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.
This rule is updated at the end of each active trading day. You can keep track of the rule in relation to your account using Weekly Net P&L on your dashboard.
In the Funded Account, your Weekly Loss Limit will be calculated intraday.
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