At the beginning of the Challenge each trader will be given a Zero ($0) balance account. At the end of the competition the trader with the highest Net Balance will win.
Maximum Daily Loss Limit
A daily loss limit is set for $750. On any of the 5 trading days in the Challenge, this is the loss limit that will apply to each Challenge account.
A trader may lose = $750.00 per day before trading privileges are suspended for that day. If this occurs traders must wait for the next day to continue. Although risk limits are set behind the scenes, each trader is responsible for not exceeding their daily loss. In the event that a trader is automatically liquidated, the daily loss may in actuality be greater than $750 due to slippage.
Maximum Total Loss
A maximum daily loss for each challenge account is $2,500. In the event that an account experiences a cumulative lose (over multiple days) of $2,500 or more, then the trades will not be allowed to continue in the Challenge.
The maximum overall position size during the contest is 3 lots (contracts). A trader may have a 3 lot position in one market or split up 3 contracts over multiple markets. All offset positions can be re-established at any time in the same or different markets as long as 3 lot maximum position is not violated.
Flat at the End of the Day
The LTC events are day trading events. Therefore all participants must be flat (no open positions) at the end of the trading session (day). Most markets close at 4:00pm Central (Chicago) time. This rule is strictly enforced. Note: all participants have access to a customer service representative and a trade desk should you need assistance liquidating or checking a position.
Minimum Trade Activity
Each participant must make a least one trade per session (day).
The goal of the LTC Events are to provide a realistic trading experience. Transaction costs are an important component of trading which is not generally including in simulated or practice environments. Each round turn will be assess an "assumed" commissions of $5 per round turn which will be included in the Net P/L calculation for each participant.
LTC events focus on liquid CME Group markets. This following markets are available for all participants.
ES - Emini S&P 500 Stock Index Futures
YM - Emini Dow Jones Stock Index Futures
RTY - Emini Russell 2000 Stock Index Futures
NQ - Emini NASDAQ 100 Stock Index Futures
CL - Crude Oil Futures
NG - Natural Gas Futures
6A - Australian Dollar Futures
6B - British Pound (Sterling) Futures
6C - Canadian Dollar Futures
6E - EURO FX Futures
6J - Japanese Yen Futures
ZB - US Treasury Bond Futures
ZN - US Treasury 10 Year Notes Futures
ZF - US Treasury 5 Year Notes Futures
ZC - Corn Futures
ZS - Soybean Futures
ZW - Wheat Futures
GC - Gold Futures