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Thought we are talking about the normal trading drawdown. Because uprofits is totatlly different to be fair.
I mean if you are 1000$+ in a trade and it comes back to breakeven, then on normal trailing drawdown your "auto liquidate treshold" got 1k closer, while on the uprofit one nothing happens and
it stays the same. So the main difference is in unrealized profits, on end of day profits they are the same.
Comparing both I find the uprofit superior, but yeah no drawdown at all would be best.
Drawdown may be different, however, they also have a daily loss limit. Does not say that this is calculated EOD. (See Below)
So, what's the advantage of having the Pro Drawdown if you have a daily loss limit that is approximately $1,000 less than the drawdown?
Daily Loss Limit
Having an established daily loss limit will allow you to develop and strengthen your discipline. Also, assuming and accepting the risk will lead you to define your trades in accordance with the monetary management and size of your account.
I don't understand what Daily loss limit has to do with it. I mean they are totally different things and as far as i know all those firms have daily loss limit.
I mean the worst case with a trailing draw down would be getting terminated without a losing trade.
Let's say you have a 2500$ trailing draw down and you get one good swing trade. You are up lets say 3k$, it gets back to 500$. Than you get liquidated without having a single losing trade.
Also a daily loss limit wouldn't have made a difference.
To each their own, but i definitely prefer the end of day drawdown to the trailing one. Several times I had to cut winners short, because it would be to costly to let a winning trade come back.
So, I just received confirmation from Freddie of UProfit. Daily Loss Limit is calculated at time of infraction not EOD.
So, what Daily Loss Limit has to do with it is, it essentially works as a drawdown, not a trailing drawdown but a static drawdown.
If reached, your account is closed immediately. In my opinion it essentially eliminates the Pro Drawdown because you will likely hit the Daily drawdown first because it is approximately $1,000 less.
In my opinion, if they were really looking out for and trying to teach the trader good trading skills, the Daily Loss Limit should only freeze your account for that day and reopen the next trading day. That is the way you would trade your own brokerage account.
But that wouldn't line their pockets with your money to unfreeze the account ...............
It's about cash flow ................... theirs ..........
