Question is regarding "the account balance at the beginning of the week". Week One beginning account balance is zero. How about following week?
I just started 100K FTP and in order to be 100% sure about the rules I called the funding team regarding the Weekly Loss Limit. Specifically I asked how weekly loss was calculated. I was told the beginning balance of the week is zero. So if at the end of Week One there is a balance of +$500, it does not carry into Week 2's beginning balance, as Week 2 beginning balance will be zero. This could be a little different from the quote above, which I interpret as though the balance from Week One will be the beginning balance of Week Two, though others might interpret differently. Hoag could you please confirm either way. Thanks.
In your example, after the first week, your account balance is +$500. In the 100k account, the weekly loss limit is $2,000 so for the weekly loss limit to be hit during the second week, the account balance would need to breach -$1,500, exactly $2,000 below the account balance at the beginning of the second week.
Starting the second week with a +$500 balance, say you make $1,000 on Monday making your balance +$1,500. Your weekly loss limit is still if the overall account balance reaches - $1,500, you would be at your weekly loss limit.
I hope this cleared this up for you. Trade well!
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Thanks for you comments, Myself and my trading buddies are located in Australia, and we would love to have access to the Osaka exchange through TST and be able to trade the Mini Nikkei 225. I am sure a lot of Asia would also like this option, so as to be a daytrader in the true sense of the word, instead of the red eye night shift we currently do while trading during the US session.
I hope you would consider this please.
I have done many Combines, and not (yet) passed. I have only occasionally done a "Reset".
You are allowed to cancel at any time, just send an email a few days before your renewal date. You can then start a new one. There is no problem with this.... To make sure it would be legit, I emailed them to make sure, and the reply was that it is fine under the rules.
Sometimes it is more convenient to just hit the Reset button, when you have a lot of time left in your monthly subscription. and you think you could pass it with a Reset before the next subscription payment. Otherwise, you can just Cancel and resubscribe.
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