below you will find all the information related to our Microfutures 9k Live Account.
We are introducing a new way of Drawdown calculation for our Microfutures Account, please refer to 2.
It is exclusive for CME Micro E-Mini Nasdaq (MNQ) and Micro E-Mini ES (MES), Micro E-mini Russell 2000 futures (M2K).
Account Balance ------$9,000
Rules to be followed during Live Account Trading.
Maximum Contracts ---5 Micro contract
Daily loss limit---------$ 350
Maximum Drawdown ----$ 800
Do not hold positions over Major news releases.
Swing trading is allowed during the week, but all positions must be closed during weekends.
1. How much are the commissions?
In the Microfutures 9k Account commissions are $0.5 per side per contract - $1 round-.
MNQ and MES $0.5 per side.
2. How is Maximum Drawdown Calculated during Live Account?
Maximum Drawdown is $800 and it is Trailing Drawdown. Meaning that it will take in consideration realized and unrealized profits to be calculated, it will trail until Initial Accout Balance it is met.
Ex. If you start your trading day at $9.000. You make a trade a win $300, and on the next trade you lose $100, at the end of the day you Account Balance will be $9,200 and your Drawdown will be $8,500.
If you reach Maximum Drawdown at any time during your trading day the rule will be considered broken.
3. Can i do Swing Trading?
Yes, you are allowed to swing trade.
You can leave positions open during the week. A Trading week is considered from Sunday at 5.00 pm CT to Friday 3.10 pm CT. All positions must be closed during the weekend.
If you would like to place a stop please use a GTC (Good till cancel) order. This type of order will remain after the market close.
You may not be able to place new traders or close current trades from 3.10 pm CT to 5 pm CT.
4. What does it mean Max 5 Micro contracts?
5 Micro contracts is the maximun amount position allowed at any moment during your Microfutures 9k Program. You can combine the 5 positions in different markets at the same time, but you can not exceed 5 positions.
5. Which Economic Releases should i be flat for?
You must follow the Important Economic News Calendar. We have created a calendar that contains the news that every Live trader must be flat.
Failure to be flat during an important economic release will be considered as a broken rule.