Below you will find all the information related to our Brand new Freedom 75k Account.
We are introducing a new way of Drawdown calculation for our Freedom 75k Account.
(please refer to FAQ #2.)
Account Balance ------$75,000
Maximum Contracts ---8 contracts
Daily loss limit---------$1,600
Pro Drawdown ----$2,500
1. Pro Drawdown
The Pro Drawdown is updated at the end of the trading day during your evaluation and also Live Account. You can keep track of your Pro Drawdown using your Trading Dashboard at the end of every trading day 15.10 CT.
The new Pro Drawdown will only take into consideration the realized profits at the end of the trading day, is always calculated when your account balance reaches a new high at the end of any trading day. So, if you make $1,500 on your first trading day your account balance will be $76,500 and your Pro Drawdown will be $74,000. On your next trading day you make a $1,700 Profit but you continue trading and end up with a losing trade of $1,200 making your PnL for the day $500. You new account balance will be $77,000 and your Pro Drawdown $74,500.
2. Daily Loss Limit
UProfit Trader has set daily loss limits for each account according to its size. This will ensure that you will have adequate risk management. Here at UProfit Trader, we will also pay close attention to your trading day so that we can assess if the established limit has been reached or exceeded. If you happen to reach the loss limit during any open trades, the position may be closed automatically and your account will be closed as well.
The daily loss limit includes commissions and fees, so it is VERY important to track directly from the RTrader platform.
Daily loss limit---------$1,600
3. Major News Events
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.
4. Markets and Schedules
The schedule for each trading day will begin at 6:00 PM EST and extend until 4:10 PM EST. Excluding Holidays. All positions MUST BE CLOSED before 4:10 PM EST then you may reopen any positions after 6:00 PM EST.
Keep in mind, the high-impact economic reports (news) at different times for the products you choose to trade. Also, UProfit Trader offers you the opportunity to trade multiple instruments that occur within the CME, NYMEX, COMEX and CBOT.
Always remember, when it comes time for contract rollover in your chosen market, that you make the proper adjustments to the contract by the rollover date. Whether you are in the evaluation period or trading a live account, if you do not take care of this by the specified date, you will be in violation of our required trading rules. When in Roll over you must trade the Highest volume contract.
You must have a minimun trading volume of 1 trade per week. A trading week is considered from Sunday 17.00 CT to Frinday 15.10 CT.
5. Scaling Plan
You must follow the scaling plan during your Live Account, it is mandatory.
Despite the product you trade it is as follows.
$0 - $1.500 = 2 Contracts Max
$1.501 - $3.000 = 4 Contracts Max
$3.001 - $4.500 = 6 Contracts Max
After $4.501 = 8 Contracts Max