**Notice:

• Trader's Guard is optional. The Organizer can set up Trader's Guard commitment for rules of the contest. Trader's Guard is not to be used for the purpose of disqualifying contestants.
• All information will not be editable after activating the contest (change status from Pending to Live).

1. Pair(s) Selection

2. Risk Management

3. Equity management

4. Trading session

5. Equity drawdown

6. Floating drawdown

7. Max order limit

1. Pair(s) Selection

• Pair(s) allowed to trade: Pair(s) a trader allows himself to trade.
• The commitment takes effect after clicking [Confirm] this Commitment.

2. P&L Management 

• Risk per order: Total current loss and swap of the open order on current balance.
• All open orders: Total current loss and swap of all open orders on current balance.
• The commitment takes effect after clicking [Confirm] this Commitment.

For example:

July 1, 2021: The account balance is $1000. You placed 2 orders, hold them overnight.

July 2, 2021:

• Order 1: Current loss is $50; Swap fee is $5. Risk per Order 1: 55/1000*100=5.5%
• Order 2: Current loss is $20; Swap fee is $0. Risk per Order 2: 20/1000*100=2%
• The account loss is $70; Total Swap fee is $5. Risk per Account: 75/1000*100=7.5%

***Note: Risk is always calculated on the current balance of the account.

3. Equity management

Commit to the amount of equity, support as a take-profit or stop-loss tool

• Minimum equity: the trader commits the minimum equity allowed
• Maximum equity: the trader commits the maximum equity allowed

4. Trading session

• Commit to fixed trading sessions.
• A trader can choose Entry day, Exist day, Entry hour, Exist hour according to the Timezone of his choice.
• The commitment takes effect after clicking [Confirm] this Commitment.

5. Equity drawdown

Equity drawdown is defined as the decline from a high peak to a trough low of the equity in a trader's account in a certain time (daily equity drawdown, weekly equity drawdown, monthly equity drawdown)

When setting the equity drawdown on each timeframe is X%, it means that you want X to be the maximum equity drawdown in that time the account will reach.

• Daily equity drawdown is the daily maximum allowable equity drawdown from 0:00 to 11:59 every day by Server time.
• Weekly equity drawdown is the weekly maximum allowable equity drawdown from 0:00 on Monday to 11:59PM on Sunday by Server time.
• Monthly equity drawdown is the monthly maximum allowable equity drawdown from 0:00 on the 1st day to 11:59PM on the last day of the month by Server time.
• Total equity drawdown is the maximum allowable equity drawdown of the account.
• The commitment takes effect after clicking [Confirm] this Commitment.

***Note:

• Equity peak and trough will be updated if there is a change in the day, week, or month.
• Equity peak and trough will be updated daily, weekly, monthly.
• FXCE's server time is GMT + 2 (Winter - Spring) and GMT + 3 (Summer - Autumn).

For example: Commitment with Term: Daily equity drawdown

At 17:00 on 01/07/2021 Vietnam time (01:00 pm by Server time GMT+3). Your account placed some orders and the account's equity is now $1000.

You successfully created a new Trader's Guard with a term that is daily equity drawdown of 10%.

• This commitment will be effective immediately until 03:59 am on 01/07/2021 Vietnam time (11:59 pm on 01/07/2021 by Server GMT+3) and will be updated on the next days.
• The equity peak after the time of successful creation: $1000.
• At 20:00, the equity dropped the most to $990. The EDD now is (1000-990)/1000*100= 1%
• At 22:00, the equity rose to a new peak of $1100. The new equity peak is $1100.
• At 02:00, the equity dropped the most to $990. The EDD now is (1100-990)/1100*100=10%. Hit the committed daily maximum equity drawdown. The penalty is activated.

6. Floating drawdown

Float drawdown which is also known as floating losses happens when the account equity becomes negative.

Floating Drawdown calculation as follows:

Step 1: Call the Current floating value a= min(balance, assets).

Step 2: Compare the previous highest floating value with a: the higher value is the Max floating value, call it b with b=max(a, previous max floating).

Step 3: Then we calculate the drop rate from b to a. This is the Current floating drawdown.

When setting the floating drawdown on each timeframe is X%, it means that you want X to be the maximum floating drawdown in that time the account will reach.

• Daily floating drawdown is the daily maximum allowable floating drawdown from 0:00 to 11:59 PM every day by Server time.
• Weekly floating drawdown is the weekly maximum allowable floating drawdown from 0:00 on Monday to 11:59 PM on Sunday by Server time.
• Monthly floating drawdown is the monthly maximum allowable floating drawdown from 0:00 on the 1st day to 11:59 PM on the last day of the month by Server time.
• Total equity drawdown is the maximum allowable floating drawdown of the account.
• The commitment takes effect after clicking [Confirm] this Commitment.

Note: a=min(balance, equity); b=max(a, previous max floating).

• b and a will be updated if there is a change in the day, week, or month.
• b and a will be updated daily, weekly, monthly.
• FXCE's server time is GMT+ 2 (Winter - Spring) and GMT+ 3 (Summer - Autumn).

For example: Commitment with Term: Daily floating drawdown

At 17:00 on 20/04/2021 Vietnam time (01:00 pm by Server time GMT+3). Your account placed some orders and the account's balance and equity are now $1000.

You successfully created a new Trader's Guard with a term that is daily floating drawdown of 10%.

• This commitment will be effective immediately until 03:59 am on 21/04/2021 Vietnam time (11:59 pm on 20/04/2021 by Server GMT+3) and will be updated on the next days.
• b at the time of successful Contract creation is $1000 (=min(1000, 1000)). FDD= 0%
• At 20:00, Balance $1000; Equity dropped to $900. a is now $900 (=min(1000, 900); b is $1000.
• FDD = (1000-900)/1000*100=10%. Hit the committed daily maximum floating drawdown. The penalty is activated.

7. Max order limit

Max order limit is the maximum total number of orders in a certain time (max open order, max orders per pair, max daily, max weekly, max monthly).

The number of orders is unlimited. Users can enter the amount as they want.

If you trade exceeds the maximum number of orders committed, the user's account will be penalized.

• Max open order: total number of open orders, this term takes effect after clicking [Confirm] this Commitment.
• Max order per pair: the total number of open orders of the same pair of symbols, this term takes effect after clicking [Confirm] this Commitment.
• Max daily order: the total number of orders allowed to be opened in a day, from 0:00 to 11:59 PM by Server time (GMT+3).
• Max weekly order: the total number of orders allowed to be opened in a week, from 0:00 on Monday to 11:59 PM on Sunday of that week according by Server time(GMT+3).
• Max monthly order: the total number of orders allowed to be opened in a month, from 0:00 on the 1st day to 11:59 PM on the last day of the month by Server time (GMT+3).

***Reminder: Commitment of Max daily/weekly/monthly orders are accumulated from the beginning of the day, week, and month, not the current time.

For example:

• On Wednesday, you create a new "Trader's Guard", which commits a maximum weekly total of 5 orders.
• However, on Monday and Tuesday, your total open and closed orders are 3.
• After confirming the commitment, from now until the end of the week you can only open 2 orders left.