Flat For Weekend Hare Accounts
In this video, we’re going to touch on the flat for weekend soft rule for the hare accounts.
Welcome back traders. We know that if traders have high leverage and they hold positions over the weekend, they’re 60% more likely to lose their account to maximum drawdown or daily drawdown rule. As I said, our goal is for you to get funded and stay funded for long term.
We want to stack the edges in your favour, and this is why we have this rule in place. So being flat for the weekend just means that you need to close out your trades for the weekend if you’ve got a hare account. If you’ve got a turtle account, it’s lower leverage and we allow you to hold your trades over the weekend. You’re not required to close them.
These turtle accounts are more for the long term trader. Whereas your hare accounts are more for that short term intra-day scalpers who might need higher leverage to get the job done. Because this is a soft rule, you will not lose your account if you forget to close your trades for the weekend.
What will happen is we will simply close out your trades before the market close at the current price. This could be in your favour, and it could go against you. So, we always recommend that you plan your trades and you manage your trades.
Close out your trades when you find is the optimal time for you, and that will avoid us closing them out automatically for you at any given price, whatever it ends up being before the close of the market. If you’ve got any questions, please comment below on the video or contact us through support.
