What it Means:
Following successful completion of a $50K, $100K or $150K Trading Combine Step 1, your Step 2 Trading Combine and Funded Accounts have a Weekly Loss Limit. The Weekly Loss Limit is the maximum amount you may lose at any point in a calendar week (Monday through Friday). The Weekly Loss Limit is equivalent to the Daily Loss Limit and is factored based on the sum of the total Net P&L in the calendar week. The Weekly Loss Limit rule is eliminated once the Trailing Max Drawdown reaches the starting balance.
Why it is Important:
- Protects your account from large losses
- Allows you to reflect on recent performance - increasing your probability of success
*Every trader is responsible for being aware of their weekly P&L