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rules of Legend Challenge

rules of Legend Challenge

Last published :
July 24, 2024
What are the rules of Legend Challenge?

To maximize your success and maintain compliance during your trading journey, please adhere to the following important guidelines and restrictions for this Plan:

  1. Maximum Daily Drawdown:
    • You are permitted a maximum daily drawdown of 5% (10% for aggressive plans) of your account balance.
    • This means that on any given day, your losses should not exceed this percentage.
    • The daily loss limit is determined based on the balance at the end of the previous day (5 PM EST).
  2. Maximum Overall Drawdown:
    • The maximum overall drawdown allowed is 10% (20% for aggressive plans) of your initial account balance.
    • Your account's balance/equity should not fall below 90% (80% for aggressive plans) of the initial amount at any point during your trading journey.
  3. Profit Target:
    • First Phase: Achieve a 10% (20% for aggressive plans) profit target.
    • Second Phase: The profit target is set at 5% (10% for aggressive plans).
  4. Minimum Trading Days:
    • Execute a minimum of 4 individual and separate trades during the Challenge.
    • These trades can occur on non-consecutive days, providing you with flexibility.
    • There is no upper limit on the number of trades, allowing you to trade as freely as you wish.