We review a Funded Sim trader’s performance and how the account is being managed at certain threshold on the account. At TradeDay, our goal is to run a risk-managed firm and be aligned with the trader by moving them into a Funded Live account when they have demonstrated that they are ready for the move.
Funded Sim traders will be reviewed at $10,000 gross profit in each of their funded accounts for a move to Funded Live. The trader must stop trading when they have reached each threshold level, and wait for the review to be complete.
On the day the $10,000 gross profit is reached, during the End of Day run (4:30pm CT) access to the trader’s account will be automatically paused, and the account will be reviewed by the trading team overnight. It’s important to note that any excess profits above the threshold will be removed, and the balance will be revised back to the threshold level.
The trading account will be reviewed, and the trader will in most cases be moved to Funded Live. We aim to complete this review before the start of the cash market opening the next day. On rare occassions an extension to continue in Funded Sim beyond $10,000 gross profit may be offered.
Important:
Please note that any profits above the $10,000 gross profit level that are in the account will be forfeited and will not be eligible for payouts, transfer to the Funded Live account, or for any extension offered in the Funded Sim account. When you reach the $10,000 gross profit, stop trading, and do not continue to trade beyond it until you have been authorized to do so.
What are gross profits?
Gross profits are the total profits made in the current Funded Sim accounts (after commission), so they would include current realized profits in the accounts, plus any withdrawals that have been made from the accounts.
Can a trader make withdrawals before reaching the $10,000 gross profit level?
Traders can make withdrawals at any time once they have a positive balance.
Thresholds and new accounts/multiple accounts
Each account is evaluated independently at $10,000 for a move to Funded Live. This means that each account will be paused at $10,000 regardless of what is happening in other funded sim accounts that you have active at the time and what status those accounts are.
NB: TradeDay reserves the right to move a trader directly to a Funded Live account on passing the quick pay evaluation. On rare occasions, we may move a trader directly to Funded Live on passing their evaluation. This decision would be based on the trader's previous evaluations, Funded Sim and Funded Live account history with TradeDay.
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