This rule has been introduced to avoid gambling-like operations.
During the Senior Trader phase, we require that at least 3 days are closed with a profit of 0.5% of the account.
We need 3 different days in which the sum of closed trades on the same day generates a profit greater than 0.5% of the account (any open trades with losses could lower this profit to less than 0.5%, and therefore the day would not be counted).
The following examples are calculated on a $100,000 trading account.
The only case in which the rule is fully satisfied:
Day 1: My trades earn at least $500 (0.5%) and I close them.
Day 2: My trades earn at least $500 (0.5%) and I close them.
Day 3: My trades earn at least $500 (0.5%) and I close them.
I open trades that earn at least 0.5% of the account and close them the next day:
Day 1: My trades earn at least $500 (0.5%) and I do not close them.
Day 2: My trades earn at least $500 (0.5%) and I close them.
For counting purposes, this is considered as a single day with at least 0.5%.
I open trades that earn 1.5% of the account and close them after 3 days:
Day 1: My trades are earning 1.5% but I do not close them.
Day 2: My trades are earning 1.5% but I do not close them.
Day 3: My trades are earning 1.5% and I close them.
For counting purposes, this is considered as a single day with at least 0.5%.
I have open trades in a loss at the end of a day in which I closed trades for a 0.5% profit:
If my open trades in a loss lower the profit below 0.5%, the day will not be counted, even if I had closed trades for more than 0.5% on that same day.
NOTE: Any trade refunds or bonuses made by Prop Number One are excluded from the day count.
Example
Prop Number One decides to give a 0.5% bonus to all of its customers who are being evaluated, this is not counted as a valid trade for the 3 days with minimum 0.5% gain.