b.3) What is the Daily Max Loss?

Your Daily Total PNL cannot reach or exceed the Daily Loss Limit at any point during the trading day (9:30am – 4pm). If at any time your Total PNL does exceed this amount for your account, any open trading positions may be flattened, any pending orders may be canceled, and your account may be prevented from placing any new trades until the start of the next trading day (9:30am). The Daily Loss Limit is factored based on each trader’s Total PNL, which includes both unrealized and realized trade PNL values.

For example, in a $100K ToroChallenge, the Daily Max Loss is $500. Therefore, if at any point during the trading day your Total PNL reaches or exceeds -$500, the Daily Max Loss is considered to be breached.

You can reach the Daily Max Loss a maximum of two times within two consecutive trading days or three times during the enrollment.

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