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Are you referring to the gauntlet or the live sim/live?
If it's the gauntlet then you shouldn't even reach 750 profit to begin with. The consistency rule makes it more sense to cap the daily profit at about 500 for the 1750 target.
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Can you help answer these questions from other members on NexusFi?
Daily Loss is based on your net PnL, including both open (real-time/unrealized), closed trades, and commissions. As a rule of thumb, remember that it is always calculated from the cash on hand, or starting balance of the day.
For example, if your trading day starts with an Account Balance of $25,000, considering the Daily Loss for this account size is -$550; Imagine you have an open trade with a profit of $500 (balance $25,500) but, then the trade goes against you, and you close it at -$100 (balance $24,900), you won't fail on Daily Loss rule. Considering the Account Balance you started the day with ($25,000), your PnL is going to be -$100, and you'll need -$550 to fail by this rule.
Keep in mind it also counts unrealized losses, an open trade that causes your net PnL to reach or drop below -$550 will make you fail by Daily Loss.
Your website states: A daily loss limit is the maximum amount an investor can lose on their total asset amount or a specific trade per day.
This is why I am confused, as a Daily Loss Limit does not normally take into consideration specific trades, only the live drawdown from the starting balance.
Please refer to my Scenario A above. According to your website, I would fail. But according to your response, I would pass.
The page is here: https://aky.pbv.mybluehost.me/daily-loss-limit/
I can see how that can become a misunderstanding, but the rule works as I explained before. Daily Loss is based on your net PnL and it is always calculated from the cash on hand, or starting balance of the day. If at any point during your trading day your net PnL reaches -$550 , you will fail by this rule.
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