The rules concerning approved times and maximum position size (including the progression ladder) remain the same. Once your trailing drawdown stops trailing (see above example), your daily loss limit is permanently removed. Unlike during the evaluation, the difference is that for the funded trading account, this rule is only temporary. Initially, your funded trading account also starts with a daily loss limit, just like in the Gauntlet Mini™. This means your account only gets liquidated if the balance drops below $50,000. After that, your drawdown threshold value stays $50,000. Once your balance reaches $52,000, your drawdown stops trailing. An example would be, for the $50,000 account, the allowed drawdown is $2,000.
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Basically, after your balance goes above the starting balance plus the allowed drawdown value. Similar to your evaluation, it will stop trailing once the drawdown threshold value (the balance where your account gets liquidated) reaches your starting balance. Much like your Gauntlet Mini™ account, your funded trading account will also include a trailing drawdown. The number one safeguard is the drawdown. This is meant to guard against situations where traders successfully pass the evaluation, then for some reason can’t handle the switch to a live market. Because the proprietary trading firm providing the funds takes on all of the financial risks, your account will have a few safeguards set by them to protect their capital. The rules are mostly the same when trading as a funded trader as when you took on the original Gauntlet Mini™ challenge. However, this is only the beginning, the chance to create a potentially huge income stream. At this point, you have your own funded trading account. Yes, breathe a sigh of relief that you have passed the Gauntlet Mini™ challenge. Why would you look to change the rules if they allowed you to power through the Gauntlet Mini™ challenge? Whether it’s virtual or live trading, the key to any success is discipline. Are You Obligated To Keep Following All The Rules?īefore answering this question, let’s think about it for a moment. If you’ve already paid them, they won’t be deducted twice. More importantly, any brokerage fees owed, such as monthly data fees, are also deducted during withdrawal. These fees may vary, although they are generally somewhere between $30-40. Any transaction fees are covered by the proprietary trading firm for withdrawals of over $500. Withdrawals are available through bank wire transfers and direct ACH deposits. The minimum amount you can withdraw is $100, and withdrawal instructions are processed every Tuesday. You can withdraw funds from your funded trading account at any time (assuming you have a positive account balance). What is The Maintain Consistency Rule and Why is It Important?.What is The Daily Loss Limit Rule in Funded Programs?.