and any pending orders are cancelled by 4.59pm ET each day to avoid penalties.

You’re allowed to trade on holidays, provided the markets are operating. However, half-day holidays won’t count towards your trading day tally.

Avoiding Daily Drawdown

With DayTraders’ live trailing threshold, you don’t need to worry about daily drawdown limits. You can keep track of your threshold in real time using the provided software to stay on top of your account status.

Maximum Position

You can trade up to the maximum position limit, even during news releases, as long as it’s between 6pm ET and 4.59pm ET. Remember, all trades and pending orders need to be wrapped up before 4.59pm ET.

Account Limits

There’s a cap of 10 active Pro Accounts for any household, company, or connected individuals. This limit applies across both Rithmic and Tradovate accounts, so whether you’re trading as an individual or part of an organisation, the total number of active Pro Accounts must not exceed 10.

For example, if your LLC has five Pro Accounts, you’ve used up five of the 10 available slots. If you have personal accounts with Rithmic and Tradovate, their combined total can’t exceed five Pro Accounts. And if you and your partner both trade, you’re still limited to a combined total of five Pro Accounts for your household.

Should you exceed the 10 Pro Account limit, any payments linked to those extra accounts will be forfeited, so it’s crucial to stay within the rules.

DayTraders: Understanding Your Starting Balance and Max Drawdown

Starting Balance and Contract Sizes

You’re free to trade the maximum number of contracts allowed by your chosen plan. For added flexibility, you can trade micro contracts, up to the same maximum contract size set for your plan.

Max Loss Drawdown

Your maximum loss drawdown depends on the plan you’ve selected. Each plan has its own limits, so it’s worth understanding what applies to your account. There’s no daily drawdown restriction, so you can trade without worrying about hitting a daily loss limit. This gives you more freedom in managing your trades.

Pro Accounts

The trailing drawdown will stop when your liquidation threshold reaches $100 above your starting plan balance. This gives you a clear stopping point to manage your risk. Once your peak unrealised balance reaches your starting balance plus the trailing drawdown amount and an additional $100, the trailing stop will no longer apply. At that point, you can focus on your trading without worrying about further drawdown.

Static Accounts

For Static accounts, the drawdown remains fixed and doesn’t trail your profits. For instance, if you have a 100K Static account, your drawdown stays at $99,375, regardless of how much your account grows.

Having a good grasp of your starting balance and maximum drawdown is vital to succeed as a prop trader, so make sure you understand all the information above well and use it to help you implement good risk management.